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Get filing alertsFirst Busey reports Q2 2026 net income of $63.2M ($0.69 EPS), up 9.5% YoY adjusted
Filed July 28, 2026 · Period ending July 28, 2026 · ~2 min read
Key Changes
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Q2 2026 net income was $63.2M ($0.69 per diluted share), up 33% from Q1 and 9.5% YoY on an adjusted basis. Return on average assets reached 1.42% and return on average tangible common equity hit 14.49%.
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Adjusted net interest margin expanded 29 basis points YoY to 3.62%. Deposits grew $392.7M (2.7%, 11% annualized) driven by seasonal public funds and core deposit initiatives.
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Common Equity Tier 1 ratio rose to 12.53% despite $128.8M in YTD share repurchases, including $63.1M in Q2 (2.34M shares at $26.98 average). Tangible book value per share grew 6.4% YoY to $20.40.
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Wealth Management posted its third consecutive record quarter for fee income, with assets under care reaching $16.51B, up from $15.65B in Q1 2026 and $14.10B in Q2 2025.
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Loans declined $265M quarter-over-quarter due to payoff headwinds expected to continue into Q3. Non-performing assets increased $20.4M to 0.39% of total assets, driven by one commercial credit with partial charge-off; net charge-offs remained low at 0.19%.
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Summary
First Busey Corporation reported strong second quarter 2026 results, with net income of $63.2 million ($0.69 per diluted share) representing 33% sequential growth and 9.5% year-over-year improvement on an adjusted basis. Profitability metrics strengthened materially, with return on average assets reaching 1.42% and return on average tangible common equity hitting 14.49%.
The adjusted net interest margin expanded 29 basis points year-over-year to 3.62%, declining only 2 basis points from the prior quarter despite industry headwinds. Deposit growth was robust at $392.7 million (2.7% quarter-over-quarter, 11% annualized), driven by seasonal public funds inflows and strategic core deposit initiatives.
The company continued aggressive capital deployment, repurchasing $63.1 million of stock in the quarter (2.34 million shares at $26.98 average) while maintaining a strong Common Equity Tier 1 ratio of 12.53%. Tangible book value per share grew 6.4% year-over-year to $20.40. Wealth Management delivered its third consecutive record quarter, with assets under care reaching $16.51 billion. The loan portfolio contracted $265 million due to payoff headwinds expected to persist into Q3 2026. Non-performing assets increased $20.4 million to 0.39% of total assets, driven by one commercial credit that received a partial charge-off and specific reserve, though the sponsor remains engaged. Net charge-offs remained contained at 0.19% annualized, and the allowance for credit losses stood at 1.24% of portfolio loans.
Section-by-Section Diff
Event · Item 2.02 — Results of Operations and Financial Condition
First Busey Corporation disclosed Q2 2026 financial results via earnings release.
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On July 28, 2026, First Busey Corporation (“Busey”) issued a press release (“Earnings Release”) disclosing financial results for the quarter ended June 30, 2026.
First Busey Corporation announced its financial results for the second quarter ended June 30, 2026, through a press release. The 8-K itself does not contain the actual financial figures; those are in the attached Exhibit 99.1 earnings release, which is incorporated by reference.
Event · Item 7.01 — Regulation FD Disclosure
Busey published Q2 2026 earnings investor presentation discussing financial results for the quarter ended June 30, 2026.
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On July 28, 2026, Busey published its Earnings Investor Presentation discussing financial results for the quarter ended June 30, 2026.
The company published an investor presentation covering its second quarter 2026 financial results. The presentation is attached as Exhibit 99.2. This is a routine disclosure mechanism for communicating quarterly performance to investors.
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
Second quarter 2026 net income for First Busey Corporation, together with its consolidated subsidiaries (“Busey,” the “Company,” “we,” “us,” or “our”) was $63.2 million, or $0.69 per diluted common share, compared to net income of $50.0 million, or $0.52 per diluted common share, for the first quarter of 2026, and $47.4 million, or $0.52 per diluted common share, for the second quarter of 2025. Annualized return on average assets2 and annualized return on average tangible common equity2 were 1.42% and 14.49%, respectively, for the second quarter of 2026.
Busey reported Q2 2026 net income of $63.2 million, or $0.69 per diluted share, up 33% from Q1 2026 and up from $47.4 million ($0.52 per share) in Q2 2025. Adjusted diluted EPS was $0.69, up 9.5% year-over-year. Return on average assets improved to 1.42% and return on average tangible common equity reached 14.49%, reflecting strong profitability expansion.
