Tearsheet

First Busey (BUSE)

Market Price (3/26/2026): $24.9 | Market Cap: $2.2 Bil
Sector: Financials | Industry: Regional Banks

First Busey (BUSE)

Market Price (3/26/2026): $24.9
Market Cap: $2.2 Bil
Sector: Financials
Industry: Regional Banks

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.1%, FCF Yield is 7.8%	Weak multi-year price returns 2Y Excs Rtn is -9.5%, 3Y Excs Rtn is -29%	Key risks BUSE key risks include [1] heightened credit risk and potential losses stemming from its commercial loan portfolio's sensitivity to adverse economic factors.
1	Cash is significant % of market cap Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -98%
2	Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 56%
3	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 27%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 24%
4	Low stock price volatility Vol 12M is 27%
5	Capital ratio is >2x the minimum of 6% Tier 1 Capital / Risk Wtd Assets RatioTier 1 Capital / Risk-Weighted Assets is a common measure of financial strength for a bank. It reflects how much equity there is relative to assets where assets are weighted based on riskiness. Low ratios indicate the bank is highly vulnerable to even small changes in the value of their risk assets. is 13%
6	Uninsured deposits are low Uninsured Deposits Ratio %Fraction of deposits that exceed the insurance deposit thresholds. For example, the FDIC protects deposits up to $250K. A high uninsured deposits ratio indicates large accounts and greater potential exposure to bank run risk. is 17%
7	Megatrend and thematic drivers Megatrends include Fintech & Digital Payments. Themes include Online Banking & Lending, Digital Payments, and Wealth Management Technology.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.1%, FCF Yield is 7.8%
1	Cash is significant % of market cap Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -98%
2	Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 56%
3	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 27%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 24%
4	Low stock price volatility Vol 12M is 27%
5	Capital ratio is >2x the minimum of 6% Tier 1 Capital / Risk Wtd Assets RatioTier 1 Capital / Risk-Weighted Assets is a common measure of financial strength for a bank. It reflects how much equity there is relative to assets where assets are weighted based on riskiness. Low ratios indicate the bank is highly vulnerable to even small changes in the value of their risk assets. is 13%
6	Uninsured deposits are low Uninsured Deposits Ratio %Fraction of deposits that exceed the insurance deposit thresholds. For example, the FDIC protects deposits up to $250K. A high uninsured deposits ratio indicates large accounts and greater potential exposure to bank run risk. is 17%
7	Megatrend and thematic drivers Megatrends include Fintech & Digital Payments. Themes include Online Banking & Lending, Digital Payments, and Wealth Management Technology.
8	Weak multi-year price returns 2Y Excs Rtn is -9.5%, 3Y Excs Rtn is -29%
9	Key risks BUSE key risks include [1] heightened credit risk and potential losses stemming from its commercial loan portfolio's sensitivity to adverse economic factors.

Valuation, Metrics & Events

	3/26/26	2025	2024	2023	2022
Share Price CYE	$24.90	$23.79	$23.57	$24.82	$24.72
Market Cap CYE ($ Bil)	2.2	2.1	1.3	1.4	1.4
Total Debt ($ Bil)	0.3	0.3	0.3	0.3	0.7
Total Cash ($ Bil)	0.3	0.3	0.7	0.7	0.2
Enterprise Value ($ Bil)	2.2	2.4	1.6	1.7	2.1
Valuation Ratios
P/S TTM	3.1	2.9	2.9	3.1	3.0
P/EBIT TTM	-	-	-	-	-
P/E TTM	16.3	15.6	11.8	11.2	10.7
P/FCF TTM	12.7	12.2	7.8	8.4	8.5
Sector Ratios
P/S TTM (Sector)	3.0	3.0	3.1	2.8	2.8
P/EBIT TTM (Sector)	6.6	7.2	8.1	7.1	6.8
P/E TTM (Sector)	10.7	10.9	11.5	9.9	9.3
P/FCF TTM (Sector)	8.2	8.6	8.8	7.7	6.4

	3/26/26	2025	2024
Share Price CYE	$24.90	$23.79	$23.57
Market Cap CYE ($ Bil)	2.2	2.1	1.3
Total Debt ($ Bil)	0.3	0.3	0.3
Total Cash ($ Bil)	0.3	0.3	0.7
Enterprise Value ($ Bil)	2.2	2.4	1.6
Valuation Ratios
P/S TTM	3.1	2.9	2.9
P/EBIT TTM	-	-	-
P/E TTM	16.3	15.6	11.8
P/FCF TTM	12.7	12.2	7.8
Sector Ratios
P/S TTM (Sector)	3.0	3.0	3.1
P/EBIT TTM (Sector)	6.6	7.2	8.1
P/E TTM (Sector)	10.7	10.9	11.5
P/FCF TTM (Sector)	8.2	8.6	8.8

	BUSE	S&P 500
REVENUE GROWTH	VERY GOOD
Rev LTM ($ Bil)	0.7
Rev Chg Q	71.4%	7.3%
Rev Chg LTM	55.7%	6.7%
Rev Chg 3Y Avg	19.5%	5.7%
PROFITABILITY	FAIR
Op Inc LTM ($ Bil)	�
CFO LTM ($ Bil)	0.2
Net Inc LTM ($ Bil)	0.1
CFO/Rev LTM	26.8%	20.7%
Net Inc Mgn	18.8%	12.8%
VALUATION	MODERATE
P/S	3.1	3.1
P/CFO	11.4	15.0
P/FCF	12.7	19.6
P/E	16.3	24.0

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Metric	Value	Date	Source
Assets Under Care	$14.96 Billion	10282025	Link
Payments Processed Annually	$12 Billion	10282025	Link
Wealth Management Assets Under Care	$14.10 billion	7222025	Link

Upcoming
4/28/2026	Earnings Release	Rev: $197 Mil (E) EPS: $0.55 (E)

Price Chart

Return (1M):

Why The Stock Moved

Qualitative Assessment

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First Busey (BUSE) stock has gained about 5% since 11/30/2025 because of the following key factors:

1. Strong Q4 2025 Earnings Beat and Revenue Growth. First Busey surpassed Q4 2025 earnings per share estimates by 11.48%, reporting $0.68 against a consensus of $0.61. This was accompanied by a significant 71.2% year-over-year revenue increase to $200.2 million, outperforming analyst expectations.

2. Expanded Net Interest Margin. The company achieved a notable expansion in its net interest margin to 3.71% in the fourth quarter of 2025, marking its highest level in six years, primarily due to effective deposit cost control.

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Stock Movement Drivers

Fundamental Drivers

The 6.9% change in BUSE stock from 11/30/2025 to 3/25/2026 was primarily driven by a 16.5% change in the company's Net Income Margin (%).

