First Busey Corporation (Nasdaq: BUSE) announced its 2025 Second Quarter Earnings, reporting a net income of $47.4 million and a diluted EPS of $0.52. The ROAA was 1.00%, and the ROATCE was 11.24%. The bank merger with CrossFirst Bank resulted in a premier banking experience with 78 locations across 10 states. The financial results for the quarter showed a total interest income of $247,446 and a net interest margin of 3.49%. Adjusted net income was $57.4 million, with an adjusted diluted EPS of $0.63. Pre-provision net revenue was $64.2 million, and adjusted pre-provision net revenue was $80.8 million. Net interest income was $153.2 million, with a net interest margin of 3.49%. Busey reported an adjusted net interest margin of 3.33% for Q2 2025, up from 3.08% in Q1 2025 and 3.00% in Q2 2024. The increase was driven by factors such as higher loan yields and decreased borrowing expenses. A +100 basis point rate shock is expected to boost net interest income by 2.8% over the next twelve months. Noninterest income surged by 111.4% from Q1 2025, driven by securities gains and the CrossFirst acquisition. Wealth management fees and payment technology solutions were key contributors to noninterest income, representing 56.4% of adjusted noninterest income for Q2 2025.

Wealth management fees saw a 3.4% decline in Q2 2025, primarily due to seasonal factors. Payment technology solutions revenue dropped by 2.3% compared to Q1 2025. Treasury management services income surged by 65.1%, driven by CrossFirst commercial services. Card services and ATM fees increased by 31.6% due to CrossFirst corporate card services. Other noninterest income decreased by 28.4% from Q1 2025 but increased by 51.9% from Q2 2024. Busey’s fee-based businesses continue to provide revenue diversification, with a focus on long-term returns and risk management in volatile markets. Busey’s operating efficiency saw a 14.1% increase in total noninterest expense compared to the first quarter of 2025, primarily due to acquisition expenses and operating costs for newly merged banks. The company expects to realize $25.0 million in annual pre-tax expense synergies from the CrossFirst acquisition, with 50% expected in 2025 and 100% in 2026. Adjusted noninterest expense increased by 28.6% in the second quarter of 2025. Salaries, wages, and employee benefits expenses saw a significant increase, while data processing expenses also rose due to technology investments.

Busey’s efficiency ratio for the second quarter of 2025 was 63.9%, with an adjusted efficiency ratio of 55.3%. The company’s annualized ratio of adjusted noninterest expense to average assets was 2.24%. Total assets were $18.92 billion as of June 30, 2025, with average interest-earning assets of $17.70 billion for the same quarter. Busey maintains a conservative approach to underwriting and pricing in its loan portfolio due to ongoing macroeconomic uncertainties. Busey’s commercial real estate portfolio continues to grow, with loans totaling $13.81 billion as of June 30, 2025. Asset quality remains strong, with non-performing loans at 0.40% of the portfolio. Net charge-offs decreased by $18.5 million compared to the first quarter of 2025. Deposits totaled $15.80 billion at June 30, 2025, with core deposits making up 92.5% of the total. Busey redeemed $125.0 million of its subordinated notes on June 1, 2025, to manage its borrowing strategy effectively.

As Busey’s commercial real estate portfolio grows, loans total $13.81 billion at June 30, 2025. Asset quality remains strong, with non-performing loans at 0.40% of the portfolio. Net charge-offs decreased by $18.5 million compared to the first quarter of 2025. Deposits totaled $15.80 billion at June 30, 2025, with core deposits making up 92.5% of the total. Busey redeemed $125.0 million of its subordinated notes on June 1, 2025, to manage its borrowing strategy effectively. First Busey Corporation’s Subordinated Notes amount to $128.3 million, with liquidity totaling $7.95 billion as of June 30, 2025. The company’s capital ratios remain strong, with Common Equity Tier 1 ratio estimated at 12.22% and Total Capital to Risk Weighted Assets ratio at 15.75% at June 30, 2025. Busey’s tangible common equity was $1.71 billion, up 13.0% year-over-year. The company paid dividends of $0.25 per share on common stock and $20.00 per share on Series A Non-cumulative Perpetual Preferred Stock in the second quarter of 2025. Busey issued 8.6 million depositary shares for its Series B Preferred Stock, with plans for repurchasing up to 2 million shares of common stock. Busey Bank, a subsidiary of First Busey Corporation, had total assets of $18.87 billion as of June 30, 2025. Busey was recognized by Forbes as America’s Best Banks for the fourth consecutive year and as a Best-in-State Bank in 2025. Busey has been recognized as a top financial services organization with a strong commitment to integrity and community development. The company uses non-GAAP financial measures to analyze performance and make business decisions, providing investors with additional perspective. Reconciliations between non-GAAP and GAAP measures are available for transparency. Busey adjusted its presentation to include the provision for unfunded commitments within the provision for credit losses. Adjusted net income, average tangible common equity, and related ratios have been revised for all periods presented for accuracy. The company also adjusted noninterest income, revenue measures, noninterest expense, efficiency ratios, and more to ensure clarity and transparency in financial reporting. Busey reported tangible assets of $18,430,559, tangible common equity of $1,709,168, and a tangible common equity to tangible assets ratio of 9.27% as of June 30, 2025. The core deposits totaled $14,620,396 with a core deposits to total deposits ratio of 92.52% in the same period. The company revised its calculations to exclude any tax adjustment starting in 2025. Forward-looking statements caution investors about potential factors beyond Busey’s control that could impact financial results. Capital amounts and ratios for the second quarter of 2025 are subject to change.

For more information, investors can contact Scott A. Phillips, Interim Chief Financial Officer at 239-689-7167. 1. The stock market surged today, with the S&P 500 reaching a record high of 4,500 points. Tech stocks saw the biggest gains, with companies like Apple and Amazon leading the way.

2. In international news, tensions between Russia and Ukraine continue to escalate, with reports of increased military activity along the border. The US and European Union have condemned Russia’s actions and have called for a peaceful resolution to the conflict.

3. On the economic front, the US economy added 943,000 jobs in July, surpassing expectations. The unemployment rate dropped to 5.4%, the lowest since the start of the pandemic. Economists are optimistic about the recovery.

4. In sports news, Simone Biles made a triumphant return to the Olympics, winning bronze in the balance beam final. The gymnastics superstar withdrew from previous events to focus on her mental health, sparking an important conversation about athlete well-being.

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3. “FDA approves Pfizer’s COVID-19 vaccine for children ages 5 to 11, boosting vaccination efforts.” – Reuters

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