FIG Partners Says Investment in Talent to Spur Organic Growth in 2012 for First Busey

In a research report published today, FIG Partners expects a decline in First Busey Corp.'s BUSE earnings as higher operating costs will weigh on results. FIG Partners commented in the report, “This investment in employees is necessary to drive future organic growth and comes at a good time as credit costs continue to be on the decline following the heavy lifting done over the past couple of years. This investment should pay significant benefits as the economy improves and loan demand increases. To be sure, BUSE also remains on the hunt for external growth opportunities. Nothing appears imminent today; however, we expect a value creating transaction within the next 12-18 months.” FIG Partners maintains its Market Perform rating on First Busey, which close Friday at $5.20.