First Busey (BUSE) 10-Q 5 Nov 24 2024 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2024	Nov. 05, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
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, $.001 par value
Trading Symbol	BUSE
Security Exchange Name	NASDAQ
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
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		56,877,956
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Entity Central Index Key	0000314489
Amendment Flag	false

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Cash and cash equivalents:
Cash and due from banks	$ 149,845	$ 134,680
Interest-bearing deposits	403,864	584,901
Total cash and cash equivalents	553,709	719,581
Debt securities available for sale	1,818,117	2,087,571
Debt securities held to maturity	838,883	872,628
Equity securities	10,315	9,812
Loans held for sale	11,523	2,379
Portfolio loans (net of ACL of $84,981 at September 30, 2024, and $91,740 at December 31, 2023)	7,724,116	7,559,294
Premises and equipment, net	120,279	122,594
Right of use assets	11,100	11,027
Goodwill	333,498	317,873
Other intangible assets, net	34,751	35,991
Cash surrender value of bank owned life insurance	184,007	182,975
Other assets	346,541	361,690
Total assets	11,986,839	12,283,415
Deposits:
Noninterest-bearing	2,683,543	2,834,655
Interest-bearing	7,259,698	7,456,501
Total deposits	9,943,241	10,291,156
Securities sold under agreements to repurchase	128,429	187,396
Short-term borrowings	0	12,000
Long-term debt	0	18,000
Subordinated notes, net of unamortized issuance costs	227,482	222,882
Junior subordinated debt owed to unconsolidated trusts	74,754	71,993
Lease liabilities	11,470	11,308
Other liabilities	198,579	196,699
Total liabilities	10,583,955	11,011,434
Outstanding commitments and contingent liabilities (see Notes 5 and 11)
Stockholders’ equity
Common stock, ($.001 par value; 100,000,000 shares authorized)	60	58
Additional paid-in capital	1,358,816	1,323,595
Retained earnings	279,868	237,197
AOCI	(170,913)	(218,803)
Total stockholders’ equity before treasury stock	1,467,831	1,342,047
Treasury stock at cost	(64,947)	(70,066)
Total stockholders’ equity	1,402,884	1,271,981
Total liabilities and stockholders’ equity	$ 11,986,839	$ 12,283,415
Shares
Common shares issued (in shares)	59,546,273	58,116,969
Less: Treasury shares (in shares)	(2,674,032)	(2,872,850)
Common shares outstanding (in shares)	56,872,241	55,244,119

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Portfolio loans, allowance for credit losses	$ 84,981	$ 91,740
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 (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Interest income
Interest and fees on loans	$ 111,336	$ 99,844	$ 320,302	$ 284,423
Interest and dividends on investment securities:
Taxable interest income	17,789	20,549	56,264	60,224
Non-taxable interest income	283	685	918	2,136
Other interest income	5,092	1,591	14,590	3,890
Total interest income	134,500	122,669	392,074	350,673
Interest expense
Deposits	46,634	37,068	134,311	78,576
Federal funds purchased and securities sold under agreements to repurchase	981	1,327	3,393	3,772
Short-term borrowings	26	1,964	676	12,527
Long-term debt	0	425	300	1,331
Subordinated notes	3,181	3,103	9,467	9,300
Junior subordinated debt owed to unconsolidated trusts	1,137	991	3,185	2,849
Total interest expense	51,959	44,878	151,332	108,355
Net interest income	82,541	77,791	240,742	242,318
Provision for credit losses	2	364	7,317	1,944
Net interest income after provision for credit losses	82,539	77,427	233,425	240,374
Noninterest income
Mortgage revenue	355	311	1,579	871
Income on bank owned life insurance	1,189	1,001	4,050	3,682
Realized net gains (losses) on the sale of mortgage servicing rights	(18)	0	7,724	0
Realized net gains (losses) on securities	(11)	(33)	(6,817)	(207)
Unrealized net gains (losses) recognized on equity securities	833	(252)	911	(2,753)
Other noninterest income	4,792	3,018	10,550	8,349
Total noninterest income	35,951	31,008	104,752	90,868
Noninterest expense
Salaries, wages, and employee benefits	44,593	39,677	130,161	119,867
Data processing	6,910	5,930	20,560	17,472
Net occupancy expense of premises	4,633	4,594	13,943	13,896
Furniture and equipment expenses	1,647	1,638	5,155	5,065
Professional fees	3,118	1,542	7,866	4,573
Amortization of intangible assets	2,548	2,555	7,586	7,953
Interchange expense	1,352	1,786	4,696	5,509
FDIC insurance	1,413	1,475	4,273	4,483
Other noninterest expense	9,712	11,748	27,992	31,735
Total noninterest expense	75,926	70,945	222,232	210,553
Income before income taxes	42,564	37,490	115,945	120,689
Income taxes	10,560	6,824	30,359	23,873
Net income	$ 32,004	$ 30,666	$ 85,586	$ 96,816
Basic earnings per common share (in dollars per share)	$ 0.56	$ 0.55	$ 1.52	$ 1.75
Diluted earnings per common share (in dollars per share)	0.55	0.54	1.49	1.72
Dividends declared per share of common stock (in dollars per share)	$ 0.24	$ 0.24	$ 0.72	$ 0.72
Wealth management fees
Noninterest income
Noninterest income	$ 15,378	$ 14,235	$ 46,844	$ 43,594
Fees for customer services
Noninterest income
Noninterest income	8,168	7,502	23,022	21,560
Payment technology solutions
Noninterest income
Noninterest income	$ 5,265	$ 5,226	$ 16,889	$ 15,772

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 32,004	$ 30,666	$ 85,586	$ 96,816
Unrealized/Unrecognized gains (losses) on debt securities:
Net unrealized holding gains (losses) on debt securities available for sale, net of taxes of $(15,664), $10,746, $(13,878), and $6,728, respectively	39,286	(26,950)	34,810	(16,872)
Reclassification adjustment for realized (gains) losses on debt securities available for sale included in net income, net of taxes of $(3), $(9), $(1,943), and $(59), respectively	8	24	4,874	148
Amortization of unrecognized losses on securities transferred to held to maturity, net of taxes of $(394), $(420), $(1,195), and $(1,346), respectively	990	1,056	2,999	3,379
Net change in unrealized/unrecognized gains (losses) on debt securities	40,284	(25,870)	42,683	(13,345)
Unrealized gains (losses) on cash flow hedges:
Net unrealized holding gains (losses) on cash flow hedges, net of taxes of $(2,965), $2,220, $(84), and $3,412, respectively	7,439	(5,577)	211	(8,563)
Reclassification adjustment for realized (gains) losses on cash flow hedges included in net income, net of taxes of $(674), ($652), $(1,992), and ($1,776), respectively	1,690	1,638	4,996	4,456
Net change in unrealized gains (losses) on cash flow hedges	9,129	(3,939)	5,207	(4,107)
OCI	49,413	(29,809)	47,890	(17,452)
Total comprehensive income	$ 81,417	$ 857	$ 133,476	$ 79,364

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent
Net unrealized holding gains (losses) on debt securities available for sale, net, tax (benefit) expense	$ 15,664	$ (10,746)	$ 13,878	$ (6,728)
Reclassification adjustment for realized (gains) losses on debt securities available for sale included in net income, tax expense (benefit)	(3)	(9)	(1,943)	(59)
Amortization of unrecognized losses on securities transferred to held to maturity, tax expense (benefit)	(394)	(420)	(1,195)	(1,346)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent
Net unrealized holding gains (losses) on cash flow hedges, tax expense (benefit)	2,965	(2,220)	84	(3,412)
Reclassification adjustment for realized (gains) losses on cash flow hedges included in net income, tax expense (benefit)	$ (674)	$ (652)	$ (1,992)	$ (1,776)

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	AOCI	Treasury Stock
Beginning balance (in shares) at Dec. 31, 2022		55,279,124
Beginning balance at Dec. 31, 2022	$ 1,145,977	$ 58	$ 1,320,980	$ 168,769	$ (273,278)	$ (70,552)
Increase (decrease) in shareholders' equity
Net income	96,816			96,816
OCI, net of tax	(17,452)				(17,452)
Repurchase of stock (in shares)		(110,123)
Repurchase of stock	(2,209)					(2,209)
Issuance of treasury stock for ESPP (in shares)		51,885
Issuance of treasury stock for ESPP	884		(451)			1,335
Net issuance of treasury stock for RSU/PSU/DSU vesting and related tax (in shares)		120,137
Net issuance of treasury stock for RSU/PSU/DSU vesting and related tax	(989)		(4,083)			3,094
Net issuance of treasury stock for warrants exercised (in shares)		994
Net issuance of treasury stock for warrants exercised	9		(17)			26
Cash dividends on common stock	(39,806)			(39,806)
Stock dividend equivalents on RSUs/PSUs/DSUs	0		1,081	(1,081)
Stock-based compensation	6,928		6,928
Ending balance (in shares) at Sep. 30, 2023		55,342,017
Ending balance at Sep. 30, 2023	1,190,158	$ 58	1,324,438	224,698	(290,730)	(68,306)
Beginning balance (in shares) at Jun. 30, 2023		55,290,847
Beginning balance at Jun. 30, 2023	1,201,948	$ 58	1,325,173	207,660	(260,921)	(70,022)
Increase (decrease) in shareholders' equity
Net income	30,666			30,666
OCI, net of tax	(29,809)				(29,809)
Repurchase of stock (in shares)		(65,123)
Repurchase of stock	(1,278)					(1,278)
Issuance of treasury stock for ESPP (in shares)		11,291
Issuance of treasury stock for ESPP	184		(106)			290
Net issuance of treasury stock for RSU/PSU/DSU vesting and related tax (in shares)		105,002
Net issuance of treasury stock for RSU/PSU/DSU vesting and related tax	(889)		(3,593)			2,704
Cash dividends on common stock	(13,267)			(13,267)
Stock dividend equivalents on RSUs/PSUs/DSUs	0		361	(361)
Stock-based compensation	2,603		2,603
Ending balance (in shares) at Sep. 30, 2023		55,342,017
Ending balance at Sep. 30, 2023	1,190,158	$ 58	1,324,438	224,698	(290,730)	(68,306)
Beginning balance (in shares) at Dec. 31, 2023		55,244,119
Beginning balance at Dec. 31, 2023	1,271,981	$ 58	1,323,595	237,197	(218,803)	(70,066)
Beginning balance (Accounting Standards Update 2023-02) at Dec. 31, 2023	(1,391)			(1,391)
Increase (decrease) in shareholders' equity
Net income	85,586			85,586
OCI, net of tax	47,890				47,890
Stock issued in acquisition, net of stock issuance costs (in shares)		1,429,304
Stock issued in acquisition, net of stock issuance costs	34,234	$ 2	34,232
Issuance of treasury stock for ESPP (in shares)		45,679
Issuance of treasury stock for ESPP	926		(250)			1,176
Net issuance of treasury stock for RSU/PSU/DSU vesting and related tax (in shares)		153,087
Net issuance of treasury stock for RSU/PSU/DSU vesting and related tax	(1,650)		(5,592)			3,942
Net issuance of treasury stock for options exercised, net of shares redeemed and related tax (in shares)		52
Net issuance of treasury stock for options exercised, net of shares redeemed and related tax	0		(1)			1
Cash dividends on common stock	(40,520)			(40,520)
Stock dividend equivalents on RSUs/PSUs/DSUs	0		1,004	(1,004)
Stock-based compensation	5,828		5,828
Ending balance (in shares) at Sep. 30, 2024		56,872,241
Ending balance at Sep. 30, 2024	1,402,884	$ 60	1,358,816	279,868	(170,913)	(64,947)
Beginning balance (in shares) at Jun. 30, 2024		56,746,937
Beginning balance at Jun. 30, 2024	1,333,810	$ 60	1,360,430	261,820	(220,326)	(68,174)
Increase (decrease) in shareholders' equity
Net income	32,004			32,004
OCI, net of tax	49,413				49,413
Issuance of treasury stock for ESPP (in shares)		13,109
Issuance of treasury stock for ESPP	265		(73)			338
Net issuance of treasury stock for RSU/PSU/DSU vesting and related tax (in shares)		112,143
Net issuance of treasury stock for RSU/PSU/DSU vesting and related tax	(1,254)		(4,142)			2,888
Net issuance of treasury stock for options exercised, net of shares redeemed and related tax (in shares)		52
Net issuance of treasury stock for options exercised, net of shares redeemed and related tax	0		(1)			1
Cash dividends on common stock	(13,645)			(13,645)
Stock dividend equivalents on RSUs/PSUs/DSUs	0		311	(311)
Stock-based compensation	2,291		2,291
Ending balance (in shares) at Sep. 30, 2024		56,872,241
Ending balance at Sep. 30, 2024	$ 1,402,884	$ 60	$ 1,358,816	$ 279,868	$ (170,913)	$ (64,947)

CONSOLIDATED STATEMENTS OF ST_2

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Statement of Stockholders' Equity [Abstract]
Accounting Standards Update [Extensible Enumeration]					Accounting Standards Update 2023-02
Cash dividends, common stock (in dollars per share)	$ 0.24	$ 0.24	$ 0.72	$ 0.72

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows provided by (used in) operating activities
Net income	$ 85,586	$ 96,816
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Provision for credit losses	7,317	1,944
Amortization of intangible assets	7,586	7,953
Amortization of mortgage servicing rights	826	2,155
Amortization of NMTC	0	6,740
Depreciation and amortization of premises and equipment	7,186	7,052
Net amortization (accretion) on portfolio loans	3,602	5,399
Net amortization (accretion) of premium (discount) on investment securities	6,848	11,351
Net amortization (accretion) of premium (discount) on time deposits	87	(223)
Net amortization (accretion) of premium (discount) on FHLB advances and other borrowings	856	764
Impairment of OREO and other repossessed assets	0	113
Impairment of fixed assets held for sale	369	0
Impairment of mortgage servicing rights	233	1
Unrealized (gains) losses recognized on equity securities, net	(911)	2,753
(Gain) loss on sales of debt securities, net	6,817	207
(Gain) loss on sales of mortgage servicing rights	(7,724)	0
(Gain) loss on sales of loans, net	(1,307)	(603)
(Gain) loss on sales of OREO and other repossessed assets	(549)	4
(Gain) loss on sales of premises and equipment	(32)	(197)
(Gain) loss on life insurance proceeds	(895)	(759)
(Increase) decrease in cash surrender value of bank owned life insurance	(3,155)	(2,923)
Provision for deferred income taxes	1,905	(2,000)
Stock-based compensation	5,828	6,928
Proceeds from the sale of mortgage servicing rights	9,796	0
Mortgage loans originated for sale	(85,741)	(28,663)
Proceeds from sales of mortgage loans	78,006	27,418
(Increase) decrease in other assets	10,082	(15,072)
Increase (decrease) in other liabilities	(6,655)	171
Net cash provided by (used in) operating activities	125,961	127,329
Cash flows provided by (used in) investing activities
Purchases of equity securities	(647)	(6,169)
Purchases of debt securities available for sale	(31,149)	(7,796)
Proceeds from sales of equity securities	1,055	6,169
Proceeds from sales of debt securities available for sale	101,361	0
Proceeds from paydowns and maturities of debt securities held to maturity	35,932	38,172
Proceeds from paydowns and maturities of debt securities available for sale	251,175	253,648
Purchases of FHLB and other bank stock	(24)	(30,957)
Proceeds from the redemption of FHLB and other bank stock	884	43,926
Net (increase) decrease in loans	241,463	(137,843)
Net cash received in (paid for) acquisitions (see Note 2)	18,377	0
Cash paid for premiums on bank-owned life insurance	(74)	(80)
Proceeds from life insurance	3,092	2,292
Purchases of premises and equipment	(4,504)	(6,750)
Proceeds from disposition of premises and equipment	1,341	3,881
Proceeds from sales of OREO and other repossessed assets, including cash payments collected	636	781
Net cash provided by (used in) investing activities	618,918	159,274
Cash flows provided by (used in) financing activities
Net increase (decrease) in deposits	(740,840)	261,305
Net increase (decrease) in federal funds purchased and securities sold under agreements to repurchase	(60,150)	(46,104)
Net increase (decrease) in short-term borrowings	(36,000)	(335,000)
Repayment of other borrowings	(31,450)	(13,054)
Cash dividends paid	(40,520)	(39,806)
Purchase of treasury stock	0	(2,209)
Cash paid for withholding taxes on stock-based payments	(1,650)	(989)
Proceeds from stock warrants exercised	0	9
Common stock issuance costs	(141)	0
Net cash provided by (used in) financing activities	(910,751)	(175,848)
Net increase (decrease) in cash and cash equivalents	(165,872)	110,755
Cash and cash equivalents, beginning of period	719,581	227,164
Cash and cash equivalents, ending of period	553,709	337,919
Cash payments for:
Interest	146,302	89,572
Income taxes	12,388	23,594
Non-cash investing and financing activities:
OREO acquired in settlement of loans	$ 26	$ 144

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	NOTE 1. SIGNIFICANT ACCOUNTING POLICIES Nature of Operations First Busey Corporation, a Nevada corporation organized in 1980, is an $11.99 billion financial holding company headquartered in Champaign, Illinois. Busey’s common stock is traded on The Nasdaq Global Select Market under the symbol “BUSE.” Busey operates and reports its business in three segments: Banking, Wealth Management, and FirsTech. • The Banking operating segment provides a full range of banking services to individual and corporate customers through its banking center network in Illinois; the St. Louis, Missouri metropolitan area; southwest Florida; and Indianapolis, Indiana. • 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. • The FirsTech operating segment provides comprehensive and innovative payment technology solutions including online, mobile, and voice-recognition bill payments; money management and credit card networks; direct debit services; lockbox remittance processing for payments made by mail; and walk-in payments. FirsTech also provides additional tools to help clients with billing, reconciliation, bill reminders, and treasury services. For additional information about First Busey's operating segments, see “ Note 16. Operating Segments and Related Information .” Basis of Financial Statement Presentation These unaudited consolidated financial statements and related notes should be read in conjunction with the audited consolidated financial statements included in Busey's 2023 Annual Report . These interim unaudited consolidated financial statements serve to update our 2023 Annual Report and may not include all information and notes necessary to constitute a complete set of financial statements. We prepared these unaudited consolidated financial statements in conformity with GAAP. We have eliminated intercompany accounts and transactions. We have also reclassified certain prior year amounts to conform to the current period presentation. These reclassifications did not have a material impact on our consolidated financial condition or results of operations. In our opinion, the unaudited consolidated financial statements reflect all normal, recurring adjustments needed to present fairly our results for the interim periods. The results of operations for interim periods are not necessarily indicative of the results that may be expected for the full year or any other interim period. Use of Estimates In preparing the accompanying unaudited consolidated financial statements in conformity with GAAP, Busey’s management is required to make estimates and assumptions that affect the amounts reported in the 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. Income Taxes During the nine months ended September 30, 2024, Busey recorded an estimated one-time deferred tax valuation adjustment of $1.4 million resulting from a change to our Illinois apportionment rate due to recently enacted regulations. These new regulations are expected to lower our ongoing tax obligation in future periods, but create a negative adjustment to the carrying value of our deferred tax asset in the current year. As of September 30, 2024, Busey Bank is under examination by the Florida Department of Revenue for its 2020 to 2022 corporate income tax filings. Impact of Recently Adopted Accounting Standards 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. Busey adopted this standard on a modified retrospective basis on January 1, 2024. Upon adoption, Busey recorded an after-tax decrease to retained earnings of $1.4 million 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. Busey adopted this standard on a prospective basis on January 1, 2024. Adoption of this standard did not have a material impact on Busey’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. Busey adopted this standard on a prospective basis on January 1, 2024. Adoption of this standard did not have a material impact on Busey’s financial position or results of operations. Recently Issued Accounting Standards Not Yet Adopted In March 2024, the FASB issued ASU 2024-01 “Compensation-Stock Compensation (Topic 718): Scope Application of Profits Interest and Similar Awards” to clarify that certain “profits interests” are within the scope of Topic 718 by amending the language and providing illustrative examples on how the scope guidance in paragraph 718-10-15-3 should be applied. This update is intended to improve clarity of the accounting standards codification, not to change the guidance. This update may be applied on a retrospective or prospective basis and will be effective for Busey for annual and interim periods beginning January 1, 2025. Early adoption is permitted. Busey is currently evaluating the potential effects of adoption of this ASU on its financial position and results of operations. 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 reporting periods beginning with the fiscal year ending December 31, 2025. Busey does not expect adoption of this standard to have a material impact on its 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 for annual reporting periods beginning with the fiscal year ending December 31, 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 ASU 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 its financial position or results of operations. Subsequent Events Busey has evaluated subsequent events for potential recognition and/or disclosure through the date the unaudited consolidated financial statements included in this Quarterly Report were issued. There were no significant events subsequent to the quarter ended September 30, 2024, through the filing date of these unaudited consolidated financial statements.

MERGERS AND ACQUISITIONS

MERGERS AND ACQUISITIONS	9 Months Ended
	Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
MERGERS AND ACQUISITIONS	NOTE 2. MERGERS AND ACQUISITIONS CrossFirst Bankshares, Inc. On August 26, 2024, Busey and CrossFirst, a Kansas corporation, entered into an Agreement and Plan of Merger (the “Merger Agreement”). The Merger Agreement provides that, upon the terms and subject to the conditions set forth therein, CrossFirst will merge with and into Busey, with Busey as the surviving corporation in the merger (the “Merger”). The Merger Agreement further provides that at a date and time following the Merger as determined by Busey, CrossFirst Bank, a Kansas state-chartered bank and a wholly owned subsidiary of CrossFirst, will merge with and into Busey Bank, with Busey Bank as the surviving bank (the “Bank Merger”). Upon the terms and subject to the conditions set forth in the Merger Agreement, at the effective time of the Merger (the “Effective Time”), each share of CrossFirst common stock outstanding immediately prior to the Effective Time, other than certain shares held by CrossFirst or Busey, will be converted into the right to receive 0.6675 of a share of Busey common stock. Upon completion of the Merger, holders of Busey common stock (“Busey stockholders”) will own approximately 63.5% of the combined company and holders of CrossFirst common stock (“CrossFirst stockholders”) will own approximately 36.5% of the combined company, on a fully-diluted basis. Completion of the merger is subject to customary closing conditions, including the approval of both Busey stockholders and CrossFirst stockholders and the requisite regulatory approvals for the Merger and the Bank Merger. With approvals, the parties expect to close the merger in the first or second quarter of 2025. In connection with the Merger, Busey incurred one-time pre-tax acquisition-related expenses of $1.3 million and $1.5 million during the three and nine months months ended September 30, 2024, respectively. Merchants and Manufacturers Bank Corporation Effective April 1, 2024, Busey completed its previously announced acquisition of M&M, pursuant to which Busey acquired M&M and its wholly-owned subsidiary, M&M Bank, through a merger transaction. This partnership added M&M’s Life Equity Loan ® products to Busey’s existing suite of services and expands Busey’s presence in the suburban Chicago market. M&M’s results of operations were included in Busey’s results of operation beginning April 1, 2024. Merger of M&M Bank into Busey Bank Busey operated M&M Bank as a separate banking subsidiary of Busey until it was merged with Busey Bank on June 21, 2024. At the time of the bank merger, M&M Bank’s banking centers became banking centers of Busey Bank, except for M&M’s banking center located at 990 Essington Rd., Joliet, Illinois, which was closed in connection with the bank merger. Merger Consideration At the effective time of the Merger, each share of M&M common stock converted to the right to receive, at the election of each stockholder and subject to proration and adjustment as provided in the Merger Agreement, either (1) $117.74 in cash (“Cash Election”), (2) 5.7294 shares of Busey common stock (“Share Election”), or (3) mixed consideration of $34.55 in cash and 4.0481 shares of Busey common stock (“Mixed Election”). Most of the M&M common stockholders who submitted an election form by the election deadline made the Share Election to receive their Merger consideration solely in the form of shares of Busey common stock. As a result of the elections of M&M common stockholders, and in accordance with the proration and adjustment provisions of the Merger Agreement, the Merger consideration paid to M&M common stockholders was comprised of an aggregate of 1,429,304 shares of Busey common stock and an aggregate of $12.2 million in cash, allocated as follows for each share of M&M stock: (1) $117.74 in cash for the Cash Election, (2) $5.3966 in cash and 5.4668 shares of Busey common stock for the Share Election, and (3) $34.55 in cash and 4.0481 shares of Busey common stock for the Mixed Election. Pursuant to the terms of the Merger Agreement, M&M common stockholders that did not make an election or submit a properly completed election form by the election deadline of March 29, 2024, received cash consideration of $117.74 for each share of M&M common stock held. No fractional shares of Busey common stock were issued in the Merger. Fractional shares were paid in cash at the rate of $23.32 per share. Additional Merger consideration of $3.0 million was paid to redeem 300 shares of M&M preferred stock. Acquisition Accounting This transaction was accounted for using the acquisition method of accounting and, accordingly, assets acquired, liabilities assumed, and consideration exchanged were recorded at estimated fair values on April 1, 2024, the date of acquisition. Fair values, including initial accounting for deferred taxes, are subject to refinement for up to one year after the closing date as additional information regarding the closing date fair values becomes available. As the total consideration paid for M&M exceeded the estimated fair value of net assets acquired, goodwill of $15.6 million was recorded as a result of the acquisition. Goodwill recorded for this transaction reflects synergies expected from the acquisition and expansion within the Chicago metropolitan market, and was assigned to the Banking operating segment. None of the goodwill recognized in the M&M acquisition is expected to be tax deductible. Acquisition Date Fair Values Estimated acquisition-date fair values of the assets acquired and liabilities assumed, as well as the fair value of consideration transferred, were as follows (dollars in thousands) : April 1, 2024 Assets acquired Cash and cash equivalents $ 33,577 Securities 8,086 Portfolio loans, net of ACL 417,230 Right of use assets 253 Premises and equipment 2,045 Other intangible assets 6,346 Accrued interest receivable 4,992 Prepaid assets 185 Deferred tax assets 582 Accounts receivable 42 Mortgage servicing rights 55 Other assets 4,632 Total assets acquired 478,024 Liabilities assumed Deposits 392,838 Borrowings 43,887 Lease liabilities 253 Other liabilities 7,096 Total liabilities assumed 444,074 Net assets acquired $ 33,950 Consideration paid Cash $ 15,200 Common stock 34,375 Total consideration paid $ 49,575 Goodwill $ 15,625 Loans Purchased with Credit Deterioration A small portion of the acquired loans were PCD. The following table provides a reconciliation between the purchase price and the fair value of these loans (dollars in thousands) : As of April 1, 2024 PCD Financial Assets Gross contractual receivable for PCD financial assets $ 29,290 ACL recorded for estimated uncollectible contractual cash flows specific to PCD financial assets (1,243) Interest premium (discount) specific to PCD financial assets (1,773) Fair value of PCD financial assets $ 26,274 Other Acquisition Costs In connection with the M&M acquisition, Busey incurred $0.6 million and $2.9 million in pre-tax acquisition expenses during the three and nine months ended September 30, 2024, respectively, comprised primarily of salaries, wages and employee benefits; data processing; and professional fees, which are reported as components of noninterest expense on the accompanying Consolidated Statements of Income (Unaudited) .

