First Busey (BUSE) 10-K/A 23 Feb 24 2023 FY Annual report (amended) Financial data

Cover Page

Cover Page - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2023	Feb. 22, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K/A
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	0-15950
Entity Registrant Name	FIRST BUSEY CORPORATION
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	37-1078406
Entity Address, Address Line One	100 W. University Ave.
Entity Address, City or Town	Champaign
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	61820
City Area Code	217
Local Phone Number	365-4544
Title of 12(b) Security	Common Stock ($0.001 par value)
Trading Symbol	BUSE
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Public Float			$ 1
Entity Common Stock, Shares Outstanding		55,247,094
Documents Incorporated by Reference	Portions of the definitive Proxy Statement for the 2024 Annual Meeting of Stockholders of First Busey Corporation to be held May 22, 2024, are incorporated by reference in this Form 10-K in response to Part III.
Entity Central Index Key	0000314489
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2023
Audit Information [Abstract]
Auditor Firm ID	49
Auditor Name	RSM US LLP
Auditor Location	Champaign, Illinois

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Cash and cash equivalents:
Cash and due from banks	$ 134,680	$ 117,513
Interest-bearing deposits	584,901	109,651
Total cash and cash equivalents	719,581	227,164
Debt securities available for sale	2,087,571	2,461,393
Debt securities held to maturity	872,628	918,312
Equity securities	9,812	11,535
Loans held for sale	2,379	1,253
Portfolio loans (net of ACL of $91,740 at December 31, 2023; $91,608 at December 31, 2022)	7,559,294	7,634,094
Premises and equipment, net	122,594	126,524
Right of use assets	11,027	12,829
Goodwill	317,873	317,873
Other intangible assets, net	35,991	46,423
Cash surrender value of bank owned life insurance	182,975	180,485
Other assets	361,690	398,792
Total assets	12,283,415	12,336,677
Deposits:
Noninterest-bearing	2,834,655	3,393,666
Interest-bearing	7,456,501	6,677,614
Total deposits	10,291,156	10,071,280
Securities sold under agreements to repurchase	187,396	229,806
Short-term borrowings	12,000	351,054
Long-term debt	18,000	30,000
Subordinated notes, net of unamortized issuance costs	222,882	222,038
Junior subordinated debt owed to unconsolidated trusts	71,993	71,810
Lease liabilities	11,308	12,995
Other liabilities	196,699	201,717
Total liabilities	11,011,434	11,190,700
Outstanding commitments and contingent liabilities (see Notes 6 and 16)
Stockholders’ equity
Common stock, ($0.001 par value; 100,000,000 shares authorized)	58	58
Additional paid-in capital	1,323,595	1,320,980
Retained earnings	237,197	168,769
AOCI	(218,803)	(273,278)
Total stockholders’ equity before treasury stock	1,342,047	1,216,529
Treasury stock at cost	(70,066)	(70,552)
Total stockholders’ equity	1,271,981	1,145,977
Total liabilities and stockholders’ equity	$ 12,283,415	$ 12,336,677
Shares
Common shares issued (in shares)	58,116,969	58,116,970
Less treasury shares (in shares)	(2,872,850)	(2,837,846)
Common shares outstanding (in shares)	55,244,119	55,279,124

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Portfolio loans, allowance for credit losses	$ 91,740	$ 91,608
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	100,000,000	100,000,000

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Interest income
Interest and fees on loans	$ 385,848	$ 287,477	$ 252,097
Interest and dividends on investment securities:
Taxable interest income	80,316	66,140	41,787
Non-taxable interest income	2,678	3,272	3,765
Other interest income	10,531	3,097	1,151
Total interest income	479,373	359,986	298,800
Interest expense
Deposits	123,985	16,112	12,583
Federal funds purchased and securities sold under agreements to repurchase	5,203	1,475	227
Short-term borrowings	12,775	1,647	279
Long-term debt	1,700	1,310	657
Senior notes	0	637	1,598
Subordinated notes	12,406	12,338	9,918
Junior subordinated debt owed to unconsolidated trusts	3,853	3,029	2,840
Total interest expense	159,922	36,548	28,102
Net interest income	319,451	323,438	270,698
Provision for credit losses	2,399	4,623	(15,101)
Net interest income after provision for credit losses	317,052	318,815	285,799
Noninterest income
Mortgage revenue	1,089	1,895	7,239
Income on bank owned life insurance	4,701	3,663	5,166
Realized net gains (losses) on securities	(28)	50	29
Unrealized net gains (losses) recognized on equity securities	(2,171)	(2,183)	3,041
Other income	11,248	14,822	10,292
Total noninterest income	122,384	126,803	132,804
Noninterest expense
Salaries, wages, and employee benefits	162,597	159,016	145,312
Data processing	23,708	21,648	21,862
Net occupancy expense of premises	18,214	19,130	18,346
Furniture and equipment expenses	6,759	7,645	8,301
Professional fees	7,147	6,125	7,549
Amortization of intangible assets	10,432	11,628	11,274
Interchange expense	6,864	6,298	5,792
FDIC insurance	5,650	4,058	3,083
Other expense	44,161	48,333	40,261
Total noninterest expense	285,532	283,881	261,780
Income before income taxes	153,904	161,737	156,823
Income taxes	31,339	33,426	33,374
Net income	$ 122,565	$ 128,311	$ 123,449
Basic earnings per common share (in dollars per share)	$ 2.21	$ 2.32	$ 2.23
Diluted earnings per common share (in dollars per share)	2.18	2.29	2.20
Dividends declared per share of common stock (in dollars per share)	$ 0.96	$ 0.92	$ 0.92
Wealth management fees
Noninterest income
Non-interest income	$ 57,309	$ 55,378	$ 53,086
Fees for customer services
Noninterest income
Non-interest income	29,044	33,111	35,604
Payment technology solutions
Noninterest income
Non-interest income	$ 21,192	$ 20,067	$ 18,347

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 122,565	$ 128,311	$ 123,449
Unrealized/Unrecognized gains (losses) on debt securities:
Net unrealized holding gains (losses) on debt securities available for sale, net of taxes of $(16,674), $79,460, and $23,367	41,824	(199,302)	(58,610)
Net unrecognized gains (losses) on debt securities transferred to held to maturity from available for sale, net of taxes of $—, $13,812, and $—, respectively	0	(34,644)	0
Reclassification adjustment for realized (gains) losses on debt securities available for sale included in net income, net of taxes of $(1,569), $7, and $(17), respectively	3,934	(19)	44
Amortization of unrecognized losses on securities transferred to held to maturity, net of taxes of $(1,763), $(1,893), and $—, respectively	4,426	4,745	0
Net change in unrealized/unrecognized gains (losses) on debt securities	50,184	(229,220)	(58,566)
Unrealized gains (losses) on cash flow hedges:
Net unrealized holding gains (losses) on cash flow hedges, net of taxes of $732, $8,258, and $(294), respectively	(1,835)	(20,717)	736
Reclassification adjustment for realized (gains) losses on cash flow hedges included in net income, net of taxes of $(2,443), $(166), and $(304), respectively	6,126	417	763
Net change in unrealized gains (losses) on cash flow hedges	4,291	(20,300)	1,499
Net change in AOCI	54,475	(249,520)	(57,067)
Total comprehensive income (loss)	$ 177,040	$ (121,209)	$ 66,382

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent
Net unrealized holding gains (losses) on debt securities available for sale, tax expense (benefit)	$ 16,674	$ (79,460)	$ (23,367)
Net unrealized gains (losses) on debt securities transferred to held to maturity from available for sale, tax expense (benefit)	0	(13,812)	0
Reclassification adjustment for realized (gains) losses on debt securities available for sale included in net income, tax expense (benefit)	(1,569)	7	(17)
Amortization of unrealized losses on securities transferred to held to maturity, tax expense (benefit)	(1,763)	(1,893)	0
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent
Net unrealized holding gains (losses) on cash flow hedges, tax expense (benefit)	(732)	(8,258)	294
Reclassification adjustment for realized (gains) losses on cash flow hedges included in net income, tax expense (benefit)	$ (2,443)	$ (166)	$ (304)

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	AOCI	Treasury Stock
Beginning balance (in shares) at Dec. 31, 2020		54,404,379
Beginning balance at Dec. 31, 2020	$ 1,270,069	$ 56	$ 1,253,360	$ 20,830	$ 33,309	$ (37,486)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	123,449			123,449
OCI, net of tax	(57,067)				(57,067)
Stock issued in acquisition, net of stock issuance costs (in shares)		2,206,237
Stock issued in acquisition, net of stock issuance costs	58,955	$ 2	58,953
Repurchase of stock (in shares)		(1,323,000)
Repurchase of stock	(33,043)					(33,043)
Issuance of treasury stock (in shares)		30,390
Issuance of treasury stock	646		(136)			782
Net issuance of treasury stock for RSU/DSU vesting and related tax (in shares)		116,904
Net issuance of treasury stock for RSU/PSU/DSU vesting and related tax	(997)		(4,109)			3,112
Cash dividends common stock	(50,764)			(50,764)
Stock dividend equivalents RSUs	0		1,052	(1,052)
Stock-based compensation	7,864		7,864
Ending balance (in shares) at Dec. 31, 2021		55,434,910
Ending balance at Dec. 31, 2021	1,319,112	$ 58	1,316,984	92,463	(23,758)	(66,635)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	128,311			128,311
OCI, net of tax	(249,520)				(249,520)
Repurchase of stock (in shares)		(388,614)
Repurchase of stock	(9,912)					(9,912)
Issuance of treasury stock (in shares)		57,385
Issuance of treasury stock	1,157		(320)			1,477
Net issuance of treasury stock for RSU/DSU vesting and related tax (in shares)		175,225
Net issuance of treasury stock for RSU/PSU/DSU vesting and related tax	(1,276)		(5,789)			4,513
Issuance of treasury stock for stock options exercised, net of shares redeemed and related tax (in shares)		218
Issuance of treasury stock for stock options exercised, net of shares redeemed and related tax	0		(5)			5
Cash dividends common stock	(50,863)			(50,863)
Stock dividend equivalents RSUs	0		1,142	(1,142)
Stock-based compensation	8,968		8,968
Ending balance (in shares) at Dec. 31, 2022		55,279,124
Ending balance at Dec. 31, 2022	1,145,977	$ 58	1,320,980	168,769	(273,278)	(70,552)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	122,565			122,565
OCI, net of tax	54,475				54,475
Repurchase of stock (in shares)		(227,935)
Repurchase of stock	(4,482)					(4,482)
Issuance of treasury stock (in shares)		59,845
Issuance of treasury stock	1,011		(530)			1,541
Net issuance of treasury stock for RSU/DSU vesting and related tax (in shares)		132,091
Net issuance of treasury stock for RSU/PSU/DSU vesting and related tax	(1,093)		(4,494)			3,401
Net issuance of treasury stock for warrants exercised (in shares)		994
Net issuance of treasury stock for warrants exercised	9		(17)			26
Cash dividends common stock	(53,076)			(53,076)
Stock dividend equivalents RSUs	0		1,061	(1,061)
Stock-based compensation	6,595		6,595
Ending balance (in shares) at Dec. 31, 2023		55,244,119
Ending balance at Dec. 31, 2023	$ 1,271,981	$ 58	$ 1,323,595	$ 237,197	$ (218,803)	$ (70,066)

CONSOLIDATED STATEMENTS OF ST_2

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Stockholders' Equity [Abstract]
Cash dividends, common stock (in dollars per share)	$ 0.96	$ 0.92	$ 0.92

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows provided by (used in) operating activities
Net income	$ 122,565	$ 128,311	$ 123,449
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Provision for credit losses	2,399	4,623	(15,101)
Amortization of intangible assets	10,432	11,628	11,274
Amortization of mortgage servicing rights	2,785	3,540	5,292
Amortization of NMTC	8,999	6,333	5,563
Depreciation and amortization of premises and equipment	9,488	10,482	11,610
Net amortization (accretion) on portfolio loans	6,971	3,932	(11,545)
Net amortization (accretion) of premium (discount) on investment securities	14,406	20,799	24,251
Net amortization (accretion) of premium (discount) on time deposits	(270)	(403)	(1,142)
Net amortization (accretion) of premium (discount) on FHLB advances and other borrowings	1,027	1,400	826
Impairment of OREO and other repossessed assets	100	611	1
Impairment of fixed assets held for sale	0	427	3,227
Impairment of mortgage servicing rights	1	(8)	(639)
Impairment of leases	0	84	0
Unrealized (gains) losses recognized on equity securities, net	2,171	2,183	(3,041)
(Gain) loss on sales of equity securities, net	(5,475)	(24)	0
(Gain) loss on sales of debt securities, net	5,503	(26)	(29)
(Gain) loss on sales of loans, net	(733)	(1,944)	(9,323)
(Gain) loss on sales of OREO and other repossessed assets	(46)	54	174
(Gain) loss on sales of premises and equipment	(450)	(825)	(1,023)
(Gain) loss on life insurance proceeds	(759)	0	(1,257)
(Increase) decrease in cash surrender value of bank owned life insurance	(3,942)	(3,663)	(3,909)
Provision for deferred income taxes	(2,920)	(1,272)	4,665
Stock-based compensation	6,595	8,968	7,864
Mortgage loans originated for sale	(35,413)	(70,953)	(274,356)
Proceeds from sales of mortgage loans	35,018	95,289	306,074
(Increase) decrease in other assets	(17,888)	(56,284)	7,203
Increase (decrease) in other liabilities	12,826	2,633	(28,096)
Net cash provided by (used in) operating activities	173,390	165,895	162,012
Cash flows provided by (used in) investing activities
Purchases of equity securities	(6,617)	(14,820)	(11,017)
Purchases of debt securities available for sale	(10,436)	(280,083)	(2,298,055)
Proceeds from sales of equity securities	11,644	15,418	7,254
Proceeds from sales of debt securities available for sale	105,044	0	290,955
Proceeds from paydowns and maturities of debt securities held to maturity	48,927	70,116	0
Proceeds from paydowns and maturities of debt securities available for sale	326,252	470,134	868,083
Purchases of FHLB and other bank stock	(30,957)	(12,969)	0
Proceeds from the redemption of FHLB and other bank stock	43,926	225	0
Net cash received in (paid for) acquisitions	0	0	228,279
Net (increase) decrease in loans	65,240	(541,713)	76,826
Cash paid for premiums on bank-owned life insurance	(80)	(106)	(124)
Proceeds from life insurance	2,292	219	4,755
Purchases of premises and equipment	(9,533)	(4,989)	(5,042)
Proceeds from disposition of premises and equipment	4,425	4,528	7,306
Proceeds from sales of OREO and other repossessed assets, including cash payments collected	860	3,076	1,590
Net cash provided by (used in) investing activities	550,987	(290,964)	(829,190)
Cash flows provided by (used in) financing activities
Net increase (decrease) in deposits	220,146	(696,894)	767,474
Net increase (decrease) in federal funds purchased and securities sold under agreements to repurchase	(42,410)	(40,333)	77,874
Net increase (decrease) in short-term borrowings	(335,000)	330,000	1,000
Proceeds from other borrowings, net of debt issuance costs	0	98,094	72,500
Repayment of other borrowings	(16,054)	(112,678)	(19,158)
Cash dividends paid	(53,076)	(50,863)	(50,764)
Purchase of treasury stock	(4,482)	(9,912)	(33,043)
Cash paid for withholding taxes on stock-based payments	(1,093)	(1,276)	(997)
Proceeds from stock warrants exercised	9	0	0
Common stock issuance costs	0	0	(150)
Net cash provided by (used in) financing activities	(231,960)	(483,862)	814,736
Net increase (decrease) in cash and cash equivalents	492,417	(608,931)	147,558
Cash and cash equivalents, beginning of period	227,164	836,095	688,537
Cash and cash equivalents, ending of period	719,581	227,164	836,095
Cash payments for:
Interest	135,482	35,297	25,374
Income taxes	25,408	30,676	22,487
Non-cash investing and financing activities:
OREO acquired in settlement of loans	189	175	1,610
Transfer of loans held for sale to portfolio loans	0	0	(4,808)
Transfer of debt securities available for sale to held to maturity	$ 0	$ 985,199	$ 0

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	NOTE 1. SIGNIFICANT ACCOUNTING POLICIES Nature of Operations First Busey Corporation is a financial holding company organized under the laws of Nevada. First Busey Corporation’s subsidiaries provide retail and commercial banking services and payment technology solutions, and offer a full range of financial products and services including depository, lending, security brokerage, investment management, and fiduciary services, to individual, corporate, institutional, and governmental customers through their locations in Illinois, Missouri, southwest Florida and Indianapolis, Indiana. First Busey Corporation and its subsidiaries are subject to the regulations of certain regulatory agencies and undergo periodic examinations by those regulatory agencies. Significant accounting and reporting policies for First Busey Corporation and its subsidiaries follow: Principles of Consolidation Busey’s Consolidated Financial Statements include the accounts of First Busey Corporation and its subsidiaries, which include First Busey Risk Management (dissolved December 18, 2023), Deed of Trust Services Corporation, and Busey Bank, including Busey Bank’s wholly-owned subsidiaries FirsTech, Pulaski Service Corporation, and Busey Capital Management, Inc. Operating results generated from acquired businesses are included with Busey’s results of operations starting from each date of acquisition. First Busey Corporation and its subsidiaries maintain various limited liability companies that hold specific assets for risk mitigation purposes and are consolidated into Busey’s Consolidated Financial Statements . Intercompany balances and transactions have been eliminated in consolidation. Because Busey is not the primary beneficiary, the Consolidated Financial Statements exclude the following wholly-owned variable interest entities: First Busey Statutory Trust II, First Busey Statutory Trust III, First Busey Statutory Trust IV, Pulaski Financial Statutory Trust I, and Pulaski Financial Statutory Trust II. Use of Estimates In preparing the accompanying Consolidated Financial Statements in conformity with GAAP, Busey’s management is required to make estimates and assumptions that affect the amounts reported in the Consolidated Financial Statements and the disclosures provided. Actual results could differ from those estimates. Material estimates which are particularly susceptible to significant change in the near-term relate to the fair value of debt securities available for sale, fair value of assets acquired and liabilities assumed in business combinations, goodwill, income taxes, and the determination of the ACL. Comprehensive Income (Loss) Accounting principles generally require that recognized revenue, expenses, gains, and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available for sale debt securities and unrealized gains and losses on cash flow hedges, are reported net of taxes as a separate component within the equity section of the balance sheet, such items, along with net income, are components of comprehensive income (loss). Trust Assets Assets held for customers in a fiduciary or agency capacity, other than trust cash on deposit at Busey Bank, are not Busey’s assets and, accordingly, are not included in the accompanying Consolidated Financial Statements . Busey had assets under care of $12.1 billion at December 31, 2023, and $11.1 billion at December 31, 2022. Cash and Cash Equivalents Cash and cash equivalents include cash on hand, cash items in process of collection, amounts due from other banks, interest-bearing deposits held with other financial institutions, and federal funds sold. The carrying amount of these instruments is considered a reasonable estimate of fair value. Busey maintains its cash in deposit accounts, the balance of which, at times, may exceed federally insured limits. Busey has not experienced any losses in such accounts. Management believes Busey is not exposed to any significant credit risk on cash and cash equivalents. Securities Debt Securities Available for Sale Debt securities classified as available for sale are those debt securities that Busey intends to hold for an indefinite period of time, but not necessarily to maturity. Any decision to sell a security classified as available for sale would be based on factors including significant movements in interest rates, changes in the maturity mix of Busey's assets and liabilities, liquidity needs, regulatory capital considerations, and other similar factors. Debt securities available for sale are carried at fair value, with unrealized gains and losses reported in OCI, net of taxes. Purchase premiums and discounts are recognized in interest income using the interest method over the terms of the securities. The amortization period for certain callable debt securities held at a premium are amortized to the earliest call date, while discounts on debt securities are amortized to maturity. Gains and losses on the sale of debt securities available for sale are recorded on the trade date and are determined using the specific identification method. Debt securities available for sale are not within the scope of the current expected credit losses methodology, however, the accounting for credit losses on these securities is affected by ASC Subtopic 326-30 “Financial Instruments-Credit Losses—Available-for-Sale Debt Securities.” A debt security available for sale is impaired if the fair value of the security declines below its amortized cost basis. To determine the appropriate accounting, Busey must first determine if it intends to sell the security or if it is more likely than not that it will be required to sell the security before the fair value increases to at least the amortized cost basis. If either of those selling events is expected, Busey will write down the amortized cost basis of the security to its fair value. This is achieved by writing off any previously recorded allowance, if applicable, and recognizing any incremental impairment through earnings. If Busey neither intends to sell the security nor believes it is more likely than not that the Company will be required to sell the security before the fair value recovers to the amortized cost basis, Busey must determine whether any of the decline in fair value has resulted from a credit loss, or if it is entirely the result of noncredit factors. Busey considers the following factors in assessing whether the decline is due to a credit loss: • Extent to which the fair value is less than the amortized cost basis; • Adverse conditions specifically related to the security, an industry, or a geographic area (for example, changes in the financial condition of the issuer of the security, or in the case of an asset-backed debt security, in the financial condition of the underlying loan obligors); • Payment structure of the debt security and the likelihood of the issuer being able to make payments that increase in the future; • Failure of the issuer of the security to make scheduled interest or principal payments; and • Any changes to the rating of the security by a rating agency. Impairment related to a credit loss must be measured using the discounted cash flow method. Credit loss recognition is limited to the fair value of the security. Impairment is recognized by establishing an allowance for the debt security through the provision for credit losses. Impairment related to noncredit factors is recognized in AOCI, net of applicable taxes. Busey did not recognize any credit impairment in 2023, 2022, or 2021. Debt Securities Held to Maturity Debt securities classified as held to maturity are those debt securities that Busey has the intent and ability to hold to maturity and are carried at amortized cost. In 2022, Busey elected to transfer a portion of the agency mortgage-backed securities portfolio from available for sale to held to maturity. While held to maturity securities are within the scope of CECL, the standard allows for an assumption of zero credit losses when the expectation of non-payment is zero. The risk related to mortgage-backed securities issued and/or guaranteed by U.S. government agencies or U.S. government-sponsored enterprises is considered low, therefore requiring no allowance to be recorded. Accrued interest receivable for debt securities totaled $13.6 million at December 31, 2023, and is excluded from the estimate of credit losses. Accrued interest receivable is reported in other assets on the Consolidated Balance Sheets . Equity Securities Equity securities are carried at fair value with changes in fair value recognized in earnings. Loans Held for Sale Loans held for sale include mortgage loans which Busey intends to sell to investors and/or the secondary mortgage market. Busey accounts for loans held for sale at LOCOM. Loans held for sale are carried at amortized historical cost less loan write-offs and downward fair value adjustments, as may be applicable. Net unrealized losses, if any, are recognized through a valuation allowance by charges to income. Gains and losses on sales of loans are recognized at settlement dates and are determined by the difference between the sales proceeds and the carrying amount, net of the value of any servicing assets for loans that were sold with servicing rights retained. Loan Servicing Servicing assets are recognized when servicing rights are acquired or retained through the sale of mortgage and government-guaranteed commercial loans. The unpaid principal balances of loans serviced by Busey for the benefit of others totaled $1.5 billion as of December 31, 2023, and $1.7 billion as of December 31, 2022, and are not included in the accompanying Consolidated Balance Sheets . Servicing rights are initially recorded at fair value, which is determined using a valuation model that calculates the present value of estimated future net servicing income. Capitalized servicing rights are reported in other assets and are amortized into noninterest income in proportion to, and over the period of, the estimated future net servicing income of the underlying financial assets. The amortization of mortgage servicing rights is included in mortgage revenue. The amortization of government-guaranteed commercial loans is included in other income. Servicing rights are periodically evaluated for impairment based on the fair value of those rights as compared to book value. Fair values are estimated using discounted cash flows based on expected prepayment rates and other inputs. For purposes of measuring impairment, servicing rights are stratified by one or more predominant characteristics of the underlying loans. A valuation allowance is recognized in the amount by which the amortized cost of the rights for each stratum exceeds its fair value, if any. If Busey later determines that all or a portion of the impairment no longer exists for a particular group of loans, a reversal of the allowance may be recorded in current period earnings. Busey had an immaterial amount of impairment recorded at December 31, 2023 and 2022. Servicing fee income is recorded for fees earned for servicing loans. The fees are based on a contractual percentage of the outstanding principal and are recorded as income when earned. Portfolio Loans Loans that management has the intent and ability to hold for the foreseeable future, or until maturity or pay-off, are reported at the principal balance outstanding, net of purchase premiums and discounts, deferred origination fees and costs, charge-offs, and the ACL. Loan origination fees, net of certain direct loan origination costs, are deferred and the net amount is amortized as an adjustment of the related loan’s yield. Busey amortizes the net amount over the contractual life of the related loan. Interest income is accrued daily on outstanding loan balances. Loans are placed on non-accrual status when, in management’s opinion, the borrower may be unable to meet payment obligations as they become due, as well as when required by regulatory provisions. Loans may be placed on non-accrual status regardless of whether or not such loans are considered past due. Past due status is based on the contractual terms of the loan. Interest accrued but not collected for loans that are charged-off or placed on non-accrual status is reversed against interest income. The interest on non-accrual loans is accounted for on the cost-recovery method, until returned to accrual status. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. PPP Loans Busey had $0.3 million in PPP loans outstanding as of December 31, 2023. In comparison, Busey had $0.9 million in PPP loans outstanding as of December 31, 2022, with an amortized cost of $0.8 million. Busey received an immaterial amount of fees related to these loans for the year ended December 31, 2023, and received fees totaling $2.5 million and $20.1 million for the years ended December 31, 2022, and 2021, respectively. Incremental direct origination costs Busey incurred were immaterial for the year ended December 31, 2023, and were $0.6 million and $4.2 million for the years ended December 31, 2022, and 2021, respectively. Both the fees received and the origination costs were deferred and are amortized over the contractual life of these loans, subject to prepayment. Busey recognized an immaterial amount in net interest income for fees, net of deferred cost, during the year ended December 31, 2023, and recognized $1.9 million and $14.0 million during the years ended December 31, 2022, and 2021, respectively. As of December 31, 2023, the remaining amount of fees to be recognized, net of deferred costs, was immaterial. PPP loans contain a forgiveness feature for funds spent on covered expenses, including both principal and accrued interest. Any remaining balance after loan forgiveness maintains a 100% government guarantee for the remaining term of the loan. Loan Modifications On January 1, 2023, Busey adopted ASU 2022-02 “Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures,” which eliminated the TDR accounting model for creditors that have already adopted CECL. In lieu of the TDR accounting model, loan refinancing and restructuring guidance in ASC Subtopic 310-20-35-9 through 35-11 “Receivables—Nonrefundable Fees and Other Costs—Subsequent Measurement—Loan Refinancing or Restructuring” will apply to all loan modifications, including those made for borrowers experiencing financial difficulty. This standard also enhances disclosure requirements related to certain loan modifications. Assets Purchased with Credit Deterioration On January 1, 2020, Busey adopted ASC Topic 326 “Financial Instruments-Credit Losses” using the prospective transition approach for financial assets PCD that were previously classified as PCI and accounted for under ASC Subtopic 310-30 “Receivables—Loans and Debt Securities Acquired with Deteriorated Credit Quality.” In accordance with the standard, management did not reassess whether PCI assets met the criteria of PCD assets as of the date of adoption. In accordance with ASC Topic 326, the amortized cost basis of PCD assets were adjusted to reflect an ACL for any remaining credit discount. Subsequent changes in expected cash flows will be adjusted through the ACL. The noncredit discount will be accreted into interest income using the January 1, 2020, effective interest rate. Subsequent to the adoption of ASC Topic 326, acquired loans are separated into two categories based on the credit risk characteristics of the underlying borrowers as either PCD, for loans which have experienced more than insignificant credit deterioration since origination, or all other loans. At the date of acquisition, an ACL on PCD loans is determined and netted against the amortized cost basis of the individual loans. The difference between the initial amortized cost basis and the par value of the loan is a noncredit discount or premium, which is amortized into interest income over the life of the loan. The ACL on PCD loans is recorded in the acquisition accounting and no provision for credit losses is recognized at the acquisition date. Subsequent changes to the ACL are recorded through provision expense. For all other loans, an ACL is established immediately after the acquisition through a charge to the provision for credit losses. Allowance for Credit Losses The ACL is a significant estimate in Busey’s Consolidated Financial Statements , affecting both earnings and capital. The ACL is a valuation account that is deducted from the portfolio loans’ amortized cost bases to present the net amount expected to be collected on the portfolio loans. Portfolio loans are charged off against the ACL when management believes the uncollectibility of a loan balance is confirmed. Recoveries will be recognized up to the aggregate amount of previously charged-off balances. The ACL is established through the provision for credit loss charged to income. A loan’s amortized cost basis is comprised of the unpaid principal balance of the loan, accrued interest receivable, purchase premiums or discounts, and net deferred origination fees or costs. Busey has estimated its allowance on the amortized cost basis, exclusive of government guaranteed loans and accrued interest receivable. Busey writes-off uncollectible accrued interest receivable in a timely manner and has elected to not measure an allowance for accrued interest receivable. Busey presents the aggregate amount of accrued interest receivable for all financial instruments in other assets on the Consolidated Balance Sheets and the balance of accrued interest receivable is disclosed in “ Note 18. Fair Value Measurements. ” Our methodology influences, and is influenced by, Busey’s overall credit risk management processes. The ACL is managed in accordance with GAAP to provide an adequate reserve for expected credit losses that is reflective of management’s best estimate of what is expected to be collected. The ACL must be determined on a collective (pool) basis when similar risk characteristics exist. On a case-by-case basis, we may conclude a loan should be evaluated on an individual basis based on disparate risk characteristics. The measurement of expected credit losses is based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the amortized cost basis. Adjustments to historical loss information are made for differences in current loan-specific risk characteristics such as differences in underwriting standards, portfolio mix, delinquency level, or term as well as for changes in environmental conditions such as changes in unemployment rates, property values, and other relevant factors. The calculation also contemplates that Busey may not be able to make or obtain such forecasts for the entire life of the financial assets and requires a reversion to historical credit loss information. Due to the continued economic uncertainty in the markets in which the Company operates, Busey will continue to utilize a forecast period of 12 months with an immediate reversion to historical loss rates beyond this forecast period in its ACL estimate. Ongoing impacts of CECL will be dependent upon changes in economic conditions and forecasts, originated and acquired loan portfolio composition, prepayment speeds, credit performance trends, portfolio duration, and other factors. Premises and Equipment Land is carried at cost less accumulated depreciation of depreciable land improvements. Premises and equipment are stated at cost less accumulated depreciation. Depreciation is computed by the straight-line method over the estimated useful lives of the assets. The estimated useful lives for premises and equipment are: Asset Description Estimated Useful Life Buildings and improvements 3 — 40 years Furniture and equipment 3 — 10 years Leases A determination is made at inception if an arrangement contains a lease. For arrangements containing leases, Busey recognizes leases on the Consolidated Balance Sheets as right of use assets and corresponding lease liabilities. Lease-related assets, or right of use assets, are recognized on the lease commencement date at amounts equal to the respective lease liabilities, adjusted for prepaid lease payments, initial direct costs, and lease incentives received. Lease-related liabilities are recognized at the present value of the remaining contractual fixed lease payments, discounted using our incremental borrowing rate. Busey’s lease agreements often include one or more options to renew at Busey’s discretion. When Busey considers the exercise of a renewal option to be reasonably certain, that renewal term is included in the calculation of the right of use asset and lease liability. Operating lease expense is recognized on a straight-line basis over the lease term, including any renewal terms available through options to renew that Busey is reasonably certain to exercise. Variable lease payments are expensed as incurred. ASC Topic 842 “Leases” requires the use of the rate implicit in the lease whenever this rate is readily determinable. If not readily determinable, Busey uses its incremental borrowing rate at lease inception, on a collateralized basis, over a similar term. For operating leases existing prior to Busey’s adoption of ASC Topic 842 on January 1, 2019, Busey used a borrowing rate that corresponded to the lease term remaining as of the date of adoption of ASC Topic 842. Long-Lived Assets Long-lived assets, including premises and equipment, right of use assets, and intangible assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. An impairment loss is recognized when estimated undiscounted future cash flows from operations of the asset are less than the carrying value of the asset. Cash flows used for this analysis are those directly associated with, and that are expected to arise as a direct result of, the use and eventual disposition of the asset. Any impairment loss is measured as the amount by which the carrying value of the asset exceeds its fair value. Other Real Estate Owned and Other Repossessed Assets OREO and other repossessed assets represent properties and other assets acquired through foreclosure or other proceedings in settlement of loans. OREO and other repossessed assets are recorded at the fair value of the property or asset, less estimated costs of disposal, which establishes a new cost basis. Any adjustment to fair value at the time of transfer to OREO or other repossessed assets is charged to the ACL. OREO property and other repossessed assets are evaluated regularly to ensure the recorded amount is supported by its current fair value; write downs or valuation allowances to reduce the carrying amount to fair value less estimated costs to dispose are recorded, as necessary. OREO and other repossessed assets are included in other assets on the Consolidated Balance Sheets . Revenue, expense, gains, and losses from the operations of foreclosed assets are included in earnings. Goodwill and Other Intangibles Goodwill represents the excess of consideration transferred in a business combination over the fair value of the net assets acquired. Goodwill is not amortized but is subject to at least annual impairment assessments. Busey has established December 31 as the annual impairment assessment date. As part of this analysis, each reporting unit's carrying value is compared to its fair value. Busey estimates the fair value of its reporting units as of the measurement date utilizing valuation methodologies including comparable company analysis and precedent transaction analysis. Goodwill is considered impaired if the carrying value of the reporting unit exceeds its fair value. There was no impairment as of December 31, 2023, or 2022. See “ Note 7. Goodwill and Other Intangible Assets ” for further discussion. Other intangible assets consist of core deposit and acquired customer relationship intangible assets arising from acquisitions. Other intangible assets are amortized over their estimated useful lives. Cash Surrender Value of Bank Owned Life Insurance Busey has purchased, or acquired through acquisitions, life insurance policies on certain executives and senior officers. Life insurance is recorded at its cash surrender value, which approximates its fair value. Busey maintains a liability for post-employment benefits related to split-dollar life insurance arrangements. In an endorsement split-dollar life insurance arrangement, the employer owns and controls the policy, and the employer and employee split the life insurance policy’s cash surrender value and/or death benefits. If the employer agrees to maintain a life insurance policy during the employee’s retirement, the present value of the cost of maintaining the insurance policy is accrued over the employee’s active service period. Similarly, if the employer agrees to provide the employee with a death benefit, the present value of the death benefit is accrued over the employee’s active service period. Busey accrued liabilities for these arrangements totaling $5.6 million as of both December 31, 2023, and 2022. Liabilities for post-employment benefits are included in other liabilities on the Consolidated Balance Sheets . FHLB Stock Busey Bank is a member of the FHLB system. FHLB members are required to own a certain amount of stock based on the level of borrowings and other factors, and may invest in additional amounts. FHLB stock is carried at cost in other assets in our Consolidated Balance Sheet . Dividends are reported as income. Busey Bank's investment in FHLB stock was $6.0 million as of December 31, 2023, and $19.0 million as of December 31, 2022. Other Asset Investments Busey has invested in certain tax-advantaged projects promoting affordable housing, new markets, and historic rehabilitation. These investments are designed to generate returns primarily though the realization of federal and state income tax credits and other tax benefits, such as tax deductions from operating losses of the investments, over specified time periods. These investments are considered to be variable interest entities, and are accounted for under the equity, deferral, or proportional amortization practical expedient methods, as appropriate. Busey is not required to consolidate variable interest entities in which it has concluded it does not have a controlling financial interest, and is not the primary beneficiary. Busey’s maximum exposure to loss related to its investments in these unconsolidated variable interest entities is limited to the carrying amount of the investment, net of any unfunded capital commitments and previously recorded tax credits which remain subject to recapture by taxing authorities based on compliance features required to be met at the project level. Busey believes potential losses from these investments are remote. In addition, Busey has private equity investments, which are primarily in funds that invest in small businesses across diverse sectors including, but not limited to, financial technology, business services, manufacturing, agribusiness, healthcare, software as a service, and environmental, or supporting the preservation of affordable housing. The following table summarizes the impact of Busey’s other asset investments on the Company’s Consolidated Balance Sheets for the periods indicated (dollars in thousands) : As of December 31, Location 2023 2022 Other asset investments Funded investments Other assets $ 68,516 $ 58,912 Unfunded investments Other assets 58,552 67,437 Other asset investments $ 127,068 $ 126,349 Unfunded investment obligations Other liabilities $ 58,552 $ 67,437 During 2023, Busey sold all 16,878 shares of Visa Class B common shares it previously held for a pre-tax gain of approximately $5.5 million. Transfers of Financial Assets Transfers of financial assets are accounted for as sales only when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when: (1) the assets have been isolated from Busey’s assets, (2) the transferee obtains the right to pledge or exchange the assets it receives, and no condition both constrains the transferee from taking advantage of its right to pledge or exchange and provides more than a trivial benefit to the transferor, and (3) Busey does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity or the ability to unilaterally cause the holder to return specific assets. Income Taxes Busey is subject to income taxes in U.S. federal and various state jurisdictions. First Busey Corporation and its subsidiaries file consolidated federal and state income tax returns with each subsidiary computing its taxes on a separate entity basis. Tax regulations within each jurisdiction are subject to the interpretation of the related tax laws and regulations and require significant judgment to apply. Busey is no longer subject to U.S. federal, state, or local income tax examinations by tax authorities for the years before 2020. Under GAAP, a valuation allowance is required to be recognized if it is more likely than not that the deferred tax assets will not be realized. The determination of the recoverability of the deferred tax assets is highly subjective and dependent upon judgment concerning management’s evaluation of both positive and negative evidence, the forecasts of future income, applicable tax planning strategies, and assessments of current and future economic and business conditions. Management believes that it is more likely than not that the deferred tax assets included in the accompanying Consolidated Financial Statements will be fully realized. Busey determined that no valuation allowance was required as of December 31, 2023, or 2022. Positions taken in tax returns may be subject to challenge upon examination by the taxing authorities. Uncertain tax positions are initially recognized in the Consolidated Financial Statements when it is more likely than not the position will not be sustained upon examination by the tax authorities. Such tax positions are both initially and subsequently measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon settlement with the tax authority, assuming full knowledge of the position and all relevant facts. When applicable, Busey recognizes interest accrued related to unrecognized tax benefits and penalties in operating expenses. Busey had no accruals for payments of interest and penalties at December 31, 2023, or 2022. At December 31, 2023, Busey was not under any income tax examination by any income tax authority. Treasury Stock Treasury stock acquired is recorded at cost. Treasury stock issued is valued based on the “first-in, first-out” method. Gains and losses on issuance are recorded as increases or decreases to additional paid-in capital. Stock-Based Employee Compensation Busey’s equity incentive plans are designed to encourage ownership of its common stock by its employees and directors, to provide additional incentive for them to promote the success of Busey’s business, and to attract and retain talented personnel. All of Busey’s employees and directors and those of its subsidiaries are eligible to receive awards under the plans. 2020 Equity Plan The 2020 Equity Plan was originally approved by stockholders at the 2020 Annual Meeting of Stockholders. A description of the 2020 Equity Plan, as originally approved, can be found in Appendix A within Busey’s Proxy Statement for the 2020 Annual Meeting of Stockholders filed on April 9, 2020 . Upon the 2020 Equity Plan’s original approval, it replaced the 2010 Equity Incentive Plan and the First Community 2016 Equity Incentive Plan, which, from time to time, Busey used to grant equity awards to legacy employees of First Community. Under the terms of the 2020 Equity Plan, Busey has granted RSU, DSU, and PSU awards. An amendment to and restatement of the 2020 Equity Plan was approved by stockholders at the 2023 Annual Meeting of Stockholders. The terms of the amended and restated 2020 Equity Plan are substantially identical to those of the originally approved 2020 Equity Plan, other than a 1,350,000 increase in the number of shares authorized for issuance under the plan. More information can be found in Appendix A w

DEBT SECURITIES

DEBT SECURITIES	12 Months Ended
	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
DEBT SECURITIES	NOTE 2. DEBT SECURITIES Busey's portfolio of debt securities includes both available for sale and held to maturity securities. The tables below provides the amortized cost, unrealized and unrecognized gains and losses, and fair values of debt securities, summarized by major category (dollars in thousands) : As of December 31, 2023 Amortized Unrealized Fair Gross Gains Gross Losses Debt securities available for sale U.S. Treasury securities $ 16,031 $ — $ (85) $ 15,946 Obligations of U.S. government corporations and agencies 5,889 1 (58) 5,832 Obligations of states and political subdivisions 1 190,819 52 (18,026) 172,845 Asset-backed securities 470,046 — (1,823) 468,223 Commercial mortgage-backed securities 119,044 — (15,535) 103,509 Residential mortgage-backed securities 1,306,854 5 (195,547) 1,111,312 Corporate debt securities 225,947 128 (16,171) 209,904 Total debt securities available for sale $ 2,334,630 $ 186 $ (247,245) $ 2,087,571 Amortized Unrecognized Fair Gross Gains Gross Losses Debt securities held to maturity Commercial mortgage-backed securities $ 428,526 $ — $ (71,000) $ 357,526 Residential mortgage-backed securities 444,102 — (71,231) 372,871 Total debt securities held to maturity $ 872,628 $ — $ (142,231) $ 730,397 ___________________________________________ 1. Includes securities marked at par, with no gain or loss to report. As of December 31, 2022 Amortized Unrealized Fair Gross Gains Gross Losses Debt securities available for sale U.S. Treasury securities $ 117,805 $ — $ (3,744) $ 114,061 Obligations of U.S. government corporations and agencies 20,097 3 (321) 19,779 Obligations of states and political subdivisions 283,481 106 (26,075) 257,512 Asset-backed securities 489,558 — (19,683) 469,875 Commercial mortgage-backed securities 124,423 — (16,029) 108,394 Residential mortgage-backed securities 1,463,971 2 (220,717) 1,243,256 Corporate debt securities 273,118 33 (24,635) 248,516 Total debt securities available for sale $ 2,772,453 $ 144 $ (311,204) $ 2,461,393 Amortized Unrecognized Fair Gross Gains Gross Losses Debt securities held to maturity Commercial mortgage-backed securities $ 474,820 $ — $ (63,738) $ 411,082 Residential mortgage-backed securities 443,492 — (69,279) 374,213 Total debt securities held to maturity $ 918,312 $ — $ (133,017) $ 785,295 Amortized cost and fair value of debt securities, by contractual maturity or pre-refunded date, are shown below. Mortgages underlying mortgage-backed securities and asset-backed securities may be called or prepaid; therefore, actual maturities could differ from the contractual maturities. All mortgage-backed securities were issued by U.S. government corporations and agencies (dollars in thousands) : As of December 31, 2023 Amortized Fair Debt securities available for sale Due in one year or less $ 71,960 $ 71,429 Due after one year through five years 244,231 230,299 Due after five years through ten years 418,655 388,864 Due after ten years 1,599,784 1,396,979 Debt securities available for sale $ 2,334,630 $ 2,087,571 Debt securities held to maturity Due after one year through five years $ 73,943 $ 69,373 Due after five years through ten years 28,489 25,824 Due after ten years 770,196 635,200 Debt securities held to maturity $ 872,628 $ 730,397 Realized gains and losses related to sales and calls of debt securities available for sale are summarized as follows (dollars in thousands) : Years Ended December 31, 2023 2022 2021 Realized gains and losses on debt securities Gross gains on debt securities $ 20 $ 115 $ 543 Gross (losses) on debt securities (5,523) (89) (514) Realized net gains (losses) on debt securities 1 $ (5,503) $ 26 $ 29 ___________________________________________ 1. Net gains (losses) on sales of securities reported on the Consolidated Statements of Income include the sale of equity securities, excluded in this table. Debt securities with carrying amounts of $837.4 million on December 31, 2023, and $746.7 million on December 31, 2022, were pledged as collateral for public deposits, securities sold under agreements to repurchase, and for other purposes as required. The following information pertains to debt securities with gross unrealized or unrecognized losses, aggregated by investment category and the length of time that individual securities have been in a continuous loss position (dollars in thousands) : As of December 31, 2023 Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized Debt securities available for sale U.S. Treasury securities $ — $ — $ 15,946 $ (85) $ 15,946 $ (85) Obligations of U.S. government corporations and agencies — — 5,709 (58) 5,709 (58) Obligations of states and political subdivisions 11,442 (54) 146,797 (17,972) 158,239 (18,026) Asset-backed securities — — 468,223 (1,823) 468,223 (1,823) Commercial mortgage-backed securities — — 103,509 (15,535) 103,509 (15,535) Residential mortgage-backed securities 141 (1) 1,110,906 (195,546) 1,111,047 (195,547) Corporate debt securities 1,450 (10) 198,694 (16,161) 200,144 (16,171) Debt securities available for sale with gross unrealized losses $ 13,033 $ (65) $ 2,049,784 $ (247,180) $ 2,062,817 $ (247,245) 12 months or more Total Fair Unrecognized Fair Unrecognized Debt securities held to maturity Commercial mortgage-backed securities $ 357,526 $ (71,000) $ 357,526 $ (71,000) Residential mortgage-backed securities 372,871 (71,231) 372,871 (71,231) Debt securities held to maturity with gross unrecognized losses $ 730,397 $ (142,231) $ 730,397 $ (142,231) As of December 31, 2022 Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized Debt securities available for sale U.S. Treasury securities 1 $ 74 $ — $ 113,987 $ (3,744) $ 114,061 $ (3,744) Obligations of U.S. government corporations and agencies 19,603 (321) — — 19,603 (321) Obligations of states and political subdivisions 166,147 (10,059) 75,217 (16,016) 241,364 (26,075) Asset-backed securities 390,164 (15,648) 79,711 (4,035) 469,875 (19,683) Commercial mortgage-backed securities 89,428 (12,623) 18,966 (3,406) 108,394 (16,029) Residential mortgage-backed securities 366,221 (38,111) 876,668 (182,606) 1,242,889 (220,717) Corporate debt securities 39,037 (5,079) 204,310 (19,556) 243,347 (24,635) Debt securities available for sale with gross unrealized losses $ 1,070,674 $ (81,841) $ 1,368,859 $ (229,363) $ 2,439,533 $ (311,204) Less than 12 months 12 months or more Total Fair Unrecognized Fair Unrecognized Fair Unrecognized Debt securities held to maturity Commercial mortgage-backed securities $ 58,065 $ (8,009) $ 353,017 $ (55,729) $ 411,082 $ (63,738) Residential mortgage-backed securities — — 374,213 (69,279) 374,213 (69,279) Debt securities held to maturity with gross unrecognized losses $ 58,065 $ (8,009) $ 727,230 $ (125,008) $ 785,295 $ (133,017) ___________________________________________ 1. Unrealized losses for U.S. Treasury securities that have been in a continuous loss position for less than 12 months were insignificant, rounding to zero thousand. Additional information about debt securities in an unrealized or unrecognized loss position is presented in the tables below (dollars in thousands) : As of December 31, 2023 Available for Sale Held to Maturity Total Debt securities with gross unrealized or unrecognized losses, fair value $ 2,062,817 $ 730,397 $ 2,793,214 Gross unrealized or unrecognized losses on debt securities 247,245 142,231 389,476 Ratio of gross unrealized or unrecognized losses to debt securities with gross unrealized or unrecognized losses 12.0 % 19.5 % 13.9 % Count of debt securities 835 55 890 Count of debt securities in an unrealized or unrecognized loss position 779 55 834 As of December 31, 2022 Available for Sale Held to Maturity Total Debt securities with gross unrealized or unrecognized losses, fair value $ 2,439,533 $ 785,295 $ 3,224,828 Gross unrealized or unrecognized losses on debt securities 311,204 133,017 444,221 Ratio of gross unrealized or unrecognized losses to debt securities with gross unrealized or unrecognized losses 12.8 % 16.9 13.8 % Count of debt securities 1,091 55 1,146 Count of debt securities in an unrealized or unrecognized loss position 1,032 55 1,087 Unrealized and unrecognized losses were related to changes in market interest rates and market conditions that do not represent credit-related impairments. Unless part of a corporate strategy or restructuring plan, Busey does not intend to sell securities that are in an unrealized or unrecognized loss position, and it is more likely than not that Busey will recover the amortized cost prior to being required to sell the debt securities. Full collection of the amounts due according to the contractual terms of the debt securities is expected; therefore, no ACL was recorded in relation to debt securities, and the impairment related to noncredit factors on debt securities available for sale is recognized in AOCI, net of applicable taxes. As of December 31, 2023, Busey did not hold general obligation bonds of any single issuer, the aggregate of which exceeded 10% of the Company’s stockholders’ equity.

