First Busey: Q2 Earnings Snapshot
CHAMPAIGN, Ill. (AP) _ First Busey Corp. (BUSE) on Tuesday reported second-quarter earnings of $29.8 million.
The bank, based in Champaign, Illinois, said it had earnings of 53 cents per share. Earnings, adjusted for non-recurring costs, were 54 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 57 cents per share.
The bank holding company posted revenue of $113.6 million in the period. Its revenue net of interest expense was $106.9 million, which also fell short of Street forecasts. Four analysts surveyed by Zacks expected $108.7 million.
First Busey shares have fallen nearly 9% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $24.78, an increase of nearly 8% in the last 12 months.