DEBT SECURITIES

DEBT SECURITIES	9 Months Ended
	Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]
DEBT SECURITIES	NOTE 3. DEBT SECURITIES Busey's portfolio of debt securities includes both available for sale and held to maturity securities. The tables below provide the amortized cost, unrealized or unrecognized gains and losses, and fair values of debt securities summarized by major category (dollars in thousands) : As of September 30, 2024 Amortized Unrealized Fair Gross Gains Gross Losses Debt securities available for sale U.S. Treasury securities 1 $ 250 $ — $ — $ 250 Obligations of U.S. government corporations and agencies 2 1,515 — (7) 1,508 Obligations of states and political subdivisions 3 168,052 144 (13,144) 155,052 Asset-backed securities 3 405,280 92 — 405,372 Commercial mortgage-backed securities 106,543 228 (12,492) 94,279 Residential mortgage-backed securities 1,161,213 179 (159,225) 1,002,167 Corporate debt securities 166,818 118 (7,447) 159,489 Total debt securities available for sale $ 2,009,671 $ 761 $ (192,315) $ 1,818,117 Amortized Unrecognized Fair Gross Gains Gross Losses Debt securities held to maturity Commercial mortgage-backed securities $ 419,685 $ — $ (64,780) $ 354,905 Residential mortgage-backed securities 419,198 — (61,734) 357,464 Total debt securities held to maturity $ 838,883 $ — $ (126,514) $ 712,369 ___________________________________________ 1. Gross losses were insignificant, rounding to zero thousand. 2. Gross gains were insignificant, rounding to zero thousand. 3. Includes securities marked at par, with no gain or loss to report. 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. Maturities of Debt Securities 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 September 30, 2024 Amortized Fair Debt securities available for sale Due in one year or less $ 86,812 $ 85,513 Due after one year through five years 128,399 123,444 Due after five years through ten years 558,784 539,952 Due after ten years 1,235,676 1,069,208 Debt securities available for sale $ 2,009,671 $ 1,818,117 Debt securities held to maturity Due after one year through five years $ 83,464 $ 80,274 Due after five years through ten years 14,678 13,103 Due after ten years 740,741 618,992 Debt securities held to maturity $ 838,883 $ 712,369 Gains and Losses on Debt Securities Available for Sale Realized gains and losses related to sales and calls of debt securities available for sale are summarized as follows (dollars in thousands) : Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Realized gains and losses on debt securities Gross gains on debt securities $ — $ 10 $ 1 $ 20 Gross (losses) on debt securities 1 (11) (43) (6,818) (227) Realized net gains (losses) on debt securities $ (11) $ (33) $ (6,817) $ (207) ___________________________________________ 1. During the first quarter of 2024, Busey sold available-for-sale debt securities with a book value of approximately $108.2 million for a pre-tax loss of $6.8 million, as part of a balance sheet repositioning strategy. The loss on the sale of securities was offset by a pre-tax gain of $7.5 million realized on the sale of mortgage servicing rights on approximately $923.5 million of one- to four-family mortgage loans. Debt securities with carrying amounts of $906.8 million on September 30, 2024, and $837.4 million on December 31, 2023, were pledged as collateral for public deposits, securities sold under agreements to repurchase, and for other purposes as required. Debt Securities in an Unrealized or Unrecognized 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 September 30, 2024 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 $ — $ — $ 250 $ — $ 250 $ — Obligations of U.S. government corporations and agencies — — 1,425 (7) 1,425 (7) Obligations of states and political subdivisions 2,518 (97) 134,373 (13,047) 136,891 (13,144) Commercial mortgage-backed securities — — 89,272 (12,492) 89,272 (12,492) Residential mortgage-backed securities 877 (2) 993,631 (159,223) 994,508 (159,225) Corporate debt securities 784 (9) 150,295 (7,438) 151,079 (7,447) Debt securities available for sale with gross unrealized losses $ 4,179 $ (108) $ 1,369,246 $ (192,207) $ 1,373,425 $ (192,315) 12 months or more Total Fair Unrecognized Fair Unrecognized Debt securities held to maturity Commercial mortgage-backed securities $ 354,905 $ (64,780) $ 354,905 $ (64,780) Residential mortgage-backed securities 357,464 (61,734) 357,464 (61,734) Debt securities held to maturity with gross unrecognized losses $ 712,369 $ (126,514) $ 712,369 $ (126,514) ___________________________________________ 1. Gross losses were insignificant, rounding to zero thousand. 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) Additional information about debt securities in an unrealized or unrecognized loss position is presented in the tables below (dollars in thousands) : As of September 30, 2024 Available for Sale Held to Maturity Total Debt securities with gross unrealized or unrecognized losses, fair value $ 1,373,425 $ 712,369 $ 2,085,794 Gross unrealized or unrecognized losses on debt securities 192,315 126,514 318,829 Ratio of gross unrealized or unrecognized losses to debt securities with gross unrealized or unrecognized losses 14.0 % 17.8 % 15.3 % Count of debt securities 704 55 759 Count of debt securities in an unrealized or unrecognized loss position 572 55 627 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 Unrealized and unrecognized losses are 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 has been 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 September 30, 2024, Busey did not hold general obligation bonds of any single issuer, the aggregate of which exceeded 10% of Busey’s stockholders’ equity.

PORTFOLIO LOANS

PORTFOLIO LOANS	9 Months Ended
	Sep. 30, 2024
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
PORTFOLIO LOANS	NOTE 4. PORTFOLIO LOANS Loan Categories Busey’s lending can be summarized in two primary categories: commercial and retail. Loans within these categories are further classified by lending activity: C&I and other commercial, commercial real estate, real estate construction, retail real estate, and retail other. Distributions of the loan portfolio by loan category and activity is presented in the following table (dollars in thousands) : As of September 30, December 31, Commercial loans C&I and other commercial $ 1,877,497 $ 1,835,994 Commercial real estate 3,355,807 3,337,337 Real estate construction 397,977 461,717 Total commercial loans 5,631,281 5,635,048 Retail loans Retail real estate 1,708,771 1,720,455 Retail other 469,045 295,531 Total retail loans 2,177,816 2,015,986 Total portfolio loans 7,809,097 7,651,034 ACL (84,981) (91,740) Portfolio loans, net $ 7,724,116 $ 7,559,294 Net deferred loan origination costs included in the balances above were $12.0 million as of September 30, 2024, compared to $13.5 million as of December 31, 2023. Net accretable purchase accounting adjustments included in the balances above reduced loans by $9.7 million as of September 30, 2024, and $4.5 million as of December 31, 2023. Busey did not purchase any retail real estate loans during the three months ended September 30, 2024, and elected to purchase $6.9 million of retail real estate loans during the nine months ended September 30, 2024. Busey did not purchase any retail real estate loans during the corresponding periods of 2023. 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 September 30, December 31, Pledged loans FHLB $ 4,935,257 $ 4,865,481 Federal Reserve Bank 755,936 722,914 Total pledged loans $ 5,691,193 $ 5,588,395 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 of our portfolio loans, segregated by loan category and lending activity (dollars in thousands) : As of September 30, 2024 Pass Watch Special Substandard Substandard Total Commercial loans C&I and other commercial $ 1,535,598 $ 257,892 $ 38,374 $ 41,291 $ 4,342 $ 1,877,497 Commercial real estate 2,814,481 454,016 55,178 31,582 550 3,355,807 Real estate construction 356,722 27,637 8,368 5,250 — 397,977 Total commercial loans 4,706,801 739,545 101,920 78,123 4,892 5,631,281 Retail loans Retail real estate 1,692,828 9,378 872 2,581 3,112 1,708,771 Retail other 468,857 — — — 188 469,045 Total retail loans 2,161,685 9,378 872 2,581 3,300 2,177,816 Total portfolio loans $ 6,868,486 $ 748,923 $ 102,792 $ 80,704 $ 8,192 $ 7,809,097 As of December 31, 2023 Pass Watch Special Substandard Substandard Total Commercial loans C&I and other 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 Risk grades of portfolio loans and gross charge-offs are presented in the tables below by lending activity, further sorted by origination year (dollars in thousands) : As of and For The Nine Months Ended September 30, 2024 Term Loans Amortized Cost Basis by Origination Year Revolving Total Risk Grade Ratings 2024 2023 2022 2021 2020 Prior C&I and other commercial Pass $ 168,607 $ 223,091 $ 177,527 $ 135,226 $ 78,049 $ 132,258 $ 620,840 $ 1,535,598 Watch 36,362 34,787 48,383 18,543 2,021 28,452 89,344 257,892 Special Mention 1,574 2,431 6,417 2,897 315 2,648 22,092 38,374 Substandard 15,561 7,227 894 713 406 2,495 13,995 41,291 Substandard non-accrual 76 72 484 — 45 1,368 2,297 4,342 Total commercial 222,180 267,608 233,705 157,379 80,836 167,221 748,568 1,877,497 Gross charge-offs $ — $ 14,980 $ 128 $ 22 $ — $ 303 $ — $ 15,433 Commercial real estate Pass 211,288 373,175 819,235 651,901 370,205 365,236 23,441 2,814,481 Watch 97,909 142,283 54,179 93,691 28,618 36,417 919 454,016 Special Mention 27,889 1,435 8,085 1,796 8,958 7,007 8 55,178 Substandard 19,829 2,068 4,667 51 131 4,786 50 31,582 Substandard non-accrual — 40 — — 18 492 — 550 Total commercial real estate 356,915 519,001 886,166 747,439 407,930 413,938 24,418 3,355,807 Gross charge-offs — — — — — 315 — 315 Real estate construction Pass 156,726 120,079 14,450 54,133 2,344 1,192 7,798 356,722 Watch 1,686 6,471 — 19,480 — — — 27,637 Special Mention — 8,306 — 62 — — — 8,368 Substandard 5,250 — — — — — — 5,250 Substandard non-accrual — — — — — — — — Total real estate construction 163,662 134,856 14,450 73,675 2,344 1,192 7,798 397,977 Gross charge-offs — — — — — — — — Retail real estate Pass 66,952 244,309 374,402 363,006 150,835 283,136 210,188 1,692,828 Watch 804 634 2,780 3,419 891 130 720 9,378 Special Mention 150 — 347 — — 375 — 872 Substandard — 254 1,028 509 — 786 4 2,581 Substandard non-accrual — — 159 92 241 1,732 888 3,112 Total retail real estate 67,906 245,197 378,716 367,026 151,967 286,159 211,800 1,708,771 Gross charge-offs — — — — — 159 — 159 Retail other Pass 4,455 65,336 66,707 15,016 3,559 1,198 312,586 468,857 Watch — — — — — — — — Special Mention — — — — — — — — Substandard — — — — — — — — Substandard non-accrual — 110 67 — — 11 — 188 Total retail other 4,455 65,446 66,774 15,016 3,559 1,209 312,586 469,045 Gross charge-offs 7 30 88 72 4 302 — 503 Total portfolio loans $ 815,118 $ 1,232,108 $ 1,579,811 $ 1,360,535 $ 646,636 $ 869,719 $ 1,305,170 $ 7,809,097 Total gross charge-offs $ 7 $ 15,010 $ 216 $ 94 $ 4 $ 1,079 $ — $ 16,410 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 C&I and other 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 Gross 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 Gross 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 Gross 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 Gross 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 Gross 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 gross charge-offs $ 289 $ 76 $ 592 $ 34 $ 391 $ 3,036 $ — $ 4,418 Past Due and Non-accrual Loans An analysis of the amortized cost basis of portfolio loans that were past due and still accruing, or on a non-accrual status, is presented in the table below (dollars in thousands) : As of September 30, 2024 Loans past due, still accruing Non-accrual 30-59 Days 60-89 Days 90+Days Commercial loans C&I and other commercial $ 1,579 $ — $ — $ 4,342 Commercial real estate 1,286 10 — 550 Real estate construction 23 — — — Past due and non-accrual commercial loans 2,888 10 — 4,892 Retail loans Retail real estate 4,423 620 25 3,112 Retail other 2,120 80 — 188 Past due and non-accrual retail loans 6,543 700 25 3,300 Total past due and non-accrual loans $ 9,431 $ 710 $ 25 $ 8,192 As of December 31, 2023 Loans past due, still accruing Non-accrual 30-59 Days 60-89 Days 90+Days Commercial loans C&I and other 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 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 $0.1 million and $0.6 million for the three and nine months ended September 30, 2024, respectively, and was $0.2 million and $0.9 million for the three and nine months ended September 30, 2023, respectively. The amount of interest collected on those loans and recognized on a cash basis that was included in interest income was immaterial for the three and nine months ended September 30, 2024 and 2023. Loan Modifications for Borrowers Experiencing Financial Difficulty The following tables present the amortized cost basis of loans that were modified—specifically in the form of (1) principal forgiveness, (2) an interest rate reduction, (3) an other-than-insignificant payment deferral, and/or (4) a term extension—for borrowers experiencing financial difficulty during the periods indicated, disaggregated by lending activity and the type of modification (dollars in thousands) : Three Months Ended September 30, 2024 Payment Deferral % of Total Class of Financing Receivable 1 Term Extension 2 % of Total Class of Financing Receivable Modified Loans C&I and other commercial $ 325 — % $ 14,537 0.8 % Commercial real estate — — % 18,448 0.5 % Real estate construction — — % 5,250 1.3 % Total of loans modified during the period 3 $ 325 — % $ 38,235 0.5 % ___________________________________________ 1. Modified loans represent an insignificant portion of C&I and other commercial loans, rounding to zero percent. 2. Modifications to extend loan terms also included, in some cases, interest rate increases during the extension period. 3. All modifications were for loans classified as substandard. Three Months Ended September 30, 2023 Interest Rate Reduction 1 % of Total Class of Financing Receivable 2 Term Extension 3 % of Total Class of Financing Receivable 2 Modified Loans C&I and other commercial $ — — % $ 12,026 0.6 % Commercial real estate 880 — % 553 — % Total of loans modified during the period 4 $ 880 — % $ 12,579 0.2 % ___________________________________________ 1. For one loan, the default rate was removed once forbearance was entered. 2. Modified loans represented 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. All modifications were for loans classified as substandard. Nine Months Ended September 30, 2024 Payment Deferral 1 % of Total Class of Financing Receivable 2 Term Extension 1 % of Total Class of Financing Receivable Modified Loans C&I and other commercial $ 325 — % $ 28,073 1.5 % Commercial real estate — — % 19,782 0.6 % Real estate construction — — % 5,250 1.3 % Total of loans modified during the period 3 $ 325 — % $ 53,105 0.7 % ___________________________________________ 1. Modifications to extend loan terms also included, in some cases, interest rate increases during the extension period. 2. Modified loans represent an insignificant portion of C&I and other commercial loans, rounding to zero percent. 3. All modifications were for loans classified as substandard. Nine Months Ended September 30, 2023 Interest Rate Reduction 1 % of Total Class of Financing Receivable 2 Payment Deferral 3 % of Total Class of Financing Receivable 2 Term Extension 4 % of Total Class of Financing Receivable 2 Modified Loans C&I and other commercial $ — — % $ — — % $ 17,334 0.9 % Commercial real estate 880 — % 225 — % 1,003 — % Real estate construction — — % — — % 5,353 1.0 % Total of loans modified during the period 5 $ 880 — % $ 225 — % $ 23,690 0.3 % ___________________________________________ 1. For one loan, the default rate was removed once forbearance was entered. 2. Modified loans represented an insignificant portion of commercial real estate loans, rounding to zero percent. 3. A loan with payment deferral was modified to defer all principal payments until the end of the loan term, which was shortened. 4. Modifications to extend loan terms also included, in some cases, interest rate increases during the extension period. 5. Modifications included two loans on non-accrual status, and the remaining loans were classified as substandard. The following table summarizes loan modifications made during the periods indicated for borrowers experiencing financial difficulty: Three Months Ended September 30, 2024 2023 Weighted Average Term Extension Weighted Average Interest Rate Reduction Weighted Average Term Extension Loan Modifications C&I and other commercial 6.3 months — 15.3 months Commercial real estate 4.1 months 2.50 % 9.0 months Real estate construction 6.0 months — — Weighted average modifications 5.2 months 2.50 % 15.0 months Nine Months Ended September 30, 2024 2023 Weighted Average Term Extension Weighted Average Interest Rate Reduction Weighted Average Term Extension Loan Modifications C&I and other commercial 14.1 months — 14.3 months Commercial real estate 3.9 months 2.50 % 11.2 months Real estate construction 6.0 months — 12.0 months Weighted average modifications 9.5 months 2.50 % 13.7 months Performance of Modified Loans 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 during the last twelve months (dollars in thousands) : As of September 30, 2024 Current 30-89 Days 90+ Days Non-accrual Modified Loans C&I and other commercial $ 29,547 $ — $ — $ — Commercial real estate 20,082 — — — Real estate construction 5,250 — — — Amortized cost of modified loans $ 54,879 $ — $ — $ — No loans had a payment default during the three months ended September 30, 2023, or during the three or nine months ended September 30, 2024, after having been modified during the 12 months before that default for borrowers experiencing financial difficulty. The following table provides the amortized cost basis of loans that had a payment default during the nine months ended September 30, 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. Nine Months Ended September 30, 2023 2023 Payment Deferral Term Extension Loans with Subsequent Defaults C&I and other commercial $ — $ 500 Commercial real estate 225 — Amortized cost of modified loans with subsequent defaults $ 225 $ 500 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 operation or sale of 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 the underlying collateral, less estimated costs to sell. Busey had $5.2 million and $6.1 million of collateral dependent loans secured by real estate or business assets as of September 30, 2024, and December 31, 2023, respectively. Foreclosures As of September 30, 2024, Busey had $0.8 million of residential real estate loans in the process of foreclosure. Busey follows Federal Housing Finance Agency guidelines on single-family foreclosures and real estate owned evictions on portfolio loans. 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 loan category and lending activity. The unpaid principal balance represents customer outstanding contractual principal balances 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 September 30, 2024 Unpaid Recorded Investment Average With No With Total Related Loans evaluated individually Commercial loans C&I and other commercial $ 7,821 $ 1,758 $ 2,479 $ 4,237 $ 1,863 $ 5,379 Commercial real estate 516 492 — 492 — 1,163 Commercial loans evaluated individually 8,337 2,250 2,479 4,729 1,863 6,542 Retail loans Retail real estate — — — — — 67 Retail loans evaluated individually — — — — — 67 Total loans evaluated individually $ 8,337 $ 2,250 $ 2,479 $ 4,729 $ 1,863 $ 6,609 As of December 31, 2023 Unpaid Recorded Investment Average With No With Total Related Commercial loans C&I and other 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 Allowance for Credit Losses 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. The ACL is established through the provision for credit losses charged to income. Portfolio loans are charged off against the ACL when management believes the uncollectibility of a loan balance is confirmed. Recoveries are recognized up to the aggregate amount of previously charged-off balances. 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. The following tables summarize activity in the ACL attributable to each lending activity. Allocation of a portion of the ACL to one lending activity does not preclude its availability to absorb losses from other lending activities (dollars in thousands) : Three Months Ended September 30, 2024 C&I and Other Commercial Commercial Real Estate Retail Retail Other Total ACL balance, June 30, 2024 $ 20,286 $ 35,104 $ 3,722 $ 23,729 $ 2,385 $ 85,226 Provision for credit losses 715 (1,158) 39 120 286 2 Charged-off (202) (215) — (32) (225) (674) Recoveries 210 4 10 162 41 427 ACL balance, September 30, 2024 $ 21,009 $ 33,735 $ 3,771 $ 23,979 $ 2,487 $ 84,981 Nine Months Ended September 30, 2024 C&I and Other Commercial Commercial Real Estate Retail Retail Other Total ACL balance, December 31, 2023 $ 21,256 $ 35,465 $ 5,163 $ 26,298 $ 3,558 $ 91,740 Day 1 PCD 1 824 322 — 96 1 1,243 Provision for credit losses 13,958 (1,882) (1,449) (2,624) (686) 7,317 Charged-off (15,433) (315) — (159) (503) (16,410) Recoveries 404 145 57 368 117 1,091 ACL balance, September 30, 2024 $ 21,009 $ 33,735 $ 3,771 $ 23,979 $ 2,487 $ 84,981 ___________________________________________ 1. The Day 1 PCD is attributable to the M&M acquisition (see “ Note 2. Mergers and Acquisitions .”) Three Months Ended September 30, 2023 C&I and Other Commercial Commercial Real Estate Retail Retail Other Total ACL balance, June 30, 2023 $ 24,510 $ 33,656 $ 5,071 $ 24,675 $ 3,727 $ 91,639 Provision for credit losses (1,306) 745 104 674 147 364 Charged-off (758) (102) — (144) (111) (1,115) Recoveries 187 392 31 128 84 822 ACL balance, September 30, 2023 $ 22,633 $ 34,691 $ 5,206 $ 25,333 $ 3,847 $ 91,710 Nine Months Ended September 30, 2023 C&I and Other Commercial Commercial Real Estate Retail Retail Other Total ACL balance, December 31, 2022 $ 23,860 $ 38,299 $ 6,457 $ 18,193 $ 4,799 $ 91,608 Provision for credit losses 79 (3,006) (1,404) 6,975 (700) 1,944 Charged-off (1,733) (1,175) — (252) (483) (3,643) Recoveries 427 573 153 417 231 1,801 ACL balance, September 30, 2023 $ 22,633 $ 34,691 $ 5,206 $ 25,333 $ 3,847 $ 91,710 The following tables present the ACL and amortized cost of portfolio loans by loan category and lending activity (dollars in thousands) : As of September 30, 2024 Portfolio Loans ACL Attributed to Portfolio Loans Collectively Individually Total Collectively Individually Total Commercial loans C&I and other commercial $ 1,873,260 $ 4,237 $ 1,877,497 $ 19,146 $ 1,863 $ 21,009 Commercial real estate 3,355,315 492 3,355,807 33,735 — 33,735 Real estate construction 397,977 — 397,977 3,771 — 3,771 Commercial loans and related ACL 5,626,552 4,729 5,631,281 56,652 1,863 58,515 Retail loans Retail real estate 1,708,771 — 1,708,771 23,979 — 23,979 Retail other 469,045 — 469,045 2,487 — 2,487 Retail loans and related ACL 2,177,816 — 2,177,816 26,466 — 26,466 Portfolio loans and related ACL $ 7,804,368 $ 4,729 $ 7,809,097 $ 83,118 $ 1,863 $ 84,981 As of December 31, 2023 Portfolio Loans ACL Attributed to Portfolio Loans Collectively Individually Total Collectively Individually Total Commercial loans C&I and other 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

LEASES

LEASES	9 Months Ended
	Sep. 30, 2024
Leases [Abstract]
LEASES	NOTE 5. 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 balances that Busey reported on its Consolidated Balance Sheets (Unaudited) (dollars in thousands) and lease terms: As of September 30, December 31, Lease balances Right of use assets $ 11,100 $ 11,027 Lease liabilities 11,470 11,308 Lease terms Year through which lease terms extend 2037 2037 Weighted average remaining lease term 7.62 years 8.39 years Weighted average discount rate 3.74 % 3.59 % The following table presents lease costs, which are included in net occupancy and equipment expense in the Consolidated Statements of Income (Unaudited) , and lease-related cash flows (dollars in thousands) : Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Lease costs Operating lease costs $ 608 $ 615 $ 1,702 $ 1,836 Variable lease costs 15 9 43 27 Short-term lease costs 12 15 70 37 Total lease cost $ 635 $ 639 $ 1,815 $ 1,900 Cash flows related to leases Cash paid for amounts included in the measurement of lease liabilities: Operating lease cash flows – Fixed payments $ 568 $ 586 $ 1,605 $ 1,720 Operating lease cash flows – Liability reduction 466 483 1,310 1,423 Right of use assets obtained during the period in exchange for operating lease liabilities 1 469 199 1,478 208 ___________________________________________ 1. The nine months ended September 30, 2024, included $0.3 million right of use assets recognized during the second quarter of 2024 in connection with the acquisition of M&M (see “ Note 2. Mergers and Acquisitions ” ), and an additional $0.7 million recognized in the second quarter of 2024 in connection with a lease amendment that was executed subsequent to the acquisition for a lease that was obtained in the acquisition. 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 Remainder of 2024 $ 590 2025 2,088 2026 1,766 2027 1,549 2028 1,494 2029 1,503 Thereafter 4,303 Total undiscounted cash flows 13,293 Less: Amounts representing interest 1,823 Present value of net future minimum lease payments $ 11,470 Busey as the Lessor Busey leases office and parking spaces to outside parties. Revenues recorded in connection with these leases, reported in other income on our Consolidated Statements of Income (Unaudited) , are summarized as follows (dollars in thousands) : Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Rental income $ 206 $ 152 $ 612 $ 526 Noncancellable terms for these leases, all of which are operating leases, extend through 2028. Under the terms of these lease agreements, Busey is entitled to receive aggregate future minimum lease payments as shown in the table below (dollars in thousands) : As of Rents to be received Remainder of 2024 $ 207 2025 665 2026 503 2027 301 2028 185 Total lease payments from operating leases $ 1,861
LEASES	NOTE 5. 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 balances that Busey reported on its Consolidated Balance Sheets (Unaudited) (dollars in thousands) and lease terms: As of September 30, December 31, Lease balances Right of use assets $ 11,100 $ 11,027 Lease liabilities 11,470 11,308 Lease terms Year through which lease terms extend 2037 2037 Weighted average remaining lease term 7.62 years 8.39 years Weighted average discount rate 3.74 % 3.59 % The following table presents lease costs, which are included in net occupancy and equipment expense in the Consolidated Statements of Income (Unaudited) , and lease-related cash flows (dollars in thousands) : Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Lease costs Operating lease costs $ 608 $ 615 $ 1,702 $ 1,836 Variable lease costs 15 9 43 27 Short-term lease costs 12 15 70 37 Total lease cost $ 635 $ 639 $ 1,815 $ 1,900 Cash flows related to leases Cash paid for amounts included in the measurement of lease liabilities: Operating lease cash flows – Fixed payments $ 568 $ 586 $ 1,605 $ 1,720 Operating lease cash flows – Liability reduction 466 483 1,310 1,423 Right of use assets obtained during the period in exchange for operating lease liabilities 1 469 199 1,478 208 ___________________________________________ 1. The nine months ended September 30, 2024, included $0.3 million right of use assets recognized during the second quarter of 2024 in connection with the acquisition of M&M (see “ Note 2. Mergers and Acquisitions ” ), and an additional $0.7 million recognized in the second quarter of 2024 in connection with a lease amendment that was executed subsequent to the acquisition for a lease that was obtained in the acquisition. 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 Remainder of 2024 $ 590 2025 2,088 2026 1,766 2027 1,549 2028 1,494 2029 1,503 Thereafter 4,303 Total undiscounted cash flows 13,293 Less: Amounts representing interest 1,823 Present value of net future minimum lease payments $ 11,470 Busey as the Lessor Busey leases office and parking spaces to outside parties. Revenues recorded in connection with these leases, reported in other income on our Consolidated Statements of Income (Unaudited) , are summarized as follows (dollars in thousands) : Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Rental income $ 206 $ 152 $ 612 $ 526 Noncancellable terms for these leases, all of which are operating leases, extend through 2028. Under the terms of these lease agreements, Busey is entitled to receive aggregate future minimum lease payments as shown in the table below (dollars in thousands) : As of Rents to be received Remainder of 2024 $ 207 2025 665 2026 503 2027 301 2028 185 Total lease payments from operating leases $ 1,861

DEPOSITS

DEPOSITS	9 Months Ended
	Sep. 30, 2024
Deposits [Abstract]
DEPOSITS	NOTE 6. DEPOSITS The composition of Busey’s deposits is presented in the table below (dollars in thousands) : As of September 30, December 31, Deposits Noninterest-bearing demand deposits $ 2,683,543 $ 2,834,655 Interest-bearing transaction deposits 2,455,217 2,717,139 Saving deposits and money market deposits 3,284,556 2,920,088 Time deposits 1,519,925 1,819,274 Total deposits $ 9,943,241 $ 10,291,156 Additional information about Busey’s deposits follows (dollars in thousands) : As of September 30, December 31, Brokered savings deposits and money market deposits $ 6,001 $ 6,001 Brokered time deposits 7,088 285 Aggregate amount of time deposits with a minimum denomination of $100,000 873,754 1,072,189 Aggregate amount of time deposits with a minimum denomination that meets or exceeds the FDIC insurance limit of $250,000 338,808 386,286 Scheduled maturities of time deposits are as follows (dollars in thousands) : As of Time deposits by schedule of maturities Remainder of 2024 $ 547,111 2025 914,253 2026 30,592 2027 13,689 2028 8,715 2029 5,116 Thereafter 449 Time deposits $ 1,519,925

BORROWINGS

BORROWINGS	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
BORROWINGS	NOTE 7. 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 September 30, December 31, Securities sold under agreements to repurchase $ 128,429 $ 187,396 Weighted average rate for securities sold under agreements to repurchase 2.77 % 3.26 % Term Loan and Revolving Line of Credit 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 annual interest rate for the loans was established at 1.80% plus the one-month forward-looking term rate based on SOFR. The agreement has subsequently been amended twice to extend the termination date for the revolving line of credit, which is currently April 30, 2025. During the first quarter of 2024, Busey paid the full $30.0 million balance remaining on the Term Loan, at which time the Term Loan carried interest at a rate of 7.13%. As of September 30, 2024, there was no balance outstanding on the revolving credit facility. The revolving credit facility incurs an insignificant 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 and, when applicable, 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 September 30, December 31, Short-term borrowings Term Loan, current portion due within 12 months $ — $ 12,000 Total short-term debt $ — $ 12,000 Federal funds purchased are short-term borrowings that generally mature between one day and 90 days. During the first quarter of 2024, Busey purchased federal funds to test operational availability to access funds if needed. Busey had no federal funds purchased as of September 30, 2024, or December 31, 2023. 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 September 30, December 31, Long-term debt Term Loan $ — $ 18,000 Total long-term debt $ — $ 18,000 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. Interest on the subordinated notes is 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 (i) 5.000% per annum from the original issue date to, but excluding, June 15, 2027, payable semiannually in arrears, and (ii) a floating rate per annum equal to a benchmark rate, which is expected to be the Three-Month Term SOFR Associated with the M&M acquisition completed on April 1, 2024 (see “ Note 2. Mergers and Acquisitions ” ), Busey acquired $4.0 million of 5.25% fixed-to-floating rate subordinated notes maturing December 4, 2030, which qualify as Tier 2 capital for regulatory purposes. Interest on the subordinated notes accrues at a rate equal to (i) 5.25% per annum from the original issue date to December 4, 2025, and (ii) a floating rate per annum equal to a benchmark rate, which is expected to be the Three-Month Term SOFR Unamortized debt issuance costs related to Busey’s subordinated notes are presented in the following table (dollars in thousands) : As of September 30, December 31, Unamortized debt issuance costs Subordinated notes issued in 2020 $ 353 $ 735 Subordinated notes issued in 2022 1,101 1,383 Total unamortized debt issuance costs $ 1,454 $ 2,118

REGULATORY CAPITAL

REGULATORY CAPITAL	9 Months Ended
	Sep. 30, 2024
Banking and Thrift, Other Disclosure [Abstract]
REGULATORY CAPITAL	NOTE 8. REGULATORY CAPITAL First Busey and Busey 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 First 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 September 30, 2024, and December 31, 2023, all capital ratios of First Busey and Busey Bank exceeded well capitalized levels under the applicable regulatory capital adequacy guidelines. Management believes that no events or changes have occurred subsequent to September 30, 2024, 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 First 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, was 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 First Busey and Busey Bank (dollars in thousands) : As of September 30, 2024 Actual Minimum Minimum Amount Ratio Amount Ratio Amount Ratio Common equity Tier 1 capital to risk weighted assets First Busey $ 1,219,574 13.78 % $ 398,365 4.50 % $ 575,416 6.50 % Busey Bank $ 1,425,762 16.17 % $ 396,739 4.50 % $ 573,068 6.50 % Tier 1 capital to risk weighted assets First Busey $ 1,296,574 14.65 % $ 531,153 6.00 % $ 708,204 8.00 % Busey Bank $ 1,425,762 16.17 % $ 528,985 6.00 % $ 705,314 8.00 % Total capital to risk weighted assets First Busey $ 1,610,247 18.19 % $ 708,204 8.00 % $ 885,255 10.00 % Busey Bank $ 1,510,436 17.13 % $ 705,314 8.00 % $ 881,642 10.00 % Leverage ratio of Tier 1 capital to average assets First Busey $ 1,296,574 10.97 % $ 472,629 4.00 % N/A N/A Busey Bank $ 1,425,762 12.10 % $ 471,202 4.00 % $ 589,003 5.00 % 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 % 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%, which First Busey exceeded by 678 bps as of September 30, 2024, (2) Tier 1 capital to risk-weighted assets of at least 8.5%, which First Busey exceeded by 615 bps as of September 30, 2024, and (3) total capital to risk-weighted assets of at least 10.5%, which First Busey exceeded by 769 bps as of September 30, 2024.