Added in current filing · view on EDGAR →
Adjusted net interest margin2 rose by 29 basis points year-over-year to 3.62%, easing just 2 basis points from the prior quarter. ... Deposit growth was significant at 11% annualized during the quarter and demonstrates the primacy and depth of our client relationships. ... Deposit balances increased by $392.7 million, or 2.7%, as a result of seasonal public funds inflows and strategic efforts to grow core customer deposits.
Adjusted net interest margin expanded 29 basis points year-over-year to 3.62%, declining only 2 basis points from the prior quarter. Deposits grew $392.7 million (2.7%) during Q2, representing 11% annualized growth driven by seasonal public funds and core deposit initiatives. Total deposit cost of funds improved slightly to 1.80% from 1.81% in Q1.
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Our conservative approach to credit risk management has led to strong and stable asset quality with net charge-offs at 0.19%. ... Non-performing assets increased by $20.4 million compared to March 31, 2026, and increased by $12.2 million compared to June 30, 2025. The quarter-over-quarter increase was driven by one commercial credit where a partial charge-off was taken and a specific reserve was allocated; the sponsor remains engaged and is working towards a resolution. Non-performing assets represented 0.39% of total assets as of June 30, 2026, an 11 basis point increase from March 31, 2026, and an 8 basis point increase from June 30, 2025.
Net charge-offs remained low at 0.19% annualized. Non-performing assets increased $20.4 million quarter-over-quarter to 0.39% of total assets, driven by one commercial credit that received a partial charge-off and specific reserve; the sponsor remains engaged. The allowance for credit losses stood at $164.2 million, representing 1.24% of portfolio loans and 2.4 times non-performing loans.
Event · Exhibit 99.2
First Busey reported Q2 2026 earnings with adjusted EPS of $0.69, net interest margin of 3.72%, and record wealth management revenue of $20.1 million.
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Adj. Diluted EPS 1 $0.67 $0.69 Adj. Net Income to Common S/H 1 $59 million $59 million Total Operating Revenue 1 $197 million $194 million Net Interest Margin 1 3.77% 3.72% Adj. Net Interest Margin 1 3.64% 3.62% Net Interest Income $154 million $152 million Adj. Noninterest Income 1 $43 million $42 million Adj. Pre-Provision Net Revenue 1 $84 million $85 million Adj. PPNR ROAA 1 1.89% 1.90% Adj. ROAA 1 1.42% 1.43% Adj. ROATCE 1 14.12% 14.61% Efficiency Ratio 1 54.8% 54.0% Total Assets $18.0 billion $18.2 billion Total Loans $13.5 billion $13.2 billion Total Deposits $14.7 billion $15.1 billion TBV / Share 1 $20.14 $20.40
First Busey reported second quarter 2026 adjusted diluted earnings per share of $0.69, up from $0.67 in the prior quarter and representing 9.5% year-over-year growth. Adjusted return on average assets was 1.43% and adjusted return on average tangible common equity was 14.61%, with an efficiency ratio of 54.0%. Total assets grew to $18.2 billion while loans declined to $13.2 billion and deposits increased to $15.1 billion.
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Deposits increased by $393 million, or 2.7% QoQ, driven by seasonal public funds inflows and strategic efforts to grow core customer deposits
Total deposits grew by $393 million, or 2.7% quarter-over-quarter, to $15.1 billion, primarily due to seasonal public funds inflows in the Midwest region and strategic initiatives to grow core customer deposits. The total cost of deposits was 1.80% in the second quarter of 2026. Core deposits represented 93.7% of total deposits, and the company reduced borrowings by $185 million during the quarter.
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2Q26 Wealth segment revenue of $20 million, up 3.2% QoQ, and a third consecutive record quarter for wealth revenue
Wealth management posted its third consecutive quarter of record revenue with $20.1 million in the second quarter of 2026, up 3.2% from the prior quarter and 19% year-over-year. Assets under care reached $16.5 billion as of June 30, 2026, up 17% year-over-year, driven by net new inflows across the footprint including from new Western markets and positive market performance. The pre-tax profit margin for the wealth segment was 49.0%.
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Since embarking on share repurchase initiative in March 2025, repurchased ~9% of the total common shares that were outstanding at 3/31/25 and returned nearly $200 million to shareholders via buybacks
First Busey has been actively repurchasing shares since March 2025, buying back approximately 9% of the common shares outstanding as of March 31, 2025, and returning nearly $200 million to shareholders through the program. In the second quarter of 2026, the company repurchased 2.34 million shares at an average price of $26.98, returning $63.1 million to shareholders. Tangible book value per share increased to $20.40, up 6% year-over-year.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 29, 2026 · How we verify