(LTM values as of)	11302025	3252026	Change
Stock Price ($)	23.30	24.90	6.9%
Change Contribution By:
Total Revenues ($ Mil)	636	720	13.1%
Net Income Margin (%)	16.1%	18.8%	16.5%
P/E Multiple	20.2	16.3	-19.5%
Shares Outstanding (Mil)	89	89	0.7%
Cumulative Contribution			6.9%

LTM = Last Twelve Months as of date shown

Market Drivers

11/30/2025 to 3/25/2026

	Return	Correlation
BUSE	6.9%
Market (SPY)	-3.6%	32.9%
Sector (XLF)	-7.2%	53.9%

Fundamental Drivers

The 2.9% change in BUSE stock from 8/31/2025 to 3/25/2026 was primarily driven by a 35.4% change in the company's Net Income Margin (%).

(LTM values as of)	8312025	3252026	Change
Stock Price ($)	24.19	24.90	2.9%
Change Contribution By:
Total Revenues ($ Mil)	558	720	28.9%
Net Income Margin (%)	13.9%	18.8%	35.4%
P/E Multiple	28.0	16.3	-41.7%
Shares Outstanding (Mil)	90	89	1.3%
Cumulative Contribution			2.9%

LTM = Last Twelve Months as of date shown

Market Drivers

8/31/2025 to 3/25/2026

	Return	Correlation
BUSE	2.9%
Market (SPY)	2.4%	36.4%
Sector (XLF)	-8.0%	58.6%

Fundamental Drivers

The 8.4% change in BUSE stock from 2/28/2025 to 3/25/2026 was primarily driven by a 55.7% change in the company's Total Revenues ($ Mil).

(LTM values as of)	2282025	3252026	Change
Stock Price ($)	22.96	24.90	8.4%
Change Contribution By:
Total Revenues ($ Mil)	462	720	55.7%
Net Income Margin (%)	24.6%	18.8%	-23.6%
P/E Multiple	11.5	16.3	41.4%
Shares Outstanding (Mil)	57	89	-35.5%
Cumulative Contribution			8.4%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2025 to 3/25/2026

	Return	Correlation
BUSE	8.4%
Market (SPY)	11.8%	54.8%
Sector (XLF)	-4.1%	66.8%

Fundamental Drivers

The 17.4% change in BUSE stock from 2/28/2023 to 3/25/2026 was primarily driven by a 78.1% change in the company's P/E Multiple.

(LTM values as of)	2282023	3252026	Change
Stock Price ($)	21.21	24.90	17.4%
Change Contribution By:
Total Revenues ($ Mil)	450	720	59.8%
Net Income Margin (%)	28.5%	18.8%	-34.0%
P/E Multiple	9.1	16.3	78.1%
Shares Outstanding (Mil)	55	89	-37.5%
Cumulative Contribution			17.4%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2023 to 3/25/2026

	Return	Correlation
BUSE	17.4%
Market (SPY)	72.4%	47.1%
Sector (XLF)	45.0%	65.9%

Return vs. Risk

Price Returns Compared

	2021	2022	2023	2024	2025	2026	Total [1]
Returns
BUSE Return	31%	-5%	5%	-1%	6%	6%	43%
Peers Return	31%	0%	-5%	27%	2%	-3%	56%
S&P 500 Return	27%	-19%	24%	23%	16%	-4%	75%
Monthly Win Rates [3]
BUSE Win Rate	67%	33%	58%	42%	50%	67%
Peers Win Rate	70%	45%	45%	57%	50%	33%
S&P 500 Win Rate	75%	42%	67%	75%	67%	33%
Max Drawdowns [4]
BUSE Max Drawdown	-3%	-18%	-30%	-11%	-18%	-0%
Peers Max Drawdown	-1%	-17%	-34%	-9%	-19%	-5%
S&P 500 Max Drawdown	-1%	-25%	-1%	-2%	-15%	-5%

[1] Cumulative total returns since the beginning of 2021
[2] Peers: EFSC, CBSH, UMBF, ASB, ONB.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 3/25/2026 (YTD)

How Low Can It Go

Unique Key	Event	BUSE	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-42.7%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	74.5%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	Not Fully Recovered days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-48.5%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	94.2%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	601 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-29.5%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	41.8%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	Not Fully Recovered days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-87.1%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	673.7%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	Not Fully Recovered days	1,480 days

Compare to EFSC, CBSH, UMBF, ASB, ONB

In The Past

First Busey's stock fell -42.7% during the 2022 Inflation Shock from a high on 1/18/2022. A -42.7% loss requires a 74.5% gain to breakeven.

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About First Busey (BUSE)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

First Busey Corporation operates as the bank holding company for Busey Bank that provides retail and commercial banking products and services to individual, corporate, institutional, and governmental customers in the United States. The company operates through three segments: Banking, FirsTech, and Wealth Management. It offers customary types of demand and savings deposits; and commercial, agricultural, real estate construction, commercial and residential real estate, and consumer loans, as well as home equity lines of credit. The company also provides money transfer, safe deposit, IRA, and other fiduciary services through banking center, ATM and technology-based networks. In addition, it offers investment management, trust, estate advisory, and financial planning services, as well as business succession and employee retirement planning services; investment strategy consulting and fiduciary services; and security brokerage services. Further, the company provides asset management, philanthropic advisory, tax preparation, and professional farm management services; and commercial depository services, such as cash management services. Additionally, it offers payment technology solutions through its payment platform, such as walk-in payment processing for customers at retail pay agents; online bill payment solutions; customer service payments accepted over the telephone; mobile bill pay; direct debit services; electronic concentration of payments delivered to automated clearing house network; money management and credit card networks; and lockbox remittance processing to make payments by mail, as well as provides tools related to billing, reconciliation, bill reminders, and treasury services. The company has 46 banking centers in Illinois; 8 in Missouri; 3 in southwest Florida; and 1 in Indianapolis, Indiana. First Busey Corporation was founded in 1868 and is headquartered in Champaign, Illinois.

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Here are 1-3 brief analogies for First Busey (BUSE):

A regional bank and wealth manager, similar to a smaller PNC Bank or Regions Financial.
A regional bank like Huntington Bancshares that also operates its own payment technology platform, similar to a small-scale Fiserv.

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Retail & Commercial Deposits: Provides customary demand and savings accounts for individuals, businesses, and institutions.
Lending Services: Offers a diverse portfolio of commercial, agricultural, real estate, and consumer loans, including home equity lines of credit.
Payment Technology Solutions (FirsTech): Delivers a platform for walk-in, online, mobile, and other electronic payment processing, alongside billing and treasury tools.
Wealth Management & Trust Services: Encompasses investment management, trust and estate advisory, financial planning, and business succession services.
Brokerage & Investment Advisory: Provides security brokerage services and investment strategy consulting.
Cash Management & Fiduciary Services: Offers commercial depository services for cash flow management and acts in a position of trust for client assets.

