Loading...
•
Dec 31, 2019
First Busey Q4 2019 Earnings Report
Net income and adjusted net income increased, diluted earnings per share increased, and wealth management segment revenue increased.
Key Takeaways
First Busey Corporation reported a positive fourth quarter in 2019, with net income increasing to $28.6 million and diluted earnings per share rising to $0.52. The wealth management segment also saw significant growth, with revenue increasing by 26.2% to $11.4 million.
Net income for Q4 2019 increased to $28.6 million.
Adjusted net income for Q4 2019 increased to $31.8 million.
Q4 2019 diluted earnings per share reached $0.52, while adjusted earnings per share was $0.57.
Wealth management segment revenue for Q4 2019 increased by 26.2% to $11.4 million.
First Busey
First Busey
First Busey Revenue by Segment
Revenue by Segment
Wealth management fees Revenue
CapyFin.com Forward Guidance
Management is finalizing macroeconomic conditions and forecast assumptions to be used in our CECL model; however, we expect an initial increase to the allowance for credit losses, including the increase in reserve for unfunded commitments, of approximately 25% to 45% above the existing allowance for loan loss levels.