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1. Company Snapshot

1.a. Company Description

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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1.b. Last Insights on BUSE

The recent 3-month performance of First Busey Corporation was negatively impacted by the lack of significant news or events that could have driven its stock price. Despite the company's strong Q4 2024 earnings and revenue beat, the absence of new developments or catalysts has led to a stagnant stock performance. The recent acquisition of CrossFirst Bankshares, Inc. and CrossFirst Bank, completed on March 3, 2025, may have been a positive event in the long term, but its short-term impact on the stock price is unclear. The company's dividend hikes and strong financial performance in Q4 2024 may have also been overshadowed by the lack of new information.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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Bayview Asset Management LLC Boosts Holdings in First Busey Corporation $BUSE

Dec -01

Source: defenseworld.net

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Y Intercept Hong Kong Ltd Has $1.41 Million Stake in First Busey Corporation $BUSE

Nov -03

Source: defenseworld.net

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First Busey (BUSE) Reports Q3 Earnings: What Key Metrics Have to Say

Oct -29

Source: zacks.com

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First Busey (BUSE) Q3 Earnings and Revenues Beat Estimates

Oct -28

Source: zacks.com

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First Busey Corporation Announces 2025 Third Quarter Earnings

Oct -28

Source: globenewswire.com

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First Busey (BUSE) to Release Quarterly Earnings on Tuesday

Oct -26

Source: defenseworld.net

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These Analysts Revise Their Forecasts On First Busey Following Q2 Results

Jul -24

Source: benzinga.com

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First Busey (BUSE) Q2 Earnings and Revenues Top Estimates

Jul -22

Source: zacks.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (7.11%)

6. Segments

Banking

Expected Growth: 7%

First Busey Corporation's 7% growth in banking is driven by strategic acquisitions, expanding commercial lending, and a strong deposit growth. Additionally, the company's focus on digital transformation, cost savings initiatives, and a favorable interest rate environment have contributed to its growth momentum.

Wealth Management

Expected Growth: 9%

First Busey Corporation's 9% growth in Wealth Management is driven by increasing demand for investment and retirement planning services, strategic acquisitions, and expansion into new markets. Additionally, the company's focus on digital transformation, enhanced customer experience, and diversified revenue streams have contributed to its growth momentum.

FirsTech

Expected Growth: 6%

FirsTech's 6% growth is driven by increasing demand for digital payment solutions, strategic partnerships, and expansion into new markets. Additionally, the company's focus on innovation, customer-centric approach, and operational efficiency have contributed to its growth. Furthermore, the growing need for secure and convenient payment processing, coupled with the increasing adoption of digital payment methods, has also fueled FirsTech's growth.

Other

Expected Growth: 5%

First Busey Corporation's 5% growth in 'Other' segment is driven by increasing demand for wealth management services, expansion of insurance product offerings, and growth in mortgage banking revenue. Additionally, the company's strategic acquisitions and partnerships have contributed to the segment's growth, along with a favorable interest rate environment and a strong economy.

7. Detailed Products

Commercial Banking

First Busey Corporation offers a range of commercial banking services, including cash management, treasury management, and commercial lending to businesses of all sizes.

Retail Banking

First Busey Corporation provides personal banking services, including checking and savings accounts, credit cards, and personal loans, to individuals and families.

Wealth Management

First Busey Corporation offers wealth management services, including investment management, trust services, and financial planning, to individuals, families, and institutions.

Mortgage Banking

First Busey Corporation provides mortgage lending services, including residential and commercial mortgage loans, to individuals and businesses.

Treasury Management

First Busey Corporation offers treasury management services, including cash management, wire transfers, and account reconciliation, to businesses and organizations.

8. First Busey Corporation's Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for First Busey Corporation is moderate, as customers have some alternatives for banking and financial services, but the company's strong brand and customer loyalty mitigate this threat.

Bargaining Power Of Customers

The bargaining power of customers is low for First Busey Corporation, as the company has a diverse customer base and no single customer has significant bargaining power.

Bargaining Power Of Suppliers

The bargaining power of suppliers is low for First Busey Corporation, as the company has a diverse supplier base and is not heavily dependent on any single supplier.

Threat Of New Entrants

The threat of new entrants is low for First Busey Corporation, as the banking and financial services industry has significant barriers to entry, including regulatory hurdles and capital requirements.

Intensity Of Rivalry

The intensity of rivalry is high for First Busey Corporation, as the banking and financial services industry is highly competitive, with many established players competing for market share.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 28.79%
Debt Cost 7.37%
Equity Weight 71.21%
Equity Cost 8.15%
WACC 7.92%
Leverage 40.43%

11. Quality Control: First Busey Corporation passed 3 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
BayCom

A-Score: 6.7/10

Value: 6.7

Growth: 7.0

Quality: 6.9

Yield: 4.0

Momentum: 7.5

Volatility: 8.0

1-Year Total Return ->

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City Holding

A-Score: 6.6/10

Value: 4.5

Growth: 6.3

Quality: 7.6

Yield: 6.0

Momentum: 6.0

Volatility: 9.3

1-Year Total Return ->

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Banner

A-Score: 6.4/10

Value: 6.6

Growth: 5.1

Quality: 7.8

Yield: 6.0

Momentum: 5.0

Volatility: 7.7

1-Year Total Return ->

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Northwest Bancshares

A-Score: 6.3/10

Value: 6.1

Growth: 3.7

Quality: 6.2

Yield: 10.0

Momentum: 3.5

Volatility: 8.3

1-Year Total Return ->

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Stock-Card
First Busey

A-Score: 6.0/10

Value: 5.2

Growth: 5.2

Quality: 5.6

Yield: 8.0

Momentum: 4.0

Volatility: 8.0

1-Year Total Return ->

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HomeTrust Bancshares

A-Score: 5.9/10

Value: 6.8

Growth: 8.0

Quality: 7.3

Yield: 2.0

Momentum: 5.0

Volatility: 6.0

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

24.02$

Current Price

24.02$

Potential

-0.00%

Expected Cash-Flows