First Busey Corporation Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2015; Reports Net Charge-Offs for the Fourth Quarter Ended December 31, 2015
January 27, 2016 at 03:40 am IST
Share
First Busey Corporation reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2015. For the quarter, the company reported total interest income of $31,119,000 compared to $27,657,000 a year ago. Net interest income was $29,599,000 compared to $26,087,000 a year ago. Income before income taxes was $16,551,000 compared to $12,356,000 a year ago. Net income was $10,683,000 compared to $7,593,000 a year ago. Income available for common stockholders was $10,528,000 compared to $7,411,000 a year ago. Fully-diluted earnings per common share were $0.36 compared to $0.25 a year ago. Return on average assets was 1.08% compared to 0.82% a year ago. Return on average common equity was 11.25% compared to 8.19% a year ago. Return on average tangible common equity was 12.36% compared to 8.88% a year ago.
For the full year, the company reported total interest income of $118,022,000 compared to $108,075,000 a year ago. Net interest income was $111,815,000 compared to $101,576,000 a year ago. Income before income taxes was $59,702,000 compared to $50,308,000 a year ago. Net income was $39,006,000 compared to $32,774,000 a year ago. Income available for common stockholders was $38,306,000 compared to $32,047,000 a year ago. Fully-diluted earnings per common share were $1.32 compared to $1.10 a year ago. Return on average assets was 0.98% compared to 0.91% a year ago. Return on average common equity was 10.41% compared to 9.11% a year ago. Return on average tangible common equity was 11.48% compared to 9.92% a year ago. Book value per common share was $13.01 compared to $12.47 a year ago. Tangible book value per common share was $11.86 compared to $11.52 a year ago.
For the quarter, the company recorded net charge-offs of $725,000 against net recoveries of $0.4 million for the same period last year.
First Busey Corporation is a bank holding company, which operates through its subsidiary, Busey Bank. The Companyâs segment includes Banking, which provides a full range of banking services to individual and corporate customers through its banking center network in Illinois; the St. Louis, Missouri metropolitan area; southwest Florida; and Indianapolis, Indiana; FirsTech segment, which provides comprehensive payment technology solutions, including online, mobile and voice-recognition bill payments; money management and credit card networks; direct debit services; lockbox remittance processing for payments made by mail; and walk-in payments. The segment also provides additional tools to help clients with billing, reconciliation, bill reminders, and treasury services, and Wealth Management segment provides a full range of asset management, investment, brokerage, fiduciary, philanthropic advisory, tax preparation and farm management services to individuals, businesses, and foundations.
First Busey Corporation Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2015; Reports Net Charge-Offs for the Fourth Quarter Ended December 31, 2015