PORTFOLIO LOANS

PORTFOLIO LOANS	12 Months Ended
	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
PORTFOLIO LOANS	NOTE 3. PORTFOLIO LOANS Loan Categories Busey’s lending can be summarized into two primary categories: commercial and retail. Lending is further disaggregated into five primary classes of loans: commercial loans, commercial real estate loans, real estate construction loans in the commercial category, and retail real estate loans and retail other loans in the retail category. Distributions of the loan portfolio by loan category and class is presented in the following table (dollars in thousands) : As of December 31, 2023 2022 Commercial loans Commercial $ 1,835,994 $ 1,974,154 Commercial real estate 3,337,337 3,261,873 Real estate construction 461,717 530,469 Total commercial loans 5,635,048 5,766,496 Retail loans Retail real estate 1,720,455 1,657,082 Retail other 295,531 302,124 Total retail loans 2,015,986 1,959,206 Total portfolio loans 7,651,034 7,725,702 ACL (91,740) (91,608) Portfolio loans, net $ 7,559,294 $ 7,634,094 Net deferred loan origination costs included in the balances above were $13.5 million as of December 31, 2023, compared to $14.0 million as of December 31, 2022. Net accretable purchase accounting adjustments included in the balances above reduced loans by $4.5 million as of December 31, 2023, and by $5.9 million as of December 31, 2022. Commercial balances include loans originated under the PPP with an amortized cost of $0.3 million as of December 31, 2023, compared to $0.8 million as of December 31, 2022. Busey did not purchase any retail real estate loans during the years ended December 31, 2023, or 2022, and purchased $32.2 million of retail real estate loans during the year ended December 31, 2021. Pledged Loans The principal balance of loans Busey has pledged as collateral to the FHLB and Federal Reserve Bank for liquidity as set forth in the table below (dollars in thousands) : As of December 31, 2023 2022 Pledged loans FHLB $ 4,865,481 $ 5,095,448 Federal Reserve Bank 722,914 804,718 Total pledged loans $ 5,588,395 $ 5,900,166 Risk Grading Busey utilizes a loan grading scale to assign a risk grade to all of its loans. A description of the general characteristics of each grade is as follows: • Pass – This category includes loans that are all considered acceptable credits, ranging from investment or near investment grade, to loans made to borrowers who exhibit credit fundamentals that meet or exceed industry standards. • Watch – This category includes loans that warrant a higher-than-average level of monitoring to ensure that weaknesses do not cause the inability of the credit to perform as expected. These loans are not necessarily a problem due to other inherent strengths of the credit, such as guarantor strength, but have above average concern and monitoring. • Special mention – This category is for “Other Assets Specially Mentioned” loans that have potential weaknesses, which may, if not checked or corrected, weaken the asset, or inadequately protect Busey’s credit position at some future date. • Substandard – This category includes “Substandard” loans, determined in accordance with regulatory guidelines, for which the accrual of interest has not been stopped. Assets so classified must have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that Busey will sustain some loss if the deficiencies are not corrected. • Substandard non-accrual – This category includes loans that have all the characteristics of a “Substandard” loan with additional factors that make collection in full highly questionable and improbable. Such loans are placed on non-accrual status and may be dependent on collateral with a value that is difficult to determine. All loans are graded at their inception. Commercial lending relationships that are $1.0 million or less are usually processed through an expedited underwriting process. Most commercial loans greater than $1.0 million are included in a portfolio review at least annually. Commercial loans greater than $0.35 million that have a grading of special mention or worse are typically reviewed on a quarterly basis. Interim reviews may take place if circumstances of the borrower warrant a more frequent review. The following table is a summary of risk grades segregated by category of portfolio loans (dollars in thousands) : As of December 31, 2023 Pass Watch Special Substandard Substandard Total Commercial loans Commercial $ 1,462,755 $ 296,416 $ 46,488 $ 27,733 $ 2,602 $ 1,835,994 Commercial real estate 2,827,030 431,427 48,545 29,492 843 3,337,337 Real estate construction 448,011 8,135 — 5,327 244 461,717 Total commercial loans 4,737,796 735,978 95,033 62,552 3,689 5,635,048 Retail loans Retail real estate 1,702,897 11,144 1,024 1,795 3,595 1,720,455 Retail other 295,374 — — — 157 295,531 Total retail loans 1,998,271 11,144 1,024 1,795 3,752 2,015,986 Total portfolio loans $ 6,736,067 $ 747,122 $ 96,057 $ 64,347 $ 7,441 $ 7,651,034 As of December 31, 2022 Pass Watch Special Substandard Substandard Total Commercial loans Commercial $ 1,668,495 $ 201,758 $ 46,540 $ 51,187 $ 6,174 $ 1,974,154 Commercial real estate 2,851,709 326,455 43,526 34,539 5,644 3,261,873 Real estate construction 502,904 25,164 1 2,400 — 530,469 Total commercial loans 5,023,108 553,377 90,067 88,126 11,818 5,766,496 Retail loans Retail real estate 1,639,599 10,520 1,338 2,529 3,096 1,657,082 Retail other 301,971 — — — 153 302,124 Total retail loans 1,941,570 10,520 1,338 2,529 3,249 1,959,206 Total portfolio loans $ 6,964,678 $ 563,897 $ 91,405 $ 90,655 $ 15,067 $ 7,725,702 Risk grades of portfolio loans and net charge-offs are presented in the tables below by loan class, further sorted by origination year (dollars in thousands) : As of and For The Year Ended December 31, 2023 Term Loans Amortized Cost Basis by Origination Year Revolving Total Risk Grade Ratings 2023 2022 2021 2020 2019 Prior Commercial Pass $ 306,578 $ 220,847 $ 159,130 $ 71,025 $ 35,927 $ 143,078 $ 526,170 $ 1,462,755 Watch 78,603 65,703 21,421 23,919 7,035 21,293 78,442 296,416 Special Mention 792 8,224 2,917 1,076 686 3,274 29,519 46,488 Substandard 8,715 765 942 426 3,734 1,859 11,292 27,733 Substandard non-accrual 166 — 117 84 128 407 1,700 2,602 Total commercial 394,854 295,539 184,527 96,530 47,510 169,911 647,123 1,835,994 Current period charge-offs $ 284 $ — $ 420 $ — $ 316 $ 1,409 $ — $ 2,429 Commercial real estate Pass 395,644 824,506 720,052 399,195 271,078 199,662 16,893 2,827,030 Watch 166,795 47,070 92,848 34,010 68,196 19,396 3,112 431,427 Special Mention 14,313 10,507 12,446 4,968 3,297 3,014 — 48,545 Substandard 1,796 188 18,862 2,938 1,802 3,856 50 29,492 Substandard non-accrual 47 79 85 23 — 609 — 843 Total commercial real estate 578,595 882,350 844,293 441,134 344,373 226,537 20,055 3,337,337 Current period charge-offs — — — — — 953 — 953 Real estate construction Pass 204,952 128,462 85,086 2,616 1,323 2,934 22,638 448,011 Watch 2,859 4,406 507 322 41 — — 8,135 Substandard 5,327 — — — — — — 5,327 Substandard non-accrual — — — — — 244 — 244 Total real estate construction 213,138 132,868 85,593 2,938 1,364 3,178 22,638 461,717 Current period charge-offs — — — — — — — — Retail real estate Pass 243,400 376,922 411,723 156,762 70,099 256,571 187,420 1,702,897 Watch 1,096 4,137 2,442 954 536 234 1,745 11,144 Special Mention 286 358 — — — 380 — 1,024 Substandard 69 72 292 49 80 997 236 1,795 Substandard non-accrual — 528 121 267 100 1,960 619 3,595 Total retail real estate 244,851 382,017 414,578 158,032 70,815 260,142 190,020 1,720,455 Current period charge-offs — 5 — 29 72 301 — 407 Retail other Pass 88,885 92,931 23,019 6,701 4,597 854 78,387 295,374 Substandard non-accrual — 93 62 — — 2 — 157 Total retail other 88,885 93,024 23,081 6,701 4,597 856 78,387 295,531 Current period charge-offs 5 71 172 5 3 373 — 629 Total portfolio loans $ 1,520,323 $ 1,785,798 $ 1,552,072 $ 705,335 $ 468,659 $ 660,624 $ 958,223 $ 7,651,034 Total current period charge-offs $ 289 $ 76 $ 592 $ 34 $ 391 $ 3,036 $ — $ 4,418 As of December 31, 2022 Term Loans Amortized Cost Basis by Origination Year Revolving Total Risk Grade Ratings 2022 2021 2020 2019 2018 Prior Commercial Pass $ 479,893 $ 266,122 $ 136,445 $ 52,046 $ 50,764 $ 135,000 $ 548,225 $ 1,668,495 Watch 54,195 49,382 3,288 7,201 1,258 2,160 84,274 201,758 Special Mention 1,958 937 1,642 974 1,000 17,024 23,005 46,540 Substandard 8,926 1,165 570 6,671 2,382 5,191 26,282 51,187 Substandard non-accrual 21 3,292 226 135 — 100 2,400 6,174 Total commercial 544,993 320,898 142,171 67,027 55,404 159,475 684,186 1,974,154 Commercial real estate Pass 883,688 819,133 478,452 297,525 161,409 198,419 13,083 2,851,709 Watch 77,346 56,113 64,282 96,664 21,592 5,758 4,700 326,455 Special Mention 11,943 5,389 12,386 1,420 6,917 5,471 — 43,526 Substandard 5,340 13,528 3,454 1,907 10,248 62 — 34,539 Substandard non-accrual — 3,959 33 — 1,647 5 — 5,644 Total commercial real estate 978,317 898,122 558,607 397,516 201,813 209,715 17,783 3,261,873 Real estate construction Pass 219,112 191,724 68,015 1,490 1,901 1,751 18,911 502,904 Watch 8,530 12,019 3,169 48 — 1,398 — 25,164 Special Mention — — — 1 — — — 1 Substandard 2,400 — — — — — — 2,400 Total real estate construction 230,042 203,743 71,184 1,539 1,901 3,149 18,911 530,469 Retail real estate Pass 396,547 456,158 175,148 77,569 56,887 267,387 209,903 1,639,599 Watch 2,928 2,991 1,846 1,444 1,063 27 221 10,520 Special Mention 945 — — — — 393 — 1,338 Substandard 77 732 198 81 141 1,293 7 2,529 Substandard non-accrual 10 191 107 32 390 1,708 658 3,096 Total retail real estate 400,507 460,072 177,299 79,126 58,481 270,808 210,789 1,657,082 Retail other Pass 134,567 43,512 13,141 13,086 5,646 991 91,028 301,971 Substandard non-accrual 14 134 3 — — 2 — 153 Total retail other 134,581 43,646 13,144 13,086 5,646 993 91,028 302,124 Total portfolio loans $ 2,288,440 $ 1,926,481 $ 962,405 $ 558,294 $ 323,245 $ 644,140 $ 1,022,697 $ 7,725,702 Past Due and Non-Accrual Loans An analysis of the amortized cost basis of portfolio loans that are past due and still accruing, or on non-accrual status, is as follows (dollars in thousands) : As of December 31, 2023 Loans past due, still accruing Non-accrual 30-59 Days 60-89 Days 90+Days Past due and non-accrual loans Commercial loans: Commercial $ — $ 214 $ — $ 2,602 Commercial real estate 752 — — 843 Real estate construction 24 — — 244 Past due and non-accrual commercial loans 776 214 — 3,689 Retail loans: Retail real estate 2,781 927 366 3,595 Retail other 886 195 9 157 Past due and non-accrual retail loans 3,667 1,122 375 3,752 Total past due and non-accrual loans $ 4,443 $ 1,336 $ 375 $ 7,441 As of December 31, 2022 Loans past due, still accruing Non-accrual 30-59 Days 60-89 Days 90+Days Past due and non-accrual loans Commercial loans: Commercial $ 2 $ — $ — $ 6,174 Commercial real estate 124 — — 5,644 Past due and non-accrual commercial loans 126 — — 11,818 Retail loans: Retail real estate 4,709 1,239 673 3,096 Retail other 414 60 — 153 Past due and non-accrual retail loans 5,123 1,299 673 3,249 Total past due and non-accrual loans $ 5,249 $ 1,299 $ 673 $ 15,067 Gross interest income recorded on 90+ days past due loans, and that would have been recorded on non-accrual loans if they had been accruing interest in accordance with their original terms, was $1.1 million, $1.2 million, and $1.6 million for the years ended December 31, 2023, 2022, and 2021, respectively. Interest collected on those loans and recognized on a cash basis that was included in interest income was $0.4 million for each of the years ended December 31, 2023, 2022, and 2021. Loan Modification Disclosures Pursuant to ASU 2022-02 The following table presents the amortized cost basis of loans that were modified for borrowers experiencing financial difficulty during the periods indicated, disaggregated by class of financing receivable and type of concession granted (dollars in thousands) : Year Ended December 31, 2023 Interest Rate Reduction 1 % of Total Class of Financing Receivable 2 Term Extension 3 % of Total Class of Financing Receivable 2 Modified Loans Commercial $ — — % $ 16,586 0.9 % Commercial real estate 872 — % 923 — % Real estate construction — — % 5,327 1.2 % Total of loans modified during the period 4 $ 872 — % $ 22,836 0.3 % ___________________________________________ 1. For one loan, the default rate was removed once forbearance was entered. 2. Modified loans represent an insignificant portion of commercial real estate loans, rounding to zero percent. 3. Modifications to extend loan terms also included, in some cases, interest rate increases during the extension period. 4. Modifications include one loan on non-accrual status, and the remaining loans were classified as substandard. The following table summarizes the effects of loan modifications made during the periods indicated, for borrowers experiencing financial difficulty: Year Ended December 31, 2023 Weighted Average Interest Rate Reduction Weighted Average Term Extension Effects of Loan Modifications Commercial — 18.1 months Commercial real estate 2.50 % 21.0 months Real estate construction — 12.0 months Total financial effect 2.50 % 16.8 months The following table provides the amortized cost basis of financing receivables that had a payment default during the year ended December 31, 2023, after having been modified during the 12 months before default for borrowers experiencing financial difficulty (dollars in thousands) . A default occurs when a loan is 90 days or more past due or transferred to non-accrual status. Years Ended December 31, 2023 Term Extension Loans with Subsequent Defaults Commercial $ 88 Busey closely monitors the performance of the loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following table depicts the payment performance of loans modified on or after January 1, 2023, the date we adopted ASU 2022-02 (dollars in thousands) : As of December 31, 2023 Current Non-accrual Modified Loans Commercial $ 16,498 $ 88 Commercial real estate 1,795 — Real estate construction 5,327 — Amortized cost of modified loans $ 23,620 $ 88 Troubled Debt Restructurings Disclosures Prior to the Adoption of ASU 2022-02 TDR loan balances are summarized as follows (dollars in thousands) : As of TDRs In compliance with modified terms $ 3,032 Non-performing TDRs 537 Total TDRs $ 3,569 Loans that were designated as TDRs during the years ended as of the dates indicated are summarized as follows (dollars in thousands) : Newly Designated TDRs Recorded Investment 1 Number of Rate Modification 2 Payment Modification 2 December 31, 2022 Commercial 3 $ 136 $ 996 Retail real estate 1 — 517 Total 4 $ 136 $ 1,513 December 31, 2021 Commercial 1 $ 364 $ — Total 1 $ 364 $ — ___________________________________________ 1. Recorded investment for newly designated TDR’s that were still outstanding as of the dates indicated. 2. TDRs may have included multiple concessions; those that included an interest rate concession and payment concession are shown in the rate modification column. There were no TDRs entered into during the 12 months ended December 31, 2022, or 2021, that had subsequent defaults. Gross interest income that would have been recorded during the years ended December 31, 2022, and 2021, if TDRs had performed in accordance with their original terms compared with their modified terms, was insignificant. Collateral Dependent Loans Management's evaluation as to the ultimate collectability of loans includes estimates regarding future cash flows from operations and the value of property, real and personal, pledged as collateral. These estimates are affected by changing economic conditions and the economic prospects of borrowers. Collateral dependent loans are loans in which repayment is expected to be provided solely by the underlying collateral and there are no other available and reliable sources of repayment. Loans are written down to the lower of cost or fair value of underlying collateral, less estimated costs to sell. Busey had $6.1 million and $14.0 million of collateral dependent loans secured by real estate or business assets as of December 31, 2023, and December 31, 2022, respectively. Loans Evaluated Individually Busey evaluates loans with disparate risk characteristics on an individual basis. The following tables provide details of loans evaluated individually, segregated by category. The unpaid principal balance represents the customer outstanding contractual principal balance excluding any partial charge-offs. Recorded investment represents the amortized cost of customer balances net of any partial charge-offs recognized on the loan. Average recorded investment is calculated using the most recent four quarters (dollars in thousands) : As of December 31, 2023 Unpaid Recorded Investment Average With No With Total Related Loans evaluated individually Commercial loans: Commercial $ 7,283 $ 585 $ 1,785 $ 2,370 $ 785 $ 5,244 Commercial real estate 2,600 610 85 695 85 3,865 Real estate construction — — — — — 49 Commercial loans evaluated individually 9,883 1,195 1,870 3,065 870 9,158 Retail loans: Retail real estate 213 61 25 86 25 790 Retail loans evaluated individually 213 61 25 86 25 790 Total loans evaluated individually $ 10,096 $ 1,256 $ 1,895 $ 3,151 $ 895 $ 9,948 As of December 31, 2022 Unpaid Recorded Investment Average With No With Total Related Loans evaluated individually Commercial loans: Commercial $ 9,589 $ 656 $ 5,918 $ 6,574 $ 2,476 $ 6,761 Commercial real estate 8,039 2,334 3,903 6,237 2,000 5,219 Real estate construction 247 247 — 247 — 260 Commercial loans evaluated individually 17,875 3,237 9,821 13,058 4,476 12,240 Retail loans: Retail real estate 2,733 2,564 25 2,589 25 2,311 Retail loans evaluated individually 2,733 2,564 25 2,589 25 2,311 Total loans evaluated individually $ 20,608 $ 5,801 $ 9,846 $ 15,647 $ 4,501 $ 14,551 Allowance for Credit Losses Management estimates the ACL balance using relevant available information from internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. Historical credit loss experience provides the basis for the estimation of expected credit losses. The cumulative loss rate used as the basis for the estimate of credit losses is comprised of Busey’s historical loss experience beginning in 2010. Due to the continued economic uncertainty in the markets in which the Company operates, Busey will continue to utilize a forecast period of 12 months with an immediate reversion to historical loss rates beyond this forecast period in its ACL estimate. PPP loans were excluded from the ACL calculation as they are 100% government guaranteed. The following table summarizes activity in the ACL attributable to each loan class. Allocation of a portion of the ACL to one loan class does not preclude its availability to absorb losses in other loan classes (dollars in thousands) : Commercial Commercial Real Estate Retail Real Retail Other Total ACL Balance, December 31, 2020 $ 23,866 $ 46,230 $ 8,193 $ 21,992 $ 767 $ 101,048 Day 1 PCD 1 3,546 336 — 129 167 4,178 Provision for credit losses (2,160) (7,651) (3,180) (4,456) 2,346 (15,101) Charged-off (2,026) (925) (209) (1,145) (478) (4,783) Recoveries 629 259 298 1,069 290 2,545 ACL balance, December 31, 2021 23,855 38,249 5,102 17,589 3,092 87,887 Provision for credit losses 497 892 1,142 219 1,873 4,623 Charged-off (1,069) (1,375) (23) (251) (461) (3,179) Recoveries 577 533 236 636 295 2,277 ACL balance, December 31, 2022 23,860 38,299 6,457 18,193 4,799 91,608 Provision for credit losses (727) (2,455) (1,465) 7,922 (876) 2,399 Charged-off (2,429) (953) — (407) (629) (4,418) Recoveries 552 574 171 590 264 2,151 ACL balance, December 31, 2023 $ 21,256 $ 35,465 $ 5,163 $ 26,298 $ 3,558 $ 91,740 __________________________________________ 1. The Day 1 PCD is attributable to the CAC acquisition, finalized May 31, 2021. The following tables present the ACL and amortized cost of portfolio loans by loan category and class (dollars in thousands) : As of December 31, 2023 Portfolio Loans ACL Attributed to Portfolio Loans Collectively Individually Total Collectively Individually Total Portfolio loans and related ACL Commercial loans: Commercial $ 1,833,624 $ 2,370 $ 1,835,994 $ 20,471 $ 785 $ 21,256 Commercial real estate 3,336,642 695 3,337,337 35,380 85 35,465 Real estate construction 461,717 — 461,717 5,163 — 5,163 Commercial loans and related ACL 5,631,983 3,065 5,635,048 61,014 870 61,884 Retail loans: Retail real estate 1,720,369 86 1,720,455 26,273 25 26,298 Retail other 295,531 — 295,531 3,558 — 3,558 Retail loans and related ACL 2,015,900 86 2,015,986 29,831 25 29,856 Portfolio loans and related ACL $ 7,647,883 $ 3,151 $ 7,651,034 $ 90,845 $ 895 $ 91,740 As of December 31, 2022 Portfolio Loans ACL Attributed to Portfolio Loans Collectively Individually Total Collectively Individually Total Portfolio loans and related ACL Commercial loans: Commercial $ 1,967,580 $ 6,574 $ 1,974,154 $ 21,384 $ 2,476 $ 23,860 Commercial real estate 3,255,636 6,237 3,261,873 36,299 2,000 38,299 Real estate construction 530,222 247 530,469 6,457 — 6,457 Commercial loans and related ACL 5,753,438 13,058 5,766,496 64,140 4,476 68,616 Retail loans: Retail real estate 1,654,493 2,589 1,657,082 18,168 25 18,193 Retail other 302,124 — 302,124 4,799 — 4,799 Retail loans and related ACL 1,956,617 2,589 1,959,206 22,967 25 22,992 Portfolio loans and related ACL $ 7,710,055 $ 15,647 $ 7,725,702 $ 87,107 $ 4,501 $ 91,608

OTHER REAL ESTATE OWNED AND OTH

OTHER REAL ESTATE OWNED AND OTHER REPOSSESSED ASSETS	12 Months Ended
	Dec. 31, 2023
Other Real Estate, Foreclosed Assets, and Repossessed Assets [Abstract]
OTHER REAL ESTATE OWNED AND OTHER REPOSSESSED ASSETS	NOTE 4. OTHER REAL ESTATE OWNED AND OTHER REPOSSESSED ASSETS OREO and other repossessed assets represent properties and other assets acquired through foreclosure or other proceedings in settlement of loans and is included in other assets in the accompanying Consolidated Balance Sheets . The following table summarizes the composition of Busey’s OREO and other repossessed asset balances as of the periods presented (dollars in thousands) : As of December 31, 2023 2022 OREO Residential $ 125 $ 70 Total OREO 125 70 Other repossessed assets — 780 OREO and other repossessed assets $ 125 $ 850 The following table summarizes changes in the balance OREO and other repossessed assets (dollars in thousands) : Years Ended December 31, 2023 2022 2021 OREO and other repossessed assets at January 1 $ 850 $ 4,416 $ 4,571 Additions, transfers from loans 189 175 1,610 Sales (770) (2,565) (1,721) Cash payments collected (44) (565) (43) Impairment of OREO and other repossessed assets (100) (611) (1) OREO and other repossessed assets at December 31 $ 125 $ 850 $ 4,416 Busey had residential real estate in the process of foreclosure totaling $0.3 million as of December 31, 2023, and $1.1 million as of December 31, 2022. Busey has elected to follow Federal Housing Finance Agency guidelines on single-family foreclosures and real estate owned evictions on portfolio loans. Busey incurs operating expenses for, and may have income from, OREO and other repossessed assets. Upon sale, Busey may recognize a gain or loss on the sale of OREO and other repossessed assets. The table below summarizes the effect of these activities, included in Other expense on Busey’s Consolidated Statements of Income (dollars in thousands) : Years Ended December 31, 2023 2022 2021 Activity for OREO and other repossessed assets Net loss (gain) on sales $ 54 $ 665 $ 173 Operating expenses, net of income 67 248 468 Activity for OREO and other repossessed assets $ 121 $ 913 $ 641

PREMISES AND EQUIPMENT

PREMISES AND EQUIPMENT	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
PREMISES AND EQUIPMENT	NOTE 5. PREMISES AND EQUIPMENT Premises and equipment are summarized as follows (dollars in thousands) : As of December 31, 2023 2022 Premises and equipment Land and improvements $ 43,076 $ 44,193 Buildings and improvements 128,322 128,669 Furniture and equipment 51,077 52,991 Premises and equipment, gross 222,475 225,853 Accumulated depreciation 99,881 99,329 Premises and equipment, net $ 122,594 $ 126,524 Depreciation expense is presented in the table below for the periods indicated (dollars in thousands) : Years Ended December 31, 2023 2022 2021 Depreciation expense $ 9,488 $ 10,482 $ 11,610

LEASES

LEASES	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
LEASES	NOTE 6. LEASES Busey as The Lessee Busey has operating leases consisting primarily of equipment leases and real estate leases for banking centers, ATM locations, and office space. The following table summarizes lease related information and balances Busey reported in its Consolidated Balance Sheets for the periods presented (dollars in thousands) : As of December 31, 2023 2022 Lease balances Right of use assets $ 11,027 $ 12,829 Lease liabilities 11,308 12,995 Supplemental information Year through which lease terms extend 2037 2037 Weighted average remaining lease term 8.39 years 8.90 years Weighted average discount rate 3.59 % 3.45 % The following table represents lease costs and cash flows related to leases for the periods presented (dollars in thousands) : Years Ended December 31, 2023 2022 2021 Lease costs Operating lease costs $ 2,395 $ 2,495 $ 2,464 Variable lease costs 38 365 540 Short-term lease costs 50 22 49 Total lease cost 1 $ 2,483 $ 2,882 $ 3,053 Cash flows related to leases Cash paid for amounts included in the measurement of lease liabilities: Operating lease cash flows – Fixed payments $ 2,290 $ 3,080 $ 2,417 Operating lease cash flows – Liability reduction 1,883 2,285 2,217 Right of use assets obtained during the period in exchange for operating lease liabilities 2 231 6,206 5,818 ___________________________________________ 1. Lease costs are included in net occupancy and equipment expense in the Consolidated Statements of Income . 2. The year ended December 31, 2021, includes $0.4 million related to a lease obtained in the acquisition of CAC. Busey was obligated under noncancelable operating leases for office space and other commitments. Future undiscounted lease payments with initial terms of one year or more, are as follows (dollars in thousands) : As of Rent commitments 2024 $ 2,023 2025 1,768 2026 1,443 2027 1,277 2028 1,255 Thereafter 5,478 Total undiscounted cash flows 13,244 Less: Amounts representing interest 1,936 Present value of net future minimum lease payments $ 11,308 Busey as The Lessor Busey occasionally leases parking lots and office space to outside parties. Revenues recorded in connection with these leases, reported in other income on our Consolidated Statements of Income , are summarized as follows (dollars in thousands) : Years Ended December 31, 2023 2022 2021 Rental income $ 724 $ 707 $ 566
LEASES	NOTE 6. LEASES Busey as The Lessee Busey has operating leases consisting primarily of equipment leases and real estate leases for banking centers, ATM locations, and office space. The following table summarizes lease related information and balances Busey reported in its Consolidated Balance Sheets for the periods presented (dollars in thousands) : As of December 31, 2023 2022 Lease balances Right of use assets $ 11,027 $ 12,829 Lease liabilities 11,308 12,995 Supplemental information Year through which lease terms extend 2037 2037 Weighted average remaining lease term 8.39 years 8.90 years Weighted average discount rate 3.59 % 3.45 % The following table represents lease costs and cash flows related to leases for the periods presented (dollars in thousands) : Years Ended December 31, 2023 2022 2021 Lease costs Operating lease costs $ 2,395 $ 2,495 $ 2,464 Variable lease costs 38 365 540 Short-term lease costs 50 22 49 Total lease cost 1 $ 2,483 $ 2,882 $ 3,053 Cash flows related to leases Cash paid for amounts included in the measurement of lease liabilities: Operating lease cash flows – Fixed payments $ 2,290 $ 3,080 $ 2,417 Operating lease cash flows – Liability reduction 1,883 2,285 2,217 Right of use assets obtained during the period in exchange for operating lease liabilities 2 231 6,206 5,818 ___________________________________________ 1. Lease costs are included in net occupancy and equipment expense in the Consolidated Statements of Income . 2. The year ended December 31, 2021, includes $0.4 million related to a lease obtained in the acquisition of CAC. Busey was obligated under noncancelable operating leases for office space and other commitments. Future undiscounted lease payments with initial terms of one year or more, are as follows (dollars in thousands) : As of Rent commitments 2024 $ 2,023 2025 1,768 2026 1,443 2027 1,277 2028 1,255 Thereafter 5,478 Total undiscounted cash flows 13,244 Less: Amounts representing interest 1,936 Present value of net future minimum lease payments $ 11,308 Busey as The Lessor Busey occasionally leases parking lots and office space to outside parties. Revenues recorded in connection with these leases, reported in other income on our Consolidated Statements of Income , are summarized as follows (dollars in thousands) : Years Ended December 31, 2023 2022 2021 Rental income $ 724 $ 707 $ 566

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	NOTE 7. GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill Busey’s goodwill is associated with its three operating segments, Banking, Wealth Management, and FirsTech. Goodwill is tested annually for impairment, and as part of this analysis, the reporting unit's carrying value is compared to its estimated fair value. Based on the impairment testing performed at December 31, 2023, there were no indicators of potential impairment. Busey did not record any new goodwill during the years ended December 31, 2023, or 2022. The carrying amount of goodwill by operating segment is as follows (dollars in thousands) : As of December 31, 2023 2022 Goodwill Banking $ 294,773 $ 294,773 Wealth Management 14,108 14,108 FirsTech 8,992 8,992 Total goodwill $ 317,873 $ 317,873 Indefinite-lived intangible assets, such as goodwill, are not amortized. Goodwill is Busey's only indefinite-lived intangible asset. Intangible Assets Core deposit and customer relationship intangible assets are amortized over the estimated period during which Busey expects to benefit from the assets. Intangible asset disclosures are as follows (dollars in thousands) : As of December 31, 2023 Core deposit Customer Total Intangible Assets Intangible assets, gross $ 99,065 $ 33,138 $ 132,203 Accumulated amortization 71,092 25,120 96,212 Intangible assets, net $ 27,973 $ 8,018 $ 35,991 As of December 31, 2022 Core deposit Customer Total Intangible Assets Intangible assets, gross $ 99,065 $ 33,138 $ 132,203 Accumulated amortization 63,476 22,304 85,780 Intangible assets, net $ 35,589 $ 10,834 $ 46,423 Amortization expense related to intangible assets, as reflected in Busey's Consolidated Statements of Income , is presented in the table below (dollars in thousands) : Years Ended December 31, 2023 2022 2021 Amortization Expense Core deposit intangible $ 7,616 $ 8,315 $ 8,253 Customer relationship intangible 2,816 3,313 3,021 Amortization of intangible assets $ 10,432 $ 11,628 $ 11,274 Future expense for the amortization of intangible assets, as estimated, is summarized in the table below (dollars in thousands) : As of December 31, 2023 Core deposit Customer Total Estimated amortization expense 2024 $ 6,902 $ 2,318 $ 9,220 2025 5,956 1,887 7,843 2026 5,227 1,479 6,706 2027 4,490 1,091 5,581 2028 3,740 703 4,443 Thereafter 1,658 540 2,198 Total estimated amortization expense $ 27,973 $ 8,018 $ 35,991

DEPOSITS

DEPOSITS	12 Months Ended
	Dec. 31, 2023
Deposits [Abstract]
DEPOSITS	NOTE 8. DEPOSITS The composition of Busey’s deposits is as follows (dollars in thousands) : As of December 31, 2023 2022 Deposits Noninterest-bearing demand deposits $ 2,834,655 $ 3,393,666 Interest-bearing transaction deposits 2,717,139 2,857,818 Saving deposits and money market deposits 2,920,088 2,964,421 Time deposits 1,819,274 855,375 Total deposits $ 10,291,156 $ 10,071,280 Additional information about Busey’s deposits follows (dollars in thousands) : As of December 31, 2023 2022 Brokered savings deposits and money market deposits $ 6,001 $ 1,303 Brokered time deposits 285 275 Total time deposits with a minimum denomination of $100,000 1,072,189 416,445 Total time deposits with a minimum denomination that meets or exceeds the FDIC insurance limit of $250,000 386,286 120,377 Scheduled maturities of time deposits are as follows (dollars in thousands) : As of Time deposits by schedule of maturities 2024 $ 1,705,846 2025 68,738 2026 21,222 2027 12,470 2028 10,451 Thereafter 547 Time deposits $ 1,819,274

BORROWINGS

BORROWINGS	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
BORROWINGS	NOTE 9. BORROWINGS Securities Sold Under Agreements to Repurchase Securities sold under agreements to repurchase, which are classified as secured borrowings, generally mature daily. Securities sold under agreements to repurchase are reflected at the amount of cash received in connection with the transaction. The underlying securities are held by Busey’s safekeeping agent. Busey may be required to provide additional collateral based on fluctuations in the fair value of the underlying securities. Securities sold under agreements to repurchase were as follows (dollars in thousands) : As of December 31, 2023 2022 Securities sold under agreements to repurchase $ 187,396 $ 229,806 Weighted average rate for securities sold under agreements to repurchase 3.26 % 1.91 % Term Loan On May 28, 2021, Busey entered into a Second Amended and Restated Credit Agreement, pursuant to which Busey has access to (1) a $40.0 million revolving line of credit with an initial termination date of April 30, 2022, and (2) a $60.0 million Term Loan with a maturity date of May 31, 2026. The loans had an annual interest rate of 1.75% plus the one-month LIBOR rate. On April 30, 2022, the agreement was amended, effecting an extension of the termination date for the revolving line of credit to April 30, 2023, and providing for the transition from a LIBOR-indexed interest rate to a SOFR-indexed interest rate. Under the terms of the amendment, the loans now have an annual interest rate of 1.80% plus the one-month forward-looking term rate based on SOFR. On April 30, 2023, the agreement was further amended to extend the term for the revolving line of credit to April 30, 2024. Proceeds of the Term Loan were used to fund a part of the cash portion of the merger consideration related to the acquisition of CAC in the second quarter of 2021, and for general corporate purposes. The total outstanding balance on the Term Loan was $30.0 million as of December 31, 2023, of which $12.0 million was short-term and $18.0 million was long-term. Quarterly payments on the Term Loan reduce the outstanding principal balance by $3.0 million each quarter. As of December 31, 2023, there was no balance outstanding on the revolving credit facility. The revolving credit facility incurs a non-usage fee based on any undrawn amounts. Short-Term Borrowings Busey’s short-term borrowings include loans maturing within one year of the loan origination date, as well as the current portion of long-term debt that is due within 12 months. Short-term borrowings are summarized as follows (dollars in thousands) : As of December 31, 2023 2022 Short-term borrowings FHLB advances maturing in less than one year from date of origination, and the current portion of long-term FHLB advances due within 12 months $ — $ 339,054 Term Loan, current portion due within 12 months 12,000 12,000 Total short-term debt $ 12,000 $ 351,054 Funds borrowed from the FHLB, listed above, consisted of four notes with a weighted average interest rate of 4.28% and a weighted average maturity period of five days as of December 31, 2022. Federal funds purchased are short-term borrowings that generally mature between one day and 90 days. During the first quarter of 2023, Busey purchased federal funds to test operational availability to access funds if needed. Busey had no federal funds purchased as of December 31, 2023, or 2022. Long-Term Debt Busey’s long-term debt consists of loans maturing more than one year from the loan origination date, excluding the current portion that is due within 12 months. Long-term debt is summarized as follows (dollars in thousands) : As of December 31, 2023 2022 Long-term debt Term Loan $ 18,000 $ 30,000 Total long-term debt $ 18,000 $ 30,000 Subordinated Notes On June 1, 2020, Busey issued $125.0 million of fixed-to-floating rate subordinated notes that mature on June 1, 2030. The subordinated notes, which qualify as Tier 2 capital for regulatory purposes, bear interest at an annual rate of 5.25% for the first five years after issuance and thereafter bear interest at a floating rate equal to a three-month benchmark rate plus a spread of 5.11%, as calculated on each applicable determination date. The subordinated notes are payable semi-annually on each June 1 and December 1 during the five-year fixed-term, and thereafter on March 1, June 1, September 1, and December 1 of each year, commencing on September 1, 2025. The subordinated notes have an optional redemption in whole or in part on any interest payment date on or after June 1, 2025. The subordinated notes are unsecured obligations of the Company. On June 2, 2022, Busey issued $100.0 million aggregate principal amount of 5.000% fixed-to-floating rate subordinated notes maturing June 15, 2032, which qualify as Tier 2 Capital for regulatory purposes. The price to the public for the subordinated notes was 100% of the principal amount of the subordinated notes. Interest on the subordinated notes accrues at a rate equal to (1) 5.000% per annum from the original issue date to, but excluding, June 15, 2027, payable semiannually in arrears, and (2) a floating rate per annum equal to a benchmark rate, which is expected to be the Three-Month Term SOFR (as defined in the subordinated notes), plus a spread of 252 basis points from and including, June 15, 2027, payable quarterly in arrears. The subordinated notes have an optional redemption in whole or in part on any interest payment date on or after June 15, 2027. Unamortized debt issuance costs related to Busey’s subordinated notes are presented in the following table (dollars in thousands) : As of December 31, 2023 2022 Unamortized debt issuance costs Subordinated notes issued in 2020 $ 735 $ 1,220 Subordinated notes issued in 2022 1,383 1,742 Total unamortized debt issuance costs $ 2,118 $ 2,962

JUNIOR SUBORDINATED DEBT OWED T

JUNIOR SUBORDINATED DEBT OWED TO UNCOLSOLIDATED TRUSTS	12 Months Ended
	Dec. 31, 2023
Junior Subordinated Debt Owed to Unconsolidated Trusts
JUNIOR SUBORDINATED DEBT OWED TO UNCOLSOLIDATED TRUSTS	NOTE 10. JUNIOR SUBORDINATED DEBT OWED TO UNCONSOLIDATED TRUSTS Busey maintains statutory trusts for the sole purpose of issuing and servicing trust preferred securities and related trust common securities. Proceeds from such issuances were used by the trusts to purchase junior subordinated notes issued by Busey, which are the sole assets of each trust. Concurrent with the issuance of the trust preferred securities, Busey issued guarantees for the benefit of the holders of the trust preferred securities. The trust preferred securities are instruments that qualify and are treated as Tier 1 regulatory capital. Busey owns all of the common securities of each trust. The trust preferred securities issued by each trust rank equally with the common securities in right of payment, except that if an event of default under the indenture governing the notes has occurred and is continuing, the preferred securities will rank senior to the common securities in right of payment. In connection with the Pulaski acquisition in 2016, Busey acquired similar statutory trusts previously maintained by Pulaski and the fair value adjustment is being accreted over their weighted average remaining life, with a balance of $2.6 million remaining to be accreted. Busey had $72.0 million and $71.8 million of junior subordinated debt owed to unconsolidated trusts at December 31, 2023, and 2022, respectively, maturing in 2034 through 2036. Busey’s trust preferred securities are subject to mandatory redemption, in whole or in part, upon repayment of the junior subordinated notes at par value at the stated maturity date or upon redemption. Each trust’s ability to pay amounts due on the trust preferred securities is solely dependent upon Busey making payments on the related junior subordinated notes. Busey’s obligations under the junior subordinated notes and other relevant trust agreements, in aggregate, constitute a full and unconditional guarantee by Busey of each trust’s obligations under the trust preferred securities issued by each trust. Busey has the right to defer payment of interest on the notes, in which case the distributions on the trust preferred securities will also be deferred, for up to five years, but not beyond the stated maturity date. For regulatory capital purposes, current banking regulations allow for the inclusion in Tier 1 Capital of qualifying trust preferred securities issued prior to May 19, 2010, by bank holding companies with less than $15.0 billion of assets, but do not allow for additional Tier 1 Capital to be raised through the future issuance of trust preferred securities. As of December 31, 2023, 100% of the trust preferred securities qualified as Tier 1 Capital; however, once Busey reaches $15.0 billion in assets, its trust preferred securities will no longer quality as Tier 1 Capital.

REGULATORY CAPITAL

REGULATORY CAPITAL	12 Months Ended
	Dec. 31, 2023
Banking and Thrift, Other Disclosure [Abstract]
REGULATORY CAPITAL	NOTE 11. REGULATORY CAPITAL Busey and its subsidiary bank are subject to various regulatory capital requirements administered by federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory—and possibly additional discretionary—actions by regulators that, if undertaken, could have a direct material effect on Busey's Consolidated Financial Statements . Capital amounts and classification also are subject to qualitative judgments by regulators about components, risk weightings, and other factors. Banking regulations identify five capital categories for insured depository institutions: well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized, and critically undercapitalized. As of December 31, 2023, and December 31, 2022, all capital ratios of Busey and its subsidiary bank exceeded well capitalized levels under the applicable regulatory capital adequacy guidelines. Management believes that no events or changes have occurred subsequent to December 31, 2023, that would change this designation. Current Expected Credit Loss Model On August 26, 2020, the FDIC and other federal banking agencies adopted a final rule which provided banking organizations that adopted CECL during 2020 with the option to delay for two years the estimated impact of CECL on regulatory capital and to phase in the aggregate impact of the deferral on regulatory capital over a subsequent three-year period. Under this final rule, because Busey elected to use the deferral option, the regulatory capital impact of our transition adjustments recorded on January 1, 2020, arising from the adoption of CECL was deferred for two years. In addition, 25 percent of the ongoing impact of CECL on our ACL, retained earnings, and average total consolidated assets from January 1, 2020, through the end of the two-year deferral period, each as reported for regulatory capital purposes, has been added to the deferred transition amounts (“adjusted transition amounts”) and deferred for the two-year period. On January 1, 2022, at the conclusion of the two-year period, the adjusted transition amounts began to be phased-in for regulatory capital purposes at a rate of 25 percent per year, with the phased-in amounts included in regulatory capital at the beginning of each year. Capital Amounts and Ratios The following tables summarize regulatory capital requirements applicable to Busey and its subsidiary bank (dollars in thousands) : As of December 31, 2023 Actual Minimum Minimum Amount Ratio Amount Ratio Amount Ratio Common equity Tier 1 capital to risk weighted assets First Busey $ 1,155,973 13.09 % $ 397,331 4.50 % $ 573,923 6.50 % Busey Bank $ 1,362,962 15.48 % $ 396,128 4.50 % $ 572,185 6.50 % Tier 1 capital to risk weighted assets First Busey $ 1,229,973 13.93 % $ 529,775 6.00 % $ 706,367 8.00 % Busey Bank $ 1,362,962 15.48 % $ 528,171 6.00 % $ 704,228 8.00 % Total capital to risk weighted assets First Busey $ 1,540,318 17.44 % $ 706,367 8.00 % $ 882,958 10.00 % Busey Bank $ 1,448,307 16.45 % $ 704,228 8.00 % $ 880,285 10.00 % Leverage ratio of Tier 1 capital to average assets First Busey $ 1,229,973 10.08 % $ 488,315 4.00 % N/A N/A Busey Bank $ 1,362,962 11.19 % $ 487,103 4.00 % $ 608,879 5.00 % As of December 31, 2022 Actual Minimum Minimum Amount Ratio Amount Ratio Amount Ratio Common equity Tier 1 capital to risk weighted assets First Busey $ 1,081,686 11.96 % $ 406,980 4.50 % $ 587,861 6.50 % Busey Bank $ 1,306,716 14.49 % $ 405,736 4.50 % $ 586,063 6.50 % Tier 1 capital to risk weighted assets First Busey $ 1,155,686 12.78 % $ 542,640 6.00 % $ 723,521 8.00 % Busey Bank $ 1,306,716 14.49 % $ 540,981 6.00 % $ 721,308 8.00 % Total capital to risk weighted assets First Busey $ 1,457,994 16.12 % $ 723,521 8.00 % $ 904,401 10.00 % Busey Bank $ 1,384,024 15.35 % $ 721,308 8.00 % $ 901,635 10.00 % Leverage ratio of Tier 1 capital to average assets First Busey $ 1,155,686 9.45 % $ 489,124 4.00 % N/A N/A Busey Bank $ 1,306,716 10.72 % $ 487,541 4.00 % $ 609,426 5.00 % Capital Conservation Buffer In July 2013, U.S. federal banking authorities approved the Basel III Rule for strengthening international capital standards. The Basel III Rule introduced a capital conservation buffer, composed entirely of common equity Tier 1 capital, which is added to the minimum risk-weighted asset ratios. The capital conservation buffer is not a minimum capital requirement; however, banking institutions with a ratio of common equity Tier 1 capital to risk-weighted assets below the capital conservation buffer will face constraints on dividends, equity repurchases, and discretionary bonus payments based on the amount of the shortfall. In order to refrain from restrictions on dividends, equity repurchases, and discretionary bonus payments, banking institutions must maintain minimum ratios of (1) common equity Tier 1 capital to risk-weighted assets of at least 7.0%, (2) Tier 1 capital to risk-weighted assets of at least 8.5%, and (3) total capital to risk-weighted assets of at least 10.5%. Subsidiary Dividend Payments First Busey Corporation’s ability to pay cash dividends to its stockholders and to service its debt is dependent on the receipt of cash dividends from its subsidiaries. Under applicable regulatory requirements, an Illinois state-chartered bank, such as Busey Bank, may not pay dividends in excess of its net profits. Busey Bank paid $90.0 million, $95.0 million, and $60.0 million in dividends to First Busey Corporation during the years ended December 31, 2023, 2022, and 2021, respectively.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 12. INCOME TAXES Components of Busey’s income tax expense consist of the following (dollars in thousands) : Years Ended December 31, 2023 2022 2021 Income tax expense Current expense: Federal $ 20,139 $ 20,815 $ 20,261 State 14,120 13,883 8,448 Deferred expense: Federal (1,557) (700) 3,644 State (1,363) (572) 1,021 Total income tax expense $ 31,339 $ 33,426 $ 33,374 A reconciliation of federal and state income taxes at statutory rates to Busey’s income taxes included in the accompanying Consolidated Statements of Income is as follows: Years Ended December 31, 2023 2022 2021 Percent of pretax income Income tax at federal statutory rate 21.0 % 21.0 % 21.0 % Effect of: Tax-exempt interest, net (1.0) % (1.1) % (1.1) % Stock incentive 0.2 % 0.1 % — % State income taxes, net 6.5 % 6.5 % 4.5 % Income on bank owned life insurance (0.6) % (0.5) % (0.7) % Tax credit investments (6.0) % (5.6) % (3.6) % Other, net 0.3 % 0.3 % 1.2 % Effective income tax rate 20.4 % 20.7 % 21.3 % Net deferred taxes, reported in other assets or other liabilities in Busey’s Consolidated Balance Sheets , include the following amounts of deferred tax assets and liabilities (dollars in thousands) : As of December 31, 2023 2022 Deferred taxes Deferred tax assets: ACL $ 27,068 $ 26,979 Unrealized loss on cash flow hedge 6,654 8,365 Unrealized losses on securities available for sale, net 70,423 88,666 Unrealized losses on securities held to maturity 10,156 11,919 Stock-based compensation 5,767 5,504 Deferred compensation — 53 Purchase accounting adjustments 764 656 Accrued vacation 456 411 Lease liabilities 3,092 3,564 Employee costs 4,789 3,298 Unrealized loss on equity securities 75 — Other 67 376 Total deferred tax assets 129,311 149,791 Deferred tax liabilities: Basis in premises and equipment (2,830) (1,541) Affordable housing partnerships and other investments (8,341) (6,669) Purchase accounting adjustments (1,133) (1,207) Mortgage servicing assets (1,336) (2,132) Basis in core deposit, customer intangible assets, and asset purchase goodwill (4,709) (6,956) Deferred loan origination costs (3,691) (3,845) Right of use assets (3,015) (3,518) Unrealized gain on equity securities — (512) Other (251) (586) Total deferred tax liabilities (25,306) (26,966) Net deferred tax asset $ 104,005 $ 122,825 Management believes that it is more likely than not that the other deferred tax assets included in the accompanying Consolidated Balance Sheets will be fully realized. Busey has determined that no valuation allowance is required for any deferred tax assets as of December 31, 2023, or 2022.