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First Busey (BUSE) serves a diverse customer base, including individuals, corporations, institutions, and governmental entities. Given the nature of its banking and financial services, it does not primarily sell to a few identifiable public companies. Instead, its major customers fall into broad categories. Here are the three primary categories of customers that First Busey serves:

Individual Customers: These customers utilize First Busey's retail banking services, including demand and savings deposits, consumer and home equity loans, and various money transfer, IRA, and safe deposit services. This category also encompasses individuals receiving wealth management, financial planning, trust, estate advisory, tax preparation, and security brokerage services.
Commercial and Corporate Customers: This category includes businesses, agricultural operations, and real estate developers that leverage commercial, agricultural, and real estate construction loans, as well as commercial and residential real estate loans. These customers also use cash management, business succession, and employee retirement planning services. Additionally, businesses contracting for payment technology solutions through the FirsTech segment fall into this category.
Institutional and Governmental Customers: This category includes various institutions and governmental bodies that utilize the company's investment management, trust, fiduciary services, asset management, philanthropic advisory, and specialized commercial depository services.

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Van A. Dukeman
Chairman, President & CEO of First Busey Corporation and Chairman & CEO of Busey Bank

Mr. Dukeman is the Chairman, President & CEO of First Busey Corporation and Chairman & CEO of Busey Bank. He also serves as a director of FirsTech, Inc.. Prior to its merger with First Busey in 2007, Mr. Dukeman served as President & Chief Executive Officer of Main Street Trust, Inc..

Christopher H.M. Chan
EVP & Chief Financial Officer of First Busey Corporation and Busey Bank

Mr. Chan joined Busey in 2025 as Chief Financial Officer for First Busey Corporation and Busey Bank. He previously served as Executive Vice President, Chief Strategy Officer at First National Bank, a subsidiary of F.N.B. Corporation. Mr. Chan oversees various areas including accounting and corporate reporting, financial planning and analysis, budgeting and forecasting, corporate insights, capital markets, treasury, specialty finance and community investments, corporate development, and investor relations.

Monica L. Bowe
EVP & Chief Risk Officer of First Busey Corporation and Busey Bank

Ms. Bowe is the Chief Risk Officer of First Busey Corporation and Busey Bank, having joined Busey in January 2020. She has over 25 years of financial leadership experience, including her previous role as Senior Director of Operational Risk Program Management at KeyBank.

Amy L. Randolph
Executive Vice President & Chief Operating Officer of First Busey Corporation and Busey Bank

Ms. Randolph serves as the Executive Vice President and Chief Operating Officer for First Busey Corporation and Busey Bank. In this role, she focuses on the operational efficiency across the Banking, Wealth Management, and FirsTech segments, overseeing day-to-day operations, managing cross-functional teams, and driving initiatives to enhance customer experience and operational excellence.

T. Anthony Hammond
President, Busey Bank

Mr. Hammond is the President of Busey Bank. He previously led various revenue areas of the company as Busey's President of Regional Banking. His prior experience includes serving as Executive Vice President and Head of Commercial and Middle Market Banking at Heartland Financial (HTLF), and various senior leadership roles at Arizona Bank & Trust, Johnson Bank, and BOK Financial. Mr. Hammond oversees Busey's regional operating sales and revenue model.

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Here are the key risks to First Busey (BUSE):

Credit Risk: As a bank holding company, First Busey faces the inherent risk that borrowers may default on their loans, which include commercial, agricultural, real estate construction, commercial and residential real estate, and consumer loans. Deterioration in the quality of its loan portfolio or persistent losses meaningfully above peer levels could significantly impact profitability and asset quality.
Net Interest Margin (NIM) Pressure and Interest Rate Sensitivity: First Busey's profitability is significantly influenced by its net interest margin, which is the difference between interest earned on assets (like loans) and interest paid on liabilities (like deposits). Changes in interest rates, as well as intense competition for deposits, can put downward pressure on the NIM, thereby affecting the company's net interest income and overall profitability.
Integration Challenges from Acquisitions: The company's recent merger with CrossFirst Bankshares, Inc. in March 2025, presents significant integration challenges. The failure to effectively integrate the operations, risk management, compliance, and corporate culture of the acquired entity could impede the realization of expected synergies, lead to unforeseen costs, and potentially disrupt operations and client relationships.

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Clear Emerging Threats for First Busey (BUSE):

Neobanks and Digital-First Lenders: Digital-only banks and specialized online lenders are attracting customers by offering streamlined experiences, lower fees, and competitive interest rates/loan terms without the overhead of physical branches. This directly challenges First Busey's core retail and commercial banking and lending operations.
Robo-Advisors: Automated investment and financial planning platforms provide low-cost, algorithm-driven advisory services. These services directly compete with First Busey's human-led investment management, trust, estate advisory, and financial planning offerings in the Wealth Management segment.
Big Tech's Expansion into Financial Services: Large technology companies (e.g., Apple, Google, Amazon) are increasingly offering financial products such as payment solutions, savings accounts, and even lending services. Leveraging their vast user bases and technological capabilities, they pose a disintermediation threat across various segments including payments (FirsTech) and core banking.

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First Busey Corporation (symbol: BUSE) operates in several addressable markets within the United States for its main products and services:

Retail Banking: The United States retail banking market was valued at approximately USD 870 billion in 2025. This market is projected to grow to about USD 1.08 trillion by 2030. This segment includes services such as demand and savings deposits, consumer loans, and home equity lines of credit.
Commercial Banking: The addressable market for commercial banking in the U.S. is estimated at USD 732.5 billion in 2025. Projections indicate this market could reach USD 915.45 billion by 2030. First Busey offers commercial, agricultural, and real estate construction loans as part of its commercial banking services.
Wealth Management / Asset Management: The United States asset management market, which encompasses investment management, trust, estate advisory, financial planning, and asset management services, was valued at approximately USD 52.08 trillion in 2024. This market is expected to grow to USD 134.67 trillion by 2030.
Payment Technology Solutions (FirsTech): The U.S. payment processing solutions market generated a revenue of USD 16.00 billion in 2023. This market is anticipated to reach USD 36.75 billion by 2030. First Busey's FirsTech segment provides various payment solutions, including walk-in payment processing, online bill payment, and mobile bill pay.

