First Busey: 4Q Earnings Snapshot
CHAMPAIGN, Ill. (AP) _ First Busey Corp. (BUSE) on Tuesday reported fourth-quarter net income of $25.3 million.
The Champaign, Illinois-based bank said it had earnings of 51 cents per share. Earnings, adjusted for one-time gains and costs, were 53 cents per share.
The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 54 cents per share.
The bank holding company posted revenue of $97.2 million in the period. Its revenue net of interest expense was $83.4 million, which also fell short of Street forecasts. Five analysts surveyed by Zacks expected $84.5 million.
For the year, the company reported profit of $98.9 million, or $2.01 per share. Revenue was reported as $331.4 million.
First Busey shares have increased 5 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $25.78, a decrease of 17 percent in the last 12 months.