First Busey Company profile
About First Busey Corporation
First Busey Corporation is a financial holding company. The Company conducts a range of financial services through its bank subsidiary, Busey Bank. The Company operates through three segments: Banking, Remittance Processing and Wealth Management. The Banking operating segment provides a range of banking services to individual and corporate customers through its banking center network in Illinois; the St. Louis, Missouri metropolitan area; southwest Florida; and through its banking center in Indianapolis, Indiana. The Remittance Processing operating segment provides solutions for online bill payments, lockbox, and walk-in payments. The Wealth Management operating segment provides a range of asset management, investment, and fiduciary services to individuals, businesses, and foundations, tax preparation, philanthropic advisory services, and farm and brokerage services. Its subsidiary Busey Bank operates banking centers in Illinois, Missouri, Florida, and Indiana.
Financial summary
BRIEF: For the fiscal year ended 31 December 2021, First Busey Corporation interest income decreased 9% to $298.8M. Net interest income after loan loss provision increased 17% to $285.8M. Net income increased 23% to $123.4M. Net interest income after loan loss provision reflects increase in interest earning assets and decrease in interest bearing liabilities. Net income benefited from Busey Bank segment income increase of 16% to $117.8M.
Equity composition
Common Stock $.001 Par, 12/10, 200M auth., 80,790,132 issd., less 1,650,605 shs in Treas @ $32.2M. Insiders & stakeholders own 14.22%. 3/88, 200,000 shs. @ $16.50 by Company. 8/98, 2-for-1 stocksplit; 5/96, 3-for-2 stock split. 08/07, Co. acq. Main Street Trust Inc. @ 1.55 shares (15,260,664 shares issued).09/15, 1-for-3Reverse stock split
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