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	12 Months Ended
	Dec. 31, 2023
Employee Benefit Plans
EMPLOYEE BENEFIT PLANS	NOTE 13. EMPLOYEE BENEFIT PLANS 401(k) Plan Busey provides retirement benefits under its 401(k) Plan. All Busey associates who meet certain age requirements are eligible to participate in the 401(k) Plan. There is no waiting period for participation in the 401(k) Plan. The 401(k) Plan is funded primarily through participant contributions via payroll deductions. The 401(k) Plan offers two contribution options: (1) the traditional option allows plan participants to elect pre-tax contributions, and (2) the Roth option allows plan participants to elect after tax contributions. Plan participants may elect to make traditional and/or Roth 401(k) contributions, up to the annual deferral and catch-up limits established by the Internal Revenue Service. Busey supplements participant contributions by making Safe Harbor matching and discretionary profit sharing contributions to the 401(k) Plan. Safe Harbor Match Busey makes Safe Harbor matching contributions to the 401(k) Plan equal to 100% of the first 3% of eligible participant contributions and 50% of the next 2% of eligible participant contributions. The rights of participants in Safe Harbor matching contributions vest immediately. Profit Sharing All associates who meet certain age and service requirements are eligible to participate in Busey's profit-sharing contributions. Discretionary profit-sharing contributions and related expenses, if any, are approved solely by the First Busey Corporation board of directors, and in no case may annual contributions be greater than the amounts deductible for federal income tax purposes for that year. The rights of participants in profit-sharing contributions vest ratably over a five-year period. 401(k) Plan Expenses Expenses related to Busey’s employee benefit plans, reported in salaries, wages, and employee benefits in the accompanying Consolidated Statements of Income , are summarized in the table below (dollars in thousands) : Years Ended December 31, 2023 2022 2021 401(k) Plan expenses Safe Harbor match expenses $ 3,745 $ 4,094 $ 3,708 Profit-sharing expenses 3,031 2,960 2,823 Total 401(k) Plan expenses $ 6,776 $ 7,054 $ 6,531

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	NOTE 14. STOCK-BASED COMPENSATION Stock Options Busey has outstanding stock options that were issued under the First Community 2016 Equity Incentive Plan and assumed from acquisitions. A summary of the status of, and changes in, Busey's stock option awards follows (dollars in thousands, except weighted-average exercise price) : Options Shares Weighted- Weighted- Intrinsic Outstanding at December 31, 2022 26,106 $ 23.53 3.88 $ 31 Forfeited (4,840) 23.53 Outstanding at December 31, 2023 21,266 23.53 2.88 27 Exercisable at December 31, 2023 21,266 23.53 2.88 27 2020 Equity Plan The 2020 Equity Plan was originally approved by stockholders at the 2020 Annual Meeting of Stockholders. A description of the 2020 Equity Plan, as originally approved, can be found in Appendix A within Busey’s Proxy Statement for the 2020 Annual Meeting of Stockholders filed on April 9, 2020 . An amendment and restatement of the 2020 Equity Plan was approved by stockholders at the 2023 Annual Meeting of Stockholders. Terms of the amended and restated 2020 Equity Plan are substantially identical to those of the originally approved 2020 Equity Plan, other than a 1,350,000 increase in the number of shares authorized for issuance under the plan. More information can be found in Appendix A within Busey’s Proxy Statement for the 2023 Annual Meeting of Stockholders filed on April 14, 2023 . Under the terms of the 2020 Equity Plan, Busey has granted RSU, PSU, and DSU awards. Upon vesting and delivery, shares are expected, though not required, to be issued from treasury. A description of RSU, PSU, and DSU awards granted in 2023 under the terms of the 2020 Equity Plan is provided below. A description of RSU, PSU, and DSU awards granted in 2022 and 2021 under the terms of the 2020 Equity Plan can be found in Busey’s Annual Reports for the years ended December 31, 2022, and 2021, respectively. Busey issued 132,091 treasury shares in conjunction with the vesting of RSUs and PSUs, and settlement of DSUs in 2023. The difference between the number of shares issued and the number of vested units is due to shares issued under a net share settlement option. There were 1,723,343 shares available for issuance under the 2020 Equity Plan as of December 31, 2023. RSU Awards Busey grants RSU awards to members of management periodically throughout the year. RSU awards are stock-based awards for which vesting is conditional upon meeting established service criteria. Each RSU is equivalent to one share of Busey’s common stock. Busey’s RSUs have requisite service periods ranging from one year to five years, and are subject to accelerated vesting upon eligible retirement from Busey. Recipients earn quarterly dividend equivalents on their respective RSUs, which entitle the recipients to additional units. Therefore, dividends earned each quarter compound based upon the updated unit balances. On March 22, 2023, under the terms of the 2020 Equity Plan, Busey granted 224,316 RSUs to members of management. The grant date fair value of the award was $4.6 million, which will be recognized as compensation expense over the requisite service period ranging from one year to five years. The terms of these awards included an accelerated vesting provision upon eligible retirement from Busey, after a one-year minimum requisite service period. Subsequent to the requisite service period, the awards will become 100% vested. A summary of changes in Busey’s RSU awards for the year ended December 31, 2023, is as follows: RSU Awards Shares Weighted- Nonvested at December 31, 2022 1,096,931 $ 23.61 Granted 224,316 20.44 Dividend equivalents earned 58,930 20.16 Vested (154,995) 29.71 Forfeited (183,738) 22.33 Nonvested at December 31, 2023 1,041,444 $ 22.05 PSU Awards Busey grants PSU awards to members of management periodically throughout the year. PSU awards are stock-based awards for which vesting is conditional upon meeting established performance criteria. Each PSU is equivalent to one share of Busey’s common stock. The number of PSUs that ultimately vest will be determined based on the extent to which market or other performance goals are achieved. Busey’s PSUs are subject to accelerated service-based vesting conditions upon eligible retirement from Busey. After performance determination, dividend equivalents are compounded based upon the updated PSU balances at each dividend date during the performance period. On March 22, 2023, under the terms of the 2020 Equity Plan, Busey granted a target of 104,643 PSUs with a maximum award of 167,429 units. The actual number of units issued at the vesting date could range from 0% to 160% of the initial grant, depending on attaining a market-based total stockholder return performance goal. The grant date fair value of the award was $2.0 million, which will be recognized in compensation expense over the performance period ending December 31, 2025. On March 22, 2023, under the terms of the 2020 Equity Plan, Busey granted a target of 104,643 PSUs with a maximum award of 167,429 units. The actual number of units issued at the vesting date could range from 0% to 160% of the initial grant, depending on attaining an adjusted return on average tangible common equity performance goal. The grant date fair value of the award was $2.1 million, which will be recognized in compensation expense over the performance period ending December 31, 2025. The actual amount of compensation expense recognized is subject to adjustment based on the extent to which performance goals are expected to be achieved. On March 22, 2023, under the terms of the 2020 Equity Plan, Busey granted a target of 15,045 PSUs with a maximum award of 30,090 units. The actual number of units issued at the vesting date could range from 0% to 200% of the initial grant, depending on attaining a performance goal based upon the compounded annual revenue growth rate of the FirsTech operating segment. The grant date fair value of the award was $0.3 million, which will be recognized in compensation expense over the performance period ending December 31, 2025. The actual amount of compensation expense recognized is subject to adjustment based on the extent to which performance goals are expected to be achieved. A summary of changes in Busey’s PSU awards for the year ended December 31, 2023, is as follows: PSU Awards Shares 1 Weighted- Nonvested at December 31, 2022 285,351 $ 25.40 Granted 224,331 20.04 Dividend equivalents earned 1,728 23.28 Vested (83,399) 23.86 Forfeited (88,923) 23.80 Adjustment for performance conditions 2 2,612 25.52 Nonvested at December 31, 2023 341,700 $ 22.67 Vested and outstanding at December 31, 2023³ 65,996 $ 23.48 ___________________________________________ 1. Shares for PSU awards represent target shares at grant date. 2. Adjustments for performance conditions represent the difference between the number of target shares at grant date and the number of actual shares earned for the performance period completed. 3. PSUs granted in 2021 vested on December 31, 2023. Shares are reported at target amounts. Performance determination and settlement activity will take place in the first quarter of 2024. DSU Awards Busey grants DSU awards to its directors and advisory directors. DSU awards are stock-based awards with a deferred settlement date. Each DSU is equivalent to one share of Busey’s common stock. DSUs vest over a one-year period following the grant date. Under the 2020 Equity Plan, DSUs are generally subject to the same terms as RSUs, except that following vesting of DSUs, settlement occurs within 30 days following the earlier of separation from the board or a change in control of the Company. After vesting and prior to delivery, DSUs will continue to earn dividend equivalents. On March 22, 2023, under the terms of the 2020 Equity Plan, Busey granted 41,548 DSUs to directors and advisory directors. The grant date fair value of the award totaled $0.8 million and will be recognized as compensation expense over the requisite service period of one year. Subsequent to the requisite service period, the awards will become 100% vested. A summary of changes in Busey’s DSU awards for the year ended December 31, 2023, is as follows: DSU Awards Shares Weighted- Nonvested at December 31, 2022 31,085 $ 25.75 Granted 41,548 20.44 Dividend equivalents earned 8,334 20.09 Vested (37,868) 24.76 Forfeited (73) 20.44 Nonvested at December 31, 2023 43,026 $ 20.41 Vested and outstanding at December 31, 2023 144,137 $ 23.52 2021 Employee Stock Purchase Plan The 2021 ESPP was approved at Busey’s 2021 Annual Meeting of Stockholders. The purpose of the 2021 ESPP is to provide a means through which our employees may acquire a proprietary interest in Busey by purchasing shares of our common stock at a 15% discount through voluntary payroll deductions, to assist us in retaining the services of our employees and securing and retaining the services of new employees, and to provide incentives for our employees to exert maximum efforts toward our success. Under the terms of the 2021 ESPP, all participating employees have equal rights and privileges. Substantially all of our employees are eligible to participate in the 2021 ESPP. Further details can be found in Appendix A within Busey’s Definitive Proxy Statement filed with the SEC on April 8, 2021 . The 2021 ESPP initially reserved for issuance and purchase an aggregate of 600,000 shares of Busey’s common stock. The first offering under the 2021 ESPP began on July 1, 2021. There were 452,379 shares available for issuance under the 2021 ESPP as of December 31, 2023. Stock-Based Compensation Expense Busey did not record any stock option compensation expense for the years ended December 31, 2023, 2022, or 2021. Busey did not have any unrecognized stock option compensation expense as of December 31, 2023. Busey recognized compensation expense related to non-vested RSU, PSU, and DSU awards, as well as the 2021 ESPP, as summarized in the table below (dollars in thousands) : Years Ended December 31, 2023 2022 2021 Stock-based compensation expense RSU awards $ 2,622 $ 4,648 $ 5,809 PSU awards 1 2,962 3,240 979 DSU awards 833 876 962 2021 ESPP 178 204 114 Total stock-based compensation expense $ 6,595 $ 8,968 $ 7,864 ___________________________________________ 1. Expense for PSU awards with a market-based total stockholder return performance goal represents amounts based on target shares at the grant date. Expense for PSU awards with return on average tangible common equity and compounded annual revenue growth rate performance goals represents amounts based on target shares at the grant date, adjusted for performance expectations as of the date indicated. Unamortized stock-based compensation expense is presented in the table below (dollars in thousands) : As of December 31, 2023 2022 Unamortized stock-based compensation RSU awards $ 6,842 $ 8,570 PSU awards 1 3,607 4,279 DSU awards 190 175 Total unamortized stock-based compensation $ 10,639 $ 13,024 Weighted average period over which expense is to be recognized 2.4 years 2.5 years ___________________________________________ 1. Unamortized expense for PSU awards with a market-based total stockholder return performance goal represents amounts based on target shares at grant date. Unamortized expense for PSU awards with return on average tangible common equity and compounded annual revenue growth rate performance goals represents amounts based on target shares at grant date, adjusted for performance expectations as of the date indicated.

TRANSACTIONS WITH RELATED PARTI

TRANSACTIONS WITH RELATED PARTIES	12 Months Ended
	Dec. 31, 2023
Related Party Transactions [Abstract]
TRANSACTIONS WITH RELATED PARTIES	NOTE 15. TRANSACTIONS WITH RELATED PARTIES Busey has had, and may be expected to have in the future, banking transactions in the ordinary course of business with related parties which include directors, executive officers, chief credit officers, their immediate families, and affiliated companies in which they have 10% or more beneficial ownership, on the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with others. The following table presents changes in loans to related parties, as a group (dollars in thousands) : As of and for the Year Ended Balance of loans to related parties, December 31, 2022 $ 55,341 Change in relationship 9,247 New loans/advances 34,116 Repayments (21,055) Balance of loans to related parties, December 31, 2023 $ 77,649 Unused commitments to directors and executive officers $ 4,692 Loans to related parties did not include significant amounts that were past due, non-accrual, or modified.

OUTSTANDING COMMITMENTS AND CON

OUTSTANDING COMMITMENTS AND CONTINGENT LIABILITIES	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
OUTSTANDING COMMITMENTS AND CONTINGENT LIABILITIES	NOTE 16. OUTSTANDING COMMITMENTS AND CONTINGENT LIABILITIES Legal Matters Busey is a party to legal actions which arise in the normal course of its business activities. Legal and administrative proceedings are subject to inherent uncertainties, and while unfavorable outcomes could occur, Busey does not believe at this time that any potential liabilities relating to pending or potential legal matters are likely to have a material impact on Busey's results of operations or financial position. Credit Commitments and Contingencies A summary of the contractual amount of Busey’s exposure to off-balance-sheet risk relating to the Company’s commitments to extend credit and standby letters of credit follows (dollars in thousands) : As of December 31, 2023 2022 Financial instruments whose contract amounts represent credit risk Commitments to extend credit $ 2,132,500 $ 1,991,769 Standby letters of credit 43,996 33,008 Total commitments $ 2,176,496 $ 2,024,777 Franchise Tax Matter In 2021, Busey received an inquiry from the ISOS, pursuant to which the ISOS asked for additional information regarding certain of our franchise tax filings and the calculation of amounts due thereunder. The franchise tax is established by the Illinois Business Corporation Act (“BCA”) 805 ILCS 5/1 et seq., and is a tax imposed on foreign and domestic corporations for the privilege of conducting business in Illinois. Busey has been cooperating with the inquiry and has agreed to prepare additional BCA forms requested by the ISOS, with a full reservation of rights by Busey, including seeking judicial relief, if necessary, with respect to any potential dispute regarding Busey’s preparation of the BCA forms and the calculation of the franchise taxes due. Where a loss is believed to be reasonably possible, but not probable, or the loss cannot be reasonably estimated, as is the case with this matter, no accrual is required. It is reasonably possible that this matter could require us to pay additional taxes, including potential penalties and interest, or make other expenditures or accrue liabilities in amounts that could not be reasonably estimated as of December 31, 2023. If the likelihood of potential liabilities elevates, requiring an accrual, the potential future liabilities could be material in the period(s) in which they are recorded.

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	12 Months Ended
	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS	NOTE 17. DERIVATIVE FINANCIAL INSTRUMENTS Busey utilizes interest rate swap agreements as part of its asset liability management strategy to help manage its interest rate risk position. Additionally, Busey enters into derivative financial instruments, including interest rate lock commitments issued to residential loan customers for loans that will be held for sale; forward sales commitments to sell residential mortgage loans to investors; and interest rate swaps, risk participation agreements, and foreign currency exchange contracts with customers and other third parties. See “ Note 18. Fair Value Measurements ” for further discussion of the fair value measurement of such derivatives. To secure its obligations under derivative contracts, Busey pledged cash and held collateral as follows (dollars in thousands) : As of December 31, 2023 2022 Cash pledged to secure obligations under derivative contracts $ 34,210 $ 38,609 Collateral held to secure obligations under derivative contracts 19,280 29,830 Derivative Instruments Designated as Hedges Busey entered into derivative instruments designated as cash flow hedges. For a derivative instrument that is designated and qualifies as a cash flow hedge, the change in fair value of the derivative instrument is reported as a component of OCI and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Changes in fair value of components excluded from the assessment of effectiveness are recognized in current earnings. Interest Rate Swaps Designated as Cash Flow Hedges Interest rate swaps with notional amounts totaling $350.0 million as of both December 31, 2023, and December 31, 2022, were designated as cash flow hedges. Busey entered into one $50.0 million interest rate swap to hedge the risks of variability in cash flows for future interest payments attributable to changes in the contractually specified 3-month LIBOR benchmark interest rate on Busey’s junior subordinated debt owed to unconsolidated trusts (“Debt Swap”). In addition, Busey entered into one $300.0 million receive fixed pay floating interest rate swap to reduce Busey's asset sensitivity (“Loan Swap”). Duration was added to our loan portfolio by fixing a portion of our floating prime-based loans. Interest rates had risen above their historical lows allowing Busey to lock in a portion of its loan portfolio to reduce asset sensitivity while creating a more stable margin in a volatile rate market. These hedges were determined to be highly effective during the period, and Busey expects its hedges to remain highly effective during the remaining terms of the swaps. Changes in fair value were recorded net of tax in OCI. A summary of the interest-rate swaps designated as cash flow hedges is presented below (dollars in thousands) : As of December 31, Location 2023 2022 Debt Swap Notional amount $ 50,000 $ 50,000 Weighted average fixed pay rates 1.79 % 1.79 % Weighted average variable 3-month LIBOR receive rates 5.61 % 4.77 % Weighted average maturity 0.71 years 1.71 years Loan Swap Notional amount $ 300,000 $ 300,000 Weighted average fixed receive rates 4.81 % 4.81 % Weighted average variable Prime pay rates 8.50 % 7.32 % Weighted average maturity 5.10 years 6.10 years Gross aggregate fair value of the swaps Gross aggregate fair value of swap assets Other assets $ 1,293 $ 2,535 Gross aggregate fair value of swap liabilities Other liabilities $ 25,411 $ 32,367 Balances carried in AOCI Unrealized gains (losses) on cash flow hedges, net of tax AOCI $ (16,694) $ (20,985) Busey expects to reclassify unrealized gains and losses from OCI to interest income and interest expense as shown in the following table, during the next 12 months (dollars in thousands) . Amounts actually recognized could differ from these expectations due to changes in interest rates, hedge de-designations, and the addition of other hedges subsequent to December 31, 2023. As of Unrealized gains (losses) in OCI expected to be recognized in income Unrealized losses expected to be reclassified from OCI to interest income $ (952) Unrealized gains expected to be reclassified from OCI to interest expense 483 Net unrealized gains (losses) in OCI expected to be recognized in net interest income $ (469) Interest income (expense) recorded on swap transactions was as follows for the periods presented (dollars in thousands) : Years Ended December 31, 2023 2022 2021 Interest on swap transactions Increase (decrease) in interest income on swap transactions $ (10,326) $ (553) $ — (Increase) decrease in interest expense on swap transactions 1,757 (30) (1,067) Net increase (decrease) in net interest income on swap transactions $ (8,569) $ (583) $ (1,067) The following table reflects the net gains (losses) recorded in AOCI and the Consolidated Statements of Comprehensive Income relating to cash flow derivative instruments for the periods presented (dollars in thousands) : Years Ended December 31, 2023 2022 2021 Unrealized gains (losses) on cash flow hedges Net gain (loss) recognized in OCI, net of tax $ (1,835) $ (20,717) $ 736 (Gain) loss reclassified from OCI to interest income, net of tax 7,382 395 — (Gain) loss reclassified from OCI to interest expense, net of tax (1,256) 22 763 Net change in unrealized gains (losses) on cash flow hedges, net of tax $ 4,291 $ (20,300) $ 1,499 Derivative Instruments Not Designated as Hedges Interest Rate Swaps Busey may offer derivative contracts to its customers in connection with their risk management needs. Busey manages the risk associated with these contracts by entering into equal and offsetting derivative agreements with a third-party dealer. These contracts supported variable rate, commercial loan relationships totaling $663.1 million and $576.9 million as of December 31, 2023, and 2022, respectively. These derivatives generally worked together as an economic interest rate hedge, but Busey did not designate them for hedge accounting treatment. Consequently, changes in fair value of the corresponding derivative financial asset or liability were recorded as either a charge or credit to current earnings during the period in which the changes occurred. Amounts and fair values of derivative assets and liabilities related to customer interest rate swaps, included in other assets and other liabilities in the Consolidated Balance Sheets , are summarized as follows (dollars in thousands) : As of December 31, 2023 Derivative Asset Derivative Liability Notional Fair Notional Fair Derivatives not designated as hedging instruments Interest rate swaps – pay floating, receive fixed $ 177,883 $ 2,375 $ 485,253 $ 26,289 Interest rate swaps – pay fixed, receive floating 485,253 26,289 177,883 2,375 Total derivatives not designated as hedging instruments $ 663,136 $ 28,664 $ 663,136 $ 28,664 As of December 31, 2022 Derivative Asset Derivative Liability Notional Fair Notional Fair Derivatives not designated as hedging instruments Interest rate swaps – pay floating, receive fixed $ 48,728 $ 370 $ 528,183 $ 39,685 Interest rate swaps – pay fixed, receive floating 528,183 39,685 48,728 370 Total derivatives not designated as hedging instruments $ 576,911 $ 40,055 $ 576,911 $ 40,055 Changes in fair value of these derivative assets and liabilities were recorded in noninterest expense in the Consolidated Statements of Income and are summarized as follows (dollars in thousands) : Years Ended December 31, Location 2023 2022 2021 Interest rate swaps Pay floating, receive fixed Noninterest expense $ (11,525) $ 19,308 $ (12,587) Pay fixed, receive floating Noninterest expense 11,525 (19,308) 12,587 Net change in fair value of interest rate swaps $ — $ — $ — Risk Participation Agreements To manage the credit risk exposure related to customer-facing swaps, Busey entered into risk participation agreements in conjunction with loan participation arrangements with other financial institutions. Under these risk participation agreements, Busey purchased a portion of the credit exposure, paying an up-front fee, and will receive a payment from the counterparty if the loan customer defaults on its obligations. Busey also entered into a risk participation agreement under which Busey sold a portion of its credit exposure, receiving an up-front fee, and will be required to make a payment to the counterparty if the loan customer defaults on its obligations. The notional amount of the risk participation agreements reflect Busey's pro-rata share of the derivative instrument, consistent with its share of the related participated loan. The risk participation agreements mature between 2024 and 2029, and are summarized as follows (dollars in thousands) : As of December 31, 2023 2022 Risk participation agreements purchased Number of risk participation agreements 3 2 Notional amount $ 34,251 $ 18,899 Fair value 15 5 Risk participation agreements sold Number of risk participation agreements 1 — Notional amount $ 20,001 — Fair value — — Foreign Currency Forward Contracts In 2023, Busey entered into foreign currency exchange contracts to support the business requirements of its customers. Foreign currency contracts involve the exchange of one currency for another on a specified date and at a specified rate. These contracts were executed on behalf of Busey's customers and were used by customers to manage fluctuations in foreign exchange rates. Busey minimized its exposure by entering into similar offsetting positions with other financial institutions. Busey was subject to the credit risk that another party would fail to perform. As of December 31, 2023, Busey had no derivative assets or derivative liabilities related to foreign currency contracts recorded in its Consolidated Balance Sheets . Mortgage Banking Derivatives Interest Rate Lock Commitments Interest rate lock commitments that meet the definition of derivative financial instruments under ASC Topic 815 “Derivatives and Hedging” are carried at their fair values in other assets or other liabilities in the Consolidated Balance Sheets , with changes in the fair values of the corresponding derivative financial assets or liabilities recorded as either a charge or credit to current earnings during the period in which the changes occurred. Forward Sales Commitments Busey economically hedges mortgage loans held for sale and interest rate lock commitments issued to its residential loan customers related to loans that will be held for sale by obtaining corresponding forward sales commitments with an investor to sell the loans at an agreed-upon price at the time the interest rate locks are issued to the customers. Forward sales commitments that meet the definition of derivative financial instruments under ASC Topic 815 “Derivatives and Hedging” are carried at their fair values in other assets or other liabilities in the Consolidated Balance Sheets . While such forward sales commitments generally served as an economic hedge to mortgage loans held for sale and interest rate lock commitments, Busey did not designate them for hedge accounting treatment. Changes in fair value of the corresponding derivative financial asset or liability were recorded as either a charge or credit to current earnings during the period in which the changes occurred. Amounts and fair values of mortgage banking derivatives included in the Consolidated Balance Sheets are summarized as follows (dollars in thousands) : As of December 31, 2023 As of December 31, 2022 Location Notional Fair Notional Fair Mortgage banking derivative assets Interest rate lock commitments Other assets $ 3,477 $ 25 $ 1,517 $ 16 Forward sales commitments Other assets 1,761 11 83 1 Mortgage banking derivative assets $ 5,238 $ 36 $ 1,600 $ 17 Mortgage banking derivative liabilities Interest rate lock commitments Other liabilities $ 1,615 $ 10 $ 83 $ 1 Forward sales commitments Other liabilities 5,216 47 2,757 39 Mortgage banking derivative liabilities $ 6,831 $ 57 $ 2,840 $ 40 Net gains (losses) relating to these derivative instruments are summarized as follows for the periods presented (dollars in thousands) : Years Ended December 31, Location 2023 2022 2021 Net gains (losses) Interest rate lock commitments Mortgage revenue $ — $ 15 $ 1,702 Forward sales commitments Mortgage revenue 2 (38) (4,045) Net gains (losses) $ 2 $ (23) $ (2,343) In 2021, the impact of the net gains or losses recognized in earnings on interest rate lock commitments and forward sales commitments was almost entirely offset by the recognition of a corresponding change in the fair value of loans held for sale. In 2022, Busey began carrying loans held for sale at LOCOM, so while Busey will continue to recognize gains or losses on these mortgage banking derivative instruments in earnings, any corresponding increase in the fair value of loans held for sale will not be recognized in earnings until the loans are sold, at which time the increase is factored into the calculated gain on sale. Decreases in the market value of loans held for sale will continue to be recognized in earnings at each measurement period.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	NOTE 18. FAIR VALUE MEASUREMENTS The fair value of an asset or liability is the price that would be received by selling that asset or paid in transferring that liability (exit price) in an orderly transaction occurring in the principal market (or most advantageous market in the absence of a principal market) for such asset or liability. ASC Topic 820 “Fair Value Measurement” establishes a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows: • Level 1 Inputs – Unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. • Level 2 Inputs – Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These might include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (such as interest rates, volatilities, prepayment speeds, credit risks, etc.) or inputs that are derived principally from or corroborated by market data by correlation or other means. • Level 3 Inputs – Unobservable inputs for determining the fair values of assets or liabilities that reflect the Company’s own assumptions about the assumptions that market participants would use in pricing the assets or liabilities. A description of the valuation methodologies used for instruments measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy, is set forth below. These valuation methodologies were applied to Busey’s assets and liabilities that are carried at fair value. In general, fair value is based upon quoted market prices, when available. If such quoted market prices are not available, fair values are measured utilizing independent valuation techniques of identical or similar securities for which significant assumptions are derived primarily from or corroborated by observable data. Valuation adjustments may be made to ensure that financial instruments are recorded at fair value. These adjustments may include amounts to reflect, among other things, counterparty credit quality and the company's creditworthiness as well as unobservable parameters. Any such valuation adjustments are applied consistently over time. While management believes Busey's valuation methodologies are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date. Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis Debt Securities Available for Sale Debt securities classified as available for sale are reported at fair value utilizing Level 2 inputs. Busey obtains fair value measurements from an independent pricing service. The independent pricing service utilizes evaluated pricing models that vary by asset class and incorporate available trade, bid, and other market information. Because many fixed income securities do not trade on a daily basis, the independent pricing service applies available information, focusing on observable market data such as benchmark curves, benchmarking of like securities, sector groupings, and matrix pricing, to prepare evaluations. The independent pricing service uses model processes, such as the Option Adjusted Spread model, to assess interest rate impact and develop prepayment scenarios. Models and processes take into account market conventions. For each asset class, a team of evaluators gathers information from market sources and integrates relevant credit information, perceived market movements, and sector news into the evaluated pricing applications and models. Market inputs that the independent pricing service normally seeks for evaluations of securities, listed in approximate order of priority, include: benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, and reference data including market research publications. The independent pricing service also monitors market indicators, industry, and economic events. For certain security types, additional inputs may be used or some of the market inputs may not be applicable. Evaluators may prioritize inputs differently on any given day for any security based on market conditions, and not all inputs listed are available for use in the evaluation process for each security evaluation on a given day. Because the data utilized was observable, the securities have been classified as Level 2. Equity Securities Equity securities are reported at fair value utilizing Level 1 or Level 2 inputs. Fair value measurements of mutual funds, when held, are determined using unadjusted quoted prices in active markets for identical assets at the measurement date and are classified as Level 1. For stock, quoted prices for identical or similar assets in markets that are not active are utilized and classified as Level 2. Derivative Assets and Derivative Liabilities The majority of our derivative assets and derivative liabilities are reported at fair value utilizing Level 2 or Level 3 inputs. Derivative balances are included in other assets or other liabilities on the Consolidated Balance Sheets , and consist of interest rate swaps and risk participation agreements where there is no significant deterioration in the counterparties (loan customers) credit risk since origination of the interest rate swap or risk participation agreement, as well as mortgage banking derivatives, including interest rate lock commitments and forward sales commitments. Fair values of derivative assets and liabilities are determined based on prices that are obtained from a third-party which uses observable market inputs and, with the exception of our risk participation agreements, are classified as Level 2. For purposes of potential valuation adjustments to our derivative positions, Busey evaluates the credit risk of its counterparties as well as its own credit risk. Accordingly, Busey has considered factors such as the likelihood of default, expected loss given default, net exposures, and remaining contractual life, among other things, in determining if any estimated fair value adjustments related to credit risk are required. Busey reviews counterparty exposure quarterly, and when necessary, appropriate adjustments are made to reflect the exposure. No changes in counterparty credit were identified. Due to the significance of unobservable inputs, derivative assets related to our risk participation agreements are classified as Level 3. The following tables summarize financial assets and financial liabilities measured at fair value on a recurring basis as of December 31, 2023, and 2022, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value (dollars in thousands) : As of December 31, 2023 Level 1 Level 2 Level 3 Total Debt securities available for sale: U.S. Treasury securities $ — $ 15,946 $ — $ 15,946 Obligations of U.S. government corporations and agencies — 5,832 — 5,832 Obligations of states and political subdivisions — 172,845 — 172,845 Asset-backed securities — 468,223 — 468,223 Commercial mortgage-backed securities — 103,509 — 103,509 Residential mortgage-backed securities — 1,111,312 — 1,111,312 Corporate debt securities — 209,904 — 209,904 Equity securities 448 9,364 — 9,812 Derivative assets — 29,993 15 30,008 Derivative liabilities — 54,132 — 54,132 As of December 31, 2022 Level 1 Level 2 Level 3 Total Debt securities available for sale: U.S. Treasury securities $ — $ 114,061 $ — $ 114,061 Obligations of U.S. government corporations and agencies — 19,779 — 19,779 Obligations of states and political subdivisions — 257,512 — 257,512 Asset-backed securities — 469,875 — 469,875 Commercial mortgage-backed securities — 108,394 — 108,394 Residential mortgage-backed securities — 1,243,256 — 1,243,256 Corporate debt securities — 248,516 — 248,516 Equity securities — 11,535 — 11,535 Derivative assets — 42,607 5 42,612 Derivative liabilities — 72,462 — 72,462 Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis Certain financial assets and financial liabilities are measured at fair value on a non-recurring basis; that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment). Loans Evaluated Individually Busey does not record portfolio loans at fair value on a recurring basis. However, periodically, a loan is evaluated individually and is reported at the fair value of the underlying collateral, less estimated costs to sell, if repayment is expected solely from the collateral. If the collateral value is not sufficient, a specific reserve is recorded. Collateral values are estimated using a combination of observable inputs, including recent appraisals, and unobservable inputs based on customized discounting criteria. Due to the significance of unobservable inputs, fair values of individually evaluated collateral dependent loans have been classified as Level 3. Bank Property Held for Sale Bank property held for sale represents certain banking center office buildings which Busey has closed and consolidated with other existing banking centers. Bank property held for sale is measured at the lower of amortized cost or fair value less estimated costs to sell, and is included in premises and equipment, net on the Consolidated Balance Sheets . Fair values were based upon discounted appraisals or real estate listing prices. Due to the significance of unobservable inputs, fair values of all bank property held for sale have been classified as Level 3. The following tables summarize assets and liabilities measured at fair value on a non-recurring basis for the periods presented, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value (dollars in thousands) : As of December 31, 2023 Level 1 Level 2 Level 3 Total Loans evaluated individually, net of related allowance $ — $ — $ 1,000 $ 1,000 Bank property held for sale with impairment — — 4,286 4,286 As of December 31, 2022 Level 1 Level 2 Level 3 Total Loans evaluated individually, net of related allowance $ — $ — $ 5,345 $ 5,345 Bank property held for sale with impairment — — 7,923 7,923 The following table presents additional quantitative information about assets measured at fair value on a non-recurring basis for which the Company has utilized Level 3 inputs to determine fair value (dollars in thousands) : As of December 31, 2023 Fair Value Valuation Unobservable Range Loans evaluated individually, net of related allowance $ 1,000 Appraisal of collateral Appraisal adjustments -41.2% to -100.0% (-47.2)% Bank property held for sale with impairment 4,286 Appraisal of collateral or real estate listing price Appraisal adjustments -6.2% to -64.9% (-38.4)% As of December 31, 2022 Fair Value Valuation Unobservable Range Loans evaluated individually, net of related allowance $ 5,345 Appraisal of collateral Appraisal adjustments -22.7% to -100.0% (-45.7)% Bank property held for sale with impairment 7,923 Appraisal of collateral or real estate listing price Appraisal adjustments -0.7% to -70.1% (-35.1)% Financial Assets and Financial Liabilities That Are Not Carried at Fair Value Estimated fair values of financial instruments that are not carried at fair value in the Company’s Consolidated Balance Sheets, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value, were as follows (dollars in thousands) : As of December 31, 2023 As of December 31, 2022 Carrying Fair Carrying Fair Financial assets Level 1 inputs: Cash and cash equivalents $ 719,581 $ 719,581 $ 227,164 $ 227,164 Level 2 inputs: Debt securities held to maturity 872,628 730,397 918,312 785,295 Loans held for sale 2,379 2,401 1,253 1,276 Accrued interest receivable 45,288 45,288 43,372 43,372 Level 3 inputs: Portfolio loans, net 7,559,294 7,276,905 7,634,094 7,320,422 Mortgage servicing rights 3,289 18,079 5,861 18,284 Other servicing rights 1,597 2,062 1,914 2,331 Financial liabilities Level 2 inputs: Time deposits $ 1,819,274 $ 1,804,905 $ 855,375 $ 830,596 Securities sold under agreements to repurchase 187,396 187,396 229,806 229,806 Short-term borrowings 12,000 12,034 351,054 351,085 Long-term debt 18,000 18,020 30,000 30,052 Junior subordinated debt owed to unconsolidated trusts 71,993 57,153 71,810 59,111 Accrued interest payable 28,418 28,418 3,978 3,978 Level 3 inputs: Subordinated notes, net of unamortized issuance costs 222,882 200,000 222,038 208,562

EARNINGS PER SHARE

EARNINGS PER SHARE	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
EARNINGS PER SHARE	NOTE 19. EARNINGS PER SHARE Basic earnings per share is computed by dividing net income for the period by the weighted average number of common shares outstanding, which include DSUs that are vested but not delivered. Diluted earnings per common share is computed using the treasury stock method and reflects the potential dilution that could occur if Busey’s outstanding stock options and warrants were exercised, stock units were vested, and shares were issued under the 2021 ESPP. Earnings per common share have been computed as follows (dollars in thousands, except per share amounts) : Years Ended December 31, 2023 2022 2021 Net income $ 122,565 $ 128,311 $ 123,449 Weighted average number of common shares outstanding, basic 55,432,322 55,387,073 55,369,476 Dilutive effect of common stock equivalents: Options — 1,632 1,639 Warrants 324 1,753 1,753 RSU awards 647,217 665,998 615,759 PSU awards 151,190 58,206 5,429 DSU awards 18,154 15,532 10,641 2021 ESPP 6,941 6,970 4,108 Weighted average number of common shares outstanding, diluted 56,256,148 56,137,164 56,008,805 Basic earnings per common share $ 2.21 $ 2.32 $ 2.23 Diluted earnings per common share 2.18 2.29 2.20 Average shares that were excluded from the computation of diluted earnings per common share because their effect would have been anti-dilutive are summarized in the table below for the periods presented: Years Ended December 31, 2023 2022 2021 Anti-dilutive common stock equivalents Options 21,981 7,792 — RSU awards 39,445 38,912 65,058 PSU awards 106,955 189,000 93,026 DSU awards — — 7,742 Total anti-dilutive common stock equivalents 168,381 235,704 165,826

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	12 Months Ended
	Dec. 31, 2023
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent, Alternative [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	NOTE 20. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following tables present changes in AOCI by component, net of tax, for the periods below (dollars in thousands) : Year Ended December 31, 2023 Before Tax Tax Effect Net of Tax Unrealized/Unrecognized gains (losses) on debt securities Balance at beginning of period $ (352,878) $ 100,585 $ (252,293) Unrealized holding gains (losses) on debt securities available for sale, net 58,498 (16,674) 41,824 Amounts reclassified from AOCI, net 5,503 (1,569) 3,934 Amortization of unrecognized losses on securities transferred to held to maturity 6,189 (1,763) 4,426 Balance at end of period $ (282,688) $ 80,579 $ (202,109) Unrealized gains (losses) on cash flow hedges Balance at beginning of period $ (29,350) $ 8,365 $ (20,985) Unrealized holding gains (losses) on cash flow hedges, net (2,567) 732 (1,835) Amounts reclassified from AOCI, net 8,569 (2,443) 6,126 Balance at end of period $ (23,348) $ 6,654 $ (16,694) Total AOCI $ (306,036) $ 87,233 $ (218,803) Year Ended December 31, 2022 Before Tax Tax Effect Net of Tax Unrealized/Unrecognized gains (losses) on debt securities Balance at beginning of period $ (32,272) $ 9,199 $ (23,073) Unrealized holding gains (losses) on debt securities available for sale, net (278,762) 79,460 (199,302) Unrecognized losses on debt securities transferred to held to maturity from available for sale (48,456) 13,812 (34,644) Amounts reclassified from AOCI, net (26) 7 (19) Amortization of unrecognized losses on securities transferred to held to maturity 6,638 (1,893) 4,745 Balance at end of period $ (352,878) $ 100,585 $ (252,293) Unrealized gains (losses) on cash flow hedges Balance at beginning of period $ (958) $ 273 $ (685) Unrealized holding gains (losses) on cash flow hedges, net (28,975) 8,258 (20,717) Amounts reclassified from AOCI, net 583 (166) 417 Balance at end of period $ (29,350) $ 8,365 $ (20,985) Total AOCI $ (382,228) $ 108,950 $ (273,278) Year Ended December 31, 2021 Before Tax Tax Effect Net of Tax Unrealized/Unrecognized gains (losses) on debt securities Balance at beginning of period $ 49,644 $ (14,151) $ 35,493 Unrealized holding gains (losses) on debt securities available for sale, net (81,977) 23,367 (58,610) Amounts reclassified from AOCI, net 61 (17) 44 Balance at end of period $ (32,272) $ 9,199 $ (23,073) Unrealized gains (losses) on cash flow hedges Balance at beginning of period $ (3,055) $ 871 $ (2,184) Unrealized holding gains (losses) on cash flow hedges, net 1,030 (294) 736 Amounts reclassified from AOCI, net 1,067 (304) 763 Balance at end of period $ (958) $ 273 $ (685) Total AOCI $ (33,230) $ 9,472 $ (23,758)

OPERATING SEGMENTS AND RELATED

OPERATING SEGMENTS AND RELATED INFORMATION	12 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
OPERATING SEGMENTS AND RELATED INFORMATION	NOTE 21. OPERATING SEGMENTS AND RELATED INFORMATION Busey has three reportable operating segments: Banking, Wealth Management, and FirsTech. Busey’s three operating segments are strategic business units that are separately managed, as they offer different products and services and have different marketing strategies. The Banking Operating Segment The Banking operating segment provides a full range of banking services to individual and corporate customers through First Busey Corporation’s wholly-owned bank subsidiary, Busey Bank, with 58 banking centers in Illinois; the St. Louis, Missouri, metropolitan area; southwest Florida; and Indianapolis, Indiana. Banking services offered to individual customers include customary types of demand and savings deposits, money transfers, safe deposit services, individual retirement accounts and other fiduciary services, automated teller machines, and technology-based networks, as well as a variety of loan products including residential real estate, home equity lines of credit, and consumer loans. Banking services offered to corporate customers include commercial, commercial real estate, real estate construction, and agricultural loans, as well as commercial depository services such as cash management. The Wealth Management Operating Segment The Wealth Management operating segment provides a full range of asset management, investment, brokerage, fiduciary, philanthropic advisory, tax preparation, and farm management services to individuals, businesses, and foundations. Services are provided through Busey Capital Management, Inc., a wholly-owned subsidiary of Busey Bank, and Busey Wealth Management, a division of Busey Bank. Wealth management services tailored to individuals include trust and estate advisory services and financial planning. Business services include business succession planning and employee retirement plan services. Services for foundations include investment strategy consulting and fiduciary services. The FirsTech Operating Segment The FirsTech operating segment provides comprehensive and innovative payment technology solutions through Busey Bank’s wholly-owned subsidiary, FirsTech. FirsTech's multi-channel payment platform allows businesses to collect payments from their customers in a variety of ways to enable fast, frictionless payments. Payment method vehicles include, but are not limited to, text-based mobile bill pay; interactive voice response; electronic payment concentration delivered to Automated Clearing House networks, money management, and credit card networks; walk-in payment processing for customers at retail pay agents; customer service payments made over a telephone; direct debit services; and lockbox remittance processing for customers to make payments by mail. FirsTech also provides additional tools to help clients with billing, reconciliation, bill reminders, and treasury services. FirsTech's client base represents a diverse set of industries, with a higher concentration in highly regulated industries, such as financial institutions, utility, insurance, and telecommunications industries. Segment Financial Information The segment financial information provided below has been derived from information used by management to monitor and manage Busey’s financial performance. The accounting policies of the three operating segments are the same as those described in the summary of significant accounting policies in “ Note 1. Significant Accounting Policies. ” Busey accounts for intersegment revenue and transfers at current market prices. Following is a summary of selected financial information for Busey’s operating segments. The “other” category included in the tables below consists of the parent company, First Busey Risk Management until its dissolution on December 18, 2023, and the elimination of intercompany transactions (dollars in thousands) : Goodwill Total Assets As of December 31, As of December 31, 2023 2022 2023 2022 Operating segment Banking $ 294,773 $ 294,773 $ 12,125,298 $ 12,199,960 Wealth Management 14,108 14,108 103,147 84,082 FirsTech 8,992 8,992 51,600 48,715 Other — — 3,370 3,920 Consolidated total $ 317,873 $ 317,873 $ 12,283,415 $ 12,336,677 Years Ended December 31, 2023 2022 2021 Net interest income Banking $ 335,345 $ 340,083 $ 285,678 FirsTech 54 65 79 Other (15,948) (16,710) (15,059) Total net interest income $ 319,451 $ 323,438 $ 270,698 Noninterest income Banking $ 46,701 $ 54,154 $ 59,393 Wealth Management 57,823 55,394 53,082 FirsTech 22,746 21,720 19,629 Other (4,886) (4,465) 700 Total noninterest income $ 122,384 $ 126,803 $ 132,804 Noninterest expense Banking $ 223,451 $ 221,997 $ 205,905 Wealth Management 33,081 31,545 29,198 FirsTech 21,653 20,619 17,574 Other 7,347 9,720 9,103 Total noninterest expense $ 285,532 $ 283,881 $ 261,780 Income before income taxes Banking $ 156,196 $ 167,617 $ 154,267 Wealth Management 24,742 23,849 23,884 FirsTech 1,147 1,166 2,134 Other (28,181) (30,895) (23,462) Total income before income taxes $ 153,904 $ 161,737 $ 156,823 Net income Banking $ 123,853 $ 131,596 $ 117,844 Wealth Management 18,804 18,543 18,570 FirsTech 830 847 1,527 Other (20,922) (22,675) (14,492) Total net income $ 122,565 $ 128,311 $ 123,449