TAX CREDIT AND OTHER INVESTMENT

TAX CREDIT AND OTHER INVESTMENTS IN UNCONSOLIDATED ENTITIES	9 Months Ended
	Sep. 30, 2024
Investments, All Other Investments [Abstract]
TAX CREDIT AND OTHER INVESTMENTS IN UNCONSOLIDATED ENTITIES	NOTE 9. TAX CREDIT AND OTHER INVESTMENTS IN UNCONSOLIDATED ENTITIES 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, environmental, and those that support the preservation of affordable housing. Busey’s investments in these unconsolidated entities and related unfunded investment obligations are reflected in other assets and other liabilities on the Consolidated Balance Sheets (Unaudited) , and are summarized in the table below for the periods indicated (dollars in thousands) : As of Location September 30, December 31, Investments in unconsolidated entities Funded investments Other assets $ 68,164 $ 68,516 Unfunded investments Other assets 68,200 58,552 Investments in unconsolidated entities $ 136,364 $ 127,068 Unfunded investment obligations Other liabilities $ 68,200 $ 58,552 Upon adoption of ASU 2023-02 on January 1, 2024, Busey elected to apply the proportional amortization method in accounting for investments in tax-advantaged projects. Estimated income tax credits and other tax benefits related to these investments, net of investment amortization, are included as a component of our estimated annual effective tax rate used for the calculation of income taxes presented on the Consolidated Statements of Income (Unaudited) . Actual amounts of income tax credits and other benefits, along with the investment amortization, are presented in the table below (dollars in thousands) : Three Months Ended September 30, 2024 Nine Months Ended September 30, 2024 Income tax credits and other tax benefits $ 4,040 $ 11,941 Amortization of investments in tax-advantaged projects 3,575 10,593

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	NOTE 10. STOCK-BASED COMPENSATION Stock Options Busey has outstanding stock options assumed from acquisitions. A summary of the status of, and changes in, the Company's stock option awards for the nine months ended September 30, 2024, follows: Options Shares Weighted- Weighted- Outstanding at December 31, 2023 21,266 $ 23.53 2.88 years Exercised (440) 23.53 Forfeited (3,520) 23.53 Outstanding at September 30, 2024 17,306 23.53 2.13 years Exercisable at September 30, 2024 17,306 23.53 2.13 years 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 . Busey has granted RSU, PSU, and DSU awards under the terms of the 2020 Equity Plan. Upon vesting and delivery, shares are expected, though not required, to be issued from treasury stock. There were 1,311,251 shares available for issuance under the 2020 Equity Plan as of September 30, 2024. A description of RSU, PSU, and DSU awards granted in 2024 under the terms of the 2020 Equity Plan is provided below. Further information related to awards granted in prior years has been presented in the Annual Reports previously filed with the SEC corresponding to the year of each award grant. 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 20, 2024, under the terms of the 2020 Equity Plan, Busey granted 189,179 RSUs to members of management. The grant date fair value of the award was $4.4 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. On May 22, 2024, under the terms of the 2020 Equity Plan, Busey granted 12,864 RSUs to members of management. The grant date fair value of the award was $0.3 million, which will be recognized as compensation expense over the requisite service period of three 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 nine months ended September 30, 2024, is as follows: RSU Awards Shares Weighted- Nonvested at December 31, 2023 1,041,444 $ 22.05 Granted 202,043 23.35 Dividend equivalents earned 32,239 24.92 Vested (172,822) 25.72 Forfeited (13,692) 23.28 Nonvested at September 30, 2024 1,089,212 21.77 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 20, 2024, under the terms of the 2020 Equity Plan, Busey granted a target of 94,604 PSUs with a maximum award of 151,366 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, 2026. On March 20, 2024, under the terms of the 2020 Equity Plan, Busey granted a target of 94,604 PSUs with a maximum award of 151,366 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 $2.2 million, which will be recognized in compensation expense over the performance period ending December 31, 2026. The actual amount of compensation expense recognized for these awards may vary, subject to achievement of the performance goal. A summary of changes in Busey’s PSU awards for the nine months ended September 30, 2024, is as follows: PSU Awards Shares 1 Weighted- Nonvested at December 31, 2023 341,700 $ 22.67 Granted 189,208 22.32 Dividend equivalents earned 2 4,264 22.95 Vested 2 (4,264) 22.95 Forfeited (6,306) 22.43 Nonvested at September 30, 2024 524,602 22.54 ___________________________________________ 1. Shares for PSU awards represent target shares at the grant date. 2. PSUs granted in 2021 vested on December 31, 2023, with performance determination and settlement activity in the first quarter of 2024. Final performance was determined to be at 50% of target. 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. Recipients earn quarterly dividend equivalents on their respective DSUs, which entitle the recipients to additional units. Therefore, dividends earned each quarter compound based upon the updated unit balances. After vesting and prior to delivery, DSUs will continue to earn dividend equivalents. On March 20, 2024, under the terms of the 2020 Equity Plan, Busey granted 35,847 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 nine months ended September 30, 2024, is as follows: DSU Awards Shares Weighted- Nonvested at December 31, 2023 43,026 $ 20.41 Granted 35,847 23.35 Dividend equivalents earned 6,032 25.02 Vested (47,351) 20.92 Forfeited (1,025) 20.44 Nonvested at September 30, 2024 36,529 23.39 Vested and outstanding at September 30, 2024 183,124 22.84 Employee Stock Purchase Plan The First Busey Corporation ESPP was approved at Busey’s 2021 Annual Meeting of Stockholders and details can be found in Appendix A within Busey’s Definitive Proxy Statement filed with the SEC on April 8, 2021 . The purpose of the 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. The ESPP initially reserved for issuance and purchase an aggregate of 600,000 shares of Busey’s common stock. The first offering under the ESPP began on July 1, 2021. There were 406,700 shares available for issuance under the ESPP as of September 30, 2024. Stock-based Compensation Expense Busey did not record any stock option compensation expense for the three or nine months ended September 30, 2024, or 2023. Busey did not have any unrecognized stock option compensation expense as of September 30, 2024. Busey recognized compensation expense related to non-vested RSU, PSU, and DSU awards, as well as the ESPP, as summarized in the table below (dollars in thousands) : Three Months Ended September 30, Nine Months Ended September 30, Location 2024 2023 2024 2023 Stock-based compensation expense RSU awards Salaries, wages, and employee benefits $ 1,057 $ 1,177 $ 3,012 $ 3,428 PSU awards 1 Salaries, wages, and employee benefits 976 1,180 2,037 2,724 DSU awards Other expense 211 213 615 620 ESPP Salaries, wages, and employee benefits 47 33 164 156 Total stock-based compensation expense $ 2,291 $ 2,603 $ 5,828 $ 6,928 ___________________________________________ 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 compensation expense related to nonvested RSU, PSU, and DSU awards is summarized in the table below (dollars in thousands) : As of September 30, December 31, Unamortized stock-based compensation RSU awards $ 8,267 $ 6,842 PSU awards 1 4,068 3,607 DSU awards 392 190 Total unamortized stock-based compensation $ 12,727 $ 10,639 Weighted average period over which expense is to be recognized 2.5 years 2.4 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.

OUTSTANDING COMMITMENTS AND CON

OUTSTANDING COMMITMENTS AND CONTINGENT LIABILITIES	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
OUTSTANDING COMMITMENTS AND CONTINGENT LIABILITIES	NOTE 11. 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 September 30, December 31, Financial instruments whose contract amounts represent credit risk Commitments to extend credit $ 2,503,727 $ 2,132,500 Standby letters of credit 36,612 43,996 Total commitments $ 2,540,339 $ 2,176,496 Franchise Tax Matter In 2021, Busey received an inquiry from the Illinois Secretary of State (“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 September 30, 2024. 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	9 Months Ended
	Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS	NOTE 12. 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 13: 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 September 30, December 31, Cash pledged to secure obligations under derivative contracts $ 17,270 $ 34,210 Collateral held to secure obligations under derivative contracts 9,380 19,280 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 $400.0 million as of September 30, 2024, and $350.0 million as of December 31, 2023, were designated as cash flow hedges. Busey entered into one $300.0 million receive-fixed, pay-floating interest rate swap to reduce Busey’s asset sensitivity (Prime Loan Swap). Duration was added to our loan portfolio by fixing a portion of 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. Further, in 2024 Busey entered into one $100.0 million one year forward-starting SOFR-based receive-fixed pay-floating interest rate swap, with an effective date of March 5, 2025, to reduce Busey’s asset sensitivity (SOFR Loan Swap). During the three months ended September 30, 2024, one interest rate swap to hedge the risks of variability in cash flows for future interest payments attributable to changes in the 3-month CME Term SOFR benchmark interest rate on Busey’s junior subordinated debt owed to unconsolidated trusts (Debt Swap) matured. Changes in the fair value of these interest rate swaps 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 Location September 30, December 31, Debt Swap Notional amount — $ 50,000 Weighted average rate: pay-fixed — 1.79 % Weighted average variable 3-month Fallback Rate (SOFR) receive rates — 5.61 % Weighted average maturity — 0.71 years Prime Loan Swap Notional amount $ 300,000 $ 300,000 Weighted average rate: receive-fixed 4.81 % 4.81 % Weighted average variable Prime pay rates 8.25 % 8.50 % Weighted average maturity 4.35 years 5.10 years SOFR Loan Swap Notional amount $ 100,000 $ — Weighted average rate: receive-fixed 3.72 % — Weighted average maturity 4.43 years — Gross aggregate fair value of the swaps Gross aggregate fair value of swap assets Other assets $ 2,332 $ 1,293 Gross aggregate fair value of swap liabilities Other liabilities 19,176 25,411 Balances carried in AOCI Unrealized gains (losses) on cash flow hedges, net of tax AOCI $ (11,487) $ (16,694) 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 September 30, 2024. As of Unrealized losses expected to be reclassified from OCI to interest income $ (859) Interest income and interest expense recorded on these swap transactions is presented in the following table (dollars in thousands) : Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Interest on swap transactions Increase (decrease) in interest income on swap transactions $ (2,776) $ (2,771) $ (8,366) $ (7,500) (Increase) decrease in interest expense on swap transactions 412 481 1,378 1,268 Net increase (decrease) in net interest income on swap transactions $ (2,364) $ (2,290) $ (6,988) $ (6,232) Net gains (losses) relating to cash flow derivative instruments that were recorded in OCI on the Consolidated Statements of Income (Unaudited) are presented in the table below (dollars in thousands) : Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Unrealized gains (losses) on cash flow hedges Net gain (loss) recognized in OCI, net of tax $ 7,439 $ (5,577) $ 211 $ (8,563) (Gain) loss reclassified from OCI to interest income, net of tax 1,984 1,982 5,981 5,362 (Gain) loss reclassified from OCI to interest expense, net of tax (294) (344) (985) (906) Net change in unrealized gains (losses) on cash flow hedges, net of tax $ 9,129 $ (3,939) $ 5,207 $ (4,107) Derivative Instruments Not Designated as Hedges 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 derivative agreements with third-party dealers. These contracts supported variable rate, commercial loan relationships totaling $711.2 million as of September 30, 2024, and $663.1 million as of December 31, 2023. 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 derivative liabilities related to customer interest rate swaps recorded on the Consolidated Balance Sheets (Unaudited) , are summarized as follows (dollars in thousands) : As of September 30, 2024 As of December 31, 2023 Location Notional Fair Notional Fair Derivative assets not designated as hedging instruments Interest rate swaps: receive-fixed, pay-floating Other assets $ 333,545 $ 6,730 $ 177,883 $ 2,375 Interest rate swaps: receive-floating, pay-fixed Other assets 377,609 18,648 485,253 26,289 Derivative assets not designated as hedging instruments $ 711,154 $ 25,378 $ 663,136 $ 28,664 Derivative liabilities not designated as hedging instruments Interest rate swaps: receive-fixed, pay-floating Other liabilities $ 377,609 $ 18,648 $ 485,253 $ 26,289 Interest rate swaps: receive-floating, pay-fixed Other liabilities 333,545 6,730 177,883 2,375 Derivative liabilities not designated as hedging instruments $ 711,154 $ 25,378 $ 663,136 $ 28,664 Changes in fair value of these derivative assets and liabilities are included in the Consolidate d Statements of Income ( U naudited) and are summarized as follows (dollars in thousands) : Three Months Ended September 30, Nine Months Ended September 30, Location 2024 2023 2024 2023 Interest rate swaps Receive-fixed, pay-floating Noninterest expense $ (9,224) $ 9,007 $ (3,050) $ 4,646 Receive-floating, pay-fixed Noninterest expense 9,224 (9,007) 3,050 (4,646) 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 credit risk participation, paying an up-front fee to a counterparty to accept a portion of its credit exposure, and will receive a payment from the counterparty if the swap customer defaults on its obligations. Busey also entered into a risk participation agreement under which Busey sold credit risk participation, receiving an up-front fee from a counterparty in exchange for accepting a portion of the counterparty’s credit exposure. This agreement matured on June 30, 2024. The swap customer did not default on its obligations, and Busey was not required to make a payment to the counterparty of the risk participation agreement. Notional amounts of the risk participation agreements reflect the participating banks’ pro-rata shares of the derivative instruments, consistent with their shares of the related participated loans. The risk participation agreements mature between August 2026 and January 2029, and are summarized as follows (dollars in thousands) : As of September 30, December 31, Risk participation agreements purchased Number of risk participation agreements 6 3 Notional amount $ 41,110 $ 34,251 Fair value 16 15 Risk participation agreements sold Number of risk participation agreements — 1 Notional amount — $ 20,001 Fair value — — 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 on the Consolidated Balance Sheets (Unaudited) , 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 on the Consolidated Balance Sheets (Unaudited) . 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 on the Consolidated Balance Sheets (Unaudited) are summarized as follows (dollars in thousands) : As of September 30, 2024 As of December 31, 2023 Location Notional Fair Notional Fair Mortgage banking derivative assets Interest rate lock commitments Other assets $ 4,666 $ 76 $ 3,477 $ 25 Forward sales commitments Other assets 3,887 9 1,761 11 Mortgage banking derivative assets $ 8,553 $ 85 $ 5,238 $ 36 Mortgage banking derivative liabilities Interest rate lock commitments Other liabilities $ 309 $ 2 $ 1,615 $ 10 Forward sales commitments Other liabilities 10,430 80 5,216 47 Mortgage banking derivative liabilities $ 10,739 $ 82 $ 6,831 $ 57 Gains and losses relating to these derivative instruments are reported in noninterest income, and are summarized as follows for the periods presented (dollars in thousands) : Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Net gains (losses) on mortgage banking derivatives Gains (losses) on interest rate lock commitments $ 121 $ (16) $ 569 $ (28) Gains (losses) on forward sales commitments (91) 60 (165) 92 Net gains (losses) on mortgage banking derivatives $ 30 $ 44 $ 404 $ 64

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	NOTE 13. 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, volatility, 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 estimating 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 estimates are based upon quoted market prices, when available. If such quoted market prices are not available, fair values are estimated utilizing independent valuation techniques that consider 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 their estimated fair values. 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 estimate the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date. Financial Assets and Financial 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, which is estimated using 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 to prepare evaluations, with a focus on observable market data such as benchmark curves, benchmarking of like securities, sector groupings, and matrix pricing. 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, which is estimated using Level 1 or Level 2 inputs. Fair value measurements of mutual funds, when held, are estimated using unadjusted quoted prices in active markets for identical assets at the measurement date and are classified as Level 1. Fair value measurements of stock use quoted prices for identical or similar assets in markets that are not active and are classified as Level 2. Derivative Assets and Derivative Liabilities Busey’s derivative assets and derivative liabilities are reported at fair value, which is measured using Level 2 or Level 3 inputs. Fair values of derivative assets and liabilities are estimated 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. 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 estimated fair value on a recurring basis (dollars in thousands) : As of September 30, 2024 Level 1 Level 2 Level 3 Total Debt securities available for sale: U.S. Treasury securities $ — $ 250 $ — $ 250 Obligations of U.S. government corporations and agencies — 1,508 — 1,508 Obligations of states and political subdivisions — 155,052 — 155,052 Asset-backed securities — 405,372 — 405,372 Commercial mortgage-backed securities — 94,279 — 94,279 Residential mortgage-backed securities — 1,002,167 — 1,002,167 Corporate debt securities — 159,489 — 159,489 Equity securities 40 10,275 — 10,315 Derivative assets — 27,795 16 27,811 Derivative liabilities — 44,636 — 44,636 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 Activity for risk participation agreements, which are financial assets measured at estimated fair value on a recurring basis using Level 3, is summarized in the tables below (dollars in thousands) : Three Months Ended September 30, Nine Months Ended September 30, Location 2024 2023 2024 2023 Beginning Balance $ 8 $ 15 $ 15 $ 5 Gains (losses) recognized in earnings Other expense (5) (8) (15) (68) Purchases 13 — 16 70 Ending Balance $ 16 $ 7 $ 16 $ 7 Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis Certain financial assets and financial liabilities are measured at estimated fair value on a non-recurring basis; that is, the instruments are not measured at estimated 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 estimated fair value on a recurring basis. However, periodically, a loan is evaluated individually and is reported at the estimated fair value of the underlying collateral, less estimated costs to sell, if repayment is expected solely from the collateral. If the estimated 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 estimated fair value less estimated costs to sell. Fair value estimates were based upon discounted appraisals or real estate listing prices. Due to the significance of unobservable inputs, estimated fair values of all bank property held for sale have been classified as Level 3. Bank property held for sale is included in premises and equipment, net on Busey’s Consolidated Balance Sheets (Unaudited) . The following tables summarize financial assets and financial liabilities measured at estimated fair value on a non-recurring basis (dollars in thousands) : As of September 30, 2024 Level 1 Level 2 Level 3 Total Loans evaluated individually, net of related allowance $ — $ — $ 616 $ 616 Bank property held for sale with impairment — — 3,205 3,205 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 The following table presents additional quantitative information about assets measured at estimated fair value on a non-recurring basis using Level 3 inputs (dollars in thousands) : As of September 30, 2024 Fair Value Valuation Unobservable Range Loans evaluated individually, net of related allowance $ 616 Appraisal of collateral Appraisal adjustments -25.0% to -100.0% (-75.2)% Bank property held for sale with impairment 3,205 Appraisal of collateral or real estate listing price Appraisal adjustments -9.0% to -76.7% (-50.6)% 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)% Financial Assets and Financial Liabilities That Are Not Carried at Fair Value Fair values of financial instruments that are not carried at fair value on Busey’s Consolidated Balance Sheets (Unaudited) were estimated as follows (dollars in thousands) : As of September 30, 2024 As of December 31, 2023 Carrying Fair Carrying Fair Financial assets Level 1 inputs: Cash and cash equivalents $ 553,709 $ 553,709 $ 719,581 $ 719,581 Level 2 inputs: Debt securities held to maturity 838,883 712,369 872,628 730,397 Loans held for sale 11,523 11,810 2,379 2,401 Accrued interest receivable 48,822 48,822 45,288 45,288 Level 3 inputs: Portfolio loans, net 7,724,116 7,597,736 7,559,294 7,276,905 Mortgage servicing rights 1,008 4,963 3,289 18,079 Other servicing rights 1,479 1,505 1,597 2,062 Financial liabilities Level 2 inputs: Time deposits $ 1,519,925 $ 1,511,069 $ 1,819,274 $ 1,804,905 Securities sold under agreements to repurchase 128,429 128,429 187,396 187,396 Short-term borrowings — — 12,000 12,034 Long-term debt — — 18,000 18,020 Junior subordinated debt owed to unconsolidated trusts 74,754 61,840 71,993 57,153 Accrued interest payable 33,447 33,447 28,418 28,418 Level 3 inputs: Subordinated notes, net of unamortized issuance costs 227,482 216,713 222,882 200,000

EARNINGS PER COMMON SHARE

EARNINGS PER COMMON SHARE	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
EARNINGS PER COMMON SHARE	NOTE 14. EARNINGS PER COMMON 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 ESPP shares were issued. Earnings per common share have been computed as follows (dollars in thousands, except per share amounts) : Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Net income $ 32,004 $ 30,666 $ 85,586 $ 96,816 Weighted average number of common shares outstanding, basic 57,033,359 55,486,700 56,458,430 55,441,980 Dilutive effect of common stock equivalents: Options 1,714 — 572 — Warrants — — — 432 RSU awards 655,224 640,714 662,609 638,495 PSU awards 254,365 165,868 264,451 126,787 DSU awards 16,766 16,792 18,390 14,996 ESPP 6,420 5,418 6,847 7,934 Weighted average number of common shares outstanding, diluted 57,967,848 56,315,492 57,411,299 56,230,624 Basic earnings per common share $ 0.56 $ 0.55 $ 1.52 $ 1.75 Diluted earnings per common share $ 0.55 $ 0.54 $ 1.49 $ 1.72 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: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Anti-dilutive common stock equivalents Options — 21,926 12,784 22,219 RSU awards — — 4,288 52,594 PSU awards 107,065 85,074 103,001 137,918 Total anti-dilutive common stock equivalents 107,065 107,000 120,073 212,731

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	9 Months Ended
	Sep. 30, 2024
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent, Alternative [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	NOTE 15. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following tables present changes in AOCI by component, net of tax, for the periods indicated (dollars in thousands) : Three Months Ended September 30, 2024 2023 Before Tax Tax Effect Net of Tax Before Tax Tax Effect Net of Tax Unrealized/Unrecognized gains (losses) on debt securities Balance at beginning of period $ (279,334) $ 79,624 $ (199,710) $ (335,359) $ 95,591 $ (239,768) Unrealized holding gains (losses) on debt securities available for sale, net 54,950 (15,664) 39,286 (37,696) 10,746 (26,950) Amounts reclassified from AOCI, net 11 (3) 8 33 (9) 24 Amortization of unrecognized losses on securities transferred to held to maturity 1,384 (394) 990 1,476 (420) 1,056 Balance at end of period $ (222,989) $ 63,563 $ (159,426) $ (371,546) $ 105,908 $ (265,638) Unrealized gains (losses) on cash flow hedges Balance at beginning of period $ (28,833) $ 8,217 $ (20,616) $ (29,586) $ 8,433 $ (21,153) Unrealized holding gains (losses) on cash flow hedges, net 10,404 (2,965) 7,439 (7,797) 2,220 (5,577) Amounts reclassified from AOCI, net 2,364 (674) 1,690 2,290 (652) 1,638 Balance at end of period $ (16,065) $ 4,578 $ (11,487) $ (35,093) $ 10,001 $ (25,092) Total AOCI $ (239,054) $ 68,141 $ (170,913) $ (406,639) $ 115,909 $ (290,730) Nine Months Ended September 30, 2024 2023 Before Tax Tax Effect Net of Tax Before Tax Tax Effect Net of Tax Unrealized/Unrecognized gains (losses) on debt securities Balance at beginning of period $ (282,688) $ 80,579 $ (202,109) $ (352,878) $ 100,585 $ (252,293) Unrealized holding gains (losses) on debt securities available for sale, net 48,688 (13,878) 34,810 (23,600) 6,728 (16,872) Amounts reclassified from AOCI, net 6,817 (1,943) 4,874 207 (59) 148 Amortization of unrecognized losses on securities transferred to held to maturity 4,194 (1,195) 2,999 4,725 (1,346) 3,379 Balance at end of period $ (222,989) $ 63,563 $ (159,426) $ (371,546) $ 105,908 $ (265,638) Unrealized gains (losses) on cash flow hedges Balance at beginning of period $ (23,348) $ 6,654 $ (16,694) $ (29,350) $ 8,365 $ (20,985) Unrealized holding gains (losses) on cash flow hedges, net 295 (84) 211 (11,975) 3,412 (8,563) Amounts reclassified from AOCI, net 6,988 (1,992) 4,996 6,232 (1,776) 4,456 Balance at end of period $ (16,065) $ 4,578 $ (11,487) $ (35,093) $ 10,001 $ (25,092) Total AOCI $ (239,054) $ 68,141 $ (170,913) $ (406,639) $ 115,909 $ (290,730)

OPERATING SEGMENTS AND RELATED

OPERATING SEGMENTS AND RELATED INFORMATION	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
OPERATING SEGMENTS AND RELATED INFORMATION	NOTE 16. 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 62 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; merchant services referral solutions serving partner Financial Institutions and their business customers; 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 ” of Busey’s 2023 Annual Report . Busey accounts for intersegment revenue and transfers at current market value. 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, Inc. until its dissolution on December 18, 2023, and the elimination of intercompany transactions (dollars in thousands) : Goodwill Total Assets As of As of September 30, December 31, September 30, December 31, Operating segment Banking $ 310,398 $ 294,773 $ 11,806,647 $ 12,125,298 Wealth Management 14,108 14,108 119,801 103,147 FirsTech 8,992 8,992 51,474 51,600 Other — — 8,917 3,370 Consolidated total $ 333,498 $ 317,873 $ 11,986,839 $ 12,283,415 Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Net interest income Banking $ 86,425 $ 81,794 $ 252,200 $ 254,394 FirsTech 12 14 37 41 Other (3,896) (4,017) (11,495) (12,117) Net interest income $ 82,541 $ 77,791 $ 240,742 $ 242,318 Noninterest income Banking $ 14,056 $ 11,983 $ 39,962 $ 34,716 Wealth Management 16,169 14,350 47,989 43,993 FirsTech 5,551 5,665 17,700 16,954 Other 175 (990) (899) (4,795) Total noninterest income $ 35,951 $ 31,008 $ 104,752 $ 90,868 Noninterest expense Banking $ 56,740 $ 55,172 $ 167,724 $ 163,314 Wealth Management 8,777 8,059 26,704 24,821 FirsTech 5,648 5,245 17,666 16,303 Other 4,761 2,469 10,138 6,115 Total noninterest expense $ 75,926 $ 70,945 $ 222,232 $ 210,553 Income before income taxes Banking $ 43,739 $ 38,241 $ 117,121 $ 123,852 Wealth Management 7,392 6,291 21,285 19,172 FirsTech (85) 434 71 692 Other (8,482) (7,476) (22,532) (23,027) Income before income taxes $ 42,564 $ 37,490 $ 115,945 $ 120,689 Net income Banking $ 33,221 $ 31,189 $ 86,410 $ 98,689 Wealth Management 5,618 4,781 16,177 14,571 FirsTech (61) 317 53 505 Other (6,774) (5,621) (17,054) (16,949) Net income $ 32,004 $ 30,666 $ 85,586 $ 96,816

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net income	$ 32,004	$ 30,666	$ 85,586	$ 96,816

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2024
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)	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Nature of Operations	Nature of Operations First Busey Corporation, a Nevada corporation organized in 1980, is an $11.99 billion financial holding company headquartered in Champaign, Illinois. Busey’s common stock is traded on The Nasdaq Global Select Market under the symbol “BUSE.” Busey operates and reports its business in three segments: Banking, Wealth Management, and FirsTech. • The Banking operating segment provides a full range of banking services to individual and corporate customers through its banking center network in Illinois; the St. Louis, Missouri metropolitan area; southwest Florida; and Indianapolis, Indiana. • 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. • The FirsTech operating segment provides comprehensive and innovative payment technology solutions including online, mobile, and voice-recognition bill payments; money management and credit card networks; direct debit services; lockbox remittance processing for payments made by mail; and walk-in payments. FirsTech also provides additional tools to help clients with billing, reconciliation, bill reminders, and treasury services. For additional information about First Busey's operating segments, see “ Note 16. Operating Segments and Related Information .”
Basis of Financial Statement Presentation	Basis of Financial Statement Presentation These unaudited consolidated financial statements and related notes should be read in conjunction with the audited consolidated financial statements included in Busey's 2023 Annual Report . These interim unaudited consolidated financial statements serve to update our 2023 Annual Report and may not include all information and notes necessary to constitute a complete set of financial statements. We prepared these unaudited consolidated financial statements in conformity with GAAP. We have eliminated intercompany accounts and transactions. We have also reclassified certain prior year amounts to conform to the current period presentation. These reclassifications did not have a material impact on our consolidated financial condition or results of operations. In our opinion, the unaudited consolidated financial statements reflect all normal, recurring adjustments needed to present fairly our results for the interim periods. The results of operations for interim periods are not necessarily indicative of the results that may be expected for the full year or any other interim period.
Use of Estimates	Use of Estimates In preparing the accompanying unaudited consolidated financial statements in conformity with GAAP, Busey’s management is required to make estimates and assumptions that affect the amounts reported in the 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.
Income Taxes	Income Taxes During the nine months ended September 30, 2024, Busey recorded an estimated one-time deferred tax valuation adjustment of $1.4 million resulting from a change to our Illinois apportionment rate due to recently enacted regulations. These new regulations are expected to lower our ongoing tax obligation in future periods, but create a negative adjustment to the carrying value of our deferred tax asset in the current year. As of September 30, 2024, Busey Bank is under examination by the Florida Department of Revenue for its 2020 to 2022 corporate income tax filings.
Impact of Recently Adopted Accounting Standards and Recently Issued Accounting Standards Not Yet Adopted	Impact of Recently Adopted Accounting Standards 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. Busey adopted this standard on a modified retrospective basis on January 1, 2024. Upon adoption, Busey recorded an after-tax decrease to retained earnings of $1.4 million 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. Busey adopted this standard on a prospective basis on January 1, 2024. Adoption of this standard did not have a material impact on Busey’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. Busey adopted this standard on a prospective basis on January 1, 2024. Adoption of this standard did not have a material impact on Busey’s financial position or results of operations. Recently Issued Accounting Standards Not Yet Adopted In March 2024, the FASB issued ASU 2024-01 “Compensation-Stock Compensation (Topic 718): Scope Application of Profits Interest and Similar Awards” to clarify that certain “profits interests” are within the scope of Topic 718 by amending the language and providing illustrative examples on how the scope guidance in paragraph 718-10-15-3 should be applied. This update is intended to improve clarity of the accounting standards codification, not to change the guidance. This update may be applied on a retrospective or prospective basis and will be effective for Busey for annual and interim periods beginning January 1, 2025. Early adoption is permitted. Busey is currently evaluating the potential effects of adoption of this ASU on its financial position and results of operations. 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 reporting periods beginning with the fiscal year ending December 31, 2025. Busey does not expect adoption of this standard to have a material impact on its 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 for annual reporting periods beginning with the fiscal year ending December 31, 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 ASU 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 its 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 unaudited consolidated financial statements included in this Quarterly Report were issued. There were no significant events subsequent to the quarter ended September 30, 2024, through the filing date of these unaudited consolidated financial statements.
Fair Value Measurements	NOTE 13. 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, volatility, 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 estimating 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 estimates are based upon quoted market prices, when available. If such quoted market prices are not available, fair values are estimated utilizing independent valuation techniques that consider 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 their estimated fair values. 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 estimate the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date. Financial Assets and Financial 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, which is estimated using 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 to prepare evaluations, with a focus on observable market data such as benchmark curves, benchmarking of like securities, sector groupings, and matrix pricing. 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, which is estimated using Level 1 or Level 2 inputs. Fair value measurements of mutual funds, when held, are estimated using unadjusted quoted prices in active markets for identical assets at the measurement date and are classified as Level 1. Fair value measurements of stock use quoted prices for identical or similar assets in markets that are not active and are classified as Level 2. Derivative Assets and Derivative Liabilities Busey’s derivative assets and derivative liabilities are reported at fair value, which is measured using Level 2 or Level 3 inputs. Fair values of derivative assets and liabilities are estimated 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. Due to the significance of unobservable inputs, derivative assets related to our risk participation agreements are classified as Level 3. Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis Certain financial assets and financial liabilities are measured at estimated fair value on a non-recurring basis; that is, the instruments are not measured at estimated 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 estimated fair value on a recurring basis. However, periodically, a loan is evaluated individually and is reported at the estimated fair value of the underlying collateral, less estimated costs to sell, if repayment is expected solely from the collateral. If the estimated 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.

