Latest news with #FirstBuseyCorporation
Yahoo
14-05-2025
- Business
- Yahoo
First Busey Corporation Prices Depositary Share Offering
LEAWOOD, Kan., May 14, 2025 (GLOBE NEWSWIRE) -- First Busey Corporation ('Busey') (Nasdaq: BUSE), the holding company for Busey Bank and CrossFirst Bank, announced the pricing of an underwritten public offering of 8,000,000 depositary shares, each representing a 1/40th ownership interest in a share of its 8.25% Fixed Rate Series B Non-Cumulative Perpetual Preferred Stock (the 'Series B preferred stock'), with a liquidation preference of $1,000 per share (equivalent to $25.00 per depositary share). When, as, and if declared by the board of directors of Busey, dividends will be payable on the Series B preferred stock from the date of issuance at a rate of 8.25% per annum, payable quarterly in arrears, on March 1, June 1, September 1 and December 1 of each year, beginning on September 1, 2025. Busey may redeem the Series B preferred stock at its option at a redemption price equal to $25.00 per depositary share, as described in the prospectus supplement and accompanying prospectus relating to the offering. Net proceeds from the offering are expected to be used to redeem Busey's 5.25% Fixed-to-Floating Rate Subordinated Notes due 2030, and for general corporate purposes including to support balance sheet growth of Busey Bank. Busey intends to apply to list the depositary shares on the Nasdaq Global Select Market under the symbol 'BUSEP.' Piper Sandler & Co., Morgan Stanley & Co. LLC and Keefe, Bruyette & Woods, Inc. are serving as joint bookrunning managers for the offering, and Janney Montgomery Scott LLC is acting as the co-manager. The Company expects to close the offering, subject to customary conditions, on or about May 20, 2025. The Company filed a 'shelf' registration statement (File No. 333-274620) (including a base prospectus (the 'Base Prospectus')) on September 21, 2023 and the related preliminary prospectus supplement on May 13, 2025 (the 'Preliminary Prospectus Supplement') with the Securities and Exchange Commission ('SEC') for the offering to which this communication relates. You may obtain these documents for free by visiting EDGAR on the SEC's website at Alternatively, Busey, any underwriter or any dealer participating in the offering will arrange to send you the Base Prospectus and the Preliminary Prospectus Supplement if you request it by emailing Piper Sandler & Co. at fsg-dcm@ or calling Morgan Stanley & Co. LLC toll-free at 1-866-718-1649 or Keefe, Bruyette & Woods, A Stifel Company at 1-800-966-1559. This news release shall not constitute an offer to sell, or the solicitation of an offer to buy any securities, nor shall there be any offer or sale of these securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Corporate ProfileAs of March 31, 2025, First Busey Corporation (Nasdaq: BUSE) was a $19.46 billion financial holding company headquartered in Leawood, Bank, a wholly-owned bank subsidiary of First Busey Corporation headquartered in Champaign, Illinois, had total assets of $11.98 billion as of March 31, 2025. Busey Bank currently has 62 banking centers, with 21 in Central Illinois markets, 17 in suburban Chicago markets, 20 in the St. Louis Metropolitan Statistical Area, three in Southwest Florida, and one in Indianapolis. More information about Busey Bank can be found at CrossFirst Bank, a wholly-owned bank subsidiary of First Busey Corporation headquartered in Leawood, Kansas, had total assets of $7.45 billion as of March 31, 2025. CrossFirst Bank currently has 16 banking centers located across Arizona, Colorado, Kansas, Missouri, New Mexico, Oklahoma, and Texas. More information about CrossFirst Bank can be found at It is anticipated that CrossFirst Bank will be merged with and into Busey Bank on June 20, Busey's Wealth Management division, the Company provides a full range of asset management, investment, brokerage, fiduciary, philanthropic advisory, tax preparation, and farm management services to individuals, businesses, and foundations. Assets under care totaled $13.68 billion as of March 31, 2025. More information about Busey's Wealth Management services can be found at Busey Bank's wholly-owned subsidiary, FirsTech, specializes in the evolving financial technology needs of small and medium-sized businesses, highly regulated enterprise industries, and financial institutions. FirsTech provides comprehensive and innovative payment technology solutions, including online, mobile, and voice-recognition bill payments; money and data movement; merchant services; direct debit services; lockbox remittance processing for payments made by mail; and walk-in payments at retail agents. Additionally, FirsTech simplifies client workflows through integrations enabling support with billing, reconciliation, bill reminders, and treasury services. More information about FirsTech can be found at the fourth consecutive year, Busey was named among 2025's America's Best Banks by Forbes. Ranked 88th overall, Busey was one of seven banks headquartered in Illinois included on this year's list. Busey was also named among the 2024 Best Banks to Work For by American Banker, the 2024 Best Places to Work in Money