PARENT COMPANY ONLY FINANCIAL I

PARENT COMPANY ONLY FINANCIAL INFORMATION	12 Months Ended
	Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract]
PARENT COMPANY ONLY FINANCIAL INFORMATION	NOTE 22. PARENT COMPANY ONLY FINANCIAL INFORMATION Condensed financial data for First Busey Corporation is presented below. CONDENSED BALANCE SHEETS (dollars in thousands) As of December 31, 2023 2022 Assets Cash and cash equivalents $ 100,098 $ 91,812 Debt securities 987 — Equity securities 9,364 11,535 Investments in subsidiaries: Bank 1,478,118 1,369,261 Non-bank — 2,181 Premises and equipment, net 7 18 Other assets 20,100 22,316 Total assets $ 1,608,674 $ 1,497,123 Liabilities and stockholders' equity Liabilities: Short-term borrowings $ 12,000 $ 12,000 Long-term debt 18,000 30,000 Subordinated notes, net of unamortized issuance costs 222,882 222,038 Junior subordinated debentures owed to unconsolidated trusts 71,993 71,810 Other liabilities 11,818 15,298 Total liabilities 336,693 351,146 Total stockholders' equity 1,271,981 1,145,977 Total liabilities and stockholders' equity $ 1,608,674 $ 1,497,123 CONDENSED STATEMENTS OF INCOME (dollars in thousands) Years Ended December 31, 2023 2022 2021 Operating income Dividends from subsidiaries: Bank $ 90,000 $ 95,000 $ 60,000 Non-bank 900 1,630 1,745 Income from dissolution of non-bank subsidiary 733 — — Interest income 2,956 1,094 79 Gains (losses) recognized on equity securities, net (2,171) (2,159) 3,041 Other income 14,130 15,195 12,109 Total operating income 106,548 110,760 76,974 Expense Salaries, wages, and employee benefits 17,766 20,964 17,914 Interest expense 19,005 17,854 15,163 Operating expense 8,009 7,294 7,429 Total expense 44,780 46,112 40,506 Income (loss) before income tax benefit and equity in undistributed (in excess of) net income of subsidiaries 61,768 64,648 36,468 Income tax benefit 7,310 8,286 8,974 Income (loss) before equity in undistributed (in excess of) net income of subsidiaries 69,078 72,934 45,442 Equity in undistributed (in excess of) net income of subsidiaries Bank 53,487 55,986 77,941 Non-bank — (609) 66 Net income $ 122,565 $ 128,311 $ 123,449 CONDENSED STATEMENTS OF CASH FLOWS (dollars in thousands) Years Ended December 31, 2023 2022 2021 Cash flows provided by (used in) operating activities Net income $ 122,565 $ 128,311 $ 123,449 Adjustments to reconcile net income to net cash provided by (used in) operating activities: Depreciation and amortization 1,038 1,423 882 Distributions more (less) than net income of subsidiaries (53,487) (55,377) (78,007) (Gains) losses recognized on equity securities, net 2,171 2,159 (3,041) Stock-based compensation 6,595 8,968 7,864 (Increase) decrease in other assets 6,253 (17,754) (1,186) Increase (decrease) in other liabilities (7,687) 21,233 (3,302) Net cash provided by (used in) operating activities 77,448 88,963 46,659 Cash flows provided by (used in) investing activities Sales (purchases) of equity securities, net — 598 (5,000) Net cash paid for acquisitions — — (61,656) Purchases of premises and equipment — (9) (15) Repayments of investments in subsidiaries 1,480 — — Net cash provided by (used in) investing activities 1,480 589 (66,671) Cash flows provided by (used in) financing activities Cash paid for withholding taxes on stock-based payments (1,093) (1,276) (997) Cash dividends paid (53,076) (50,863) (50,764) Repayments of borrowings (12,000) (112,000) (18,500) Proceeds from issuance of debt — 98,094 72,500 Proceeds from the exercise of stock options and warrants 9 — — Purchase of treasury stock (4,482) (9,912) (33,043) Common stock issuance costs — — (150) Net cash provided (used in) by financing activities (70,642) (75,957) (30,954) Net increase (decrease) in cash and cash equivalents 8,286 13,595 (50,966) Cash and cash equivalents, beginning of period 91,812 78,217 129,183 Cash and cash equivalents, ending of period $ 100,098 $ 91,812 $ 78,217

ACQUISITIONS

ACQUISITIONS	12 Months Ended
	Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract]
ACQUISITIONS	NOTE 23. ACQUISITIONS Merchants and Manufacturers Bank Corporation On November 27, 2023, First Busey Corporation announced the signing of a definitive agreement with M&M, pursuant to which Busey will acquire M&M and its wholly-owned subsidiary, M&M Bank, through a merger transaction. This partnership will add M&M’s Life Equity Loan ® products to Busey’s existing suite of services, and expand Busey’s presence in the Chicago Metropolitan Statistical Area. Under the terms of the merger agreement, M&M’s stockholders will have the right to receive for each share of M&M common stock, at the election of each stockholder and subject to proration and adjustment, either (1) $117.74 in cash, (2) 5.7294 shares of Busey common stock, or (3) mixed consideration of $34.55 in cash and 4.0481 shares of Busey common stock, with total consideration to consist of approximately 71% stock and 29% cash. Based upon Busey’s 20‑day volume-weighted average closing price as of November 24, 2023, the aggregate implied transaction value is approximately $41.6 million. The merger is expected to be finalized in the second quarter of 2024, subject to customary closing conditions and required approvals, including regulatory approvals and the approval of M&M’s stockholders. It is anticipated that M&M Bank will be merged with and into Busey Bank at a date following the completion of the merger. At the time of the bank merger, M&M Bank’s banking centers will become banking centers of Busey Bank, except for M&M’s banking center located at 990 Essington Rd., Joliet, Illinois, which is expected to be closed in connection with the bank merger. This transaction will be accounted for using the acquisition method of accounting and, accordingly, assets acquired, liabilities assumed, and consideration exchanged will be recorded at estimated fair values on the date of acquisition. Fair values will be subject to refinement for up to one year after the closing date as additional information regarding the closing date fair values becomes available. During 2023, Busey incurred $0.3 million in pre-tax acquisition expenses, comprised primarily of legal expenses, related to the planned acquisition of M&M.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net income	$ 122,565	$ 128,311	$ 123,449

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Nature of Operations	Nature of Operations First Busey Corporation is a financial holding company organized under the laws of Nevada. First Busey Corporation’s subsidiaries provide retail and commercial banking services and payment technology solutions, and offer a full range of financial products and services including depository, lending, security brokerage, investment management, and fiduciary services, to individual, corporate, institutional, and governmental customers through their locations in Illinois, Missouri, southwest Florida and Indianapolis, Indiana. First Busey Corporation and its subsidiaries are subject to the regulations of certain regulatory agencies and undergo periodic examinations by those regulatory agencies. Significant accounting and reporting policies for First Busey Corporation and its subsidiaries follow:
Principles of Consolidation	Principles of Consolidation Busey’s Consolidated Financial Statements include the accounts of First Busey Corporation and its subsidiaries, which include First Busey Risk Management (dissolved December 18, 2023), Deed of Trust Services Corporation, and Busey Bank, including Busey Bank’s wholly-owned subsidiaries FirsTech, Pulaski Service Corporation, and Busey Capital Management, Inc. Operating results generated from acquired businesses are included with Busey’s results of operations starting from each date of acquisition. First Busey Corporation and its subsidiaries maintain various limited liability companies that hold specific assets for risk mitigation purposes and are consolidated into Busey’s Consolidated Financial Statements . Intercompany balances and transactions have been eliminated in consolidation. Because Busey is not the primary beneficiary, the Consolidated Financial Statements exclude the following wholly-owned variable interest entities: First Busey Statutory Trust II, First Busey Statutory Trust III, First Busey Statutory Trust IV, Pulaski Financial Statutory Trust I, and Pulaski Financial Statutory Trust II.
Use of Estimates	Use of Estimates In preparing the accompanying Consolidated Financial Statements in conformity with GAAP, Busey’s management is required to make estimates and assumptions that affect the amounts reported in the Consolidated Financial Statements and the disclosures provided. Actual results could differ from those estimates. Material estimates which are particularly susceptible to significant change in the near-term relate to the fair value of debt securities available for sale, fair value of assets acquired and liabilities assumed in business combinations, goodwill, income taxes, and the determination of the ACL.
Comprehensive Income (Loss)	Comprehensive Income (Loss) Accounting principles generally require that recognized revenue, expenses, gains, and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available for sale debt securities and unrealized gains and losses on cash flow hedges, are reported net of taxes as a separate component within the equity section of the balance sheet, such items, along with net income, are components of comprehensive income (loss).
Trust Assets	Trust Assets Assets held for customers in a fiduciary or agency capacity, other than trust cash on deposit at Busey Bank, are not Busey’s assets and, accordingly, are not included in the accompanying Consolidated Financial Statements . Busey had assets under care of $12.1 billion at December 31, 2023, and $11.1 billion at December 31, 2022.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include cash on hand, cash items in process of collection, amounts due from other banks, interest-bearing deposits held with other financial institutions, and federal funds sold. The carrying amount of these instruments is considered a reasonable estimate of fair value. Busey maintains its cash in deposit accounts, the balance of which, at times, may exceed federally insured limits. Busey has not experienced any losses in such accounts. Management believes Busey is not exposed to any significant credit risk on cash and cash equivalents.
Securities	Securities Debt Securities Available for Sale Debt securities classified as available for sale are those debt securities that Busey intends to hold for an indefinite period of time, but not necessarily to maturity. Any decision to sell a security classified as available for sale would be based on factors including significant movements in interest rates, changes in the maturity mix of Busey's assets and liabilities, liquidity needs, regulatory capital considerations, and other similar factors. Debt securities available for sale are carried at fair value, with unrealized gains and losses reported in OCI, net of taxes. Purchase premiums and discounts are recognized in interest income using the interest method over the terms of the securities. The amortization period for certain callable debt securities held at a premium are amortized to the earliest call date, while discounts on debt securities are amortized to maturity. Gains and losses on the sale of debt securities available for sale are recorded on the trade date and are determined using the specific identification method. Debt securities available for sale are not within the scope of the current expected credit losses methodology, however, the accounting for credit losses on these securities is affected by ASC Subtopic 326-30 “Financial Instruments-Credit Losses—Available-for-Sale Debt Securities.” A debt security available for sale is impaired if the fair value of the security declines below its amortized cost basis. To determine the appropriate accounting, Busey must first determine if it intends to sell the security or if it is more likely than not that it will be required to sell the security before the fair value increases to at least the amortized cost basis. If either of those selling events is expected, Busey will write down the amortized cost basis of the security to its fair value. This is achieved by writing off any previously recorded allowance, if applicable, and recognizing any incremental impairment through earnings. If Busey neither intends to sell the security nor believes it is more likely than not that the Company will be required to sell the security before the fair value recovers to the amortized cost basis, Busey must determine whether any of the decline in fair value has resulted from a credit loss, or if it is entirely the result of noncredit factors. Busey considers the following factors in assessing whether the decline is due to a credit loss: • Extent to which the fair value is less than the amortized cost basis; • Adverse conditions specifically related to the security, an industry, or a geographic area (for example, changes in the financial condition of the issuer of the security, or in the case of an asset-backed debt security, in the financial condition of the underlying loan obligors); • Payment structure of the debt security and the likelihood of the issuer being able to make payments that increase in the future; • Failure of the issuer of the security to make scheduled interest or principal payments; and • Any changes to the rating of the security by a rating agency. Impairment related to a credit loss must be measured using the discounted cash flow method. Credit loss recognition is limited to the fair value of the security. Impairment is recognized by establishing an allowance for the debt security through the provision for credit losses. Impairment related to noncredit factors is recognized in AOCI, net of applicable taxes. Busey did not recognize any credit impairment in 2023, 2022, or 2021. Debt Securities Held to Maturity Debt securities classified as held to maturity are those debt securities that Busey has the intent and ability to hold to maturity and are carried at amortized cost. In 2022, Busey elected to transfer a portion of the agency mortgage-backed securities portfolio from available for sale to held to maturity. While held to maturity securities are within the scope of CECL, the standard allows for an assumption of zero credit losses when the expectation of non-payment is zero. The risk related to mortgage-backed securities issued and/or guaranteed by U.S. government agencies or U.S. government-sponsored enterprises is considered low, therefore requiring no allowance to be recorded. Accrued interest receivable for debt securities totaled $13.6 million at December 31, 2023, and is excluded from the estimate of credit losses. Accrued interest receivable is reported in other assets on the Consolidated Balance Sheets . Equity Securities Equity securities are carried at fair value with changes in fair value recognized in earnings.
Loans Held for Sale	Loans Held for Sale Loans held for sale include mortgage loans which Busey intends to sell to investors and/or the secondary mortgage market. Busey accounts for loans held for sale at LOCOM. Loans held for sale are carried at amortized historical cost less loan write-offs and downward fair value adjustments, as may be applicable. Net unrealized losses, if any, are recognized through a valuation allowance by charges to income. Gains and losses on sales of loans are recognized at settlement dates and are determined by the difference between the sales proceeds and the carrying amount, net of the value of any servicing assets for loans that were sold with servicing rights retained.
Loan Servicing	Loan Servicing Servicing assets are recognized when servicing rights are acquired or retained through the sale of mortgage and government-guaranteed commercial loans. The unpaid principal balances of loans serviced by Busey for the benefit of others totaled $1.5 billion as of December 31, 2023, and $1.7 billion as of December 31, 2022, and are not included in the accompanying Consolidated Balance Sheets . Servicing rights are initially recorded at fair value, which is determined using a valuation model that calculates the present value of estimated future net servicing income. Capitalized servicing rights are reported in other assets and are amortized into noninterest income in proportion to, and over the period of, the estimated future net servicing income of the underlying financial assets. The amortization of mortgage servicing rights is included in mortgage revenue. The amortization of government-guaranteed commercial loans is included in other income. Servicing rights are periodically evaluated for impairment based on the fair value of those rights as compared to book value. Fair values are estimated using discounted cash flows based on expected prepayment rates and other inputs. For purposes of measuring impairment, servicing rights are stratified by one or more predominant characteristics of the underlying loans. A valuation allowance is recognized in the amount by which the amortized cost of the rights for each stratum exceeds its fair value, if any. If Busey later determines that all or a portion of the impairment no longer exists for a particular group of loans, a reversal of the allowance may be recorded in current period earnings. Busey had an immaterial amount of impairment recorded at December 31, 2023 and 2022. Servicing fee income is recorded for fees earned for servicing loans. The fees are based on a contractual percentage of the outstanding principal and are recorded as income when earned.
Portfolio Loans	Portfolio Loans Loans that management has the intent and ability to hold for the foreseeable future, or until maturity or pay-off, are reported at the principal balance outstanding, net of purchase premiums and discounts, deferred origination fees and costs, charge-offs, and the ACL. Loan origination fees, net of certain direct loan origination costs, are deferred and the net amount is amortized as an adjustment of the related loan’s yield. Busey amortizes the net amount over the contractual life of the related loan. Interest income is accrued daily on outstanding loan balances. Loans are placed on non-accrual status when, in management’s opinion, the borrower may be unable to meet payment obligations as they become due, as well as when required by regulatory provisions. Loans may be placed on non-accrual status regardless of whether or not such loans are considered past due. Past due status is based on the contractual terms of the loan. Interest accrued but not collected for loans that are charged-off or placed on non-accrual status is reversed against interest income. The interest on non-accrual loans is accounted for on the cost-recovery method, until returned to accrual status. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. PPP Loans Busey had $0.3 million in PPP loans outstanding as of December 31, 2023. In comparison, Busey had $0.9 million in PPP loans outstanding as of December 31, 2022, with an amortized cost of $0.8 million. Busey received an immaterial amount of fees related to these loans for the year ended December 31, 2023, and received fees totaling $2.5 million and $20.1 million for the years ended December 31, 2022, and 2021, respectively. Incremental direct origination costs Busey incurred were immaterial for the year ended December 31, 2023, and were $0.6 million and $4.2 million for the years ended December 31, 2022, and 2021, respectively. Both the fees received and the origination costs were deferred and are amortized over the contractual life of these loans, subject to prepayment. Busey recognized an immaterial amount in net interest income for fees, net of deferred cost, during the year ended December 31, 2023, and recognized $1.9 million and $14.0 million during the years ended December 31, 2022, and 2021, respectively. As of December 31, 2023, the remaining amount of fees to be recognized, net of deferred costs, was immaterial. PPP loans contain a forgiveness feature for funds spent on covered expenses, including both principal and accrued interest. Any remaining balance after loan forgiveness maintains a 100% government guarantee for the remaining term of the loan.
Loan Modifications	Loan Modifications On January 1, 2023, Busey adopted ASU 2022-02 “Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures,” which eliminated the TDR accounting model for creditors that have already adopted CECL. In lieu of the TDR accounting model, loan refinancing and restructuring guidance in ASC Subtopic 310-20-35-9 through 35-11 “Receivables—Nonrefundable Fees and Other Costs—Subsequent Measurement—Loan Refinancing or Restructuring” will apply to all loan modifications, including those made for borrowers experiencing financial difficulty. This standard also enhances disclosure requirements related to certain loan modifications.
Assets Purchased with Credit Deterioration	Assets Purchased with Credit Deterioration On January 1, 2020, Busey adopted ASC Topic 326 “Financial Instruments-Credit Losses” using the prospective transition approach for financial assets PCD that were previously classified as PCI and accounted for under ASC Subtopic 310-30 “Receivables—Loans and Debt Securities Acquired with Deteriorated Credit Quality.” In accordance with the standard, management did not reassess whether PCI assets met the criteria of PCD assets as of the date of adoption. In accordance with ASC Topic 326, the amortized cost basis of PCD assets were adjusted to reflect an ACL for any remaining credit discount. Subsequent changes in expected cash flows will be adjusted through the ACL. The noncredit discount will be accreted into interest income using the January 1, 2020, effective interest rate. Subsequent to the adoption of ASC Topic 326, acquired loans are separated into two categories based on the credit risk characteristics of the underlying borrowers as either PCD, for loans which have experienced more than insignificant credit deterioration since origination, or all other loans. At the date of acquisition, an ACL on PCD loans is determined and netted against the amortized cost basis of the individual loans. The difference between the initial amortized cost basis and the par value of the loan is a noncredit discount or premium, which is amortized into interest income over the life of the loan. The ACL on PCD loans is recorded in the acquisition accounting and no provision for credit losses is recognized at the acquisition date. Subsequent changes to the ACL are recorded through provision expense. For all other loans, an ACL is established immediately after the acquisition through a charge to the provision for credit losses.
Allowance for Credit Losses	Allowance for Credit Losses The ACL is a significant estimate in Busey’s Consolidated Financial Statements , affecting both earnings and capital. The ACL is a valuation account that is deducted from the portfolio loans’ amortized cost bases to present the net amount expected to be collected on the portfolio loans. Portfolio loans are charged off against the ACL when management believes the uncollectibility of a loan balance is confirmed. Recoveries will be recognized up to the aggregate amount of previously charged-off balances. The ACL is established through the provision for credit loss charged to income. A loan’s amortized cost basis is comprised of the unpaid principal balance of the loan, accrued interest receivable, purchase premiums or discounts, and net deferred origination fees or costs. Busey has estimated its allowance on the amortized cost basis, exclusive of government guaranteed loans and accrued interest receivable. Busey writes-off uncollectible accrued interest receivable in a timely manner and has elected to not measure an allowance for accrued interest receivable. Busey presents the aggregate amount of accrued interest receivable for all financial instruments in other assets on the Consolidated Balance Sheets and the balance of accrued interest receivable is disclosed in “ Note 18. Fair Value Measurements. ” Our methodology influences, and is influenced by, Busey’s overall credit risk management processes. The ACL is managed in accordance with GAAP to provide an adequate reserve for expected credit losses that is reflective of management’s best estimate of what is expected to be collected. The ACL must be determined on a collective (pool) basis when similar risk characteristics exist. On a case-by-case basis, we may conclude a loan should be evaluated on an individual basis based on disparate risk characteristics. The measurement of expected credit losses is based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the amortized cost basis. Adjustments to historical loss information are made for differences in current loan-specific risk characteristics such as differences in underwriting standards, portfolio mix, delinquency level, or term as well as for changes in environmental conditions such as changes in unemployment rates, property values, and other relevant factors. The calculation also contemplates that Busey may not be able to make or obtain such forecasts for the entire life of the financial assets and requires a reversion to historical credit loss information. Due to the continued economic uncertainty in the markets in which the Company operates, Busey will continue to utilize a forecast period of 12 months with an immediate reversion to historical loss rates beyond this forecast period in its ACL estimate. Ongoing impacts of CECL will be dependent upon changes in economic conditions and forecasts, originated and acquired loan portfolio composition, prepayment speeds, credit performance trends, portfolio duration, and other factors.
Premises and Equipment	Premises and Equipment Land is carried at cost less accumulated depreciation of depreciable land improvements. Premises and equipment are stated at cost less accumulated depreciation. Depreciation is computed by the straight-line method over the estimated useful lives of the assets. The estimated useful lives for premises and equipment are: Asset Description Estimated Useful Life Buildings and improvements 3 — 40 years Furniture and equipment 3 — 10 years
Leases	Leases A determination is made at inception if an arrangement contains a lease. For arrangements containing leases, Busey recognizes leases on the Consolidated Balance Sheets as right of use assets and corresponding lease liabilities. Lease-related assets, or right of use assets, are recognized on the lease commencement date at amounts equal to the respective lease liabilities, adjusted for prepaid lease payments, initial direct costs, and lease incentives received. Lease-related liabilities are recognized at the present value of the remaining contractual fixed lease payments, discounted using our incremental borrowing rate. Busey’s lease agreements often include one or more options to renew at Busey’s discretion. When Busey considers the exercise of a renewal option to be reasonably certain, that renewal term is included in the calculation of the right of use asset and lease liability. Operating lease expense is recognized on a straight-line basis over the lease term, including any renewal terms available through options to renew that Busey is reasonably certain to exercise. Variable lease payments are expensed as incurred. ASC Topic 842 “Leases” requires the use of the rate implicit in the lease whenever this rate is readily determinable. If not readily determinable, Busey uses its incremental borrowing rate at lease inception, on a collateralized basis, over a similar term. For operating leases existing prior to Busey’s adoption of ASC Topic 842 on January 1, 2019, Busey used a borrowing rate that corresponded to the lease term remaining as of the date of adoption of ASC Topic 842.
Long-Lived Assets	Long-Lived Assets Long-lived assets, including premises and equipment, right of use assets, and intangible assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. An impairment loss is recognized when estimated undiscounted future cash flows from operations of the asset are less than the carrying value of the asset. Cash flows used for this analysis are those directly associated with, and that are expected to arise as a direct result of, the use and eventual disposition of the asset. Any impairment loss is measured as the amount by which the carrying value of the asset exceeds its fair value.
Other Real Estate Owned and Other Repossessed Assets	Other Real Estate Owned and Other Repossessed Assets OREO and other repossessed assets represent properties and other assets acquired through foreclosure or other proceedings in settlement of loans. OREO and other repossessed assets are recorded at the fair value of the property or asset, less estimated costs of disposal, which establishes a new cost basis. Any adjustment to fair value at the time of transfer to OREO or other repossessed assets is charged to the ACL. OREO property and other repossessed assets are evaluated regularly to ensure the recorded amount is supported by its current fair value; write downs or valuation allowances to reduce the carrying amount to fair value less estimated costs to dispose are recorded, as necessary. OREO and other repossessed assets are included in other assets on the Consolidated Balance Sheets . Revenue, expense, gains, and losses from the operations of foreclosed assets are included in earnings.
Goodwill and Other Intangibles	Goodwill and Other Intangibles Goodwill represents the excess of consideration transferred in a business combination over the fair value of the net assets acquired. Goodwill is not amortized but is subject to at least annual impairment assessments. Busey has established December 31 as the annual impairment assessment date. As part of this analysis, each reporting unit's carrying value is compared to its fair value. Busey estimates the fair value of its reporting units as of the measurement date utilizing valuation methodologies including comparable company analysis and precedent transaction analysis. Goodwill is considered impaired if the carrying value of the reporting unit exceeds its fair value. There was no impairment as of December 31, 2023, or 2022. See “ Note 7. Goodwill and Other Intangible Assets ” for further discussion. Other intangible assets consist of core deposit and acquired customer relationship intangible assets arising from acquisitions. Other intangible assets are amortized over their estimated useful lives.
Cash Surrender Value of Bank-Owned Life Insurance	Cash Surrender Value of Bank Owned Life Insurance Busey has purchased, or acquired through acquisitions, life insurance policies on certain executives and senior officers. Life insurance is recorded at its cash surrender value, which approximates its fair value. Busey maintains a liability for post-employment benefits related to split-dollar life insurance arrangements. In an endorsement split-dollar life insurance arrangement, the employer owns and controls the policy, and the employer and employee split the life insurance policy’s cash surrender value and/or death benefits. If the employer agrees to maintain a life insurance policy during the employee’s retirement, the present value of the cost of maintaining the insurance policy is accrued over the employee’s active service period. Similarly, if the employer agrees to provide the employee with a death benefit, the present value of the death benefit is accrued over the employee’s active service period. Busey accrued liabilities for these arrangements totaling $5.6 million as of both December 31, 2023, and 2022. Liabilities for post-employment benefits are included in other liabilities on the Consolidated Balance Sheets .
FHLB Stock	FHLB Stock Busey Bank is a member of the FHLB system. FHLB members are required to own a certain amount of stock based on the level of borrowings and other factors, and may invest in additional amounts. FHLB stock is carried at cost in other assets in our Consolidated Balance Sheet . Dividends are reported as income.
Other Asset Investments	Other Asset Investments Busey has invested in certain tax-advantaged projects promoting affordable housing, new markets, and historic rehabilitation. These investments are designed to generate returns primarily though the realization of federal and state income tax credits and other tax benefits, such as tax deductions from operating losses of the investments, over specified time periods. These investments are considered to be variable interest entities, and are accounted for under the equity, deferral, or proportional amortization practical expedient methods, as appropriate. Busey is not required to consolidate variable interest entities in which it has concluded it does not have a controlling financial interest, and is not the primary beneficiary. Busey’s maximum exposure to loss related to its investments in these unconsolidated variable interest entities is limited to the carrying amount of the investment, net of any unfunded capital commitments and previously recorded tax credits which remain subject to recapture by taxing authorities based on compliance features required to be met at the project level. Busey believes potential losses from these investments are remote. In addition, Busey has private equity investments, which are primarily in funds that invest in small businesses across diverse sectors including, but not limited to, financial technology, business services, manufacturing, agribusiness, healthcare, software as a service, and environmental, or supporting the preservation of affordable housing. The following table summarizes the impact of Busey’s other asset investments on the Company’s Consolidated Balance Sheets for the periods indicated (dollars in thousands) : As of December 31, Location 2023 2022 Other asset investments Funded investments Other assets $ 68,516 $ 58,912 Unfunded investments Other assets 58,552 67,437 Other asset investments $ 127,068 $ 126,349 Unfunded investment obligations Other liabilities $ 58,552 $ 67,437 During 2023, Busey sold all 16,878 shares of Visa Class B common shares it previously held for a pre-tax gain of approximately $5.5 million.
Transfers of Financial Assets	Transfers of Financial Assets Transfers of financial assets are accounted for as sales only when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when: (1) the assets have been isolated from Busey’s assets, (2) the transferee obtains the right to pledge or exchange the assets it receives, and no condition both constrains the transferee from taking advantage of its right to pledge or exchange and provides more than a trivial benefit to the transferor, and (3) Busey does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity or the ability to unilaterally cause the holder to return specific assets.
Income Taxes	Income Taxes Busey is subject to income taxes in U.S. federal and various state jurisdictions. First Busey Corporation and its subsidiaries file consolidated federal and state income tax returns with each subsidiary computing its taxes on a separate entity basis. Tax regulations within each jurisdiction are subject to the interpretation of the related tax laws and regulations and require significant judgment to apply. Busey is no longer subject to U.S. federal, state, or local income tax examinations by tax authorities for the years before 2020. Under GAAP, a valuation allowance is required to be recognized if it is more likely than not that the deferred tax assets will not be realized. The determination of the recoverability of the deferred tax assets is highly subjective and dependent upon judgment concerning management’s evaluation of both positive and negative evidence, the forecasts of future income, applicable tax planning strategies, and assessments of current and future economic and business conditions. Management believes that it is more likely than not that the deferred tax assets included in the accompanying Consolidated Financial Statements will be fully realized. Busey determined that no valuation allowance was required as of December 31, 2023, or 2022. Positions taken in tax returns may be subject to challenge upon examination by the taxing authorities. Uncertain tax positions are initially recognized in the Consolidated Financial Statements when it is more likely than not the position will not be sustained upon examination by the tax authorities. Such tax positions are both initially and subsequently measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon settlement with the tax authority, assuming full knowledge of the position and all relevant facts. When applicable, Busey recognizes interest accrued related to unrecognized tax benefits and penalties in operating expenses. Busey had no accruals for payments of interest and penalties at December 31, 2023, or 2022. At December 31, 2023, Busey was not under any income tax examination by any income tax authority.
Treasury Stock	Treasury Stock Treasury stock acquired is recorded at cost. Treasury stock issued is valued based on the “first-in, first-out” method. Gains and losses on issuance are recorded as increases or decreases to additional paid-in capital.
Stock-Based Employee Compensation	Stock-Based Employee Compensation Busey’s equity incentive plans are designed to encourage ownership of its common stock by its employees and directors, to provide additional incentive for them to promote the success of Busey’s business, and to attract and retain talented personnel. All of Busey’s employees and directors and those of its subsidiaries are eligible to receive awards under the plans. 2020 Equity Plan The 2020 Equity Plan was originally approved by stockholders at the 2020 Annual Meeting of Stockholders. A description of the 2020 Equity Plan, as originally approved, can be found in Appendix A within Busey’s Proxy Statement for the 2020 Annual Meeting of Stockholders filed on April 9, 2020 . Upon the 2020 Equity Plan’s original approval, it replaced the 2010 Equity Incentive Plan and the First Community 2016 Equity Incentive Plan, which, from time to time, Busey used to grant equity awards to legacy employees of First Community. Under the terms of the 2020 Equity Plan, Busey has granted RSU, DSU, and PSU awards. An amendment to and restatement of the 2020 Equity Plan was approved by stockholders at the 2023 Annual Meeting of Stockholders. The terms of the amended and restated 2020 Equity Plan are substantially identical to those of the originally approved 2020 Equity Plan, other than a 1,350,000 increase in the number of shares authorized for issuance under the plan. More information can be found in Appendix A within Busey’s Proxy Statement for the 2023 Annual Meeting of Stockholders filed on April 14, 2023 . RSU Awards Busey grants RSU awards to members of management periodically throughout the year. RSU awards are stock-based awards for which vesting is conditional upon meeting established service criteria. Each RSU is equivalent to one share of Busey’s common stock. Busey’s RSUs have requisite service periods ranging from one year to five years, and are subject to accelerated vesting upon eligible retirement from Busey. Recipients earn quarterly dividend equivalents on their respective RSUs, which entitle the recipients to additional units. Therefore, dividends earned each quarter compound based upon the updated unit balances. PSU Awards Busey grants PSU awards to members of management periodically throughout the year. PSU awards are stock-based awards for which vesting is conditional upon meeting established performance criteria. Each PSU is equivalent to one share of Busey’s common stock. The number of PSUs that ultimately vest will be determined based on the extent to which market or other performance goals are achieved. Busey’s PSUs are subject to accelerated service-based vesting conditions upon eligible retirement from Busey. After performance determination, dividend equivalents are compounded based upon the updated PSU balances at each dividend date during the performance period. DSU Awards Busey grants DSU awards to its directors and advisory directors. DSU awards are stock-based awards with a deferred settlement date. Each DSU is equivalent to one share of Busey’s common stock. DSUs vest over a one-year period following the grant date. Under the 2020 Equity Plan, DSUs are generally subject to the same terms as RSUs, except that following vesting of DSUs, settlement occurs within 30 days following the earlier of separation from the board or a change in control of the Company. After vesting and prior to delivery, DSUs will continue to earn dividend equivalents. Stock Options Busey has outstanding stock options assumed from acquisitions. All stock options that remained outstanding as of December 31, 2023, were fully vested. 2021 Employee Stock Purchase Plan The 2021 ESPP was approved at Busey’s 2021 Annual Meeting of Stockholders and details can be found in Appendix A within First Busey’s Definitive Proxy Statement filed with the SEC on April 8, 2021 . One of the primary purposes of the 2021 ESPP is to provide a means through which our associates may acquire a proprietary interest in Busey by purchasing shares of our common stock at a discounted price through voluntary payroll deductions, further incentivizing Busey associates to exert maximum effort toward Busey’s success. Because the 2021 ESPP provides opportunity for Busey associates to purchase Busey’s common stock at a 15% discount from the market price, the plan is considered to be a compensatory plan under current accounting guidance. Therefore, the entire amount of the discount is recognized in salaries, wages, and employee benefits on the Consolidated Statements of Income . See “ Note 14. Stock-based Compensation ” for further discussion.
Segment Disclosure	Segment Disclosure Operating segments are components of a business that (1) engage in business activities from which the component may earn revenues and incur expenses; (2) have operating results that are reviewed regularly by the entity’s chief operating decision maker to make decisions about resources to be allocated to the segments and assess their performance; and (3) for which discrete financial information is available. Busey’s operations are managed along three operating segments consisting of Banking, Wealth Management, and FirsTech. See “ Note 21. Operating Segments and Related Information ” for further discussion.
Business Combinations	Business Combinations Business combinations are accounted for under ASC Topic 805 “Business Combinations” using the acquisition method of accounting. The acquisition method of accounting requires that the assets acquired and the liabilities assumed are recognized, measured at their estimated fair values, as of the date Busey obtains control of the acquiree (the acquisition date). To estimate fair values of assets acquired and liabilities assumed, Busey may utilize third-party valuations, such as appraisals, or internal valuations based on discounted cash flow analyses or other valuation techniques. Operating results generated from acquired businesses are included with Busey’s results of operations starting from each acquisition date. Acquisition related costs are costs that Busey incurs to effect a business combination, and may include legal, accounting, valuation, other professional or consulting fees, system conversions, and marketing costs. Busey accounts for acquisition related costs by recording them as expenses in the periods in which the costs are incurred and the services are received. Costs that Busey expects, but is not obligated to incur in the future, to effect its plan to exit an activity of an acquiree or to terminate the employment of an acquiree’s employees are not liabilities at the acquisition date. Instead, Busey recognizes these costs in its post-combination Consolidated Financial Statements in accordance with other applicable accounting guidance.
Derivative Financial Instruments	Derivative Financial Instruments Busey utilizes interest rate swap agreements as part of its asset liability management strategy to help manage its interest rate risk position. Additionally, Busey enters into derivative financial instruments, including interest rate lock commitments issued to residential loan customers for loans that will be held for sale, forward sales commitments to sell residential mortgage loans to investors, and interest rate swaps with customers and other third parties. Interest Rate Swaps Designated as Cash Flow Hedges Busey entered into derivative instruments designated as cash flow hedges. For a derivative instrument that qualifies and is designated as a cash flow hedge, the change in fair value of the derivative instrument is reported as a component of other comprehensive income (loss) and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Changes in fair value of components excluded from the assessment of effectiveness are recognized in current earnings. Interest Rate Swaps Not Designated as Hedges Busey may offer derivative contracts to its customers in connection with their risk management needs. Busey manages the risk associated with these contracts by entering into equal and offsetting derivatives with third-party dealers. Generally, these derivatives have worked together as an economic interest rate hedge, but Busey did not designate them for hedge accounting treatment. Consequently, changes in fair value of the corresponding derivative financial asset or liability were recorded as either a charge or credit to current earnings during the period in which the changes occurred. Interest Rate Lock Commitments Interest rate lock commitments that meet the definition of derivative financial instruments under ASC Topic 815 “Derivatives and Hedging” are carried at their fair values in other assets or other liabilities in the Consolidated Financial Statements , with changes in the fair values of the corresponding derivative financial assets or liabilities recorded as either a charge or credit to current earnings during the period in which the changes occurred. Forward Sales Commitments Busey economically hedges mortgage loans held for sale and interest rate lock commitments issued to its residential loan customers related to loans that will be held for sale by obtaining corresponding forward sales commitments with an investor to sell the loans at an agreed-upon price at the time the interest rate locks are issued to the customers. Forward sales commitments that meet the definition of derivative financial instruments under ASC Topic 815 “Derivatives and Hedging” are carried at their fair values in other assets or other liabilities in the Consolidated Financial Statements . While such forward sales commitments generally served as an economic hedge to mortgage loans held for sale and interest rate lock commitments, Busey did not designate them for hedge accounting treatment. Changes in fair value of the corresponding derivative financial asset or liability were recorded as either a charge or credit to current earnings during the period in which the changes occurred. Risk Participation Agreements Busey has entered into risk participation agreements to manage the credit risk of its derivative position. These agreements transfer credit risk related to an interest rate swap to another financial institution. Risk participation agreements that Busey has entered into are structured as follows: • Busey has a swap agreement with a customer. Busey (purchaser) entered into a risk participation agreement with a counterparty (seller), under which the counterparty receives a fee to accept a portion of the credit risk. If Busey’s customer defaults on the swap contract, the counterparty to the risk participation agreement must reimburse Busey for the counterparty's percentage of the positive fair value of the customer swap as of the default date. If the customer swap has a negative fair value, the counterparty has no reimbursement requirements. If Busey’s customer defaults on the swap contract and the counterparty (seller) fulfills its payment obligations under the risk participation agreement, the counterparty (seller) is entitled to a pro rata share of Busey’s claim against the customer under the terms of the swap agreement. • A counterparty has a swap agreement with a customer. Busey (seller) entered into a risk participation with a counterparty (purchaser), under which Busey receives a fee to accept a portion of the credit risk. If the counterparty’s customer defaults on the swap contract, Busey must reimburse the counterparty (purchaser) for Busey's percentage of the positive fair value of the customer swap as of the default date. If the customer swap has a negative fair value, Busey has no reimbursement requirements. If the counterparty’s customer defaults on the swap contract and Busey (seller) fulfills its payment obligations under the risk participation agreement, Busey (seller) is entitled to a pro rata share of the counterparty’s claim against the customer under the terms of the swap agreement. Foreign Currency Forward Contracts Busey entered into foreign currency exchange contracts to support the business requirements of its customers. Foreign currency contracts involve the exchange of one currency for another on a specified date and at a specified rate. These contracts are executed on behalf of Busey's customers and are used by customers to manage fluctuations in foreign exchange rates. Busey minimizes its exposure by entering into similar offsetting positions with other financial institutions. Busey is subject to the credit risk that another party will fail to perform.
Off-Balance Sheet Arrangements	Off-Balance Sheet Arrangements In the normal course of business, to meet the financing needs of its customers, Busey is a party to credit-related financial instruments with off-balance-sheet risk, including commitments to extend credit and standby letters of credit. These instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the Consolidated Balance Sheets . Busey’s exposure to credit loss is represented by the contractual amount of the commitments. Busey uses the same credit policies in making commitments and conditional obligations as it does for on-balance-sheet instruments. Commitments to extend credit are agreements to lend to a customer as long as no condition established in the contract has been violated. These commitments are generally at variable interest rates, they generally have fixed expiration dates or other termination clauses, and they may require the customer to pay a fee. Commitments for equity lines of credit may expire without being drawn upon; therefore, the total commitment amounts do not necessarily represent future cash requirements. These commitments may be secured based on management’s credit evaluation of the borrower. Standby letters of credit are conditional commitments Busey has issued to guarantee the performance of a customer’s obligation to a third-party. Those guarantees are primarily issued to support public and private borrowing arrangements, including bond financing and similar transactions. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. Busey holds collateral, which may include accounts receivable, inventory, property and equipment, and income producing properties, supporting those commitments if deemed necessary. In the event the customer does not perform in accordance with the terms of the agreement with the third-party, Busey would be required to fund the commitment. If the commitment is funded, Busey would be entitled to seek recovery from the customer. Busey estimates expected credit losses for off-balance sheet arrangements over the contractual period during which it is exposed to credit risk via a present contractual obligation to extend credit, unless that obligation is unconditionally cancellable by the issuer. To be considered unconditionally cancellable for accounting purposes, Busey must have the ability to, at any time, with or without cause, refuse to extend credit under the commitment. Off-balance-sheet credit exposure segments share the same risk characteristics as portfolio loans. Busey incorporates a probability of funding and utilizes the ACL loss rates to calculate a reserve for off-balance-sheet credit exposure, which is carried on the Consolidated Balance Sheets in other liabilities rather than as a component of the ACL. The reserve for off-balance-sheet credit exposure is adjusted as a provision for off-balance-sheet credit exposure and is reported as a component of noninterest expense in the accompanying Consolidated Statements of Income . Liabilities recorded as reserves for Busey’s off-balance sheet credit exposure under these commitments totaled $7.1 million as of December 31, 2023, and $6.6 million as of December 31, 2022.
Fair Value of Financial Instruments	Fair Value of Financial Instruments Fair values of financial instruments are estimated using relevant market information and other assumptions, as more fully disclosed in “ Note 18. Fair Value Measurements .” Fair value estimates involve uncertainties and matters of significant judgment regarding interest rates, credit risk, prepayments, and other factors, especially in the absence of broad markets for particular items. Changes in assumptions or in market conditions could significantly affect these estimates.
Revenue	Revenue ASC Topic 606 “Revenue from Contracts with Customers” outlines a single model for companies to use in accounting for revenue arising from contracts with customers and supersedes most prior revenue recognition guidance, including industry-specific guidance. ASC Topic 606 requires that companies recognize revenue based on the value of transferred goods or services as they occur in the contract and establishes additional disclosures. Busey’s revenue is comprised of net interest income, which is explicitly excluded from the scope of ASC Topic 606, and noninterest income. Busey has evaluated its noninterest income and the nature of its contracts with customers and determined that further disaggregation of revenue beyond what is presented in the accompanying Consolidated Financial Statements is not necessary. Busey satisfies its performance obligations on its contracts with customers as services are rendered, so there is limited judgment involved in applying ASC Topic 606 that affects the determination of the timing and amount of revenue from contracts with customers. Descriptions of Busey’s primary revenue generating activities that are within the scope of ASC Topic 606, and are presented in the accompanying Consolidated Statements of Income as components of noninterest income, include wealth management fees, payment technology solutions, and fees for customer services. Wealth Management Fees Wealth management fees represent fees due from wealth management customers as consideration for managing the customers' assets. Wealth management and trust services include custody of assets, investment management, fees for trust services, and other fiduciary activities. Also included are fees received from a third-party broker-dealer as part of a revenue sharing agreement for fees earned from customers that Busey refers to the third party. Revenue is recognized when the performance obligation is completed, which is generally monthly. Payment Technology Solutions Payment technology solutions revenue represents transaction-based fees for technology-driven payment solutions primarily for walk-in, lockbox, interactive voice recognition, and online bill payments through Busey Bank’s subsidiary, FirsTech. Revenue is recognized when the performance obligation is completed, which is generally monthly. Fees for Customer Services Fees for customer services consist of time-based revenue from service fees for account maintenance, item-based revenue from fee-based activity, and transaction-based fee revenue. Revenue is recognized when the performance obligation is completed, which is generally monthly for account maintenance services, or when a transaction has been completed. Payments for such performance obligations are generally received at the time the performance obligations are satisfied.
Reclassifications	Reclassifications Reclassifications have been made to certain prior year account balances, with no effect on net income or stockholders’ equity, to be consistent with the classifications adopted as of and for the year ended December 31, 2023.
Impact of Recently Adopted Accounting Standards and Recently Issued Accounting Standards Not Yet Adopted	Impact of Recently Adopted Accounting Standards In July 2023, the FASB issued ASU 2023‑03 “Presentation of Financial Statements (Topic 205), Income Statement—Reporting Comprehensive Income (Topic 220), Distinguishing Liabilities from Equity (Topic 480), Equity (Topic 505), and Compensation—Stock Compensation (Topic 718)” pursuant to: (1) SEC Staff Accounting Bulletin No. 120, which provided interpretive guidance related to estimating the fair value of share-based payment transactions while in possession of material non-public information; (2) an SEC Staff Announcement at the March 24, 2022, Emerging Issues Task Force Meeting, which provided interpretive guidance on accounting for share-based payments to employees and non-employees; and (3) Staff Accounting Bulletin Topic 6.B, Accounting Series Release 280—General Revision of Regulation S-X: Income or Loss Applicable to Common Stock, which provided interpretive guidance on the reporting of income or loss applicable to common stock. This update was reflected in the Accounting Standards Codification upon issuance. Adoption of this standard did not have a material impact on Busey’s financial position or results of operations. In March 2022, the FASB issued ASU 2022‑02 “Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures,” which eliminates the TDR accounting model for creditors that have already adopted CECL. In lieu of the TDR accounting model, loan refinancing and restructuring guidance in ASC Subtopic 310-20-35-9 through 35-11 “Receivables—Nonrefundable Fees and Other Costs—Subsequent Measurement—Loan Refinancing or Restructuring” will apply to all loan modifications, including those made for borrowers experiencing financial difficulty. This standard also enhances disclosure requirements related to certain loan modifications. Additionally, this standard introduces new requirements to disclose gross write-off information in the vintage disclosures of financing receivables by credit quality indicator and class of financing receivable by year of origination. This standard applies prospectively. For the transition method related to the recognition and measurement of TDRs, there is an option to apply a modified retrospective transition method, resulting in a cumulative-effect adjustment to retained earnings in the period of adoption. This standard became effective for Busey beginning January 1, 2023. Adoption of this standard did not have a material impact on Busey’s financial position or results of operations. In March 2022, the FASB issued ASU 2022‑01 “Derivatives and Hedging (Topic 815): Fair Value Hedging—Portfolio Layer Method,” which replaces the current last-of-layer hedge accounting method with an expanded portfolio layer method that permits multiple hedged layers of a single closed portfolio. The scope of the portfolio layer method is also expanded to include non-prepayable financial assets. This update also provides additional guidance on the accounting for and disclosure of hedge basis adjustments that are applicable to the portfolio layer method, and specifies how hedge basis adjustments should be considered when determining credit losses for the assets included in the closed portfolio. Amendments related to hedge basis adjustments which are included in this standard apply on a modified retrospective basis by means of a cumulative-effect adjustment to the opening balance of retained earnings on the initial application date. Amendments related to disclosure which are included in this standard may be applied on a prospective basis from the initial application date, or on a retrospective basis to each prior period presented after the date of adoption of the amendments in ASU 2017-12 “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities.” This standard became effective for Busey beginning January 1, 2023. Adoption of this standard did not have a material impact on Busey’s financial position or results of operations. ASU 2021‑08 “Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers” requires measurement and recognition in accordance with ASC Topic 606 “Revenue from Contracts with Customers” for contract assets and contract liabilities acquired in a business combination. This update became effective for Busey beginning January 1, 2023. This standard applied prospectively to all business combinations that occurred on or after the date of adoption. Adoption of this standard did not have an impact on Busey’s financial position or results of operations. Recently Issued Accounting Standards Not Yet Adopted In December 2023, the FASB issued ASU 2023‑09 “Income Taxes (Topic 740): Improvements to Income Tax Disclosures,” which requires more detailed disclosures of income taxes paid net of refunds received, income from continuing operations before income tax expense or benefit, and income tax expense from continuing operations. This standard is to be applied on a prospective basis, with retrospective application permitted, and will be effective for Busey for annual periods beginning on January 1, 2025. Busey does not expect adoption of this standard to have a material impact on the Company’s financial position or results of operations. In November 2023, the FASB issued ASU 2023‑07 “Segment Reporting Topic 820): Improvements to Reportable Segment Disclosures” requiring enhanced disclosures related to significant segment expenses. This standard is to be applied on a retrospective basis, and is effective for Busey beginning with its fiscal year starting on January 1, 2024, and for interim reporting periods within fiscal years starting January 1, 2025. Busey does not expect adoption of this standard to have a material impact on the Company’s financial position or results of operations. In October 2023, the FASB issued ASU 2023‑06 “Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative” which aligns certain GAAP disclosure requirements with the SEC’s disclosure requirements, in order to better facilitate comparisons between entities that are subject to the SEC’s existing disclosures with entities that were not previously subject to the SEC’s requirements. Amendments in this update should be applied prospectively, and the effective date for Busey for each amendment in this accounting standards update will be the date on which the SEC removes the related disclosure from Regulation S‑X or Regulation S‑K. Early adoption is prohibited. Busey does not expect adoption of this standard to have a material impact on the Company’s financial position or results of operations. In March 2023, the FASB issued ASU 2023‑02 “Investments—Equity Method and Joint Ventures (Topic 323),” permitting an election to use the proportional amortization method to account for equity investments made primarily for the purpose of receiving income tax credits and other income tax benefits, regardless of the tax credit program from which the income tax credits are received, provided that certain conditions are met. The proportional amortization method results in the cost of the investment being amortized in proportion to the income tax credits and other income tax benefits received, with the amortization of the investment and the income tax credits being presented net in the income statement as a component of income tax expense. This standard must be applied on a retrospective or modified retrospective basis, and became effective for Busey beginning on January 1, 2024. Busey recorded an after-tax decrease to retained earnings of $1.4 million as of January 1, 2024, for the cumulative effect of adopting ASU 2023‑02. This transition adjustment included a $2.4 million decrease in other assets, a $0.5 million decrease in other liabilities, and a $0.5 million increase in deferred tax assets. In March 2023, the FASB issued ASU 2023‑01 “Leases (Topic 842): Common Control Arrangements,” which requires amortization over the useful life of leasehold improvements (not the lease term) when the lease is between entities under common control, and any value of such leasehold improvements remaining at the end of the lease term is to be accounted for as a transfer between entities under common control. This standard may be adopted either prospectively, or retrospectively, and became effective for Busey beginning January 1, 2024. Busey does not expect adoption of this standard to have a material impact on the Company’s financial position or results of operations. In June 2022, the FASB issued ASU 2022‑03 “Fair Value Measurements (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions,” which clarifies that contractual restrictions on the sale of equity securities are not considered in measuring the fair value of those equity securities, and further that contractual sale restrictions cannot be recognized and measured as a separate unit of account. This standard applies prospectively, and became effective for Busey beginning January 1, 2024. Busey does not expect adoption of this standard to have a material impact on the Company’s financial position or results of operations.
Subsequent Events	Subsequent Events Busey has evaluated subsequent events for potential recognition and/or disclosure through the date the Consolidated Financial Statements included in this Annual Report on Form 10-K were issued. There were no significant subsequent events for the year ended December 31, 2023, through the filing date of these Consolidated Financial Statements .

