First Busey Corporation Announces 2026 Third Quarter Earnings

Van A. Dukeman, Chairman, President and CEO of First Busey Corporation

“Busey reported adjusted diluted EPS of $0.63. Results were impacted by a single commercial relationship in the Central region that incurred a partial charge-off and moved to non-accrual this quarter. Quarterly provision expense increased to $9.6 million, compared to $2.2 million in the prior quarter, primarily as a result of this credit. Excluding this relationship, underlying trends for the quarter remained solid. Operating revenue was stable at $194.3 million, supported by growth in net interest income. Wealth management revenue increased 15.5% from the prior year. We also maintained strong expense discipline, producing an efficiency ratio of 54.4%. Deposit growth remained a highlight, increasing at an annualized rate of 11% for the second consecutive quarter as we continued to add relationships and deepen client primacy across our markets. As anticipated, loan balances declined during the quarter, including the repositioning of approximately $65 million of lender finance loans to held for sale as part of our ongoing portfolio management efforts. The loan-to-deposit ratio improved to 82.5% from 87.2% last quarter. Capital remained strong with Common Equity Tier 1 Capital to Risk Weighted Assets rising to 12.5% (compared to 12.3% a year ago), even after $188.4 million in year-to-date share repurchases, including $59.6 million this quarter. As we enter the final quarter of 2026, we remain well positioned with an indomitable balance sheet, ample liquidity, and significant capital flexibility. While macroeconomic uncertainty persists, we are confident in our ability to navigate a range of operating environments while continuing to support our clients and create long-term value for our shareholders.”