Management by Pensions and Investments, the 2024 Best Places to Work in Illinois by Daily Herald Business Ledger, the 2025 Best Places to Work in Indiana by the Indiana Chamber of Commerce, and the 2024 Best Companies to Work For in Florida by Florida Trend magazine. We are honored to be consistently recognized globally, nationally and locally for our engaged culture of integrity and commitment to community development. First Busey Corporation Contacts For Financials: For Media: Scott Phillips, Interim CFO Amy L. Randolph, EVP & COO First Busey Corporation First Busey Corporation (239) 689-7167 (217) 365-4049 This press release may contain 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to Busey's financial condition, results of operations, plans, objectives, future performance, and business. Forward-looking statements, which may be based upon beliefs, expectations, and assumptions of Busey's management and on information currently available to management, are generally identifiable by the use of words such as 'believe,' 'expect,' 'anticipate,' 'plan,' 'intend,' 'estimate,' 'may,' 'will,' 'would,' 'could,' 'should,' 'position,' or other similar expressions. Additionally, all statements in this document, including forward-looking statements, speak only as of the date they are made, and Busey undertakes no obligation to update any statement in light of new information or future events. A number of factors, many of which are beyond Busey's ability to control or predict, could cause actual results to differ materially from those in any forward-looking statements. These factors include, among others, the following: (1) the strength of the local, state, national, and international economies and financial markets (including effects of inflationary pressures, the threat or implementation of tariffs, trade wars, and changes to immigration policy); (2) changes in, and the interpretation and prioritization of, local, state, and federal laws, regulations, and governmental policies (including those concerning Busey's general business); (3) the economic impact of any future terrorist threats or attacks, widespread disease or pandemics, or other adverse external events that could cause economic deterioration or instability in credit markets (including Russia's invasion of Ukraine and the conflict in the Middle East); (4) unexpected results of acquisitions, including the acquisition of CrossFirst Bankshares, Inc., which may include the failure to realize the anticipated benefits of the acquisitions and the possibility that the transaction and integration costs may be greater than anticipated; (5) the imposition of tariffs or other governmental policies impacting the value of products produced by Busey's commercial borrowers; (6) new or revised accounting policies and practices as may be adopted by state and federal regulatory banking agencies, the Financial Accounting Standards Board, the Securities and Exchange Commission, or the Public Company Accounting Oversight Board; (7) changes in interest rates and prepayment rates of Busey's assets (including the impact of sustained elevated interest rates); (8) increased competition in the financial services sector (including from non-bank competitors such as credit unions and fintech companies) and the inability to attract new customers; (9) changes in technology and the ability to develop and maintain secure and reliable electronic systems; (10) the loss of key executives or associates, talent shortages, and employee turnover; (11) unexpected outcomes and costs of existing or new litigation, investigations, or other legal proceedings, inquiries, and regulatory actions involving Busey (including with respect to Busey's Illinois franchise taxes); (12) fluctuations in the value of securities held in Busey's securities portfolio, including as a result of changes in interest rates; (13) credit risk and risk from concentrations (by type of borrower, geographic area, collateral, and industry), within Busey's loan portfolio and large loans to certain borrowers (including commercial real estate loans); (14) the concentration of large deposits from certain clients who have balances above current Federal Deposit Insurance Corporation insurance limits and may withdraw deposits to diversify their exposure; (15) the level of non-performing assets on Busey's balance sheets; (16) interruptions involving information technology and communications systems or third-party servicers; (17) breaches or failures of information security controls or cybersecurity-related incidents; (18) the economic impact on Busey and its customers of climate change, natural disasters, and exceptional weather occurrences such as tornadoes, hurricanes, floods, blizzards, and droughts; (19) the ability to successfully manage liquidity risk, which may increase dependence on non-core funding sources such as brokered deposits, and may negatively impact Busey's cost of funds; (20) the ability to maintain an adequate level of allowance for credit losses on loans; (21) the effectiveness of Busey's risk management framework; and (22) the ability of Busey to manage the risks associated with the foregoing. These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements.