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First Busey (BUSE) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market dynamics: * **Integration and Expansion from the CrossFirst Bank Merger**: The successful merger with CrossFirst Bankshares, Inc. in 2024, with core systems fully converted by Q2 2025, is projected to enhance First Busey's growth profile by expanding its presence into attractive new markets and leveraging combined operations for increased earnings per share. * **Continued Growth in Wealth Management Services**: First Busey's wealth management division has demonstrated consistent strength, achieving record fee income in the fourth quarter of 2025, driven by a 4.7% increase in assets under care. The company's strategy emphasizes sustained organic growth within its diversified revenue streams, particularly within wealth management. * **Expansion of Payment Technology Solutions (FirsTech)**: The FirsTech segment, which provides payment technology solutions, is a key component of First Busey's diversified revenue streams and is anticipated to contribute to future growth. * **Net Interest Margin (NIM) Expansion**: Following the CrossFirst acquisition, First Busey has demonstrated a strong net interest margin, reaching its highest level in six years. Management has projected further NIM expansion in the second quarter of 2025, which will directly boost net interest income. * **Strategic Regional Expansion**: Beyond specific acquisitions, First Busey's overall investment case highlights its disciplined growth strategy and market presence in high-growth regions, positioning the company for continued organic and inorganic expansion.

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Share Repurchases

First Busey expanded its share repurchase program by 4,000,000 shares on December 4, 2025, allowing for the repurchase of up to 5,454,275 shares with no expiration date.
The company completed a multi-year share repurchase program by January 2026, which involved retiring 6,810,492 shares for a total of US$160,130,000.
During the second quarter of 2025, Busey purchased 1,012,000 shares of its common stock for $21.7 million, and as of June 30, 2025, 2,687,275 shares remained available for repurchase under the plan.

Share Issuance

On May 20, 2025, First Busey completed a public offering of 8,600,000 depositary shares, representing interests in its 8.25% Fixed Rate Series B Non-Cumulative Perpetual Preferred Stock, which generated approximately $207.5 million in net proceeds.
The net proceeds from this offering were expected to be utilized for the redemption of Busey's 5.25% Fixed-to-Floating Rate Subordinated Notes due 2030 and for general corporate purposes, including supporting the balance sheet growth of Busey Bank.

Outbound Investments

First Busey Corporation completed its acquisition by merger of CrossFirst Bankshares, Inc. on March 1, 2025, a transaction that significantly expanded its asset base to approximately $20 billion.
In April 2024, the company acquired Merchants & Manufacturers Bank, further broadening its presence in the greater Chicagoland area.
Effective May 31, 2021, First Busey completed the acquisition of Cummins-American Corp., the holding company for Glenview State Bank, which expanded its combined assets to approximately $12.3 billion.

Interactive Breakdown

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Better Bets vs. First Busey (BUSE)

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Latest Trefis Analyses

	Title	Date
0	DASHBOARDS
1	How Low Can First Busey Stock Really Go?	10/17/2025
2	Why First Busey Stock Moved: BUSE Stock Has Gained 14% Since 2022 Fiscal End, Primarily Due To Favorable Change In Price To Sales Multiple (P/S)	08/08/2025
3	First Busey (BUSE) Valuation Ratios Comparison	08/08/2025
4	BUSE Dip Buy Analysis	07/10/2025
5	Time To Buy First Busey Stock?	05/16/2025
6	First Busey (BUSE) Operating Cash Flow Comparison	02/17/2025
7	First Busey (BUSE) Net Income Comparison	02/15/2025
8	ARTICLES
9	Small Cap Stocks Trading At 52-Week High	02/04/2026

	Title
0	DASHBOARDS
1	How Low Can First Busey Stock Really Go?
2	Why First Busey Stock Moved: BUSE Stock Has Gained 14% Since 2022 Fiscal End, Primarily Due To Favorable Change In Price To Sales Multiple (P/S)
3	First Busey (BUSE) Valuation Ratios Comparison
4	BUSE Dip Buy Analysis
5	Time To Buy First Busey Stock?
6	First Busey (BUSE) Operating Cash Flow Comparison
7	First Busey (BUSE) Net Income Comparison
8	ARTICLES
9	Small Cap Stocks Trading At 52-Week High

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ALAB_2272026_Dip_Buyer_High_CFO_Margins_ExInd_DE	02272026	ALAB	Astera Labs	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	0.0%	0.0%	0.0%
PAYO_2272026_Dip_Buyer_High_CFO_Margins_ExInd_DE	02272026	PAYO	Payoneer Global	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	0.0%	0.0%	0.0%
FOUR_2272026_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	02272026	FOUR	Shift4 Payments	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	0.0%	0.0%	0.0%

Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
SRPT	Sarepta Therapeutics	2.4	35.0%	10.5%
BRZE	Braze	2.3	19.9%	-37.0%
CORT	Corcept Therapeutics	4.2	19.7%	16.3%
LWLG	Lightwave Logic	1.1	16.9%	165.1%
FLY	Firefly Aerospace	2.6	16.0%	23.1%
SMMT	Summit Therapeutics	13.3	15.4%	2.6%
LUNR	Intuitive Machines	2.4	14.7%	26.6%
ELVN	Enliven Therapeutics	2.2	14.1%	130.7%
JBLU	JetBlue Airways	1.8	13.4%	4.4%
CHWY	Chewy	11.0	13.3%	-19.6%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
MAZE	Maze Therapeutics	1.5	-35.2%	-23.4%
TASK	TaskUs	0.6	-34.1%	-42.1%
ADMA	ADMA Biologics	2.3	-15.0%	-47.2%
DAVE	Dave	2.4	-12.3%	-18.2%
FRMI	Fermi	3.9	-10.7%	-16.8%
NTGR	Netgear	0.6	-8.5%	-8.7%
DKNG	DraftKings	10.6	-8.1%	-37.8%
SEZL	Sezzle	2.3	-7.8%	8.4%
FOUR	Shift4 Payments	3.3	-6.9%	-22.4%
WGO	Winnebago Industries	0.9	-6.9%	-18.8%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
PL	Planet Labs PBC	10.9	42.6%	79.4%
SRPT	Sarepta Therapeutics	2.4	38.5%	10.5%
AXTI	AXT	3.0	38.1%	311.9%
ELVN	Enliven Therapeutics	2.2	30.4%	130.7%
GTN-A	Gray Media	1.3	30.2%	15.9%
LWLG	Lightwave Logic	1.1	28.8%	165.1%
AAOI	Applied Optoelectronics	7.2	23.5%	228.2%
DELL	Dell Technologies	123.5	23.3%	46.8%
INDI	Indie Semiconductor	0.6	22.5%	-10.5%
FN	Fabrinet	21.9	22.3%	34.4%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
PIPR	Piper Sandler Cos	1.2	-74.8%	-10.6%
TASK	TaskUs	0.6	-36.8%	-42.1%
ADMA	ADMA Biologics	2.3	-35.2%	-47.2%
MAZE	Maze Therapeutics	1.5	-34.5%	-23.4%
AEBI	Aebi Schmidt	0.7	-25.3%	-24.1%
CSIQ	Canadian Solar	1.0	-22.7%	-39.8%
CRCL	Circle Internet	23.9	-21.8%	31.0%
YEXT	Yext	0.5	-21.8%	-45.7%
SMCI	Super Micro Computer	14.4	-20.8%	-17.8%
TMC	TMC The Metals	1.9	-20.5%	-25.6%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
LWLG	Lightwave Logic	1.1	114.2%	165.1%
AAOI	Applied Optoelectronics	7.2	103.3%	228.2%
AXTI	AXT	3.0	92.0%	311.9%
SOC	Sable Offshore	1.8	89.2%	96.1%
VG	Venture Global	40.7	79.0%	145.4%
DAWN	Day One Biopharmaceuticals	2.2	77.8%	129.3%
BW	Babcock & Wilcox Enterprises	1.6	70.3%	146.5%
CRCL	Circle Internet	23.9	69.2%	31.0%
FSLY	Fastly	4.4	68.6%	192.6%
AMPX	Amprius Technologies	2.3	66.0%	127.2%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
MNKD	MannKind	0.7	-58.8%	-59.8%
EOSE	Eos Energy Enterprises	1.4	-55.6%	-55.5%
VITL	Vital Farms	0.6	-47.4%	-57.6%
OLMA	Olema Pharmaceuticals	1.2	-42.6%	-43.3%
ADMA	ADMA Biologics	2.3	-38.0%	-47.2%
FWRD	Forward Air	0.5	-37.2%	-33.6%
ERII	Energy Recovery	0.5	-36.9%	-24.8%
EL	Estee Lauder Companies	26.5	-36.6%	-30.0%
CWH	Camping World	0.4	-35.7%	-28.3%
TPB	Turning Point Brands	1.6	-35.4%	-18.4%

