FIRST BUSEY CORP DEP SHS REPSTG 1/40TH INT NON CUM PE | 8-K: FY2025 Q4 Revenue: USD 277.79 M

Revenue: As of FY2025 Q4, the actual value is USD 277.79 M.

EPS: As of FY2025 Q4, the actual value is USD 0.63.

EBIT: As of FY2025 Q4, the actual value is USD -77.63 M.

Net Income and Profitability

Adjusted Net Income to Common Shareholders was $61 million in Q4 2025, up from $57 million in Q3 2025. For the full year 2025, Adjusted Net Income Available to Common Stockholders was $215.098 million . GAAP Net Income was $60.750 million in Q4 2025 and $135.262 million for the full year 2025 . First Busey Corporation reported a net income of $60.8 million for the fourth quarter of 2025, an increase from $57.1 million in the third quarter of 2025 and $28.1 million in the fourth quarter of 2024 . For the full year 2025, net income was $135.3 million . Adjusted net income available to common stockholders for the fourth quarter was $60.6 million, compared to $57.4 million for the third quarter of 2025 and $30.9 million for the fourth quarter of 2024 . Full-year 2025 adjusted net income available to common stockholders was $215.1 million .

Adjusted Return on Average Assets (ROAA) accelerated to 1.41% in Q4 2025, compared to 1.33% in Q3 2025 and 1.02% in Q4 2024 . Annualized ROAA for Q4 2025 was 1.32%, with an adjusted ROAA of 1.41% . Full-year 2025 ROAA was 0.76%, and adjusted ROAA was 1.27% . Adjusted Return on Average Tangible Common Equity (ROATCE) was 13.58% in Q4 2025, up from 13.20% in Q3 2025 . Annualized ROATCE for Q4 2025 was 12.59%, with an adjusted ROATCE of 13.58% . Full-year 2025 ROATCE was 7.48%, and adjusted ROATCE was 12.83% . Pre-provision net revenue was $80.6 million for Q4 2025, increasing from $76.6 million in Q3 2025 and $38.4 million in Q4 2024 . Adjusted pre-provision net revenue was $85.4 million for Q4 2025 . Full-year 2025 pre-provision net revenue was $250.1 million, and adjusted pre-provision net revenue was $304.8 million .

Revenue and Net Interest Margin

Total Operating Revenue reached $201 million in Q4 2025, compared to $197 million in Q3 2025 . Net Interest Income was $157.6 million in Q4 2025, an increase from $155.1 million in Q3 2025 . For the full year 2025, GAAP Net Interest Income was $569.609 million . Net Interest Margin (NIM) sustained an upward trajectory, increasing by 13 basis points quarter-over-quarter to 3.71% in Q4 2025, and 76 basis points year-over-year . The net interest margin for Q4 2025 was 3.71%, expanding 76 basis points from the prior year . The adjusted net interest margin was 3.59% for Q4 2025 . Full-year 2025 net interest margin was 3.51% . Adjusted Noninterest Income was $43.4 million in Q4 2025, up from $42 million in Q3 2025 . For the full year 2025, Noninterest Income excluding net securities gains and losses was $160.701 million . Total noninterest income increased by 3.6% in Q4 2025 compared to Q3 2025, reaching $42,691 thousand . This represents a 21.2% increase compared to Q4 2024 . For the full year 2025, total noninterest income increased by 7.4% .

Operational Costs and Efficiency

Adjusted Noninterest Expense was - $111.1 million in Q4 2025, compared to - $108.3 million in Q3 2025 . For the full year 2025, Adjusted Noninterest Expense was $408.938 million . The Adjusted Efficiency Ratio was 55.0% in Q4 2025, slightly up from 54.8% in Q3 2025, but a significant improvement from 61.8% in Q4 2024 . Operating expenses for FY 2025 increased by 44% to $408.9 million, while operating revenue increased by 59% to $730.4 million, demonstrating positive operating leverage of +15% . The company realized 100% of the anticipated ~ $25 million cost savings from the CrossFirst acquisition by December 31, 2025 . Total noninterest expense increased by 0.3% in Q4 2025 compared to Q3 2025, totaling $120,320 thousand . This was a 53.0% increase compared to Q4 2024, largely due to acquisition expenses from the CrossFirst acquisition and expansion of the combined organization . Adjusted noninterest expense was $111,072 thousand for Q4 2025 . The efficiency ratio was 57.4% for Q4 2025, an improvement from 58.5% in Q3 2025 and 64.8% in Q4 2024 . The adjusted efficiency ratio was 55.0% for Q4 2025 . The effective tax rate for Q4 2025 declined to 21.6% from 26.1% in Q3 2025 . For the full year 2025, the effective tax rate was 27.5% . First Busey Corporation expects to incur a non-recurring pre-tax expense of approximately $9 million in the first quarter of 2026 related to severance payments and benefits for Michael J. Maddox .

