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First Busey Corporation Is Ready To Grow, Does That Make It A Buy?

Most banks suffered during the financial crisis, but not all of them have recovered - regardless of how underlying operations have performed. Some of the worst offenders are still trying to hold-on by failing to set aside an adequate amount of reserves, while others look pretty after excessive charge-offs, and then of course there are those like BNCCORP (OTCQX:BNCC) and First Busey Corporation (NASDAQ:BUSE) whose problems came from one-time events. BNCCORP's was related to a fraud, but Busey Corporation's was an untimely acquisition that produced significant goodwill impairment charges (non-cash). Because of this, I tend to believe BUSE's lending resume deserves more credit, but regardless of who I am and what I believe, the bank's past

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