Peer Comparisons

Peers to compare with:

Financials

	BUSE	EFSC	CBSH	UMBF	ASB	ONB	Median
Name	First Bu.	Enterpri.	Commerce.	UMB Fina.	Associat.	Old Nati.
Mkt Price	24.90	54.32	48.54	112.72	25.24	21.77	36.89
Mkt Cap	2.2	2.0	6.7	8.6	4.2	8.4	5.4
Rev LTM	720	616	1,768	2,430	1,479	2,524	1,624
Op Inc LTM	-	-	-	-	-	-	-
FCF LTM	173	182	592	978	579	637	586
FCF 3Y Avg	170	228	508	543	499	569	503
CFO LTM	193	194	645	1,027	616	681	630
CFO 3Y Avg	181	236	571	575	546	607	558

Growth & Margins

	BUSE	EFSC	CBSH	UMBF	ASB	ONB	Median
Name	First Bu.	Enterpri.	Commerce.	UMB Fina.	Associat.	Old Nati.
Rev Chg LTM	55.7%	16.0%	6.3%	65.7%	43.7%	33.9%	38.8%
Rev Chg 3Y Avg	19.5%	8.0%	5.4%	24.6%	8.8%	14.3%	11.6%
Rev Chg Q	71.4%	17.1%	6.9%	68.7%	530.3%	41.0%	54.8%
QoQ Delta Rev Chg LTM	13.1%	3.9%	1.7%	12.5%	28.3%	8.6%	10.6%
Op Mgn LTM	-	-	-	-	-	-	-
Op Mgn 3Y Avg	-	-	-	-	-	-	-
QoQ Delta Op Mgn LTM	-	-	-	-	-	-	-
CFO/Rev LTM	26.8%	31.4%	36.5%	42.3%	41.6%	27.0%	33.9%
CFO/Rev 3Y Avg	34.9%	42.5%	34.0%	31.1%	46.1%	29.4%	34.4%
FCF/Rev LTM	24.0%	29.5%	33.5%	40.3%	39.2%	25.2%	31.5%
FCF/Rev 3Y Avg	32.8%	41.0%	30.2%	29.3%	42.0%	27.6%	31.5%

Valuation

	BUSE	EFSC	CBSH	UMBF	ASB	ONB	Median
Name	First Bu.	Enterpri.	Commerce.	UMB Fina.	Associat.	Old Nati.
Mkt Cap	2.2	2.0	6.7	8.6	4.2	8.4	5.4
P/S	3.1	3.3	3.8	3.5	2.8	3.3	3.3
P/EBIT	-	-	-	-	-	-	-
P/E	16.3	10.0	11.8	12.2	8.8	12.6	12.0
P/CFO	11.4	10.4	10.3	8.3	6.8	12.4	10.4
Total Yield	6.1%	12.3%	10.7%	9.8%	15.1%	7.9%	10.3%
Dividend Yield	0.0%	2.2%	2.3%	1.6%	3.7%	0.0%	1.9%
FCF Yield 3Y Avg	11.0%	12.1%	6.5%	8.6%	13.2%	8.6%	9.8%
D/E	0.1	0.1	0.0	0.0	0.9	0.8	0.1
Net D/E	-1.0	-0.4	-1.9	-1.9	-0.8	0.6	-0.9

Returns

	BUSE	EFSC	CBSH	UMBF	ASB	ONB	Median
Name	First Bu.	Enterpri.	Commerce.	UMB Fina.	Associat.	Old Nati.
1M Rtn	-1.9%	-5.4%	-6.6%	-5.8%	-7.2%	-9.2%	-6.2%
3M Rtn	3.2%	-1.5%	-8.0%	-4.8%	-4.1%	-5.0%	-4.5%
6M Rtn	5.4%	-6.7%	-12.7%	-4.3%	-0.4%	-0.0%	-2.4%
12M Rtn	17.3%	-0.4%	-17.3%	8.9%	13.4%	4.0%	6.4%
3Y Rtn	37.1%	27.2%	-1.9%	100.2%	59.5%	63.6%	48.3%
1M Excs Rtn	2.6%	-0.2%	-1.7%	-0.6%	-2.5%	-3.8%	-1.1%
3M Excs Rtn	6.7%	2.3%	-3.3%	-1.0%	0.1%	-1.2%	-0.4%
6M Excs Rtn	6.1%	-5.9%	-10.7%	-3.8%	1.0%	0.6%	-1.6%
12M Excs Rtn	2.4%	-15.2%	-30.7%	-5.0%	-0.8%	-9.9%	-7.5%
3Y Excs Rtn	-29.3%	-41.6%	-69.5%	30.5%	-8.8%	-4.8%	-19.0%

FDIC Bank Data

Bank Capital

FDIC Data As Of	3312020
CAPITAL
Equity Total Capital ($ Bil)	1
Tier 1 (Core) Capital ($ Bil)	1
ASSETS
Total Assets ($ Bil)	10
Adjusted Average Assets ($ Bil)	9
Risk Weighted Assets Adjusted ($ Bil)	8
LEVERAGE RATIOS
Tier 1 Capital / Total Assets Ratio	9.8%
Tier 1 Capital / Adjusted Avg Assets Ratio	10.2%
Tier 1 Capital / Risk Wtd Assets Ratio	12.6%

