First Busey (BUSE) 10-K 27 Feb 25 2024 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Feb. 27, 2025	Jun. 28, 2024
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	0-15950
Entity Registrant Name	FIRST BUSEY CORPORATION
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	37-1078406
Entity Address, Address Line One	100 W. University Avenue
Entity Address, City or Town	Champaign
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	61820
City Area Code	217
Local Phone Number	365-4544
Title of 12(b) Security	Common Stock ($0.001 par value)
Trading Symbol	BUSE
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Public Float			$ 1,280
Entity Common Stock, Shares Outstanding		56,958,853
Documents Incorporated by Reference	Portions of the definitive Proxy Statement for the 2025 Annual Meeting of Stockholders of First Busey Corporation to be held May 29, 2025, are incorporated by reference in this Form 10-K in response to Part III.
Entity Central Index Key	0000314489
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Amendment Flag	false

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2024
Audit Information [Abstract]
Auditor Firm ID	49
Auditor Name	RSM US LLP
Auditor Location	Champaign, Illinois

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Cash and cash equivalents:
Cash and due from banks	$ 129,444	$ 134,680
Interest-bearing deposits	568,215	584,901
Total cash and cash equivalents	697,659	719,581
Debt securities available for sale	1,810,221	2,087,571
Debt securities held to maturity	826,630	872,628
Equity securities	15,862	9,812
Loans held for sale	3,657	2,379
Portfolio loans (net of ACL of $83,404 at December 31, 2024; $91,740 at December 31, 2023)	7,613,683	7,559,294
Restricted bank stock	49,930	6,000
Premises and equipment, net	118,820	122,594
Right of use assets	10,608	11,027
Goodwill	333,695	317,873
Other intangible assets, net	32,280	35,991
Cash surrender value of bank owned life insurance	185,087	182,975
Other assets	348,590	355,690
Total assets	12,046,722	12,283,415
Deposits:
Noninterest-bearing	2,719,907	2,834,655
Interest-bearing	7,262,583	7,456,501
Total deposits	9,982,490	10,291,156
Securities sold under agreements to repurchase	155,610	187,396
Short-term borrowings	0	12,000
Long-term debt	0	18,000
Subordinated notes, net of unamortized issuance costs	227,723	222,882
Junior subordinated debt owed to unconsolidated trusts	74,815	71,993
Lease liabilities	11,040	11,308
Other liabilities	211,775	196,699
Total liabilities	10,663,453	11,011,434
Outstanding commitments and contingent liabilities (see Notes 7 and 18)
Stockholders’ equity
Common stock, ($0.001 par value; 100,000,000 shares authorized)	60	58
Additional paid-in capital	1,360,530	1,323,595
Retained earnings	294,054	237,197
AOCI	(207,039)	(218,803)
Total stockholders’ equity before treasury stock	1,447,605	1,342,047
Treasury stock at cost	(64,336)	(70,066)
Total stockholders’ equity	1,383,269	1,271,981
Total liabilities and stockholders’ equity	$ 12,046,722	$ 12,283,415
Shares
Common shares issued (in shares)	59,546,273	58,116,969
Less: Treasury shares (in shares)	(2,650,292)	(2,872,850)
Common shares outstanding (in shares)	56,895,981	55,244,119

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Portfolio loans, allowance for credit losses	$ 83,404	$ 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 - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Interest income
Interest and fees on loans	$ 426,422	$ 385,848	$ 287,477
Interest and dividends on investment securities:
Taxable interest income	72,794	80,316	66,140
Non-taxable interest income	1,176	2,678	3,272
Dividend income on bank stock	848	1,170	190
Other interest income	22,441	10,531	3,097
Total interest income	523,681	480,543	360,176
Interest expense
Deposits	178,463	123,985	16,112
Federal funds purchased and securities sold under agreements to repurchase	4,308	5,203	1,475
Short-term borrowings	701	12,775	1,647
Long-term debt	300	1,700	1,310
Senior notes	0	0	637
Subordinated notes	12,650	12,406	12,338
Junior subordinated debt owed to unconsolidated trusts	4,648	3,853	3,029
Total interest expense	201,070	159,922	36,548
Net interest income	322,611	320,621	323,628
Provision for credit losses	8,590	2,399	4,623
Net interest income after provision for credit losses	314,021	318,222	319,005
Noninterest income
Mortgage revenue	2,075	1,089	1,895
Income on bank owned life insurance	5,130	4,701	3,663
Realized net gains (losses) on the sale of mortgage servicing rights	7,724	0	0
Realized net gains (losses) on securities	(7,033)	(28)	50
Unrealized net gains (losses) recognized on equity securities	931	(2,171)	(2,183)
Other noninterest income	14,309	10,078	14,632
Total noninterest income	139,682	121,214	126,613
Noninterest expense
Salaries, wages, and employee benefits	175,619	162,597	159,016
Data processing	27,124	23,708	21,648
Net occupancy expense of premises	18,737	18,214	19,130
Furniture and equipment expenses	6,805	6,759	7,645
Professional fees	12,804	7,147	6,125
Amortization of intangible assets	10,057	10,432	11,628
Interchange expense	6,001	6,864	6,298
FDIC insurance	5,603	5,650	4,058
Other noninterest expense	37,649	44,161	48,333
Total noninterest expense	300,399	285,532	283,881
Income before income taxes	153,304	153,904	161,737
Income taxes	39,613	31,339	33,426
Net income	$ 113,691	$ 122,565	$ 128,311
Basic earnings per common share (in dollars per share)	$ 2.01	$ 2.21	$ 2.32
Diluted earnings per common share (in dollars per share)	1.98	2.18	2.29
Dividends declared per share of common stock (in dollars per share)	$ 0.96	$ 0.96	$ 0.92
Wealth management fees
Noninterest income
Noninterest income	$ 63,630	$ 57,309	$ 55,378
Fees for customer services
Noninterest income
Noninterest income	30,933	29,044	33,111
Payment technology solutions
Noninterest income
Noninterest income	$ 21,983	$ 21,192	$ 20,067

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 113,691	$ 122,565	$ 128,311
Unrealized/Unrecognized gains (losses) on debt securities:
Net unrealized holding gains (losses) on debt securities available for sale	10,295	58,498	(278,762)
Unrecognized losses on debt securities transferred to held to maturity from available for sale	0	0	(48,456)
Reclassification adjustment for realized (gains) losses on debt securities available for sale included in net income	7,033	5,503	(26)
Amortization of unrecognized losses on securities transferred to held to maturity	5,481	6,189	6,638
Tax effect	(7,934)	(20,006)	91,386
Net change in unrealized/unrecognized gains (losses) on debt securities	14,875	50,184	(229,220)
Unrealized gains (losses) on cash flow hedges:
Net gain (loss) recognized in OCI, net of tax	(13,055)	(2,567)	(28,975)
Reclassification adjustment for realized (gains) losses on cash flow hedges included in net income	9,291	8,569	583
Tax effect	653	(1,711)	8,092
Net change in unrealized gains (losses) on cash flow hedges	(3,111)	4,291	(20,300)
OCI	11,764	54,475	(249,520)
Total comprehensive income (loss)	$ 125,455	$ 177,040	$ (121,209)

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Cumulative effect of change in accounting principle (ASU 2016-13)	Common Stock	Additional Paid-in Capital	Retained Earnings	Retained Earnings Cumulative effect of change in accounting principle (ASU 2016-13)	AOCI	Treasury Stock
Beginning balance (in shares) at Dec. 31, 2021			55,434,910
Beginning balance at Dec. 31, 2021	$ 1,319,112		$ 58	$ 1,316,984	$ 92,463		$ (23,758)	$ (66,635)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	128,311				128,311
OCI, net of tax	(249,520)						(249,520)
Repurchase of stock (in shares)			(388,614)
Repurchase of stock	(9,912)							(9,912)
Issuance of treasury stock for ESPP (in shares)			57,385
Issuance of treasury stock for ESPP	1,157			(320)				1,477
Net issuance of treasury stock for RSU/PSU/DSU vesting and related tax (in shares)			175,225
Net issuance of treasury stock for RSU/PSU/DSU vesting and related tax	(1,276)			(5,789)				4,513
Issuance of treasury stock for stock options exercised, net of shares redeemed and related tax (in shares)			218
Issuance of treasury stock for stock options exercised, net of shares redeemed and related tax	0			(5)				5
Cash dividends common stock	(50,863)				(50,863)
Stock dividend equivalents on RSUs/PSUs/DSUs	0			1,142	(1,142)
Stock-based compensation	8,968			8,968
Ending balance (in shares) at Dec. 31, 2022			55,279,124
Ending balance at Dec. 31, 2022	1,145,977		$ 58	1,320,980	168,769		(273,278)	(70,552)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	122,565				122,565
OCI, net of tax	54,475						54,475
Repurchase of stock (in shares)			(227,935)
Repurchase of stock	(4,482)							(4,482)
Issuance of treasury stock for ESPP (in shares)			59,845
Issuance of treasury stock for ESPP	1,011			(530)				1,541
Net issuance of treasury stock for RSU/PSU/DSU vesting and related tax (in shares)			132,091
Net issuance of treasury stock for RSU/PSU/DSU vesting and related tax	(1,093)			(4,494)				3,401
Net issuance of treasury stock for warrants exercised (in shares)			994
Net issuance of treasury stock for warrants exercised	9			(17)				26
Cash dividends common stock	(53,076)				(53,076)
Stock dividend equivalents on RSUs/PSUs/DSUs	0			1,061	(1,061)
Stock-based compensation	6,595			6,595
Ending balance (in shares) at Dec. 31, 2023			55,244,119
Ending balance at Dec. 31, 2023	1,271,981	$ (1,391)	$ 58	1,323,595	237,197	$ (1,391)	(218,803)	(70,066)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	113,691				113,691
OCI, net of tax	11,764						11,764
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)			58,843
Issuance of treasury stock for ESPP	1,190			(325)				1,515
Net issuance of treasury stock for RSU/PSU/DSU vesting and related tax (in shares)			163,387
Net issuance of treasury stock for RSU/PSU/DSU vesting and related tax	(1,754)			(5,961)				4,207
Net issuance of treasury stock for warrants exercised (in shares)			328
Net issuance of treasury stock for warrants exercised	(3)			(11)				8
Cash dividends common stock	(54,169)				(54,169)
Stock dividend equivalents on RSUs/PSUs/DSUs	0			1,274	(1,274)
Stock-based compensation	7,726			7,726
Ending balance (in shares) at Dec. 31, 2024			56,895,981
Ending balance at Dec. 31, 2024	$ 1,383,269		$ 60	$ 1,360,530	$ 294,054		$ (207,039)	$ (64,336)

CONSOLIDATED STATEMENTS OF ST_2

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Stockholders' Equity [Abstract]
Accounting Standards Update [Extensible Enumeration]		Accounting Standards Update 2023-02
Cash dividends, common stock (in dollars per share)	$ 0.96	$ 0.96	$ 0.92