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Schedule of estimated useful lives for premises and equipment	The estimated useful lives for premises and equipment are: Asset Description Estimated Useful Life Buildings and improvements 3 — 40 years Furniture and equipment 3 — 10 years
Schedule of impact of the Busey's other asset investments	The following table summarizes the impact of Busey’s other asset investments on the Company’s Consolidated Balance Sheets for the periods indicated (dollars in thousands) : As of December 31, Location 2023 2022 Other asset investments Funded investments Other assets $ 68,516 $ 58,912 Unfunded investments Other assets 58,552 67,437 Other asset investments $ 127,068 $ 126,349 Unfunded investment obligations Other liabilities $ 58,552 $ 67,437

DEBT SECURITIES (Tables)

DEBT SECURITIES (Tables)	12 Months Ended
	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Schedule of amortized cost, unrealized gains and losses and fair values of securities classified available for sale and held to maturity	The tables below provides the amortized cost, unrealized and unrecognized gains and losses, and fair values of debt securities, summarized by major category (dollars in thousands) : As of December 31, 2023 Amortized Unrealized Fair Gross Gains Gross Losses Debt securities available for sale U.S. Treasury securities $ 16,031 $ — $ (85) $ 15,946 Obligations of U.S. government corporations and agencies 5,889 1 (58) 5,832 Obligations of states and political subdivisions 1 190,819 52 (18,026) 172,845 Asset-backed securities 470,046 — (1,823) 468,223 Commercial mortgage-backed securities 119,044 — (15,535) 103,509 Residential mortgage-backed securities 1,306,854 5 (195,547) 1,111,312 Corporate debt securities 225,947 128 (16,171) 209,904 Total debt securities available for sale $ 2,334,630 $ 186 $ (247,245) $ 2,087,571 Amortized Unrecognized Fair Gross Gains Gross Losses Debt securities held to maturity Commercial mortgage-backed securities $ 428,526 $ — $ (71,000) $ 357,526 Residential mortgage-backed securities 444,102 — (71,231) 372,871 Total debt securities held to maturity $ 872,628 $ — $ (142,231) $ 730,397 ___________________________________________ 1. Includes securities marked at par, with no gain or loss to report. As of December 31, 2022 Amortized Unrealized Fair Gross Gains Gross Losses Debt securities available for sale U.S. Treasury securities $ 117,805 $ — $ (3,744) $ 114,061 Obligations of U.S. government corporations and agencies 20,097 3 (321) 19,779 Obligations of states and political subdivisions 283,481 106 (26,075) 257,512 Asset-backed securities 489,558 — (19,683) 469,875 Commercial mortgage-backed securities 124,423 — (16,029) 108,394 Residential mortgage-backed securities 1,463,971 2 (220,717) 1,243,256 Corporate debt securities 273,118 33 (24,635) 248,516 Total debt securities available for sale $ 2,772,453 $ 144 $ (311,204) $ 2,461,393 Amortized Unrecognized Fair Gross Gains Gross Losses Debt securities held to maturity Commercial mortgage-backed securities $ 474,820 $ — $ (63,738) $ 411,082 Residential mortgage-backed securities 443,492 — (69,279) 374,213 Total debt securities held to maturity $ 918,312 $ — $ (133,017) $ 785,295
Schedule of amortized cost and fair value of debt securities available for sale and held to maturity by contractual maturity	All mortgage-backed securities were issued by U.S. government corporations and agencies (dollars in thousands) : As of December 31, 2023 Amortized Fair Debt securities available for sale Due in one year or less $ 71,960 $ 71,429 Due after one year through five years 244,231 230,299 Due after five years through ten years 418,655 388,864 Due after ten years 1,599,784 1,396,979 Debt securities available for sale $ 2,334,630 $ 2,087,571 Debt securities held to maturity Due after one year through five years $ 73,943 $ 69,373 Due after five years through ten years 28,489 25,824 Due after ten years 770,196 635,200 Debt securities held to maturity $ 872,628 $ 730,397
Schedule of realized gains and losses related to sales of securities	Realized gains and losses related to sales and calls of debt securities available for sale are summarized as follows (dollars in thousands) : Years Ended December 31, 2023 2022 2021 Realized gains and losses on debt securities Gross gains on debt securities $ 20 $ 115 $ 543 Gross (losses) on debt securities (5,523) (89) (514) Realized net gains (losses) on debt securities 1 $ (5,503) $ 26 $ 29 ___________________________________________ 1. Net gains (losses) on sales of securities reported on the Consolidated Statements of Income include the sale of equity securities, excluded in this table.
Schedule of securities with gross unrealized losses aggregated by investment category and length of time that individual securities have been in a continuous loss position	The following information pertains to debt securities with gross unrealized or unrecognized losses, aggregated by investment category and the length of time that individual securities have been in a continuous loss position (dollars in thousands) : As of December 31, 2023 Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized Debt securities available for sale U.S. Treasury securities $ — $ — $ 15,946 $ (85) $ 15,946 $ (85) Obligations of U.S. government corporations and agencies — — 5,709 (58) 5,709 (58) Obligations of states and political subdivisions 11,442 (54) 146,797 (17,972) 158,239 (18,026) Asset-backed securities — — 468,223 (1,823) 468,223 (1,823) Commercial mortgage-backed securities — — 103,509 (15,535) 103,509 (15,535) Residential mortgage-backed securities 141 (1) 1,110,906 (195,546) 1,111,047 (195,547) Corporate debt securities 1,450 (10) 198,694 (16,161) 200,144 (16,171) Debt securities available for sale with gross unrealized losses $ 13,033 $ (65) $ 2,049,784 $ (247,180) $ 2,062,817 $ (247,245) 12 months or more Total Fair Unrecognized Fair Unrecognized Debt securities held to maturity Commercial mortgage-backed securities $ 357,526 $ (71,000) $ 357,526 $ (71,000) Residential mortgage-backed securities 372,871 (71,231) 372,871 (71,231) Debt securities held to maturity with gross unrecognized losses $ 730,397 $ (142,231) $ 730,397 $ (142,231) As of December 31, 2022 Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized Debt securities available for sale U.S. Treasury securities 1 $ 74 $ — $ 113,987 $ (3,744) $ 114,061 $ (3,744) Obligations of U.S. government corporations and agencies 19,603 (321) — — 19,603 (321) Obligations of states and political subdivisions 166,147 (10,059) 75,217 (16,016) 241,364 (26,075) Asset-backed securities 390,164 (15,648) 79,711 (4,035) 469,875 (19,683) Commercial mortgage-backed securities 89,428 (12,623) 18,966 (3,406) 108,394 (16,029) Residential mortgage-backed securities 366,221 (38,111) 876,668 (182,606) 1,242,889 (220,717) Corporate debt securities 39,037 (5,079) 204,310 (19,556) 243,347 (24,635) Debt securities available for sale with gross unrealized losses $ 1,070,674 $ (81,841) $ 1,368,859 $ (229,363) $ 2,439,533 $ (311,204) Less than 12 months 12 months or more Total Fair Unrecognized Fair Unrecognized Fair Unrecognized Debt securities held to maturity Commercial mortgage-backed securities $ 58,065 $ (8,009) $ 353,017 $ (55,729) $ 411,082 $ (63,738) Residential mortgage-backed securities — — 374,213 (69,279) 374,213 (69,279) Debt securities held to maturity with gross unrecognized losses $ 58,065 $ (8,009) $ 727,230 $ (125,008) $ 785,295 $ (133,017) ___________________________________________ 1. Unrealized losses for U.S. Treasury securities that have been in a continuous loss position for less than 12 months were insignificant, rounding to zero thousand. Additional information about debt securities in an unrealized or unrecognized loss position is presented in the tables below (dollars in thousands) : As of December 31, 2023 Available for Sale Held to Maturity Total Debt securities with gross unrealized or unrecognized losses, fair value $ 2,062,817 $ 730,397 $ 2,793,214 Gross unrealized or unrecognized losses on debt securities 247,245 142,231 389,476 Ratio of gross unrealized or unrecognized losses to debt securities with gross unrealized or unrecognized losses 12.0 % 19.5 % 13.9 % Count of debt securities 835 55 890 Count of debt securities in an unrealized or unrecognized loss position 779 55 834 As of December 31, 2022 Available for Sale Held to Maturity Total Debt securities with gross unrealized or unrecognized losses, fair value $ 2,439,533 $ 785,295 $ 3,224,828 Gross unrealized or unrecognized losses on debt securities 311,204 133,017 444,221 Ratio of gross unrealized or unrecognized losses to debt securities with gross unrealized or unrecognized losses 12.8 % 16.9 13.8 % Count of debt securities 1,091 55 1,146 Count of debt securities in an unrealized or unrecognized loss position 1,032 55 1,087

PORTFOLIO LOANS (Tables)

PORTFOLIO LOANS (Tables)	12 Months Ended
	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Schedule of distribution of portfolio loans	Distributions of the loan portfolio by loan category and class is presented in the following table (dollars in thousands) : As of December 31, 2023 2022 Commercial loans Commercial $ 1,835,994 $ 1,974,154 Commercial real estate 3,337,337 3,261,873 Real estate construction 461,717 530,469 Total commercial loans 5,635,048 5,766,496 Retail loans Retail real estate 1,720,455 1,657,082 Retail other 295,531 302,124 Total retail loans 2,015,986 1,959,206 Total portfolio loans 7,651,034 7,725,702 ACL (91,740) (91,608) Portfolio loans, net $ 7,559,294 $ 7,634,094
Schedule of financial instruments owned and pledged as collateral	The principal balance of loans Busey has pledged as collateral to the FHLB and Federal Reserve Bank for liquidity as set forth in the table below (dollars in thousands) : As of December 31, 2023 2022 Pledged loans FHLB $ 4,865,481 $ 5,095,448 Federal Reserve Bank 722,914 804,718 Total pledged loans $ 5,588,395 $ 5,900,166 To secure its obligations under derivative contracts, Busey pledged cash and held collateral as follows (dollars in thousands) : As of December 31, 2023 2022 Cash pledged to secure obligations under derivative contracts $ 34,210 $ 38,609 Collateral held to secure obligations under derivative contracts 19,280 29,830
Schedule of risk grades segregated by category of portfolio loans (excluding accretable purchase accounting adjustments and clearings)	The following table is a summary of risk grades segregated by category of portfolio loans (dollars in thousands) : As of December 31, 2023 Pass Watch Special Substandard Substandard Total Commercial loans Commercial $ 1,462,755 $ 296,416 $ 46,488 $ 27,733 $ 2,602 $ 1,835,994 Commercial real estate 2,827,030 431,427 48,545 29,492 843 3,337,337 Real estate construction 448,011 8,135 — 5,327 244 461,717 Total commercial loans 4,737,796 735,978 95,033 62,552 3,689 5,635,048 Retail loans Retail real estate 1,702,897 11,144 1,024 1,795 3,595 1,720,455 Retail other 295,374 — — — 157 295,531 Total retail loans 1,998,271 11,144 1,024 1,795 3,752 2,015,986 Total portfolio loans $ 6,736,067 $ 747,122 $ 96,057 $ 64,347 $ 7,441 $ 7,651,034 As of December 31, 2022 Pass Watch Special Substandard Substandard Total Commercial loans Commercial $ 1,668,495 $ 201,758 $ 46,540 $ 51,187 $ 6,174 $ 1,974,154 Commercial real estate 2,851,709 326,455 43,526 34,539 5,644 3,261,873 Real estate construction 502,904 25,164 1 2,400 — 530,469 Total commercial loans 5,023,108 553,377 90,067 88,126 11,818 5,766,496 Retail loans Retail real estate 1,639,599 10,520 1,338 2,529 3,096 1,657,082 Retail other 301,971 — — — 153 302,124 Total retail loans 1,941,570 10,520 1,338 2,529 3,249 1,959,206 Total portfolio loans $ 6,964,678 $ 563,897 $ 91,405 $ 90,655 $ 15,067 $ 7,725,702
Schedule of risk grades of portfolio loans, further sorted by origination	Risk grades of portfolio loans and net charge-offs are presented in the tables below by loan class, further sorted by origination year (dollars in thousands) : As of and For The Year Ended December 31, 2023 Term Loans Amortized Cost Basis by Origination Year Revolving Total Risk Grade Ratings 2023 2022 2021 2020 2019 Prior Commercial Pass $ 306,578 $ 220,847 $ 159,130 $ 71,025 $ 35,927 $ 143,078 $ 526,170 $ 1,462,755 Watch 78,603 65,703 21,421 23,919 7,035 21,293 78,442 296,416 Special Mention 792 8,224 2,917 1,076 686 3,274 29,519 46,488 Substandard 8,715 765 942 426 3,734 1,859 11,292 27,733 Substandard non-accrual 166 — 117 84 128 407 1,700 2,602 Total commercial 394,854 295,539 184,527 96,530 47,510 169,911 647,123 1,835,994 Current period charge-offs $ 284 $ — $ 420 $ — $ 316 $ 1,409 $ — $ 2,429 Commercial real estate Pass 395,644 824,506 720,052 399,195 271,078 199,662 16,893 2,827,030 Watch 166,795 47,070 92,848 34,010 68,196 19,396 3,112 431,427 Special Mention 14,313 10,507 12,446 4,968 3,297 3,014 — 48,545 Substandard 1,796 188 18,862 2,938 1,802 3,856 50 29,492 Substandard non-accrual 47 79 85 23 — 609 — 843 Total commercial real estate 578,595 882,350 844,293 441,134 344,373 226,537 20,055 3,337,337 Current period charge-offs — — — — — 953 — 953 Real estate construction Pass 204,952 128,462 85,086 2,616 1,323 2,934 22,638 448,011 Watch 2,859 4,406 507 322 41 — — 8,135 Substandard 5,327 — — — — — — 5,327 Substandard non-accrual — — — — — 244 — 244 Total real estate construction 213,138 132,868 85,593 2,938 1,364 3,178 22,638 461,717 Current period charge-offs — — — — — — — — Retail real estate Pass 243,400 376,922 411,723 156,762 70,099 256,571 187,420 1,702,897 Watch 1,096 4,137 2,442 954 536 234 1,745 11,144 Special Mention 286 358 — — — 380 — 1,024 Substandard 69 72 292 49 80 997 236 1,795 Substandard non-accrual — 528 121 267 100 1,960 619 3,595 Total retail real estate 244,851 382,017 414,578 158,032 70,815 260,142 190,020 1,720,455 Current period charge-offs — 5 — 29 72 301 — 407 Retail other Pass 88,885 92,931 23,019 6,701 4,597 854 78,387 295,374 Substandard non-accrual — 93 62 — — 2 — 157 Total retail other 88,885 93,024 23,081 6,701 4,597 856 78,387 295,531 Current period charge-offs 5 71 172 5 3 373 — 629 Total portfolio loans $ 1,520,323 $ 1,785,798 $ 1,552,072 $ 705,335 $ 468,659 $ 660,624 $ 958,223 $ 7,651,034 Total current period charge-offs $ 289 $ 76 $ 592 $ 34 $ 391 $ 3,036 $ — $ 4,418 As of December 31, 2022 Term Loans Amortized Cost Basis by Origination Year Revolving Total Risk Grade Ratings 2022 2021 2020 2019 2018 Prior Commercial Pass $ 479,893 $ 266,122 $ 136,445 $ 52,046 $ 50,764 $ 135,000 $ 548,225 $ 1,668,495 Watch 54,195 49,382 3,288 7,201 1,258 2,160 84,274 201,758 Special Mention 1,958 937 1,642 974 1,000 17,024 23,005 46,540 Substandard 8,926 1,165 570 6,671 2,382 5,191 26,282 51,187 Substandard non-accrual 21 3,292 226 135 — 100 2,400 6,174 Total commercial 544,993 320,898 142,171 67,027 55,404 159,475 684,186 1,974,154 Commercial real estate Pass 883,688 819,133 478,452 297,525 161,409 198,419 13,083 2,851,709 Watch 77,346 56,113 64,282 96,664 21,592 5,758 4,700 326,455 Special Mention 11,943 5,389 12,386 1,420 6,917 5,471 — 43,526 Substandard 5,340 13,528 3,454 1,907 10,248 62 — 34,539 Substandard non-accrual — 3,959 33 — 1,647 5 — 5,644 Total commercial real estate 978,317 898,122 558,607 397,516 201,813 209,715 17,783 3,261,873 Real estate construction Pass 219,112 191,724 68,015 1,490 1,901 1,751 18,911 502,904 Watch 8,530 12,019 3,169 48 — 1,398 — 25,164 Special Mention — — — 1 — — — 1 Substandard 2,400 — — — — — — 2,400 Total real estate construction 230,042 203,743 71,184 1,539 1,901 3,149 18,911 530,469 Retail real estate Pass 396,547 456,158 175,148 77,569 56,887 267,387 209,903 1,639,599 Watch 2,928 2,991 1,846 1,444 1,063 27 221 10,520 Special Mention 945 — — — — 393 — 1,338 Substandard 77 732 198 81 141 1,293 7 2,529 Substandard non-accrual 10 191 107 32 390 1,708 658 3,096 Total retail real estate 400,507 460,072 177,299 79,126 58,481 270,808 210,789 1,657,082 Retail other Pass 134,567 43,512 13,141 13,086 5,646 991 91,028 301,971 Substandard non-accrual 14 134 3 — — 2 — 153 Total retail other 134,581 43,646 13,144 13,086 5,646 993 91,028 302,124 Total portfolio loans $ 2,288,440 $ 1,926,481 $ 962,405 $ 558,294 $ 323,245 $ 644,140 $ 1,022,697 $ 7,725,702
Schedule of portfolio loans that are past due and still accruing or on a non-accrual status	An analysis of the amortized cost basis of portfolio loans that are past due and still accruing, or on non-accrual status, is as follows (dollars in thousands) : As of December 31, 2023 Loans past due, still accruing Non-accrual 30-59 Days 60-89 Days 90+Days Past due and non-accrual loans Commercial loans: Commercial $ — $ 214 $ — $ 2,602 Commercial real estate 752 — — 843 Real estate construction 24 — — 244 Past due and non-accrual commercial loans 776 214 — 3,689 Retail loans: Retail real estate 2,781 927 366 3,595 Retail other 886 195 9 157 Past due and non-accrual retail loans 3,667 1,122 375 3,752 Total past due and non-accrual loans $ 4,443 $ 1,336 $ 375 $ 7,441 As of December 31, 2022 Loans past due, still accruing Non-accrual 30-59 Days 60-89 Days 90+Days Past due and non-accrual loans Commercial loans: Commercial $ 2 $ — $ — $ 6,174 Commercial real estate 124 — — 5,644 Past due and non-accrual commercial loans 126 — — 11,818 Retail loans: Retail real estate 4,709 1,239 673 3,096 Retail other 414 60 — 153 Past due and non-accrual retail loans 5,123 1,299 673 3,249 Total past due and non-accrual loans $ 5,249 $ 1,299 $ 673 $ 15,067
Schedule of loan modifications made to borrowers experiencing financial difficulty	The following table presents the amortized cost basis of loans that were modified for borrowers experiencing financial difficulty during the periods indicated, disaggregated by class of financing receivable and type of concession granted (dollars in thousands) : Year Ended December 31, 2023 Interest Rate Reduction 1 % of Total Class of Financing Receivable 2 Term Extension 3 % of Total Class of Financing Receivable 2 Modified Loans Commercial $ — — % $ 16,586 0.9 % Commercial real estate 872 — % 923 — % Real estate construction — — % 5,327 1.2 % Total of loans modified during the period 4 $ 872 — % $ 22,836 0.3 % ___________________________________________ 1. For one loan, the default rate was removed once forbearance was entered. 2. Modified loans represent an insignificant portion of commercial real estate loans, rounding to zero percent. 3. Modifications to extend loan terms also included, in some cases, interest rate increases during the extension period. 4. Modifications include one loan on non-accrual status, and the remaining loans were classified as substandard. The following table summarizes the effects of loan modifications made during the periods indicated, for borrowers experiencing financial difficulty: Year Ended December 31, 2023 Weighted Average Interest Rate Reduction Weighted Average Term Extension Effects of Loan Modifications Commercial — 18.1 months Commercial real estate 2.50 % 21.0 months Real estate construction — 12.0 months Total financial effect 2.50 % 16.8 months The following table provides the amortized cost basis of financing receivables that had a payment default during the year ended December 31, 2023, after having been modified during the 12 months before default for borrowers experiencing financial difficulty (dollars in thousands) . A default occurs when a loan is 90 days or more past due or transferred to non-accrual status. Years Ended December 31, 2023 Term Extension Loans with Subsequent Defaults Commercial $ 88 Busey closely monitors the performance of the loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following table depicts the payment performance of loans modified on or after January 1, 2023, the date we adopted ASU 2022-02 (dollars in thousands) : As of December 31, 2023 Current Non-accrual Modified Loans Commercial $ 16,498 $ 88 Commercial real estate 1,795 — Real estate construction 5,327 — Amortized cost of modified loans $ 23,620 $ 88
Schedule of TDR loans	TDR loan balances are summarized as follows (dollars in thousands) : As of TDRs In compliance with modified terms $ 3,032 Non-performing TDRs 537 Total TDRs $ 3,569 Loans that were designated as TDRs during the years ended as of the dates indicated are summarized as follows (dollars in thousands) : Newly Designated TDRs Recorded Investment 1 Number of Rate Modification 2 Payment Modification 2 December 31, 2022 Commercial 3 $ 136 $ 996 Retail real estate 1 — 517 Total 4 $ 136 $ 1,513 December 31, 2021 Commercial 1 $ 364 $ — Total 1 $ 364 $ — ___________________________________________ 1. Recorded investment for newly designated TDR’s that were still outstanding as of the dates indicated. 2. TDRs may have included multiple concessions; those that included an interest rate concession and payment concession are shown in the rate modification column.
Schedule of details of impaired loans, segregated by category	Average recorded investment is calculated using the most recent four quarters (dollars in thousands) : As of December 31, 2023 Unpaid Recorded Investment Average With No With Total Related Loans evaluated individually Commercial loans: Commercial $ 7,283 $ 585 $ 1,785 $ 2,370 $ 785 $ 5,244 Commercial real estate 2,600 610 85 695 85 3,865 Real estate construction — — — — — 49 Commercial loans evaluated individually 9,883 1,195 1,870 3,065 870 9,158 Retail loans: Retail real estate 213 61 25 86 25 790 Retail loans evaluated individually 213 61 25 86 25 790 Total loans evaluated individually $ 10,096 $ 1,256 $ 1,895 $ 3,151 $ 895 $ 9,948 As of December 31, 2022 Unpaid Recorded Investment Average With No With Total Related Loans evaluated individually Commercial loans: Commercial $ 9,589 $ 656 $ 5,918 $ 6,574 $ 2,476 $ 6,761 Commercial real estate 8,039 2,334 3,903 6,237 2,000 5,219 Real estate construction 247 247 — 247 — 260 Commercial loans evaluated individually 17,875 3,237 9,821 13,058 4,476 12,240 Retail loans: Retail real estate 2,733 2,564 25 2,589 25 2,311 Retail loans evaluated individually 2,733 2,564 25 2,589 25 2,311 Total loans evaluated individually $ 20,608 $ 5,801 $ 9,846 $ 15,647 $ 4,501 $ 14,551
Schedule of activity on the allowance for loan losses	The following table summarizes activity in the ACL attributable to each loan class. Allocation of a portion of the ACL to one loan class does not preclude its availability to absorb losses in other loan classes (dollars in thousands) : Commercial Commercial Real Estate Retail Real Retail Other Total ACL Balance, December 31, 2020 $ 23,866 $ 46,230 $ 8,193 $ 21,992 $ 767 $ 101,048 Day 1 PCD 1 3,546 336 — 129 167 4,178 Provision for credit losses (2,160) (7,651) (3,180) (4,456) 2,346 (15,101) Charged-off (2,026) (925) (209) (1,145) (478) (4,783) Recoveries 629 259 298 1,069 290 2,545 ACL balance, December 31, 2021 23,855 38,249 5,102 17,589 3,092 87,887 Provision for credit losses 497 892 1,142 219 1,873 4,623 Charged-off (1,069) (1,375) (23) (251) (461) (3,179) Recoveries 577 533 236 636 295 2,277 ACL balance, December 31, 2022 23,860 38,299 6,457 18,193 4,799 91,608 Provision for credit losses (727) (2,455) (1,465) 7,922 (876) 2,399 Charged-off (2,429) (953) — (407) (629) (4,418) Recoveries 552 574 171 590 264 2,151 ACL balance, December 31, 2023 $ 21,256 $ 35,465 $ 5,163 $ 26,298 $ 3,558 $ 91,740 __________________________________________ 1. The Day 1 PCD is attributable to the CAC acquisition, finalized May 31, 2021.
Schedule of allowance for loan losses and recorded investments in portfolio loans, by category	The following tables present the ACL and amortized cost of portfolio loans by loan category and class (dollars in thousands) : As of December 31, 2023 Portfolio Loans ACL Attributed to Portfolio Loans Collectively Individually Total Collectively Individually Total Portfolio loans and related ACL Commercial loans: Commercial $ 1,833,624 $ 2,370 $ 1,835,994 $ 20,471 $ 785 $ 21,256 Commercial real estate 3,336,642 695 3,337,337 35,380 85 35,465 Real estate construction 461,717 — 461,717 5,163 — 5,163 Commercial loans and related ACL 5,631,983 3,065 5,635,048 61,014 870 61,884 Retail loans: Retail real estate 1,720,369 86 1,720,455 26,273 25 26,298 Retail other 295,531 — 295,531 3,558 — 3,558 Retail loans and related ACL 2,015,900 86 2,015,986 29,831 25 29,856 Portfolio loans and related ACL $ 7,647,883 $ 3,151 $ 7,651,034 $ 90,845 $ 895 $ 91,740 As of December 31, 2022 Portfolio Loans ACL Attributed to Portfolio Loans Collectively Individually Total Collectively Individually Total Portfolio loans and related ACL Commercial loans: Commercial $ 1,967,580 $ 6,574 $ 1,974,154 $ 21,384 $ 2,476 $ 23,860 Commercial real estate 3,255,636 6,237 3,261,873 36,299 2,000 38,299 Real estate construction 530,222 247 530,469 6,457 — 6,457 Commercial loans and related ACL 5,753,438 13,058 5,766,496 64,140 4,476 68,616 Retail loans: Retail real estate 1,654,493 2,589 1,657,082 18,168 25 18,193 Retail other 302,124 — 302,124 4,799 — 4,799 Retail loans and related ACL 1,956,617 2,589 1,959,206 22,967 25 22,992 Portfolio loans and related ACL $ 7,710,055 $ 15,647 $ 7,725,702 $ 87,107 $ 4,501 $ 91,608

OTHER REAL ESTATE OWNED AND O_2

OTHER REAL ESTATE OWNED AND OTHER REPOSSESSED ASSETS (Tables)	12 Months Ended
	Dec. 31, 2023
Other Real Estate, Foreclosed Assets, and Repossessed Assets [Abstract]
Schedule of OREO and other repossessed assets balances	The following table summarizes the composition of Busey’s OREO and other repossessed asset balances as of the periods presented (dollars in thousands) : As of December 31, 2023 2022 OREO Residential $ 125 $ 70 Total OREO 125 70 Other repossessed assets — 780 OREO and other repossessed assets $ 125 $ 850
Schedule of activity related to OREO and other repossessed assets	The following table summarizes changes in the balance OREO and other repossessed assets (dollars in thousands) : Years Ended December 31, 2023 2022 2021 OREO and other repossessed assets at January 1 $ 850 $ 4,416 $ 4,571 Additions, transfers from loans 189 175 1,610 Sales (770) (2,565) (1,721) Cash payments collected (44) (565) (43) Impairment of OREO and other repossessed assets (100) (611) (1) OREO and other repossessed assets at December 31 $ 125 $ 850 $ 4,416
Schedule of activity related to foreclosed assets	OREO and other repossessed assets. The table below summarizes the effect of these activities, included in Other expense on Busey’s Consolidated Statements of Income (dollars in thousands) : Years Ended December 31, 2023 2022 2021 Activity for OREO and other repossessed assets Net loss (gain) on sales $ 54 $ 665 $ 173 Operating expenses, net of income 67 248 468 Activity for OREO and other repossessed assets $ 121 $ 913 $ 641

PREMISES AND EQUIPMENT (Tables)

PREMISES AND EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Schedule of premises and equipment, net	Premises and equipment are summarized as follows (dollars in thousands) : As of December 31, 2023 2022 Premises and equipment Land and improvements $ 43,076 $ 44,193 Buildings and improvements 128,322 128,669 Furniture and equipment 51,077 52,991 Premises and equipment, gross 222,475 225,853 Accumulated depreciation 99,881 99,329 Premises and equipment, net $ 122,594 $ 126,524 Depreciation expense is presented in the table below for the periods indicated (dollars in thousands) : Years Ended December 31, 2023 2022 2021 Depreciation expense $ 9,488 $ 10,482 $ 11,610

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Schedule of lease-related balances	The following table summarizes lease related information and balances Busey reported in its Consolidated Balance Sheets for the periods presented (dollars in thousands) : As of December 31, 2023 2022 Lease balances Right of use assets $ 11,027 $ 12,829 Lease liabilities 11,308 12,995 Supplemental information Year through which lease terms extend 2037 2037 Weighted average remaining lease term 8.39 years 8.90 years Weighted average discount rate 3.59 % 3.45 %
Schedule of lease costs and other lease information	The following table represents lease costs and cash flows related to leases for the periods presented (dollars in thousands) : Years Ended December 31, 2023 2022 2021 Lease costs Operating lease costs $ 2,395 $ 2,495 $ 2,464 Variable lease costs 38 365 540 Short-term lease costs 50 22 49 Total lease cost 1 $ 2,483 $ 2,882 $ 3,053 Cash flows related to leases Cash paid for amounts included in the measurement of lease liabilities: Operating lease cash flows – Fixed payments $ 2,290 $ 3,080 $ 2,417 Operating lease cash flows – Liability reduction 1,883 2,285 2,217 Right of use assets obtained during the period in exchange for operating lease liabilities 2 231 6,206 5,818 ___________________________________________ 1. Lease costs are included in net occupancy and equipment expense in the Consolidated Statements of Income . 2. The year ended December 31, 2021, includes $0.4 million related to a lease obtained in the acquisition of CAC.
Schedule of future undiscounted lease payments	Future undiscounted lease payments with initial terms of one year or more, are as follows (dollars in thousands) : As of Rent commitments 2024 $ 2,023 2025 1,768 2026 1,443 2027 1,277 2028 1,255 Thereafter 5,478 Total undiscounted cash flows 13,244 Less: Amounts representing interest 1,936 Present value of net future minimum lease payments $ 11,308
Schedule of revenue recorded in connection with leases	Revenues recorded in connection with these leases, reported in other income on our Consolidated Statements of Income , are summarized as follows (dollars in thousands) : Years Ended December 31, 2023 2022 2021 Rental income $ 724 $ 707 $ 566

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Carrying Amount of Goodwill by Operating Segment	The carrying amount of goodwill by operating segment is as follows (dollars in thousands) : As of December 31, 2023 2022 Goodwill Banking $ 294,773 $ 294,773 Wealth Management 14,108 14,108 FirsTech 8,992 8,992 Total goodwill $ 317,873 $ 317,873
Schedule of Other Intangible Asset Disclosures	Core deposit and customer relationship intangible assets are amortized over the estimated period during which Busey expects to benefit from the assets. Intangible asset disclosures are as follows (dollars in thousands) : As of December 31, 2023 Core deposit Customer Total Intangible Assets Intangible assets, gross $ 99,065 $ 33,138 $ 132,203 Accumulated amortization 71,092 25,120 96,212 Intangible assets, net $ 27,973 $ 8,018 $ 35,991 As of December 31, 2022 Core deposit Customer Total Intangible Assets Intangible assets, gross $ 99,065 $ 33,138 $ 132,203 Accumulated amortization 63,476 22,304 85,780 Intangible assets, net $ 35,589 $ 10,834 $ 46,423
Schedule of Amortization Expense Relating to Intangible Assets	Amortization expense related to intangible assets, as reflected in Busey's Consolidated Statements of Income , is presented in the table below (dollars in thousands) : Years Ended December 31, 2023 2022 2021 Amortization Expense Core deposit intangible $ 7,616 $ 8,315 $ 8,253 Customer relationship intangible 2,816 3,313 3,021 Amortization of intangible assets $ 10,432 $ 11,628 $ 11,274
Schedule of Carrying Amount of Amortized Intangible Assets	Future expense for the amortization of intangible assets, as estimated, is summarized in the table below (dollars in thousands) : As of December 31, 2023 Core deposit Customer Total Estimated amortization expense 2024 $ 6,902 $ 2,318 $ 9,220 2025 5,956 1,887 7,843 2026 5,227 1,479 6,706 2027 4,490 1,091 5,581 2028 3,740 703 4,443 Thereafter 1,658 540 2,198 Total estimated amortization expense $ 27,973 $ 8,018 $ 35,991

DEPOSITS (Tables)

DEPOSITS (Tables)	12 Months Ended
	Dec. 31, 2023
Deposits [Abstract]
Schedule of Composition of Deposits	The composition of Busey’s deposits is as follows (dollars in thousands) : As of December 31, 2023 2022 Deposits Noninterest-bearing demand deposits $ 2,834,655 $ 3,393,666 Interest-bearing transaction deposits 2,717,139 2,857,818 Saving deposits and money market deposits 2,920,088 2,964,421 Time deposits 1,819,274 855,375 Total deposits $ 10,291,156 $ 10,071,280 Additional information about Busey’s deposits follows (dollars in thousands) : As of December 31, 2023 2022 Brokered savings deposits and money market deposits $ 6,001 $ 1,303 Brokered time deposits 285 275 Total time deposits with a minimum denomination of $100,000 1,072,189 416,445 Total time deposits with a minimum denomination that meets or exceeds the FDIC insurance limit of $250,000 386,286 120,377
Schedule of Maturities of time Deposits	Scheduled maturities of time deposits are as follows (dollars in thousands) : As of Time deposits by schedule of maturities 2024 $ 1,705,846 2025 68,738 2026 21,222 2027 12,470 2028 10,451 Thereafter 547 Time deposits $ 1,819,274

BORROWINGS (Tables)

BORROWINGS (Tables)	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Schedule of Distribution of Securities Sold Under Agreements to Repurchase and Short-term Borrowings and Weighted Average Interest Rates	Securities sold under agreements to repurchase were as follows (dollars in thousands) : As of December 31, 2023 2022 Securities sold under agreements to repurchase $ 187,396 $ 229,806 Weighted average rate for securities sold under agreements to repurchase 3.26 % 1.91 %
Schedule of Short-Term Debt	Busey’s short-term borrowings include loans maturing within one year of the loan origination date, as well as the current portion of long-term debt that is due within 12 months. Short-term borrowings are summarized as follows (dollars in thousands) : As of December 31, 2023 2022 Short-term borrowings FHLB advances maturing in less than one year from date of origination, and the current portion of long-term FHLB advances due within 12 months $ — $ 339,054 Term Loan, current portion due within 12 months 12,000 12,000 Total short-term debt $ 12,000 $ 351,054
Schedule of Long-Term Debt	Busey’s long-term debt consists of loans maturing more than one year from the loan origination date, excluding the current portion that is due within 12 months. Long-term debt is summarized as follows (dollars in thousands) : As of December 31, 2023 2022 Long-term debt Term Loan $ 18,000 $ 30,000 Total long-term debt $ 18,000 $ 30,000
Schedule of Unamortized Debt Issuance Cost	As of December 31, 2023 2022 Unamortized debt issuance costs Subordinated notes issued in 2020 $ 735 $ 1,220 Subordinated notes issued in 2022 1,383 1,742 Total unamortized debt issuance costs $ 2,118 $ 2,962

REGULATORY CAPITAL (Tables)

REGULATORY CAPITAL (Tables)	12 Months Ended
	Dec. 31, 2023
Banking and Thrift, Other Disclosure [Abstract]
Schedule of applicable holding company and bank regulatory capital requirements	The following tables summarize regulatory capital requirements applicable to Busey and its subsidiary bank (dollars in thousands) : As of December 31, 2023 Actual Minimum Minimum Amount Ratio Amount Ratio Amount Ratio Common equity Tier 1 capital to risk weighted assets First Busey $ 1,155,973 13.09 % $ 397,331 4.50 % $ 573,923 6.50 % Busey Bank $ 1,362,962 15.48 % $ 396,128 4.50 % $ 572,185 6.50 % Tier 1 capital to risk weighted assets First Busey $ 1,229,973 13.93 % $ 529,775 6.00 % $ 706,367 8.00 % Busey Bank $ 1,362,962 15.48 % $ 528,171 6.00 % $ 704,228 8.00 % Total capital to risk weighted assets First Busey $ 1,540,318 17.44 % $ 706,367 8.00 % $ 882,958 10.00 % Busey Bank $ 1,448,307 16.45 % $ 704,228 8.00 % $ 880,285 10.00 % Leverage ratio of Tier 1 capital to average assets First Busey $ 1,229,973 10.08 % $ 488,315 4.00 % N/A N/A Busey Bank $ 1,362,962 11.19 % $ 487,103 4.00 % $ 608,879 5.00 % As of December 31, 2022 Actual Minimum Minimum Amount Ratio Amount Ratio Amount Ratio Common equity Tier 1 capital to risk weighted assets First Busey $ 1,081,686 11.96 % $ 406,980 4.50 % $ 587,861 6.50 % Busey Bank $ 1,306,716 14.49 % $ 405,736 4.50 % $ 586,063 6.50 % Tier 1 capital to risk weighted assets First Busey $ 1,155,686 12.78 % $ 542,640 6.00 % $ 723,521 8.00 % Busey Bank $ 1,306,716 14.49 % $ 540,981 6.00 % $ 721,308 8.00 % Total capital to risk weighted assets First Busey $ 1,457,994 16.12 % $ 723,521 8.00 % $ 904,401 10.00 % Busey Bank $ 1,384,024 15.35 % $ 721,308 8.00 % $ 901,635 10.00 % Leverage ratio of Tier 1 capital to average assets First Busey $ 1,155,686 9.45 % $ 489,124 4.00 % N/A N/A Busey Bank $ 1,306,716 10.72 % $ 487,541 4.00 % $ 609,426 5.00 %

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Schedule of the components of income taxes	Components of Busey’s income tax expense consist of the following (dollars in thousands) : Years Ended December 31, 2023 2022 2021 Income tax expense Current expense: Federal $ 20,139 $ 20,815 $ 20,261 State 14,120 13,883 8,448 Deferred expense: Federal (1,557) (700) 3,644 State (1,363) (572) 1,021 Total income tax expense $ 31,339 $ 33,426 $ 33,374
Schedule of the reconciliation of federal and state income taxes at statutory rates to the income taxes included in the statements of income	A reconciliation of federal and state income taxes at statutory rates to Busey’s income taxes included in the accompanying Consolidated Statements of Income is as follows: Years Ended December 31, 2023 2022 2021 Percent of pretax income Income tax at federal statutory rate 21.0 % 21.0 % 21.0 % Effect of: Tax-exempt interest, net (1.0) % (1.1) % (1.1) % Stock incentive 0.2 % 0.1 % — % State income taxes, net 6.5 % 6.5 % 4.5 % Income on bank owned life insurance (0.6) % (0.5) % (0.7) % Tax credit investments (6.0) % (5.6) % (3.6) % Other, net 0.3 % 0.3 % 1.2 % Effective income tax rate 20.4 % 20.7 % 21.3 %
Schedule of the deferred tax assets and liabilities	Net deferred taxes, reported in other assets or other liabilities in Busey’s Consolidated Balance Sheets , include the following amounts of deferred tax assets and liabilities (dollars in thousands) : As of December 31, 2023 2022 Deferred taxes Deferred tax assets: ACL $ 27,068 $ 26,979 Unrealized loss on cash flow hedge 6,654 8,365 Unrealized losses on securities available for sale, net 70,423 88,666 Unrealized losses on securities held to maturity 10,156 11,919 Stock-based compensation 5,767 5,504 Deferred compensation — 53 Purchase accounting adjustments 764 656 Accrued vacation 456 411 Lease liabilities 3,092 3,564 Employee costs 4,789 3,298 Unrealized loss on equity securities 75 — Other 67 376 Total deferred tax assets 129,311 149,791 Deferred tax liabilities: Basis in premises and equipment (2,830) (1,541) Affordable housing partnerships and other investments (8,341) (6,669) Purchase accounting adjustments (1,133) (1,207) Mortgage servicing assets (1,336) (2,132) Basis in core deposit, customer intangible assets, and asset purchase goodwill (4,709) (6,956) Deferred loan origination costs (3,691) (3,845) Right of use assets (3,015) (3,518) Unrealized gain on equity securities — (512) Other (251) (586) Total deferred tax liabilities (25,306) (26,966) Net deferred tax asset $ 104,005 $ 122,825

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	12 Months Ended
	Dec. 31, 2023
Employee Benefit Plans
Schedule of expenses related to the employee benefit plans	Expenses related to Busey’s employee benefit plans, reported in salaries, wages, and employee benefits in the accompanying Consolidated Statements of Income , are summarized in the table below (dollars in thousands) : Years Ended December 31, 2023 2022 2021 401(k) Plan expenses Safe Harbor match expenses $ 3,745 $ 4,094 $ 3,708 Profit-sharing expenses 3,031 2,960 2,823 Total 401(k) Plan expenses $ 6,776 $ 7,054 $ 6,531

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Changes in, the Company's Stock Option Awards	A summary of the status of, and changes in, Busey's stock option awards follows (dollars in thousands, except weighted-average exercise price) : Options Shares Weighted- Weighted- Intrinsic Outstanding at December 31, 2022 26,106 $ 23.53 3.88 $ 31 Forfeited (4,840) 23.53 Outstanding at December 31, 2023 21,266 23.53 2.88 27 Exercisable at December 31, 2023 21,266 23.53 2.88 27
Schedule of Changes in the Company's RSU, PSU, and DSU Awards	A summary of changes in Busey’s RSU awards for the year ended December 31, 2023, is as follows: RSU Awards Shares Weighted- Nonvested at December 31, 2022 1,096,931 $ 23.61 Granted 224,316 20.44 Dividend equivalents earned 58,930 20.16 Vested (154,995) 29.71 Forfeited (183,738) 22.33 Nonvested at December 31, 2023 1,041,444 $ 22.05 A summary of changes in Busey’s PSU awards for the year ended December 31, 2023, is as follows: PSU Awards Shares 1 Weighted- Nonvested at December 31, 2022 285,351 $ 25.40 Granted 224,331 20.04 Dividend equivalents earned 1,728 23.28 Vested (83,399) 23.86 Forfeited (88,923) 23.80 Adjustment for performance conditions 2 2,612 25.52 Nonvested at December 31, 2023 341,700 $ 22.67 Vested and outstanding at December 31, 2023³ 65,996 $ 23.48 ___________________________________________ 1. Shares for PSU awards represent target shares at grant date. 2. Adjustments for performance conditions represent the difference between the number of target shares at grant date and the number of actual shares earned for the performance period completed. 3. PSUs granted in 2021 vested on December 31, 2023. Shares are reported at target amounts. Performance determination and settlement activity will take place in the first quarter of 2024. A summary of changes in Busey’s DSU awards for the year ended December 31, 2023, is as follows: DSU Awards Shares Weighted- Nonvested at December 31, 2022 31,085 $ 25.75 Granted 41,548 20.44 Dividend equivalents earned 8,334 20.09 Vested (37,868) 24.76 Forfeited (73) 20.44 Nonvested at December 31, 2023 43,026 $ 20.41 Vested and outstanding at December 31, 2023 144,137 $ 23.52
Schedule of Stock-based Compensation Expense	Busey recognized compensation expense related to non-vested RSU, PSU, and DSU awards, as well as the 2021 ESPP, as summarized in the table below (dollars in thousands) : Years Ended December 31, 2023 2022 2021 Stock-based compensation expense RSU awards $ 2,622 $ 4,648 $ 5,809 PSU awards 1 2,962 3,240 979 DSU awards 833 876 962 2021 ESPP 178 204 114 Total stock-based compensation expense $ 6,595 $ 8,968 $ 7,864 ___________________________________________ 1. Expense for PSU awards with a market-based total stockholder return performance goal represents amounts based on target shares at the grant date. Expense for PSU awards with return on average tangible common equity and compounded annual revenue growth rate performance goals represents amounts based on target shares at the grant date, adjusted for performance expectations as of the date indicated.
Schedule of Unamortized Stock-based Compensation Expense	Unamortized stock-based compensation expense is presented in the table below (dollars in thousands) : As of December 31, 2023 2022 Unamortized stock-based compensation RSU awards $ 6,842 $ 8,570 PSU awards 1 3,607 4,279 DSU awards 190 175 Total unamortized stock-based compensation $ 10,639 $ 13,024 Weighted average period over which expense is to be recognized 2.4 years 2.5 years ___________________________________________ 1. Unamortized expense for PSU awards with a market-based total stockholder return performance goal represents amounts based on target shares at grant date. Unamortized expense for PSU awards with return on average tangible common equity and compounded annual revenue growth rate performance goals represents amounts based on target shares at grant date, adjusted for performance expectations as of the date indicated.