Bank Deposits

FDIC Data As Of	3312020
DEPOSITS
Total Deposits ($ Bil)	8
Uninsured Deposits ($ Bil)	1
Uninsured Deposits Ratio %	17.4%

Bank Assets

FDIC Data As Of	3312020
ASSETS
Cash Balance ($ Bil)	0
Securities ($ Bil)	2
Net Loans ($ Bil)	7
Trading Assets ($ Bil)	0
Bank Premises Assets ($ Bil)	0
Other Real Estate Owned ($ Bil)	0
Goodwill & Intangibles ($ Bil)	0
Other Assets ($ Bil)	0
Total Assets (Sum) ($ Bil)	10
Total Assets (Reported) ($ Bil)	10
Risk Weighted Assets ($ Bil)	8
SECURITIES DETAILS
US Govt Securities ($ Bil)	1
Equity Securities Not Held for Trading ($ Bil)	0
Total Debt Securities ($ Bil)	2
Mortgage-Backed Securities ($ Bil)	1
SECURITIES VALUATION
Securities Held to Maturity (Book Value) ($ Bil)	0
Securities Available for Sale (Fair Market) ($ Bil)	2

Bank Loans

FDIC Data As Of	3312020
LOAN DETAILS
All Real Estate Loans ($ Bil)	5
Farm Loans ($ Bil)	0
Commercial and Industrial Loans ($ Bil)	1
Loans to Individuals (CC, revolving credit, auto, other) (non-mortgage) ($ Bil)	0
Commercial Real Estate Loans not Secured by Real Estate ($ Bil)	0
Commercial Real Estate Owner-Occupied ($ Bil)	1
Commercial Real Estate Other Non-Farm Non-Residential ($ Bil)	1
Total Net Loans ($ Bil)	7

FDA Approved Drugs Data

Expand for Morenull

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2025	2024	2023	2022	2021	2020
Period End	12/31/2025	12/31/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020
Filing Date	2/26/2026	2/26/2026	2/27/2025	2/23/2024	2/23/2023	2/24/2022	2/25/2021
Key Financials
Total Revenue	720	720	462	442	450	404	401
Net Income	135	135	114	123	128	123	100
EPS	1.30	1.49	2.01	2.21	2.32	2.23	1.84
Growth Rates
Total Revenue Growth	55.7%	55.7%	4.6%	-1.9%	11.6%	0.6%	-0.6%
Net Income Growth	19.0%	19.0%	-7.2%	-4.5%	3.9%	23.0%	-2.5%
Margins
Net Income Margin	18.8%	18.8%	24.6%	27.7%	28.5%	30.6%	25.0%
Cash & Debt
Total Cash	2,477	2,477	2,508	2,807	2,689	4,817	2,950
Total Debt	323	323	314	336	688	369	311
Net Debt / (Cash)	-2,153	-2,153	-2,194	-2,471	-2,001	-4,449	-2,639
Cash Flows
Net Cash from Operations	193	193	178	173	166	162	163
Free Cash from Operations	173	173	172	164	161	157	159
Returns to Shareholders
Dividends	91	91	54	53	51	51	48
Share Repurchases	70	70	-0	4	10	33	12

$ Mil \| FY: 12/31	2025Q4	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1
Period End	12/31/2025	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023
Filing Date	2/26/2026	11/6/2025	8/5/2025	5/9/2025	2/27/2025	11/5/2024	8/6/2024	5/7/2024	2/23/2024	11/2/2023	8/3/2023	5/4/2023
Key Financials Quarterly
Total Revenue	200	196	198	125	117	118	116	111	109	109	107	118
Net Income	61	57	47	-30	28	32	27	26	26	31	29	37
EPS	0.63	0.58	0.53	-0.44	0.49	0.56	0.48	0.47	0.46	0.55	0.53	0.66
Key Financials TTM
Total Revenue TTM	720	636	558	476	462	454	444	435	442	453	462	462
Net Income TTM	135	103	78	57	114	111	110	112	123	131	136	137
Growth Rates Quarterly
Total Revenue Growth	71.4%	65.7%	70.4%	12.8%	7.5%	8.9%	9.0%	-5.9%	-9.6%	-7.2%	-0.2%	11.2%
Net Income Growth	116.2%	78.4%	73.3%	-214.4%	9.1%	4.4%	-6.8%	-28.7%	-25.1%	-14.0%	-1.5%	29.4%
Margins Quarterly
Net Income Margin	30.3%	29.1%	23.9%	-24.0%	24.1%	27.0%	23.5%	23.7%	23.7%	28.2%	27.5%	31.3%
Cash & Debt
Total Cash	2,477	430	796	1,286	2,508	2,372	2,115	2,489	2,807	2,521	2,517	2,659
Total Debt	323	305	306	436	314	314	313	306	336	339	542	949
Net Debt / (Cash)	-2,153	-125	-490	-850	-2,194	-2,058	-1,802	-2,183	-2,471	-2,181	-1,974	-1,710
Cash Flows Quarterly
FCF from Operations	72	62	50	8	52	60	28	37	46	42	40	45
Cash Flows TTM
FCF from Operations TTM	193	173	170	149	178	172	154	165	173	175	177	169
Returns to Shareholders Quarterly
Dividends	27	27	23	14	14	14	14	13	13	13	13	13
Share Repurchases	30	14	22	5	-0	-0	-0	-0	2	1	0	1
Return on Invested Capital (ROIC) Quarterly
ROIC	-	11.8%	12.1%	-11.8%	-	-	-	-	-	-	-	-
Return on Invested Capital (ROIC) TTM
ROIC TTM	-	5.3%	5.0%	5.7%	-	-	-	-	-	-	-	-

Segment Financials

Assets by Segment

$ Mil	2025	2024	2023	2022	2021
Banking	11,857	12,125	12,200	12,747	10,463
Wealth Management	126	103	84	66	47
FirsTech	58	52	49	47
Other	6	3	4	-0	-12
Remittance Processing					47
Total	12,047	12,283	12,337	12,860	10,544

Price Behavior

Price Behavior

Market Price	$24.90
Market Cap ($ Bil)	2.2
First Trading Date	10/06/1998
Distance from 52W High	-9.2%
	50 Days	200 Days
DMA Price	$25.35	$23.71
DMA Trend	up	up
Distance from DMA	-1.8%	5.0%
	3M	1YR
Volatility	25.7%	27.3%
Downside Capture	70.64	76.75
Upside Capture	113.37	82.06
Correlation (SPY)	37.9%	54.0%

