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Texas is a hot spot for healthy ROE among banks with $2 billion to $10 billion in assets.
August 1 -
First Busey Corp. in Champaign, Ill., has received $72.6 million from the Small Business Lending Fund, the largest award to date since the Treasury Department began disbursing funds to community banks last month.
August 25
First Busey Bancorp (BUSE) in Champaign, Ill., reported a dip in quarterly profit as lending revenue fell and expenses rose.
The $3.6 billion-asset company said Tuesday that it earned $6.4 million in the first quarter, a 16% drop from the first quarter of 2012. Earnings per share of 6 cents met analysts' expectations.
Net interest income fell 4%, to $24.6 million, as net interest margin decreased by 21 basis points, to 3.10%. Provision for loan losses was $2 million, $3 million lower than in the prior-year quarter, and net chargeoffs fell 77%, to $2.2 million.
Noninterest income fell 7%, to $16.6 million, as income from First Busey's investment in private-equity funds fell. Noninterest expenses rose 9%, to $29.6 million, led by a rise in compensation costs.
