First Busey Corporation reported first‑quarter 2026 results that surpassed expectations, delivering a net income of $50 million and a diluted earnings per share of $0.52. Adjusted earnings, which exclude one‑time gains and costs, reached $0.67 per share, beating the consensus estimate of $0.57 from five analysts surveyed by Zacks Investment Research.
Revenue for the quarter was $196.23 million, a figure that fell short of the $197.2 million consensus estimate by $0.97 million. The shortfall was driven by a lower non‑interest income of $43 million, compared with $109 million reported in the original article. Net interest income remained strong at $158 million, reflecting the bank’s ability to maintain a healthy net interest margin.
The bank’s net interest margin expanded by 6 basis points to 3.77%, a result of higher asset yields and disciplined deposit costs. The efficiency ratio improved by 390 basis points to 54.8%, underscoring effective cost control. These margin gains offset the decline in non‑interest income and helped lift adjusted earnings.
Segment performance highlights include a 7.0% increase in wealth‑management fees, while other non‑interest income declined due to lower fee‑based activity. The integration of CrossFirst Bankshares, completed on March 1, 2025, has begun to deliver synergies, improving the efficiency ratio and supporting the bank’s overall profitability.
CEO Van A. Dukeman noted that the results “reflect strong core banking performance and effective margin management.” He added that the bank’s adjusted diluted EPS of $0.67, up 17.5% year‑over‑year, demonstrates the impact of disciplined cost control and the successful integration of CrossFirst. Dukeman also highlighted the bank’s robust capital position and liquidity, positioning First Busey to drive value for shareholders in a volatile macro environment.
Management indicated that the company remains on track to meet its guidance for the remainder of the year, signaling confidence in continued earnings momentum and the benefits of the CrossFirst integration.
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