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First Busey (BUSE) Company Profile

Updated Jun 3, 2019
First Busey has the following business profile:
Company's Full Name:First Busey Corporation
Short Name:First Busey
Trading Ticker Symbol:BUSE
Primary Exchange:NASDAQ
Headquarter City/Country:Urbana, Illionois
Primary Industry Sector:Finance
Seconday Sub-sector:Major Banks
Main Business Areas: Finance, Major Banks, Financial Services, Regional US Banks, Bank
Dividend Payments:Dividend History

Market and Trading Information for First Busey

The following details were available for trading and market data about the stock of First Busey as of writing:
Current Share Price:$24.76
Previous Year's Closing Price:$24.54
Percentage Price Change (YTD):0.9%
Market Cap:$1.38 billion
52-week Price Range:$23.13 - $33.25
Dividend Per Share:$0.81
EPS (TTM):2.04
Price-Earnings (Trailing):12.16
Price-Earnings (Forward):10.67

Company Profile and Business Description for First Busey

First Busey Corporation (First Busey), incorporated on June 14, 1993, is a financial holding company. The Company offers a range of financial services through its banking and non-banking subsidiaries. The Company operates through three segments: Banking, Remittance Processing and Wealth Management. The Banking segment provides a range of banking services to individual and corporate customers through its branch network in downstate Illinois, St. Louis, Missouri metropolitan area, southwest Florida and through its branch in Indianapolis, Indiana. The Remittance Processing segment provides for online bill payments, lockbox and walk-in payments. The Wealth Management 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.

The Company conducts the business of banking and related services through Busey Bank (the Bank), asset management, brokerage and fiduciary services through Busey Wealth Management, Inc. (Busey Wealth Management) and Trevett Capital Partners (Trevett), and retail payment processing through FirsTech, Inc. (FirsTech). The Bank offers a range of diversified financial products and services for consumers and businesses, including online and mobile banking capabilities to conveniently serve its customers' needs. Services include commercial, agricultural and real estate loans, and retail banking services, including home equity lines of credit, residential real estate and consumer loans, customary types of demand and savings deposits, money transfers, safe deposit services, and Individual Retirement Account (IRA) and other fiduciary services through its branch, automated teller machine (ATM) and technology-based networks.

Lending Activities

The Company's loan portfolio includes commercial loans, commercial real estate loans, real estate construction loans, retail real estate loans and retail other loans. Its commercial loans typically comprise working capital loans or business expansion loans, including loans for asset purchases and other business loans. Its retail real estate loans comprises direct consumer loans that include residential real estate, residential real estate construction loans, home equity lines of credit and home equity loans. Its retail other loans consist of installment loans to individuals, including automotive loans. As of December 31, 2016, the Company's loans held for sale totaled $256.3 million.

Investment Activities

The Company has classified its investment securities as available for sale and held to maturity. Its available-for-sale securities include the United States Treasury securities, Obligations of the United States Government corporations and agencies, obligations of states and political subdivisions, residential mortgage-backed securities and corporate debt securities. The held-to-maturity securities include obligations of states and political subdivisions and commercial mortgage-backed securities. As of December 31, 2016, the fair value of securities available for sale was $759.8 million. The Company had $47.8 million of securities classified as held to maturity at December 31, 2016.

Sources of Funds

The Company's sources of funds consist of deposits, investment maturities and sales, loan principal repayments and capital funds. The various types of deposits offered by the bank include demand deposits, non-interest-bearing; interest-bearing transaction deposits; savings deposits; money market deposits, and time deposits. As of December 31, 2016, the Bank's total deposits were approximately $4.37 billion.

Subsidiary Activities

The Company's Busey Wealth Management is engaged in providing asset management, investment and fiduciary services to individuals, businesses and foundations through its subsidiary, Busey Trust Company. For individuals, Busey Trust Company provides investment management, trust and estate advisory services and financial planning. For businesses, it provides investment management, business succession planning and employee retirement plan services. For foundations, Busey Trust Company provides investment management, investment strategy consulting and fiduciary services. Brokerage-related services are offered by Busey Investment Services, a division of Busey Trust Company, through a third-party arrangement with Raymond James Financial Services. The Company's FirsTech offers pay processing solutions, such as walk-in payment processing for payments delivered by customers to retail pay agents; online bill payment solutions for payments made by customers on a billing company's Website; customer service payments for payments accepted over the telephone; direct debit services; electronic concentration of payments delivered by the Automated Clearing House network; money management software and credit card networks, and lockbox remittance processing of payments delivered by mail.

