First Busey Corporation Completes Acquisition of CrossFirst Bankshares, Boosting Earnings and Efficiency Metrics
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First Busey Corporation has completed the acquisition of CrossFirst Bankshares, enhancing its earnings and efficiency metrics. The acquisition is expected to improve net interest income and margin, particularly in wealth and payments. Despite a rise in total deposit costs to 1.91%, it remains below peer averages. Management anticipates a slight increase in costs in Q2 2025, with normalization expected later in the year. Credit quality remains strong, supported by disciplined underwriting and reserves, despite an increase in classified assets post-acquisition.
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