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June 2022
May 2022
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April 2022
April 2022
January 2022
January 2022
October 2021
October 2021
· Net income available to common stockholders of $11.5 million, up 8.8%
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· Average portfolio loans of $3.810 billion, up 46.8%
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· Total net interest income of $44.6 million, up 50.8%
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· Average non-interest bearing deposits of $1.060 billion, up 45.1%
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· Total non-interest income of $19.0 million, up 16.5%
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· Commercial loan growth of $834.6 million, up 42.5%
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· January 2017 dividend of $0.18, up 5.9% from prior quarter
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First Busey Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2017 10-K Annual Report includes:
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Net interest margin, our net interest income expressed as a percentage of average earning assets stated on a tax-equivalent basis, increased to 3.42%, which included a tax-equivalent adjustment of $3.5 million, in 2016 compared to 3.10%, with a tax-equivalent adjustment of $2.2 million, in 2015 and 3.15%, with a tax-equivalent adjustment of $2.0 million, in 2014.
Loans generally have notably higher yields compared to interest-bearing bank deposits and investment securities and our loan growth contributed to a positive effect on net interest margin.
The 2016 increase primarily related to a first quarter 2016 strategic bond trade that repositioned the investment portfolio to maintain future net interest margin strength and simultaneously elevated the current economic value to stockholders through non-interest income.
The required allowance or actual losses on these impaired loans could differ significantly if the ultimate fair value of the collateral is significantly different from the fair value estimates used by First Busey in estimating such potential losses.
However, as the acquired loans renew and as the Company originates new loan production, it is necessary to establish an allowance for losses, which represents an amount that, in managements opinion, will be adequate to absorb probable credit losses.
Other income of $4.3 million...Read more
Pulaski Bank had positive retained...Read more
Management attempts to mitigate the...Read more
With an active growth plan,...Read more
In addition, the Company incurred...Read more
Typically, when we move loans...Read more
However, a rise in interest...Read more
Beginning on January 1, 2016,...Read more
Further, changes in accounting standards...Read more
Combined wealth management revenue, consisting...Read more
The increase in provision for...Read more
A tax-equivalent analysis is performed...Read more
We continue to evaluate our...Read more
Following the planned Merger with...Read more
Interest expense decreased during 2015...Read more
Effective rate on income taxes...Read more
The increases were primarily due...Read more
Pulaski related purchase accounting accretion...Read more
The level of such expenses...Read more
Portfolio loans, before allowance for...Read more
Subsequent decreases in the expected...Read more
The decrease in interest expense...Read more
With prior approval from its...Read more
Mortgage revenue of $7.2 million...Read more
Remittance processing revenue of $11.3...Read more
Remittance processing revenue of $11.1...Read more
The additional mortgage volume is...Read more
Declines in the fair value...Read more
Our priorities continue to focus...Read more
Total average interest-earning assets increased...Read more
Total average interest-earning assets increased...Read more
For such loans that are...Read more
The 2015 increase over 2014...Read more
After factoring in the tax...Read more
The effective rate on income...Read more
The net interest spread, which...Read more
We will continue to examine...Read more
The 2016 increase was primarily...Read more
The interest income increase related...Read more
The 2016 decrease related to...Read more
However, additional losses may be...Read more
Non-cumulative dividends were payable quarterly...Read more
The Company sold $31.1 million...Read more
While a financial institutions operating...Read more
Further, this acquisition created a...Read more
As Pulaski generated no legacy...Read more
Significant items affecting cash flows...Read more
asset ratio of not less...Read more
Regulatory expense increased 21.3% in...Read more
Regulatory expense increased 13.4% in...Read more
The increase in 2016 was...Read more
Average noninterest-bearing deposits increased $231.4...Read more
Average noninterest-bearing deposits increased $121.8...Read more
Interest expense increased during 2016...Read more
Tax favorable assets generally have...Read more
Overall, service charges on deposit...Read more
Service charges on deposit accounts...Read more
We anticipate we will have...Read more
The amount of loans held...Read more
The unrealized gain, net of...Read more
Because Busey Bank has been...Read more
The following tables show our...Read more
Total non-interest income of $75.2...Read more
Total non-interest income of $64.8...Read more
Asset quality metrics remain dependent...Read more
The provision for loan losses...Read more
The Company remains strongly core...Read more
For collateral dependent loans, First...Read more
For 2016, the guidelines, including...Read more
was impacted by our continued...Read more
When a loan becomes impaired,...Read more
Financial Statements, Disclosures and Schedules
Inside this 10-K Annual Report
Material Contracts, Statements, Certifications & more
First Busey Corp provided additional information to their SEC Filing as exhibits
Ticker: BUSE
CIK: 314489
Form Type: 10-K Annual Report
Accession Number: 0001104659-17-012511
Submitted to the SEC: Tue Feb 28 2017 4:06:10 PM EST
Accepted by the SEC: Tue Feb 28 2017
Period: Saturday, December 31, 2016
Industry: State Commercial Banks