BUSE Betas & Captures as of 2/28/2026

	1M	2M	3M	6M	1Y	3Y
Beta	0.93	0.90	0.73	0.81	0.80	0.94
Up Beta	1.41	2.23	1.96	1.43	0.69	0.91
Down Beta	-0.12	-0.25	-0.15	0.68	0.92	0.89
Up Capture	151%	134%	107%	67%	72%	79%
Bmk +ve Days	9	20	31	70	142	431
Stock +ve Days	12	22	33	58	120	354
Down Capture	68%	81%	55%	73%	90%	102%
Bmk -ve Days	12	21	30	54	109	320
Stock -ve Days	9	19	28	65	128	385

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with BUSE
BUSE	16.2%	27.3%	0.53	-
Sector ETF (XLF)	-0.6%	19.1%	-0.16	65.7%
Equity (SPY)	15.5%	18.8%	0.63	53.9%
Gold (GLD)	51.3%	27.2%	1.51	-3.5%
Commodities (DBC)	17.8%	17.5%	0.84	10.4%
Real Estate (VNQ)	0.7%	16.4%	-0.13	48.2%
Bitcoin (BTCUSD)	-19.2%	43.9%	-0.36	24.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with BUSE
BUSE	3.2%	28.6%	0.13	-
Sector ETF (XLF)	9.2%	18.7%	0.38	66.4%
Equity (SPY)	12.4%	17.0%	0.57	48.5%
Gold (GLD)	20.9%	17.5%	0.97	-1.3%
Commodities (DBC)	12.0%	18.9%	0.52	10.2%
Real Estate (VNQ)	3.1%	18.8%	0.07	46.7%
Bitcoin (BTCUSD)	4.1%	56.7%	0.29	18.6%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 10-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with BUSE
BUSE	6.0%	31.5%	0.26	-
Sector ETF (XLF)	12.6%	22.1%	0.52	74.6%
Equity (SPY)	14.3%	17.9%	0.68	56.3%
Gold (GLD)	13.3%	15.8%	0.70	-5.3%
Commodities (DBC)	8.3%	17.6%	0.39	20.2%
Real Estate (VNQ)	4.9%	20.7%	0.20	52.5%
Bitcoin (BTCUSD)	67.1%	66.8%	1.06	15.3%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date	3132026
Short Interest: Shares Quantity	2.6 Mil
Short Interest: % Change Since 2282026	22.0%
Average Daily Volume	0.6 Mil
Days-to-Cover Short Interest	4.2 days
Basic Shares Quantity	88.5 Mil
Short % of Basic Shares	2.9%

Returns Analyses

	Title
0	How Low Can First Busey Stock Really Go?

Earnings Returns History

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
1/27/2026	-2.6%	2.8%	3.6%
10/28/2025	-3.1%	-2.5%	2.2%
7/22/2025	-2.0%	-5.7%	-3.8%
4/22/2025	3.3%	2.0%	6.2%
1/28/2025	1.9%	3.8%	2.3%
10/22/2024	-0.6%	-0.2%	6.6%
7/23/2024	-3.2%	-1.6%	-8.5%
4/23/2024	-0.6%	-4.0%	0.2%
...
SUMMARY STATS
# Positive	9	13	18
# Negative	15	11	6
Median Positive	2.0%	2.0%	4.5%
Median Negative	-1.4%	-2.5%	-4.3%
Max Positive	8.2%	9.4%	19.9%
Max Negative	-5.9%	-5.7%	-8.5%

	Forward Returns
1/27/2026	-2.6%	2.8%	3.6%
10/28/2025	-3.1%	-2.5%	2.2%
7/22/2025	-2.0%	-5.7%	-3.8%
4/22/2025	3.3%	2.0%	6.2%
1/28/2025	1.9%	3.8%	2.3%
10/22/2024	-0.6%	-0.2%	6.6%
7/23/2024	-3.2%	-1.6%	-8.5%
4/23/2024	-0.6%	-4.0%	0.2%
1/23/2024	2.0%	4.3%	-3.0%
10/24/2023	-1.4%	6.3%	13.2%
7/25/2023	0.6%	-1.3%	-7.2%
4/25/2023	-0.8%	-3.4%	4.6%
1/24/2023	-5.9%	-0.8%	2.0%
10/25/2022	3.2%	9.4%	8.7%
7/26/2022	-1.3%	-2.0%	-4.8%
4/26/2022	-0.5%	0.9%	0.0%
1/25/2022	0.1%	1.8%	-3.0%
10/26/2021	-4.2%	0.8%	8.5%
7/27/2021	1.8%	1.1%	3.3%
4/27/2021	-0.7%	0.9%	4.6%
1/26/2021	-5.9%	-4.4%	4.4%
10/27/2020	-1.4%	6.1%	19.9%
7/28/2020	6.1%	1.9%	4.8%
4/28/2020	8.2%	-5.0%	4.1%
SUMMARY STATS
# Positive	9	13	18
# Negative	15	11	6
Median Positive	2.0%	2.0%	4.5%
Median Negative	-1.4%	-2.5%	-4.3%
Max Positive	8.2%	9.4%	19.9%
Max Negative	-5.9%	-5.7%	-8.5%

SEC Filings

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Report Date	Filing Date	Filing
12/31/2025	02/26/2026	10-K
09/30/2025	11/06/2025	10-Q
06/30/2025	08/05/2025	10-Q
03/31/2025	05/09/2025	10-Q
12/31/2024	02/27/2025	10-K
09/30/2024	11/05/2024	10-Q
06/30/2024	08/06/2024	10-Q
03/31/2024	05/07/2024	10-Q
12/31/2023	02/23/2024	10-K
09/30/2023	11/02/2023	10-Q
06/30/2023	08/03/2023	10-Q
03/31/2023	05/04/2023	10-Q
12/31/2022	02/23/2023	10-K
09/30/2022	11/03/2022	10-Q
06/30/2022	08/04/2022	10-Q
03/31/2022	05/05/2022	10-Q

Recent Forward Guidance [BETA]

Latest: Q4 2025 Earnings Reported 1/27/2026 | Prior: Q3 2025 Earnings Reported 10/28/2025

Forward Guidance				Guidance Change
Metric	Low	Mid	High	% Chg	% Delta	Change	Prior
2026 Securities Portfolio Cash Flows		347.10 Mil		13.5%		Raised	Guidance: 305.90 Mil for 2026
2026 Pre-tax expense synergies		25.00 Mil		0		Affirmed	Guidance: 25.00 Mil for 2026
2026 Net Interest Income sensitivity		-0.02

Insider Activity

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#	Owner	Title	Holding	Action	Filing Date	Price	Shares	Transacted Value	Value of Held Shares	Form
1	Cassens, Michael David		Direct	Sell	12172025	25.37	750	19,028	3,571,614	Form
2	Maddox, Mike	President	Spouse	Buy	12052025	25.52	1,000	25,519	1,027,905	Form
3	Cassens, Michael David		Direct	Sell	11182025	22.92	750	17,190	3,243,891	Form
4	Phillips, Scott A	CAO	Direct	Buy	11042025	25.64	1,350	34,610	60,246	Form
5	Bradshaw, Stanley J		Direct	Buy	11042025	22.31	1,500	33,470	11,165,190	Form

