First Busey ( (BUSE) ) has released its Q1 earnings. Here is a breakdown of the information First Busey presented to its investors.
First Busey Corporation is a financial holding company operating primarily in the banking sector, offering a range of financial services including commercial banking, wealth management, and payment technology solutions through its subsidiaries. The company recently completed a significant acquisition of CrossFirst Bankshares, expanding its presence across multiple states.
In the first quarter of 2025, First Busey reported a net loss of $30 million, primarily due to acquisition-related expenses and strategic balance sheet repositioning. However, adjusted net income, which excludes these non-recurring items, was $39.9 million, reflecting a positive underlying performance.
Key financial metrics for the quarter included a net interest income of $103.7 million and an adjusted net interest margin of 3.08%. The acquisition of CrossFirst contributed to a significant increase in total assets, which stood at $19.46 billion by the end of the quarter. Despite the reported net loss, the company demonstrated strong adjusted earnings and maintained a robust balance sheet.
Looking ahead, First Busey is optimistic about the integration of CrossFirst and expects further improvements in financial performance. The company plans to continue its focus on managing expenses efficiently while leveraging its expanded footprint to drive growth and enhance shareholder value.