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First Busey: 4Q Earnings Snapshot

CHAMPAIGN, Ill. (AP) _ First Busey Corp. (BUSE) on Tuesday reported fourth-quarter net income of $28.6 million.

The bank, based in Champaign, Illinois, said it had earnings of 52 cents per share. Earnings, adjusted for non-recurring costs, came to 57 cents per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 54 cents per share.

The bank holding company posted revenue of $120.4 million in the period. Its revenue net of interest expense was $103.6 million, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $102.9 million.

For the year, the company reported profit of $103 million, or $1.87 per share. Revenue was reported as $403.6 million.

First Busey shares have decreased roughly 4% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $26.52, a climb of nearly 3% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BUSE at https://www.zacks.com/ap/BUSE