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash flows provided by (used in) operating activities
Net income	$ 113,691	$ 122,565	$ 128,311
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Provision for credit losses	8,590	2,399	4,623
Amortization of intangible assets	10,057	10,432	11,628
Amortization of mortgage servicing rights	997	2,785	3,540
Amortization of New Markets Tax Credit	0	8,999	6,333
Depreciation and amortization of premises and equipment	9,503	9,488	10,482
Net amortization (accretion) on portfolio loans	4,372	6,971	3,932
Net amortization (accretion) of premium (discount) on investment securities	8,857	14,406	20,799
Net amortization (accretion) of premium (discount) on time deposits	101	(270)	(403)
Net amortization (accretion) of premium (discount) on FHLB advances and other borrowings	1,158	1,027	1,400
Impairment of OREO and other repossessed assets	0	100	611
Impairment of fixed assets held for sale	637	0	427
Impairment of mortgage servicing rights	0	1	(8)
Impairment of leases	0	0	84
Unrealized (gains) losses recognized on equity securities, net	(931)	2,171	2,183
(Gain) loss on sales of equity securities, net	0	(5,475)	(24)
(Gain) loss on sales of debt securities, net	7,033	5,503	(26)
Realized net gains (losses) on the sale of mortgage servicing rights	(7,724)	0	0
(Gain) loss on sales of loans, net	(1,761)	(733)	(1,944)
(Gain) loss on sales of OREO and other repossessed assets	(585)	(46)	(54)
(Gain) loss on sales of premises and equipment	(138)	(450)	(825)
(Gain) loss on life insurance proceeds	(895)	(759)	0
(Increase) decrease in cash surrender value of bank owned life insurance	(4,235)	(3,942)	(3,663)
Provision for deferred income taxes	1,384	(2,920)	(1,272)
Stock-based compensation	7,726	6,595	8,968
Proceeds from the sale of mortgage servicing rights	9,796	0	0
Mortgage loans originated for sale	(104,176)	(35,413)	(70,953)
Proceeds from sales of mortgage loans	104,670	35,018	95,289
(Increase) decrease in other assets	19,752	(17,888)	(56,284)
Increase (decrease) in other liabilities	(9,612)	12,826	2,633
Net cash provided by (used in) operating activities	178,267	173,390	165,787
Cash flows provided by (used in) investing activities
Purchases of equity securities	(30,422)	(6,617)	(14,820)
Purchases of debt securities available for sale	(182,603)	(10,436)	(280,083)
Proceeds from sales of equity securities	25,303	11,644	15,418
Proceeds from sales of debt securities available for sale	101,361	105,044	0
Proceeds from paydowns and maturities of debt securities held to maturity	48,822	48,927	70,116
Proceeds from paydowns and maturities of debt securities available for sale	370,774	326,252	470,134
Purchases of restricted bank stock	(43,954)	(30,957)	(12,969)
Proceeds from the redemption of restricted bank stock	884	43,926	225
Purchases of loans	(14,602)	0	0
Net (increase) decrease in loans	364,455	65,240	(541,713)
Net cash received in (paid for) acquisitions	18,377	0	0
Cash paid for premiums on bank-owned life insurance	(74)	(80)	(106)
Proceeds from life insurance	3,092	2,292	219
Purchases of premises and equipment	(6,430)	(9,533)	(4,989)
Proceeds from disposition of premises and equipment	2,247	4,425	4,528
Proceeds from sales of OREO and other repossessed assets, including cash payments collected	673	860	3,184
Net cash provided by (used in) investing activities	657,903	550,987	(290,856)
Cash flows provided by (used in) financing activities
Net increase (decrease) in deposits	(701,605)	220,146	(696,894)
Net increase (decrease) in federal funds purchased and securities sold under agreements to repurchase	(32,969)	(42,410)	(40,333)
Net increase (decrease) in short-term borrowings	(36,000)	(335,000)	330,000
Proceeds from other borrowings, net of debt issuance costs	0	0	98,094
Repayment of other borrowings	(31,450)	(16,054)	(112,678)
Cash dividends paid	(54,169)	(53,076)	(50,863)
Purchase of treasury stock	0	(4,482)	(9,912)
Cash paid for withholding taxes on stock-based payments	(1,755)	(1,093)	(1,276)
Proceeds from stock options exercised	(3)	0	0
Proceeds from stock warrants exercised	0	9	0
Common stock issuance costs	(141)	0	0
Net cash provided by (used in) financing activities	(858,092)	(231,960)	(483,862)
Net increase (decrease) in cash and cash equivalents	(21,922)	492,417	(608,931)
Cash and cash equivalents, beginning of period	719,581	227,164	836,095
Cash and cash equivalents, ending of period	697,659	719,581	227,164
Cash payments for:
Interest	208,359	135,482	35,297
Income taxes	12,907	25,408	30,676
Non-cash investing and financing activities:
OREO acquired in settlement of loans	26	189	175
Transfer of debt securities available for sale to held to maturity	$ 0	$ 0	$ 985,199

