The beat on adjusted EPS and record wealth management revenue are positive, but the sequential loan decline and uptick in NPAs warrant monitoring. Traders should watch for commentary on Q3 loan growth trajectory and credit migration, particularly for the commercial credit that drove the NPA increase. The strong capital position and active buyback provide a floor, but payoff headwinds may cap near-term upside.
Price Chart
Executive Summary
First Busey Corporation reported Q2 2026 GAAP diluted EPS of $0.69, up from $0.52 YoY, on net income of $63.2 million. Adjusted diluted EPS of $0.69 beat the $0.65 consensus estimate by 6.2%, driven by strong wealth management fees, expense discipline, and a 134bp YoY improvement in the efficiency ratio to 54.0%. However, total loans declined $265M QoQ due to payoff headwinds, and non-performing assets increased to 0.39% of total assets from 0.28% in Q1, driven by one commercial credit, partially offsetting the otherwise solid operational results.
Key Financial Metrics
Key Facts
- GAAP diluted EPS of $0.69 vs $0.52 in Q2 2025; adjusted diluted EPS of $0.69 vs $0.63 YoY
- Net income of $63.2 million, up from $47.4 million in Q2 2025
- Adjusted diluted EPS of $0.69 beat the $0.65 consensus estimate
- Efficiency ratio improved to 54.0% from 55.3% YoY
- Wealth management fees hit a record $20.0 million, up 19.1% YoY
- Total deposits grew $392.7M QoQ to $15.1 billion, an 11% annualized growth rate
- Total loans declined $264.7M QoQ to $13.2 billion due to payoff headwinds
- Non-performing assets increased to $70.3M (0.39% of assets) from $49.9M (0.28%) in Q1 2026
- CET1 ratio improved to 12.53% from 12.31% in Q1; $63.1M in share repurchases during Q2
- Tangible book value per share grew 6.4% YoY to $20.40
Financial Impact
Adjusted diluted EPS of $0.69 exceeded consensus of $0.65 by 6.2%. Net income of $63.2M was up 33% QoQ and 33% YoY. Wealth management revenue hit a record $20.0M.
Risk Factors
- Loan portfolio contraction continued for a second consecutive quarter, with management expecting payoff headwinds to persist into Q3 2026
- Non-performing assets increased 41% QoQ to $70.3M, driven by one commercial credit; classified assets also rose
- Net interest margin (GAAP) compressed 5bp QoQ to 3.72% as purchase accounting accretion declined
- Adjusted noninterest income declined 3.1% QoQ, driven by lower private equity and SBA gain-on-sale income
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000314489-26-000049 |
| Document: buse_20260728x26q2xex992.htm | 0000314489-26-000049 |
| Document: buse-20260728.htm | 0000314489-26-000049 |
| Document: 0000314489-26-000049-index-headers.html | 0000314489-26-000049 |
| Document: 0000314489-26-000049-index.html | 0000314489-26-000049 |
| Document: 0000314489-26-000049.txt | 0000314489-26-000049 |
| 8-K Data (Synthetic) | 0000314489-26-000049 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 27, 2026 today | 8-K | $30.05 | awaiting T+60 | — | $30.18 (−0.43%) |
Oct 27, 2026 today | Press Release | $30.05 | awaiting T+60 | — | $30.18 (−0.43%) |
Oct 13, 2026 14d ago | 8-K | $28.95 | awaiting T+60 | — | $30.18 (+4.25%) |
Sep 16, 2026 5w ago | S-3ASR | $30.15 | awaiting T+60 | — | $30.18 (+0.10%) |
Jul 31, 2026 12w ago | 8-K | $30.86 $30.38 | ▼ −1.56% | ▼ −4.01% | $30.18 (−2.20%) |
Jul 28, 2026 13w ago | 8-K | $30.72 $30.63 | ▼ −0.28% | ▼ −5.01% | $30.18 (−1.74%) |
Jul 14, 2026 15w ago | 8-K | $29.37 $29.22 | ▼ −0.51% | ▼ −3.04% | $30.18 (+2.76%) |
Jul 14, 2026 15w ago | Press Release | $29.37 $29.22 | ▼ −0.51% | ▼ −3.04% | $30.18 (+2.76%) |
Jun 11, 2026 19w ago | Institutional Cluster | $28.47 $30.66 | ▲ +7.69% | ▲ +3.30% | $30.18 (+6.01%) |
Apr 28, 2026 26w ago | Press Release | $25.77 $29.85 | ▼ −15.83% | ▼ −11.72% | $30.18 (−17.11%) |
US Market Status
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