TRANSACTIONS WITH RELATED PAR_2

TRANSACTIONS WITH RELATED PARTIES (Tables)	12 Months Ended
	Dec. 31, 2023
Related Party Transactions [Abstract]
Schedule of the analysis of the changes in loans to related parties	The following table presents changes in loans to related parties, as a group (dollars in thousands) : As of and for the Year Ended Balance of loans to related parties, December 31, 2022 $ 55,341 Change in relationship 9,247 New loans/advances 34,116 Repayments (21,055) Balance of loans to related parties, December 31, 2023 $ 77,649 Unused commitments to directors and executive officers $ 4,692

OUTSTANDING COMMITMENTS AND C_2

OUTSTANDING COMMITMENTS AND CONTINGENT LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Schedule of contractual amount of exposure to off-balance-sheet risk	A summary of the contractual amount of Busey’s exposure to off-balance-sheet risk relating to the Company’s commitments to extend credit and standby letters of credit follows (dollars in thousands) : As of December 31, 2023 2022 Financial instruments whose contract amounts represent credit risk Commitments to extend credit $ 2,132,500 $ 1,991,769 Standby letters of credit 43,996 33,008 Total commitments $ 2,176,496 $ 2,024,777

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of financial instruments owned and pledged as collateral	The principal balance of loans Busey has pledged as collateral to the FHLB and Federal Reserve Bank for liquidity as set forth in the table below (dollars in thousands) : As of December 31, 2023 2022 Pledged loans FHLB $ 4,865,481 $ 5,095,448 Federal Reserve Bank 722,914 804,718 Total pledged loans $ 5,588,395 $ 5,900,166 To secure its obligations under derivative contracts, Busey pledged cash and held collateral as follows (dollars in thousands) : As of December 31, 2023 2022 Cash pledged to secure obligations under derivative contracts $ 34,210 $ 38,609 Collateral held to secure obligations under derivative contracts 19,280 29,830
Summary of the interest-rate swaps designated as cash flow hedges	A summary of the interest-rate swaps designated as cash flow hedges is presented below (dollars in thousands) : As of December 31, Location 2023 2022 Debt Swap Notional amount $ 50,000 $ 50,000 Weighted average fixed pay rates 1.79 % 1.79 % Weighted average variable 3-month LIBOR receive rates 5.61 % 4.77 % Weighted average maturity 0.71 years 1.71 years Loan Swap Notional amount $ 300,000 $ 300,000 Weighted average fixed receive rates 4.81 % 4.81 % Weighted average variable Prime pay rates 8.50 % 7.32 % Weighted average maturity 5.10 years 6.10 years Gross aggregate fair value of the swaps Gross aggregate fair value of swap assets Other assets $ 1,293 $ 2,535 Gross aggregate fair value of swap liabilities Other liabilities $ 25,411 $ 32,367 Balances carried in AOCI Unrealized gains (losses) on cash flow hedges, net of tax AOCI $ (16,694) $ (20,985)
Reclassification of unrealized gains and losses from OCI	Busey expects to reclassify unrealized gains and losses from OCI to interest income and interest expense as shown in the following table, during the next 12 months (dollars in thousands) . Amounts actually recognized could differ from these expectations due to changes in interest rates, hedge de-designations, and the addition of other hedges subsequent to December 31, 2023. As of Unrealized gains (losses) in OCI expected to be recognized in income Unrealized losses expected to be reclassified from OCI to interest income $ (952) Unrealized gains expected to be reclassified from OCI to interest expense 483 Net unrealized gains (losses) in OCI expected to be recognized in net interest income $ (469)
Schedule of interest income (expense) recorded on swap transactions	Interest income (expense) recorded on swap transactions was as follows for the periods presented (dollars in thousands) : Years Ended December 31, 2023 2022 2021 Interest on swap transactions Increase (decrease) in interest income on swap transactions $ (10,326) $ (553) $ — (Increase) decrease in interest expense on swap transactions 1,757 (30) (1,067) Net increase (decrease) in net interest income on swap transactions $ (8,569) $ (583) $ (1,067)
Summary of net gains (losses) relating to these derivative instruments	The following table reflects the net gains (losses) recorded in AOCI and the Consolidated Statements of Comprehensive Income relating to cash flow derivative instruments for the periods presented (dollars in thousands) : Years Ended December 31, 2023 2022 2021 Unrealized gains (losses) on cash flow hedges Net gain (loss) recognized in OCI, net of tax $ (1,835) $ (20,717) $ 736 (Gain) loss reclassified from OCI to interest income, net of tax 7,382 395 — (Gain) loss reclassified from OCI to interest expense, net of tax (1,256) 22 763 Net change in unrealized gains (losses) on cash flow hedges, net of tax $ 4,291 $ (20,300) $ 1,499 Changes in fair value of these derivative assets and liabilities were recorded in noninterest expense in the Consolidated Statements of Income and are summarized as follows (dollars in thousands) : Years Ended December 31, Location 2023 2022 2021 Interest rate swaps Pay floating, receive fixed Noninterest expense $ (11,525) $ 19,308 $ (12,587) Pay fixed, receive floating Noninterest expense 11,525 (19,308) 12,587 Net change in fair value of interest rate swaps $ — $ — $ — Net gains (losses) relating to these derivative instruments are summarized as follows for the periods presented (dollars in thousands) : Years Ended December 31, Location 2023 2022 2021 Net gains (losses) Interest rate lock commitments Mortgage revenue $ — $ 15 $ 1,702 Forward sales commitments Mortgage revenue 2 (38) (4,045) Net gains (losses) $ 2 $ (23) $ (2,343)
Summary of fair values of derivative assets and liabilities recorded in consolidated balance sheet	Amounts and fair values of derivative assets and liabilities related to customer interest rate swaps, included in other assets and other liabilities in the Consolidated Balance Sheets , are summarized as follows (dollars in thousands) : As of December 31, 2023 Derivative Asset Derivative Liability Notional Fair Notional Fair Derivatives not designated as hedging instruments Interest rate swaps – pay floating, receive fixed $ 177,883 $ 2,375 $ 485,253 $ 26,289 Interest rate swaps – pay fixed, receive floating 485,253 26,289 177,883 2,375 Total derivatives not designated as hedging instruments $ 663,136 $ 28,664 $ 663,136 $ 28,664 As of December 31, 2022 Derivative Asset Derivative Liability Notional Fair Notional Fair Derivatives not designated as hedging instruments Interest rate swaps – pay floating, receive fixed $ 48,728 $ 370 $ 528,183 $ 39,685 Interest rate swaps – pay fixed, receive floating 528,183 39,685 48,728 370 Total derivatives not designated as hedging instruments $ 576,911 $ 40,055 $ 576,911 $ 40,055 Amounts and fair values of mortgage banking derivatives included in the Consolidated Balance Sheets are summarized as follows (dollars in thousands) : As of December 31, 2023 As of December 31, 2022 Location Notional Fair Notional Fair Mortgage banking derivative assets Interest rate lock commitments Other assets $ 3,477 $ 25 $ 1,517 $ 16 Forward sales commitments Other assets 1,761 11 83 1 Mortgage banking derivative assets $ 5,238 $ 36 $ 1,600 $ 17 Mortgage banking derivative liabilities Interest rate lock commitments Other liabilities $ 1,615 $ 10 $ 83 $ 1 Forward sales commitments Other liabilities 5,216 47 2,757 39 Mortgage banking derivative liabilities $ 6,831 $ 57 $ 2,840 $ 40
Schedule of notional amount and fair value of risk participation agreement	The notional amount of the risk participation agreements reflect Busey's pro-rata share of the derivative instrument, consistent with its share of the related participated loan. The risk participation agreements mature between 2024 and 2029, and are summarized as follows (dollars in thousands) : As of December 31, 2023 2022 Risk participation agreements purchased Number of risk participation agreements 3 2 Notional amount $ 34,251 $ 18,899 Fair value 15 5 Risk participation agreements sold Number of risk participation agreements 1 — Notional amount $ 20,001 — Fair value — —

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Schedule of financial assets and financial liabilities measured at fair value on a recurring basis	The following tables summarize financial assets and financial liabilities measured at fair value on a recurring basis as of December 31, 2023, and 2022, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value (dollars in thousands) : As of December 31, 2023 Level 1 Level 2 Level 3 Total Debt securities available for sale: U.S. Treasury securities $ — $ 15,946 $ — $ 15,946 Obligations of U.S. government corporations and agencies — 5,832 — 5,832 Obligations of states and political subdivisions — 172,845 — 172,845 Asset-backed securities — 468,223 — 468,223 Commercial mortgage-backed securities — 103,509 — 103,509 Residential mortgage-backed securities — 1,111,312 — 1,111,312 Corporate debt securities — 209,904 — 209,904 Equity securities 448 9,364 — 9,812 Derivative assets — 29,993 15 30,008 Derivative liabilities — 54,132 — 54,132 As of December 31, 2022 Level 1 Level 2 Level 3 Total Debt securities available for sale: U.S. Treasury securities $ — $ 114,061 $ — $ 114,061 Obligations of U.S. government corporations and agencies — 19,779 — 19,779 Obligations of states and political subdivisions — 257,512 — 257,512 Asset-backed securities — 469,875 — 469,875 Commercial mortgage-backed securities — 108,394 — 108,394 Residential mortgage-backed securities — 1,243,256 — 1,243,256 Corporate debt securities — 248,516 — 248,516 Equity securities — 11,535 — 11,535 Derivative assets — 42,607 5 42,612 Derivative liabilities — 72,462 — 72,462
Schedule of assets and liabilities measured at fair value on a non-recurring basis	The following tables summarize assets and liabilities measured at fair value on a non-recurring basis for the periods presented, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value (dollars in thousands) : As of December 31, 2023 Level 1 Level 2 Level 3 Total Loans evaluated individually, net of related allowance $ — $ — $ 1,000 $ 1,000 Bank property held for sale with impairment — — 4,286 4,286 As of December 31, 2022 Level 1 Level 2 Level 3 Total Loans evaluated individually, net of related allowance $ — $ — $ 5,345 $ 5,345 Bank property held for sale with impairment — — 7,923 7,923
Schedule of quantitative information about Level 3 fair value measurements	The following table presents additional quantitative information about assets measured at fair value on a non-recurring basis for which the Company has utilized Level 3 inputs to determine fair value (dollars in thousands) : As of December 31, 2023 Fair Value Valuation Unobservable Range Loans evaluated individually, net of related allowance $ 1,000 Appraisal of collateral Appraisal adjustments -41.2% to -100.0% (-47.2)% Bank property held for sale with impairment 4,286 Appraisal of collateral or real estate listing price Appraisal adjustments -6.2% to -64.9% (-38.4)% As of December 31, 2022 Fair Value Valuation Unobservable Range Loans evaluated individually, net of related allowance $ 5,345 Appraisal of collateral Appraisal adjustments -22.7% to -100.0% (-45.7)% Bank property held for sale with impairment 7,923 Appraisal of collateral or real estate listing price Appraisal adjustments -0.7% to -70.1% (-35.1)%
Schedule of estimated fair values of financial instruments	Financial Assets and Financial Liabilities That Are Not Carried at Fair Value Estimated fair values of financial instruments that are not carried at fair value in the Company’s Consolidated Balance Sheets, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value, were as follows (dollars in thousands) : As of December 31, 2023 As of December 31, 2022 Carrying Fair Carrying Fair Financial assets Level 1 inputs: Cash and cash equivalents $ 719,581 $ 719,581 $ 227,164 $ 227,164 Level 2 inputs: Debt securities held to maturity 872,628 730,397 918,312 785,295 Loans held for sale 2,379 2,401 1,253 1,276 Accrued interest receivable 45,288 45,288 43,372 43,372 Level 3 inputs: Portfolio loans, net 7,559,294 7,276,905 7,634,094 7,320,422 Mortgage servicing rights 3,289 18,079 5,861 18,284 Other servicing rights 1,597 2,062 1,914 2,331 Financial liabilities Level 2 inputs: Time deposits $ 1,819,274 $ 1,804,905 $ 855,375 $ 830,596 Securities sold under agreements to repurchase 187,396 187,396 229,806 229,806 Short-term borrowings 12,000 12,034 351,054 351,085 Long-term debt 18,000 18,020 30,000 30,052 Junior subordinated debt owed to unconsolidated trusts 71,993 57,153 71,810 59,111 Accrued interest payable 28,418 28,418 3,978 3,978 Level 3 inputs: Subordinated notes, net of unamortized issuance costs 222,882 200,000 222,038 208,562

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Schedule of computation of earnings per common share	Earnings per common share have been computed as follows (dollars in thousands, except per share amounts) : Years Ended December 31, 2023 2022 2021 Net income $ 122,565 $ 128,311 $ 123,449 Weighted average number of common shares outstanding, basic 55,432,322 55,387,073 55,369,476 Dilutive effect of common stock equivalents: Options — 1,632 1,639 Warrants 324 1,753 1,753 RSU awards 647,217 665,998 615,759 PSU awards 151,190 58,206 5,429 DSU awards 18,154 15,532 10,641 2021 ESPP 6,941 6,970 4,108 Weighted average number of common shares outstanding, diluted 56,256,148 56,137,164 56,008,805 Basic earnings per common share $ 2.21 $ 2.32 $ 2.23 Diluted earnings per common share 2.18 2.29 2.20
Schedule of shares excluded from computation of diluted earnings per common share	Average shares that were excluded from the computation of diluted earnings per common share because their effect would have been anti-dilutive are summarized in the table below for the periods presented: Years Ended December 31, 2023 2022 2021 Anti-dilutive common stock equivalents Options 21,981 7,792 — RSU awards 39,445 38,912 65,058 PSU awards 106,955 189,000 93,026 DSU awards — — 7,742 Total anti-dilutive common stock equivalents 168,381 235,704 165,826

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	12 Months Ended
	Dec. 31, 2023
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent, Alternative [Abstract]
Summary of changes in AOCI by component	The following tables present changes in AOCI by component, net of tax, for the periods below (dollars in thousands) : Year Ended December 31, 2023 Before Tax Tax Effect Net of Tax Unrealized/Unrecognized gains (losses) on debt securities Balance at beginning of period $ (352,878) $ 100,585 $ (252,293) Unrealized holding gains (losses) on debt securities available for sale, net 58,498 (16,674) 41,824 Amounts reclassified from AOCI, net 5,503 (1,569) 3,934 Amortization of unrecognized losses on securities transferred to held to maturity 6,189 (1,763) 4,426 Balance at end of period $ (282,688) $ 80,579 $ (202,109) Unrealized gains (losses) on cash flow hedges Balance at beginning of period $ (29,350) $ 8,365 $ (20,985) Unrealized holding gains (losses) on cash flow hedges, net (2,567) 732 (1,835) Amounts reclassified from AOCI, net 8,569 (2,443) 6,126 Balance at end of period $ (23,348) $ 6,654 $ (16,694) Total AOCI $ (306,036) $ 87,233 $ (218,803) Year Ended December 31, 2022 Before Tax Tax Effect Net of Tax Unrealized/Unrecognized gains (losses) on debt securities Balance at beginning of period $ (32,272) $ 9,199 $ (23,073) Unrealized holding gains (losses) on debt securities available for sale, net (278,762) 79,460 (199,302) Unrecognized losses on debt securities transferred to held to maturity from available for sale (48,456) 13,812 (34,644) Amounts reclassified from AOCI, net (26) 7 (19) Amortization of unrecognized losses on securities transferred to held to maturity 6,638 (1,893) 4,745 Balance at end of period $ (352,878) $ 100,585 $ (252,293) Unrealized gains (losses) on cash flow hedges Balance at beginning of period $ (958) $ 273 $ (685) Unrealized holding gains (losses) on cash flow hedges, net (28,975) 8,258 (20,717) Amounts reclassified from AOCI, net 583 (166) 417 Balance at end of period $ (29,350) $ 8,365 $ (20,985) Total AOCI $ (382,228) $ 108,950 $ (273,278) Year Ended December 31, 2021 Before Tax Tax Effect Net of Tax Unrealized/Unrecognized gains (losses) on debt securities Balance at beginning of period $ 49,644 $ (14,151) $ 35,493 Unrealized holding gains (losses) on debt securities available for sale, net (81,977) 23,367 (58,610) Amounts reclassified from AOCI, net 61 (17) 44 Balance at end of period $ (32,272) $ 9,199 $ (23,073) Unrealized gains (losses) on cash flow hedges Balance at beginning of period $ (3,055) $ 871 $ (2,184) Unrealized holding gains (losses) on cash flow hedges, net 1,030 (294) 736 Amounts reclassified from AOCI, net 1,067 (304) 763 Balance at end of period $ (958) $ 273 $ (685) Total AOCI $ (33,230) $ 9,472 $ (23,758)

OPERATING SEGMENTS AND RELATE_2

OPERATING SEGMENTS AND RELATED INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
Summary of information relating to operating segments	Following is a summary of selected financial information for Busey’s operating segments. The “other” category included in the tables below consists of the parent company, First Busey Risk Management until its dissolution on December 18, 2023, and the elimination of intercompany transactions (dollars in thousands) : Goodwill Total Assets As of December 31, As of December 31, 2023 2022 2023 2022 Operating segment Banking $ 294,773 $ 294,773 $ 12,125,298 $ 12,199,960 Wealth Management 14,108 14,108 103,147 84,082 FirsTech 8,992 8,992 51,600 48,715 Other — — 3,370 3,920 Consolidated total $ 317,873 $ 317,873 $ 12,283,415 $ 12,336,677 Years Ended December 31, 2023 2022 2021 Net interest income Banking $ 335,345 $ 340,083 $ 285,678 FirsTech 54 65 79 Other (15,948) (16,710) (15,059) Total net interest income $ 319,451 $ 323,438 $ 270,698 Noninterest income Banking $ 46,701 $ 54,154 $ 59,393 Wealth Management 57,823 55,394 53,082 FirsTech 22,746 21,720 19,629 Other (4,886) (4,465) 700 Total noninterest income $ 122,384 $ 126,803 $ 132,804 Noninterest expense Banking $ 223,451 $ 221,997 $ 205,905 Wealth Management 33,081 31,545 29,198 FirsTech 21,653 20,619 17,574 Other 7,347 9,720 9,103 Total noninterest expense $ 285,532 $ 283,881 $ 261,780 Income before income taxes Banking $ 156,196 $ 167,617 $ 154,267 Wealth Management 24,742 23,849 23,884 FirsTech 1,147 1,166 2,134 Other (28,181) (30,895) (23,462) Total income before income taxes $ 153,904 $ 161,737 $ 156,823 Net income Banking $ 123,853 $ 131,596 $ 117,844 Wealth Management 18,804 18,543 18,570 FirsTech 830 847 1,527 Other (20,922) (22,675) (14,492) Total net income $ 122,565 $ 128,311 $ 123,449

PARENT COMPANY ONLY FINANCIAL_2

PARENT COMPANY ONLY FINANCIAL INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract]
Balance sheets	Condensed financial data for First Busey Corporation is presented below. CONDENSED BALANCE SHEETS (dollars in thousands) As of December 31, 2023 2022 Assets Cash and cash equivalents $ 100,098 $ 91,812 Debt securities 987 — Equity securities 9,364 11,535 Investments in subsidiaries: Bank 1,478,118 1,369,261 Non-bank — 2,181 Premises and equipment, net 7 18 Other assets 20,100 22,316 Total assets $ 1,608,674 $ 1,497,123 Liabilities and stockholders' equity Liabilities: Short-term borrowings $ 12,000 $ 12,000 Long-term debt 18,000 30,000 Subordinated notes, net of unamortized issuance costs 222,882 222,038 Junior subordinated debentures owed to unconsolidated trusts 71,993 71,810 Other liabilities 11,818 15,298 Total liabilities 336,693 351,146 Total stockholders' equity 1,271,981 1,145,977 Total liabilities and stockholders' equity $ 1,608,674 $ 1,497,123
Statements of income	Years Ended December 31, 2023 2022 2021 Operating income Dividends from subsidiaries: Bank $ 90,000 $ 95,000 $ 60,000 Non-bank 900 1,630 1,745 Income from dissolution of non-bank subsidiary 733 — — Interest income 2,956 1,094 79 Gains (losses) recognized on equity securities, net (2,171) (2,159) 3,041 Other income 14,130 15,195 12,109 Total operating income 106,548 110,760 76,974 Expense Salaries, wages, and employee benefits 17,766 20,964 17,914 Interest expense 19,005 17,854 15,163 Operating expense 8,009 7,294 7,429 Total expense 44,780 46,112 40,506 Income (loss) before income tax benefit and equity in undistributed (in excess of) net income of subsidiaries 61,768 64,648 36,468 Income tax benefit 7,310 8,286 8,974 Income (loss) before equity in undistributed (in excess of) net income of subsidiaries 69,078 72,934 45,442 Equity in undistributed (in excess of) net income of subsidiaries Bank 53,487 55,986 77,941 Non-bank — (609) 66 Net income $ 122,565 $ 128,311 $ 123,449
Statements of cash flows	Years Ended December 31, 2023 2022 2021 Cash flows provided by (used in) operating activities Net income $ 122,565 $ 128,311 $ 123,449 Adjustments to reconcile net income to net cash provided by (used in) operating activities: Depreciation and amortization 1,038 1,423 882 Distributions more (less) than net income of subsidiaries (53,487) (55,377) (78,007) (Gains) losses recognized on equity securities, net 2,171 2,159 (3,041) Stock-based compensation 6,595 8,968 7,864 (Increase) decrease in other assets 6,253 (17,754) (1,186) Increase (decrease) in other liabilities (7,687) 21,233 (3,302) Net cash provided by (used in) operating activities 77,448 88,963 46,659 Cash flows provided by (used in) investing activities Sales (purchases) of equity securities, net — 598 (5,000) Net cash paid for acquisitions — — (61,656) Purchases of premises and equipment — (9) (15) Repayments of investments in subsidiaries 1,480 — — Net cash provided by (used in) investing activities 1,480 589 (66,671) Cash flows provided by (used in) financing activities Cash paid for withholding taxes on stock-based payments (1,093) (1,276) (997) Cash dividends paid (53,076) (50,863) (50,764) Repayments of borrowings (12,000) (112,000) (18,500) Proceeds from issuance of debt — 98,094 72,500 Proceeds from the exercise of stock options and warrants 9 — — Purchase of treasury stock (4,482) (9,912) (33,043) Common stock issuance costs — — (150) Net cash provided (used in) by financing activities (70,642) (75,957) (30,954) Net increase (decrease) in cash and cash equivalents 8,286 13,595 (50,966) Cash and cash equivalents, beginning of period 91,812 78,217 129,183 Cash and cash equivalents, ending of period $ 100,098 $ 91,812 $ 78,217

SIGNIFICANT ACCOUNTING POLICI_4

SIGNIFICANT ACCOUNTING POLICIES - Trust Assets (Details) - USD ($) $ in Billions	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Assets under care	$ 12.1	$ 11.1

SIGNIFICANT ACCOUNTING POLICI_5

SIGNIFICANT ACCOUNTING POLICIES - Securities (Details) $ in Millions	Dec. 31, 2023 USD ($)
Accounting Policies [Abstract]
Accrued interest receivable for debt securities available for sale debt	$ 13.6

SIGNIFICANT ACCOUNTING POLICI_6

SIGNIFICANT ACCOUNTING POLICIES - Loan Servicing (Details) - USD ($) $ in Billions	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Unpaid principal balances of loans serviced	$ 1.5	$ 1.7

SIGNIFICANT ACCOUNTING POLICI_7

SIGNIFICANT ACCOUNTING POLICIES - Portfolio Loans (Details) - PPP Loans - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Loans
PPP loans outstanding	$ 0.3	$ 0.9
Amortized cost of the loans outstanding	0.3	0.8
Loans outstanding, fees received	0	2.5	$ 20.1
Incurred incremental direct origination costs	0	0.6	4.2
Net interest income for fees	$ 0	$ 1.9	$ 14
Percentage of remaining loan maintains government guarantee	100%

SIGNIFICANT ACCOUNTING POLICI_8

SIGNIFICANT ACCOUNTING POLICIES - Schedule of Estimated Useful Lives for Premises and Equipment (Details)	Dec. 31, 2023
Minimum | Buildings and improvements
Premises and equipment
Estimated Useful Life	3 years
Minimum | Furniture and equipment
Premises and equipment
Estimated Useful Life	3 years
Maximum | Buildings and improvements
Premises and equipment
Estimated Useful Life	40 years
Maximum | Furniture and equipment
Premises and equipment
Estimated Useful Life	10 years

SIGNIFICANT ACCOUNTING POLICI_9

SIGNIFICANT ACCOUNTING POLICIES - Goodwill and Other Intangibles (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Goodwill impairment	$ 0	$ 0

SIGNIFICANT ACCOUNTING POLIC_10

SIGNIFICANT ACCOUNTING POLICIES - Cash Surrender Value of Bank Owned Life Insurance (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Accrued liability	$ 5.6	$ 5.6

SIGNIFICANT ACCOUNTING POLIC_11

SIGNIFICANT ACCOUNTING POLICIES - FHLB Stock (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Investment in FHLB stock	$ 6	$ 19

SIGNIFICANT ACCOUNTING POLIC_12

SIGNIFICANT ACCOUNTING POLICIES - Schedule of Impact of the Busey's other asset investments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Schedule of Equity Method Investments [Line Items]
Other asset investments	$ 127,068	$ 126,349
Funded investments | Other assets
Schedule of Equity Method Investments [Line Items]
Other asset investments	68,516	58,912
Unfunded investments | Other assets
Schedule of Equity Method Investments [Line Items]
Other asset investments	58,552	67,437
Unfunded investments | Other liabilities
Schedule of Equity Method Investments [Line Items]
Unfunded investment obligations	$ 58,552	$ 67,437

SIGNIFICANT ACCOUNTING POLIC_13

SIGNIFICANT ACCOUNTING POLICIES - Other Asset Investments (Details) - Common Class B - Visa Class B Common Shares $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) shares
Schedule of Equity Method Investments [Line Items]
Number of shares sold (in shares) | shares	16,878
Sale of shares pre-tax gain | $	$ 5.5

SIGNIFICANT ACCOUNTING POLIC_14

SIGNIFICANT ACCOUNTING POLICIES - Income Taxes (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
DTA, valuation allowance	$ 0	$ 0
Accruals for payments of interest and penalties	$ 0	$ 0

SIGNIFICANT ACCOUNTING POLIC_15

SIGNIFICANT ACCOUNTING POLICIES - Stock-Based Employee Compensation (Details) - shares		12 Months Ended
	Apr. 14, 2023	Dec. 31, 2023
2020 Equity Plan
Share-based Compensation
Increase in the number of shares authorized for issuance (in shares)	1,350,000
RSU awards
Share-based Compensation
Number of shares of common stock per award (in shares)		1
RSU awards | Minimum
Share-based Compensation
Requisite service periods		1 year
RSU awards | Maximum
Share-based Compensation
Requisite service periods		5 years
PSU awards
Share-based Compensation
Number of shares of common stock per award (in shares)		1
DSU awards
Share-based Compensation
Number of shares of common stock per award (in shares)		1
Vesting period		1 year
Settlement period		30 days
Employee Stock
Share-based Compensation
Percentage of discount to market price		15%

SIGNIFICANT ACCOUNTING POLIC_16

SIGNIFICANT ACCOUNTING POLICIES - Segment Disclosure (Details)	12 Months Ended
	Dec. 31, 2023 segment
Accounting Policies [Abstract]
Number of operating segments	3

SIGNIFICANT ACCOUNTING POLIC_17

SIGNIFICANT ACCOUNTING POLICIES - Off Balance Sheet Arrangements (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Standby letters of credit
Obligation with Joint and Several Liability Arrangement [Line Items]
Liabilities for potential obligations	$ 7.1	$ 6.6

SIGNIFICANT ACCOUNTING POLIC_18

SIGNIFICANT ACCOUNTING POLICIES - Recently Issued Accounting Standards Not Yet Adopted (Details) - USD ($) $ in Thousands		12 Months Ended
	Jan. 01, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Changes in accumulated other comprehensive income (loss) by component, net of tax
Retained earnings		$ (237,197)	$ (168,769)
Decrease in other assets		(17,888)	(56,284)	$ 7,203
Decrease in other liabilities		(12,826)	(2,633)	28,096
Increase in deferred tax assets		$ 2,920	$ 1,272	$ (4,665)
Subsequent Event | Accounting Standards Update 2023-02
Changes in accumulated other comprehensive income (loss) by component, net of tax
Retained earnings	$ 1,400
Decrease in other assets	2,400
Decrease in other liabilities	500
Increase in deferred tax assets	$ 500

DEBT SECURITIES - Schedule of A

DEBT SECURITIES - Schedule of Amortized Cost, Unrealized Gains and Losses, and Fair Values of Securities Classified as AFS and HTM (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Debt Securities, Available-for-Sale [Abstract]
Amortized Cost	$ 2,334,630	$ 2,772,453
Unrealized gross gains	186	144
Unrealized gross losses	(247,245)	(311,204)
Fair Value	2,087,571	2,461,393
Debt Securities, Held-to-Maturity, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract]
Amortized Cost	872,628	918,312
Unrealized gross gains	0	0
Unrealized gross losses	(142,231)	(133,017)
Fair Value	730,397	785,295
U.S. Treasury securities
Debt Securities, Available-for-Sale [Abstract]
Amortized Cost	16,031	117,805
Unrealized gross gains	0	0
Unrealized gross losses	(85)	(3,744)
Fair Value	15,946	114,061
Obligations of U.S. government corporations and agencies
Debt Securities, Available-for-Sale [Abstract]
Amortized Cost	5,889	20,097
Unrealized gross gains	1	3
Unrealized gross losses	(58)	(321)
Fair Value	5,832	19,779
Obligations of states and political subdivisions
Debt Securities, Available-for-Sale [Abstract]
Amortized Cost	190,819	283,481
Unrealized gross gains	52	106
Unrealized gross losses	(18,026)	(26,075)
Fair Value	172,845	257,512
Asset-backed securities
Debt Securities, Available-for-Sale [Abstract]
Amortized Cost	470,046	489,558
Unrealized gross gains	0	0
Unrealized gross losses	(1,823)	(19,683)
Fair Value	468,223	469,875
Commercial mortgage-backed securities
Debt Securities, Available-for-Sale [Abstract]
Amortized Cost	119,044	124,423
Unrealized gross gains	0	0
Unrealized gross losses	(15,535)	(16,029)
Fair Value	103,509	108,394
Debt Securities, Held-to-Maturity, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract]
Amortized Cost	428,526	474,820
Unrealized gross gains	0	0
Unrealized gross losses	(71,000)	(63,738)
Fair Value	357,526	411,082
Residential mortgage-backed securities
Debt Securities, Available-for-Sale [Abstract]
Amortized Cost	1,306,854	1,463,971
Unrealized gross gains	5	2
Unrealized gross losses	(195,547)	(220,717)
Fair Value	1,111,312	1,243,256
Debt Securities, Held-to-Maturity, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract]
Amortized Cost	444,102	443,492
Unrealized gross gains	0	0
Unrealized gross losses	(71,231)	(69,279)
Fair Value	372,871	374,213
Corporate debt securities
Debt Securities, Available-for-Sale [Abstract]
Amortized Cost	225,947	273,118
Unrealized gross gains	128	33
Unrealized gross losses	(16,171)	(24,635)
Fair Value	$ 209,904	$ 248,516

DEBT SECURITIES - Schedule of M

DEBT SECURITIES - Schedule of Maturity of Debt Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Amortized Cost
Due in one year or less	$ 71,960
Due after one year through five years	244,231
Due after five years through ten years	418,655
Due after ten years	1,599,784
Amortized Cost	2,334,630	$ 2,772,453
Fair Value
Due in one year or less	71,429
Due after one year through five years	230,299
Due after five years through ten years	388,864
Due after ten years	1,396,979
Fair Value	2,087,571	2,461,393
Amortized Cost
Due after one year through five years	73,943
Due after five years through ten years	28,489
Due after ten years	770,196
Amortized Cost	872,628	918,312
Fair Value
Due after one year through five years	69,373
Due after five years through ten years	25,824
Due after ten years	635,200
Fair Value	$ 730,397	$ 785,295

DEBT SECURITIES - Schedule of G

DEBT SECURITIES - Schedule of Gains and Losses on Debt Securities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Realized gains and losses on debt securities
Gross gains on debt securities	$ 20	$ 115	$ 543
Gross (losses) on debt securities	(5,523)	(89)	(514)
Realized net gains (losses) on debt securities	$ (5,503)	$ 26	$ 29

DEBT SECURITIES - Narrative (De

DEBT SECURITIES - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Asset Pledged as Collateral
Financial Instruments Owned and Pledged as Collateral [Line Items]
Debt securities, carrying amount	$ 837.4	$ 746.7

DEBT SECURITIES - Schedule of D

DEBT SECURITIES - Schedule of Debt Securities in an Unrealized Loss Position (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Fair Value
Less than 12 months	$ 13,033	$ 1,070,674
12 months or more	2,049,784	1,368,859
Total	2,062,817	2,439,533
Unrealized Losses
Less than 12 months	(65)	(81,841)
12 months or more	(247,180)	(229,363)
Total	(247,245)	(311,204)
Fair Value
Less than 12 months		58,065
12 months or more	730,397	727,230
Total	730,397	785,295
Unrealized Losses
Less than 12 months		(8,009)
12 months or more	(142,231)	(125,008)
Total	(142,231)	(133,017)
U.S. Treasury securities
Fair Value
Less than 12 months	0	74
12 months or more	15,946	113,987
Total	15,946	114,061
Unrealized Losses
Less than 12 months	0	0
12 months or more	(85)	(3,744)
Total	(85)	(3,744)
Obligations of U.S. government corporations and agencies
Fair Value
Less than 12 months	0	19,603
12 months or more	5,709	0
Total	5,709	19,603
Unrealized Losses
Less than 12 months	0	(321)
12 months or more	(58)	0
Total	(58)	(321)
Obligations of states and political subdivisions
Fair Value
Less than 12 months	11,442	166,147
12 months or more	146,797	75,217
Total	158,239	241,364
Unrealized Losses
Less than 12 months	(54)	(10,059)
12 months or more	(17,972)	(16,016)
Total	(18,026)	(26,075)
Asset-backed securities
Fair Value
Less than 12 months	0	390,164
12 months or more	468,223	79,711
Total	468,223	469,875
Unrealized Losses
Less than 12 months	0	(15,648)
12 months or more	(1,823)	(4,035)
Total	(1,823)	(19,683)
Commercial mortgage-backed securities
Fair Value
Less than 12 months	0	89,428
12 months or more	103,509	18,966
Total	103,509	108,394
Unrealized Losses
Less than 12 months	0	(12,623)
12 months or more	(15,535)	(3,406)
Total	(15,535)	(16,029)
Fair Value
Less than 12 months		58,065
12 months or more	357,526	353,017
Total	357,526	411,082
Unrealized Losses
Less than 12 months		(8,009)
12 months or more	(71,000)	(55,729)
Total	(71,000)	(63,738)
Residential mortgage-backed securities
Fair Value
Less than 12 months	141	366,221
12 months or more	1,110,906	876,668
Total	1,111,047	1,242,889
Unrealized Losses
Less than 12 months	(1)	(38,111)
12 months or more	(195,546)	(182,606)
Total	(195,547)	(220,717)
Fair Value
Less than 12 months		0
12 months or more	372,871	374,213
Total	372,871	374,213
Unrealized Losses
Less than 12 months		0
12 months or more	(71,231)	(69,279)
Total	(71,231)	(69,279)
Corporate debt securities
Fair Value
Less than 12 months	1,450	39,037
12 months or more	198,694	204,310
Total	200,144	243,347
Unrealized Losses
Less than 12 months	(10)	(5,079)
12 months or more	(16,161)	(19,556)
Total	$ (16,171)	$ (24,635)

DEBT SECURITIES - Schedule of_2

DEBT SECURITIES - Schedule of Additional Information About Debt Securities Unrealized Loss Position (Details) $ in Thousands	Dec. 31, 2023 USD ($) security	Dec. 31, 2022 USD ($) security
Available for Sale
Debt securities with gross unrealized or unrecognized losses, fair value | $	$ 2,062,817	$ 2,439,533
Gross unrealized or unrecognized losses on debt securities | $	$ 247,245	$ 311,204
Ratio of gross unrealized or unrecognized losses to debt securities with gross unrealized or unrecognized losses	12%	12.80%
Count of debt securities | security	835	1,091
Count of debt securities in an unrealized or unrecognized loss position | security	779	1,032
Held to Maturity
Debt securities with gross unrealized or unrecognized losses, fair value | $	$ 730,397	$ 785,295
Gross unrealized or unrecognized losses on debt securities | $	$ 142,231	$ 133,017
Ratio of gross unrealized or unrecognized losses to debt securities with gross unrealized or unrecognized losses	19.50%	16.90%
Count of debt securities | security	55	55
Count of debt securities in an unrealized or unrecognized loss position | security	55	55
Total
Debt securities with gross unrealized or unrecognized losses, fair value | $	$ 2,793,214	$ 3,224,828
Gross unrealized or unrecognized losses on debt securities | $	$ 389,476	$ 444,221
Ratio of gross unrealized or unrecognized losses to debt securities with gross unrealized or unrecognized losses	13.90%	13.80%
Count of debt securities | security	890	1,146
Count of debt securities in an unrealized or unrecognized loss position | security	834	1,087

PORTFOLIO LOANS - Schedule of D

PORTFOLIO LOANS - Schedule of Distribution of Portfolio Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial loans	$ 7,651,034	$ 7,725,702
ACL	(91,740)	(91,608)	$ (87,887)	$ (101,048)
Portfolio loans, net	7,559,294	7,634,094
Total commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial loans	5,635,048	5,766,496
ACL	(61,884)	(68,616)
Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial loans	1,835,994	1,974,154
ACL	(21,256)	(23,860)	(23,855)	(23,866)
Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial loans	3,337,337	3,261,873
ACL	(35,465)	(38,299)	(38,249)	(46,230)
Real estate construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial loans	461,717	530,469
ACL	(5,163)	(6,457)	(5,102)	(8,193)
Total retail loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial loans	2,015,986	1,959,206
ACL	(29,856)	(22,992)
Retail real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial loans	1,720,455	1,657,082
ACL	(26,298)	(18,193)	(17,589)	(21,992)
Retail other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial loans	295,531	302,124
ACL	$ (3,558)	$ (4,799)	$ (3,092)	$ (767)

PORTFOLIO LOANS - Narrative (De

PORTFOLIO LOANS - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Net deferred loan origination costs	$ 13,500,000	$ 14,000,000
Net accretable purchase accounting adjustments	(4,500,000)	(5,900,000)
Gross interest income that would have been recorded if impaired loans had been current	1,100,000	1,200,000	$ 1,600,000
Amount of interest collected and recognized on a cash basis	400,000	400,000	400,000
Amortized cost of modified loans with subsequent defaults	0	0	0
Collateral dependent loans secured by real estate or business assets	6,100,000	14,000,000
Retail real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans purchased	0	0	$ 32,200,000
Maximum | Total commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Limit where loans are processed through an expedited underwriting process	1,000,000
Watch | Total commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Limit above which loans are annually reviewed	1,000,000
Special Mention | Total commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Limit above which loans are annually reviewed	350,000
PPP Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Amortized cost of the loans outstanding	$ 300,000	$ 800,000

PORTFOLIO LOANS - Schedule of F

PORTFOLIO LOANS - Schedule of Financial Instruments Owned and Pledged as Collateral (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Financial Instruments Owned and Pledged as Collateral [Line Items]
Portfolio loans, net	$ 7,559,294	$ 7,634,094
Asset Pledged as Collateral
Financial Instruments Owned and Pledged as Collateral [Line Items]
Portfolio loans, net	5,588,395	5,900,166
FHLB
Financial Instruments Owned and Pledged as Collateral [Line Items]
Portfolio loans, net	4,865,481	5,095,448
Federal Reserve Bank
Financial Instruments Owned and Pledged as Collateral [Line Items]
Portfolio loans, net	$ 722,914	$ 804,718

PORTFOLIO LOANS - Schedule of R

PORTFOLIO LOANS - Schedule of Risk Grades Segregated by Category of Portfolio Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	$ 7,651,034	$ 7,725,702
Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	6,736,067	6,964,678
Watch
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	747,122	563,897
Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	96,057	91,405
Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	64,347	90,655
Substandard Non-accrual
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	7,441	15,067
Total commercial loans
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	5,635,048	5,766,496
Total commercial loans | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	4,737,796	5,023,108
Total commercial loans | Watch
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	735,978	553,377
Total commercial loans | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	95,033	90,067
Total commercial loans | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	62,552	88,126
Total commercial loans | Substandard Non-accrual
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	3,689	11,818
Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	1,835,994	1,974,154
Commercial | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	1,462,755	1,668,495
Commercial | Watch
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	296,416	201,758
Commercial | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	46,488	46,540
Commercial | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	27,733	51,187
Commercial | Substandard Non-accrual
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	2,602	6,174
Commercial real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	3,337,337	3,261,873
Commercial real estate | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	2,827,030	2,851,709
Commercial real estate | Watch
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	431,427	326,455
Commercial real estate | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	48,545	43,526
Commercial real estate | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	29,492	34,539
Commercial real estate | Substandard Non-accrual
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	843	5,644
Real estate construction
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	461,717	530,469
Real estate construction | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	448,011	502,904
Real estate construction | Watch
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	8,135	25,164
Real estate construction | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	0	1
Real estate construction | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	5,327	2,400
Real estate construction | Substandard Non-accrual
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	244	0
Total retail loans
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	2,015,986	1,959,206
Total retail loans | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	1,998,271	1,941,570
Total retail loans | Watch
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	11,144	10,520
Total retail loans | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	1,024	1,338
Total retail loans | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	1,795	2,529
Total retail loans | Substandard Non-accrual
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	3,752	3,249
Retail real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	1,720,455	1,657,082
Retail real estate | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	1,702,897	1,639,599
Retail real estate | Watch
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	11,144	10,520
Retail real estate | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	1,024	1,338
Retail real estate | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	1,795	2,529
Retail real estate | Substandard Non-accrual
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	3,595	3,096
Retail other
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	295,531	302,124
Retail other | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	295,374	301,971
Retail other | Watch
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	0	0
Retail other | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	0	0
Retail other | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	0	0
Retail other | Substandard Non-accrual
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	$ 157	$ 153

