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Sep 30
First Busey Q3 2025 Earnings Report
First Busey Corporation announced its third quarter 2025 earnings, reporting a net income of $57.1 million and diluted EPS of $0.58.
Key Takeaways
First Busey Corporation delivered a strong third quarter in 2025, with net income increasing to $57.1 million and diluted EPS reaching $0.58. The company successfully optimized its balance sheet by reducing high-cost, non-relationship deposits, which contributed to an improved adjusted return on average assets of 1.33% and an expanded net interest margin of 3.58%. Credit quality also showed improvement, with classified assets as a percentage of capital falling to 7.0%.
Net income for Q3 2025 was $57.1 million, a significant increase from $32.0 million in Q3 2024.
Diluted EPS for Q3 2025 was $0.58, up from $0.55 in the same period last year.
Adjusted return on average assets improved to 1.33%, and net interest margin expanded by 9 basis points to 3.58%.
The company strategically reduced $794.6 million in high-cost, non-relationship deposits, leading to lower deposit costs.
First Busey
First Busey
First Busey Revenue by Segment
Revenue by Segment
Wealth management fees Revenue
CapyFin.comPayment technology solutions Revenue
CapyFin.comTreasury management services Revenue
CapyFin.comCard services and ATM fees Revenue
CapyFin.comOther service charges on deposit accounts Revenue
CapyFin.comMortgage Revenue
CapyFin.comIncome on bank owned life insurance Revenue
CapyFin.comNet securities gains (losses) Revenue
CapyFin.comOther noninterest income Revenue
CapyFin.com Forward Guidance
First Busey Corporation anticipates the balance sheet optimization efforts to be largely completed by the end of the year, expecting relative stability in loans and deposits as the company continues to pursue its disciplined organic growth strategy. The company also expects to realize 50% of the identified $25.0 million annual pre-tax expense synergies from the CrossFirst acquisition in 2025, with 100% realization in 2026.
Positive Outlook
- Balance sheet optimization is expected to be largely complete by year-end, leading to stability.
- Continued execution on a disciplined organic growth strategy.
- 50% of $25.0 million annual pre-tax expense synergies from CrossFirst acquisition expected in 2025.
- 100% of CrossFirst acquisition synergies expected to be realized in 2026.
- Expectation of continued stability in core deposit balances and sufficient funding flows.
Challenges Ahead
- Loan balances fell modestly due to higher than anticipated payoffs impacting the quarter.
- Expect continued pressure, particularly from commercial real estate payoffs through the remainder of 2025.
- A -100 basis point parallel rate shock is expected to decrease net interest income by 1.3% over the subsequent twelve-month period.
- Non-performing assets increased by $49.4 million compared to September 30, 2024, primarily due to PCD loans from the CrossFirst acquisition.
- Classified assets increased by $72.1 million compared to September 30, 2024, also primarily due to PCD loans from the CrossFirst acquisition.