Segment Revenue and Unique Metrics

Wealth Management segment revenue reached a new quarterly record of $18.3 million in Q4 2025, and an all-time high of $70.2 million for FY 2025 . Pre-tax net income for Wealth Management was $8.5 million in Q4 2025, a year-over-year increase of +10% . Assets Under Care (AUC) were $15.7 billion at December 31, 2025, growing $0.7 billion quarter-over-quarter and $1.8 billion year-over-year (+13%) . Busey’s Wealth Management division ended Q4 2025 with $15.66 billion in assets under care, up from $14.96 billion at the end of Q3 2025 and $13.83 billion at the end of Q4 2024 . Net New Loan Production in Q4 2025 was $680 million, which was $273 million higher than Q3 2025 . Tangible Book Value (TBV) per share was $20.23 in Q4 2025, up $2.35 per share or +13% since December 31, 2024 . Share repurchases totaled $30 million in Q4 2025 (1.25 million shares) and $70 million for FY 2025 (~3.06 million shares) . In Q4 2025, the company repurchased 1,251,100 shares of common stock for $29.8 million . For the full year 2025, 3,063,100 shares were repurchased for $69.9 million . As of December 31, 2025, 4,856,175 shares remained available for repurchase .

Noninterest Income Detail for Q4 2025 (in thousands): Wealth Management Fees: $18,101 (+8% YoY) . Full-year 2025 wealth management fees were $69,426 thousand . Payment Technology Solutions: $4,879 (-4% YoY) . Full-year 2025 was $20,000 thousand . Treasury Management Services: $4,726 (+122% YoY) . Full-year 2025 was $17,322 thousand . Card Services and ATM Fees: $4,660 (+34% YoY) . Full-year 2025 was $18,048 thousand . Other Service Charges on Deposit Accounts: $1,618 (-32% YoY) . Mortgage Revenue: $803 (+62% YoY) . Income on Bank Owned Life Insurance: $1,783 (+65% YoY) . Other Noninterest Income: $6,788 (+71% YoY) . Full-year 2025 was $20,462 thousand .

Credit Quality and Capital

Allowance for Credit Losses to Loans remained at 1.28% in Q4 2025 . Nonperforming Assets to Total Assets was 0.32% in Q4 2025, compared to 0.19% in Q4 2024 . Net Charge-Offs to Average Loans (annualized) was 0.17% in Q4 2025 . Provision for credit losses was - $2.4 million in Q4 2025 . The company maintains a robust capital foundation with Common Equity Tier 1 (CET1) ratio of 12.4%, Tier 1 Capital ratio of 13.9%, and Total Capital ratio of 15.9% at December 31, 2025 . Excess capital over well-capitalized minimums with buffer was $839 million for CET1 . Tangible Common Equity (TCE) to Tangible Assets was 10.06% at December 31, 2025 . Non-performing loans were $53,486 thousand at December 31, 2025, representing 0.39% of portfolio loans . Non-performing assets were $58,112 thousand, or 0.32% of total assets . The allowance for credit losses was $174.0 million as of December 31, 2025, representing 1.28% of total portfolio loans and 3.25 times the non-performing loans balance . Net charge-offs were $5,752 thousand in Q4 2025, a slight decrease from $5,848 thousand in Q3 2025 . Full-year 2025 net charge-offs were $55,910 thousand, including $36.2 million related to PCD loans from the CrossFirst acquisition . Provision for credit losses was $2,435 thousand in Q4 2025 . Full-year 2025 provision for credit losses was $52,743 thousand . Common Equity Tier 1 Capital to Risk Weighted Assets was 12.44% at December 31, 2025, an 11 basis point increase from the prior quarter . Total capital to risk weighted assets was 15.93% . Tangible common equity was $1,773,056 thousand at December 31, 2025 . Tangible common equity to tangible assets was 10.06% . Tangible book value per common share was $20.23, increasing 13.1% over the prior year-end .

Deposits and Liquidity

Total assets stood at $18.1 billion in Q4 2025, a slight decrease from $18.2 billion in Q3 2025 . Total loans remained stable at $13.6 billion, while total deposits decreased to $14.9 billion from $15.1 billion in Q3 2025 due to intentional runoff of high-cost deposits and seasonal public fund outflows . Core deposits constituted 93.7% of total deposits, with 24.6% of total deposits being noninterest-bearing . The total cost of deposits in Q4 2025 was 1.91%, with a spot cost of 1.80% at December 31, 2025 . Available sources of on- and off-balance sheet liquidity totaled $7.7 billion, including $0.3 billion of cash and cash equivalents . Portfolio loans were $13,567,799 thousand at December 31, 2025, stable quarter-over-quarter . Total commercial loans were $10,818,515 thousand, and total retail loans were $2,749,284 thousand . Total deposits were $14,905,958 thousand at December 31, 2025, down $164.2 million due to intentional runoff of $180.0 million in high-cost, non-relationship deposits . Core deposits accounted for 93.7% of total deposits . The total deposit cost of funds decreased from 2.15% in Q3 2025 to 1.91% in Q4 2025 . Estimated uninsured and uncollateralized deposits were 37% of total deposits as of December 31, 2025 . Available sources of on- and off-balance sheet liquidity totaled $7.68 billion as of December 31, 2025 . Cash flows from the securities portfolio were approximately $150.0 million in Q4 2025 and are expected to be approximately $347.1 million for 2026 . First Busey Corporation paid a quarterly common stock dividend of $0.25 per share in Q4 2025 . A cash dividend of $0.26 per common share outstanding is scheduled for January 30, 2026, representing a 4% increase from the previous quarterly dividend .

Outlook / Guidance

First Busey Corporation expects seasonal public fund outflows of ~$240 million experienced in Q4 2025 to rebuild in Q2 2026 and Q3 2026 . The balance sheet remains well-positioned for rate neutrality, with projected positive net interest income impacts for both +100 bps and +200 bps rate shocks over one and two years . The company expects seasonal inflows of public funds in the second and third quarters of 2026 to recover prior seasonal outflows .