First Busey Q1 Net Income $50M, Adjusted EPS Up 17.5% to $0.67
First Busey reported Q1 net income of $50 million (0.52 EPS) versus a $30 million loss last year and adjusted EPS of $0.67. Total revenue reached $267.8 million with net interest revenue of $196.2 million, net interest margin widened to 3.77% and ROATCE rose 287 basis points to 14.12%.
1. Q1 Earnings and Profitability
First Busey delivered net income of $50.0 million in Q1 2026, or $0.52 per diluted share, reversing a net loss of $29.99 million in Q1 2025. Adjusted earnings excluding one-time items reached $58.6 million, or $0.67 per share, marking a 17.5% increase year-over-year.
2. Revenue and Margin Details
Total revenue was $267.8 million, with net interest revenue of $196.2 million falling $1.0 million short of forecasts. Net interest margin expanded by 6 basis points quarter-over-quarter to 3.77%, and return on average tangible common equity improved by 287 basis points to 14.12%.
3. Capital Return and Asset Quality
The company repurchased $65.6 million of common shares during the quarter, supporting an 8.2% year-over-year rise in tangible book value per share to $20.14. Non-performing assets declined 14.0% quarter-over-quarter and the common equity Tier 1 ratio remained strong at 12.31%.
4. CEO Commentary and Outlook
Management highlighted momentum from talent additions and new business pipelines, noting synergies from the CrossFirst acquisition and controlled expenses. With robust capital and ample liquidity, the company expects to drive further value in a volatile macro environment.