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	NOTE 1. SIGNIFICANT ACCOUNTING POLICIES Organization and Nature of Operations First Busey Corporation is a financial holding company organized under the laws of Nevada. First Busey Corporation’s subsidiaries provide retail and commercial banking services and payment technology solutions, and offer a full range of financial products and services including depository, lending, security brokerage, investment management, and fiduciary services, to individual, corporate, institutional, and governmental customers through their locations in Illinois, Missouri, southwest Florida and Indianapolis, Indiana. First Busey Corporation and its subsidiaries are subject to the regulations of certain regulatory agencies and undergo periodic examinations by those regulatory agencies. Busey’s accounting and reporting policies conform to GAAP. The Consolidated Financial Statements include the accounts of First Busey Corporation and its subsidiaries, which include Deed of Trust Services Corporation, and Busey Bank, including Busey Bank’s wholly-owned subsidiaries FirsTech, Pulaski Service Corporation, and Busey Capital Management, Inc. Further, until its dissolution on December 18, 2023, First Busey Risk Management was a subsidiary of First Busey Corporation and included in the Company’s Consolidated Financial Statements . Operating results generated from acquired businesses are included with Busey’s results of operations starting from each date of acquisition. First Busey Corporation and its subsidiaries maintain various limited liability companies that hold specific assets for risk mitigation purposes and are consolidated into Busey’s Consolidated Financial Statements . Intercompany balances and transactions have been eliminated in consolidation. Because Busey is not the primary beneficiary, the Consolidated Financial Statements exclude the following wholly-owned variable interest entities: First Busey Statutory Trust II, First Busey Statutory Trust III, First Busey Statutory Trust IV, Pulaski Financial Statutory Trust I, Pulaski Financial Statutory Trust II, and Merchants and Manufacturers Bank Statutory Trust I. Use of Estimates In preparing the accompanying Consolidated Financial Statements in conformity with GAAP, Busey’s management is required to make estimates and assumptions that affect the amounts reported on the Consolidated Financial Statements and the disclosures provided. Actual results could differ from those estimates. Material estimates which are particularly susceptible to significant change in the near-term relate to the fair value of assets acquired and liabilities assumed in business combinations, goodwill, income taxes, and the determination of the ACL. Trust Assets Assets held for customers in a fiduciary or agency capacity, other than trust cash on deposit at Busey Bank, are not Busey’s assets and, accordingly, are not included in the accompanying Consolidated Financial Statements . Busey had assets under care of $13.83 billion at December 31, 2024, and $12.14 billion at December 31, 2023. Cash and Cash Equivalents Cash and cash equivalents include cash on hand, cash items in process of collection, amounts due from other banks, interest-bearing deposits held with other financial institutions, and federal funds sold. The carrying amount of these instruments is considered a reasonable estimate of fair value. Busey maintains its cash in deposit accounts, the balance of which, at times, may exceed federally insured limits. Busey has not experienced any losses in such accounts. Management believes Busey is not exposed to any significant credit risk on cash and cash equivalents. Business Combinations Business combinations are accounted for under ASC Topic 805 “Business Combinations” using the acquisition method of accounting. The acquisition method of accounting requires that the assets acquired and the liabilities assumed are recognized, measured at their estimated fair values, as of the date Busey obtains control of the acquiree (the acquisition date). To estimate fair values of assets acquired and liabilities assumed, Busey may utilize third-party valuations, such as appraisals, or internal valuations based on discounted cash flow analyses or other valuation techniques. Further, management assumptions require consideration of future growth rates, future attrition, discount rates, multiples of earnings or other relevant factors. Operating results generated from acquired businesses are included with Busey’s results of operations starting from each acquisition date. Acquisition related costs are costs that Busey incurs to effect a business combination, and may include legal, accounting, valuation, other professional or consulting fees, system conversions, and marketing costs. Busey accounts for acquisition related costs by recording them as expenses in the periods in which the costs are incurred and the services are received. Costs that Busey expects, but is not obligated to incur in the future, to effect its plan to exit an activity of an acquiree or to terminate the employment of an acquiree’s employees are not liabilities at the acquisition date. Instead, Busey recognizes these costs in its post-combination Consolidated Financial Statements in accordance with other applicable accounting guidance. Securities Debt Securities Available for Sale Debt securities classified as available for sale are those debt securities that Busey intends to hold for an indefinite period of time, but not necessarily to maturity. Any decision to sell a security classified as available for sale would be based on factors including significant movements in interest rates, changes in the maturity mix of Busey's assets and liabilities, liquidity needs, regulatory capital considerations, and other similar factors. Debt securities available for sale are carried at fair value, with unrealized gains and losses reported in OCI, net of taxes. Purchase premiums and discounts are recognized in interest income using the interest method over the terms of the securities. The amortization period for certain callable debt securities held at a premium are amortized to the earliest call date, while discounts on debt securities are amortized to maturity. Gains and losses on the sale of debt securities available for sale are recorded on the trade date and are determined using the specific identification method. Debt securities available for sale are not within the scope of the current expected credit losses methodology, however, the accounting for credit losses on these securities is affected by ASC Subtopic 326-30 “Financial Instruments-Credit Losses—Available-for-Sale Debt Securities.” A debt security available for sale is impaired if the fair value of the security declines below its amortized cost basis. To determine the appropriate accounting, Busey must first determine if it intends to sell the security or if it is more likely than not that it will be required to sell the security before the fair value increases to at least the amortized cost basis. If either of those selling events is expected, Busey will write down the amortized cost basis of the security to its fair value. This is achieved by writing off any previously recorded allowance, if applicable, and recognizing any incremental impairment through earnings. If Busey neither intends to sell the security nor believes it is more likely than not that the Company will be required to sell the security before the fair value recovers to the amortized cost basis, Busey must determine whether any of the decline in fair value has resulted from a credit loss, or if it is entirely the result of noncredit factors. Busey considers the following factors in assessing whether the decline is due to a credit loss: • Extent to which the fair value is less than the amortized cost basis; • Adverse conditions specifically related to the security, an industry, or a geographic area (for example, changes in the financial condition of the issuer of the security, or in the case of an asset-backed debt security, in the financial condition of the underlying loan obligors); • Payment structure of the debt security and the likelihood of the issuer being able to make payments that increase in the future; • Failure of the issuer of the security to make scheduled interest or principal payments; and • Any changes to the rating of the security by a rating agency. Impairment related to a credit loss must be measured using the discounted cash flow method. Credit loss recognition is limited to the fair value of the security. Impairment is recognized by establishing an allowance for the debt security through the provision for credit losses. Impairment related to noncredit factors is recognized in AOCI, net of applicable taxes. Busey did not recognize any credit impairment on debt securities available for sale in 2024, 2023, or 2022. Debt Securities Held to Maturity Debt securities classified as held to maturity are those debt securities that Busey has the intent and ability to hold to maturity and are carried at amortized cost. In 2022, Busey elected to transfer a portion of the agency mortgage-backed securities portfolio from available for sale to held to maturity. While held to maturity securities are within the scope of CECL, the standard allows for an assumption of zero credit losses when the expectation of non-payment is zero. The risk of credit loss related to mortgage-backed securities issued and/or guaranteed by U.S. government agencies or U.S. government-sponsored enterprises is considered zero, therefore requiring no allowance to be recorded. Accrued interest receivable for both debt securities available for sale and debt securities held to maturity totaled $10.5 million at December 31, 2024, and is excluded from the estimate of credit losses. Accrued interest receivable is reported in other assets on the Consolidated Balance Sheets . Equity Securities Equity securities are carried at fair value with changes in fair value recognized in earnings. Loans Held for Sale Loans held for sale include mortgage loans which Busey intends to sell to investors and/or the secondary mortgage market. Busey accounts for loans held for sale at LOCOM. Loans held for sale are carried at amortized historical cost less loan write-offs and downward fair value adjustments, as may be applicable. Net unrealized losses, if any, are recognized through a valuation allowance by charges to income. Gains and losses on sales of loans are recognized at settlement dates and are determined by the difference between the sales proceeds and the carrying amount, net of the value of any servicing assets for loans that were sold with servicing rights retained. Loan Servicing Servicing assets are recognized when servicing rights are acquired or retained through the sale of mortgage and government-guaranteed commercial loans. The unpaid principal balances of loans serviced by Busey for the benefit of others totaled $582.5 million as of December 31, 2024, and $1.49 billion as of December 31, 2023, and are not included in the accompanying Consolidated Balance Sheets . During the first quarter of 2024, Busey sold the mortgage servicing rights on approximately $923.5 million of one- to four-family mortgage loans for an estimated pre-tax gain of $7.5 million, which enabled Busey to sell available-for-sale debt securities with a book value of approximately $108.2 million for a pre-tax loss of $6.8 million. Servicing rights are initially recorded at estimated fair value, which is determined using a valuation model that calculates the present value of estimated future net servicing income. Capitalized servicing rights are reported in other assets and are amortized into noninterest income in proportion to, and over the period of, the estimated future net servicing income of the underlying financial assets. The amortization of mortgage servicing rights is included in mortgage revenue. The amortization of government-guaranteed commercial loan servicing rights is included in other income. Servicing rights are periodically evaluated for impairment based on the fair value of those rights as compared to the carrying amount. Fair values are estimated using discounted cash flows based on expected prepayment rates and other inputs. For purposes of measuring impairment, servicing rights are stratified by one or more predominant characteristics of the underlying loans. A valuation allowance is recognized in the amount by which the amortized cost of the rights for each stratum exceeds its fair value, if any. If Busey later determines that all or a portion of the impairment no longer exists for a particular group of loans, a reversal of the allowance may be recorded in current period earnings. Busey had an immaterial amount of impairment recorded at December 31, 2024 and 2023. Servicing fee income is recorded for fees earned for servicing loans. The fees are based on a contractual percentage of the outstanding principal and are recorded as income when earned. Portfolio Loans Loans that management has the intent and ability to hold for the foreseeable future, or until maturity or pay-off, are reported at the principal balance outstanding, net of purchase premiums and discounts, deferred origination fees and costs, charge-offs, and the ACL. Loan origination fees, net of certain direct loan origination costs, are deferred and the net amount is amortized as an adjustment of the related loan’s yield. Busey amortizes the net amount over the contractual life of the related loan. Interest income is accrued daily on outstanding loan balances. Loans are placed on non-accrual status when, in management’s opinion, the borrower may be unable to meet payment obligations as they become due, as well as when required by regulatory provisions. Loans may be placed on non-accrual status regardless of whether or not such loans are considered past due. Past due status is based on the contractual terms of the loan. Interest accrued but not collected for loans that are charged-off or placed on non-accrual status is reversed against interest income. The interest on non-accrual loans is accounted for on the cost-recovery method, until returned to accrual status. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. Loan Modifications Busey’s loan portfolio includes certain loans that have been modified in accordance with loan refinancing and restructuring guidance in ASC Subtopic 310-20-35-9 through 35-11 “Receivables—Nonrefundable Fees and Other Costs—Subsequent Measurement—Loan Refinancing or Restructuring” for borrowers experiencing financial difficulty. For additional information about loan modifications for borrowers experiencing financial difficulty, see “ Note 4. P ortfolio Loans .” Allowance for Credit Losses The ACL is a significant estimate on Busey’s Consolidated Financial Statements , affecting both earnings and capital. The ACL is a valuation account that is deducted from the portfolio loans’ amortized cost bases to present the net amount expected to be collected on the portfolio loans. Portfolio loans are charged off against the ACL when management believes the loan balance is uncollectible. Recoveries will be recognized up to the aggregate amount of previously charged-off balances. The ACL is established through the provision for credit loss charged to income. A loan’s amortized cost basis is comprised of the unpaid principal balance of the loan net of charge-offs, accrued interest receivable, purchase premiums or discounts, and net deferred origination fees or costs. Busey has estimated its allowance on the amortized cost basis, exclusive of government guaranteed loans and accrued interest receivable. Further, as permitted under the practical expedient provided within ASC 326-20-35-6, Busey did not record an ACL for its Life Equity Loan ® portfolio due to no expected credit loss at default. Busey writes-off uncollectible accrued interest receivable in a timely manner and has elected to not measure an allowance for accrued interest receivable. Busey presents the aggregate amount of accrued interest receivable for all financial instruments in other assets on the Consolidated Balance Sheets and the balance of accrued interest receivable is disclosed in “ Note 20. Fair Value Measurements. ” Busey’s methodology influences, and is influenced by, Busey’s overall credit risk management processes. The ACL is managed in accordance with GAAP to provide an adequate reserve for expected credit losses that is reflective of management’s best estimate of what is expected to be collected. The ACL must be determined on a collective (pool) basis when similar risk characteristics exist. On a case-by-case basis, Busey may conclude that a loan should be evaluated on an individual basis based on disparate risk characteristics. The measurement of expected credit losses is based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the amortized cost basis. Adjustments to historical loss information are made for differences in current loan-specific risk characteristics such as differences in underwriting standards, portfolio mix, delinquency level, or term as well as for changes in environmental conditions such as changes in unemployment rates, property values, and other relevant factors. The calculation also contemplates that Busey may not be able to make or obtain such forecasts for the entire life of the financial assets and requires a reversion to historical credit loss information. Due to the continued economic uncertainty in the markets in which the Company operates, Busey will continue to utilize a forecast period of 12 months with an immediate reversion to historical loss rates beyond this forecast period in its ACL estimate. Ongoing impacts of CECL will be dependent upon changes in economic conditions and forecasts, originated and acquired loan portfolio composition, prepayment speeds, credit performance trends, portfolio duration, and other factors. Assets Purchased with Credit Deterioration Acquired loans are separated into two categories based on the credit risk characteristics of the underlying borrowers: (1) PCD, for loans which have experienced more than insignificant credit deterioration since origination, or (2) all other loans. For PCD loans, an ACL is determined at the date of acquisition using the same methodology as other loans held for investment. This initial ACL, when determined on a collective basis, is allocated to the individual loans, and the sum of each loan’s purchase price and ACL becomes its initial amortized cost basis. The difference between the initial amortized cost basis and the par value of the loan is a noncredit discount or premium, which is amortized into interest income over the life of the loan. The ACL on PCD loans is recorded in the acquisition accounting and no provision for credit losses is recognized at the acquisition date. Subsequent changes to the ACL are recorded as a charge to the provision for credit losses. For all other loans, an ACL is established immediately after the acquisition through a charge to the provision for credit losses. Upon adoption of ASC Topic 326 “Financial Instruments-Credit Losses” Busey applied the prospective transition approach for financial assets considered PCD that were previously classified as PCI and accounted for under ASC Subtopic 310-30 “Receivables—Loans and Debt Securities Acquired with Deteriorated Credit Quality.” In accordance with the standard, management did not reassess whether PCI assets met the criteria of PCD assets as of the date of adoption. The amortized cost basis of these PCD assets was adjusted to reflect an ACL for any remaining credit discount. The noncredit discount is being accreted into interest income using the January 1, 2020, effective interest rate. Subsequent changes in expected cash flows will be adjusted through the ACL. Other Real Estate Owned and Other Repossessed Assets OREO and other repossessed assets represent properties and other assets acquired through foreclosure or other proceedings in settlement of loans. OREO and other repossessed assets are recorded at the fair value of the property or asset, less estimated costs of disposal, which establishes a new cost basis. Any adjustment to fair value at the time of transfer to OREO or other repossessed assets is charged to the ACL. OREO property and other repossessed assets are evaluated regularly to ensure the recorded amount is supported by its current fair value; write downs or valuation allowances to reduce the carrying amount to fair value less estimated costs to dispose are recorded, as necessary. OREO and other repossessed assets are included in other assets on the Consolidated Balance Sheets . Revenue, expense, gains, and losses from the operations of foreclosed assets are included in earnings. Long-Lived Assets Long-lived assets, including premises and equipment, right of use assets, and intangible assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. An impairment loss is recognized when estimated undiscounted future cash flows from operations of the asset are less than the carrying value of the asset. Cash flows used for this analysis are those directly associated with, and that are expected to arise as a direct result of, the use and eventual disposition of the asset. Any impairment loss is measured as the amount by which the carrying value of the asset exceeds its fair value. Premises and Equipment Land is carried at cost less accumulated depreciation of depreciable land improvements. Premises and equipment are stated at cost less accumulated depreciation. Depreciation is computed by the straight-line method over the estimated useful lives of the assets. The estimated useful lives for premises and equipment are: Asset Description Estimated Useful Life Buildings and improvements 3 — 40 years Furniture and equipment 3 — 10 years Premises and equipment are reviewed for impairment in accordance with Busey’s policies regarding long-lived assets. Bank property held for sale, included in premises and equipment, represents certain banking center office buildings which Busey had 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, and depreciation has been stopped. Leases A determination is made at inception if an arrangement contains a lease. For arrangements containing leases, Busey recognizes leases on the Consolidated Balance Sheets as right of use assets and corresponding lease liabilities. Lease-related assets, or right of use assets, are recognized on the lease commencement date at amounts equal to the respective lease liabilities, adjusted for prepaid lease payments, initial direct costs, and lease incentives received. Lease-related liabilities are recognized at the present value of the remaining contractual fixed lease payments, discounted using the rate implicit in the lease or Busey’s incremental borrowing rate. ASC Topic 842 “Leases” requires the use of the rate implicit in the lease whenever this rate is readily determinable. If not readily determinable, Busey uses its incremental borrowing rate at lease inception, on a collateralized basis, over a similar term. For operating leases existing prior to Busey’s adoption of ASC Topic 842 on January 1, 2019, Busey used a borrowing rate that corresponded to the lease term remaining as of the date of adoption of ASC Topic 842. Busey’s lease agreements often include one or more options to renew at Busey’s discretion. When Busey considers the exercise of a renewal option to be reasonably certain, that renewal term is included in the calculation of the right of use asset and lease liability. Operating lease expense is recognized on a straight-line basis over the lease term, including any renewal terms available through options to renew that Busey is reasonably certain to exercise. Variable lease payments are expensed as incurred. Right of use assets are reviewed for impairment in accordance with Busey’s policies regarding long-lived assets. Goodwill and Other Intangibles Goodwill represents the excess of consideration transferred in a business combination over the fair value of the net assets acquired. Goodwill is not amortized but is subject to at least annual impairment assessments. A separate goodwill impairment assessment is performed for each reporting unit on the goodwill that has been allocated to it. A reporting unit is a component of an operating segment that constitutes a business for which discrete financial information is available, and segment management regularly reviews the operating results of that component. Busey’s reporting units are the same as its operating segments. Busey has established December 31 as the annual impairment assessment date for each of its reporting units. As part of this assessment, each reporting unit's carrying value is compared to its fair value. Busey estimates the fair value of its reporting units as of the measurement date utilizing valuation methodologies including comparable company analysis and precedent transaction analysis. Goodwill is considered impaired if the carrying value of the reporting unit exceeds its fair value. There was no impairment as of December 31, 2024 or 2023. Other intangible assets consist of core deposit and acquired customer relationship intangible assets arising from acquisitions. Other intangible assets are amortized over their estimated useful lives, and are reviewed for impairment in accordance with Busey’s policies regarding long-lived assets. See “ Note 8. Goodwill and Other Intangible Assets ” for additional information. Cash Surrender Value of Bank Owned Life Insurance Busey has purchased, or acquired through acquisitions, life insurance policies on certain executives and senior officers. Life insurance is recorded at its cash surrender value, which approximates its fair value. Busey maintains a liability for post-employment benefits related to split-dollar life insurance arrangements. In an endorsement split-dollar life insurance arrangement, the employer owns and controls the policy, and the employer and employee split the life insurance policy’s cash surrender value and/or death benefits. If the employer agrees to maintain a life insurance policy during the employee’s retirement, the present value of the cost of maintaining the insurance policy is accrued over the employee’s active service period. Similarly, if the employer agrees to provide the employee with a death benefit, the present value of the death benefit is accrued over the employee’s active service period. Busey accrued liabilities for these arrangements totaling $5.7 million as of December 31, 2024, and $5.6 million as of December 31, 2023. Liabilities for post-employment benefits are included in other liabilities on the Consolidated Balance Sheets . Restricted Bank Stock During the fourth quarter of 2024 Busey Bank became a member of the Federal Reserve System. Federal Reserve member banks are required to own a certain amount of Federal Reserve Bank stock. Busey's investment in Federal Reserve Bank stock was $43.9 million as of December 31, 2024. Busey’s investment in Federal Reserve Bank stock represents approximately half of the total required subscription, and the remaining half is unpaid and remains subject to call by the Federal Reserve Bank. As such, Busey reserved cash of $43.9 million as of December 31, 2024. Busey Bank is a member of the FHLB system. FHLB members are required to own a certain amount of FHLB stock based on the level of borrowings and other factors, and may invest in additional amounts. Busey's investment in FHLB stock was $6.0 million as of both December 31, 2024 and 2023. Federal Reserve Bank stock and FHLB stock are carried at cost in restricted bank stock on the Consolidated Balance Sheets . Cash reserves are included in interest-bearing deposits as part of Busey’s total cash and cash equivalents balances reported on the Consolidated Balance Sheets . Dividends are reported as interest income on the Consolidated Statements of Income . Dividend income is accrued on Federal Reserve Bank stock and is recognized when declared on FHLB stock. Transfers of Financial Assets Transfers of financial assets are accounted for as sales only when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when: (1) the assets have been isolated from Busey’s assets, (2) the transferee obtains the right to pledge or exchange the assets it receives, and no condition both constrains the transferee from taking advantage of its right to pledge or exchange and provides more than a trivial benefit to the transferor, and (3) Busey does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity or the ability to unilaterally cause the holder to return specific assets. When transfers of financial assets fail to meet these criteria, those transfers are accounted for as secured borrowings. Income Taxes Busey is subject to income taxes in U.S. federal and various state jurisdictions. First Busey Corporation and its subsidiaries file consolidated federal and state income tax returns with each subsidiary computing its taxes on a separate entity basis. Tax regulations within each jurisdiction are subject to the interpretation of the related tax laws and regulations, which requires significant judgment. Busey is no longer subject to U.S. federal, state, or local income tax examinations by tax authorities for the years before 2021. Under GAAP, a valuation allowance is required to be recognized if it is more likely than not that the deferred tax assets will not be realized. The determination of the recoverability of the deferred tax assets is highly subjective and dependent upon judgment concerning management’s evaluation of both positive and negative evidence, the forecasts of future income, applicable tax planning strategies, and assessments of current and future economic and business conditions. In 2024, Busey recorded a one-time deferred tax valuation adjustment of $1.4 million resulting from a change to the Illinois apportionment rate due to recently enacted regulations. These new regulations are expected to lower Busey’s ongoing tax obligation in future periods, but created a negative adjustment to the carrying value of Busey’s deferred tax asset in 2024. Management believes that it is more likely than not that the deferred tax assets included in the accompanying Consolidated Financial Statements will be fully realized. Busey determined that no valuation allowance was required as of December 31, 2024, or 2023. Positions taken in tax returns may be subject to challenge upon examination by the taxing authorities. Uncertain tax positions are initially recognized on the Consolidated Financial Statements when it is more likely than not the position will not be sustained upon examination by the tax authorities. Such tax positions are both initially and subsequently measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon settlement with the tax authority, assuming full knowledge of the position and all relevant facts. When applicable, Busey recognizes interest accrued related to unrecognized tax benefits and penalties in operating expenses. At December 31, 2024, Busey Bank was under examination by the Florida Department of Revenue for its 2020 to 2022 corporate income tax filings. Busey Bank accrued $0.1 million related to potential assessment adjustments and interest. Other than this, Busey had no accruals for payments of interest and penalties related to uncertain tax positions at December 31, 2024, or 2023. Further, in February of 2025, Busey received notice of audit initiation from the Illinois Department of Revenue for M&M’s tax filings for the tax years 2022 and 2023. 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

