First Busey: Q4 Earnings Snapshot

CHAMPAIGN, Ill. (AP) _ First Busey Corp. (BUSE) on Tuesday reported fourth-quarter net income of $34.4 million.

The Champaign, Illinois-based bank said it had earnings of 61 cents per share. Earnings, adjusted for non-recurring costs, were 65 cents per share.

The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 74 cents per share.

The bank holding company posted revenue of $135 million in the period. Its revenue net of interest expense was $120.2 million, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $122.5 million.

For the year, the company reported profit of $128.3 million, or $2.29 per share. Revenue was reported as $450.2 million.

First Busey shares have dropped almost 3% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $24.07, a decrease of 14% in the last 12 months.

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