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First Busey meets 1Q profit forecasts

CHAMPAIGN, Ill. (AP) _ First Busey Corp. (BUSE) on Tuesday reported first-quarter earnings of $15.2 million.

The bank, based in Champaign, Illinois, said it had earnings of 39 cents per share. Earnings, adjusted for one-time gains and costs, came to 41 cents per share.

The results met Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for earnings of 41 cents per share.

The bank holding company posted revenue of $64.9 million in the period. Its adjusted revenue was $62 million, which missed Street forecasts. Four analysts surveyed by Zacks expected $62.8 million.

First Busey shares have dropped nearly 1 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $30.58, an increase of 46 percent in the last 12 months.

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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

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Keywords: First Busey, Earnings Report