MERGERS AND ACQUISITIONS

MERGERS AND ACQUISITIONS	12 Months Ended
	Dec. 31, 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, First Busey Corporation and CrossFirst, a Kansas corporation, entered into a definitive agreement pursuant to which Busey will acquire CrossFirst and its wholly-owned subsidiary CrossFirst Bank, through a merger transaction. This partnership will create a premier commercial bank in the Midwest, Southwest, and Florida, with 77 full-service locations across 10 states—Arizona, Colorado, Florida, Illinois, Indiana, Kansas, Missouri, New Mexico, Oklahoma, and Texas—and approximately $20 billion in combined assets, $17 billion in total deposits, $14 billion in total loans, and $14 billion in wealth assets under care. Under the terms of the merger agreement, CrossFirst stockholders will have the right to receive for each share of CrossFirst common stock 0.6675 of a share of Busey’s common stock with a cash payment in lieu of any fractional shares, and for each share of CrossFirst Series A Perpetual Preferred Stock one share of a newly created series of Busey preferred stock or, at the election of Busey, an amount of cash equal to the liquidation preference thereof, plus any unpaid dividends thereon through the effective time of the merger. On December 20, 2024, Busey and CrossFirst stockholders voted to approve the merger. On January 16, 2025, Busey received regulatory approval from the Board of Governors of the Federal Reserve System for the merger. The transaction has also been approved by the Illinois Department of Financial and Professional Regulation and the Kansas Office of the State Bank Commissioner. Busey and CrossFirst intend to close the merger on March 1, 2025, subject to the satisfaction of the remaining customary closing conditions. It is anticipated that CrossFirst Bank will merge with and into Busey Bank in mid-2025. At the time of the bank merger, CrossFirst Bank locations will become banking centers of Busey Bank. In connection with the CrossFirst merger, Busey incurred one-time pretax acquisition-related expenses of $3.9 million in 2024, which are reported as components of noninterest expense on the accompanying Consolidated Statements of Income . Of this amount, $3.1 million represents legal, professional, and consulting fees incurred to consummate the acquisition, with the remainder of the expenses comprised primarily of marketing, consulting, and travel expenses. For further details on the merger, see the 8-K announcing the merger filed with the SEC on August 27, 2024. Merchants and Manufacturers Bank Corporation On April 1, 2024, Busey completed its acquisition of 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 expanded 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. Fair value adjustments totaling $0.4 million were recorded during the year ended December 31, 2024, as additional information became available regarding unrecorded assets and liabilities. Busey does not expect any further adjustments will be necessary. As the total consideration paid for M&M exceeded the estimated fair value of net assets acquired, goodwill of $15.8 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 Premises and equipment 2,045 Right of use assets 253 Other intangible assets 6,346 Other assets 10,283 Total assets acquired 477,820 Liabilities assumed Deposits 392,838 Short-term borrowings 35,932 Long-term debt 1,450 Subordinated notes, net of unamortized issuance costs 3,911 Junior subordinated debt owed to unconsolidated trusts 2,594 Lease liabilities 253 Other liabilities 7,089 Total liabilities assumed 444,067 Net assets acquired $ 33,753 Consideration paid Cash $ 15,200 Common stock 34,375 Total consideration paid $ 49,575 Goodwill $ 15,822 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 Pro Forma Results The following table provides the unaudited pro forma information for the results of operations for the years ended December 31, 2024 and 2023, as if the acquisition had occurred January 1, 2023. The pro forma results combine the historical results of M&M into Busey’s Consolidated Statements of Income, including the impact of purchase accounting adjustments such as loan discount accretion, intangible assets amortization, and deposit accretion, net of taxes. The pro forma results have been prepared for comparative purposes only and are not necessarily indicative of the results that would have been obtained had the acquisition actually occurred on January 1, 2023. No assumptions have been applied to the pro forma results of operations regarding possible revenue enhancements, expense efficiencies, or asset dispositions. Only the merger related expenses that have been recognized are included in net income in the table below (dollars in thousands) : Years Ended December 31, 2024 2023 Revenue (net interest income plus noninterest income) $ 468,401 $ 466,973 Net income 115,530 130,483 Diluted earnings per common share 2.00 2.26 Other Acquisition Costs In connection with the M&M acquisition, Busey incurred $3.0 million in pre-tax acquisition expenses during the year ended December 31, 2024, which are reported as components of noninterest expense on the accompanying Consolidated Statements of Income . Of this amount, $0.1 million represents legal, professional, and consulting fees incurred to consummate the acquisition, with the remainder of the expenses comprised primarily of salaries, wages and employee benefits; data processing; and other professional fees.

