FIRST BUSEY CORP NV
For the period ended Jun 30, 2024. Filed Aug 6, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 6, 2024
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Non-Operating Expenses and Non-GAAP Measures
Busey views certain non-operating items, including acquisition-related and restructuring charges, as adjustments to net income reported under GAAP. Non-operating pretax adjustments were as follows for the periods presented(dollars in thousands):
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Non-operating costs | ||||
| Acquisition related expenses1 | $2,212 | $12 | $2,497 | $12 |
| Restructuring charges2 | — | — | 123 | — |
| Total non-operating costs | $2,212 | $12 | $2,620 | $12 |
Acquisition expenses related to the acquisition of M&M, which was completed on April 1, 2024, and other exploratory costs.
Restructuring charges related to previously disclosed restructuring and efficiency plans.
A reconciliation of non-GAAP measures, which Busey believes facilitates the assessment of its financial results and peer comparability, is included in tabular form in this Quarterly Report. See“Item 2. Management’s Discussion and Analysis—Non-GAAP Financial Information.”
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