Regional banking company First Busey (NASDAQ:BUSE) reported revenue ahead of Wall Streets expectations in Q4 CY2025, with sales up 71.2% year on year to $200.2 million. Its non-GAAP profit of $0.68 per share was 9.2% above analysts’ consensus estimates.

Is now the time to buy First Busey? Find out in our full research report.

Net Interest Income: $157.6 million vs analyst estimates of $156.3 million (92.5% year-on-year growth, 0.8% beat)

Net Interest Margin: 3.7% vs analyst estimates of 3.7% (4.3 basis point beat)

Revenue: $200.2 million vs analyst estimates of $197.2 million (71.2% year-on-year growth, 1.5% beat)

Efficiency Ratio: 57.4% vs analyst estimates of 56.6% (77.3 basis point miss)

Adjusted EPS: $0.68 vs analyst estimates of $0.62 (9.2% beat)

Tangible Book Value per Share: $20.23 vs analyst estimates of $19.79 (13.1% year-on-year growth, 2.2% beat)

Market Capitalization: $2.19 billion

Tracing its roots back to 1868 during America's post-Civil War reconstruction era, First Busey (NASDAQ:BUSE) is a bank holding company that provides commercial and retail banking, wealth management, and payment technology solutions across Illinois, Missouri, Florida, and Indiana.

Net interest income and and fee-based revenue are the two pillars supporting bank earnings. The former captures profit from the gap between lending rates and deposit costs, while the latter encompasses charges for banking services, credit products, wealth management, and trading activities. Over the last five years, First Busey grew its revenue at a solid 12.8% compounded annual growth rate. Its growth beat the average banking company and shows its offerings resonate with customers.

We at StockStory place the most emphasis on long-term growth, but within financials, a half-decade historical view may miss recent interest rate changes, market returns, and industry trends. First Busey’s annualized revenue growth of 28.2% over the last two years is above its five-year trend, suggesting its demand was strong and recently accelerated.

Note: Quarters not shown were determined to be outliers, impacted by outsized investment gains/losses that are not indicative of the recurring fundamentals of the business.

This quarter, First Busey reported magnificent year-on-year revenue growth of 71.2%, and its $200.2 million of revenue beat Wall Street’s estimates by 1.5%.

Net interest income made up 71.8% of the company’s total revenue during the last five years, meaning lending operations are First Busey’s largest source of revenue.

Our experience and research show the market cares primarily about a bank’s net interest income growth as non-interest income is considered a lower-quality and non-recurring revenue source.

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Banks operate as balance sheet businesses, with profits generated through borrowing and lending activities. Valuations reflect this reality, emphasizing balance sheet strength and long-term book value compounding ability.

This explains why tangible book value per share (TBVPS) stands as the premier banking metric. TBVPS strips away questionable intangible assets, revealing concrete per-share net worth that investors can trust. Traditional metrics like EPS are helpful but face distortion from M&A activity and loan loss accounting rules.

First Busey’s TBVPS grew at a tepid 4% annual clip over the last five years. However, TBVPS growth has accelerated recently, growing by 10.3% annually over the last two years from $16.62 to $20.23 per share.

Over the next 12 months, Consensus estimates call for First Busey’s TBVPS to grow by 6.7% to $21.59, lousy growth rate.

It was encouraging to see First Busey beat analysts’ tangible book value per share expectations this quarter. We were also happy its revenue outperformed Wall Street’s estimates. Overall, this print had some key positives. The stock remained flat at $25.08 immediately following the results.

Is First Busey an attractive investment opportunity right now? What happened in the latest quarter matters, but not as much as longer-term business quality and valuation, when deciding whether to invest in this stock. We cover that in our actionable full research report which you can read here, it’s free.