DEBT SECURITIES

DEBT SECURITIES	12 Months Ended
	Dec. 31, 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 provides the amortized cost, unrealized and unrecognized gains and losses, and fair values of debt securities, summarized by major category (dollars in thousands) : As of December 31, 2024 Amortized Unrealized Fair Gross Gains Gross Losses Debt securities available for sale Obligations of U.S. government corporations and agencies $ 1,408 $ — $ (8) $ 1,400 Obligations of states and political subdivisions 1 156,534 31 (16,736) 139,829 Asset-backed securities 1 336,379 181 (3) 336,557 Commercial mortgage-backed securities 107,305 — (15,131) 92,174 Residential mortgage-backed securities 1,279,090 19 (191,899) 1,087,210 Corporate debt securities 159,236 363 (6,548) 153,051 Total debt securities available for sale $ 2,039,952 $ 594 $ (230,325) $ 1,810,221 Amortized Unrecognized Fair Gross Gains Gross Losses Debt securities held to maturity Commercial mortgage-backed securities $ 415,530 $ — $ (77,242) $ 338,288 Residential mortgage-backed securities 411,100 — (74,335) 336,765 Total debt securities held to maturity $ 826,630 $ — $ (151,577) $ 675,053 ___________________________________________ 1. 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. Amortized cost and fair value of debt securities, by contractual maturity or pre-refunded date, are shown below. Mortgages underlying mortgage-backed securities and asset-backed securities may be called or prepaid; therefore, actual maturities could differ from the contractual maturities. All mortgage-backed securities were issued by U.S. government corporations and agencies (dollars in thousands) : As of December 31, 2024 Amortized Fair Debt securities available for sale Due in one year or less $ 91,497 $ 90,406 Due after one year through five years 110,271 104,914 Due after five years through ten years 518,414 495,024 Due after ten years 1,319,770 1,119,877 Debt securities available for sale $ 2,039,952 $ 1,810,221 Debt securities held to maturity Due in one year or less $ 18,628 $ 18,327 Due after one year through five years 62,119 58,733 Due after five years through ten years 14,689 12,609 Due after ten years 731,194 585,384 Debt securities held to maturity $ 826,630 $ 675,053 Realized gains and losses related to sales and calls of debt securities available for sale are summarized as follows (dollars in thousands) : Years Ended December 31, 2024 2023 2022 Realized gains and losses on debt securities Gross gains on debt securities $ 1 $ 20 $ 115 Gross (losses) on debt securities (7,034) (5,523) (89) Realized net gains (losses) on debt securities 1 $ (7,033) $ (5,503) $ 26 ___________________________________________ 1. Net gains (losses) on sales of securities reported on the Consolidated Statements of Income include the sale of equity securities, excluded in this table. Debt securities with carrying amounts of $871.4 million on December 31, 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. The following information pertains to debt securities with gross unrealized or unrecognized losses, aggregated by investment category and the length of time that individual securities have been in a continuous loss position (dollars in thousands) : As of December 31, 2024 Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized Debt securities available for sale Obligations of U.S. government corporations and agencies $ — $ — $ 1,328 $ (8) $ 1,328 $ (8) Obligations of states and political subdivisions 11,234 (209) 119,723 (16,527) 130,957 (16,736) Asset-backed securities 14,997 (3) — — 14,997 (3) Commercial mortgage-backed securities 6,238 (42) 85,936 (15,089) 92,174 (15,131) Residential mortgage-backed securities 152,081 (640) 930,642 (191,259) 1,082,723 (191,899) Corporate debt securities 598 (1) 143,966 (6,547) 144,564 (6,548) Debt securities available for sale with gross unrealized losses $ 185,148 $ (895) $ 1,281,595 $ (229,430) $ 1,466,743 $ (230,325) 12 months or more Total Fair Unrecognized Fair Unrecognized Debt securities held to maturity Commercial mortgage-backed securities $ 338,288 $ (77,242) $ 338,288 $ (77,242) Residential mortgage-backed securities 336,765 (74,335) 336,765 (74,335) Debt securities held to maturity with gross unrecognized losses $ 675,053 $ (151,577) $ 675,053 $ (151,577) 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 December 31, 2024 Available for Sale Held to Maturity Total Debt securities with gross unrealized or unrecognized losses, fair value $ 1,466,743 $ 675,053 $ 2,141,796 Gross unrealized or unrecognized losses on debt securities 230,325 151,577 381,902 Ratio of gross unrealized or unrecognized losses to debt securities with gross unrealized or unrecognized losses 15.7 % 22.5 % 17.8 % Count of debt securities 677 55 732 Count of debt securities in an unrealized or unrecognized loss position 586 55 641 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 were related to changes in market interest rates and market conditions that do not represent credit-related impairments. Unless part of a corporate strategy or restructuring plan, Busey does not intend to sell securities that are in an unrealized or unrecognized loss position, and it is more likely than not that Busey will recover the amortized cost prior to being required to sell the debt securities. Full collection of the amounts due according to the contractual terms of the debt securities is expected; therefore, no ACL was recorded in relation to debt securities, and the impairment related to noncredit factors on debt securities available for sale is recognized in AOCI, net of applicable taxes. As of December 31, 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	12 Months Ended
	Dec. 31, 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 into two primary categories: commercial and retail. Loans within these categories are further classified by lending activity: C&I and other commercial, CRE, real estate construction, retail real estate, and retail other. Distributions of the loan portfolio by loan category and lending activity is presented in the following table (dollars in thousands) : As of December 31, 2024 2023 Commercial loans C&I and other commercial $ 1,904,515 $ 1,835,994 CRE 3,269,564 3,337,337 Real estate construction 378,209 461,717 Total commercial loans 5,552,288 5,635,048 Retail loans Retail real estate 1,696,457 1,720,455 Retail other 448,342 295,531 Total retail loans 2,144,799 2,015,986 Total portfolio loans 7,697,087 7,651,034 ACL (83,404) (91,740) Portfolio loans, net $ 7,613,683 $ 7,559,294 Net deferred loan origination costs included in the balances above were $12.5 million as of December 31, 2024, compared to $13.5 million as of December 31, 2023. Net accretable purchase accounting adjustments included in the balances above reduced loans by $8.8 million as of December 31, 2024, and by $4.5 million as of December 31, 2023. Busey elected to purchase $6.9 million of retail real estate loans during the year ended December 31, 2024, and did not purchase any retail real estate loans during the years ended December 31, 2023 or 2022. Pledged Loans The principal balance of loans Busey has pledged as collateral to the FHLB and Federal Reserve Bank for liquidity as set forth in the table below (dollars in thousands) : As of December 31, 2024 2023 Pledged loans FHLB $ 4,813,600 $ 4,865,481 Federal Reserve Bank 765,824 722,914 Total pledged loans $ 5,579,424 $ 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 segregated by category of portfolio loans (dollars in thousands) : As of December 31, 2024 Pass Watch Special Substandard Substandard Total Commercial loans C&I and other commercial $ 1,545,338 $ 281,424 $ 36,152 $ 37,749 $ 3,852 $ 1,904,515 CRE 2,744,018 438,945 55,041 16,507 15,053 3,269,564 Real estate construction 345,908 26,833 221 5,224 23 378,209 Total commercial loans 4,635,264 747,202 91,414 59,480 18,928 5,552,288 Retail loans Retail real estate 1,680,640 9,408 882 2,543 2,984 1,696,457 Retail other 448,166 — — — 176 448,342 Total retail loans 2,128,806 9,408 882 2,543 3,160 2,144,799 Total portfolio loans $ 6,764,070 $ 756,610 $ 92,296 $ 62,023 $ 22,088 $ 7,697,087 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 CRE 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 net charge-offs are presented in the tables below by loan class, further sorted by origination year (dollars in thousands) : As of and For The Year Ended December 31, 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 $ 320,831 $ 147,909 $ 163,870 $ 125,053 $ 74,146 $ 117,234 $ 596,295 $ 1,545,338 Watch 38,734 49,394 44,709 16,393 2,175 20,964 109,055 281,424 Special Mention 1,718 2,293 5,658 2,634 106 2,540 21,203 36,152 Substandard 15,186 6,545 788 591 320 2,424 11,895 37,749 Substandard non-accrual 65 141 464 — 42 852 2,288 3,852 Total C&I and other commercial 376,534 206,282 215,489 144,671 76,789 144,014 740,736 1,904,515 Gross charge-offs $ — $ 14,980 $ 148 $ 22 $ — $ 303 $ — $ 15,453 CRE Pass 291,503 354,591 755,266 645,994 356,867 314,340 25,457 2,744,018 Watch 115,078 132,900 60,611 62,408 28,320 38,733 895 438,945 Special Mention 39,252 643 8,020 1,395 4,165 1,517 49 55,041 Substandard 6,983 355 4,628 50 95 4,346 50 16,507 Substandard non-accrual 15,000 39 — — 14 — — 15,053 Total CRE 467,816 488,528 828,525 709,847 389,461 358,936 26,451 3,269,564 Gross charge-offs — — — 2,999 — 315 — 3,314 Real estate construction Pass 159,825 134,450 12,205 24,781 2,213 1,124 11,310 345,908 Watch 20,170 6,455 — 208 — — — 26,833 Special Mention — — — 221 — — — 221 Substandard 5,224 — — — — — — 5,224 Substandard non-accrual — — — 23 — — — 23 Total real estate construction 185,219 140,905 12,205 25,233 2,213 1,124 11,310 378,209 Retail real estate Pass 101,582 237,306 366,820 354,380 147,236 267,431 205,885 1,680,640 Watch 1,255 550 2,733 3,377 872 124 497 9,408 Special Mention 151 — 344 — — 372 15 882 Substandard — 243 1,018 503 — 776 3 2,543 Substandard non-accrual — — 344 91 152 1,526 871 2,984 Total retail real estate 102,988 238,099 371,259 358,351 148,260 270,229 207,271 1,696,457 Gross charge-offs — — — — — 168 — 168 Retail other Pass 4,996 55,665 57,944 12,207 2,304 589 314,461 448,166 Substandard non-accrual — 94 67 4 — 11 — 176 Total retail other 4,996 55,759 58,011 12,211 2,304 600 314,461 448,342 Gross charge-offs 9 31 106 78 4 403 — 631 Total portfolio loans $ 1,137,553 $ 1,129,573 $ 1,485,489 $ 1,250,313 $ 619,027 $ 774,903 $ 1,300,229 $ 7,697,087 Total gross charge-offs $ 9 $ 15,011 $ 254 $ 3,099 $ 4 $ 1,189 $ — $ 19,566 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 C&I and other 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 CRE 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 CRE 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 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 are past due and still accruing, or on non-accrual status, is as follows (dollars in thousands) : As of December 31, 2024 Loans past due, still accruing Non-accrual 30-59 Days 60-89 Days 90+Days Commercial loans C&I and other commercial $ 95 $ — $ — $ 3,852 CRE 42 2,759 — 15,053 Real estate construction 41 — — 23 Past due and non-accrual commercial loans 178 2,759 — 18,928 Retail loans Retail real estate 3,280 683 1,115 2,984 Retail other 1,094 130 34 176 Past due and non-accrual retail loans 4,374 813 1,149 3,160 Total past due and non-accrual loans $ 4,552 $ 3,572 $ 1,149 $ 22,088 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 CRE 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 $0.9 million, $1.1 million, and $1.2 million for the years ended December 31, 2024, 2023, and 2022, respectively. Interest collected on those loans and recognized on a cash basis that was included in interest income was immaterial for the year ended December 31, 2024, and totaled $0.4 million for each of the years ended December 31, 2023, and 2022. 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) : Year Ended December 31, 2024 Payment Deferral % of Total Class of Financing Receivable 1 Term Extension % of Total Class of Financing Receivable Modified Loans C&I and other commercial $ 325 — % $ 26,175 1.4 % CRE — — % 18,147 0.6 % Real estate construction — — % 5,224 1.4 % Total of loans modified during the period 2 $ 325 — % $ 49,546 0.6 % ___________________________________________ 1. Modified loans represent an insignificant portion of C&I and other commercial loans, rounding to zero percent. 2. Modifications include one loan on non-accrual status, and the remaining loans were classified as substandard. Year Ended December 31, 2023 Interest Rate Reduction 1 % of Total Class of Financing Receivable 2 Term Extension 3 % of Total Class of Financing Receivable 2 Modified Loans C&I and other commercial $ — — % $ 16,586 0.9 % CRE 872 — % 923 — % Real estate construction — — % 5,327 1.2 % Total of loans modified during the period 4 $ 872 — % $ 22,836 0.3 % ___________________________________________ 1. For one loan, the default rate was removed once forbearance was entered. 2. Modified loans represent an insignificant portion of CRE loans, rounding to zero percent. 3. Modifications to extend loan terms also included, in some cases, interest rate increases during the extension period. 4. Modifications include one loan on non-accrual status, and the remaining loans were classified as substandard. The following table summarizes the effects of loan modifications made during the periods indicated for borrowers experiencing financial difficulty: Years Ended December 31, 2024 2023 Weighted Average Term Extension Weighted Average Interest Rate Reduction Weighted Average Term Extension Loan Modifications C&I and other commercial 15.6 months — % 18.1 months CRE 3.8 months 2.50 % 21.0 months Real estate construction 6.0 months — % 12.0 months Weighted average modifications 10.3 months 2.50 % 16.8 months Performance of Modified Loans Busey closely monitors the performance of the loans that are modified for 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 December 31, 2024 Current 30-89 Days 90+ Days Non-accrual Modified Loans C&I and other commercial $ 26,500 $ — $ — $ — CRE 3,147 — — 15,000 Real estate construction 5,224 — — — Amortized cost of modified loans $ 34,871 $ — $ — $ 15,000 The following table provides the amortized cost basis of loans that had a payment default during the periods indicated, after having been modified during the 12 months before default for borrowers experiencing financial difficulty (dollars in thousands) . A default occurs when a loan is 90 days or more past due or transferred to non-accrual status. Years Ended December 31, 2024 2023 Term Extension Term Extension Loans with Subsequent Defaults C&I and other commercial $ — $ 88 CRE 15,000 — Amortized cost of modified loans with subsequent defaults $ 15,000 $ 88 Collateral Dependent Loans Management's evaluation as to the ultimate collectability of loans includes estimates regarding future cash flows from operations and the value of property, real and personal, pledged as collateral. These estimates are affected by changing economic conditions and the economic prospects of borrowers. Collateral dependent loans are loans in which repayment is expected to be provided solely by the underlying collateral and there are no other available and reliable sources of repayment. Loans are written down to the lower of cost or fair value of underlying collateral, less estimated costs to sell. Busey had $19.3 million and $6.1 million of collateral dependent loans secured by real estate or business assets as of December 31, 2024, and December 31, 2023, respectively. Loans Evaluated Individually Busey evaluates loans with disparate risk characteristics on an individual basis. The following tables provide details of loans evaluated individually, segregated by category 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 loans. Average recorded investment is calculated using the most recent four quarters (dollars in thousands) : As of December 31, 2024 Unpaid Recorded Investment Average With No With Total Related Loans evaluated individually Commercial loans: C&I and other commercial $ 7,127 $ 1,224 $ 2,456 $ 3,680 $ 1,840 $ 5,014 CRE 17,999 15,000 — 15,000 — 3,882 Commercial loans evaluated individually 25,126 16,224 2,456 18,680 1,840 8,896 Retail loans: Retail real estate 1,152 1,128 — 1,128 — 276 Retail loans evaluated individually 1,152 1,128 — 1,128 — 276 Total loans evaluated individually $ 26,278 $ 17,352 $ 2,456 $ 19,808 $ 1,840 $ 9,172 As of December 31, 2023 Unpaid Recorded Investment Average With No With Total Related Loans evaluated individually Commercial loans: C&I and other commercial $ 7,283 $ 585 $ 1,785 $ 2,370 $ 785 $ 5,244 CRE 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 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 table summarizes 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 in other lending activities (dollars in thousands) : C&I and Other Commercial CRE Real Estate Retail Retail Other Total ACL Balance, December 31, 2021 $ 23,855 $ 38,249 $ 5,102 $ 17,589 $ 3,092 $ 87,887 Provision for credit losses 497 892 1,142 219 1,873 4,623 Charged-off (1,069) (1,375) (23) (251) (461) (3,179) Recoveries 577 533 236 636 295 2,277 ACL balance, December 31, 2022 23,860 38,299 6,457 18,193 4,799 91,608 Provision for credit losses (727) (2,455) (1,465) 7,922 (876) 2,399 Charged-off (2,429) (953) — (407) (629) (4,418) Recoveries 552 574 171 590 264 2,151 ACL balance, December 31, 2023 21,256 35,465 5,163 26,298 3,558 91,740 Day 1 PCD 1 824 322 — 96 1 1,243 Provision for credit losses 14,455 (318) (1,885) (3,031) (631) 8,590 Charged-off (15,453) (3,314) — (168) (631) (19,566) Recoveries 507 146 67 516 161 1,397 ACL balance, December 31, 2024 $ 21,589 $ 32,301 $ 3,345 $ 23,711 $ 2,458 $ 83,404 __________________________________________ 1. The Day 1 PCD is attributable to the M&M acquisition, finalized April 1, 2024. The following tables present the ACL and amortized cost of portfolio loans by loan category and lending activity (dollars in thousands) : As of December 31, 2024 Portfolio Loans ACL Attributed to Portfolio Loans Collectively Individually Total Collectively Individually Total Portfolio loans and related ACL Commercial loans: C&I and other commercial $ 1,900,835 $ 3,680 $ 1,904,515 $ 19,749 $ 1,840 $ 21,589 CRE 3,254,564 15,000 3,269,564 32,301 — 32,301 Real estate construction 378,209 — 378,209 3,345 — 3,345 Commercial loans and related ACL 5,533,608 18,680 5,552,288 55,395 1,840 57,235 Retail loans: Retail real estate 1,695,329 1,128 1,696,457 23,711 — 23,711 Retail other 448,342 — 448,342 2,458 — 2,458 Retail loans and related ACL 2,143,671 1,128 2,144,799 26,169 — 26,169 Portfolio loans and related ACL $ 7,677,279 $ 19,808 $ 7,697,087 $ 81,564 $ 1,840 $ 83,404 As of December 31, 2023 Portfolio Loans ACL Attributed to Portfolio Loans Collectively Individually Total Collectively Individually Total Portfolio loans and related ACL Commercial loans: C&I and other commercial $ 1,833,624 $ 2,370 $ 1,835,994 $ 20,471 $ 785 $ 21,256 CRE 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

