Busey Reports Q4 Revenue of $200.2M, Beating Expectations
Reports Q4 revenue $200.2M, consensus $197.7M. CEO Van Dukeman says: "Our results this quarter represent a meaningful culmination to a year of strong performance and the completed merger and integration of CrossFirst. Profitability in the fourth quarter showed vast improvement from last year with adjusted return on average assets2 improving 39 basis points to 1.41% and net interest margin2 expanding 76 basis points to 3.71%, driven by continued strong deposit cost control. Wealth management fee income had a record quarter as assets under care were up 4.7% quarter-over-quarter to $15.66 billion driven by strong investment performance and positive net flows from new and legacy markets. Capital remained strong, and Common Equity Tier 1 Capital to Risk Weighted Assets3 grew to 12.44%, a 11 basis point increase from the prior quarter. Tangible common equity to tangible assets2 grew to 10.06% with tangible book value per common share2 increasing 13.1% over the prior year end, even as we repurchased $29.8 million of stock in the fourth quarter and $69.9 million for the full year. Loan balances were stable quarter-over-quarter and deposits were down $164.2 million due to the intentional runoff of $180.0 million as Busey continued its strategic, targeted reduction of brokered and high-cost, non-relationship funding. As we look forward to 2026, Busey is well positioned to navigate diverse macroeconomic scenarios given its robust capital and liquidity position and disciplined credit and risk management culture."
