First Busey (BUSE) Q2 2026 earnings summary

Executive summary

• Achieved near-record profitability in 2Q26 with adjusted ROAA of 1.43%, adjusted ROATCE of 14.61%, and efficiency ratio of 54.0%, all improved year-over-year and quarter-over-quarter.

• Adjusted EPS grew 9.5% YoY to $0.69, with adjusted net income to common shareholders steady at $59 million and net income for Q2 2026 at $63.2 million ($0.69 per diluted share).

• Tangible book value per share increased 6.4% YoY to $20.40, and share repurchases since March 2025 have returned nearly $200 million to shareholders.

• Wealth management segment posted its third consecutive record revenue quarter, with AUC up 17% YoY to $16.51 billion.

• Deposit growth was robust at 11% annualized, with core deposits comprising 93.7% of total deposits.

Financial highlights

• Total assets at $18.2 billion, total loans at $13.2 billion, and total deposits at $15.1 billion as of 6/30/26.

• Net interest margin was 3.72% (3.62% adjusted), with net interest income at $152.4 million for the quarter.

• Adjusted pre-provision net revenue reached $85 million, with an adjusted PPNR ROAA of 1.90%.

• Noninterest income contributed 21.6% of total operating revenue, led by wealth management and payment solutions, and increased 4.8% sequentially.

• Noninterest expense decreased 13.0% sequentially, mainly from lower salaries and data processing costs.

Outlook and guidance

• Expect continued loan balance declines due to payoff headwinds into 3Q26, but asset quality remains strong.

• Deposit growth expected to remain robust, supported by seasonal inflows and strategic initiatives.

• Balance sheet positioned for rate neutrality, with sensitivity analysis showing resilience to rate shocks; a +100 bps rate shock would increase net interest income by 1.8% over the next year.

• Management expects continued flexibility to support clients amid volatility and aims to optimize capital allocation for long-term shareholder value.