OTHER REAL ESTATE OWNED AND OTH

OTHER REAL ESTATE OWNED AND OTHER REPOSSESSED ASSETS	12 Months Ended
	Dec. 31, 2024
Other Real Estate, Foreclosed Assets, and Repossessed Assets [Abstract]
OTHER REAL ESTATE OWNED AND OTHER REPOSSESSED ASSETS	NOTE 5. OTHER REAL ESTATE OWNED AND OTHER REPOSSESSED ASSETS OREO and other repossessed assets represent properties and other assets acquired through foreclosure or other proceedings in settlement of loans and is included in other assets in the accompanying Consolidated Balance Sheets . The following table summarizes the composition of Busey’s OREO and other repossessed asset balances as of the periods presented (dollars in thousands) : As of December 31, 2024 2023 OREO Residential $ 63 $ 125 OREO and other repossessed assets $ 63 $ 125 The following table summarizes changes in the OREO and other repossessed assets balance (dollars in thousands) : Years Ended December 31, 2024 2023 2022 OREO and other repossessed assets at January 1 $ 125 $ 850 $ 4,416 Additions, transfers from loans 26 189 175 Sales (84) (770) (2,565) Cash payments collected (4) (44) (565) Impairment of OREO and other repossessed assets — (100) (611) OREO and other repossessed assets at December 31 $ 63 $ 125 $ 850 Busey’s recorded investment in residential real estate loans that were in the process of foreclosure was $0.4 million as of December 31, 2024, and $0.3 million as of December 31, 2023. Busey follows Federal Housing Finance Agency guidelines on single-family foreclosures and real estate owned evictions on portfolio loans. Busey incurs operating expenses for, and may have income from, OREO and other repossessed assets. Upon sale, Busey may recognize a gain or loss on the sale of OREO and other repossessed assets. The table below summarizes the effect of these activities, included in other expense on Busey’s Consolidated Statements of Income (dollars in thousands) : Years Ended December 31, 2024 2023 2022 Activity for OREO and other repossessed assets Net gain (loss) on sales $ 585 $ (54) $ (665) Operating income (expense), net (17) (67) (248) Activity for OREO and other repossessed assets $ 568 $ (121) $ (913)

PREMISES AND EQUIPMENT

PREMISES AND EQUIPMENT	12 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
PREMISES AND EQUIPMENT	NOTE 6. PREMISES AND EQUIPMENT Premises and equipment are summarized as follows (dollars in thousands) : As of December 31, 2024 2023 Premises and equipment Land and improvements $ 42,565 $ 43,076 Buildings and improvements 130,185 128,322 Furniture and equipment 53,945 51,077 Premises and equipment, gross 226,695 222,475 Accumulated depreciation 107,875 99,881 Premises and equipment, net $ 118,820 $ 122,594 Depreciation expense is presented in the table below for the periods indicated (dollars in thousands) : Years Ended December 31, 2024 2023 2022 Depreciation expense $ 9,503 $ 9,488 $ 10,482