MERGERS AND ACQUISITIONS (Table

MERGERS AND ACQUISITIONS (Tables)	9 Months Ended
	Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule of Estimated Acquisition-Date Fair Values of the Assets Acquired and Liabilities Assumed	Estimated acquisition-date fair values of the assets acquired and liabilities assumed, as well as the fair value of consideration transferred, were as follows (dollars in thousands) : April 1, 2024 Assets acquired Cash and cash equivalents $ 33,577 Securities 8,086 Portfolio loans, net of ACL 417,230 Right of use assets 253 Premises and equipment 2,045 Other intangible assets 6,346 Accrued interest receivable 4,992 Prepaid assets 185 Deferred tax assets 582 Accounts receivable 42 Mortgage servicing rights 55 Other assets 4,632 Total assets acquired 478,024 Liabilities assumed Deposits 392,838 Borrowings 43,887 Lease liabilities 253 Other liabilities 7,096 Total liabilities assumed 444,074 Net assets acquired $ 33,950 Consideration paid Cash $ 15,200 Common stock 34,375 Total consideration paid $ 49,575 Goodwill $ 15,625
Schedule of Reconciliation Between the Purchase Price and the Fair Value	The following table provides a reconciliation between the purchase price and the fair value of these loans (dollars in thousands) : As of April 1, 2024 PCD Financial Assets Gross contractual receivable for PCD financial assets $ 29,290 ACL recorded for estimated uncollectible contractual cash flows specific to PCD financial assets (1,243) Interest premium (discount) specific to PCD financial assets (1,773) Fair value of PCD financial assets $ 26,274

DEBT SECURITIES (Tables)

DEBT SECURITIES (Tables)	9 Months Ended
	Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]
Schedule of Amortized Cost, Unrealized or Unrecognized Gains and Losses and Fair Values of Securities Classified Available for Sale and Held to Maturity	The tables below provide the amortized cost, unrealized or unrecognized gains and losses, and fair values of debt securities summarized by major category (dollars in thousands) : As of September 30, 2024 Amortized Unrealized Fair Gross Gains Gross Losses Debt securities available for sale U.S. Treasury securities 1 $ 250 $ — $ — $ 250 Obligations of U.S. government corporations and agencies 2 1,515 — (7) 1,508 Obligations of states and political subdivisions 3 168,052 144 (13,144) 155,052 Asset-backed securities 3 405,280 92 — 405,372 Commercial mortgage-backed securities 106,543 228 (12,492) 94,279 Residential mortgage-backed securities 1,161,213 179 (159,225) 1,002,167 Corporate debt securities 166,818 118 (7,447) 159,489 Total debt securities available for sale $ 2,009,671 $ 761 $ (192,315) $ 1,818,117 Amortized Unrecognized Fair Gross Gains Gross Losses Debt securities held to maturity Commercial mortgage-backed securities $ 419,685 $ — $ (64,780) $ 354,905 Residential mortgage-backed securities 419,198 — (61,734) 357,464 Total debt securities held to maturity $ 838,883 $ — $ (126,514) $ 712,369 ___________________________________________ 1. Gross losses were insignificant, rounding to zero thousand. 2. Gross gains were insignificant, rounding to zero thousand. 3. Includes securities marked at par, with no gain or loss to report. 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.
Schedule of Maturities Of Debt Securities	All mortgage-backed securities were issued by U.S. government corporations and agencies (dollars in thousands) : As of September 30, 2024 Amortized Fair Debt securities available for sale Due in one year or less $ 86,812 $ 85,513 Due after one year through five years 128,399 123,444 Due after five years through ten years 558,784 539,952 Due after ten years 1,235,676 1,069,208 Debt securities available for sale $ 2,009,671 $ 1,818,117 Debt securities held to maturity Due after one year through five years $ 83,464 $ 80,274 Due after five years through ten years 14,678 13,103 Due after ten years 740,741 618,992 Debt securities held to maturity $ 838,883 $ 712,369
Schedule of Gains and Losses on Debt Securities Available for Sale	Realized gains and losses related to sales and calls of debt securities available for sale are summarized as follows (dollars in thousands) : Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Realized gains and losses on debt securities Gross gains on debt securities $ — $ 10 $ 1 $ 20 Gross (losses) on debt securities 1 (11) (43) (6,818) (227) Realized net gains (losses) on debt securities $ (11) $ (33) $ (6,817) $ (207) ___________________________________________ 1. During the first quarter of 2024, Busey sold available-for-sale debt securities with a book value of approximately $108.2 million for a pre-tax loss of $6.8 million, as part of a balance sheet repositioning strategy. The loss on the sale of securities was offset by a pre-tax gain of $7.5 million realized on the sale of mortgage servicing rights on approximately $923.5 million of one- to four-family mortgage loans.
Schedule of Debt Securities in an Unrealized or Unrecognized 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 September 30, 2024 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 $ — $ — $ 250 $ — $ 250 $ — Obligations of U.S. government corporations and agencies — — 1,425 (7) 1,425 (7) Obligations of states and political subdivisions 2,518 (97) 134,373 (13,047) 136,891 (13,144) Commercial mortgage-backed securities — — 89,272 (12,492) 89,272 (12,492) Residential mortgage-backed securities 877 (2) 993,631 (159,223) 994,508 (159,225) Corporate debt securities 784 (9) 150,295 (7,438) 151,079 (7,447) Debt securities available for sale with gross unrealized losses $ 4,179 $ (108) $ 1,369,246 $ (192,207) $ 1,373,425 $ (192,315) 12 months or more Total Fair Unrecognized Fair Unrecognized Debt securities held to maturity Commercial mortgage-backed securities $ 354,905 $ (64,780) $ 354,905 $ (64,780) Residential mortgage-backed securities 357,464 (61,734) 357,464 (61,734) Debt securities held to maturity with gross unrecognized losses $ 712,369 $ (126,514) $ 712,369 $ (126,514) ___________________________________________ 1. Gross losses were insignificant, rounding to zero thousand. 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) Additional information about debt securities in an unrealized or unrecognized loss position is presented in the tables below (dollars in thousands) : As of September 30, 2024 Available for Sale Held to Maturity Total Debt securities with gross unrealized or unrecognized losses, fair value $ 1,373,425 $ 712,369 $ 2,085,794 Gross unrealized or unrecognized losses on debt securities 192,315 126,514 318,829 Ratio of gross unrealized or unrecognized losses to debt securities with gross unrealized or unrecognized losses 14.0 % 17.8 % 15.3 % Count of debt securities 704 55 759 Count of debt securities in an unrealized or unrecognized loss position 572 55 627 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

PORTFOLIO LOANS (Tables)

PORTFOLIO LOANS (Tables)	9 Months Ended
	Sep. 30, 2024
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 activity is presented in the following table (dollars in thousands) : As of September 30, December 31, Commercial loans C&I and other commercial $ 1,877,497 $ 1,835,994 Commercial real estate 3,355,807 3,337,337 Real estate construction 397,977 461,717 Total commercial loans 5,631,281 5,635,048 Retail loans Retail real estate 1,708,771 1,720,455 Retail other 469,045 295,531 Total retail loans 2,177,816 2,015,986 Total portfolio loans 7,809,097 7,651,034 ACL (84,981) (91,740) Portfolio loans, net $ 7,724,116 $ 7,559,294
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 September 30, December 31, Pledged loans FHLB $ 4,935,257 $ 4,865,481 Federal Reserve Bank 755,936 722,914 Total pledged loans $ 5,691,193 $ 5,588,395 To secure its obligations under derivative contracts, Busey pledged cash and held collateral as follows (dollars in thousands) : As of September 30, December 31, Cash pledged to secure obligations under derivative contracts $ 17,270 $ 34,210 Collateral held to secure obligations under derivative contracts 9,380 19,280
Schedule of Risk Grades Segregated by Category and Class of Portfolio Loans	The following table is a summary of risk grades of our portfolio loans, segregated by loan category and lending activity (dollars in thousands) : As of September 30, 2024 Pass Watch Special Substandard Substandard Total Commercial loans C&I and other commercial $ 1,535,598 $ 257,892 $ 38,374 $ 41,291 $ 4,342 $ 1,877,497 Commercial real estate 2,814,481 454,016 55,178 31,582 550 3,355,807 Real estate construction 356,722 27,637 8,368 5,250 — 397,977 Total commercial loans 4,706,801 739,545 101,920 78,123 4,892 5,631,281 Retail loans Retail real estate 1,692,828 9,378 872 2,581 3,112 1,708,771 Retail other 468,857 — — — 188 469,045 Total retail loans 2,161,685 9,378 872 2,581 3,300 2,177,816 Total portfolio loans $ 6,868,486 $ 748,923 $ 102,792 $ 80,704 $ 8,192 $ 7,809,097 As of December 31, 2023 Pass Watch Special Substandard Substandard Total Commercial loans C&I and other 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
Schedule of Risk Grades of Portfolio Loans, Further Sorted by Origination	Risk grades of portfolio loans and gross charge-offs are presented in the tables below by lending activity, further sorted by origination year (dollars in thousands) : As of and For The Nine Months Ended September 30, 2024 Term Loans Amortized Cost Basis by Origination Year Revolving Total Risk Grade Ratings 2024 2023 2022 2021 2020 Prior C&I and other commercial Pass $ 168,607 $ 223,091 $ 177,527 $ 135,226 $ 78,049 $ 132,258 $ 620,840 $ 1,535,598 Watch 36,362 34,787 48,383 18,543 2,021 28,452 89,344 257,892 Special Mention 1,574 2,431 6,417 2,897 315 2,648 22,092 38,374 Substandard 15,561 7,227 894 713 406 2,495 13,995 41,291 Substandard non-accrual 76 72 484 — 45 1,368 2,297 4,342 Total commercial 222,180 267,608 233,705 157,379 80,836 167,221 748,568 1,877,497 Gross charge-offs $ — $ 14,980 $ 128 $ 22 $ — $ 303 $ — $ 15,433 Commercial real estate Pass 211,288 373,175 819,235 651,901 370,205 365,236 23,441 2,814,481 Watch 97,909 142,283 54,179 93,691 28,618 36,417 919 454,016 Special Mention 27,889 1,435 8,085 1,796 8,958 7,007 8 55,178 Substandard 19,829 2,068 4,667 51 131 4,786 50 31,582 Substandard non-accrual — 40 — — 18 492 — 550 Total commercial real estate 356,915 519,001 886,166 747,439 407,930 413,938 24,418 3,355,807 Gross charge-offs — — — — — 315 — 315 Real estate construction Pass 156,726 120,079 14,450 54,133 2,344 1,192 7,798 356,722 Watch 1,686 6,471 — 19,480 — — — 27,637 Special Mention — 8,306 — 62 — — — 8,368 Substandard 5,250 — — — — — — 5,250 Substandard non-accrual — — — — — — — — Total real estate construction 163,662 134,856 14,450 73,675 2,344 1,192 7,798 397,977 Gross charge-offs — — — — — — — — Retail real estate Pass 66,952 244,309 374,402 363,006 150,835 283,136 210,188 1,692,828 Watch 804 634 2,780 3,419 891 130 720 9,378 Special Mention 150 — 347 — — 375 — 872 Substandard — 254 1,028 509 — 786 4 2,581 Substandard non-accrual — — 159 92 241 1,732 888 3,112 Total retail real estate 67,906 245,197 378,716 367,026 151,967 286,159 211,800 1,708,771 Gross charge-offs — — — — — 159 — 159 Retail other Pass 4,455 65,336 66,707 15,016 3,559 1,198 312,586 468,857 Watch — — — — — — — — Special Mention — — — — — — — — Substandard — — — — — — — — Substandard non-accrual — 110 67 — — 11 — 188 Total retail other 4,455 65,446 66,774 15,016 3,559 1,209 312,586 469,045 Gross charge-offs 7 30 88 72 4 302 — 503 Total portfolio loans $ 815,118 $ 1,232,108 $ 1,579,811 $ 1,360,535 $ 646,636 $ 869,719 $ 1,305,170 $ 7,809,097 Total gross charge-offs $ 7 $ 15,010 $ 216 $ 94 $ 4 $ 1,079 $ — $ 16,410 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 C&I and other 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 Gross 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 Gross 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 Gross 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 Gross 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 Gross 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 gross charge-offs $ 289 $ 76 $ 592 $ 34 $ 391 $ 3,036 $ — $ 4,418
Schedule of Past Due and Non-accrual Loans	An analysis of the amortized cost basis of portfolio loans that were past due and still accruing, or on a non-accrual status, is presented in the table below (dollars in thousands) : As of September 30, 2024 Loans past due, still accruing Non-accrual 30-59 Days 60-89 Days 90+Days Commercial loans C&I and other commercial $ 1,579 $ — $ — $ 4,342 Commercial real estate 1,286 10 — 550 Real estate construction 23 — — — Past due and non-accrual commercial loans 2,888 10 — 4,892 Retail loans Retail real estate 4,423 620 25 3,112 Retail other 2,120 80 — 188 Past due and non-accrual retail loans 6,543 700 25 3,300 Total past due and non-accrual loans $ 9,431 $ 710 $ 25 $ 8,192 As of December 31, 2023 Loans past due, still accruing Non-accrual 30-59 Days 60-89 Days 90+Days Commercial loans C&I and other 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
Schedule of Loan Modifications for Borrowers Experiencing Financial Difficulty	The following tables present the amortized cost basis of loans that were modified—specifically in the form of (1) principal forgiveness, (2) an interest rate reduction, (3) an other-than-insignificant payment deferral, and/or (4) a term extension—for borrowers experiencing financial difficulty during the periods indicated, disaggregated by lending activity and the type of modification (dollars in thousands) : Three Months Ended September 30, 2024 Payment Deferral % of Total Class of Financing Receivable 1 Term Extension 2 % of Total Class of Financing Receivable Modified Loans C&I and other commercial $ 325 — % $ 14,537 0.8 % Commercial real estate — — % 18,448 0.5 % Real estate construction — — % 5,250 1.3 % Total of loans modified during the period 3 $ 325 — % $ 38,235 0.5 % ___________________________________________ 1. Modified loans represent an insignificant portion of C&I and other commercial loans, rounding to zero percent. 2. Modifications to extend loan terms also included, in some cases, interest rate increases during the extension period. 3. All modifications were for loans classified as substandard. Three Months Ended September 30, 2023 Interest Rate Reduction 1 % of Total Class of Financing Receivable 2 Term Extension 3 % of Total Class of Financing Receivable 2 Modified Loans C&I and other commercial $ — — % $ 12,026 0.6 % Commercial real estate 880 — % 553 — % Total of loans modified during the period 4 $ 880 — % $ 12,579 0.2 % ___________________________________________ 1. For one loan, the default rate was removed once forbearance was entered. 2. Modified loans represented 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. All modifications were for loans classified as substandard. Nine Months Ended September 30, 2024 Payment Deferral 1 % of Total Class of Financing Receivable 2 Term Extension 1 % of Total Class of Financing Receivable Modified Loans C&I and other commercial $ 325 — % $ 28,073 1.5 % Commercial real estate — — % 19,782 0.6 % Real estate construction — — % 5,250 1.3 % Total of loans modified during the period 3 $ 325 — % $ 53,105 0.7 % ___________________________________________ 1. Modifications to extend loan terms also included, in some cases, interest rate increases during the extension period. 2. Modified loans represent an insignificant portion of C&I and other commercial loans, rounding to zero percent. 3. All modifications were for loans classified as substandard. Nine Months Ended September 30, 2023 Interest Rate Reduction 1 % of Total Class of Financing Receivable 2 Payment Deferral 3 % of Total Class of Financing Receivable 2 Term Extension 4 % of Total Class of Financing Receivable 2 Modified Loans C&I and other commercial $ — — % $ — — % $ 17,334 0.9 % Commercial real estate 880 — % 225 — % 1,003 — % Real estate construction — — % — — % 5,353 1.0 % Total of loans modified during the period 5 $ 880 — % $ 225 — % $ 23,690 0.3 % ___________________________________________ 1. For one loan, the default rate was removed once forbearance was entered. 2. Modified loans represented an insignificant portion of commercial real estate loans, rounding to zero percent. 3. A loan with payment deferral was modified to defer all principal payments until the end of the loan term, which was shortened. 4. Modifications to extend loan terms also included, in some cases, interest rate increases during the extension period. 5. Modifications included two loans on non-accrual status, and the remaining loans were classified as substandard. The following table summarizes loan modifications made during the periods indicated for borrowers experiencing financial difficulty: Three Months Ended September 30, 2024 2023 Weighted Average Term Extension Weighted Average Interest Rate Reduction Weighted Average Term Extension Loan Modifications C&I and other commercial 6.3 months — 15.3 months Commercial real estate 4.1 months 2.50 % 9.0 months Real estate construction 6.0 months — — Weighted average modifications 5.2 months 2.50 % 15.0 months Nine Months Ended September 30, 2024 2023 Weighted Average Term Extension Weighted Average Interest Rate Reduction Weighted Average Term Extension Loan Modifications C&I and other commercial 14.1 months — 14.3 months Commercial real estate 3.9 months 2.50 % 11.2 months Real estate construction 6.0 months — 12.0 months Weighted average modifications 9.5 months 2.50 % 13.7 months Performance of Modified Loans 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 during the last twelve months (dollars in thousands) : As of September 30, 2024 Current 30-89 Days 90+ Days Non-accrual Modified Loans C&I and other commercial $ 29,547 $ — $ — $ — Commercial real estate 20,082 — — — Real estate construction 5,250 — — — Amortized cost of modified loans $ 54,879 $ — $ — $ — (dollars in thousands) . A default occurs when a loan is 90 days or more past due or transferred to non-accrual status. Nine Months Ended September 30, 2023 2023 Payment Deferral Term Extension Loans with Subsequent Defaults C&I and other commercial $ — $ 500 Commercial real estate 225 — Amortized cost of modified loans with subsequent defaults $ 225 $ 500
Schedule of Loans Evaluated Individually, Segregated by Loan Category and Class	Average recorded investment is calculated using the most recent four quarters (dollars in thousands) : As of September 30, 2024 Unpaid Recorded Investment Average With No With Total Related Loans evaluated individually Commercial loans C&I and other commercial $ 7,821 $ 1,758 $ 2,479 $ 4,237 $ 1,863 $ 5,379 Commercial real estate 516 492 — 492 — 1,163 Commercial loans evaluated individually 8,337 2,250 2,479 4,729 1,863 6,542 Retail loans Retail real estate — — — — — 67 Retail loans evaluated individually — — — — — 67 Total loans evaluated individually $ 8,337 $ 2,250 $ 2,479 $ 4,729 $ 1,863 $ 6,609 As of December 31, 2023 Unpaid Recorded Investment Average With No With Total Related Commercial loans C&I and other 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
Schedule of Activity on the Allowance for Loan Losses	The following tables summarize activity in the ACL attributable to each lending activity. Allocation of a portion of the ACL to one lending activity does not preclude its availability to absorb losses from other lending activities (dollars in thousands) : Three Months Ended September 30, 2024 C&I and Other Commercial Commercial Real Estate Retail Retail Other Total ACL balance, June 30, 2024 $ 20,286 $ 35,104 $ 3,722 $ 23,729 $ 2,385 $ 85,226 Provision for credit losses 715 (1,158) 39 120 286 2 Charged-off (202) (215) — (32) (225) (674) Recoveries 210 4 10 162 41 427 ACL balance, September 30, 2024 $ 21,009 $ 33,735 $ 3,771 $ 23,979 $ 2,487 $ 84,981 Nine Months Ended September 30, 2024 C&I and Other Commercial Commercial Real Estate Retail Retail Other Total ACL balance, December 31, 2023 $ 21,256 $ 35,465 $ 5,163 $ 26,298 $ 3,558 $ 91,740 Day 1 PCD 1 824 322 — 96 1 1,243 Provision for credit losses 13,958 (1,882) (1,449) (2,624) (686) 7,317 Charged-off (15,433) (315) — (159) (503) (16,410) Recoveries 404 145 57 368 117 1,091 ACL balance, September 30, 2024 $ 21,009 $ 33,735 $ 3,771 $ 23,979 $ 2,487 $ 84,981 ___________________________________________ 1. The Day 1 PCD is attributable to the M&M acquisition (see “ Note 2. Mergers and Acquisitions .”) Three Months Ended September 30, 2023 C&I and Other Commercial Commercial Real Estate Retail Retail Other Total ACL balance, June 30, 2023 $ 24,510 $ 33,656 $ 5,071 $ 24,675 $ 3,727 $ 91,639 Provision for credit losses (1,306) 745 104 674 147 364 Charged-off (758) (102) — (144) (111) (1,115) Recoveries 187 392 31 128 84 822 ACL balance, September 30, 2023 $ 22,633 $ 34,691 $ 5,206 $ 25,333 $ 3,847 $ 91,710 Nine Months Ended September 30, 2023 C&I and Other Commercial Commercial Real Estate Retail Retail Other Total ACL balance, December 31, 2022 $ 23,860 $ 38,299 $ 6,457 $ 18,193 $ 4,799 $ 91,608 Provision for credit losses 79 (3,006) (1,404) 6,975 (700) 1,944 Charged-off (1,733) (1,175) — (252) (483) (3,643) Recoveries 427 573 153 417 231 1,801 ACL balance, September 30, 2023 $ 22,633 $ 34,691 $ 5,206 $ 25,333 $ 3,847 $ 91,710
Schedule of ACL and Amortized Cost of Portfolio Loans by Loan Category	The following tables present the ACL and amortized cost of portfolio loans by loan category and lending activity (dollars in thousands) : As of September 30, 2024 Portfolio Loans ACL Attributed to Portfolio Loans Collectively Individually Total Collectively Individually Total Commercial loans C&I and other commercial $ 1,873,260 $ 4,237 $ 1,877,497 $ 19,146 $ 1,863 $ 21,009 Commercial real estate 3,355,315 492 3,355,807 33,735 — 33,735 Real estate construction 397,977 — 397,977 3,771 — 3,771 Commercial loans and related ACL 5,626,552 4,729 5,631,281 56,652 1,863 58,515 Retail loans Retail real estate 1,708,771 — 1,708,771 23,979 — 23,979 Retail other 469,045 — 469,045 2,487 — 2,487 Retail loans and related ACL 2,177,816 — 2,177,816 26,466 — 26,466 Portfolio loans and related ACL $ 7,804,368 $ 4,729 $ 7,809,097 $ 83,118 $ 1,863 $ 84,981 As of December 31, 2023 Portfolio Loans ACL Attributed to Portfolio Loans Collectively Individually Total Collectively Individually Total Commercial loans C&I and other 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

LEASES (Tables)

LEASES (Tables)	9 Months Ended
	Sep. 30, 2024
Leases [Abstract]
Schedule of Lease-Related Balances	The following table summarizes lease-related balances that Busey reported on its Consolidated Balance Sheets (Unaudited) (dollars in thousands) and lease terms: As of September 30, December 31, Lease balances Right of use assets $ 11,100 $ 11,027 Lease liabilities 11,470 11,308 Lease terms Year through which lease terms extend 2037 2037 Weighted average remaining lease term 7.62 years 8.39 years Weighted average discount rate 3.74 % 3.59 %
Schedule of Lease Costs and Other Lease Information	The following table presents lease costs, which are included in net occupancy and equipment expense in the Consolidated Statements of Income (Unaudited) , and lease-related cash flows (dollars in thousands) : Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Lease costs Operating lease costs $ 608 $ 615 $ 1,702 $ 1,836 Variable lease costs 15 9 43 27 Short-term lease costs 12 15 70 37 Total lease cost $ 635 $ 639 $ 1,815 $ 1,900 Cash flows related to leases Cash paid for amounts included in the measurement of lease liabilities: Operating lease cash flows – Fixed payments $ 568 $ 586 $ 1,605 $ 1,720 Operating lease cash flows – Liability reduction 466 483 1,310 1,423 Right of use assets obtained during the period in exchange for operating lease liabilities 1 469 199 1,478 208 ___________________________________________ 1. The nine months ended September 30, 2024, included $0.3 million right of use assets recognized during the second quarter of 2024 in connection with the acquisition of M&M (see “ Note 2. Mergers and Acquisitions ” ), and an additional $0.7 million recognized in the second quarter of 2024 in connection with a lease amendment that was executed subsequent to the acquisition for a lease that was obtained in the acquisition.
Schedule of Future Undiscounted Lease Payments	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 Remainder of 2024 $ 590 2025 2,088 2026 1,766 2027 1,549 2028 1,494 2029 1,503 Thereafter 4,303 Total undiscounted cash flows 13,293 Less: Amounts representing interest 1,823 Present value of net future minimum lease payments $ 11,470
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 (Unaudited) , are summarized as follows (dollars in thousands) : Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Rental income $ 206 $ 152 $ 612 $ 526
Schedule of Future Minimum Lease Payments	Busey is entitled to receive aggregate future minimum lease payments as shown in the table below (dollars in thousands) : As of Rents to be received Remainder of 2024 $ 207 2025 665 2026 503 2027 301 2028 185 Total lease payments from operating leases $ 1,861

DEPOSITS (Tables)

DEPOSITS (Tables)	9 Months Ended
	Sep. 30, 2024
Deposits [Abstract]
Schedule of Composition of Deposits	The composition of Busey’s deposits is presented in the table below (dollars in thousands) : As of September 30, December 31, Deposits Noninterest-bearing demand deposits $ 2,683,543 $ 2,834,655 Interest-bearing transaction deposits 2,455,217 2,717,139 Saving deposits and money market deposits 3,284,556 2,920,088 Time deposits 1,519,925 1,819,274 Total deposits $ 9,943,241 $ 10,291,156 Additional information about Busey’s deposits follows (dollars in thousands) : As of September 30, December 31, Brokered savings deposits and money market deposits $ 6,001 $ 6,001 Brokered time deposits 7,088 285 Aggregate amount of time deposits with a minimum denomination of $100,000 873,754 1,072,189 Aggregate amount of time deposits with a minimum denomination that meets or exceeds the FDIC insurance limit of $250,000 338,808 386,286
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 Remainder of 2024 $ 547,111 2025 914,253 2026 30,592 2027 13,689 2028 8,715 2029 5,116 Thereafter 449 Time deposits $ 1,519,925

BORROWINGS (Tables)