201 W Main St

Peer / Competitor Companies of Major Banks Sector

Along with First Busey Corporation, the following other peer (competitor) companies also exist within the same Major Banks - Finance sector whose company profile and dividend history is as follows:

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▶ Allegiance Bancshares (ABTX): Allegiance Bancshares, Inc., incorporated on April 30, 2008, is a bank holding company. Through its subsidiary, Allegiance Bank (the Bank), the Company provides a range of commercial banking services primarily ....See Detailed Company Profile  and Dividend History.

▶ American National Bankshares (AMNB): American National Bankshares Inc. operates as the bank holding company for American National Bank and Trust Company that provides financial products and services. The company operates through two segm....See Detailed Company Profile  and Dividend History.

▶ American River Bankshares (AMRB): American River Bankshares operates as the holding company for American River Bank that provides commercial banking products and services to small and middle-market businesses, and individuals in Calif....See Detailed Company Profile  and Dividend History.

▶ Ameris Bancorp (ABCB): Ameris Bancorp operates as the holding company for Ameris Bank that provides banking services to retail and commercial customers primarily in Georgia, Alabama, Florida, and South Carolina. The company....See Detailed Company Profile  and Dividend History.

▶ AmeriServ Financial (ASRV): AmeriServ Financial Inc. operates as the bank holding company for AmeriServ Financial Bank that provides various consumer, mortgage, and commercial financial products. It offers retail banking service....See Detailed Company Profile  and Dividend History.

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▶ Ames National (ATLO): Ames National Corporation, incorporated on January 15, 1975, is a bank holding company. The Company operates through banking segment. The Company owns five banking subsidiaries consisting of two national banks ....See Detailed Company Profile  and Dividend History.

▶ ANZ Bank ADR (ANZBY): Australia and New Zealand Banking Group Limited provides various banking and financial products and services. The company's Australia division offers retail products and services to consumers through the branch....See Detailed Company Profile  and Dividend History.

▶ Arrow Financial (AROW): Arrow Financial Corporation (Arrow), incorporated on March 21, 1983, is a bank holding company. The Companys banking subsidiaries are Glens Falls National Bank and Trust Company (Glens Falls National) and ....See Detailed Company Profile  and Dividend History.

▶ Associated Banc-Corp (ASB): Associated Banc-Corp, incorporated on October 20, 1964, is a bank holding company. The Company, through its banking subsidiary Associated Bank, National Association (the Bank) and various nonbanking subsidiaries, provides a ....See Detailed Company Profile  and Dividend History.

▶ Atlantic Capital Bancshares (ACBI): Atlantic Capital Bancshares, Inc. operates as the holding company for Atlantic Capital Bank, N.A. that provides commercial banking products and services in the United States. The company offers NOW, m....See Detailed Company Profile  and Dividend History.

▶ Auburn National Bancorporation (AUBN): Auburn National Bancorporation, Inc., incorporated on April 12, 1990, is a bank holding company. The Company operates through its subsidiary AuburnBank (the Bank), which is a commercial bank located in ....See Detailed Company Profile  and Dividend History.

▶ Banc of California (BANC): Banc of California, Inc. operates as the bank holding company for Banc of California, National Association that provides banking products and services in the United States. The company's deposits cons....See Detailed Company Profile  and Dividend History.

▶ BancFirst (BANF): BancFirst Corporation, incorporated on July 12, 1984, is a financial holding company. The Company conducts its operating activities through its principal subsidiary, BancFirst (the Bank), a state-chartered bank. The Company ....See Detailed Company Profile  and Dividend History.

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▶ Banco Bradesco Sa (BBD): Banco Bradesco S.A. provides banking and financial products and services to individuals, enterprises, and corporations and institutions. It operates through two segments, Banking; and Insurance, Pensi....See Detailed Company Profile  and Dividend History.

▶ Banco Bradesco Sa (BBDO): Banco Bradesco S.A. provides banking and financial products and services to individuals, enterprises, and corporations and institutions. It operates through two segments, Banking; and Insurance, Pension Plans a....See Detailed Company Profile  and Dividend History.

▶ Bancorp of New Jersey (BKJ): Bancorp of New Jersey, Inc. operates as a bank holding company of Bank of New Jersey that provides banking services to individuals, businesses, non-profit organizations, and governmental units. The co....See Detailed Company Profile  and Dividend History.

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