LEASES

LEASES	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
LEASES	NOTE 7. 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 Busey reported in its Consolidated Balance Sheets for the periods presented (dollars in thousands) : As of December 31, 2024 2023 Lease balances Right of use assets $ 10,608 $ 11,027 Lease liabilities 11,040 11,308 Lease terms Year through which lease terms extend 2039 2037 Weighted average remaining lease term 7.55 years 8.39 years Weighted average discount rate 3.77 % 3.59 % The following table presents lease costs, which are included in net occupancy and equipment expense on the Consolidated Statements of Income (dollars in thousands) : Years Ended December 31, 2024 2023 2022 Lease costs Operating lease costs $ 2,352 $ 2,395 $ 2,495 Variable lease costs 58 38 365 Short-term lease costs 83 50 22 Total lease cost $ 2,493 $ 2,483 $ 2,882 Cash paid for amounts included in the measurement of lease liabilities was as follows (dollars in thousands) : Years Ended December 31, 2024 2023 2022 Cash flows related to leases Operating lease cash flows – Fixed payments $ 2,194 $ 2,290 $ 3,080 Operating lease cash flows – Liability reduction 1,798 1,883 2,285 Right of use assets obtained during the period in exchange for operating lease liabilities 1 1,579 231 6,206 ___________________________________________ 1. The year ended December 31, 2024, included $0.1 million right of use assets recognized in connection with the acquisition of M&M (see “ Note 2. Mergers and Acquisitions ” ), and an additional $0.7 million recognized in connection with a lease amendment that was executed subsequent to the acquisition of M&M 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, were as follows (dollars in thousands) : As of Rent commitments 2025 $ 2,082 2026 1,774 2027 1,558 2028 1,495 2029 1,505 Thereafter 4,376 Total undiscounted cash flows 12,790 Less: Amounts representing interest 1,750 Present value of net future minimum lease payments $ 11,040 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 Busey’s Consolidated Statements of Income , are summarized as follows (dollars in thousands) : Years Ended December 31, 2024 2023 2022 Rental income $ 820 $ 724 $ 707 Noncancellable terms for these leases, all of which are operating leases, extend through 2030. 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 2025 $ 782 2026 603 2027 403 2028 290 2029 109 Thereafter 27 Total lease payments from operating leases $ 2,214
LEASES	NOTE 7. 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 Busey reported in its Consolidated Balance Sheets for the periods presented (dollars in thousands) : As of December 31, 2024 2023 Lease balances Right of use assets $ 10,608 $ 11,027 Lease liabilities 11,040 11,308 Lease terms Year through which lease terms extend 2039 2037 Weighted average remaining lease term 7.55 years 8.39 years Weighted average discount rate 3.77 % 3.59 % The following table presents lease costs, which are included in net occupancy and equipment expense on the Consolidated Statements of Income (dollars in thousands) : Years Ended December 31, 2024 2023 2022 Lease costs Operating lease costs $ 2,352 $ 2,395 $ 2,495 Variable lease costs 58 38 365 Short-term lease costs 83 50 22 Total lease cost $ 2,493 $ 2,483 $ 2,882 Cash paid for amounts included in the measurement of lease liabilities was as follows (dollars in thousands) : Years Ended December 31, 2024 2023 2022 Cash flows related to leases Operating lease cash flows – Fixed payments $ 2,194 $ 2,290 $ 3,080 Operating lease cash flows – Liability reduction 1,798 1,883 2,285 Right of use assets obtained during the period in exchange for operating lease liabilities 1 1,579 231 6,206 ___________________________________________ 1. The year ended December 31, 2024, included $0.1 million right of use assets recognized in connection with the acquisition of M&M (see “ Note 2. Mergers and Acquisitions ” ), and an additional $0.7 million recognized in connection with a lease amendment that was executed subsequent to the acquisition of M&M 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, were as follows (dollars in thousands) : As of Rent commitments 2025 $ 2,082 2026 1,774 2027 1,558 2028 1,495 2029 1,505 Thereafter 4,376 Total undiscounted cash flows 12,790 Less: Amounts representing interest 1,750 Present value of net future minimum lease payments $ 11,040 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 Busey’s Consolidated Statements of Income , are summarized as follows (dollars in thousands) : Years Ended December 31, 2024 2023 2022 Rental income $ 820 $ 724 $ 707 Noncancellable terms for these leases, all of which are operating leases, extend through 2030. 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 2025 $ 782 2026 603 2027 403 2028 290 2029 109 Thereafter 27 Total lease payments from operating leases $ 2,214

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	NOTE 8. GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill Busey’s goodwill is associated with its three operating segments, Banking, Wealth Management, and FirsTech. Goodwill is tested annually for impairment, and as part of this analysis, the reporting unit's carrying value is compared to its estimated fair value. Based on the impairment testing performed at December 31, 2024, there were no indicators of potential impairment. During the year ended December 31, 2024, in connection with the acquisition of M&M, Busey recorded goodwill totaling $15.8 million and other intangible assets of $6.3 million, both in the Banking segment. Busey did not record any new goodwill or other intangible assets during the year ended December 31, 2023. The carrying amount of goodwill by operating segment is as follows (dollars in thousands) : As of December 31, 2024 2023 Goodwill Banking $ 310,595 $ 294,773 Wealth Management 14,108 14,108 FirsTech 8,992 8,992 Total goodwill $ 333,695 $ 317,873 Indefinite-lived intangible assets, such as goodwill, are not amortized. Goodwill is Busey's only indefinite-lived intangible asset. Intangible Assets Core deposit and customer relationship intangible assets are amortized over the estimated period during which Busey expects to benefit from the assets. Intangible asset disclosures are as follows (dollars in thousands) : As of December 31, 2024 Core deposit Customer Total Intangible Assets Intangible assets, gross $ 105,411 $ 33,138 $ 138,549 Accumulated amortization 78,831 27,438 106,269 Intangible assets, net $ 26,580 $ 5,700 $ 32,280 As of December 31, 2023 Core deposit Customer Total Intangible Assets Intangible assets, gross $ 99,065 $ 33,138 $ 132,203 Accumulated amortization 71,092 25,120 96,212 Intangible assets, net $ 27,973 $ 8,018 $ 35,991 Amortization expense related to intangible assets, as reflected on Busey's Consolidated Statements of Income , is presented in the table below (dollars in thousands) : Years Ended December 31, 2024 2023 2022 Amortization Expense Core deposit intangible $ 7,739 $ 7,616 $ 8,315 Customer relationship intangible 2,318 2,816 3,313 Amortization of intangible assets $ 10,057 $ 10,432 $ 11,628 Future expense for the amortization of intangible assets, as estimated, is summarized in the table below (dollars in thousands) : As of December 31, 2024 Core deposit Customer Total Estimated amortization expense 2025 $ 6,895 $ 1,887 $ 8,782 2026 6,035 1,479 7,514 2027 5,200 1,091 6,291 2028 4,365 703 5,068 2029 1,719 360 2,079 Thereafter 2,366 180 2,546 Total estimated amortization expense $ 26,580 $ 5,700 $ 32,280

DEPOSITS

DEPOSITS	12 Months Ended
	Dec. 31, 2024
Deposits [Abstract]
DEPOSITS	NOTE 9. DEPOSITS The composition of Busey’s deposits is as follows (dollars in thousands) : As of December 31, 2024 2023 Deposits Noninterest-bearing demand deposits $ 2,719,907 $ 2,834,655 Interest-bearing transaction deposits 2,423,237 2,717,139 Saving deposits and money market deposits 3,348,711 2,920,088 Time deposits 1,490,635 1,819,274 Total deposits $ 9,982,490 $ 10,291,156 Additional information about Busey’s deposits follows (dollars in thousands) : As of December 31, 2024 2023 Brokered savings deposits and money market deposits $ 6,002 $ 6,001 Brokered time deposits 7,088 285 Total time deposits with a minimum denomination of $100,000 860,193 1,072,189 Total time deposits with a minimum denomination that meets or exceeds the FDIC insurance limit of $250,000 334,503 386,286 Scheduled maturities of time deposits are as follows (dollars in thousands) : As of Time deposits by schedule of maturities 2025 $ 1,427,748 2026 33,459 2027 14,964 2028 8,178 2029 5,838 Thereafter 448 Time deposits $ 1,490,635

BORROWINGS

BORROWINGS	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
BORROWINGS	NOTE 10. BORROWINGS Securities Sold Under Agreements to Repurchase Securities sold under agreements to repurchase, which are classified as secured borrowings, generally mature daily. Securities sold under agreements to repurchase are reflected at the amount of cash received in connection with the transaction. The underlying securities are held by Busey’s safekeeping agent. Busey may be required to provide additional collateral based on fluctuations in the fair value of the underlying securities. Securities sold under agreements to repurchase were as follows (dollars in thousands) : As of December 31, 2024 2023 Securities sold under agreements to repurchase $ 155,610 $ 187,396 Weighted average rate for securities sold under agreements to repurchase 2.63 % 3.26 % Term Loan On May 28, 2021, Busey entered into a Second Amended and Restated Credit Agreement, pursuant to which Busey has access to (1) a $40.0 million revolving line of credit with an initial termination date of April 30, 2022, and (2) a $60.0 million Term Loan with a maturity date of May 31, 2026. The loans had an annual interest rate of 1.75% plus the one-month LIBOR rate. On April 30, 2022, the agreement was amended, effecting an extension of the termination date for the revolving line of credit to April 30, 2023, and providing for the transition from a LIBOR-indexed interest rate to a SOFR-indexed interest rate. Under the terms of the amendment, the 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 December 31, 2024, there was no balance outstanding on the revolving credit facility. The revolving credit facility incurs a non-usage fee based on any undrawn amounts. Short-Term Borrowings Busey’s short-term borrowings may include loans maturing within one year of the loan origination date, as well as the current portion of long-term debt that is due within 12 months. Short-term borrowings are summarized as follows (dollars in thousands) : As of December 31, 2024 2023 Term Loan, current portion due within 12 months $ — $ 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 December 31, 2024, or 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 December 31, 2024 2023 Term Loan $ — $ 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 (1) 5.000% per annum from the original issue date to, but excluding, June 15, 2027, payable semiannually in arrears, and (2) a floating rate per annum equal to a benchmark rate, which is expected to be the Three-Month Term SOFR 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 (1) 5.25% per annum from the original issue date to December 4, 2025, and (2) 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 December 31, 2024 2023 Unamortized debt issuance costs Subordinated notes issued in 2020 $ 222 $ 735 Subordinated notes issued in 2022 1,004 1,383 Total unamortized debt issuance costs $ 1,226 $ 2,118

