LEAWOOD, Kan. (AP) 鈥� LEAWOOD, Kan. (AP) 鈥� First Busey Corp. (BUSE) on Tuesday reported first-quarter net income of $50 million, after reporting a loss in the same period a year earlier.
The Leawood, Kansas-based bank said it had earnings of 52 cents per share. Earnings, adjusted for one-time gains and costs, were 67 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 57 cents per share.
The bank holding company posted revenue of $267.8 million in the period. Its revenue net of interest expense was $196.2 million, which missed Street forecasts. Three analysts surveyed by Zacks expected $197.2 million.
First Busey shares have increased 12% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $26.59, a rise of 27% in the last 12 months.
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