BORROWINGS (Tables)	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Schedule of Securities Sold Under Agreements to Repurchase	Securities sold under agreements to repurchase were as follows (dollars in thousands) : As of September 30, December 31, Securities sold under agreements to repurchase $ 128,429 $ 187,396 Weighted average rate for securities sold under agreements to repurchase 2.77 % 3.26 %
Schedule of Short-term Borrowings	Short-term borrowings are summarized as follows (dollars in thousands) : As of September 30, December 31, Short-term borrowings Term Loan, current portion due within 12 months $ — $ 12,000 Total short-term debt $ — $ 12,000
Schedule of Long-term Debt	Long-term debt is summarized as follows (dollars in thousands) : As of September 30, December 31, Long-term debt Term Loan $ — $ 18,000 Total long-term debt $ — $ 18,000
Schedule of Unamortized Debt Issuance Cost	Unamortized debt issuance costs related to Busey’s subordinated notes are presented in the following table (dollars in thousands) : As of September 30, December 31, Unamortized debt issuance costs Subordinated notes issued in 2020 $ 353 $ 735 Subordinated notes issued in 2022 1,101 1,383 Total unamortized debt issuance costs $ 1,454 $ 2,118

REGULATORY CAPITAL (Tables)

REGULATORY CAPITAL (Tables)	9 Months Ended
	Sep. 30, 2024
Banking and Thrift, Other Disclosure [Abstract]
Schedule of Regulatory Capital Requirements Applicable to Busey and Busey Bank	The following tables summarize regulatory capital requirements applicable to First Busey and Busey Bank (dollars in thousands) : As of September 30, 2024 Actual Minimum Minimum Amount Ratio Amount Ratio Amount Ratio Common equity Tier 1 capital to risk weighted assets First Busey $ 1,219,574 13.78 % $ 398,365 4.50 % $ 575,416 6.50 % Busey Bank $ 1,425,762 16.17 % $ 396,739 4.50 % $ 573,068 6.50 % Tier 1 capital to risk weighted assets First Busey $ 1,296,574 14.65 % $ 531,153 6.00 % $ 708,204 8.00 % Busey Bank $ 1,425,762 16.17 % $ 528,985 6.00 % $ 705,314 8.00 % Total capital to risk weighted assets First Busey $ 1,610,247 18.19 % $ 708,204 8.00 % $ 885,255 10.00 % Busey Bank $ 1,510,436 17.13 % $ 705,314 8.00 % $ 881,642 10.00 % Leverage ratio of Tier 1 capital to average assets First Busey $ 1,296,574 10.97 % $ 472,629 4.00 % N/A N/A Busey Bank $ 1,425,762 12.10 % $ 471,202 4.00 % $ 589,003 5.00 % 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 %

TAX CREDIT AND OTHER INVESTME_2

TAX CREDIT AND OTHER INVESTMENTS IN UNCONSOLIDATED ENTITIES (Tables)	9 Months Ended
	Sep. 30, 2024
Investments, All Other Investments [Abstract]
Schedule of Investments	Busey’s investments in these unconsolidated entities and related unfunded investment obligations are reflected in other assets and other liabilities on the Consolidated Balance Sheets (Unaudited) , and are summarized in the table below for the periods indicated (dollars in thousands) : As of Location September 30, December 31, Investments in unconsolidated entities Funded investments Other assets $ 68,164 $ 68,516 Unfunded investments Other assets 68,200 58,552 Investments in unconsolidated entities $ 136,364 $ 127,068 Unfunded investment obligations Other liabilities $ 68,200 $ 58,552 Upon adoption of ASU 2023-02 on January 1, 2024, Busey elected to apply the proportional amortization method in accounting for investments in tax-advantaged projects. Estimated income tax credits and other tax benefits related to these investments, net of investment amortization, are included as a component of our estimated annual effective tax rate used for the calculation of income taxes presented on the Consolidated Statements of Income (Unaudited) . Actual amounts of income tax credits and other benefits, along with the investment amortization, are presented in the table below (dollars in thousands) : Three Months Ended September 30, 2024 Nine Months Ended September 30, 2024 Income tax credits and other tax benefits $ 4,040 $ 11,941 Amortization of investments in tax-advantaged projects 3,575 10,593

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Changes in the Company's Stock Option Awards	Busey has outstanding stock options assumed from acquisitions. A summary of the status of, and changes in, the Company's stock option awards for the nine months ended September 30, 2024, follows: Options Shares Weighted- Weighted- Outstanding at December 31, 2023 21,266 $ 23.53 2.88 years Exercised (440) 23.53 Forfeited (3,520) 23.53 Outstanding at September 30, 2024 17,306 23.53 2.13 years Exercisable at September 30, 2024 17,306 23.53 2.13 years
Schedule of Changes in the Company's RSU, PSU, and DSU Awards	A summary of changes in Busey’s RSU awards for the nine months ended September 30, 2024, is as follows: RSU Awards Shares Weighted- Nonvested at December 31, 2023 1,041,444 $ 22.05 Granted 202,043 23.35 Dividend equivalents earned 32,239 24.92 Vested (172,822) 25.72 Forfeited (13,692) 23.28 Nonvested at September 30, 2024 1,089,212 21.77 A summary of changes in Busey’s PSU awards for the nine months ended September 30, 2024, is as follows: PSU Awards Shares 1 Weighted- Nonvested at December 31, 2023 341,700 $ 22.67 Granted 189,208 22.32 Dividend equivalents earned 2 4,264 22.95 Vested 2 (4,264) 22.95 Forfeited (6,306) 22.43 Nonvested at September 30, 2024 524,602 22.54 ___________________________________________ 1. Shares for PSU awards represent target shares at the grant date. 2. PSUs granted in 2021 vested on December 31, 2023, with performance determination and settlement activity in the first quarter of 2024. Final performance was determined to be at 50% of target. A summary of changes in Busey’s DSU awards for the nine months ended September 30, 2024, is as follows: DSU Awards Shares Weighted- Nonvested at December 31, 2023 43,026 $ 20.41 Granted 35,847 23.35 Dividend equivalents earned 6,032 25.02 Vested (47,351) 20.92 Forfeited (1,025) 20.44 Nonvested at September 30, 2024 36,529 23.39 Vested and outstanding at September 30, 2024 183,124 22.84
Schedule of Stock-Based Compensation Expense	Busey recognized compensation expense related to non-vested RSU, PSU, and DSU awards, as well as the ESPP, as summarized in the table below (dollars in thousands) : Three Months Ended September 30, Nine Months Ended September 30, Location 2024 2023 2024 2023 Stock-based compensation expense RSU awards Salaries, wages, and employee benefits $ 1,057 $ 1,177 $ 3,012 $ 3,428 PSU awards 1 Salaries, wages, and employee benefits 976 1,180 2,037 2,724 DSU awards Other expense 211 213 615 620 ESPP Salaries, wages, and employee benefits 47 33 164 156 Total stock-based compensation expense $ 2,291 $ 2,603 $ 5,828 $ 6,928 ___________________________________________ 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 compensation expense related to nonvested RSU, PSU, and DSU awards is summarized in the table below (dollars in thousands) : As of September 30, December 31, Unamortized stock-based compensation RSU awards $ 8,267 $ 6,842 PSU awards 1 4,068 3,607 DSU awards 392 190 Total unamortized stock-based compensation $ 12,727 $ 10,639 Weighted average period over which expense is to be recognized 2.5 years 2.4 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.

OUTSTANDING COMMITMENTS AND C_2

OUTSTANDING COMMITMENTS AND CONTINGENT LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2024
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 September 30, December 31, Financial instruments whose contract amounts represent credit risk Commitments to extend credit $ 2,503,727 $ 2,132,500 Standby letters of credit 36,612 43,996 Total commitments $ 2,540,339 $ 2,176,496

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Sep. 30, 2024
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 September 30, December 31, Pledged loans FHLB $ 4,935,257 $ 4,865,481 Federal Reserve Bank 755,936 722,914 Total pledged loans $ 5,691,193 $ 5,588,395 To secure its obligations under derivative contracts, Busey pledged cash and held collateral as follows (dollars in thousands) : As of September 30, December 31, Cash pledged to secure obligations under derivative contracts $ 17,270 $ 34,210 Collateral held to secure obligations under derivative contracts 9,380 19,280
Schedule 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 Location September 30, December 31, Debt Swap Notional amount — $ 50,000 Weighted average rate: pay-fixed — 1.79 % Weighted average variable 3-month Fallback Rate (SOFR) receive rates — 5.61 % Weighted average maturity — 0.71 years Prime Loan Swap Notional amount $ 300,000 $ 300,000 Weighted average rate: receive-fixed 4.81 % 4.81 % Weighted average variable Prime pay rates 8.25 % 8.50 % Weighted average maturity 4.35 years 5.10 years SOFR Loan Swap Notional amount $ 100,000 $ — Weighted average rate: receive-fixed 3.72 % — Weighted average maturity 4.43 years — Gross aggregate fair value of the swaps Gross aggregate fair value of swap assets Other assets $ 2,332 $ 1,293 Gross aggregate fair value of swap liabilities Other liabilities 19,176 25,411 Balances carried in AOCI Unrealized gains (losses) on cash flow hedges, net of tax AOCI $ (11,487) $ (16,694)
Schedule of 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 September 30, 2024. As of Unrealized losses expected to be reclassified from OCI to interest income $ (859)
Schedule of Interest Income (Expense) Recorded on Swap Transactions	Interest income and interest expense recorded on these swap transactions is presented in the following table (dollars in thousands) : Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Interest on swap transactions Increase (decrease) in interest income on swap transactions $ (2,776) $ (2,771) $ (8,366) $ (7,500) (Increase) decrease in interest expense on swap transactions 412 481 1,378 1,268 Net increase (decrease) in net interest income on swap transactions $ (2,364) $ (2,290) $ (6,988) $ (6,232)
Schedule of Net Gains (Losses) Relating to these Derivative Instruments	Net gains (losses) relating to cash flow derivative instruments that were recorded in OCI on the Consolidated Statements of Income (Unaudited) are presented in the table below (dollars in thousands) : Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Unrealized gains (losses) on cash flow hedges Net gain (loss) recognized in OCI, net of tax $ 7,439 $ (5,577) $ 211 $ (8,563) (Gain) loss reclassified from OCI to interest income, net of tax 1,984 1,982 5,981 5,362 (Gain) loss reclassified from OCI to interest expense, net of tax (294) (344) (985) (906) Net change in unrealized gains (losses) on cash flow hedges, net of tax $ 9,129 $ (3,939) $ 5,207 $ (4,107) Changes in fair value of these derivative assets and liabilities are included in the Consolidate d Statements of Income ( U naudited) and are summarized as follows (dollars in thousands) : Three Months Ended September 30, Nine Months Ended September 30, Location 2024 2023 2024 2023 Interest rate swaps Receive-fixed, pay-floating Noninterest expense $ (9,224) $ 9,007 $ (3,050) $ 4,646 Receive-floating, pay-fixed Noninterest expense 9,224 (9,007) 3,050 (4,646) Net change in fair value of interest rate swaps $ — $ — $ — $ — Gains and losses relating to these derivative instruments are reported in noninterest income, and are summarized as follows for the periods presented (dollars in thousands) : Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Net gains (losses) on mortgage banking derivatives Gains (losses) on interest rate lock commitments $ 121 $ (16) $ 569 $ (28) Gains (losses) on forward sales commitments (91) 60 (165) 92 Net gains (losses) on mortgage banking derivatives $ 30 $ 44 $ 404 $ 64
Schedule of Fair Values of Derivative Assets and Liabilities Recorded in Consolidated Balance Sheet	Amounts and fair values of derivative assets and derivative liabilities related to customer interest rate swaps recorded on the Consolidated Balance Sheets (Unaudited) , are summarized as follows (dollars in thousands) : As of September 30, 2024 As of December 31, 2023 Location Notional Fair Notional Fair Derivative assets not designated as hedging instruments Interest rate swaps: receive-fixed, pay-floating Other assets $ 333,545 $ 6,730 $ 177,883 $ 2,375 Interest rate swaps: receive-floating, pay-fixed Other assets 377,609 18,648 485,253 26,289 Derivative assets not designated as hedging instruments $ 711,154 $ 25,378 $ 663,136 $ 28,664 Derivative liabilities not designated as hedging instruments Interest rate swaps: receive-fixed, pay-floating Other liabilities $ 377,609 $ 18,648 $ 485,253 $ 26,289 Interest rate swaps: receive-floating, pay-fixed Other liabilities 333,545 6,730 177,883 2,375 Derivative liabilities not designated as hedging instruments $ 711,154 $ 25,378 $ 663,136 $ 28,664 Amounts and fair values of mortgage banking derivatives included on the Consolidated Balance Sheets (Unaudited) are summarized as follows (dollars in thousands) : As of September 30, 2024 As of December 31, 2023 Location Notional Fair Notional Fair Mortgage banking derivative assets Interest rate lock commitments Other assets $ 4,666 $ 76 $ 3,477 $ 25 Forward sales commitments Other assets 3,887 9 1,761 11 Mortgage banking derivative assets $ 8,553 $ 85 $ 5,238 $ 36 Mortgage banking derivative liabilities Interest rate lock commitments Other liabilities $ 309 $ 2 $ 1,615 $ 10 Forward sales commitments Other liabilities 10,430 80 5,216 47 Mortgage banking derivative liabilities $ 10,739 $ 82 $ 6,831 $ 57
Schedule of Notional Amount and Fair Value of Risk Participation Agreement	The risk participation agreements mature between August 2026 and January 2029, and are summarized as follows (dollars in thousands) : As of September 30, December 31, Risk participation agreements purchased Number of risk participation agreements 6 3 Notional amount $ 41,110 $ 34,251 Fair value 16 15 Risk participation agreements sold Number of risk participation agreements — 1 Notional amount — $ 20,001 Fair value — —

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Sep. 30, 2024
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 estimated fair value on a recurring basis (dollars in thousands) : As of September 30, 2024 Level 1 Level 2 Level 3 Total Debt securities available for sale: U.S. Treasury securities $ — $ 250 $ — $ 250 Obligations of U.S. government corporations and agencies — 1,508 — 1,508 Obligations of states and political subdivisions — 155,052 — 155,052 Asset-backed securities — 405,372 — 405,372 Commercial mortgage-backed securities — 94,279 — 94,279 Residential mortgage-backed securities — 1,002,167 — 1,002,167 Corporate debt securities — 159,489 — 159,489 Equity securities 40 10,275 — 10,315 Derivative assets — 27,795 16 27,811 Derivative liabilities — 44,636 — 44,636 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 Activity for risk participation agreements, which are financial assets measured at estimated fair value on a recurring basis using Level 3, is summarized in the tables below (dollars in thousands) : Three Months Ended September 30, Nine Months Ended September 30, Location 2024 2023 2024 2023 Beginning Balance $ 8 $ 15 $ 15 $ 5 Gains (losses) recognized in earnings Other expense (5) (8) (15) (68) Purchases 13 — 16 70 Ending Balance $ 16 $ 7 $ 16 $ 7
Schedule of Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis	The following tables summarize financial assets and financial liabilities measured at estimated fair value on a non-recurring basis (dollars in thousands) : As of September 30, 2024 Level 1 Level 2 Level 3 Total Loans evaluated individually, net of related allowance $ — $ — $ 616 $ 616 Bank property held for sale with impairment — — 3,205 3,205 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
Schedule of Quantitative Information About Level 3 Fair Value Measurements	The following table presents additional quantitative information about assets measured at estimated fair value on a non-recurring basis using Level 3 inputs (dollars in thousands) : As of September 30, 2024 Fair Value Valuation Unobservable Range Loans evaluated individually, net of related allowance $ 616 Appraisal of collateral Appraisal adjustments -25.0% to -100.0% (-75.2)% Bank property held for sale with impairment 3,205 Appraisal of collateral or real estate listing price Appraisal adjustments -9.0% to -76.7% (-50.6)% 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)%
Schedule of Estimated Fair Values of Financial Instruments	Fair values of financial instruments that are not carried at fair value on Busey’s Consolidated Balance Sheets (Unaudited) were estimated as follows (dollars in thousands) : As of September 30, 2024 As of December 31, 2023 Carrying Fair Carrying Fair Financial assets Level 1 inputs: Cash and cash equivalents $ 553,709 $ 553,709 $ 719,581 $ 719,581 Level 2 inputs: Debt securities held to maturity 838,883 712,369 872,628 730,397 Loans held for sale 11,523 11,810 2,379 2,401 Accrued interest receivable 48,822 48,822 45,288 45,288 Level 3 inputs: Portfolio loans, net 7,724,116 7,597,736 7,559,294 7,276,905 Mortgage servicing rights 1,008 4,963 3,289 18,079 Other servicing rights 1,479 1,505 1,597 2,062 Financial liabilities Level 2 inputs: Time deposits $ 1,519,925 $ 1,511,069 $ 1,819,274 $ 1,804,905 Securities sold under agreements to repurchase 128,429 128,429 187,396 187,396 Short-term borrowings — — 12,000 12,034 Long-term debt — — 18,000 18,020 Junior subordinated debt owed to unconsolidated trusts 74,754 61,840 71,993 57,153 Accrued interest payable 33,447 33,447 28,418 28,418 Level 3 inputs: Subordinated notes, net of unamortized issuance costs 227,482 216,713 222,882 200,000

EARNINGS PER COMMON SHARE (Tabl

EARNINGS PER COMMON SHARE (Tables)	9 Months Ended
	Sep. 30, 2024
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) : Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Net income $ 32,004 $ 30,666 $ 85,586 $ 96,816 Weighted average number of common shares outstanding, basic 57,033,359 55,486,700 56,458,430 55,441,980 Dilutive effect of common stock equivalents: Options 1,714 — 572 — Warrants — — — 432 RSU awards 655,224 640,714 662,609 638,495 PSU awards 254,365 165,868 264,451 126,787 DSU awards 16,766 16,792 18,390 14,996 ESPP 6,420 5,418 6,847 7,934 Weighted average number of common shares outstanding, diluted 57,967,848 56,315,492 57,411,299 56,230,624 Basic earnings per common share $ 0.56 $ 0.55 $ 1.52 $ 1.75 Diluted earnings per common share $ 0.55 $ 0.54 $ 1.49 $ 1.72
Schedule of Average 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: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Anti-dilutive common stock equivalents Options — 21,926 12,784 22,219 RSU awards — — 4,288 52,594 PSU awards 107,065 85,074 103,001 137,918 Total anti-dilutive common stock equivalents 107,065 107,000 120,073 212,731

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	9 Months Ended
	Sep. 30, 2024
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent, Alternative [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following tables present changes in AOCI by component, net of tax, for the periods indicated (dollars in thousands) : Three Months Ended September 30, 2024 2023 Before Tax Tax Effect Net of Tax Before Tax Tax Effect Net of Tax Unrealized/Unrecognized gains (losses) on debt securities Balance at beginning of period $ (279,334) $ 79,624 $ (199,710) $ (335,359) $ 95,591 $ (239,768) Unrealized holding gains (losses) on debt securities available for sale, net 54,950 (15,664) 39,286 (37,696) 10,746 (26,950) Amounts reclassified from AOCI, net 11 (3) 8 33 (9) 24 Amortization of unrecognized losses on securities transferred to held to maturity 1,384 (394) 990 1,476 (420) 1,056 Balance at end of period $ (222,989) $ 63,563 $ (159,426) $ (371,546) $ 105,908 $ (265,638) Unrealized gains (losses) on cash flow hedges Balance at beginning of period $ (28,833) $ 8,217 $ (20,616) $ (29,586) $ 8,433 $ (21,153) Unrealized holding gains (losses) on cash flow hedges, net 10,404 (2,965) 7,439 (7,797) 2,220 (5,577) Amounts reclassified from AOCI, net 2,364 (674) 1,690 2,290 (652) 1,638 Balance at end of period $ (16,065) $ 4,578 $ (11,487) $ (35,093) $ 10,001 $ (25,092) Total AOCI $ (239,054) $ 68,141 $ (170,913) $ (406,639) $ 115,909 $ (290,730) Nine Months Ended September 30, 2024 2023 Before Tax Tax Effect Net of Tax Before Tax Tax Effect Net of Tax Unrealized/Unrecognized gains (losses) on debt securities Balance at beginning of period $ (282,688) $ 80,579 $ (202,109) $ (352,878) $ 100,585 $ (252,293) Unrealized holding gains (losses) on debt securities available for sale, net 48,688 (13,878) 34,810 (23,600) 6,728 (16,872) Amounts reclassified from AOCI, net 6,817 (1,943) 4,874 207 (59) 148 Amortization of unrecognized losses on securities transferred to held to maturity 4,194 (1,195) 2,999 4,725 (1,346) 3,379 Balance at end of period $ (222,989) $ 63,563 $ (159,426) $ (371,546) $ 105,908 $ (265,638) Unrealized gains (losses) on cash flow hedges Balance at beginning of period $ (23,348) $ 6,654 $ (16,694) $ (29,350) $ 8,365 $ (20,985) Unrealized holding gains (losses) on cash flow hedges, net 295 (84) 211 (11,975) 3,412 (8,563) Amounts reclassified from AOCI, net 6,988 (1,992) 4,996 6,232 (1,776) 4,456 Balance at end of period $ (16,065) $ 4,578 $ (11,487) $ (35,093) $ 10,001 $ (25,092) Total AOCI $ (239,054) $ 68,141 $ (170,913) $ (406,639) $ 115,909 $ (290,730)

OPERATING SEGMENTS AND RELATE_2

OPERATING SEGMENTS AND RELATED INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Schedule 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, Inc. until its dissolution on December 18, 2023, and the elimination of intercompany transactions (dollars in thousands) : Goodwill Total Assets As of As of September 30, December 31, September 30, December 31, Operating segment Banking $ 310,398 $ 294,773 $ 11,806,647 $ 12,125,298 Wealth Management 14,108 14,108 119,801 103,147 FirsTech 8,992 8,992 51,474 51,600 Other — — 8,917 3,370 Consolidated total $ 333,498 $ 317,873 $ 11,986,839 $ 12,283,415 Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Net interest income Banking $ 86,425 $ 81,794 $ 252,200 $ 254,394 FirsTech 12 14 37 41 Other (3,896) (4,017) (11,495) (12,117) Net interest income $ 82,541 $ 77,791 $ 240,742 $ 242,318 Noninterest income Banking $ 14,056 $ 11,983 $ 39,962 $ 34,716 Wealth Management 16,169 14,350 47,989 43,993 FirsTech 5,551 5,665 17,700 16,954 Other 175 (990) (899) (4,795) Total noninterest income $ 35,951 $ 31,008 $ 104,752 $ 90,868 Noninterest expense Banking $ 56,740 $ 55,172 $ 167,724 $ 163,314 Wealth Management 8,777 8,059 26,704 24,821 FirsTech 5,648 5,245 17,666 16,303 Other 4,761 2,469 10,138 6,115 Total noninterest expense $ 75,926 $ 70,945 $ 222,232 $ 210,553 Income before income taxes Banking $ 43,739 $ 38,241 $ 117,121 $ 123,852 Wealth Management 7,392 6,291 21,285 19,172 FirsTech (85) 434 71 692 Other (8,482) (7,476) (22,532) (23,027) Income before income taxes $ 42,564 $ 37,490 $ 115,945 $ 120,689 Net income Banking $ 33,221 $ 31,189 $ 86,410 $ 98,689 Wealth Management 5,618 4,781 16,177 14,571 FirsTech (61) 317 53 505 Other (6,774) (5,621) (17,054) (16,949) Net income $ 32,004 $ 30,666 $ 85,586 $ 96,816

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Details) $ in Thousands		9 Months Ended
	Jan. 01, 2024 USD ($)	Sep. 30, 2024 USD ($) segment	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total assets		$ 11,986,839		$ 12,283,415
Number of operating segments | segment		3
Number of reportable segments | segment		3
Deferred tax valuation adjustment		$ 1,400
Retained earnings decrease		(279,868)		$ (237,197)
Decrease in other assets		10,082	$ (15,072)
Decrease in other liabilities		6,655	(171)
Increase in deferred tax assets		$ (1,905)	$ 2,000
Accounting Standards Update 2023-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings decrease	$ 1,400
Decrease in other assets	2,400
Decrease in other liabilities	500
Increase in deferred tax assets	$ 500

MERGERS AND ACQUISITIONS - Narr

MERGERS AND ACQUISITIONS - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands			3 Months Ended	9 Months Ended
	Aug. 26, 2024	Apr. 01, 2024	Sep. 30, 2024	Sep. 30, 2024	Dec. 31, 2023
Business Acquisition, Contingent Consideration [Line Items]
Goodwill			$ 333,498	$ 333,498	$ 317,873
CrossFirst Bankshares, Inc.
Business Acquisition, Contingent Consideration [Line Items]
Business acquisition stock holders own percentage	63.50%
Pre-tax acquisition expenses			1,300	1,500
CrossFirst Bankshares, Inc. | CrossFirst Bankshares, Inc.
Business Acquisition, Contingent Consideration [Line Items]
Business acquisition stock holders own percentage on fully-diluted basis	0.365
CrossFirst Bankshares, Inc. | Common Stock | CrossFirst Bankshares, Inc.
Business Acquisition, Contingent Consideration [Line Items]
Shares received for each share owned (in shares)	0.6675
Merchants and Manufacturers Bank Corporation
Business Acquisition, Contingent Consideration [Line Items]
Shares received for each share owned (in shares)		5.7294
Pre-tax acquisition expenses			$ 600	$ 2,900
Per share cash consideration entitled, Cash Election (in dollars per share)		$ 117.74
Consideration transferred per share in cash, Mixed Election (in dollars per share)		$ 34.55
Consideration transferred per share in shares, Mixed Election (in shares)		4.0481
Business combination consideration, number of shares (in shares)		1,429,304
Cash		$ 12,200
Consideration transferred per share in cash, Share Election (in dollars per share)		$ 5.3966
Consideration transferred per share in shares, Share Election (in shares)		5.4668
Cash consideration received (in dollars per share)		$ 117.74
Fractional shares, payment rate (in dollars per share)		$ 23.32
Additional consideration transferred		$ 3,000
Number of shares redeemed ( in shares)		300
Goodwill		$ 15,625

MERGERS AND ACQUISITIONS - Sche

MERGERS AND ACQUISITIONS - Schedule of Estimated Acquisition-date Fair Values of the Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Apr. 01, 2024	Sep. 30, 2024	Dec. 31, 2023
Consideration paid
Goodwill		$ 333,498	$ 317,873
Merchants and Manufacturers Bank Corporation
Assets acquired
Cash and cash equivalents	$ 33,577
Securities	8,086
Portfolio loans, net of ACL	417,230
Right of use assets	253
Premises and equipment	2,045
Other intangible assets	6,346
Accrued interest receivable	4,992
Prepaid assets	185
Deferred tax assets	582
Accounts receivable	42
Mortgage servicing rights	55
Other assets	4,632
Total assets acquired	478,024
Liabilities assumed
Deposits	392,838
Borrowings	43,887
Lease liabilities	253
Other liabilities	7,096
Total liabilities assumed	444,074
Net assets acquired	33,950
Consideration paid
Cash	15,200
Common stock	34,375
Total consideration paid	49,575
Goodwill	$ 15,625

MERGERS AND ACQUISITIONS - Sc_2

MERGERS AND ACQUISITIONS - Schedule of Reconciliation Between the Purchase Price and the Fair Value (Details) - Merchants and Manufacturers Bank Corporation - Financial Asset Acquired with Credit Deterioration $ in Thousands	Apr. 01, 2024 USD ($)
PCD Financial Assets
Gross contractual receivable for PCD financial assets	$ 29,290
ACL recorded for estimated uncollectible contractual cash flows specific to PCD financial assets	(1,243)
Interest premium (discount) specific to PCD financial assets	(1,773)
Fair value of PCD financial assets	$ 26,274

DEBT SECURITIES - Schedule of A

DEBT SECURITIES - Schedule of Amortized Cost, Unrealized or Unrecognized Gains and Losses, and Fair Values of Securities Classified as AFS and HTM (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Debt securities available for sale
Amortized Cost	$ 2,009,671	$ 2,334,630
Gross unrealized gains	761	186
Gross unrealized losses	(192,315)	(247,245)
Fair Value	1,818,117	2,087,571
Debt securities held to maturity
Amortized Cost	838,883	872,628
Gross unrecognized gains	0	0
Gross unrecognized losses	(126,514)	(142,231)
Fair Value	712,369	730,397
U.S. Treasury securities
Debt securities available for sale
Amortized Cost	250	16,031
Gross unrealized gains	0	0
Gross unrealized losses	0	(85)
Fair Value	250	15,946
Obligations of U.S. government corporations and agencies
Debt securities available for sale
Amortized Cost	1,515	5,889
Gross unrealized gains	0	1
Gross unrealized losses	(7)	(58)
Fair Value	1,508	5,832
Obligations of states and political subdivisions
Debt securities available for sale
Amortized Cost	168,052	190,819
Gross unrealized gains	144	52
Gross unrealized losses	(13,144)	(18,026)
Fair Value	155,052	172,845
Asset-backed securities
Debt securities available for sale
Amortized Cost	405,280	470,046
Gross unrealized gains	92	0
Gross unrealized losses	0	(1,823)
Fair Value	405,372	468,223
Commercial mortgage-backed securities
Debt securities available for sale
Amortized Cost	106,543	119,044
Gross unrealized gains	228	0
Gross unrealized losses	(12,492)	(15,535)
Fair Value	94,279	103,509
Debt securities held to maturity
Amortized Cost	419,685	428,526
Gross unrecognized gains	0	0
Gross unrecognized losses	(64,780)	(71,000)
Fair Value	354,905	357,526
Residential mortgage-backed securities
Debt securities available for sale
Amortized Cost	1,161,213	1,306,854
Gross unrealized gains	179	5
Gross unrealized losses	(159,225)	(195,547)
Fair Value	1,002,167	1,111,312
Debt securities held to maturity
Amortized Cost	419,198	444,102
Gross unrecognized gains	0	0
Gross unrecognized losses	(61,734)	(71,231)
Fair Value	357,464	372,871
Corporate debt securities
Debt securities available for sale
Amortized Cost	166,818	225,947
Gross unrealized gains	118	128
Gross unrealized losses	(7,447)	(16,171)
Fair Value	$ 159,489	$ 209,904

