FIRST BUSEY CORP NV
For the period ended Sep 30, 2024. Filed Nov 5, 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.
Sep 30, 2024 · Filed Nov 5, 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 pre-tax adjustments were as follows for the periods presented(dollars in thousands):
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Non-operating expenses | ||||
| Acquisition expenses1 | $1,935 | $79 | $4,432 | $91 |
| Restructuring expenses2 | — | — | 123 | — |
| Total non-operating expenses | $1,935 | $79 | $4,555 | $91 |
Acquisition expenses were related to the acquisition of M&M, which was completed on April 1, 2024, and planned acquisition of CrossFirst.
Restructuring expenses were 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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