First Busey Q3 profit falls on higher loan charge-off
BUSE•First Busey reported third-quarter net income of $55.85 million and adjusted EPS of $0.63, with results affected by a commercial loan charge-off that raised provision expense. The company repurchased $59.6 million in stock during the quarter.
1. Quarterly results
First Busey said third-quarter results were affected by a partial charge-off and non-accrual on a single commercial relationship, raising provision expense. Net income was $55.85 million, while the report listed Q3 EPS of $0.61 and adjusted EPS of $0.63.
2. Revenue and outlook
Stable operating revenue was supported by growth in net interest income, and deposit balances increased at an annualized rate of 11% for the second consecutive quarter. The company sees macroeconomic uncertainty persisting into the final quarter of 2026 and expects net interest income to increase 1.5% if rates rise 100 basis points over 12 months.
3. Share repurchases
First Busey repurchased $59.6 million in stock during the third quarter.