DEBT SECURITIES - Schedule of M

DEBT SECURITIES - Schedule of Maturity of Debt Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Amortized Cost
Due in one year or less	$ 86,812
Due after one year through five years	128,399
Due after five years through ten years	558,784
Due after ten years	1,235,676
Amortized Cost	2,009,671	$ 2,334,630
Fair Value
Due in one year or less	85,513
Due after one year through five years	123,444
Due after five years through ten years	539,952
Due after ten years	1,069,208
Fair Value	1,818,117	2,087,571
Amortized Cost
Due after one year through five years	83,464
Due after five years through ten years	14,678
Due after ten years	740,741
Amortized Cost	838,883	872,628
Fair Value
Due after one year through five years	80,274
Due after five years through ten years	13,103
Due after ten years	618,992
Fair Value	$ 712,369	$ 730,397

DEBT SECURITIES - Schedule of R

DEBT SECURITIES - Schedule of Realized Gains and Losses on Debt Securities (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Realized gains and losses on debt securities
Gross gains on debt securities	$ 0		$ 10	$ 1	$ 20
Gross (losses) on debt securities	(11)		(43)	(6,818)	(227)
Realized net gains (losses) on debt securities	$ (11)		$ (33)	$ (6,817)	$ (207)
Debt securities available for sale		$ 108,200
Pre-tax loss on debt securities		6,800
Gain on sale of mortgage servicing rights, before tax		7,500
Mortgage servicing rights sold		$ 923,500

DEBT SECURITIES - Narrative (De

DEBT SECURITIES - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Total pledged loans
Financial Instruments Owned and Pledged as Collateral [Line Items]
Debt securities, carrying amount	$ 906.8	$ 837.4

DEBT SECURITIES - Schedule of D

DEBT SECURITIES - Schedule of Debt Securities in an Unrealized or Unrecognized Loss Position (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Fair Value
Less than 12 months	$ 4,179	$ 13,033
12 months or more	1,369,246	2,049,784
Total	1,373,425	2,062,817
Unrealized Losses
Less than 12 months	(108)	(65)
12 months or more	(192,207)	(247,180)
Total	(192,315)	(247,245)
Fair Value
12 months or more	712,369	730,397
Total	712,369	730,397
Unrecognized Losses
12 months or more	(126,514)	(142,231)
Total	(126,514)	(142,231)
U.S. Treasury securities
Fair Value
Less than 12 months	0	0
12 months or more	250	15,946
Total	250	15,946
Unrealized Losses
Less than 12 months	0	0
12 months or more	0	(85)
Total	0	(85)
Obligations of U.S. government corporations and agencies
Fair Value
Less than 12 months	0	0
12 months or more	1,425	5,709
Total	1,425	5,709
Unrealized Losses
Less than 12 months	0	0
12 months or more	(7)	(58)
Total	(7)	(58)
Obligations of states and political subdivisions
Fair Value
Less than 12 months	2,518	11,442
12 months or more	134,373	146,797
Total	136,891	158,239
Unrealized Losses
Less than 12 months	(97)	(54)
12 months or more	(13,047)	(17,972)
Total	(13,144)	(18,026)
Asset-backed securities
Fair Value
Less than 12 months		0
12 months or more		468,223
Total		468,223
Unrealized Losses
Less than 12 months		0
12 months or more		(1,823)
Total		(1,823)
Commercial mortgage-backed securities
Fair Value
Less than 12 months	0	0
12 months or more	89,272	103,509
Total	89,272	103,509
Unrealized Losses
Less than 12 months	0	0
12 months or more	(12,492)	(15,535)
Total	(12,492)	(15,535)
Fair Value
12 months or more	354,905	357,526
Total	354,905	357,526
Unrecognized Losses
12 months or more	(64,780)	(71,000)
Total	(64,780)	(71,000)
Residential mortgage-backed securities
Fair Value
Less than 12 months	877	141
12 months or more	993,631	1,110,906
Total	994,508	1,111,047
Unrealized Losses
Less than 12 months	(2)	(1)
12 months or more	(159,223)	(195,546)
Total	(159,225)	(195,547)
Fair Value
12 months or more	357,464	372,871
Total	357,464	372,871
Unrecognized Losses
12 months or more	(61,734)	(71,231)
Total	(61,734)	(71,231)
Corporate debt securities
Fair Value
Less than 12 months	784	1,450
12 months or more	150,295	198,694
Total	151,079	200,144
Unrealized Losses
Less than 12 months	(9)	(10)
12 months or more	(7,438)	(16,161)
Total	$ (7,447)	$ (16,171)

DEBT SECURITIES - Schedule of_2

DEBT SECURITIES - Schedule of Additional Information on Debt Securities In Unrealized or Unrecognized Loss Position (Details) $ in Thousands	Sep. 30, 2024 USD ($) security	Dec. 31, 2023 USD ($) security
Available for Sale
Debt securities with gross unrealized or unrecognized losses, fair value | $	$ 1,373,425	$ 2,062,817
Gross unrealized or unrecognized losses on debt securities | $	$ 192,315	$ 247,245
Ratio of gross unrealized or unrecognized losses to debt securities with gross unrealized or unrecognized losses	14%	12%
Count of debt securities | security	704	835
Count of debt securities in an unrealized or unrecognized loss position | security	572	779
Held to Maturity
Debt securities with gross unrealized or unrecognized losses, fair value | $	$ 712,369	$ 730,397
Gross unrealized or unrecognized losses on debt securities | $	$ 126,514	$ 142,231
Ratio of gross unrealized or unrecognized losses to debt securities with gross unrealized or unrecognized losses	17.80%	19.50%
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 | $	$ 2,085,794	$ 2,793,214
Gross unrealized or unrecognized losses on debt securities | $	$ 318,829	$ 389,476
Ratio of gross unrealized or unrecognized losses to debt securities with gross unrealized or unrecognized losses	15.30%	13.90%
Count of debt securities | security	759	890
Count of debt securities in an unrealized or unrecognized loss position | security	627	834

PORTFOLIO LOANS - Schedule of D

PORTFOLIO LOANS - Schedule of Distribution of Portfolio Loans (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial loans	$ 7,809,097		$ 7,651,034
ACL	(84,981)	$ (85,226)	(91,740)	$ (91,710)	$ (91,639)	$ (91,608)
Portfolio loans, net	7,724,116		7,559,294
Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial loans	5,631,281		5,635,048
ACL	(58,515)		(61,884)
Commercial loans | C&I and other commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial loans	1,877,497		1,835,994
ACL	(21,009)	(20,286)	(21,256)	(22,633)	(24,510)	(23,860)
Commercial loans | Commercial and Retail Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial loans	3,355,807		3,337,337
ACL	(33,735)	(35,104)	(35,465)	(34,691)	(33,656)	(38,299)
Commercial loans | Real estate construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial loans	397,977		461,717
ACL	(3,771)	(3,722)	(5,163)	(5,206)	(5,071)	(6,457)
Retail loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial loans	2,177,816		2,015,986
ACL	(26,466)		(29,856)
Retail loans | Commercial and Retail Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial loans	1,708,771		1,720,455
ACL	(23,979)	(23,729)	(26,298)	(25,333)	(24,675)	(18,193)
Retail loans | Retail other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial loans	469,045		295,531
ACL	$ (2,487)	$ (2,385)	$ (3,558)	$ (3,847)	$ (3,727)	$ (4,799)

PORTFOLIO LOANS - Narrative (De

PORTFOLIO LOANS - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Net deferred loan origination costs	$ 12,000,000		$ 12,000,000		$ 13,500,000
Net accretable purchase accounting adjustments			(9,700,000)		(4,500,000)
Gross interest income that would have been recorded if impaired loans had been current	100,000	$ 200,000	600,000	$ 900,000
Amount of interest collected and recognized on a cash basis	0	0	0	0
Collateral dependent loans secured by real estate or business assets	5,200,000		5,200,000		$ 6,100,000
Loans in the process of foreclosure	800,000		800,000
Retail loans | Commercial and Retail Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans purchased	$ 0	$ 0	6,900,000	$ 0
Commercial loans | Watch
Accounts, Notes, Loans and Financing Receivable [Line Items]
Limit above which loans are annually reviewed			1,000,000
Commercial loans | Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Limit above which loans are annually reviewed			350,000
Commercial loans | Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Limit where loans are processed through an expedited underwriting process			$ 1,000,000

PORTFOLIO LOANS - Schedule of F

PORTFOLIO LOANS - Schedule of Financial Instruments Owned and Pledged as Collateral (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Financial Instruments Owned and Pledged as Collateral [Line Items]
Pledged loans	$ 7,724,116	$ 7,559,294
Total pledged loans
Financial Instruments Owned and Pledged as Collateral [Line Items]
Pledged loans	5,691,193	5,588,395
FHLB
Financial Instruments Owned and Pledged as Collateral [Line Items]
Pledged loans	4,935,257	4,865,481
Federal Reserve Bank
Financial Instruments Owned and Pledged as Collateral [Line Items]
Pledged loans	$ 755,936	$ 722,914

PORTFOLIO LOANS - Schedule of R

PORTFOLIO LOANS - Schedule of Risk Grades Segregated by Category and Class of Portfolio Loans (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	$ 7,809,097	$ 7,651,034
Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	6,868,486	6,736,067
Watch
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	748,923	747,122
Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	102,792	96,057
Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	80,704	64,347
Substandard Non-accrual
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	8,192	7,441
Commercial loans
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	5,631,281	5,635,048
Commercial loans | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	4,706,801	4,737,796
Commercial loans | Watch
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	739,545	735,978
Commercial loans | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	101,920	95,033
Commercial loans | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	78,123	62,552
Commercial loans | Substandard Non-accrual
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	4,892	3,689
Commercial loans | C&I and other commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	1,877,497	1,835,994
Commercial loans | C&I and other commercial | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	1,535,598	1,462,755
Commercial loans | C&I and other commercial | Watch
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	257,892	296,416
Commercial loans | C&I and other commercial | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	38,374	46,488
Commercial loans | C&I and other commercial | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	41,291	27,733
Commercial loans | C&I and other commercial | Substandard Non-accrual
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	4,342	2,602
Commercial loans | Commercial and Retail Real Estate
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	3,355,807	3,337,337
Commercial loans | Commercial and Retail Real Estate | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	2,814,481	2,827,030
Commercial loans | Commercial and Retail Real Estate | Watch
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	454,016	431,427
Commercial loans | Commercial and Retail Real Estate | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	55,178	48,545
Commercial loans | Commercial and Retail Real Estate | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	31,582	29,492
Commercial loans | Commercial and Retail Real Estate | Substandard Non-accrual
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	550	843
Commercial loans | Real estate construction
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	397,977	461,717
Commercial loans | Real estate construction | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	356,722	448,011
Commercial loans | Real estate construction | Watch
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	27,637	8,135
Commercial loans | Real estate construction | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	8,368	0
Commercial loans | Real estate construction | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	5,250	5,327
Commercial loans | Real estate construction | Substandard Non-accrual
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	0	244
Retail loans
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	2,177,816	2,015,986
Retail loans | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	2,161,685	1,998,271
Retail loans | Watch
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	9,378	11,144
Retail loans | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	872	1,024
Retail loans | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	2,581	1,795
Retail loans | Substandard Non-accrual
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	3,300	3,752
Retail loans | Commercial and Retail Real Estate
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	1,708,771	1,720,455
Retail loans | Commercial and Retail Real Estate | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	1,692,828	1,702,897
Retail loans | Commercial and Retail Real Estate | Watch
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	9,378	11,144
Retail loans | Commercial and Retail Real Estate | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	872	1,024
Retail loans | Commercial and Retail Real Estate | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	2,581	1,795
Retail loans | Commercial and Retail Real Estate | Substandard Non-accrual
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	3,112	3,595
Retail loans | Retail other
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	469,045	295,531
Retail loans | Retail other | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	468,857	295,374
Retail loans | Retail other | Watch
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	0	0
Retail loans | Retail other | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	0	0
Retail loans | Retail other | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	0	0
Retail loans | Retail other | Substandard Non-accrual
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial loans	$ 188	$ 157

PORTFOLIO LOANS - Schedule of_2

PORTFOLIO LOANS - Schedule of Risk Grades of Portfolio Loans, Further Sorted by Origination (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	$ 815,118	$ 1,520,323
2024 / 2023, charge-off	7	289
2023 / 2022	1,232,108	1,785,798
2023 /2022, charge-off	15,010	76
2022 / 2021	1,579,811	1,552,072
2022 / 2021, charge-off	216	592
2021 / 2020	1,360,535	705,335
2021 / 2020, charge-off	94	34
2020 / 2019	646,636	468,659
2020 / 2019, charge-off	4	391
Prior	869,719	660,624
Prior, charge-off	1,079	3,036
Revolving Loans	1,305,170	958,223
Revolving Loans, charge-off	0	0
Total	7,809,097	7,651,034
Total, gross write-offs	16,410	4,418
Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Total	6,868,486	6,736,067
Watch
Financing Receivable, Credit Quality Indicator [Line Items]
Total	748,923	747,122
Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Total	102,792	96,057
Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total	80,704	64,347
Substandard Non-accrual
Financing Receivable, Credit Quality Indicator [Line Items]
Total	8,192	7,441
Commercial loans
Financing Receivable, Credit Quality Indicator [Line Items]
Total	5,631,281	5,635,048
Commercial loans | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Total	4,706,801	4,737,796
Commercial loans | Watch
Financing Receivable, Credit Quality Indicator [Line Items]
Total	739,545	735,978
Commercial loans | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Total	101,920	95,033
Commercial loans | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total	78,123	62,552
Commercial loans | Substandard Non-accrual
Financing Receivable, Credit Quality Indicator [Line Items]
Total	4,892	3,689
Commercial loans | C&I and other commercial
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	222,180	394,854
2024 / 2023, charge-off	0	284
2023 / 2022	267,608	295,539
2023 /2022, charge-off	14,980	0
2022 / 2021	233,705	184,527
2022 / 2021, charge-off	128	420
2021 / 2020	157,379	96,530
2021 / 2020, charge-off	22	0
2020 / 2019	80,836	47,510
2020 / 2019, charge-off	0	316
Prior	167,221	169,911
Prior, charge-off	303	1,409
Revolving Loans	748,568	647,123
Revolving Loans, charge-off	0	0
Total	1,877,497	1,835,994
Total, gross write-offs	15,433	2,429
Commercial loans | C&I and other commercial | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	168,607	306,578
2023 / 2022	223,091	220,847
2022 / 2021	177,527	159,130
2021 / 2020	135,226	71,025
2020 / 2019	78,049	35,927
Prior	132,258	143,078
Revolving Loans	620,840	526,170
Total	1,535,598	1,462,755
Commercial loans | C&I and other commercial | Watch
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	36,362	78,603
2023 / 2022	34,787	65,703
2022 / 2021	48,383	21,421
2021 / 2020	18,543	23,919
2020 / 2019	2,021	7,035
Prior	28,452	21,293
Revolving Loans	89,344	78,442
Total	257,892	296,416
Commercial loans | C&I and other commercial | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	1,574	792
2023 / 2022	2,431	8,224
2022 / 2021	6,417	2,917
2021 / 2020	2,897	1,076
2020 / 2019	315	686
Prior	2,648	3,274
Revolving Loans	22,092	29,519
Total	38,374	46,488
Commercial loans | C&I and other commercial | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	15,561	8,715
2023 / 2022	7,227	765
2022 / 2021	894	942
2021 / 2020	713	426
2020 / 2019	406	3,734
Prior	2,495	1,859
Revolving Loans	13,995	11,292
Total	41,291	27,733
Commercial loans | C&I and other commercial | Substandard Non-accrual
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	76	166
2023 / 2022	72	0
2022 / 2021	484	117
2021 / 2020	0	84
2020 / 2019	45	128
Prior	1,368	407
Revolving Loans	2,297	1,700
Total	4,342	2,602
Commercial loans | Commercial and Retail Real Estate
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	356,915	578,595
2024 / 2023, charge-off	0	0
2023 / 2022	519,001	882,350
2023 /2022, charge-off	0	0
2022 / 2021	886,166	844,293
2022 / 2021, charge-off	0	0
2021 / 2020	747,439	441,134
2021 / 2020, charge-off	0	0
2020 / 2019	407,930	344,373
2020 / 2019, charge-off	0	0
Prior	413,938	226,537
Prior, charge-off	315	953
Revolving Loans	24,418	20,055
Revolving Loans, charge-off	0	0
Total	3,355,807	3,337,337
Total, gross write-offs	315	953
Commercial loans | Commercial and Retail Real Estate | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	211,288	395,644
2023 / 2022	373,175	824,506
2022 / 2021	819,235	720,052
2021 / 2020	651,901	399,195
2020 / 2019	370,205	271,078
Prior	365,236	199,662
Revolving Loans	23,441	16,893
Total	2,814,481	2,827,030
Commercial loans | Commercial and Retail Real Estate | Watch
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	97,909	166,795
2023 / 2022	142,283	47,070
2022 / 2021	54,179	92,848
2021 / 2020	93,691	34,010
2020 / 2019	28,618	68,196
Prior	36,417	19,396
Revolving Loans	919	3,112
Total	454,016	431,427
Commercial loans | Commercial and Retail Real Estate | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	27,889	14,313
2023 / 2022	1,435	10,507
2022 / 2021	8,085	12,446
2021 / 2020	1,796	4,968
2020 / 2019	8,958	3,297
Prior	7,007	3,014
Revolving Loans	8	0
Total	55,178	48,545
Commercial loans | Commercial and Retail Real Estate | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	19,829	1,796
2023 / 2022	2,068	188
2022 / 2021	4,667	18,862
2021 / 2020	51	2,938
2020 / 2019	131	1,802
Prior	4,786	3,856
Revolving Loans	50	50
Total	31,582	29,492
Commercial loans | Commercial and Retail Real Estate | Substandard Non-accrual
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	0	47
2023 / 2022	40	79
2022 / 2021	0	85
2021 / 2020	0	23
2020 / 2019	18	0
Prior	492	609
Revolving Loans	0	0
Total	550	843
Commercial loans | Real estate construction
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	163,662	213,138
2024 / 2023, charge-off	0	0
2023 / 2022	134,856	132,868
2023 /2022, charge-off	0	0
2022 / 2021	14,450	85,593
2022 / 2021, charge-off	0	0
2021 / 2020	73,675	2,938
2021 / 2020, charge-off	0	0
2020 / 2019	2,344	1,364
2020 / 2019, charge-off	0	0
Prior	1,192	3,178
Prior, charge-off	0	0
Revolving Loans	7,798	22,638
Revolving Loans, charge-off	0	0
Total	397,977	461,717
Total, gross write-offs	0	0
Commercial loans | Real estate construction | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	156,726	204,952
2023 / 2022	120,079	128,462
2022 / 2021	14,450	85,086
2021 / 2020	54,133	2,616
2020 / 2019	2,344	1,323
Prior	1,192	2,934
Revolving Loans	7,798	22,638
Total	356,722	448,011
Commercial loans | Real estate construction | Watch
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	1,686	2,859
2023 / 2022	6,471	4,406
2022 / 2021	0	507
2021 / 2020	19,480	322
2020 / 2019	0	41
Prior	0	0
Revolving Loans	0	0
Total	27,637	8,135
Commercial loans | Real estate construction | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	0
2023 / 2022	8,306
2022 / 2021	0
2021 / 2020	62
2020 / 2019	0
Prior	0
Revolving Loans	0
Total	8,368	0
Commercial loans | Real estate construction | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	5,250	5,327
2023 / 2022	0	0
2022 / 2021	0	0
2021 / 2020	0	0
2020 / 2019	0	0
Prior	0	0
Revolving Loans	0	0
Total	5,250	5,327
Commercial loans | Real estate construction | Substandard Non-accrual
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	0	0
2023 / 2022	0	0
2022 / 2021	0	0
2021 / 2020	0	0
2020 / 2019	0	0
Prior	0	244
Revolving Loans	0	0
Total	0	244
Retail loans
Financing Receivable, Credit Quality Indicator [Line Items]
Total	2,177,816	2,015,986
Retail loans | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Total	2,161,685	1,998,271
Retail loans | Watch
Financing Receivable, Credit Quality Indicator [Line Items]
Total	9,378	11,144
Retail loans | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Total	872	1,024
Retail loans | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total	2,581	1,795
Retail loans | Substandard Non-accrual
Financing Receivable, Credit Quality Indicator [Line Items]
Total	3,300	3,752
Retail loans | Commercial and Retail Real Estate
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	67,906	244,851
2024 / 2023, charge-off	0	0
2023 / 2022	245,197	382,017
2023 /2022, charge-off	0	5
2022 / 2021	378,716	414,578
2022 / 2021, charge-off	0	0
2021 / 2020	367,026	158,032
2021 / 2020, charge-off	0	29
2020 / 2019	151,967	70,815
2020 / 2019, charge-off	0	72
Prior	286,159	260,142
Prior, charge-off	159	301
Revolving Loans	211,800	190,020
Revolving Loans, charge-off	0	0
Total	1,708,771	1,720,455
Total, gross write-offs	159	407
Retail loans | Commercial and Retail Real Estate | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	66,952	243,400
2023 / 2022	244,309	376,922
2022 / 2021	374,402	411,723
2021 / 2020	363,006	156,762
2020 / 2019	150,835	70,099
Prior	283,136	256,571
Revolving Loans	210,188	187,420
Total	1,692,828	1,702,897
Retail loans | Commercial and Retail Real Estate | Watch
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	804	1,096
2023 / 2022	634	4,137
2022 / 2021	2,780	2,442
2021 / 2020	3,419	954
2020 / 2019	891	536
Prior	130	234
Revolving Loans	720	1,745
Total	9,378	11,144
Retail loans | Commercial and Retail Real Estate | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	150	286
2023 / 2022	0	358
2022 / 2021	347	0
2021 / 2020	0	0
2020 / 2019	0	0
Prior	375	380
Revolving Loans	0	0
Total	872	1,024
Retail loans | Commercial and Retail Real Estate | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	0	69
2023 / 2022	254	72
2022 / 2021	1,028	292
2021 / 2020	509	49
2020 / 2019	0	80
Prior	786	997
Revolving Loans	4	236
Total	2,581	1,795
Retail loans | Commercial and Retail Real Estate | Substandard Non-accrual
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	0	0
2023 / 2022	0	528
2022 / 2021	159	121
2021 / 2020	92	267
2020 / 2019	241	100
Prior	1,732	1,960
Revolving Loans	888	619
Total	3,112	3,595
Retail loans | Retail other
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	4,455	88,885
2024 / 2023, charge-off	7	5
2023 / 2022	65,446	93,024
2023 /2022, charge-off	30	71
2022 / 2021	66,774	23,081
2022 / 2021, charge-off	88	172
2021 / 2020	15,016	6,701
2021 / 2020, charge-off	72	5
2020 / 2019	3,559	4,597
2020 / 2019, charge-off	4	3
Prior	1,209	856
Prior, charge-off	302	373
Revolving Loans	312,586	78,387
Revolving Loans, charge-off	0	0
Total	469,045	295,531
Total, gross write-offs	503	629
Retail loans | Retail other | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	4,455	88,885
2023 / 2022	65,336	92,931
2022 / 2021	66,707	23,019
2021 / 2020	15,016	6,701
2020 / 2019	3,559	4,597
Prior	1,198	854
Revolving Loans	312,586	78,387
Total	468,857	295,374
Retail loans | Retail other | Watch
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	0
2023 / 2022	0
2022 / 2021	0
2021 / 2020	0
2020 / 2019	0
Prior	0
Revolving Loans	0
Total	0	0
Retail loans | Retail other | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	0
2023 / 2022	0
2022 / 2021	0
2021 / 2020	0
2020 / 2019	0
Prior	0
Revolving Loans	0
Total	0	0
Retail loans | Retail other | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	0
2023 / 2022	0
2022 / 2021	0
2021 / 2020	0
2020 / 2019	0
Prior	0
Revolving Loans	0
Total	0	0
Retail loans | Retail other | Substandard Non-accrual
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	0	0
2023 / 2022	110	93
2022 / 2021	67	62
2021 / 2020	0	0
2020 / 2019	0	0
Prior	11	2
Revolving Loans	0	0
Total	$ 188	$ 157

PORTFOLIO LOANS - Schedule of P

PORTFOLIO LOANS - Schedule of Past Due and Non-accrual Loans (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Financing Receivable, Past Due [Line Items]
Commercial loans	$ 7,809,097	$ 7,651,034
90+ days past due and still accruing	25	375
Non-accrual Loans	8,192	7,441
30 to 59 days past due and still accruing
Financing Receivable, Past Due [Line Items]
Commercial loans	9,431	4,443
60 to 89 days past due and still accruing
Financing Receivable, Past Due [Line Items]
Commercial loans	710	1,336
Commercial loans
Financing Receivable, Past Due [Line Items]
Commercial loans	5,631,281	5,635,048
90+ days past due and still accruing	0	0
Non-accrual Loans	4,892	3,689
Commercial loans | 30 to 59 days past due and still accruing
Financing Receivable, Past Due [Line Items]
Commercial loans	2,888	776
Commercial loans | 60 to 89 days past due and still accruing
Financing Receivable, Past Due [Line Items]
Commercial loans	10	214
Commercial loans | C&I and other commercial
Financing Receivable, Past Due [Line Items]
Commercial loans	1,877,497	1,835,994
90+ days past due and still accruing	0	0
Non-accrual Loans	4,342	2,602
Commercial loans | C&I and other commercial | 30 to 59 days past due and still accruing
Financing Receivable, Past Due [Line Items]
Commercial loans	1,579	0
Commercial loans | C&I and other commercial | 60 to 89 days past due and still accruing
Financing Receivable, Past Due [Line Items]
Commercial loans	0	214
Commercial loans | Commercial and Retail Real Estate
Financing Receivable, Past Due [Line Items]
Commercial loans	3,355,807	3,337,337
90+ days past due and still accruing	0	0
Non-accrual Loans	550	843
Commercial loans | Commercial and Retail Real Estate | 30 to 59 days past due and still accruing
Financing Receivable, Past Due [Line Items]
Commercial loans	1,286	752
Commercial loans | Commercial and Retail Real Estate | 60 to 89 days past due and still accruing
Financing Receivable, Past Due [Line Items]
Commercial loans	10	0
Commercial loans | Real estate construction
Financing Receivable, Past Due [Line Items]
Commercial loans	397,977	461,717
90+ days past due and still accruing	0	0
Non-accrual Loans	0	244
Commercial loans | Real estate construction | 30 to 59 days past due and still accruing
Financing Receivable, Past Due [Line Items]
Commercial loans	23	24
Commercial loans | Real estate construction | 60 to 89 days past due and still accruing
Financing Receivable, Past Due [Line Items]
Commercial loans	0	0
Retail loans
Financing Receivable, Past Due [Line Items]
Commercial loans	2,177,816	2,015,986
90+ days past due and still accruing	25	375
Non-accrual Loans	3,300	3,752
Retail loans | 30 to 59 days past due and still accruing
Financing Receivable, Past Due [Line Items]
Commercial loans	6,543	3,667
Retail loans | 60 to 89 days past due and still accruing
Financing Receivable, Past Due [Line Items]
Commercial loans	700	1,122
Retail loans | Commercial and Retail Real Estate
Financing Receivable, Past Due [Line Items]
Commercial loans	1,708,771	1,720,455
90+ days past due and still accruing	25	366
Non-accrual Loans	3,112	3,595
Retail loans | Commercial and Retail Real Estate | 30 to 59 days past due and still accruing
Financing Receivable, Past Due [Line Items]
Commercial loans	4,423	2,781
Retail loans | Commercial and Retail Real Estate | 60 to 89 days past due and still accruing
Financing Receivable, Past Due [Line Items]
Commercial loans	620	927
Retail loans | Retail other
Financing Receivable, Past Due [Line Items]
Commercial loans	469,045	295,531
90+ days past due and still accruing	0	9
Non-accrual Loans	188	157
Retail loans | Retail other | 30 to 59 days past due and still accruing
Financing Receivable, Past Due [Line Items]
Commercial loans	2,120	886
Retail loans | Retail other | 60 to 89 days past due and still accruing
Financing Receivable, Past Due [Line Items]
Commercial loans	$ 80	$ 195

PORTFOLIO LOANS - Schedule of L

PORTFOLIO LOANS - Schedule of Loan Modifications for Borrowers Experiencing Financial Difficulty (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Payment Deferral
Loans identified as impaired
Amortized cost basis	$ 325		$ 325	$ 225
% of total class of financing receivable	0%		0%	0%
Payment Deferral | Commercial loans | C&I and other commercial
Loans identified as impaired
Amortized cost basis	$ 325		$ 325	$ 0
% of total class of financing receivable	0%		0%	0%
Payment Deferral | Commercial loans | Commercial and Retail Real Estate
Loans identified as impaired
Amortized cost basis	$ 0		$ 0	$ 225
% of total class of financing receivable	0%		0%	0%
Payment Deferral | Commercial loans | Real estate construction
Loans identified as impaired
Amortized cost basis	$ 0		$ 0	$ 0
% of total class of financing receivable	0%		0%	0%
Interest Rate Reduction
Loans identified as impaired
Amortized cost basis		$ 880		$ 880
% of total class of financing receivable		0%		0%
Interest Rate Reduction | Commercial loans | C&I and other commercial
Loans identified as impaired
Amortized cost basis		$ 0		$ 0
% of total class of financing receivable		0%		0%
Interest Rate Reduction | Commercial loans | Commercial and Retail Real Estate
Loans identified as impaired
Amortized cost basis		$ 880		$ 880
% of total class of financing receivable		0%		0%
Interest Rate Reduction | Commercial loans | Real estate construction
Loans identified as impaired
Amortized cost basis				$ 0
% of total class of financing receivable				0%
Term Extension
Loans identified as impaired
Amortized cost basis	$ 38,235	$ 12,579	$ 53,105	$ 23,690
% of total class of financing receivable	0.50%	0.20%	0.70%	0.30%
Term Extension | Commercial loans | C&I and other commercial
Loans identified as impaired
Amortized cost basis	$ 14,537	$ 12,026	$ 28,073	$ 17,334
% of total class of financing receivable	0.80%	0.60%	1.50%	0.90%
Term Extension | Commercial loans | Commercial and Retail Real Estate
Loans identified as impaired
Amortized cost basis	$ 18,448	$ 553	$ 19,782	$ 1,003
% of total class of financing receivable	0.50%	0%	0.60%	0%
Term Extension | Commercial loans | Real estate construction
Loans identified as impaired
Amortized cost basis	$ 5,250		$ 5,250	$ 5,353
% of total class of financing receivable	1.30%		1.30%	1%