PORTFOLIO LOANS - Schedule of_2

PORTFOLIO LOANS - Schedule of Risk Grades of Portfolio Loans, Further Sorted by Origination Year (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Financing Receivable, Credit Quality Indicator [Line Items]
2023 / 2022	$ 1,520,323	$ 2,288,440
2022 / 2021	1,785,798	1,926,481
2021 / 2020	1,552,072	962,405
2020 / 2019	705,335	558,294
2019 / 2018	468,659	323,245
Prior	660,624	644,140
Revolving Loans	958,223	1,022,697
Total	7,651,034	7,725,702
2023 / 2022	289
2022 / 2021	76
2021 / 2020	592
2020 / 2019	34
2019 / 2018	391
Prior	3,036
Revolving Loans	0
Total	4,418
Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Total	6,736,067	6,964,678
Watch
Financing Receivable, Credit Quality Indicator [Line Items]
Total	747,122	563,897
Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Total	96,057	91,405
Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total	64,347	90,655
Substandard Non-accrual
Financing Receivable, Credit Quality Indicator [Line Items]
Total	7,441	15,067
Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
2023 / 2022	394,854	544,993
2022 / 2021	295,539	320,898
2021 / 2020	184,527	142,171
2020 / 2019	96,530	67,027
2019 / 2018	47,510	55,404
Prior	169,911	159,475
Revolving Loans	647,123	684,186
Total	1,835,994	1,974,154
2023 / 2022	284
2022 / 2021	0
2021 / 2020	420
2020 / 2019	0
2019 / 2018	316
Prior	1,409
Revolving Loans	0
Total	2,429
Commercial | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2023 / 2022	306,578	479,893
2022 / 2021	220,847	266,122
2021 / 2020	159,130	136,445
2020 / 2019	71,025	52,046
2019 / 2018	35,927	50,764
Prior	143,078	135,000
Revolving Loans	526,170	548,225
Total	1,462,755	1,668,495
Commercial | Watch
Financing Receivable, Credit Quality Indicator [Line Items]
2023 / 2022	78,603	54,195
2022 / 2021	65,703	49,382
2021 / 2020	21,421	3,288
2020 / 2019	23,919	7,201
2019 / 2018	7,035	1,258
Prior	21,293	2,160
Revolving Loans	78,442	84,274
Total	296,416	201,758
Commercial | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2023 / 2022	792	1,958
2022 / 2021	8,224	937
2021 / 2020	2,917	1,642
2020 / 2019	1,076	974
2019 / 2018	686	1,000
Prior	3,274	17,024
Revolving Loans	29,519	23,005
Total	46,488	46,540
Commercial | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2023 / 2022	8,715	8,926
2022 / 2021	765	1,165
2021 / 2020	942	570
2020 / 2019	426	6,671
2019 / 2018	3,734	2,382
Prior	1,859	5,191
Revolving Loans	11,292	26,282
Total	27,733	51,187
Commercial | Substandard Non-accrual
Financing Receivable, Credit Quality Indicator [Line Items]
2023 / 2022	166	21
2022 / 2021	0	3,292
2021 / 2020	117	226
2020 / 2019	84	135
2019 / 2018	128	0
Prior	407	100
Revolving Loans	1,700	2,400
Total	2,602	6,174
Commercial real estate
Financing Receivable, Credit Quality Indicator [Line Items]
2023 / 2022	578,595	978,317
2022 / 2021	882,350	898,122
2021 / 2020	844,293	558,607
2020 / 2019	441,134	397,516
2019 / 2018	344,373	201,813
Prior	226,537	209,715
Revolving Loans	20,055	17,783
Total	3,337,337	3,261,873
2023 / 2022	0
2022 / 2021	0
2021 / 2020	0
2020 / 2019	0
2019 / 2018	0
Prior	953
Revolving Loans	0
Total	953
Commercial real estate | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2023 / 2022	395,644	883,688
2022 / 2021	824,506	819,133
2021 / 2020	720,052	478,452
2020 / 2019	399,195	297,525
2019 / 2018	271,078	161,409
Prior	199,662	198,419
Revolving Loans	16,893	13,083
Total	2,827,030	2,851,709
Commercial real estate | Watch
Financing Receivable, Credit Quality Indicator [Line Items]
2023 / 2022	166,795	77,346
2022 / 2021	47,070	56,113
2021 / 2020	92,848	64,282
2020 / 2019	34,010	96,664
2019 / 2018	68,196	21,592
Prior	19,396	5,758
Revolving Loans	3,112	4,700
Total	431,427	326,455
Commercial real estate | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2023 / 2022	14,313	11,943
2022 / 2021	10,507	5,389
2021 / 2020	12,446	12,386
2020 / 2019	4,968	1,420
2019 / 2018	3,297	6,917
Prior	3,014	5,471
Revolving Loans	0	0
Total	48,545	43,526
Commercial real estate | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2023 / 2022	1,796	5,340
2022 / 2021	188	13,528
2021 / 2020	18,862	3,454
2020 / 2019	2,938	1,907
2019 / 2018	1,802	10,248
Prior	3,856	62
Revolving Loans	50	0
Total	29,492	34,539
Commercial real estate | Substandard Non-accrual
Financing Receivable, Credit Quality Indicator [Line Items]
2023 / 2022	47	0
2022 / 2021	79	3,959
2021 / 2020	85	33
2020 / 2019	23	0
2019 / 2018	0	1,647
Prior	609	5
Revolving Loans	0	0
Total	843	5,644
Real estate construction
Financing Receivable, Credit Quality Indicator [Line Items]
2023 / 2022	213,138	230,042
2022 / 2021	132,868	203,743
2021 / 2020	85,593	71,184
2020 / 2019	2,938	1,539
2019 / 2018	1,364	1,901
Prior	3,178	3,149
Revolving Loans	22,638	18,911
Total	461,717	530,469
2023 / 2022	0
2022 / 2021	0
2021 / 2020	0
2020 / 2019	0
2019 / 2018	0
Prior	0
Revolving Loans	0
Total	0
Real estate construction | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2023 / 2022	204,952	219,112
2022 / 2021	128,462	191,724
2021 / 2020	85,086	68,015
2020 / 2019	2,616	1,490
2019 / 2018	1,323	1,901
Prior	2,934	1,751
Revolving Loans	22,638	18,911
Total	448,011	502,904
Real estate construction | Watch
Financing Receivable, Credit Quality Indicator [Line Items]
2023 / 2022	2,859	8,530
2022 / 2021	4,406	12,019
2021 / 2020	507	3,169
2020 / 2019	322	48
2019 / 2018	41	0
Prior	0	1,398
Revolving Loans	0	0
Total	8,135	25,164
Real estate construction | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2023 / 2022		0
2022 / 2021		0
2021 / 2020		0
2020 / 2019		1
2019 / 2018		0
Prior		0
Revolving Loans		0
Total	0	1
Real estate construction | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2023 / 2022	5,327	2,400
2022 / 2021	0	0
2021 / 2020	0	0
2020 / 2019	0	0
2019 / 2018	0	0
Prior	0	0
Revolving Loans	0	0
Total	5,327	2,400
Real estate construction | Substandard Non-accrual
Financing Receivable, Credit Quality Indicator [Line Items]
2023 / 2022	0
2022 / 2021	0
2021 / 2020	0
2020 / 2019	0
2019 / 2018	0
Prior	244
Revolving Loans	0
Total	244	0
Retail real estate
Financing Receivable, Credit Quality Indicator [Line Items]
2023 / 2022	244,851	400,507
2022 / 2021	382,017	460,072
2021 / 2020	414,578	177,299
2020 / 2019	158,032	79,126
2019 / 2018	70,815	58,481
Prior	260,142	270,808
Revolving Loans	190,020	210,789
Total	1,720,455	1,657,082
2023 / 2022	0
2022 / 2021	5
2021 / 2020	0
2020 / 2019	29
2019 / 2018	72
Prior	301
Revolving Loans	0
Total	407
Retail real estate | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2023 / 2022	243,400	396,547
2022 / 2021	376,922	456,158
2021 / 2020	411,723	175,148
2020 / 2019	156,762	77,569
2019 / 2018	70,099	56,887
Prior	256,571	267,387
Revolving Loans	187,420	209,903
Total	1,702,897	1,639,599
Retail real estate | Watch
Financing Receivable, Credit Quality Indicator [Line Items]
2023 / 2022	1,096	2,928
2022 / 2021	4,137	2,991
2021 / 2020	2,442	1,846
2020 / 2019	954	1,444
2019 / 2018	536	1,063
Prior	234	27
Revolving Loans	1,745	221
Total	11,144	10,520
Retail real estate | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2023 / 2022	286	945
2022 / 2021	358	0
2021 / 2020	0	0
2020 / 2019	0	0
2019 / 2018	0	0
Prior	380	393
Revolving Loans	0	0
Total	1,024	1,338
Retail real estate | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2023 / 2022	69	77
2022 / 2021	72	732
2021 / 2020	292	198
2020 / 2019	49	81
2019 / 2018	80	141
Prior	997	1,293
Revolving Loans	236	7
Total	1,795	2,529
Retail real estate | Substandard Non-accrual
Financing Receivable, Credit Quality Indicator [Line Items]
2023 / 2022	0	10
2022 / 2021	528	191
2021 / 2020	121	107
2020 / 2019	267	32
2019 / 2018	100	390
Prior	1,960	1,708
Revolving Loans	619	658
Total	3,595	3,096
Retail other
Financing Receivable, Credit Quality Indicator [Line Items]
2023 / 2022	88,885	134,581
2022 / 2021	93,024	43,646
2021 / 2020	23,081	13,144
2020 / 2019	6,701	13,086
2019 / 2018	4,597	5,646
Prior	856	993
Revolving Loans	78,387	91,028
Total	295,531	302,124
2023 / 2022	5
2022 / 2021	71
2021 / 2020	172
2020 / 2019	5
2019 / 2018	3
Prior	373
Revolving Loans	0
Total	629
Retail other | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2023 / 2022	88,885	134,567
2022 / 2021	92,931	43,512
2021 / 2020	23,019	13,141
2020 / 2019	6,701	13,086
2019 / 2018	4,597	5,646
Prior	854	991
Revolving Loans	78,387	91,028
Total	295,374	301,971
Retail other | Watch
Financing Receivable, Credit Quality Indicator [Line Items]
Total	0	0
Retail other | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Total	0	0
Retail other | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total	0	0
Retail other | Substandard Non-accrual
Financing Receivable, Credit Quality Indicator [Line Items]
2023 / 2022	0	14
2022 / 2021	93	134
2021 / 2020	62	3
2020 / 2019	0	0
2019 / 2018	0	0
Prior	2	2
Revolving Loans	0	0
Total	$ 157	$ 153

PORTFOLIO LOANS -Schedule of Po

PORTFOLIO LOANS -Schedule of Portfolio Loans that are Past Due and Still Accruing or on a Non-accrual Status (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Financing Receivable, Past Due [Line Items]
Commercial loans	$ 7,651,034	$ 7,725,702
90 days past due and still accruing	375	673
Non-accrual Loans	7,441	15,067
30 to 59 days past due and still accruing
Financing Receivable, Past Due [Line Items]
Commercial loans	4,443	5,249
60 to 89 days past due and still accruing
Financing Receivable, Past Due [Line Items]
Commercial loans	1,336	1,299
Commercial
Financing Receivable, Past Due [Line Items]
Commercial loans	1,835,994	1,974,154
90 days past due and still accruing	0	0
Non-accrual Loans	2,602	6,174
Commercial | 30 to 59 days past due and still accruing
Financing Receivable, Past Due [Line Items]
Commercial loans	0	2
Commercial | 60 to 89 days past due and still accruing
Financing Receivable, Past Due [Line Items]
Commercial loans	214	0
Commercial real estate
Financing Receivable, Past Due [Line Items]
Commercial loans	3,337,337	3,261,873
90 days past due and still accruing	0	0
Non-accrual Loans	843	5,644
Commercial real estate | 30 to 59 days past due and still accruing
Financing Receivable, Past Due [Line Items]
Commercial loans	752	124
Commercial real estate | 60 to 89 days past due and still accruing
Financing Receivable, Past Due [Line Items]
Commercial loans	0	0
Real estate construction
Financing Receivable, Past Due [Line Items]
Commercial loans	461,717	530,469
90 days past due and still accruing	0
Non-accrual Loans	244
Real estate construction | 30 to 59 days past due and still accruing
Financing Receivable, Past Due [Line Items]
Commercial loans	24
Real estate construction | 60 to 89 days past due and still accruing
Financing Receivable, Past Due [Line Items]
Commercial loans	0
Total commercial loans
Financing Receivable, Past Due [Line Items]
Commercial loans	5,635,048	5,766,496
90 days past due and still accruing	0	0
Non-accrual Loans	3,689	11,818
Total commercial loans | 30 to 59 days past due and still accruing
Financing Receivable, Past Due [Line Items]
Commercial loans	776	126
Total commercial loans | 60 to 89 days past due and still accruing
Financing Receivable, Past Due [Line Items]
Commercial loans	214	0
Retail real estate
Financing Receivable, Past Due [Line Items]
Commercial loans	1,720,455	1,657,082
90 days past due and still accruing	366	673
Non-accrual Loans	3,595	3,096
Retail real estate | 30 to 59 days past due and still accruing
Financing Receivable, Past Due [Line Items]
Commercial loans	2,781	4,709
Retail real estate | 60 to 89 days past due and still accruing
Financing Receivable, Past Due [Line Items]
Commercial loans	927	1,239
Retail other
Financing Receivable, Past Due [Line Items]
Commercial loans	295,531	302,124
90 days past due and still accruing	9	0
Non-accrual Loans	157	153
Retail other | 30 to 59 days past due and still accruing
Financing Receivable, Past Due [Line Items]
Commercial loans	886	414
Retail other | 60 to 89 days past due and still accruing
Financing Receivable, Past Due [Line Items]
Commercial loans	195	60
Total retail loans
Financing Receivable, Past Due [Line Items]
Commercial loans	2,015,986	1,959,206
90 days past due and still accruing	375	673
Non-accrual Loans	3,752	3,249
Total retail loans | 30 to 59 days past due and still accruing
Financing Receivable, Past Due [Line Items]
Commercial loans	3,667	5,123
Total retail loans | 60 to 89 days past due and still accruing
Financing Receivable, Past Due [Line Items]
Commercial loans	$ 1,122	$ 1,299

PORTFOLIO LOANS - Disaggregated

PORTFOLIO LOANS - Disaggregated by Class of Financing Receivable and Type of Concession Granted (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Contractual Interest Rate Reduction
Financing Receivable, Modified [Line Items]
Financing receivable, excluding accrued interest, modified in period, amount	$ 872
Percentages of total class of financing receivable	0%
Extended Maturity
Financing Receivable, Modified [Line Items]
Financing receivable, excluding accrued interest, modified in period, amount	$ 22,836
Percentages of total class of financing receivable	0.30%
Commercial | Contractual Interest Rate Reduction
Financing Receivable, Modified [Line Items]
Financing receivable, excluding accrued interest, modified in period, amount	$ 0
Percentages of total class of financing receivable	0%
Commercial | Extended Maturity
Financing Receivable, Modified [Line Items]
Financing receivable, excluding accrued interest, modified in period, amount	$ 16,586
Percentages of total class of financing receivable	0.90%
Commercial real estate | Contractual Interest Rate Reduction
Financing Receivable, Modified [Line Items]
Financing receivable, excluding accrued interest, modified in period, amount	$ 872
Percentages of total class of financing receivable	0%
Commercial real estate | Extended Maturity
Financing Receivable, Modified [Line Items]
Financing receivable, excluding accrued interest, modified in period, amount	$ 923
Percentages of total class of financing receivable	0%
Real estate construction | Contractual Interest Rate Reduction
Financing Receivable, Modified [Line Items]
Financing receivable, excluding accrued interest, modified in period, amount	$ 0
Percentages of total class of financing receivable	0%
Real estate construction | Extended Maturity
Financing Receivable, Modified [Line Items]
Financing receivable, excluding accrued interest, modified in period, amount	$ 5,327
Percentages of total class of financing receivable	1.20%

PORTFOLIO LOANS - Schedule of t

PORTFOLIO LOANS - Schedule of the Effects of Loan Modifications (Details)	12 Months Ended
	Dec. 31, 2023
Financing Receivable, Modified [Line Items]
Weighted Average Interest Rate Reduction	2.50%
Weighted Average Term Extension	16 months 24 days
Commercial
Financing Receivable, Modified [Line Items]
Weighted Average Term Extension	18 months 3 days
Commercial real estate
Financing Receivable, Modified [Line Items]
Weighted Average Interest Rate Reduction	2.50%
Weighted Average Term Extension	21 months
Real estate construction
Financing Receivable, Modified [Line Items]
Weighted Average Term Extension	12 months

PORTFOLIO LOANS - Schedule of A

PORTFOLIO LOANS - Schedule of Amortized Cost Basis of Financing Receivables (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Financing Receivable, Modified, Subsequent Default [Line Items]
Amortized cost of modified loans with subsequent defaults	$ 0	$ 0	$ 0
Commercial | Extended Maturity
Financing Receivable, Modified, Subsequent Default [Line Items]
Amortized cost of modified loans with subsequent defaults	$ 88,000

PORTFOLIO LOANS - Schedule of L

PORTFOLIO LOANS - Schedule of Loan Modifications made to Borrowers Experiencing Financial Difficulty (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Financing Receivable, Modified [Line Items]
Non-accrual	$ 88
Financial Asset, Not Past Due
Financing Receivable, Modified [Line Items]
Current	23,620
Commercial
Financing Receivable, Modified [Line Items]
Non-accrual	88
Commercial | Financial Asset, Not Past Due
Financing Receivable, Modified [Line Items]
Current	16,498
Commercial real estate
Financing Receivable, Modified [Line Items]
Non-accrual	0
Commercial real estate | Financial Asset, Not Past Due
Financing Receivable, Modified [Line Items]
Current	1,795
Real estate construction
Financing Receivable, Modified [Line Items]
Non-accrual	0
Real estate construction | Financial Asset, Not Past Due
Financing Receivable, Modified [Line Items]
Current	$ 5,327

PORTFOLIO LOANS - Schedule of_3

PORTFOLIO LOANS - Schedule of TDR Loans (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Financing Receivable, Past Due [Line Items]
Total TDRs	$ 3,569
In compliance with modified terms
Financing Receivable, Past Due [Line Items]
Total TDRs	3,032
Non-performing TDRs
Financing Receivable, Past Due [Line Items]
Total TDRs	$ 537

PORTFOLIO LOANS - Schedule of_4

PORTFOLIO LOANS - Schedule of TDRs (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) contract	Dec. 31, 2021 USD ($) contract
Financing Receivable, Impaired [Line Items]
Number of Contracts | contract	4	1
Rate Modification
Financing Receivable, Impaired [Line Items]
Recorded investment	$ 136	$ 364
Payment Modification
Financing Receivable, Impaired [Line Items]
Recorded investment	$ 1,513	$ 0
Commercial
Financing Receivable, Impaired [Line Items]
Number of Contracts | contract	3	1
Commercial | Rate Modification
Financing Receivable, Impaired [Line Items]
Recorded investment	$ 136	$ 364
Commercial | Payment Modification
Financing Receivable, Impaired [Line Items]
Recorded investment	$ 996	$ 0
Retail real estate
Financing Receivable, Impaired [Line Items]
Number of Contracts | contract	1
Retail real estate | Rate Modification
Financing Receivable, Impaired [Line Items]
Recorded investment	$ 0
Retail real estate | Payment Modification
Financing Receivable, Impaired [Line Items]
Recorded investment	$ 517

PORTFOLIO LOANS - Schedule of_5

PORTFOLIO LOANS - Schedule of Details of Impaired Loans, Segregated by Category (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Financing Receivable, Troubled Debt Restructuring [Line Items]
Unpaid Principal Balance	$ 10,096	$ 20,608
Recorded investment with no allowance	1,256	5,801
Recorded investment with allowance	1,895	9,846
Total recorded investment	3,151	15,647
Related Allowance	895	4,501
Average Recorded Investment	9,948	14,551
Total commercial loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Unpaid Principal Balance	9,883	17,875
Recorded investment with no allowance	1,195	3,237
Recorded investment with allowance	1,870	9,821
Total recorded investment	3,065	13,058
Related Allowance	870	4,476
Average Recorded Investment	9,158	12,240
Commercial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Unpaid Principal Balance	7,283	9,589
Recorded investment with no allowance	585	656
Recorded investment with allowance	1,785	5,918
Total recorded investment	2,370	6,574
Related Allowance	785	2,476
Average Recorded Investment	5,244	6,761
Commercial real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Unpaid Principal Balance	2,600	8,039
Recorded investment with no allowance	610	2,334
Recorded investment with allowance	85	3,903
Total recorded investment	695	6,237
Related Allowance	85	2,000
Average Recorded Investment	3,865	5,219
Real estate construction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Unpaid Principal Balance	0	247
Recorded investment with no allowance	0	247
Recorded investment with allowance	0	0
Total recorded investment	0	247
Related Allowance	0	0
Average Recorded Investment	49	260
Retail loans evaluated individually
Financing Receivable, Troubled Debt Restructuring [Line Items]
Unpaid Principal Balance	213	2,733
Recorded investment with no allowance	61	2,564
Recorded investment with allowance	25	25
Total recorded investment	86	2,589
Related Allowance	25	25
Average Recorded Investment	790	2,311
Retail real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Unpaid Principal Balance	213	2,733
Recorded investment with no allowance	61	2,564
Recorded investment with allowance	25	25
Total recorded investment	86	2,589
Related Allowance	25	25
Average Recorded Investment	$ 790	$ 2,311

PORTFOLIO LOANS - Schedule of_6

PORTFOLIO LOANS - Schedule of Activity on the Allowance for Loan Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Activity in the allowance for loan losses
ACL beginning balance	$ 91,608	$ 87,887	$ 101,048
Day 1 PCD			4,178
Provision for credit losses	2,399	4,623	(15,101)
Charged-off	(4,418)	(3,179)	(4,783)
Recoveries	2,151	2,277	2,545
ACL ending balance	91,740	91,608	87,887
Commercial
Activity in the allowance for loan losses
ACL beginning balance	23,860	23,855	23,866
Day 1 PCD			3,546
Provision for credit losses	(727)	497	(2,160)
Charged-off	(2,429)	(1,069)	(2,026)
Recoveries	552	577	629
ACL ending balance	21,256	23,860	23,855
Commercial real estate
Activity in the allowance for loan losses
ACL beginning balance	38,299	38,249	46,230
Day 1 PCD			336
Provision for credit losses	(2,455)	892	(7,651)
Charged-off	(953)	(1,375)	(925)
Recoveries	574	533	259
ACL ending balance	35,465	38,299	38,249
Real estate construction
Activity in the allowance for loan losses
ACL beginning balance	6,457	5,102	8,193
Day 1 PCD			0
Provision for credit losses	(1,465)	1,142	(3,180)
Charged-off	0	(23)	(209)
Recoveries	171	236	298
ACL ending balance	5,163	6,457	5,102
Retail real estate
Activity in the allowance for loan losses
ACL beginning balance	18,193	17,589	21,992
Day 1 PCD			129
Provision for credit losses	7,922	219	(4,456)
Charged-off	(407)	(251)	(1,145)
Recoveries	590	636	1,069
ACL ending balance	26,298	18,193	17,589
Retail other
Activity in the allowance for loan losses
ACL beginning balance	4,799	3,092	767
Day 1 PCD			167
Provision for credit losses	(876)	1,873	2,346
Charged-off	(629)	(461)	(478)
Recoveries	264	295	290
ACL ending balance	$ 3,558	$ 4,799	$ 3,092

PORTFOLIO LOANS - Schedule of_7

PORTFOLIO LOANS - Schedule of Allowance for Loan Losses and Recorded Investments in Portfolio Loans, by Category (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Portfolio Loans
Collectively Evaluated for Impairment	$ 7,647,883	$ 7,710,055
Individually Evaluated for Impairment	3,151	15,647
Total	7,651,034	7,725,702
ACL Attributed to Portfolio Loans
Collectively Evaluated for Impairment	90,845	87,107
Individually Evaluated for Impairment	895	4,501
Total	91,740	91,608	$ 87,887	$ 101,048
Commercial
Portfolio Loans
Collectively Evaluated for Impairment	1,833,624	1,967,580
Individually Evaluated for Impairment	2,370	6,574
Total	1,835,994	1,974,154
ACL Attributed to Portfolio Loans
Collectively Evaluated for Impairment	20,471	21,384
Individually Evaluated for Impairment	785	2,476
Total	21,256	23,860	23,855	23,866
Commercial real estate
Portfolio Loans
Collectively Evaluated for Impairment	3,336,642	3,255,636
Individually Evaluated for Impairment	695	6,237
Total	3,337,337	3,261,873
ACL Attributed to Portfolio Loans
Collectively Evaluated for Impairment	35,380	36,299
Individually Evaluated for Impairment	85	2,000
Total	35,465	38,299	38,249	46,230
Real estate construction
Portfolio Loans
Collectively Evaluated for Impairment	461,717	530,222
Individually Evaluated for Impairment	0	247
Total	461,717	530,469
ACL Attributed to Portfolio Loans
Collectively Evaluated for Impairment	5,163	6,457
Individually Evaluated for Impairment	0	0
Total	5,163	6,457	5,102	8,193
Total commercial loans
Portfolio Loans
Collectively Evaluated for Impairment	5,631,983	5,753,438
Individually Evaluated for Impairment	3,065	13,058
Total	5,635,048	5,766,496
ACL Attributed to Portfolio Loans
Collectively Evaluated for Impairment	61,014	64,140
Individually Evaluated for Impairment	870	4,476
Total	61,884	68,616
Retail real estate
Portfolio Loans
Collectively Evaluated for Impairment	1,720,369	1,654,493
Individually Evaluated for Impairment	86	2,589
Total	1,720,455	1,657,082
ACL Attributed to Portfolio Loans
Collectively Evaluated for Impairment	26,273	18,168
Individually Evaluated for Impairment	25	25
Total	26,298	18,193	17,589	21,992
Retail other
Portfolio Loans
Collectively Evaluated for Impairment	295,531	302,124
Individually Evaluated for Impairment	0	0
Total	295,531	302,124
ACL Attributed to Portfolio Loans
Collectively Evaluated for Impairment	3,558	4,799
Individually Evaluated for Impairment	0	0
Total	3,558	4,799	$ 3,092	$ 767
Retail loans and related ACL
Portfolio Loans
Collectively Evaluated for Impairment	2,015,900	1,956,617
Individually Evaluated for Impairment	86	2,589
Total	2,015,986	1,959,206
ACL Attributed to Portfolio Loans
Collectively Evaluated for Impairment	29,831	22,967
Individually Evaluated for Impairment	25	25
Total	$ 29,856	$ 22,992

OTHER REAL ESTATE OWNED AND O_3

OTHER REAL ESTATE OWNED AND OTHER REPOSSESSED ASSETS - Schedule of OREO and Other Repossessed Assets Balances (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
OREO
Total OREO	$ 125	$ 70
Other repossessed assets	0	780
OREO and other repossessed assets	125	850	$ 4,416	$ 4,571
Residential
OREO
Total OREO	$ 125	$ 70

OTHER REAL ESTATE OWNED AND O_4

OTHER REAL ESTATE OWNED AND OTHER REPOSSESSED ASSETS - Schedule of Activity Related to OREO and Other Repossessed Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Other Real Estate [Roll Forward]
OREO and other repossessed assets at January 1	$ 850	$ 4,416	$ 4,571
Additions, transfers from loans	189	175	1,610
Sales	(770)	(2,565)	(1,721)
Cash payments collected	(44)	(565)	(43)
Impairment of OREO and other repossessed assets	(100)	(611)	(1)
OREO and other repossessed assets at December 31	$ 125	$ 850	$ 4,416

OTHER REAL ESTATE OWNED AND O_5

OTHER REAL ESTATE OWNED AND OTHER REPOSSESSED ASSETS - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Residential
Real Estate Properties [Line Items]
Residential real estate in the process of foreclosure	$ 0.3	$ 1.1

OTHER REAL ESTATE OWNED AND O_6

OTHER REAL ESTATE OWNED AND OTHER REPOSSESSED ASSETS - Schedule of Expenses Related to OREO and Other Repossessed Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Other Real Estate, Foreclosed Assets, and Repossessed Assets [Abstract]
Net loss (gain) on sales	$ 54	$ 665	$ 173
Operating expenses, net of income	67	248	468
Activity for OREO and other repossessed assets	$ 121	$ 913	$ 641

PREMISES AND EQUIPMENT - Schedu

PREMISES AND EQUIPMENT - Schedule of premises and equipment, net (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Premises and equipment
Premises and equipment, gross	$ 222,475	$ 225,853
Accumulated depreciation	99,881	99,329
Premises and equipment, net	122,594	126,524
Land and improvements
Premises and equipment
Premises and equipment, gross	43,076	44,193
Buildings and improvements
Premises and equipment
Premises and equipment, gross	128,322	128,669
Furniture and equipment
Premises and equipment
Premises and equipment, gross	$ 51,077	$ 52,991

PREMISES AND EQUIPMENT - Sche_2

PREMISES AND EQUIPMENT - Schedule of depreciation expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 9,488	$ 10,482	$ 11,610

LEASES - Schedule of Lease-Rela

LEASES - Schedule of Lease-Related Balances (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Lease balances
Right of use assets	$ 11,027	$ 12,829
Lease liabilities	$ 11,308	$ 12,995
Supplemental information
Weighted average remaining lease term	8 years 4 months 20 days	8 years 10 months 24 days
Weighted average discount rate	3.59%	3.45%

LEASES - Schedule of Lease Cost

LEASES - Schedule of Lease Cost and Other Lease Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Lease costs
Operating lease costs	$ 2,395	$ 2,495	$ 2,464
Variable lease costs	38	365	540
Short-term lease costs	50	22	49
Total lease cost	2,483	2,882	3,053
Cash flows related to leases
Operating lease cash flows – Fixed payments	2,290	3,080	2,417
Operating lease cash flows – Liability reduction	1,883	2,285	2,217
Right of use assets obtained during the period in exchange for operating lease liabilities	$ 231	$ 6,206	5,818
CAC
Cash flows related to leases
Right of use assets obtained during the period in exchange for operating lease liabilities			$ 400

LEASES - Schedule of Future Und

LEASES - Schedule of Future Undiscounted Lease Payments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Rent commitments
2024	$ 2,023
2025	1,768
2026	1,443
2027	1,277
2028	1,255
Thereafter	5,478
Total undiscounted cash flows	13,244
Less: Amounts representing interest	1,936
Present value of net future minimum lease payments	$ 11,308	$ 12,995

LEASES - Schedule of Busey as t

LEASES - Schedule of Busey as the Lessor (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Rental income	$ 724	$ 707	$ 566

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS - Narrative (Details)	12 Months Ended
	Dec. 31, 2023 USD ($) segment	Dec. 31, 2022 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Number of operating segments | segment	3
Goodwill, change in period | $	$ 0	$ 0

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLE ASSETS - Schedule of Carrying Amount of Goodwill by Operating Segment (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Goodwill and other intangibles assets
Total goodwill	$ 317,873	$ 317,873
Banking
Goodwill and other intangibles assets
Total goodwill	294,773	294,773
Wealth Management
Goodwill and other intangibles assets
Total goodwill	14,108	14,108
FirsTech
Goodwill and other intangibles assets
Total goodwill	$ 8,992	$ 8,992

GOODWILL AND OTHER INTANGIBLE_5

GOODWILL AND OTHER INTANGIBLE ASSETS - Schedule of Other Intangible Asset Disclosures (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Goodwill and other intangibles assets
Intangible assets, gross	$ 132,203	$ 132,203
Accumulated amortization	96,212	85,780
Total estimated amortization expense	35,991	46,423
Core deposit intangible
Goodwill and other intangibles assets
Intangible assets, gross	99,065	99,065
Accumulated amortization	71,092	63,476
Total estimated amortization expense	27,973	35,589
Customer relationship intangible
Goodwill and other intangibles assets
Intangible assets, gross	33,138	33,138
Accumulated amortization	25,120	22,304
Total estimated amortization expense	$ 8,018	$ 10,834

GOODWILL AND OTHER INTANGIBLE_6

GOODWILL AND OTHER INTANGIBLE ASSETS - Schedule of Amortization Expense Relating to Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Goodwill and other intangibles assets
Amortization of intangible assets	$ 10,432	$ 11,628	$ 11,274
Core deposit intangible
Goodwill and other intangibles assets
Amortization of intangible assets	7,616	8,315	8,253
Customer relationship intangible
Goodwill and other intangibles assets
Amortization of intangible assets	$ 2,816	$ 3,313	$ 3,021

GOODWILL AND OTHER INTANGIBLE_7

GOODWILL AND OTHER INTANGIBLE ASSETS - Schedule of Estimated Amortization Expense (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Goodwill and other intangibles assets
2024	$ 9,220
2025	7,843
2026	6,706
2027	5,581
2028	4,443
Thereafter	2,198
Total estimated amortization expense	35,991	$ 46,423
Core deposit intangible
Goodwill and other intangibles assets
2024	6,902
2025	5,956
2026	5,227
2027	4,490
2028	3,740
Thereafter	1,658
Total estimated amortization expense	27,973	35,589
Customer relationship intangible
Goodwill and other intangibles assets
2024	2,318
2025	1,887
2026	1,479
2027	1,091
2028	703
Thereafter	540
Total estimated amortization expense	$ 8,018	$ 10,834

DEPOSITS - Schedule of Composit

DEPOSITS - Schedule of Composition of Deposits (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deposits [Abstract]
Noninterest-bearing demand deposits	$ 2,834,655	$ 3,393,666
Interest-bearing transaction deposits	2,717,139	2,857,818
Saving deposits and money market deposits	2,920,088	2,964,421
Time deposits	1,819,274	855,375
Total deposits	10,291,156	10,071,280
Brokered savings deposits and money market deposits	6,001	1,303
Brokered time deposits	285	275
Total time deposits with a minimum denomination of $100,000	1,072,189	416,445
Total time deposits with a minimum denomination that meets or exceeds the FDIC insurance limit of $250,000	$ 386,286	$ 120,377

DEPOSITS - Schedule of Maturiti

DEPOSITS - Schedule of Maturities of time Deposits (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deposits [Abstract]
2024	$ 1,705,846
2025	68,738
2026	21,222
2027	12,470
2028	10,451
Thereafter	547
Time deposits	$ 1,819,274	$ 855,375

BORROWINGS - Schedule of Securi

BORROWINGS - Schedule of Securities Sold Under Agreements to Repurchase (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
Securities sold under agreements to repurchase	$ 187,396	$ 229,806
Weighted average rate for securities sold under agreements to repurchase	3.26%	1.91%

BORROWINGS - Term Loan (Details

BORROWINGS - Term Loan (Details) - USD ($)	3 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Apr. 30, 2022	May 28, 2021
Borrowings
Total long-term debt	$ 18,000,000				$ 30,000,000
Revolving Credit Facility
Borrowings
Issuance of debt							$ 40,000,000
Term Loan
Borrowings
Issuance of debt							$ 60,000,000
Total long-term debt	18,000,000				$ 30,000,000
Second Amended and Restated Credit Agreement | Revolving Credit Facility
Borrowings
Balance outstanding	0
Second Amended and Restated Credit Agreement | Term Loan
Borrowings
Total long-term debt	30,000,000
Long-term debt, current	12,000,000
Long term debt, noncurrent	18,000,000
Quarterly payments on the term loan reduce the outstanding principal balance, amount	$ 3,000,000	$ 3,000,000	$ 3,000,000	$ 3,000,000
Second Amended and Restated Credit Agreement | One-month LIBOR rate
Borrowings
Interest rate							1.75%
Third Amendment To Extend Credit Facility | SOFR-indexed interest rate | Term Loan
Borrowings
Interest rate						1.80%

BORROWINGS - Schedule of Short-

BORROWINGS - Schedule of Short-Term borrowings (Details)	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($) note
Short-term borrowings
Total short-term debt	$ 12,000,000	$ 351,054,000
FHLB, weighted average interest rate	3.26%	1.91%
Debt weighted average maturity period		5 days
Federal funds purchased	$ 0	$ 0
FHLB advances maturing in less than one year from date of origination, and the current portion of long-term FHLB advances due within 12 months
Short-term borrowings
Total short-term debt	0	339,054,000
Term Loan, current portion due within 12 months
Short-term borrowings
Total short-term debt	$ 12,000,000	$ 12,000,000
Federal Home Loan Bank Certificates and Obligations (FHLB)
Short-term borrowings
Number of FHLB notes | note		4
FHLB, weighted average interest rate		4.28%
Minimum
Short-term borrowings
Short-term borrowings, mature period	1 day
Maximum
Short-term borrowings
Short-term borrowings, mature period	90 days

BORROWINGS - Schedule of Long-T

BORROWINGS - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Long-term debt
Total long-term debt	$ 18,000	$ 30,000
Term Loan
Long-term debt
Total long-term debt	$ 18,000	$ 30,000

BORROWINGS - Subordinate Notes

BORROWINGS - Subordinate Notes (Details) - Subordinated Debt - USD ($)	Jun. 02, 2022	Jun. 01, 2020
5.25% notes maturing June 1, 2030
Long-term debt
Issuance of debt		$ 125,000,000
Duration of fixed interest rate		5 years
Floating interest rate margin		5.11%
5.25% notes maturing June 1, 2030 | Base Rate
Long-term debt
Interest rate		5.25%
5.000% notes maturing June 15, 2032
Long-term debt
Issuance of debt	$ 100,000,000
Fixed to floating interest rate	5%
Percentage of principal amount of notes	100%
5.000% notes maturing June 15, 2032 | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Long-term debt
Floating interest rate margin	25,200%

BORROWINGS - Schedule of Unamor

BORROWINGS - Schedule of Unamortized Debt Issuance Cost (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Junior subordinated debt owed to unconsolidated trusts
Total unamortized debt issuance costs	$ 2,118	$ 2,962
Subordinated notes issued in 2020 | Subordinated Debt
Junior subordinated debt owed to unconsolidated trusts
Total unamortized debt issuance costs	735	1,220
Subordinated notes issued in 2022 | Subordinated Debt
Junior subordinated debt owed to unconsolidated trusts
Total unamortized debt issuance costs	$ 1,383	$ 1,742

JUNIOR SUBORDINATED DEBT OWED_2

JUNIOR SUBORDINATED DEBT OWED TO UNCOLSOLIDATED TRUSTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Junior subordinated debt owed to unconsolidated trusts
Fair value adjustment, remaining balance to be accreted	$ 2,600
Junior subordinated debt owed to unconsolidated trusts	71,993	$ 71,810
Trust Preferred Securities Subject to Mandatory Redemption
Junior subordinated debt owed to unconsolidated trusts
Maximum of holding companies assets retained	$ 15,000,000
Trust preferred securities qualified as Tier I capital (as a percent)	100%
Junior Subordinated Debt | Trust Preferred Securities Subject to Mandatory Redemption
Junior subordinated debt owed to unconsolidated trusts
Maximum period to defer payment of interest on the notes and, therefore, distributions on the trust preferred securities	5 years
Parent Company
Junior subordinated debt owed to unconsolidated trusts
Junior subordinated debt owed to unconsolidated trusts	$ 71,993	$ 71,810

REGULATORY CAPITAL - Capital Am

REGULATORY CAPITAL - Capital Amounts and Ratios (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Common Equity Tier 1 Capital to Risk Weighted Assets, Amount
Actual	$ 1,155,973	$ 1,081,686
Minimum Capital Requirement	397,331	406,980
Minimum To Be Well Capitalized	$ 573,923	$ 587,861
Common Equity Tier 1 Capital to Risk Weighted Assets, Ratio
Actual	13.09%	11.96%
Minimum Capital Requirement	4.50%	4.50%
Minimum To Be Well Capitalized	6.50%	6.50%
Tier 1 Capital to Risk Weighted Assets, Amount
Actual	$ 1,229,973	$ 1,155,686
Minimum Capital Requirement	529,775	542,640
Minimum To Be Well Capitalized	$ 706,367	$ 723,521
Tier 1 Capital to Risk Weighted Assets, Ratio
Actual	13.93%	12.78%
Minimum Capital Requirement	6%	6%
Minimum To Be Well Capitalized	8%	8%
Total Capital to Risk Weighted Assets, Amount
Actual	$ 1,540,318	$ 1,457,994
Minimum Capital Requirement	706,367	723,521
Minimum To Be Well Capitalized	$ 882,958	$ 904,401
Total Capital to Risk Weighted Assets, Ratio
Actual	17.44%	16.12%
Minimum Capital Requirement	8%	8%
Minimum To Be Well Capitalized	10%	10%
Leverage Ratio of Tier 1 Capital to Average Assets, Amount
Actual	$ 1,229,973	$ 1,155,686
Minimum Capital Requirement	$ 488,315	$ 489,124
Leverage Ratio of Tier 1 Capital to Average Assets, Ratio
Actual	10.08%	9.45%
Minimum Capital Requirement	4%	4%
Busey Bank
Common Equity Tier 1 Capital to Risk Weighted Assets, Amount
Actual	$ 1,362,962	$ 1,306,716
Minimum Capital Requirement	396,128	405,736
Minimum To Be Well Capitalized	$ 572,185	$ 586,063
Common Equity Tier 1 Capital to Risk Weighted Assets, Ratio
Actual	15.48%	14.49%
Minimum Capital Requirement	4.50%	4.50%
Minimum To Be Well Capitalized	6.50%	6.50%
Tier 1 Capital to Risk Weighted Assets, Amount
Actual	$ 1,362,962	$ 1,306,716
Minimum Capital Requirement	528,171	540,981
Minimum To Be Well Capitalized	$ 704,228	$ 721,308
Tier 1 Capital to Risk Weighted Assets, Ratio
Actual	15.48%	14.49%
Minimum Capital Requirement	6%	6%
Minimum To Be Well Capitalized	8%	8%
Total Capital to Risk Weighted Assets, Amount
Actual	$ 1,448,307	$ 1,384,024
Minimum Capital Requirement	704,228	721,308
Minimum To Be Well Capitalized	$ 880,285	$ 901,635
Total Capital to Risk Weighted Assets, Ratio
Actual	16.45%	15.35%
Minimum Capital Requirement	8%	8%
Minimum To Be Well Capitalized	10%	10%
Leverage Ratio of Tier 1 Capital to Average Assets, Amount
Actual	$ 1,362,962	$ 1,306,716
Minimum Capital Requirement	487,103	487,541
Minimum To Be Well Capitalized	$ 608,879	$ 609,426
Leverage Ratio of Tier 1 Capital to Average Assets, Ratio
Actual	11.19%	10.72%
Minimum Capital Requirement	4%	4%
Minimum To Be Well Capitalized	5%	5%

REGULATORY CAPITAL - Narrative

REGULATORY CAPITAL - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Banking and Thrift, Other Disclosure [Abstract]
Busey bank paid dividends to the company, amount received	$ 90	$ 95	$ 60

INCOME TAXES - Schedule of the

INCOME TAXES - Schedule of the Components of Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current expense:
Federal	$ 20,139	$ 20,815	$ 20,261
State	14,120	13,883	8,448
Deferred expense:
Federal	(1,557)	(700)	3,644
State	(1,363)	(572)	1,021
Income taxes	$ 31,339	$ 33,426	$ 33,374

INCOME TAXES - Schedule of th_2

INCOME TAXES - Schedule of the Reconciliation of Federal and State Income Taxes at Statutory rates to the Income Taxes Included in the Statements of Income (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income tax at federal statutory rate	21%	21%	21%
Tax-exempt interest, net	(1.00%)	(1.10%)	(1.10%)
Stock incentive	0.20%	0.10%	0%
State income taxes, net	6.50%	6.50%	4.50%
Income on bank owned life insurance	(0.60%)	(0.50%)	(0.70%)
Tax credit investments	(6.00%)	(5.60%)	(3.60%)
Other, net	0.30%	0.30%	1.20%
Effective income tax rate	20.40%	20.70%	21.30%

INCOME TAXES - Schedule of th_3

INCOME TAXES - Schedule of the Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets:
ACL	$ 27,068	$ 26,979
Unrealized loss on cash flow hedge	6,654	8,365
Unrealized losses on securities available for sale, net	70,423	88,666
Unrealized losses on securities held to maturity	10,156	11,919
Stock-based compensation	5,767	5,504
Deferred compensation	0	53
Purchase accounting adjustments	764	656
Accrued vacation	456	411
Lease liabilities	3,092	3,564
Employee costs	4,789	3,298
Unrealized loss on equity securities	75	0
Other	67	376
Total deferred tax assets	129,311	149,791
Deferred tax liabilities:
Basis in premises and equipment	(2,830)	(1,541)
Affordable housing partnerships and other investments	(8,341)	(6,669)
Purchase accounting adjustments	(1,133)	(1,207)
Mortgage servicing assets	(1,336)	(2,132)
Basis in core deposit, customer intangible assets, and asset purchase goodwill	(4,709)	(6,956)
Deferred loan origination costs	(3,691)	(3,845)
Right of use assets	(3,015)	(3,518)
Unrealized gain on equity securities	0	(512)
Other	(251)	(586)
Total deferred tax liabilities	(25,306)	(26,966)
Net deferred tax asset	$ 104,005	$ 122,825

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Valuation allowance, deferred tax assets	$ 0	$ 0

EMPLOYEE BENEFIT PLANS - Narrat

EMPLOYEE BENEFIT PLANS - Narrative (Details)	12 Months Ended
	Dec. 31, 2023
Employee Benefit Plans
Employer matching contribution, percent of match	100%
Employer matching contribution, percent of employees' gross pay	3%
Employer matching contribution, percent of next match	50%
Employer next matching contribution, percent of employees' gross pay	2%
Vesting period	5 years

EMPLOYEE BENEFIT PLANS - Schedu

EMPLOYEE BENEFIT PLANS - Schedule of expenses related to the employee benefit plans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
401(k) Plan expenses
Total 401(k) Plan expenses	$ 6,776	$ 7,054	$ 6,531
Safe Harbor match expenses
401(k) Plan expenses
Total 401(k) Plan expenses	3,745	4,094	3,708
Profit-sharing expenses
401(k) Plan expenses
Total 401(k) Plan expenses	$ 3,031	$ 2,960	$ 2,823