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#	Owner	Title	Holding	Action	Filing Date	Price	Shares	Transacted Value	Value of Held Shares	Form
1	Cassens, Michael David		Direct	Sell	12172025	25.37	750	19,028	3,571,614	Form
2	Maddox, Mike	President	Spouse	Buy	12052025	25.52	1,000	25,519	1,027,905	Form
3	Cassens, Michael David		Direct	Sell	11182025	22.92	750	17,190	3,243,891	Form
4	Phillips, Scott A	CAO	Direct	Buy	11042025	25.64	1,350	34,610	60,246	Form
5	Bradshaw, Stanley J		Direct	Buy	11042025	22.31	1,500	33,470	11,165,190	Form
6	Jensen, Karen M		Direct	Buy	9162025	24.60	3,000	73,800	2,135,231	Form
7	Maddox, Mike	President	Spouse	Buy	9052025	25.52	10,000	255,162	810,905	Form
8	Maddox, Mike	President	Spouse	Buy	9052025	25.44	7,500	190,800	999,283	Form
9	Maddox, Mike	President	Stepson	Buy	9052025	25.44	920	23,405	11,702	Form
10	Maddox, Mike	President	Spouse	Buy	9042025	25.26	21,780	550,211	550,211	Form
11	Phillips, Scott A	CAO and Interim CFO	Direct	Buy	8212025	25.25	1,000	25,250	25,250	Form
12	Bradshaw, Stanley J		Direct	Buy	8012025	22.35	3,000	67,050	11,142,995	Form
13	Jensen, Karen M		Direct	Buy	7292025	23.25	2,500	58,125	1,942,956	Form
14	Bradshaw, Stanley J		Direct	Buy	7292025	23.25	2,500	58,125	11,515,004	Form
15	Jensen, Karen M		Direct	Buy	6172025	22.50	5,000	112,500	1,824,030	Form
16	Bradshaw, Stanley J		Direct	Buy	6162025	22.40	1,000	22,400	11,038,026	Form
17	Caple, Steven W		Direct	Buy	6132025	22.75	85	1,934	114,751	Form
18	Caple, Steven W		Direct	Buy	6132025	22.39	3,300	73,887	186,821	Form
19	Caple, Steven W		Direct	Buy	6042025	21.75	450	9,788	107,858	Form
20	Bradshaw, Stanley J		Direct	Buy	6042025	21.75	1,000	21,750	10,695,976	Form
21	Jensen, Karen M		Direct	Buy	6022025	22.00	4,000	88,000	1,673,496	Form
22	Bradshaw, Stanley J		Direct	Buy	5302025	22.00	1,000	22,000	10,796,918	Form
23	Caple, Steven W		Direct	Buy	5282025	21.60	1,175	25,380	97,394	Form
24	Jensen, Karen M		Direct	Buy	5282025	21.70	5,500	119,325	1,563,548	Form
25	Bradshaw, Stanley J		Direct	Buy	5282025	21.63	1,000	21,630	10,593,703	Form
26	Jensen, Karen M		Direct	Buy	3142025	21.86	4,500	98,355	1,257,152	Form
27	Jensen, Karen M		Direct	Buy	3142025	21.95	5,500	120,710	1,383,073	Form
28	Bradshaw, Stanley J		Direct	Buy	3142025	21.70	1,700	36,890	10,462,503	Form
29	Bradshaw, Stanley J		Direct	Buy	3142025	21.70	3,000	65,100	10,527,603	Form
30	Bradshaw, Stanley J		Direct	Buy	3122025	21.84	7,600	166,011	10,413,783	Form
31	Bradshaw, Stanley J		Direct	Buy	3122025	21.54	3,700	79,703	10,349,415	Form
32	Bradshaw, Stanley J		Direct	Buy	3062025	23.00	662	15,226	10,706,730	Form
33	Bradshaw, Stanley J		Direct	Buy	3062025	22.52	3,633	81,830	10,567,071	Form
34	Cassens, Michael David		Direct	Sell	1202026	24.24	750	18,180	3,394,351	Form
35	Cassens, Michael David		Direct	Sell	2192026	26.61	750	19,958	3,712,707	Form
36	Bradshaw, Stanley J		Direct	Buy	3102026	24.50	1,000	24,500	12,291,184	Form
37	Cassens, Michael David		Direct	Sell	3172026	24.92	750	18,690	3,458,223	Form
38	Bradshaw, Stanley J		Direct	Buy	3232026	24.00	400	9,600	12,049,944	Form

BUSE Trade Sentinel

Stock Conviction

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CONVICTION RATIONALE

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STOCK ARCHETYPE

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INVESTMENT THESIS

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Mechanism: null

Supporting Evidence:

PRIMARY RISK

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Mechanism: null

Supporting Evidence:

Key KPI Watchlist

KPI	Threshold	Rationale

Core Investment Debate

BULL VIEW

CORE TENSION

PREVAILING SENTIMENT

BEAR VIEW

Next 6 months: Risks and Catalysts

Timeline	Event & Metric To Watch

Key Events in Last 6 Months

Date	Event	Stock Impact

Risk Management

Position Sizing

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Diversification Alternatives

How Is The Market Pricing BUSE?

What will confirm the thesis

What will damage the thesis

Noise: Real but irrelevant to thesis

Repricing Catalyst

What BUSE Makes & Who Pays

TTM figures based on

BUSE Evolution: Price Return by Era

① Structure

② Volume / Momentum

③ Catalyst

Combined Score

0 / 12

1 Price Structure & Trend · ▾

2 Momentum ▾

3 Relative Strength vs. SPY ▾

4 Institutional Footprint & Volume ▾

5 Volatility ▾

6 Key Price Levels Range · Vol ▾

7 Earnings Reaction History ▾

8 How the Verdict Is Derived Three Pillars ▾

Pillar	Score
① Structure	0
② Vol / Mom	0
③ Catalyst	0

ℹ Bull Pillars: 0 · Bear Pillars: 0 · Combined Score: 0 →

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4	CNBC	Etrade
5	MarketWatch	Unusual Whales
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7	FinViz

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First Busey (BUSE)

Market Price (3/26/2026): $24.9 | Market Cap: $2.2 BilSector: Financials | Industry: Regional Banks

First Busey (BUSE)

Market Price (3/26/2026): $24.9Market Cap: $2.2 BilSector: FinancialsIndustry: Regional Banks

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Market Price (3/26/2026): $24.9 | Market Cap: $2.2 Bil
Sector: Financials | Industry: Regional Banks

Market Price (3/26/2026): $24.9
Market Cap: $2.2 Bil
Sector: Financials
Industry: Regional Banks