PORTFOLIO LOANS - Schedule of t

PORTFOLIO LOANS - Schedule of the Financial Effect of Loan Modifications (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Loans identified as impaired
Weighted Average Term Extension	5 months 6 days	15 months	9 months 15 days	13 months 21 days
Weighted Average Interest Rate Reduction		2.50%		2.50%
Commercial loans | C&I and other commercial
Loans identified as impaired
Weighted Average Term Extension	6 months 9 days	15 months 9 days	14 months 3 days	14 months 9 days
Commercial loans | Commercial and Retail Real Estate
Loans identified as impaired
Weighted Average Term Extension	4 months 3 days	9 months	3 months 27 days	11 months 6 days
Weighted Average Interest Rate Reduction		2.50%		2.50%
Commercial loans | Real estate construction
Loans identified as impaired
Weighted Average Term Extension	6 months		6 months	12 months

PORTFOLIO LOANS - Schedule of_3

PORTFOLIO LOANS - Schedule of Performance of Modified Loans (Details) $ in Thousands	Sep. 30, 2024 USD ($)
Loans identified as impaired
Non-accrual	$ 0
Current
Loans identified as impaired
Amortized cost of modified loans	54,879
30-89 Days
Loans identified as impaired
Amortized cost of modified loans	0
90+ Days
Loans identified as impaired
Amortized cost of modified loans	0
Commercial loans | C&I and other commercial
Loans identified as impaired
Non-accrual	0
Commercial loans | C&I and other commercial | Current
Loans identified as impaired
Amortized cost of modified loans	29,547
Commercial loans | C&I and other commercial | 30-89 Days
Loans identified as impaired
Amortized cost of modified loans	0
Commercial loans | C&I and other commercial | 90+ Days
Loans identified as impaired
Amortized cost of modified loans	0
Commercial loans | Commercial and Retail Real Estate
Loans identified as impaired
Non-accrual	0
Commercial loans | Commercial and Retail Real Estate | Current
Loans identified as impaired
Amortized cost of modified loans	20,082
Commercial loans | Commercial and Retail Real Estate | 30-89 Days
Loans identified as impaired
Amortized cost of modified loans	0
Commercial loans | Commercial and Retail Real Estate | 90+ Days
Loans identified as impaired
Amortized cost of modified loans	0
Commercial loans | Real estate construction
Loans identified as impaired
Non-accrual	0
Commercial loans | Real estate construction | Current
Loans identified as impaired
Amortized cost of modified loans	5,250
Commercial loans | Real estate construction | 30-89 Days
Loans identified as impaired
Amortized cost of modified loans	0
Commercial loans | Real estate construction | 90+ Days
Loans identified as impaired
Amortized cost of modified loans	$ 0

PORTFOLIO LOANS - Schedule of_4

PORTFOLIO LOANS - Schedule of Loans with Subsequent Defaults (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($)
Payment Deferral
Loans identified as impaired
Amortized cost of modified loans with subsequent defaults	$ 225
Payment Deferral | Commercial loans | C&I and other commercial
Loans identified as impaired
Amortized cost of modified loans with subsequent defaults	0
Payment Deferral | Commercial loans | Commercial and Retail Real Estate
Loans identified as impaired
Amortized cost of modified loans with subsequent defaults	225
Term Extension
Loans identified as impaired
Amortized cost of modified loans with subsequent defaults	500
Term Extension | Commercial loans | C&I and other commercial
Loans identified as impaired
Amortized cost of modified loans with subsequent defaults	500
Term Extension | Commercial loans | Commercial and Retail Real Estate
Loans identified as impaired
Amortized cost of modified loans with subsequent defaults	$ 0

PORTFOLIO LOANS - Schedule of_5

PORTFOLIO LOANS - Schedule of Loans Evaluated Individually, Segregated by Loan Category and Class (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Financing Receivable, Troubled Debt Restructuring [Line Items]
Unpaid Principal Balance	$ 8,337	$ 10,096
Recorded investment with no allowance	2,250	1,256
Recorded investment with allowance	2,479	1,895
Total recorded investment	4,729	3,151
Related Allowance	1,863	895
Average Recorded Investment	6,609	9,948
Commercial loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Unpaid Principal Balance	8,337	9,883
Recorded investment with no allowance	2,250	1,195
Recorded investment with allowance	2,479	1,870
Total recorded investment	4,729	3,065
Related Allowance	1,863	870
Average Recorded Investment	6,542	9,158
Commercial loans | C&I and other commercial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Unpaid Principal Balance	7,821	7,283
Recorded investment with no allowance	1,758	585
Recorded investment with allowance	2,479	1,785
Total recorded investment	4,237	2,370
Related Allowance	1,863	785
Average Recorded Investment	5,379	5,244
Commercial loans | Commercial and Retail Real Estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Unpaid Principal Balance	516	2,600
Recorded investment with no allowance	492	610
Recorded investment with allowance	0	85
Total recorded investment	492	695
Related Allowance	0	85
Average Recorded Investment	1,163	3,865
Commercial loans | Real estate construction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Unpaid Principal Balance		0
Recorded investment with no allowance		0
Recorded investment with allowance		0
Total recorded investment		0
Related Allowance		0
Average Recorded Investment		49
Retail loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Unpaid Principal Balance	0	213
Recorded investment with no allowance	0	61
Recorded investment with allowance	0	25
Total recorded investment	0	86
Related Allowance	0	25
Average Recorded Investment	67	790
Retail loans | Commercial and Retail Real Estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Unpaid Principal Balance	0	213
Recorded investment with no allowance	0	61
Recorded investment with allowance	0	25
Total recorded investment	0	86
Related Allowance	0	25
Average Recorded Investment	$ 67	$ 790

PORTFOLIO LOANS - Schedule of A

PORTFOLIO LOANS - Schedule of Activity on the Allowance for Loan Losses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Activity in the allowance for loan losses
ACL beginning balance	$ 85,226	$ 91,639	$ 91,740	$ 91,608
Day 1 PCD			1,243
Provision for credit losses	2	364	7,317	1,944
Charged-off	(674)	(1,115)	(16,410)	(3,643)
Recoveries	427	822	1,091	1,801
ACL ending balance	84,981	91,710	84,981	91,710
Commercial loans
Activity in the allowance for loan losses
ACL beginning balance			61,884
ACL ending balance	58,515		58,515
Commercial loans | C&I and other commercial
Activity in the allowance for loan losses
ACL beginning balance	20,286	24,510	21,256	23,860
Day 1 PCD			824
Provision for credit losses	715	(1,306)	13,958	79
Charged-off	(202)	(758)	(15,433)	(1,733)
Recoveries	210	187	404	427
ACL ending balance	21,009	22,633	21,009	22,633
Commercial loans | Commercial and Retail Real Estate
Activity in the allowance for loan losses
ACL beginning balance	35,104	33,656	35,465	38,299
Day 1 PCD			322
Provision for credit losses	(1,158)	745	(1,882)	(3,006)
Charged-off	(215)	(102)	(315)	(1,175)
Recoveries	4	392	145	573
ACL ending balance	33,735	34,691	33,735	34,691
Commercial loans | Real estate construction
Activity in the allowance for loan losses
ACL beginning balance	3,722	5,071	5,163	6,457
Day 1 PCD			0
Provision for credit losses	39	104	(1,449)	(1,404)
Charged-off	0	0	0	0
Recoveries	10	31	57	153
ACL ending balance	3,771	5,206	3,771	5,206
Retail loans
Activity in the allowance for loan losses
ACL beginning balance			29,856
ACL ending balance	26,466		26,466
Retail loans | Commercial and Retail Real Estate
Activity in the allowance for loan losses
ACL beginning balance	23,729	24,675	26,298	18,193
Day 1 PCD			96
Provision for credit losses	120	674	(2,624)	6,975
Charged-off	(32)	(144)	(159)	(252)
Recoveries	162	128	368	417
ACL ending balance	23,979	25,333	23,979	25,333
Retail loans | Retail other
Activity in the allowance for loan losses
ACL beginning balance	2,385	3,727	3,558	4,799
Day 1 PCD			1
Provision for credit losses	286	147	(686)	(700)
Charged-off	(225)	(111)	(503)	(483)
Recoveries	41	84	117	231
ACL ending balance	$ 2,487	$ 3,847	$ 2,487	$ 3,847

PORTFOLIO LOANS - Schedule of_6

PORTFOLIO LOANS - Schedule of ACL and Amortized Cost of Portfolio Loans by Loan Category (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Portfolio Loans
Collectively Evaluated for Impairment	$ 7,804,368		$ 7,647,883
Individually Evaluated for Impairment	4,729		3,151
Total	7,809,097		7,651,034
ACL Attributed to Portfolio Loans
Collectively Evaluated for Impairment	83,118		90,845
Individually Evaluated for Impairment	1,863		895
Total	84,981	$ 85,226	91,740	$ 91,710	$ 91,639	$ 91,608
Commercial loans
Portfolio Loans
Collectively Evaluated for Impairment	5,626,552		5,631,983
Individually Evaluated for Impairment	4,729		3,065
Total	5,631,281		5,635,048
ACL Attributed to Portfolio Loans
Collectively Evaluated for Impairment	56,652		61,014
Individually Evaluated for Impairment	1,863		870
Total	58,515		61,884
Commercial loans | C&I and other commercial
Portfolio Loans
Collectively Evaluated for Impairment	1,873,260		1,833,624
Individually Evaluated for Impairment	4,237		2,370
Total	1,877,497		1,835,994
ACL Attributed to Portfolio Loans
Collectively Evaluated for Impairment	19,146		20,471
Individually Evaluated for Impairment	1,863		785
Total	21,009	20,286	21,256	22,633	24,510	23,860
Commercial loans | Commercial and Retail Real Estate
Portfolio Loans
Collectively Evaluated for Impairment	3,355,315		3,336,642
Individually Evaluated for Impairment	492		695
Total	3,355,807		3,337,337
ACL Attributed to Portfolio Loans
Collectively Evaluated for Impairment	33,735		35,380
Individually Evaluated for Impairment	0		85
Total	33,735	35,104	35,465	34,691	33,656	38,299
Commercial loans | Real estate construction
Portfolio Loans
Collectively Evaluated for Impairment	397,977		461,717
Individually Evaluated for Impairment	0		0
Total	397,977		461,717
ACL Attributed to Portfolio Loans
Collectively Evaluated for Impairment	3,771		5,163
Individually Evaluated for Impairment	0		0
Total	3,771	3,722	5,163	5,206	5,071	6,457
Retail loans
Portfolio Loans
Collectively Evaluated for Impairment	2,177,816		2,015,900
Individually Evaluated for Impairment	0		86
Total	2,177,816		2,015,986
ACL Attributed to Portfolio Loans
Collectively Evaluated for Impairment	26,466		29,831
Individually Evaluated for Impairment	0		25
Total	26,466		29,856
Retail loans | Commercial and Retail Real Estate
Portfolio Loans
Collectively Evaluated for Impairment	1,708,771		1,720,369
Individually Evaluated for Impairment	0		86
Total	1,708,771		1,720,455
ACL Attributed to Portfolio Loans
Collectively Evaluated for Impairment	23,979		26,273
Individually Evaluated for Impairment	0		25
Total	23,979	23,729	26,298	25,333	24,675	18,193
Retail loans | Retail other
Portfolio Loans
Collectively Evaluated for Impairment	469,045		295,531
Individually Evaluated for Impairment	0		0
Total	469,045		295,531
ACL Attributed to Portfolio Loans
Collectively Evaluated for Impairment	2,487		3,558
Individually Evaluated for Impairment	0		0
Total	$ 2,487	$ 2,385	$ 3,558	$ 3,847	$ 3,727	$ 4,799

LEASES - Schedule of Lease-Rela

LEASES - Schedule of Lease-Related Balances (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Leases [Abstract]
Right of use assets	$ 11,100	$ 11,027
Lease liabilities	$ 11,470	$ 11,308
Weighted average remaining lease term	7 years 7 months 13 days	8 years 4 months 20 days
Weighted average discount rate	3.74%	3.59%

LEASES - Schedule of Lease Cost

LEASES - Schedule of Lease Costs and Other Lease Information (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Lease costs
Operating lease costs	$ 608		$ 615	$ 1,702	$ 1,836
Variable lease costs	15		9	43	27
Short-term lease costs	12		15	70	37
Total lease cost	635		639	1,815	1,900
Cash flows related to leases
Operating lease cash flows – Fixed payments	568		586	1,605	1,720
Operating lease cash flows – Liability reduction	466		483	1,310	1,423
Right of use assets obtained during the period in exchange for operating lease liabilities	$ 469		$ 199	1,478	$ 208
Merchants and Manufacturers Bank Corporation
Cash flows related to leases
Right of use assets obtained during the period in exchange for operating lease liabilities				$ 300
Additional right of use assets obtained during the period in exchange for operating lease liabilities		$ 700

LEASES - Schedule of Future Und

LEASES - Schedule of Future Undiscounted Lease Payments (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Rent commitments
Remainder of 2024	$ 590
2025	2,088
2026	1,766
2027	1,549
2028	1,494
2029	1,503
Thereafter	4,303
Total undiscounted cash flows	13,293
Less: Amounts representing interest	1,823
Present value of net future minimum lease payments	$ 11,470	$ 11,308

LEASES - Schedule of Revenue Re

LEASES - Schedule of Revenue Recorded in Connection with Leases (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Leases [Abstract]
Rental income	$ 206	$ 152	$ 612	$ 526

LEASES - Schedule of Future Min

LEASES - Schedule of Future Minimum Lease Payments (Details) $ in Thousands	Sep. 30, 2024 USD ($)
Rents to be received
Remainder of 2024	$ 207
2025	665
2026	503
2027	301
2028	185
Total lease payments from operating leases	$ 1,861

DEPOSITS - Schedule of Composit

DEPOSITS - Schedule of Composition of Deposits (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Deposits [Abstract]
Noninterest-bearing demand deposits	$ 2,683,543	$ 2,834,655
Interest-bearing transaction deposits	2,455,217	2,717,139
Saving deposits and money market deposits	3,284,556	2,920,088
Time deposits	1,519,925	1,819,274
Total deposits	9,943,241	10,291,156
Brokered savings deposits and money market deposits	6,001	6,001
Brokered time deposits	7,088	285
Aggregate amount of time deposits with a minimum denomination of $100,000	873,754	1,072,189
Aggregate amount of time deposits with a minimum denomination that meets or exceeds the FDIC insurance limit of $250,000	$ 338,808	$ 386,286

DEPOSITS - Schedule of Maturiti

DEPOSITS - Schedule of Maturities of Time Deposits (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Time deposits by schedule of maturities
Remainder of 2024	$ 547,111
2025	914,253
2026	30,592
2027	13,689
2028	8,715
2029	5,116
Thereafter	449
Time deposits	$ 1,519,925	$ 1,819,274

BORROWINGS - Schedule of Securi

BORROWINGS - Schedule of Securities Sold Under Agreements to Repurchase (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Debt Disclosure [Abstract]
Securities sold under agreements to repurchase	$ 128,429	$ 187,396
Weighted average rate for securities sold under agreements to repurchase	2.77%	3.26%

BORROWINGS - Term Loan and Revo

BORROWINGS - Term Loan and Revolving Line of Credit (Details) - USD ($)			3 Months Ended
	Apr. 30, 2022	May 28, 2021	Mar. 31, 2024	Sep. 30, 2024
Revolving Credit Facility
Short-Term Debt [Line Items]
Issuance of debt		$ 40,000,000
Balance outstanding				$ 0
Term Loan
Short-Term Debt [Line Items]
Issuance of debt		$ 60,000,000
Repayment of term loan			$ 30,000,000
Term loan carried interest rate (as a percent)			7.13%
One-month LIBOR rate | Term Loan
Short-Term Debt [Line Items]
Floating interest rate margin (as a percent)		1.75%
Secured Overnight Financing Rate (SOFR) | Term Loan
Short-Term Debt [Line Items]
Floating interest rate margin (as a percent)	1.80%

BORROWINGS - Schedule of Short-

BORROWINGS - Schedule of Short-term Borrowings (Details) - USD ($)	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Short-Term Debt [Line Items]
Total short-term debt	$ 0	$ 12,000,000
Federal funds purchased	$ 0	0
Minimum
Short-Term Debt [Line Items]
Short-term borrowings, mature period	1 day
Maximum
Short-Term Debt [Line Items]
Short-term borrowings, mature period	90 days
Term Loan, current portion due within 12 months
Short-Term Debt [Line Items]
Total short-term debt	$ 0	$ 12,000,000

BORROWINGS - Schedule of Long-t

BORROWINGS - Schedule of Long-term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Total long-term debt	$ 0	$ 18,000
Term Loan
Debt Instrument [Line Items]
Total long-term debt	$ 0	$ 18,000

BORROWINGS - Subordinated Notes

BORROWINGS - Subordinated Notes (Details) - Subordinated Debt - USD ($) $ in Millions	Apr. 01, 2024	Jun. 02, 2022	Jun. 01, 2020	Sep. 30, 2024
5.25% Notes Maturing June 1, 2030
Debt Instrument [Line Items]
Issuance of debt			$ 125
Interest rate			5.25%
Duration of fixed interest rate			5 years
Floating interest rate margin (as a percent)			5.11%
5.000% Notes Maturing June 15, 2032
Debt Instrument [Line Items]
Issuance of debt		$ 100
Floating interest rate margin (as a percent)		2.52%
Fixed to floating interest rate (as a percent)		5%
Percentage of principal amount of notes		100%
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]		Secured Overnight Financing Rate (SOFR)
5.25% Notes Maturing December 4, 2030 | Merchants and Manufacturers Bank Corporation
Debt Instrument [Line Items]
Issuance of debt	$ 4
Floating interest rate margin (as a percent)	4.97%
Fixed to floating interest rate (as a percent)	5.25%
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]	Secured Overnight Financing Rate (SOFR)
Fair value discount outstanding				$ 0.1

BORROWINGS - Schedule of Unamor

BORROWINGS - Schedule of Unamortized Debt Issuance Cost (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Total unamortized debt issuance costs	$ 1,454	$ 2,118
Subordinated notes issued in 2020 | Subordinated Debt
Debt Instrument [Line Items]
Total unamortized debt issuance costs	353	735
Subordinated notes issued in 2022 | Subordinated Debt
Debt Instrument [Line Items]
Total unamortized debt issuance costs	$ 1,101	$ 1,383

REGULATORY CAPITAL - Schedule o

REGULATORY CAPITAL - Schedule of Regulatory Capital Requirements Applicable to Busey and Busey Bank (Details) $ in Thousands	Sep. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
Common Equity Tier 1 Capital to Risk Weighted Assets, Amount
Actual	$ 1,219,574	$ 1,155,973
Minimum Capital Requirement	398,365	397,331
Minimum To Be Well Capitalized	$ 575,416	$ 573,923
Common Equity Tier 1 Capital to Risk Weighted Assets, Ratio
Actual	0.1378	0.1309
Minimum Capital Requirement	0.0450	0.0450
Minimum To Be Well Capitalized	0.0650	0.0650
Tier 1 Capital to Risk Weighted Assets, Amount
Actual	$ 1,296,574	$ 1,229,973
Minimum Capital Requirement	531,153	529,775
Minimum To Be Well Capitalized	$ 708,204	$ 706,367
Tier 1 Capital to Risk Weighted Assets, Ratio
Actual	0.1465	0.1393
Minimum Capital Requirement	0.0600	0.0600
Minimum To Be Well Capitalized	0.0800	0.0800
Total Capital to Risk Weighted Assets, Amount
Actual	$ 1,610,247	$ 1,540,318
Minimum Capital Requirement	708,204	706,367
Minimum To Be Well Capitalized	$ 885,255	$ 882,958
Total Capital to Risk Weighted Assets, Ratio
Actual	0.1819	0.1744
Minimum Capital Requirement	0.0800	0.0800
Minimum To Be Well Capitalized	0.1000	0.1000
Leverage Ratio of Tier 1 Capital to Average Assets, Amount
Actual	$ 1,296,574	$ 1,229,973
Minimum Capital Requirement	$ 472,629	$ 488,315
Leverage Ratio of Tier 1 Capital to Average Assets, Ratio
Actual	0.1097	0.1008
Minimum Capital Requirement	0.0400	0.0400
Busey Bank
Common Equity Tier 1 Capital to Risk Weighted Assets, Amount
Actual	$ 1,425,762	$ 1,362,962
Minimum Capital Requirement	396,739	396,128
Minimum To Be Well Capitalized	$ 573,068	$ 572,185
Common Equity Tier 1 Capital to Risk Weighted Assets, Ratio
Actual	0.1617	0.1548
Minimum Capital Requirement	0.0450	0.0450
Minimum To Be Well Capitalized	0.0650	0.0650
Tier 1 Capital to Risk Weighted Assets, Amount
Actual	$ 1,425,762	$ 1,362,962
Minimum Capital Requirement	528,985	528,171
Minimum To Be Well Capitalized	$ 705,314	$ 704,228
Tier 1 Capital to Risk Weighted Assets, Ratio
Actual	0.1617	0.1548
Minimum Capital Requirement	0.0600	0.0600
Minimum To Be Well Capitalized	0.0800	0.0800
Total Capital to Risk Weighted Assets, Amount
Actual	$ 1,510,436	$ 1,448,307
Minimum Capital Requirement	705,314	704,228
Minimum To Be Well Capitalized	$ 881,642	$ 880,285
Total Capital to Risk Weighted Assets, Ratio
Actual	0.1713	0.1645
Minimum Capital Requirement	0.0800	0.0800
Minimum To Be Well Capitalized	0.1000	0.1000
Leverage Ratio of Tier 1 Capital to Average Assets, Amount
Actual	$ 1,425,762	$ 1,362,962
Minimum Capital Requirement	471,202	487,103
Minimum To Be Well Capitalized	$ 589,003	$ 608,879
Leverage Ratio of Tier 1 Capital to Average Assets, Ratio
Actual	0.1210	0.1119
Minimum Capital Requirement	0.0400	0.0400
Minimum To Be Well Capitalized	0.0500	0.0500

REGULATORY CAPITAL - Narrative

REGULATORY CAPITAL - Narrative (Details)	Sep. 30, 2024
Banking and Thrift, Other Disclosure [Abstract]
Common equity Tier 1 capital to risk-weighted assets of at least 7.0%, amount exceeded	0.0678
Tier 1 capital to risk-weighted assets of at least 8.5%, amount exceeded	0.0615
Total capital to risk-weighted assets of at least 10.5%, amount exceeded	0.0769

TAX CREDIT AND OTHER INVESTME_3

TAX CREDIT AND OTHER INVESTMENTS IN UNCONSOLIDATED ENTITIES (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024	Dec. 31, 2023
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated entities	$ 136,364	$ 136,364	$ 127,068
Deferred Income Taxes and Other Assets [Abstract]
Income tax credits and other tax benefits	4,040	11,941
Amortization of investments in tax-advantaged projects	3,575	10,593
Funded investments | Other assets
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated entities	68,164	68,164	68,516
Unfunded investments | Other assets
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated entities	68,200	68,200	58,552
Unfunded investments | Other liabilities
Schedule of Equity Method Investments [Line Items]
Unfunded investment obligations	$ 68,200	$ 68,200	$ 58,552

STOCK-BASED COMPENSATION - Sche

STOCK-BASED COMPENSATION - Schedule of Changes in the Company's Stock Option Awards (Details) - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Shares
Outstanding at beginning of year (in shares)	21,266
Exercised (in shares)	(440)
Forfeited (in shares)	(3,520)
Outstanding at end of year (in shares)	17,306	21,266
Exercisable at end of year (in shares)	17,306
Weighted- Average Exercise Price
Outstanding at beginning of year (in dollars per share)	$ 23.53
Exercised (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
Weighted- Average Remaining Contractual Life
Weighted-average remaining contractual life, options outstanding	2 years 1 month 17 days	2 years 10 months 17 days
Weighted-average remaining contractual life, exercisable at end of year	2 years 1 month 17 days

STOCK-BASED COMPENSATION - 2020

STOCK-BASED COMPENSATION - 2020 Equity Plan (Details) - shares	Apr. 14, 2023	Sep. 30, 2024
Amended 2020 Equity Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Increase in the number of shares authorized for issuance (in shares)	1,350,000
2020 Equity Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Remaining shares available for issuance (in shares)		1,311,251

STOCK-BASED COMPENSATION - RSU,

STOCK-BASED COMPENSATION - RSU, PSU, and DSU Narrative (Details) - USD ($) $ in Millions					9 Months Ended	12 Months Ended
	May 22, 2025	Mar. 20, 2025	May 22, 2024	Mar. 20, 2024	Sep. 30, 2024	Dec. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Period over which cost will be recognized					2 years 6 months	2 years 4 months 24 days
RSU Awards
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares of common stock per award (in shares)					1
Granted (in shares)					202,043
RSU Awards | Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Requisite service periods					1 year
RSU Awards | Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Requisite service periods					5 years
RSU Awards | Management | 2020 Equity Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Granted (in shares)			12,864	189,179
Grant date fair value of the award			$ 0.3	$ 4.4
Period over which cost will be recognized			3 years
RSU Awards | Management | 2020 Equity Plan | Forecast
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting percentage	100%	100%
RSU Awards | Management | 2020 Equity Plan | Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Requisite service periods			1 year	1 year
Period over which cost will be recognized				1 year
RSU Awards | Management | 2020 Equity Plan | Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Period over which cost will be recognized				5 years
PSU Awards
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares of common stock per award (in shares)					1
Granted (in shares)					189,208
DSU Awards
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares of common stock per award (in shares)					1
Granted (in shares)					35,847
Vesting period					1 year
Settlement period					30 days
DSU Awards | Directors and Advisory Directors | 2020 Equity Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Granted (in shares)				35,847
Grant date fair value of the award				$ 0.8
Period over which cost will be recognized				1 year
Vesting percentage				100%
Market Based Performance Stock Units | 2020 Equity Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Granted (in shares)				94,604
Grant date fair value of the award				$ 2
Market Based Performance Stock Units | 2020 Equity Plan | Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting percentage				0%
Market Based Performance Stock Units | 2020 Equity Plan | Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Granted (in shares)				151,366
Vesting percentage				160%
Performance Based Performance Stock Units | 2020 Equity Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Granted (in shares)				94,604
Grant date fair value of the award				$ 2.2
Performance Based Performance Stock Units | 2020 Equity Plan | Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting percentage				0%
Performance Based Performance Stock Units | 2020 Equity Plan | Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Granted (in shares)				151,366
Vesting percentage				160%

STOCK-BASED COMPENSATION - Sc_2

STOCK-BASED COMPENSATION - Schedule of Changes in the Company's RSU, PSU, and DSU Awards (Details)	3 Months Ended	9 Months Ended
	Mar. 31, 2024 $ / shares shares	Sep. 30, 2024 $ / shares shares
RSU Awards
Shares
Non-vested at beginning of period (in shares) | shares	1,041,444	1,041,444
Granted (in shares) | shares		202,043
Dividend equivalents earned (in shares) | shares		32,239
Vested (in shares) | shares		(172,822)
Forfeited (in shares) | shares		(13,692)
Non-vested at end of period (in shares) | shares		1,089,212
Weighted- Average Grant Date Fair Value
Non-vested at beginning of period (in dollars per share) | $ / shares	$ 22.05	$ 22.05
Granted (in dollars per share) | $ / shares		23.35
Dividend equivalents earned (in dollars per share) | $ / shares		24.92
Vested (in dollars per share) | $ / shares		25.72
Forfeited (in dollars per share) | $ / shares		23.28
Non-vested at end of period (in dollars per share) | $ / shares		$ 21.77
PSU Awards
Shares
Non-vested at beginning of period (in shares) | shares	341,700	341,700
Granted (in shares) | shares		189,208
Dividend equivalents earned (in shares) | shares		4,264
Vested (in shares) | shares		(4,264)
Forfeited (in shares) | shares		(6,306)
Non-vested at end of period (in shares) | shares		524,602
Weighted- Average Grant Date Fair Value
Non-vested at beginning of period (in dollars per share) | $ / shares	$ 22.67	$ 22.67
Granted (in dollars per share) | $ / shares		22.32
Dividend equivalents earned (in dollars per share) | $ / shares		22.95
Vested (in dollars per share) | $ / shares		22.95
Forfeited (in dollars per share) | $ / shares		22.43
Non-vested at end of period (in dollars per share) | $ / shares		$ 22.54
Performance shares target percentage	0.50
DSU Awards
Shares
Non-vested at beginning of period (in shares) | shares	43,026	43,026
Granted (in shares) | shares		35,847
Dividend equivalents earned (in shares) | shares		6,032
Vested (in shares) | shares		(47,351)
Forfeited (in shares) | shares		(1,025)
Non-vested at end of period (in shares) | shares		36,529
Vested and outstanding at end of period (in shares) | shares		183,124
Weighted- Average Grant Date Fair Value
Non-vested at beginning of period (in dollars per share) | $ / shares	$ 20.41	$ 20.41
Granted (in dollars per share) | $ / shares		23.35
Dividend equivalents earned (in dollars per share) | $ / shares		25.02
Vested (in dollars per share) | $ / shares		20.92
Forfeited (in dollars per share) | $ / shares		20.44
Non-vested at end of period (in dollars per share) | $ / shares		23.39
Vested and outstanding at end of period (in dollars per share) | $ / shares		$ 22.84