STOCK-BASED COMPENSATION - Sche

STOCK-BASED COMPENSATION - Schedule of Changes in, the Company's Stock Option Awards (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Shares
Outstanding at beginning of year (in shares)	26,106
Forfeited (in shares)	(4,840)
Outstanding at end of year (in shares)	21,266	26,106
Exercisable at end of year (in shares)	21,266
Weighted- Average Exercise Price
Outstanding at beginning of year (in dollars per share)	$ 23.53
Forfeited (in dollars per share)	23.53
Outstanding at end of year (in dollars per share)	23.53	$ 23.53
Exercisable at end of year (in dollars per share)	$ 23.53
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Additional Disclosures [Abstract]
Weighted-average remaining contractual life, options outstanding	2 years 10 months 17 days	3 years 10 months 17 days
Weighted-average remaining contractual life, exercisable at end of year	2 years 10 months 17 days
Intrinsic value, options outstanding	$ 27	$ 31
Intrinsic value, exercisable at end of year	$ 27

STOCK-BASED COMPENSATION - 2020

STOCK-BASED COMPENSATION - 2020 Equity Plan (Details) - USD ($) $ in Millions				12 Months Ended
	Apr. 14, 2023	Mar. 22, 2023	Mar. 23, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation
Period over which cost will be recognized				2 years 4 months 24 days	2 years 6 months
2020 Equity Incentive Plan
Share-based Compensation
Remaining shares available for issuance (in shares)				1,723,343
2020 Equity Plan
Share-based Compensation
Increase in the number of shares authorized for issuance (in shares)	1,350,000
Common Stock
Share-based Compensation
Net issuance of treasury stock for restricted/deferred stock unit vesting and related tax (in shares)				132,091	175,225	116,904
RSU awards
Share-based Compensation
Number of shares of common stock per award (in shares)				1
Granted (in shares)				224,316
RSU awards | 2020 Equity Incentive Plan | Management
Share-based Compensation
Granted (in shares)			224,316
Grant date fair value of the award			$ 4.6
Period over which cost will be recognized		1 year
Vesting percentage (as a percent)			100%
PSU awards
Share-based Compensation
Number of shares of common stock per award (in shares)				1
Granted (in shares)		15,045		224,331
Grant date fair value of the award		$ 0.3
Market Based Performance Stock Units
Share-based Compensation
Granted (in shares)		104,643
Grant date fair value of the award		$ 2
Performance Based Performance Stock Units
Share-based Compensation
Granted (in shares)		104,643
Grant date fair value of the award		$ 2.1
DSU awards
Share-based Compensation
Number of shares of common stock per award (in shares)				1
Granted (in shares)				41,548
Vesting period				1 year
Settlement period				30 days
DSU awards | 2020 Equity Incentive Plan | Directors and Advisory Directors
Share-based Compensation
Granted (in shares)		41,548
Grant date fair value of the award		$ 0.8
Period over which cost will be recognized		1 year
Vesting percentage (as a percent)		100%
Minimum | RSU awards
Share-based Compensation
Requisite service periods				1 year
Minimum | RSU awards | 2020 Equity Incentive Plan | Management
Share-based Compensation
Period over which cost will be recognized			1 year
Minimum | PSU awards
Share-based Compensation
Vesting percentage (as a percent)		0%
Minimum | Market Based Performance Stock Units
Share-based Compensation
Vesting percentage (as a percent)		0%
Minimum | Performance Based Performance Stock Units
Share-based Compensation
Vesting percentage (as a percent)		0%
Maximum | RSU awards
Share-based Compensation
Requisite service periods				5 years
Maximum | RSU awards | 2020 Equity Incentive Plan | Management
Share-based Compensation
Period over which cost will be recognized			5 years
Maximum | PSU awards
Share-based Compensation
Granted (in shares)		30,090
Vesting percentage (as a percent)		200%
Maximum | Market Based Performance Stock Units
Share-based Compensation
Granted (in shares)		167,429
Vesting percentage (as a percent)		160%
Maximum | Performance Based Performance Stock Units
Share-based Compensation
Granted (in shares)		167,429
Vesting percentage (as a percent)		160%

STOCK-BASED COMPENSATION - Sc_2

STOCK-BASED COMPENSATION - Schedule of changes in the Company's RSU, PSU, and DSU awards (Details) - $ / shares		12 Months Ended
	Mar. 22, 2023	Dec. 31, 2023
RSU awards
Shares
Non-vested at beginning of period (in shares)		1,096,931
Granted (in shares)		224,316
Dividend equivalents earned (in shares)		58,930
Vested (in shares)		(154,995)
Forfeited (in shares)		(183,738)
Non-vested at end of period (in shares)		1,041,444
Weighted-Average Grant Date Fair Value
Non-vested at beginning of period (in dollars per share)		$ 23.61
Granted (in dollars per share)		20.44
Dividend equivalents earned (in dollars per share)		20.16
Vested (in dollars per share)		29.71
Forfeited (in dollars per share)		22.33
Non-vested at end of period (in dollars per share)		$ 22.05
PSU awards
Shares
Non-vested at beginning of period (in shares)		285,351
Granted (in shares)	15,045	224,331
Dividend equivalents earned (in shares)		1,728
Vested (in shares)		(83,399)
Forfeited (in shares)		(88,923)
Adjustment for performance conditions (in shares)		2,612
Non-vested at end of period (in shares)		341,700
Vested and outstanding at end of period (in shares)		65,996
Weighted-Average Grant Date Fair Value
Non-vested at beginning of period (in dollars per share)		$ 25.40
Granted (in dollars per share)		20.04
Dividend equivalents earned (in dollars per share)		23.28
Vested (in dollars per share)		23.86
Forfeited (in dollars per share)		23.80
Adjustment for performance conditions (in dollars per share)		25.52
Non-vested at end of period (in dollars per share)		22.67
Vested and outstanding at end of period (in dollars per share)		$ 23.48
DSU awards
Shares
Non-vested at beginning of period (in shares)		31,085
Granted (in shares)		41,548
Dividend equivalents earned (in shares)		8,334
Vested (in shares)		(37,868)
Forfeited (in shares)		(73)
Non-vested at end of period (in shares)		43,026
Vested and outstanding at end of period (in shares)		144,137
Weighted-Average Grant Date Fair Value
Non-vested at beginning of period (in dollars per share)		$ 25.75
Granted (in dollars per share)		20.44
Dividend equivalents earned (in dollars per share)		20.09
Vested (in dollars per share)		24.76
Forfeited (in dollars per share)		20.44
Non-vested at end of period (in dollars per share)		20.41
Vested and outstanding at end of period (in dollars per share)		$ 23.52

STOCK-BASED COMPENSATION - 2021

STOCK-BASED COMPENSATION - 2021 Employee Stock Purchase Plan (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Jul. 01, 2021
Share-based Compensation
Compensation expense recognized	$ 6,595,000	$ 8,968,000	$ 7,864,000
Stock options
Share-based Compensation
Compensation expense recognized	0	$ 0	$ 0
Unrecognized stock-based compensation expense	$ 0
2021 ESPP
Share-based Compensation
Discount through voluntary payroll deductions (as percentage)	15%
Remaining shares available for issuance (in shares)	452,379			600,000

STOCK-BASED COMPENSATION - Sc_3

STOCK-BASED COMPENSATION - Schedule of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation
Total stock-based compensation expense	$ 6,595	$ 8,968	$ 7,864
RSU awards
Share-based Compensation
Total stock-based compensation expense	2,622	4,648	5,809
PSU awards
Share-based Compensation
Total stock-based compensation expense	2,962	3,240	979
DSU awards
Share-based Compensation
Total stock-based compensation expense	833	876	962
2021 ESPP
Share-based Compensation
Total stock-based compensation expense	$ 178	$ 204	$ 114

STOCK-BASED COMPENSATION - Sc_4

STOCK-BASED COMPENSATION - Schedule of Unamortized Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation
Total unamortized stock-based compensation	$ 10,639	$ 13,024
Weighted average period over which expense is to be recognized	2 years 4 months 24 days	2 years 6 months
RSU awards
Share-based Compensation
Total unamortized stock-based compensation	$ 6,842	$ 8,570
PSU awards
Share-based Compensation
Total unamortized stock-based compensation	3,607	4,279
DSU awards
Share-based Compensation
Total unamortized stock-based compensation	$ 190	$ 175

TRANSACTIONS WITH RELATED PAR_3

TRANSACTIONS WITH RELATED PARTIES (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Analysis of the changes in loans to related parties
Balance at beginning of year	$ 55,341
Change in relationship	9,247
New loans/advances	34,116
Repayments	(21,055)
Balance at end of year	77,649
Directors and executive officers
Analysis of the changes in loans to related parties
Total unused commitments	$ 4,692

OUTSTANDING COMMITMENTS AND C_3

OUTSTANDING COMMITMENTS AND CONTINGENT LIABILITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Credit Commitments and Contingencies
Total commitments	$ 2,176,496	$ 2,024,777
Commitments to extend credit
Credit Commitments and Contingencies
Total commitments	2,132,500	1,991,769
Standby letters of credit
Credit Commitments and Contingencies
Total commitments	$ 43,996	$ 33,008

DERIVATIVE FINANCIAL INSTRUME_3

DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of financial instruments owned and pledged as collateral (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Interest Rate Swap
Derivative Financial Instruments
Cash pledged to secure obligations	$ 34,210	$ 38,609
Interest Rate Contract
Derivative Financial Instruments
Cash pledged to secure obligations	$ 19,280	$ 29,830

DERIVATIVE FINANCIAL INSTRUME_4

DERIVATIVE FINANCIAL INSTRUMENTS - Narrative (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Interest Rate Swap | Designated as Hedging Instrument
Derivative Financial Instruments
Notional amount	$ 300,000,000
Interest Rate Swap | Not Designated as Hedging Instrument
Derivative Financial Instruments
Variable rate, commercial loans that are supported by the interest rate swap contracts	663,100,000	$ 576,900,000
Notional amount	663,136,000	576,911,000
Notional amount	663,136,000	576,911,000
Interest Rate Swap | Cash Flow Hedging
Derivative Financial Instruments
Notional amount	350,000,000	350,000,000
Debt Swap | Cash Flow Hedging
Derivative Financial Instruments
Notional amount	50,000,000	$ 50,000,000
Debt Swap | Cash Flow Hedging | Designated as Hedging Instrument
Derivative Financial Instruments
Notional amount	50,000,000
Foreign Exchange Forward | Not Designated as Hedging Instrument
Derivative Financial Instruments
Notional amount	0
Notional amount	$ 0

DERIVATIVE FINANCIAL INSTRUME_5

DERIVATIVE FINANCIAL INSTRUMENTS - Summary of the interest-rate swaps designated as cash flow hedges (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Interest Rate Swap
Balances carried in AOCI
Unrealized gains (losses) on cash flow hedges, net of tax	$ 0	$ 0	$ 0
Cash Flow Hedging | Interest Rate Swap
Derivative Financial Instruments
Notional amount	350,000	350,000
Balances carried in AOCI
Unrealized gains (losses) on cash flow hedges, net of tax	(16,694)	(20,985)
Cash Flow Hedging | Interest Rate Swap | Other assets
Gross aggregate fair value of the swaps
Gross aggregate fair value of swap assets	1,293	2,535
Cash Flow Hedging | Interest Rate Swap | Other liabilities
Gross aggregate fair value of the swaps
Gross aggregate fair value of swap liabilities	25,411	32,367
Cash Flow Hedging | Debt Swap
Derivative Financial Instruments
Notional amount	$ 50,000	$ 50,000
Weighted average fixed pay/receive rates	1.79%	1.79%
Weighted average variable interest rates	5.61%	4.77%
Weighted average maturity	8 months 15 days	1 year 8 months 15 days
Cash Flow Hedging | Loan Swap
Derivative Financial Instruments
Notional amount	$ 300,000	$ 300,000
Weighted average fixed pay/receive rates	4.81%	4.81%
Weighted average variable interest rates	8.50%	7.32%
Weighted average maturity	5 years 1 month 6 days	6 years 1 month 6 days

DERIVATIVE FINANCIAL INSTRUME_6

DERIVATIVE FINANCIAL INSTRUMENTS - Reclassification of unrealized gains and losses from OCI (Details) - Interest Rate Swap - Cash Flow Hedging $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Derivative Financial Instruments
Net unrealized gains (losses) in OCI expected to be recognized in net interest income	$ (469)
Interest Income
Derivative Financial Instruments
Net unrealized gains (losses) in OCI expected to be recognized in net interest income	(952)
Interest Expense
Derivative Financial Instruments
Net unrealized gains (losses) in OCI expected to be recognized in net interest income	$ 483

DERIVATIVE FINANCIAL INSTRUME_7

DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of interest income (expense) recorded on swap transactions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Derivative Financial Instruments
(Increase) decrease in interest expense on swap transactions	$ (159,922)	$ (36,548)	$ (28,102)
Interest Rate Swap | Cash Flow Hedging
Derivative Financial Instruments
Increase (decrease) in interest income on swap transactions	(10,326)	(553)	0
(Increase) decrease in interest expense on swap transactions	1,757	(30)	(1,067)
Net increase (decrease) in net interest income on swap transactions	$ (8,569)	$ (583)	$ (1,067)

DERIVATIVE FINANCIAL INSTRUME_8

DERIVATIVE FINANCIAL INSTRUMENTS - Net Gains (Losses) Recorded in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Derivative Financial Instruments
(Gain) loss reclassified from OCI to interest expense, net of tax	$ 6,126	$ 417	$ 763
Cash Flow Hedging | Interest Rate Contract
Derivative Financial Instruments
Net gain (loss) recognized in OCI, net of tax	(1,835)	(20,717)	736
(Gain) loss reclassified from OCI to interest income, net of tax	7,382	395	0
(Gain) loss reclassified from OCI to interest expense, net of tax	(1,256)	22	763
Net change in unrealized gains (losses) on cash flow hedges, net of tax	$ 4,291	$ (20,300)	$ 1,499

DERIVATIVE FINANCIAL INSTRUME_9

DERIVATIVE FINANCIAL INSTRUMENTS - Interest Rate Swaps Not Designated as Hedges (Details) - Not Designated as Hedging Instrument - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Interest Rate Swap
Derivative Asset
Notional Amount	$ 663,136	$ 576,911
Fair Value	28,664	40,055
Derivative Liability
Notional Amount	663,136	576,911
Fair Value	28,664	40,055
Interest rate swaps - pay floating, receive fixed
Derivative Asset
Notional Amount	177,883	48,728
Fair Value	2,375	370
Derivative Liability
Notional Amount	485,253	528,183
Fair Value	26,289	39,685
Interest rate swaps - pay fixed, receive floating
Derivative Asset
Notional Amount	485,253	528,183
Fair Value	26,289	39,685
Derivative Liability
Notional Amount	177,883	48,728
Fair Value	$ 2,375	$ 370

DERIVATIVE FINANCIAL INSTRUM_10

DERIVATIVE FINANCIAL INSTRUMENTS - Interest Rate Swaps Recorded in Noninterest Expense (Details) - Interest Rate Swap - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Derivative Financial Instruments
Net change in fair value of interest rate swaps	$ 0	$ 0	$ 0
Non-interest expense
Derivative Financial Instruments
Gain (loss) pay, floating receive fixed	(11,525)	19,308	(12,587)
Gain (loss) pay fixed receive floating	$ 11,525	$ (19,308)	$ 12,587

DERIVATIVE FINANCIAL INSTRUM_11

DERIVATIVE FINANCIAL INSTRUMENTS - Risk Participation Agreement (Details) $ in Thousands	Dec. 31, 2023 USD ($) Agreement	Dec. 31, 2022 USD ($) Agreement
Risk participation agreements purchased
Derivative Financial Instruments
Number of risk participation agreements | Agreement	3	2
Notional amount	$ 34,251	$ 18,899
Fair value	$ 15	$ 5
Risk participation agreements sold
Derivative Financial Instruments
Number of risk participation agreements | Agreement	1	0
Notional amount	$ 20,001	$ 0
Fair value	$ 0	$ 0

DERIVATIVE FINANCIAL INSTRUM_12

DERIVATIVE FINANCIAL INSTRUMENTS - Mortgage Banking Derivatives (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Mortgage banking derivative assets
Derivative asset, statement of financial position [Extensible Enumeration]	Other assets	Other assets
Mortgage banking derivative liabilities
Derivative liability, statement of financial position [Extensible Enumeration]	Other liabilities	Other liabilities
Interest rate lock commitments
Mortgage banking derivative assets
Notional Amount	$ 3,477	$ 1,517
Fair value recorded in other assets	25	16
Mortgage banking derivative liabilities
Notional Amount	1,615	83
Fair value recorded in other liabilities	10	1
Forward sales commitments
Mortgage banking derivative assets
Notional Amount	1,761	83
Fair value recorded in other assets	11	1
Mortgage banking derivative liabilities
Notional Amount	5,216	2,757
Fair value recorded in other liabilities	47	39
Mortgage banking derivative assets | Designated as Hedging Instrument
Mortgage banking derivative assets
Notional Amount	5,238	1,600
Fair value recorded in other assets	36	17
Mortgage banking derivative liabilities
Notional Amount	6,831	2,840
Fair value recorded in other liabilities	$ 57	$ 40

DERIVATIVE FINANCIAL INSTRUM_13

DERIVATIVE FINANCIAL INSTRUMENTS - Net Gains (Losses) Relating to Derivative Instruments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Derivative Financial Instruments
Derivative, gain (loss), statement of income or comprehensive income [Extensible Enumeration]	Mortgage revenue	Mortgage revenue	Mortgage revenue
Interest rate lock commitments | Designated as Hedging Instrument
Derivative Financial Instruments
Net change in fair value of interest rate swaps	$ 0	$ 15	$ 1,702
Forward sales commitments | Designated as Hedging Instrument
Derivative Financial Instruments
Net change in fair value of interest rate swaps	2	(38)	(4,045)
Net gains (losses) | Designated as Hedging Instrument
Derivative Financial Instruments
Net change in fair value of interest rate swaps	$ 2	$ (23)	$ (2,343)

FAIR VALUE MEASUREMENTS - Sched

FAIR VALUE MEASUREMENTS - Schedule of financial assets and financial liabilities measured at fair value on a recurring basis (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Financial assets and financial liabilities measured at fair value
Fair Value	$ 2,087,571	$ 2,461,393
Equity securities	9,812	11,535
U.S. Treasury securities
Financial assets and financial liabilities measured at fair value
Fair Value	15,946	114,061
Obligations of U.S. government corporations and agencies
Financial assets and financial liabilities measured at fair value
Fair Value	5,832	19,779
Obligations of states and political subdivisions
Financial assets and financial liabilities measured at fair value
Fair Value	172,845	257,512
Asset-backed securities
Financial assets and financial liabilities measured at fair value
Fair Value	468,223	469,875
Commercial mortgage-backed securities
Financial assets and financial liabilities measured at fair value
Fair Value	103,509	108,394
Residential mortgage-backed securities
Financial assets and financial liabilities measured at fair value
Fair Value	1,111,312	1,243,256
Corporate debt securities
Financial assets and financial liabilities measured at fair value
Fair Value	209,904	248,516
Fair Value, Recurring | Derivative assets
Financial assets and financial liabilities measured at fair value
Derivative assets	30,008	42,612
Fair Value, Recurring | Derivative liabilities
Financial assets and financial liabilities measured at fair value
Derivative liabilities	54,132	72,462
Fair Value, Recurring | U.S. Treasury securities
Financial assets and financial liabilities measured at fair value
Fair Value	15,946	114,061
Fair Value, Recurring | Obligations of U.S. government corporations and agencies
Financial assets and financial liabilities measured at fair value
Fair Value	5,832	19,779
Fair Value, Recurring | Obligations of states and political subdivisions
Financial assets and financial liabilities measured at fair value
Fair Value	172,845	257,512
Fair Value, Recurring | Asset-backed securities
Financial assets and financial liabilities measured at fair value
Fair Value	468,223	469,875
Fair Value, Recurring | Commercial mortgage-backed securities
Financial assets and financial liabilities measured at fair value
Fair Value	103,509	108,394
Fair Value, Recurring | Residential mortgage-backed securities
Financial assets and financial liabilities measured at fair value
Fair Value	1,111,312	1,243,256
Fair Value, Recurring | Corporate debt securities
Financial assets and financial liabilities measured at fair value
Fair Value	209,904	248,516
Fair Value, Recurring | Equity securities
Financial assets and financial liabilities measured at fair value
Equity securities	9,812	11,535
Fair Value, Recurring | Level 1 Inputs | Derivative assets
Financial assets and financial liabilities measured at fair value
Derivative assets	0	0
Fair Value, Recurring | Level 1 Inputs | Derivative liabilities
Financial assets and financial liabilities measured at fair value
Derivative liabilities	0	0
Fair Value, Recurring | Level 1 Inputs | U.S. Treasury securities
Financial assets and financial liabilities measured at fair value
Fair Value	0	0
Fair Value, Recurring | Level 1 Inputs | Obligations of U.S. government corporations and agencies
Financial assets and financial liabilities measured at fair value
Fair Value	0	0
Fair Value, Recurring | Level 1 Inputs | Obligations of states and political subdivisions
Financial assets and financial liabilities measured at fair value
Fair Value	0	0
Fair Value, Recurring | Level 1 Inputs | Asset-backed securities
Financial assets and financial liabilities measured at fair value
Fair Value	0	0
Fair Value, Recurring | Level 1 Inputs | Commercial mortgage-backed securities
Financial assets and financial liabilities measured at fair value
Fair Value	0	0
Fair Value, Recurring | Level 1 Inputs | Residential mortgage-backed securities
Financial assets and financial liabilities measured at fair value
Fair Value	0	0
Fair Value, Recurring | Level 1 Inputs | Corporate debt securities
Financial assets and financial liabilities measured at fair value
Fair Value	0	0
Fair Value, Recurring | Level 1 Inputs | Equity securities
Financial assets and financial liabilities measured at fair value
Equity securities	448	0
Fair Value, Recurring | Level 2 Inputs | Derivative assets
Financial assets and financial liabilities measured at fair value
Derivative assets	29,993	42,607
Fair Value, Recurring | Level 2 Inputs | Derivative liabilities
Financial assets and financial liabilities measured at fair value
Derivative liabilities	54,132	72,462
Fair Value, Recurring | Level 2 Inputs | U.S. Treasury securities
Financial assets and financial liabilities measured at fair value
Fair Value	15,946	114,061
Fair Value, Recurring | Level 2 Inputs | Obligations of U.S. government corporations and agencies
Financial assets and financial liabilities measured at fair value
Fair Value	5,832	19,779
Fair Value, Recurring | Level 2 Inputs | Obligations of states and political subdivisions
Financial assets and financial liabilities measured at fair value
Fair Value	172,845	257,512
Fair Value, Recurring | Level 2 Inputs | Asset-backed securities
Financial assets and financial liabilities measured at fair value
Fair Value	468,223	469,875
Fair Value, Recurring | Level 2 Inputs | Commercial mortgage-backed securities
Financial assets and financial liabilities measured at fair value
Fair Value	103,509	108,394
Fair Value, Recurring | Level 2 Inputs | Residential mortgage-backed securities
Financial assets and financial liabilities measured at fair value
Fair Value	1,111,312	1,243,256
Fair Value, Recurring | Level 2 Inputs | Corporate debt securities
Financial assets and financial liabilities measured at fair value
Fair Value	209,904	248,516
Fair Value, Recurring | Level 2 Inputs | Equity securities
Financial assets and financial liabilities measured at fair value
Equity securities	9,364	11,535
Fair Value, Recurring | Level 3 Inputs | Derivative assets
Financial assets and financial liabilities measured at fair value
Derivative assets	15	5
Fair Value, Recurring | Level 3 Inputs | Derivative liabilities
Financial assets and financial liabilities measured at fair value
Derivative liabilities	0	0
Fair Value, Recurring | Level 3 Inputs | U.S. Treasury securities
Financial assets and financial liabilities measured at fair value
Fair Value	0	0
Fair Value, Recurring | Level 3 Inputs | Obligations of U.S. government corporations and agencies
Financial assets and financial liabilities measured at fair value
Fair Value	0	0
Fair Value, Recurring | Level 3 Inputs | Obligations of states and political subdivisions
Financial assets and financial liabilities measured at fair value
Fair Value	0	0
Fair Value, Recurring | Level 3 Inputs | Asset-backed securities
Financial assets and financial liabilities measured at fair value
Fair Value	0	0
Fair Value, Recurring | Level 3 Inputs | Commercial mortgage-backed securities
Financial assets and financial liabilities measured at fair value
Fair Value	0	0
Fair Value, Recurring | Level 3 Inputs | Residential mortgage-backed securities
Financial assets and financial liabilities measured at fair value
Fair Value	0	0
Fair Value, Recurring | Level 3 Inputs | Corporate debt securities
Financial assets and financial liabilities measured at fair value
Fair Value	0	0
Fair Value, Recurring | Level 3 Inputs | Equity securities
Financial assets and financial liabilities measured at fair value
Equity securities	$ 0	$ 0

FAIR VALUE MEASUREMENTS - Sch_2

FAIR VALUE MEASUREMENTS - Schedule of assets and liabilities measured at fair value on a non-recurring basis (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans evaluated individually, net of related allowance	$ 3,151	$ 15,647
Fair Value, Nonrecurring | Loans evaluated individually, net of related allowance
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans evaluated individually, net of related allowance	1,000	5,345
Fair Value, Nonrecurring | Bank property held for sale with impairment
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Bank property held for sale with impairment	4,286	7,923
Fair Value, Nonrecurring | Level 1 Inputs | Loans evaluated individually, net of related allowance
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans evaluated individually, net of related allowance	0	0
Fair Value, Nonrecurring | Level 1 Inputs | Bank property held for sale with impairment
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Bank property held for sale with impairment	0	0
Fair Value, Nonrecurring | Level 2 Inputs | Loans evaluated individually, net of related allowance
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans evaluated individually, net of related allowance	0	0
Fair Value, Nonrecurring | Level 2 Inputs | Bank property held for sale with impairment
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Bank property held for sale with impairment	0	0
Fair Value, Nonrecurring | Level 3 Inputs | Loans evaluated individually, net of related allowance
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans evaluated individually, net of related allowance	1,000	5,345
Fair Value, Nonrecurring | Level 3 Inputs | Bank property held for sale with impairment
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Bank property held for sale with impairment	$ 4,286	$ 7,923

FAIR VALUE MEASUREMENTS - Sch_3

FAIR VALUE MEASUREMENTS - Schedule of quantitative information about Level 3 fair value measurements (Details) $ in Thousands	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Fair Value
Loans evaluated individually, net of related allowance	$ 3,151	$ 15,647
Fair Value, Nonrecurring | Loans evaluated individually, net of related allowance
Fair Value
Loans evaluated individually, net of related allowance	1,000	5,345
Fair Value, Nonrecurring | Bank property held for sale with impairment
Fair Value
Bank property held for sale with impairment	4,286	7,923
Fair Value, Nonrecurring | Level 3 Inputs | Loans evaluated individually, net of related allowance
Fair Value
Loans evaluated individually, net of related allowance	1,000	5,345
Fair Value, Nonrecurring | Level 3 Inputs | Bank property held for sale with impairment
Fair Value
Bank property held for sale with impairment	4,286	7,923
Fair Value, Nonrecurring | Level 3 Inputs | Appraisal of collateral | Loans evaluated individually, net of related allowance
Fair Value
Loans evaluated individually, net of related allowance	1,000	5,345
Fair Value, Nonrecurring | Level 3 Inputs | Appraisal of collateral or real estate listing price | Bank property held for sale with impairment
Fair Value
Bank property held for sale with impairment	$ 4,286	$ 7,923
Fair Value, Nonrecurring | Level 3 Inputs | Measurement Input, Comparability Adjustment | Appraisal of collateral | Loans evaluated individually, net of related allowance | Minimum
Range (Weighted Average)
Loans evaluated individually, net of related allowance	(0.412)	(0.227)
Fair Value, Nonrecurring | Level 3 Inputs | Measurement Input, Comparability Adjustment | Appraisal of collateral | Loans evaluated individually, net of related allowance | Maximum
Range (Weighted Average)
Loans evaluated individually, net of related allowance	(1)	(1)
Fair Value, Nonrecurring | Level 3 Inputs | Measurement Input, Comparability Adjustment | Appraisal of collateral | Loans evaluated individually, net of related allowance | Weighted Average
Range (Weighted Average)
Loans evaluated individually, net of related allowance	(0.472)	(0.457)
Fair Value, Nonrecurring | Level 3 Inputs | Measurement Input, Comparability Adjustment | Appraisal of collateral or real estate listing price | Bank property held for sale with impairment | Minimum
Range (Weighted Average)
Bank property held for sale with impairment	(0.062)	(0.007)
Fair Value, Nonrecurring | Level 3 Inputs | Measurement Input, Comparability Adjustment | Appraisal of collateral or real estate listing price | Bank property held for sale with impairment | Maximum
Range (Weighted Average)
Bank property held for sale with impairment	(0.649)	(0.701)
Fair Value, Nonrecurring | Level 3 Inputs | Measurement Input, Comparability Adjustment | Appraisal of collateral or real estate listing price | Bank property held for sale with impairment | Weighted Average
Range (Weighted Average)
Bank property held for sale with impairment	(0.384)	(0.351)

FAIR VALUE MEASUREMENTS - Sch_4

FAIR VALUE MEASUREMENTS - Schedule of estimated fair values of financial instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Financial assets
Debt securities held to maturity	$ 730,397	$ 785,295
Portfolio loans, net	7,559,294	7,634,094
Mortgage servicing rights	1,500,000	1,700,000
Financial liabilities
Short-term borrowings	12,000	351,054
Junior subordinated debt owed to unconsolidated trusts	71,993	71,810
Level 1 Inputs | Carrying Amount
Financial assets
Cash and cash equivalents	719,581	227,164
Level 1 Inputs | Fair Value
Financial assets
Cash and cash equivalents	719,581	227,164
Level 2 Inputs | Carrying Amount
Financial assets
Debt securities held to maturity	872,628	918,312
Loans held for sale	2,379	1,253
Accrued interest receivable	45,288	43,372
Financial liabilities
Time deposits	1,819,274	855,375
Securities sold under agreements to repurchase	187,396	229,806
Short-term borrowings	12,000	351,054
Long-term debt	18,000	30,000
Junior subordinated debt owed to unconsolidated trusts	71,993	71,810
Accrued interest payable	28,418	3,978
Level 2 Inputs | Fair Value
Financial assets
Debt securities held to maturity	730,397	785,295
Loans held for sale	2,401	1,276
Accrued interest receivable	45,288	43,372
Financial liabilities
Time deposits	1,804,905	830,596
Securities sold under agreements to repurchase	187,396	229,806
Short-term borrowings	12,034	351,085
Long-term debt	18,020	30,052
Junior subordinated debt owed to unconsolidated trusts	57,153	59,111
Accrued interest payable	28,418	3,978
Level 3 Inputs | Carrying Amount
Financial assets
Portfolio loans, net	7,559,294	7,634,094
Mortgage servicing rights	3,289	5,861
Other servicing rights	1,597	1,914
Level 3 Inputs | Fair Value
Financial assets
Portfolio loans, net	7,276,905	7,320,422
Mortgage servicing rights	18,079	18,284
Other servicing rights	2,062	2,331
Level 3 Inputs | Subordinated Debt | Carrying Amount
Financial liabilities
Long-term debt	222,882	222,038
Level 3 Inputs | Subordinated Debt | Fair Value
Financial liabilities
Long-term debt	$ 200,000	$ 208,562

EARNINGS PER SHARE - Schedule o

EARNINGS PER SHARE - Schedule of computation of earnings per common share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Net income per share calculations for basic and diluted methods
Net income	$ 122,565	$ 128,311	$ 123,449
Shares:
Weighted average number of common shares outstanding, basic (in shares)	55,432,322	55,387,073	55,369,476
Weighted average number of common shares outstanding, diluted (in shares)	56,256,148	56,137,164	56,008,805
Basic earnings per common share (in dollars per share)	$ 2.21	$ 2.32	$ 2.23
Diluted earnings per common share (in dollars per share)	$ 2.18	$ 2.29	$ 2.20
Options
Shares:
Dilutive effect of common stock equivalents (in shares)	0	1,632	1,639
Warrants
Shares:
Dilutive effect of common stock equivalents (in shares)	324	1,753	1,753
RSU awards
Shares:
Dilutive effect of common stock equivalents (in shares)	647,217	665,998	615,759
PSU awards
Shares:
Dilutive effect of common stock equivalents (in shares)	151,190	58,206	5,429
DSU awards
Shares:
Dilutive effect of common stock equivalents (in shares)	18,154	15,532	10,641
2021 ESPP
Shares:
Dilutive effect of common stock equivalents (in shares)	6,941	6,970	4,108

EARNINGS PER SHARE - Schedule_2

EARNINGS PER SHARE - Schedule of average shares excluded from computation of diluted earnings per common share (Details) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Anti-dilutive securities excluded from the calculation of common stock equivalents
Total anti-dilutive common stock equivalents (in shares)	168,381	235,704	165,826
Options
Anti-dilutive securities excluded from the calculation of common stock equivalents
Total anti-dilutive common stock equivalents (in shares)	21,981	7,792	0
RSU awards
Anti-dilutive securities excluded from the calculation of common stock equivalents
Total anti-dilutive common stock equivalents (in shares)	39,445	38,912	65,058
PSU awards
Anti-dilutive securities excluded from the calculation of common stock equivalents
Total anti-dilutive common stock equivalents (in shares)	106,955	189,000	93,026
DSU awards
Anti-dilutive securities excluded from the calculation of common stock equivalents
Total anti-dilutive common stock equivalents (in shares)	0	0	7,742

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 1,145,977	$ 1,319,112	$ 1,270,069
Unrealized/Unrecognized gains (losses) on debt securities
Unrealized holding gains (losses) on debt securities available for sale, net of tax	41,824	(199,302)	(58,610)
Unrecognized losses on debt securities transferred to held to maturity from available for sale, net of tax	0	(34,644)	0
Amounts reclassified from AOCI, net of tax	(3,934)	19	(44)
Amortization of unrecognized losses on securities transferred to held to maturity, net of tax	(4,426)	(4,745)	0
Unrealized gains (losses) on cash flow hedges:
Unrealized holding gains (losses) on cash flow hedges, net of tax	(1,835)	(20,717)	736
Amounts reclassified from AOCI, net of tax	(6,126)	(417)	(763)
Ending balance	1,271,981	1,145,977	1,319,112
AOCI
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Accumulated other comprehensive income (loss) beginning balance period, before tax	(382,228)	(33,230)
Accumulated other comprehensive income (loss) beginning balance period, tax effect	108,950	9,472
Beginning balance	(273,278)	(23,758)	33,309
Unrealized gains (losses) on cash flow hedges:
Accumulated other comprehensive income (loss) ending balance period, before tax	(306,036)	(382,228)	(33,230)
Accumulated other comprehensive income (loss) ending balance period, tax effect	87,233	108,950	9,472
Ending balance	(218,803)	(273,278)	(23,758)
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Accumulated other comprehensive income (loss) beginning balance period, before tax	(352,878)	(32,272)	49,644
Accumulated other comprehensive income (loss) beginning balance period, tax effect	100,585	9,199	(14,151)
Beginning balance	(252,293)	(23,073)	35,493
Unrealized/Unrecognized gains (losses) on debt securities
Unrealized holding gains (losses) on debt securities available for sale, before tax	58,498	(278,762)	(81,977)
Unrealized holding gains (losses) on debt securities available for sale, tax effect	(16,674)	79,460	23,367
Unrealized holding gains (losses) on debt securities available for sale, net of tax	41,824	(199,302)	(58,610)
Unrecognized losses on debt securities transferred to held to maturity from available for sale, before tax		(48,456)
Unrecognized losses on debt securities transferred to held to maturity from available for sale, tax effect	0	13,812	0
Unrecognized losses on debt securities transferred to held to maturity from available for sale, net of tax		(34,644)
Amounts reclassified from AOCI, before tax	5,503	(26)	61
Amounts reclassified from AOCI, tax effect	(1,569)	7	(17)
Amounts reclassified from AOCI, net of tax	3,934	(19)	44
Amortization of unrecognized losses on securities transferred to held to maturity, before tax	6,189	6,638
Amortization of unrecognized losses on securities transferred to held to maturity, tax effect	(1,763)	(1,893)	0
Amortization of unrecognized losses on securities transferred to held to maturity, net of tax	4,426	4,745
Unrealized gains (losses) on cash flow hedges:
Accumulated other comprehensive income (loss) ending balance period, before tax	(282,688)	(352,878)	(32,272)
Accumulated other comprehensive income (loss) ending balance period, tax effect	80,579	100,585	9,199
Ending balance	(202,109)	(252,293)	(23,073)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Accumulated other comprehensive income (loss) beginning balance period, before tax	(29,350)	(958)	(3,055)
Accumulated other comprehensive income (loss) beginning balance period, tax effect	8,365	273	871
Beginning balance	(20,985)	(685)	(2,184)
Unrealized gains (losses) on cash flow hedges:
Unrealized holding gains (losses) on cash flow hedges, before tax	(2,567)	(28,975)	1,030
Unrealized holding gains (losses) on cash flow hedges, tax effect	732	8,258	(294)
Unrealized holding gains (losses) on cash flow hedges, net of tax	(1,835)	(20,717)	736
Amounts reclassified from AOCI, before tax	8,569	583	1,067
Amounts reclassified from AOCI, tax effect	(2,443)	(166)	(304)
Amounts reclassified from AOCI, net of tax	6,126	417	763
Accumulated other comprehensive income (loss) ending balance period, before tax	(23,348)	(29,350)	(958)
Accumulated other comprehensive income (loss) ending balance period, tax effect	6,654	8,365	273
Ending balance	$ (16,694)	$ (20,985)	$ (685)

OPERATING SEGMENTS AND RELATE_3

OPERATING SEGMENTS AND RELATED INFORMATION (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) segment	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Operating Segments and Related Information
Number of reportable segments | segment	3
Number of operating segments | segment	3
Goodwill	$ 317,873	$ 317,873
Total Assets	12,283,415	12,336,677
Net interest income	319,451	323,438	$ 270,698
Noninterest income	122,384	126,803	132,804
Noninterest expense	285,532	283,881	261,780
Income before income taxes	153,904	161,737	156,823
Net income	122,565	128,311	123,449
Banking
Operating Segments and Related Information
Goodwill	294,773	294,773
Wealth Management
Operating Segments and Related Information
Goodwill	14,108	14,108
FirsTech
Operating Segments and Related Information
Goodwill	8,992	8,992
Operating segment | Banking
Operating Segments and Related Information
Goodwill	294,773	294,773
Total Assets	12,125,298	12,199,960
Net interest income	335,345	340,083	285,678
Noninterest income	46,701	54,154	59,393
Noninterest expense	223,451	221,997	205,905
Income before income taxes	156,196	167,617	154,267
Net income	123,853	131,596	117,844
Operating segment | Wealth Management
Operating Segments and Related Information
Goodwill	14,108	14,108
Total Assets	103,147	84,082
Noninterest income	57,823	55,394	53,082
Noninterest expense	33,081	31,545	29,198
Income before income taxes	24,742	23,849	23,884
Net income	18,804	18,543	18,570
Operating segment | FirsTech
Operating Segments and Related Information
Goodwill	8,992	8,992
Total Assets	51,600	48,715
Net interest income	54	65	79
Noninterest income	22,746	21,720	19,629
Noninterest expense	21,653	20,619	17,574
Income before income taxes	1,147	1,166	2,134
Net income	830	847	1,527
Intersegment Eliminations
Operating Segments and Related Information
Goodwill	0	0
Total Assets	3,370	3,920
Net interest income	(15,948)	(16,710)	(15,059)
Noninterest income	(4,886)	(4,465)	700
Noninterest expense	7,347	9,720	9,103
Income before income taxes	(28,181)	(30,895)	(23,462)
Net income	$ (20,922)	$ (22,675)	$ (14,492)

PARENT COMPANY ONLY FINANCIAL_3

PARENT COMPANY ONLY FINANCIAL INFORMATION - Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Assets
Equity securities	$ 9,812	$ 11,535
Investments in subsidiaries:
Premises and equipment, net	122,594	126,524
Other assets	361,690	398,792
Total assets	12,283,415	12,336,677
Liabilities:
Short-term borrowings	12,000	351,054
Long-term debt	18,000	30,000
Subordinated notes, net of unamortized issuance costs	222,882	222,038
Junior subordinated debentures owed to unconsolidated trusts	71,993	71,810
Other liabilities	196,699	201,717
Total liabilities	11,011,434	11,190,700
Total stockholders’ equity	1,271,981	1,145,977	$ 1,319,112	$ 1,270,069
Total liabilities and stockholders’ equity	12,283,415	12,336,677
Parent Company
Assets
Cash and cash equivalents	100,098	91,812
Debt securities	987	0
Equity securities	9,364	11,535
Investments in subsidiaries:
Bank	1,478,118	1,369,261
Non-bank	0	2,181
Premises and equipment, net	7	18
Other assets	20,100	22,316
Total assets	1,608,674	1,497,123
Liabilities:
Short-term borrowings	12,000	12,000
Long-term debt	18,000	30,000
Subordinated notes, net of unamortized issuance costs	222,882	222,038
Junior subordinated debentures owed to unconsolidated trusts	71,993	71,810
Other liabilities	11,818	15,298
Total liabilities	336,693	351,146
Total stockholders’ equity	1,271,981	1,145,977
Total liabilities and stockholders’ equity	$ 1,608,674	$ 1,497,123

PARENT COMPANY ONLY FINANCIAL_4

PARENT COMPANY ONLY FINANCIAL INFORMATION - Statements of Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Dividends from subsidiaries:
Income from dissolution of non-bank subsidiary	$ 733	$ 0	$ 0
Other income	11,248	14,822	10,292
Expense
Salaries, wages, and employee benefits	162,597	159,016	145,312
Interest expense	159,922	36,548	28,102
Income tax benefit	(31,339)	(33,426)	(33,374)
Equity in undistributed (in excess of) net income of subsidiaries
Net income	122,565	128,311	123,449
Parent Company
Dividends from subsidiaries:
Bank	90,000	95,000	60,000
Non-bank	900	1,630	1,745
Interest income	2,956	1,094	79
Gains (losses) recognized on equity securities, net	(2,171)	(2,159)	3,041
Other income	14,130	15,195	12,109
Total operating income	106,548	110,760	76,974
Expense
Salaries, wages, and employee benefits	17,766	20,964	17,914
Interest expense	19,005	17,854	15,163
Operating expense	8,009	7,294	7,429
Total expense	44,780	46,112	40,506
Income (loss) before income tax benefit and equity in undistributed (in excess of) net income of subsidiaries	61,768	64,648	36,468
Income tax benefit	7,310	8,286	8,974
Income (loss) before equity in undistributed (in excess of) net income of subsidiaries	69,078	72,934	45,442
Equity in undistributed (in excess of) net income of subsidiaries
Bank	53,487	55,986	77,941
Non-bank	0	(609)	66
Net income	$ 122,565	$ 128,311	$ 123,449

PARENT COMPANY ONLY FINANCIAL_5

PARENT COMPANY ONLY FINANCIAL INFORMATION - Statements of Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	$ 9,488	$ 10,482	$ 11,610
Unrealized (gains) losses recognized on equity securities, net	2,171	2,183	(3,041)
Stock-based compensation	6,595	8,968	7,864
(Increase) decrease in other assets	(17,888)	(56,284)	7,203
Increase (decrease) in other liabilities	12,826	2,633	(28,096)
Net cash provided by (used in) operating activities	173,390	165,895	162,012
Cash flows provided by (used in) investing activities
Purchases of premises and equipment	(9,533)	(4,989)	(5,042)
Net cash provided by (used in) investing activities	550,987	(290,964)	(829,190)
Cash flows provided by (used in) financing activities
Cash paid for withholding taxes on stock-based payments	(1,093)	(1,276)	(997)
Cash dividends paid	(53,076)	(50,863)	(50,764)
Purchase of treasury stock	(4,482)	(9,912)	(33,043)
Common stock issuance costs	0	0	(150)
Net cash provided by (used in) financing activities	(231,960)	(483,862)	814,736
Net increase (decrease) in cash and cash equivalents	492,417	(608,931)	147,558
Cash and cash equivalents, beginning of period	227,164	836,095	688,537
Cash and cash equivalents, ending of period	719,581	227,164	836,095
Parent Company
Cash flows provided by (used in) operating activities
Net income	122,565	128,311	123,449
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	1,038	1,423	882
Distributions more (less) than net income of subsidiaries	(53,487)	(55,377)	(78,007)
Unrealized (gains) losses recognized on equity securities, net	2,171	2,159	(3,041)
Stock-based compensation	6,595	8,968	7,864
(Increase) decrease in other assets	6,253	(17,754)	(1,186)
Increase (decrease) in other liabilities	(7,687)	21,233	(3,302)
Net cash provided by (used in) operating activities	77,448	88,963	46,659
Cash flows provided by (used in) investing activities
Sales (purchases) of equity securities, net	0	598	(5,000)
Net cash paid for acquisitions	0	0	(61,656)
Purchases of premises and equipment	0	(9)	(15)
Repayments of investments in subsidiaries	1,480	0	0
Net cash provided by (used in) investing activities	1,480	589	(66,671)
Cash flows provided by (used in) financing activities
Cash paid for withholding taxes on stock-based payments	(1,093)	(1,276)	(997)
Cash dividends paid	(53,076)	(50,863)	(50,764)
Repayments of borrowings	(12,000)	(112,000)	(18,500)
Proceeds from issuance of debt	0	98,094	72,500
Proceeds from the exercise of stock options and warrants	9	0	0
Purchase of treasury stock	(4,482)	(9,912)	(33,043)
Common stock issuance costs	0	0	(150)
Net cash provided by (used in) financing activities	(70,642)	(75,957)	(30,954)
Net increase (decrease) in cash and cash equivalents	8,286	13,595	(50,966)
Cash and cash equivalents, beginning of period	91,812	78,217	129,183
Cash and cash equivalents, ending of period	$ 100,098	$ 91,812	$ 78,217

ACQUISITIONS (Details)

ACQUISITIONS (Details) - Merchants and Manufacturers Bank Corporation $ / shares in Units, $ in Millions		12 Months Ended
	Nov. 27, 2023 $ / shares	Dec. 31, 2023 USD ($)	Nov. 24, 2023 USD ($)
Business Acquisition, Contingent Consideration [Line Items]
Per share cash consideration entitled (in dollars per share) | $ / shares	$ 117.74
Share consideration conversion ratio	5.7294
Mixed consideration (in dollars per share) | $ / shares	$ 34.55
Mixed consideration ratio	4.0481
Common stock share consideration	71%
Common stock cash consideration	29%
Aggregate implied transaction value | $			$ 41.6
Pre-tax acquisition expenses | $		$ 0.3