Yahoo
21-02-2025
- Business
- Yahoo
3 US Dividend Stocks To Enhance Your Portfolio
As the U.S. stock market experiences fluctuations, with major indices like the Dow Jones and S&P 500 facing potential weekly losses, investors are keenly observing how these shifts might impact their portfolios. In such a climate, dividend stocks can offer a measure of stability and income, making them an attractive option for those looking to enhance their investment strategy amidst market volatility. Name Dividend Yield Dividend Rating Columbia Banking System (NasdaqGS:COLB) 5.33% ★★★★★★ Interpublic Group of Companies (NYSE:IPG) 4.79% ★★★★★★ FMC (NYSE:FMC) 6.07% ★★★★★★ Peoples Bancorp (NasdaqGS:PEBO) 4.92% ★★★★★★ Isabella Bank (OTCPK:ISBA) 4.57% ★★★★★★ Dillard's (NYSE:DDS) 5.16% ★★★★★★ Southside Bancshares (NYSE:SBSI) 4.68% ★★★★★★ Citizens & Northern (NasdaqCM:CZNC) 5.27% ★★★★★★ First Interstate BancSystem (NasdaqGS:FIBK) 5.84% ★★★★★★ Virtus Investment Partners (NYSE:VRTS) 4.94% ★★★★★★ Click here to see the full list of 139 stocks from our Top US Dividend Stocks screener. Below we spotlight a couple of our favorites from our exclusive screener. Simply Wall St Dividend Rating: ★★★★★☆ Overview: First Busey Corporation, with a market cap of approximately $1.42 billion, operates as the bank holding company for Busey Bank, providing retail and commercial banking products and services to a diverse range of customers in the United States. Operations: First Busey Corporation generates revenue through its retail and commercial banking operations, offering a wide array of financial products and services to individual, corporate, institutional, and governmental clients across the United States. Dividend Yield: 4% First Busey Corporation recently increased its quarterly dividend to US$0.25 per share, marking a 4.2% rise from the previous payout, and maintains a reliable dividend history with stable growth over the past decade. Despite net charge-offs rising to US$2.85 million in Q4 2024, earnings per share remained strong at US$0.49 for the quarter. The company's dividends are well-covered by earnings with a current payout ratio of 47.8%, indicating sustainability and potential for future coverage improvements. Get an in-depth perspective on First Busey's performance by reading our dividend report here. Upon reviewing our latest valuation report, First Busey's share price might be too pessimistic. Simply Wall St Dividend Rating: ★★★★★☆ Overview: Westamerica Bancorporation, with a market cap of $1.33 billion, operates as a bank holding company for Westamerica Bank, offering a range of banking products and services to individual and commercial customers. Operations: Westamerica Bancorporation generates its revenue primarily from its banking segment, which accounted for $293.25 million. Dividend Yield: 3.5% Westamerica Bancorporation declared a quarterly dividend of US$0.44 per share, maintaining its stable and reliable dividend history over the past decade. Despite a decline in net interest income to US$250.6 million and net income to US$138.64 million for 2024, the company's dividends remain well-covered by earnings with a low payout ratio of 33.9%. Recent leadership changes include John Sousa's appointment as Senior Vice President and Treasurer, potentially impacting financial strategy moving forward. Click here to discover the nuances of Westamerica Bancorporation with our detailed analytical dividend report. Our comprehensive valuation report raises the possibility that Westamerica Bancorporation is priced lower than what may be justified by its financials. Simply Wall St Dividend Rating: ★★★★★☆ Overview: Carter's, Inc. designs, sources, and markets branded childrenswear under various brands such as Carter's and OshKosh in the United States and internationally, with a market cap of approximately $1.87 billion. Operations: Carter's, Inc. generates its revenue through three primary segments: U.S. Retail ($1.43 billion), International ($408.17 million), and U.S. Wholesale ($1 billion). Dividend Yield: 6.2% Carter's, Inc. offers a high dividend yield of 6.17%, placing it among the top 25% of US dividend payers, although its track record has been volatile with past annual drops over 20%. The company's dividends are well-covered by both earnings and cash flows, with payout ratios of 49.8% and 41.5%, respectively. Recent leadership changes include the retirement of CEO Michael D. Casey and Carter's addition to the S&P 600 Index following its removal from the S&P 400 Index. Unlock comprehensive insights into our analysis of Carter's stock in this dividend report. Our valuation report here indicates Carter's may be undervalued. Get an in-depth perspective on all 139 Top US Dividend Stocks by using our screener here. Invested in any of these stocks? Simplify your portfolio management with Simply Wall St and stay ahead with our alerts for any critical updates on your stocks. Elevate your portfolio with Simply Wall St, the ultimate app for investors seeking global market coverage. Explore high-performing small cap companies that haven't yet garnered significant analyst attention. Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management. Find companies with promising cash flow potential yet trading below their fair value. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NasdaqGS:BUSE NasdaqGS:WABC and NYSE:CRI. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Sign in to access your portfolio
Yahoo
07-02-2025
- Business
- Yahoo
Independent Director of First Busey Picks Up 9.9% More Stock
Potential First Busey Corporation (NASDAQ:BUSE) shareholders may wish to note that the Independent Director, Stephen King, recently bought US$403k worth of stock, paying US$24.53 for each share. Although the purchase only increased their holding by 9.9%, it is still a solid purchase in our view. View our latest analysis for First Busey In fact, the recent purchase by Stephen King was the biggest purchase of First Busey shares made by an insider individual in the last twelve months, according to our records. That means that an insider was happy to buy shares at around the current price of US$25.35. Of course they may have changed their mind. But this suggests they are optimistic. If someone buys shares at well below current prices, it's a good sign on balance, but keep in mind they may no longer see value. The good news for First Busey share holders is that insiders were buying at near the current price. In the last twelve months First Busey insiders were buying shares, but not selling. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. If you want to know exactly who sold, for how much, and when, simply click on the graph below! First Busey is not the only stock that insiders are buying. For those who like to find small cap companies at attractive valuations, this free list of growing companies with recent insider purchasing, could be just the ticket. Another way to test the alignment between the leaders of a company and other shareholders is to look at how many shares they own. I reckon it's a good sign if insiders own a significant number of shares in the company. It appears that First Busey insiders own 6.4% of the company, worth about US$90m. While this is a strong but not outstanding level of insider ownership, it's enough to indicate some alignment between management and smaller shareholders. It is good to see recent purchasing. And an analysis of the transactions over the last year also gives us confidence. When combined with notable insider ownership, these factors suggest First Busey insiders are well aligned, and that they may think the share price is too low. Of course, the future is what matters most. So if you are interested in First Busey, you should check out this free report on analyst forecasts for the company. Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies. For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