STOCK-BASED COMPENSATION - Empl

STOCK-BASED COMPENSATION - Employee Stock Purchase Plan and Stock-based Compensation Expense (Details) - USD ($)		3 Months Ended		9 Months Ended
	Jul. 01, 2021	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock option compensation expense		$ 2,291,000	$ 2,603,000	$ 5,828,000	$ 6,928,000
Options
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock option compensation expense		$ 0	$ 0	0	$ 0
Unrecognized stock option compensation expense				$ 0
Employee Stock Purchase Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Discount through voluntary payroll deductions	15%
Remaining shares available for issuance (in shares)	600,000	406,700		406,700

STOCK-BASED COMPENSATION - Sc_3

STOCK-BASED COMPENSATION - Schedule of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total stock-based compensation expense	$ 2,291	$ 2,603	$ 5,828	$ 6,928
RSU Awards
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total stock-based compensation expense	1,057	1,177	3,012	3,428
PSU Awards
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total stock-based compensation expense	976	1,180	2,037	2,724
DSU Awards
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total stock-based compensation expense	211	213	615	620
ESPP
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total stock-based compensation expense	$ 47	$ 33	$ 164	$ 156

STOCK-BASED COMPENSATION - Sc_4

STOCK-BASED COMPENSATION - Schedule of Unamortized Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total unamortized stock-based compensation	$ 12,727	$ 10,639
Weighted average period over which expense is to be recognized	2 years 6 months	2 years 4 months 24 days
RSU Awards
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total unamortized stock-based compensation	$ 8,267	$ 6,842
PSU Awards
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total unamortized stock-based compensation	4,068	3,607
DSU Awards
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total unamortized stock-based compensation	$ 392	$ 190

OUTSTANDING COMMITMENTS AND C_3

OUTSTANDING COMMITMENTS AND CONTINGENT LIABILITIES (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Credit Commitments and Contingencies
Total commitments	$ 2,540,339	$ 2,176,496
Commitments to extend credit
Credit Commitments and Contingencies
Total commitments	2,503,727	2,132,500
Standby letters of credit
Credit Commitments and Contingencies
Total commitments	$ 36,612	$ 43,996

DERIVATIVE FINANCIAL INSTRUME_3

DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of Financial Instruments Owned and Pledged as Collateral (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Cash pledged to secure obligations under derivative contracts
Derivative [Line Items]
Cash pledged to secure obligations	$ 17,270	$ 34,210
Collateral held to secure obligations under derivative contracts
Derivative [Line Items]
Cash pledged to secure obligations	$ 9,380	$ 19,280

DERIVATIVE FINANCIAL INSTRUME_4

DERIVATIVE FINANCIAL INSTRUMENTS - Narrative (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2024 USD ($) swap	Sep. 30, 2024 USD ($) swap	Dec. 31, 2023 USD ($)
Interest Rate Swap | Designated as Hedging Instrument
Derivative [Line Items]
Notional amount	$ 300,000	$ 300,000
Number of interest rate swaps entered into during period | swap	1	1
Interest Rate Swap | Designated as Hedging Instrument | SOFR
Derivative [Line Items]
Notional amount	$ 100,000	$ 100,000
Interest Rate Swap | Not Designated as Hedging Instrument
Derivative [Line Items]
Variable rate, commercial loans that are supported by the interest rate swap contracts	711,200	711,200	$ 663,100
Interest Rate Swap | Cash Flow Hedging | Designated as Hedging Instrument
Derivative [Line Items]
Notional amount	400,000	400,000	350,000
Debt Swap | Cash Flow Hedging
Derivative [Line Items]
Notional amount	$ 0	$ 0	$ 50,000

DERIVATIVE FINANCIAL INSTRUME_5

DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of the Interest-Rate Swaps Designated as Cash Flow Hedges (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Interest Rate Swap
Balances carried in AOCI
Unrealized gains (losses) on cash flow hedges, net of tax	$ 0	$ 0	$ 0	$ 0
Cash Flow Hedging | Interest Rate Swap
Balances carried in AOCI
Unrealized gains (losses) on cash flow hedges, net of tax			(11,487)		$ (16,694)
Cash Flow Hedging | Interest Rate Swap | Other assets
Gross aggregate fair value of the swaps
Gross aggregate fair value of swap assets	2,332		2,332		1,293
Cash Flow Hedging | Interest Rate Swap | Other liabilities
Gross aggregate fair value of the swaps
Gross aggregate fair value of swap liabilities	19,176		19,176		25,411
Cash Flow Hedging | Debt Swap
Derivative [Line Items]
Notional amount	$ 0		$ 0		$ 50,000
Weighted average rate: pay/ receive-fixed	0%		0%		1.79%
Weighted average variable interest rates	0%		0%		5.61%
Weighted average maturity					8 months 15 days
Cash Flow Hedging | Prime Loan Swap
Derivative [Line Items]
Notional amount	$ 300,000		$ 300,000		$ 300,000
Weighted average rate: pay/ receive-fixed	4.81%		4.81%		4.81%
Weighted average variable interest rates	8.25%		8.25%		8.50%
Weighted average maturity			4 years 4 months 6 days		5 years 1 month 6 days
Cash Flow Hedging | SOFR Loan Swap
Derivative [Line Items]
Notional amount	$ 100,000		$ 100,000		$ 0
Weighted average rate: pay/ receive-fixed	3.72%		3.72%		0%
Weighted average maturity			4 years 5 months 4 days

DERIVATIVE FINANCIAL INSTRUME_6

DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of Reclassification of Unrealized Gains and Losses from OCI (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)
Interest Rate Swap | Cash Flow Hedging | Interest Income
Derivative [Line Items]
Unrealized losses expected to be reclassified from OCI to interest income	$ (859)

DERIVATIVE FINANCIAL INSTRUME_7

DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of Interest Income (Expense) Recorded on Swap Transactions (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Derivative [Line Items]
(Increase) decrease in interest expense on swap transactions	$ (51,959)	$ (44,878)	$ (151,332)	$ (108,355)
Net interest income	82,541	77,791	240,742	242,318
Interest Rate Swap | Cash Flow Hedging
Derivative [Line Items]
Increase (decrease) in interest income on swap transactions	(2,776)	(2,771)	(8,366)	(7,500)
(Increase) decrease in interest expense on swap transactions	412	481	1,378	1,268
Net interest income	$ (2,364)	$ (2,290)	$ (6,988)	$ (6,232)

DERIVATIVE FINANCIAL INSTRUME_8

DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of Net Gains (Losses) Recorded in AOCI (Details) - Cash Flow Hedging - Interest Rate Contract - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Derivative [Line Items]
Net gain (loss) recognized in OCI, net of tax	$ 7,439	$ (5,577)	$ 211	$ (8,563)
(Gain) loss reclassified from OCI to interest income, net of tax	1,984	1,982	5,981	5,362
(Gain) loss reclassified from OCI to interest expense, net of tax	(294)	(344)	(985)	(906)
Net change in unrealized gains (losses) on cash flow hedges, net of tax	$ 9,129	$ (3,939)	$ 5,207	$ (4,107)

DERIVATIVE FINANCIAL INSTRUME_9

DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of Interest Rate Swaps Not Designated as Hedges (Details) - Not Designated as Hedging Instrument - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Interest Rate Swap
Derivative assets not designated as hedging instruments
Notional Amount	$ 711,154	$ 663,136
Fair Value	25,378	28,664
Derivative liabilities not designated as hedging instruments
Notional Amount	711,154	663,136
Fair Value	25,378	28,664
Interest rate swaps: receive-fixed, pay-floating
Derivative assets not designated as hedging instruments
Notional Amount	333,545	177,883
Fair Value	6,730	2,375
Derivative liabilities not designated as hedging instruments
Notional Amount	377,609	485,253
Fair Value	18,648	26,289
Interest rate swaps: receive-floating, pay-fixed
Derivative assets not designated as hedging instruments
Notional Amount	377,609	485,253
Fair Value	18,648	26,289
Derivative liabilities not designated as hedging instruments
Notional Amount	333,545	177,883
Fair Value	$ 6,730	$ 2,375

DERIVATIVE FINANCIAL INSTRUM_10

DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of Interest Rate Swaps Recorded in Noninterest Expense (Details) - Interest Rate Swap - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Derivative [Line Items]
Net change in fair value of interest rate swaps	$ 0	$ 0	$ 0	$ 0
Noninterest expense
Derivative [Line Items]
Gain (loss), receive-fixed, pay-floating	(9,224)	9,007	(3,050)	4,646
Gain (loss), receive-floating, pay-fixed	$ 9,224	$ (9,007)	$ 3,050	$ (4,646)

DERIVATIVE FINANCIAL INSTRUM_11

DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of Risk Participation Agreement (Details) $ in Thousands	Sep. 30, 2024 USD ($) agreement	Dec. 31, 2023 USD ($) agreement
Risk participation agreements purchased
Derivative [Line Items]
Number of risk participation agreements | agreement	6	3
Notional amount	$ 41,110	$ 34,251
Fair value	$ 16	$ 15
Risk participation agreements sold
Derivative [Line Items]
Number of risk participation agreements | agreement	0	1
Notional amount	$ 0	$ 20,001
Fair value	$ 0	$ 0

DERIVATIVE FINANCIAL INSTRUM_12

DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of Mortgage Banking Derivatives (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
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	$ 4,666	$ 3,477
Fair value recorded in other assets	76	25
Mortgage banking derivative liabilities
Notional Amount	309	1,615
Fair value recorded in other liabilities	2	10
Forward sales commitments
Mortgage banking derivative assets
Notional Amount	3,887	1,761
Fair value recorded in other assets	9	11
Mortgage banking derivative liabilities
Notional Amount	10,430	5,216
Fair value recorded in other liabilities	80	47
Mortgage banking derivative assets | Designated as Hedging Instrument
Mortgage banking derivative assets
Notional Amount	8,553	5,238
Fair value recorded in other assets	85	36
Mortgage banking derivative liabilities
Notional Amount	10,739	6,831
Fair value recorded in other liabilities	$ 82	$ 57

DERIVATIVE FINANCIAL INSTRUM_13

DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of Net Gains (Losses) Relating to Derivative Instruments (Details) - Designated as Hedging Instrument - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Derivative [Line Items]
Net gains (losses) on mortgage banking derivatives	$ 30	$ 44	$ 404	$ 64
Interest rate lock commitments
Derivative [Line Items]
Net gains (losses) on mortgage banking derivatives	121	(16)	569	(28)
Forward sales commitments
Derivative [Line Items]
Net gains (losses) on mortgage banking derivatives	$ (91)	$ 60	$ (165)	$ 92

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	Sep. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available for sale	$ 1,818,117	$ 2,087,571
Equity securities	10,315	9,812
U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available for sale	250	15,946
Obligations of U.S. government corporations and agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available for sale	1,508	5,832
Obligations of states and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available for sale	155,052	172,845
Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available for sale	405,372	468,223
Commercial mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available for sale	94,279	103,509
Residential mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available for sale	1,002,167	1,111,312
Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available for sale	159,489	209,904
Fair Value, Recurring | Derivative assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	27,811	30,008
Fair Value, Recurring | Derivative liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	44,636	54,132
Fair Value, Recurring | U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available for sale	250	15,946
Fair Value, Recurring | Obligations of U.S. government corporations and agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available for sale	1,508	5,832
Fair Value, Recurring | Obligations of states and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available for sale	155,052	172,845
Fair Value, Recurring | Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available for sale	405,372	468,223
Fair Value, Recurring | Commercial mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available for sale	94,279	103,509
Fair Value, Recurring | Residential mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available for sale	1,002,167	1,111,312
Fair Value, Recurring | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available for sale	159,489	209,904
Fair Value, Recurring | Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	10,315	9,812
Fair Value, Recurring | Level 1 Inputs | Derivative assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	0	0
Fair Value, Recurring | Level 1 Inputs | Derivative liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	0	0
Fair Value, Recurring | Level 1 Inputs | U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available for sale	0	0
Fair Value, Recurring | Level 1 Inputs | Obligations of U.S. government corporations and agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available for sale	0	0
Fair Value, Recurring | Level 1 Inputs | Obligations of states and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available for sale	0	0
Fair Value, Recurring | Level 1 Inputs | Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available for sale	0	0
Fair Value, Recurring | Level 1 Inputs | Commercial mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available for sale	0	0
Fair Value, Recurring | Level 1 Inputs | Residential mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available for sale	0	0
Fair Value, Recurring | Level 1 Inputs | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available for sale	0	0
Fair Value, Recurring | Level 1 Inputs | Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	40	448
Fair Value, Recurring | Level 2 Inputs | Derivative assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	27,795	29,993
Fair Value, Recurring | Level 2 Inputs | Derivative liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	44,636	54,132
Fair Value, Recurring | Level 2 Inputs | U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available for sale	250	15,946
Fair Value, Recurring | Level 2 Inputs | Obligations of U.S. government corporations and agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available for sale	1,508	5,832
Fair Value, Recurring | Level 2 Inputs | Obligations of states and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available for sale	155,052	172,845
Fair Value, Recurring | Level 2 Inputs | Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available for sale	405,372	468,223
Fair Value, Recurring | Level 2 Inputs | Commercial mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available for sale	94,279	103,509
Fair Value, Recurring | Level 2 Inputs | Residential mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available for sale	1,002,167	1,111,312
Fair Value, Recurring | Level 2 Inputs | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available for sale	159,489	209,904
Fair Value, Recurring | Level 2 Inputs | Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	10,275	9,364
Fair Value, Recurring | Level 3 Inputs | Derivative assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	16	15
Fair Value, Recurring | Level 3 Inputs | Derivative liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	0	0
Fair Value, Recurring | Level 3 Inputs | U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available for sale	0	0
Fair Value, Recurring | Level 3 Inputs | Obligations of U.S. government corporations and agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available for sale	0	0
Fair Value, Recurring | Level 3 Inputs | Obligations of states and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available for sale	0	0
Fair Value, Recurring | Level 3 Inputs | Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available for sale	0	0
Fair Value, Recurring | Level 3 Inputs | Commercial mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available for sale	0	0
Fair Value, Recurring | Level 3 Inputs | Residential mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available for sale	0	0
Fair Value, Recurring | Level 3 Inputs | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available for sale	0	0
Fair Value, Recurring | Level 3 Inputs | Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	$ 0	$ 0

FAIR VALUE MEASUREMENTS - Sch_2

FAIR VALUE MEASUREMENTS - Schedule of Activity for Financial Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other noninterest expense	Other noninterest expense	Other noninterest expense	Other noninterest expense
Fair Value, Recurring | Level 3 Inputs
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value, beginning balance	$ 8	$ 15	$ 15	$ 5
Gains (losses) recognized in earnings	(5)	(8)	(15)	(68)
Purchases	13	0	16	70
Fair value, ending balance	$ 16	$ 7	$ 16	$ 7

FAIR VALUE MEASUREMENTS - Sch_3

FAIR VALUE MEASUREMENTS - Schedule of Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans evaluated individually, net of related allowance	$ 4,729	$ 3,151
Fair Value, Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans evaluated individually, net of related allowance	616	1,000
Bank property held for sale with impairment	3,205	4,286
Level 1 Inputs | Fair Value, Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans evaluated individually, net of related allowance	0	0
Bank property held for sale with impairment	0	0
Level 2 Inputs | Fair Value, Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans evaluated individually, net of related allowance	0	0
Bank property held for sale with impairment	0	0
Level 3 Inputs | Fair Value, Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans evaluated individually, net of related allowance	616	1,000
Bank property held for sale with impairment	$ 3,205	$ 4,286

FAIR VALUE MEASUREMENTS - Sch_4

FAIR VALUE MEASUREMENTS - Schedule of Quantitative Information About Level 3 Fair Value Measurements (Details) $ in Thousands	Sep. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
Fair Value
Loans evaluated individually, net of related allowance	$ 4,729	$ 3,151
Fair Value, Nonrecurring
Fair Value
Loans evaluated individually, net of related allowance	616	1,000
Bank property held for sale with impairment	3,205	4,286
Fair Value, Nonrecurring | Level 3 Inputs
Fair Value
Loans evaluated individually, net of related allowance	616	1,000
Bank property held for sale with impairment	3,205	4,286
Fair Value, Nonrecurring | Level 3 Inputs | Appraisal of collateral
Fair Value
Loans evaluated individually, net of related allowance	616	1,000
Fair Value, Nonrecurring | Level 3 Inputs | Appraisal of collateral or real estate listing price
Fair Value
Bank property held for sale with impairment	$ 3,205	$ 4,286
Fair Value, Nonrecurring | Measurement Input, Comparability Adjustment | Level 3 Inputs | Appraisal of collateral | Minimum
Range (Weighted Average)
Loans evaluated individually, net of related allowance	(0.250)	(0.412)
Fair Value, Nonrecurring | Measurement Input, Comparability Adjustment | Level 3 Inputs | Appraisal of collateral | Maximum
Range (Weighted Average)
Loans evaluated individually, net of related allowance	(1)	(1)
Fair Value, Nonrecurring | Measurement Input, Comparability Adjustment | Level 3 Inputs | Appraisal of collateral | Weighted Average
Range (Weighted Average)
Loans evaluated individually, net of related allowance	(0.752)	(0.472)
Fair Value, Nonrecurring | Measurement Input, Comparability Adjustment | Level 3 Inputs | Appraisal of collateral or real estate listing price | Minimum
Range (Weighted Average)
Bank property held for sale with impairment	(0.090)	(0.062)
Fair Value, Nonrecurring | Measurement Input, Comparability Adjustment | Level 3 Inputs | Appraisal of collateral or real estate listing price | Maximum
Range (Weighted Average)
Bank property held for sale with impairment	(0.767)	(0.649)
Fair Value, Nonrecurring | Measurement Input, Comparability Adjustment | Level 3 Inputs | Appraisal of collateral or real estate listing price | Weighted Average
Range (Weighted Average)
Bank property held for sale with impairment	(0.506)	(0.384)

FAIR VALUE MEASUREMENTS - Sch_5

FAIR VALUE MEASUREMENTS - Schedule of Estimated Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Financial assets
Debt securities held to maturity	$ 712,369	$ 730,397
Portfolio loans, net	7,724,116	7,559,294
Financial liabilities
Short-term borrowings	0	12,000
Junior subordinated debt owed to unconsolidated trusts	74,754	71,993
Level 1 Inputs | Carrying Amount
Financial assets
Cash and cash equivalents	553,709	719,581
Level 1 Inputs | Fair Value
Financial assets
Cash and cash equivalents	553,709	719,581
Level 2 Inputs | Carrying Amount
Financial assets
Debt securities held to maturity	838,883	872,628
Loans held for sale	11,523	2,379
Accrued interest receivable	48,822	45,288
Financial liabilities
Time deposits	1,519,925	1,819,274
Securities sold under agreements to repurchase	128,429	187,396
Short-term borrowings	0	12,000
Long-term debt	0	18,000
Junior subordinated debt owed to unconsolidated trusts	74,754	71,993
Accrued interest payable	33,447	28,418
Level 2 Inputs | Fair Value
Financial assets
Debt securities held to maturity	712,369	730,397
Loans held for sale	11,810	2,401
Accrued interest receivable	48,822	45,288
Financial liabilities
Time deposits	1,511,069	1,804,905
Securities sold under agreements to repurchase	128,429	187,396
Short-term borrowings	0	12,034
Long-term debt	0	18,020
Junior subordinated debt owed to unconsolidated trusts	61,840	57,153
Accrued interest payable	33,447	28,418
Level 3 Inputs | Carrying Amount
Financial assets
Portfolio loans, net	7,724,116	7,559,294
Mortgage servicing rights	1,008	3,289
Other servicing rights	1,479	1,597
Level 3 Inputs | Fair Value
Financial assets
Portfolio loans, net	7,597,736	7,276,905
Mortgage servicing rights	4,963	18,079
Other servicing rights	1,505	2,062
Level 3 Inputs | Subordinated Debt | Carrying Amount
Financial liabilities
Long-term debt	227,482	222,882
Level 3 Inputs | Subordinated Debt | Fair Value
Financial liabilities
Long-term debt	$ 216,713	$ 200,000

EARNINGS PER COMMON SHARE - Sch

EARNINGS PER COMMON SHARE - Schedule of Computation of Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Net income per share calculations for basic and diluted methods
Net income	$ 32,004	$ 30,666	$ 85,586	$ 96,816
Weighted Average Shares Outstanding
Weighted average number of common shares outstanding, basic (in shares)	57,033,359	55,486,700	56,458,430	55,441,980
Weighted average number of common shares outstanding, diluted (in shares)	57,967,848	56,315,492	57,411,299	56,230,624
Basic earnings per common share (in dollars per share)	$ 0.56	$ 0.55	$ 1.52	$ 1.75
Diluted earnings per common share (in dollars per share)	$ 0.55	$ 0.54	$ 1.49	$ 1.72
Options
Weighted Average Shares Outstanding
Dilutive effect of common stock equivalents (in shares)	1,714	0	572	0
Warrants
Weighted Average Shares Outstanding
Dilutive effect of common stock equivalents (in shares)	0	0	0	432
RSU Awards
Weighted Average Shares Outstanding
Dilutive effect of common stock equivalents (in shares)	655,224	640,714	662,609	638,495
PSU Awards
Weighted Average Shares Outstanding
Dilutive effect of common stock equivalents (in shares)	254,365	165,868	264,451	126,787
DSU Awards
Weighted Average Shares Outstanding
Dilutive effect of common stock equivalents (in shares)	16,766	16,792	18,390	14,996
ESPP
Weighted Average Shares Outstanding
Dilutive effect of common stock equivalents (in shares)	6,420	5,418	6,847	7,934

EARNINGS PER COMMON SHARE - S_2

EARNINGS PER COMMON SHARE - Schedule of Average Shares Excluded From Computation of Diluted Earnings Per Common Share (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive common stock equivalents (in shares)	107,065	107,000	120,073	212,731
Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive common stock equivalents (in shares)	0	21,926	12,784	22,219
RSU Awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive common stock equivalents (in shares)	0	0	4,288	52,594
PSU Awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive common stock equivalents (in shares)	107,065	85,074	103,001	137,918

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 1,333,810	$ 1,201,948	$ 1,271,981	$ 1,145,977
Unrealized/Unrecognized gains (losses) on debt securities
Unrealized holding gains (losses) on debt securities available for sale, net, net of tax	39,286	(26,950)	34,810	(16,872)
Amounts reclassified from AOCI, net, net of tax	8	24	4,874	148
Amortization of unrealized losses on securities transferred to held to maturity, net of tax	990	1,056	2,999	3,379
Unrealized gains (losses) on cash flow hedges
Unrealized holding gains (losses) on cash flow hedges, net, net of tax	7,439	(5,577)	211	(8,563)
Amounts reclassified from AOCI, net, net of tax	1,690	1,638	4,996	4,456
Ending balance	1,402,884	1,190,158	1,402,884	1,190,158
Total stockholders’ equity	1,402,884	1,190,158	1,402,884	1,190,158
AOCI
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(220,326)	(260,921)	(218,803)	(273,278)
Unrealized gains (losses) on cash flow hedges
Accumulated other comprehensive income (loss) ending balance period, before tax	(239,054)	(406,639)	(239,054)	(406,639)
Accumulated other comprehensive income (loss) ending balance period, tax effect	68,141	115,909	68,141	115,909
Ending balance	(170,913)	(290,730)	(170,913)	(290,730)
Total stockholders’ equity	(170,913)	(290,730)	(170,913)	(290,730)
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	(279,334)	(335,359)	(282,688)	(352,878)
Accumulated other comprehensive income (loss) beginning balance period, tax effect	79,624	95,591	80,579	100,585
Beginning balance	(199,710)	(239,768)	(202,109)	(252,293)
Unrealized/Unrecognized gains (losses) on debt securities
Unrealized holding gains (losses) on debt securities available for sale, net, before tax	54,950	(37,696)	48,688	(23,600)
Unrealized holding gains (losses) on debt securities available for sale, net, tax effect	(15,664)	10,746	(13,878)	6,728
Unrealized holding gains (losses) on debt securities available for sale, net, net of tax	39,286	(26,950)	34,810	(16,872)
Amounts reclassified from AOCI, net, before tax	11	33	6,817	207
Amounts reclassified from AOCI, net, tax effect	(3)	(9)	(1,943)	(59)
Amounts reclassified from AOCI, net, net of tax	8	24	4,874	148
Amortization of unrealized losses on securities transferred to held to maturity, before tax	1,384	1,476	4,194	4,725
Amortization of unrealized losses on securities transferred to held to maturity, tax effect	(394)	(420)	(1,195)	(1,346)
Amortization of unrealized losses on securities transferred to held to maturity, net of tax	990	1,056	2,999	3,379
Unrealized gains (losses) on cash flow hedges
Accumulated other comprehensive income (loss) ending balance period, before tax	(222,989)	(371,546)	(222,989)	(371,546)
Accumulated other comprehensive income (loss) ending balance period, tax effect	63,563	105,908	63,563	105,908
Ending balance	(159,426)	(265,638)	(159,426)	(265,638)
Total stockholders’ equity	(159,426)	(265,638)	(159,426)	(265,638)
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	(28,833)	(29,586)	(23,348)	(29,350)
Accumulated other comprehensive income (loss) beginning balance period, tax effect	8,217	8,433	6,654	8,365
Beginning balance	(20,616)	(21,153)	(16,694)	(20,985)
Unrealized gains (losses) on cash flow hedges
Unrealized holding gains (losses) on cash flow hedges, net, before tax	10,404	(7,797)	295	(11,975)
Unrealized holding gains (losses) on cash flow hedges, net, tax effect	(2,965)	2,220	(84)	3,412
Unrealized holding gains (losses) on cash flow hedges, net, net of tax	7,439	(5,577)	211	(8,563)
Amounts reclassified from AOCI, net, before tax	2,364	2,290	6,988	6,232
Amounts reclassified from AOCI, net, tax effect	(674)	(652)	(1,992)	(1,776)
Amounts reclassified from AOCI, net, net of tax	1,690	1,638	4,996	4,456
Accumulated other comprehensive income (loss) ending balance period, before tax	(16,065)	(35,093)	(16,065)	(35,093)
Accumulated other comprehensive income (loss) ending balance period, tax effect	4,578	10,001	4,578	10,001
Ending balance	(11,487)	(25,092)	(11,487)	(25,092)
Total stockholders’ equity	$ (11,487)	$ (25,092)	$ (11,487)	$ (25,092)

OPERATING SEGMENTS AND RELATE_3

OPERATING SEGMENTS AND RELATED INFORMATION - Narrative (Details)	9 Months Ended
	Sep. 30, 2024 bankingCenter segment
Segment Reporting [Abstract]
Number of reportable segments	3
Number of operating segments	3
Number of banking centers consolidated | bankingCenter	62

OPERATING SEGMENTS AND RELATE_4

OPERATING SEGMENTS AND RELATED INFORMATION - Schedule of Information Relating to Operating Segments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Segment Reporting Information [Line Items]
Goodwill	$ 333,498		$ 333,498		$ 317,873
Total Assets	11,986,839		11,986,839		12,283,415
Net interest income	82,541	$ 77,791	240,742	$ 242,318
Noninterest income	35,951	31,008	104,752	90,868
Noninterest expense	75,926	70,945	222,232	210,553
Income before income taxes	42,564	37,490	115,945	120,689
Net income	32,004	30,666	85,586	96,816
Operating segment | Banking
Segment Reporting Information [Line Items]
Goodwill	310,398		310,398		294,773
Total Assets	11,806,647		11,806,647		12,125,298
Net interest income	86,425	81,794	252,200	254,394
Noninterest income	14,056	11,983	39,962	34,716
Noninterest expense	56,740	55,172	167,724	163,314
Income before income taxes	43,739	38,241	117,121	123,852
Net income	33,221	31,189	86,410	98,689
Operating segment | Wealth Management
Segment Reporting Information [Line Items]
Goodwill	14,108		14,108		14,108
Total Assets	119,801		119,801		103,147
Noninterest income	16,169	14,350	47,989	43,993
Noninterest expense	8,777	8,059	26,704	24,821
Income before income taxes	7,392	6,291	21,285	19,172
Net income	5,618	4,781	16,177	14,571
Operating segment | FirsTech
Segment Reporting Information [Line Items]
Goodwill	8,992		8,992		8,992
Total Assets	51,474		51,474		51,600
Net interest income	12	14	37	41
Noninterest income	5,551	5,665	17,700	16,954
Noninterest expense	5,648	5,245	17,666	16,303
Income before income taxes	(85)	434	71	692
Net income	(61)	317	53	505
Intersegment Eliminations
Segment Reporting Information [Line Items]
Goodwill	0		0		0
Total Assets	8,917		8,917		$ 3,370
Net interest income	(3,896)	(4,017)	(11,495)	(12,117)
Noninterest income	175	(990)	(899)	(4,795)
Noninterest expense	4,761	2,469	10,138	6,115
Income before income taxes	(8,482)	(7,476)	(22,532)	(23,027)
Net income	$ (6,774)	$ (5,621)	$ (17,054)	$ (16,949)