JUNIOR SUBORDINATED DEBT OWED T

JUNIOR SUBORDINATED DEBT OWED TO UNCOLSOLIDATED TRUSTS	12 Months Ended
	Dec. 31, 2024
Junior Subordinated Debt Owed to Unconsolidated Trusts
JUNIOR SUBORDINATED DEBT OWED TO UNCOLSOLIDATED TRUSTS	NOTE 11. JUNIOR SUBORDINATED DEBT OWED TO UNCONSOLIDATED TRUSTS Busey maintains statutory trusts for the sole purpose of issuing and servicing trust preferred securities and related trust common securities. Proceeds from such issuances were used by the trusts to purchase junior subordinated notes issued by Busey, which are the sole assets of each trust. Concurrent with the issuance of the trust preferred securities, Busey issued guarantees for the benefit of the holders of the trust preferred securities. The trust preferred securities are instruments that qualify and are treated as Tier 1 regulatory capital. Busey owns all of the common securities of each trust. The trust preferred securities issued by each trust rank equally with the common securities in right of payment, except that if an event of default under the indenture governing the notes has occurred and is continuing, the preferred securities will rank senior to the common securities in right of payment. Busey had $74.8 million and $72.0 million of junior subordinated debt owed to unconsolidated trusts at December 31, 2024, and 2023, respectively, maturing in 2033 through 2036. In connection with its acquisitions of Pulaski Financial Corp. in 2016 and M&M in 2024, Busey has acquired similar statutory trusts and the fair value adjustment is being accreted over their weighted average remaining lives, with a balance of $2.9 million and $2.6 million remaining to be accreted as of December 31, 2024, and 2023, respectively. Busey’s trust preferred securities are subject to mandatory redemption, in whole or in part, upon repayment of the junior subordinated notes at par value at the stated maturity date or upon redemption. Each trust’s ability to pay amounts due on the trust preferred securities is solely dependent upon Busey making payments on the related junior subordinated notes. Busey’s obligations under the junior subordinated notes and other relevant trust agreements, in aggregate, constitute a full and unconditional guarantee by Busey of each trust’s obligations under the trust preferred securities issued by each trust. Busey has the right to defer payment of interest on the notes, in which case the distributions on the trust preferred securities will also be deferred, for up to five years, but not beyond the stated maturity date. For regulatory capital purposes, current banking regulations allow for the inclusion in Tier 1 Capital of qualifying trust preferred securities issued prior to May 19, 2010, by bank holding companies with less than $15.0 billion of assets, but do not allow for additional Tier 1 Capital to be raised through the future issuance of trust preferred securities. As of December 31, 2024, 100% of the trust preferred securities qualified as Tier 1 Capital; however, once Busey reaches $15.0 billion in assets, its trust preferred securities will no longer quality as Tier 1 Capital.

REGULATORY CAPITAL

REGULATORY CAPITAL	12 Months Ended
	Dec. 31, 2024
Banking and Thrift, Other Disclosure [Abstract]
REGULATORY CAPITAL	NOTE 12. 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 Busey's Consolidated Financial Statements . Capital amounts and classification also are subject to qualitative judgments by regulators about components, risk weightings, and other factors. Banking regulations identify five capital categories for insured depository institutions: well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized, and critically undercapitalized. As of December 31, 2024 and 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 December 31, 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 Busey elected to use the deferral option, the regulatory capital impact of Busey’s 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 Busey’s ACL, retained earnings, and average total consolidated assets from January 1, 2020, through the end of the two-year deferral period, each as reported for regulatory capital purposes, has been added to the deferred transition amounts (“adjusted transition amounts”) and deferred for the two-year period. On January 1, 2022, at the conclusion of the two-year period, the adjusted transition amounts began to be phased-in for regulatory capital purposes at a rate of 25 percent per year, with the phased-in amounts included in regulatory capital at the beginning of each year. Capital Amounts and Ratios The following tables summarize regulatory capital requirements applicable to Busey and its subsidiary bank (dollars in thousands) : As of December 31, 2024 Actual Minimum Minimum Amount Ratio Amount Ratio Amount Ratio Common equity Tier 1 capital to risk weighted assets First Busey $ 1,237,301 14.10 % $ 394,840 4.50 % $ 570,325 6.50 % Busey Bank $ 1,438,296 16.46 % $ 393,277 4.50 % $ 568,067 6.50 % Tier 1 capital to risk weighted assets First Busey $ 1,314,301 14.98 % $ 526,453 6.00 % $ 701,938 8.00 % Busey Bank $ 1,438,296 16.46 % $ 524,369 6.00 % $ 699,159 8.00 % Total capital to risk weighted assets First Busey $ 1,625,943 18.53 % $ 701,938 8.00 % $ 877,422 10.00 % Busey Bank $ 1,520,938 17.40 % $ 699,159 8.00 % $ 873,949 10.00 % Leverage ratio of Tier 1 capital to average assets First Busey $ 1,314,301 11.06 % $ 475,348 4.00 % N/A N/A Busey Bank $ 1,438,296 12.14 % $ 473,878 4.00 % $ 592,347 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%, (2) Tier 1 capital to risk-weighted assets of at least 8.5%, and (3) total capital to risk-weighted assets of at least 10.5%. Subsidiary Dividend Payments First Busey Corporation’s ability to pay cash dividends to its stockholders and to service its debt is dependent on the receipt of cash dividends from its subsidiaries. Under applicable regulatory requirements, an Illinois state-chartered bank, such as Busey Bank, may not pay dividends in excess of its net profits. Busey Bank paid $100.0 million, $90.0 million, and $95.0 million in dividends to First Busey Corporation during the years ended December 31, 2024, 2023, and 2022, respectively.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 13. INCOME TAXES Components of Busey’s income tax expense consist of the following (dollars in thousands) : Years Ended December 31, 2024 2023 2022 Income tax expense Current expense: Federal $ 26,696 $ 20,139 $ 20,815 State 11,533 14,120 13,883 Deferred expense: Federal 1,561 (1,557) (700) State (177) (1,363) (572) Total income tax expense $ 39,613 $ 31,339 $ 33,426 A reconciliation of federal and state income taxes at statutory rates to Busey’s income taxes included in the accompanying Consolidated Statements of Income is as follows: Years Ended December 31, 2024 2023 2022 Percent of pretax income Income tax at federal statutory rate 21.0 % 21.0 % 21.0 % Effect of: Tax-exempt interest, net (0.7) % (1.0) % (1.1) % Stock incentive — % 0.2 % 0.1 % State income taxes, net 5.8 % 6.5 % 6.5 % Income on bank owned life insurance (0.7) % (0.6) % (0.5) % Tax credit investments (3.1) % (6.0) % (5.6) % Other, net 3.5 % 0.3 % 0.3 % Effective income tax rate 25.8 % 20.4 % 20.7 % Net deferred taxes, reported in other assets or other liabilities on Busey’s Consolidated Balance Sheets , include the following amounts of deferred tax assets and liabilities (dollars in thousands) : As of December 31, 2024 2023 Deferred taxes Deferred tax assets: ACL $ 23,685 $ 27,068 Unrealized loss on cash flow hedge 7,256 6,654 Unrealized losses on securities available for sale, net 61,479 70,423 Unrealized losses on securities held to maturity 8,068 10,156 Stock-based compensation 6,431 5,767 Purchase accounting adjustments 2,076 764 Accrued vacation 493 456 Lease liabilities 2,951 3,092 Employee costs 5,725 4,789 Unrealized loss on equity securities — 75 Other — 67 Total deferred tax assets 118,164 129,311 Deferred tax liabilities: Basis in premises and equipment (2,419) (2,830) Affordable housing partnerships and other investments (8,011) (8,341) Purchase accounting adjustments (1,022) (1,133) Mortgage servicing assets (745) (1,336) Basis in core deposit, customer intangible assets, and asset purchase goodwill (3,325) (4,709) Deferred loan origination costs (3,317) (3,691) Right of use assets (2,835) (3,015) Unrealized gain on equity securities (172) — Other (856) (251) Total deferred tax liabilities (22,702) (25,306) Net deferred tax asset $ 95,462 $ 104,005 Management believes that it is more likely than not that the net deferred tax asset included in the accompanying Consolidated Balance Sheets will be fully realized. Busey has determined that no valuation allowance is required for any deferred tax assets as of December 31, 2024, or 2023.

TAX CREDIT AND OTHER INVESTMENT

TAX CREDIT AND OTHER INVESTMENTS IN UNCONSOLIDATED ENTITIES	12 Months Ended
	Dec. 31, 2024
Investments, All Other Investments [Abstract]
TAX CREDIT AND OTHER INVESTMENTS IN UNCONSOLIDATED ENTITIES	NOTE 14. TAX CREDIT AND OTHER INVESTMENTS IN UNCONSOLIDATED ENTITIES Busey’s investments in unconsolidated entities and related unfunded investment obligations are reflected in other assets and other liabilities on the Consolidated Balance Sheets , and are summarized in the table below for the periods indicated (dollars in thousands) : As of December 31, Location 2024 2023 Investments in unconsolidated entities Funded investments Other assets $ 70,796 $ 68,516 Unfunded investments Other assets 61,210 58,552 Investments in unconsolidated entities $ 132,006 $ 127,068 Unfunded investment obligations Other liabilities $ 61,210 $ 58,552 Income tax credits and other benefits, along with investment amortization, are presented in the table below (dollars in thousands) . Beginning in 2024, income tax credits and other tax benefits, net of investment amortization, were included as a component of Busey’s estimated annual effective tax rate used for the calculation of income taxes presented on the Consolidated Statements of Income . Year Ended December 31, 2024 Income tax credits and other tax benefits $ 20,734 Amortization of investments in tax-advantaged projects 18,494

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	12 Months Ended
	Dec. 31, 2024
Employee Benefit Plans
EMPLOYEE BENEFIT PLANS	NOTE 15. EMPLOYEE BENEFIT PLANS 401(k) Plan Busey provides retirement benefits under its 401(k) Plan. All Busey associates who meet certain age requirements are eligible to participate in the 401(k) Plan. There is no waiting period for participation in the 401(k) Plan. The 401(k) Plan is funded primarily through participant contributions via payroll deductions, with two contribution options: (1) the traditional option allows plan participants to elect pre-tax contributions, and (2) the Roth option allows plan participants to elect after-tax contributions. Plan participants may elect to make traditional and/or Roth 401(k) contributions, up to the annual deferral and catch-up limits established by the Internal Revenue Service. Busey supplements participant contributions by making safe harbor matching and discretionary profit-sharing contributions to the 401(k) Plan. Safe Harbor Match Busey makes safe harbor matching contributions to the 401(k) Plan equal to 100% of the first 3% of eligible participant compensation contributed to the plan and 50% of the next 2% of eligible participant compensation contributed to the plan. The rights of participants in safe harbor matching contributions vest immediately. Profit Sharing All associates who meet certain age and service requirements are eligible to participate in Busey's profit-sharing contributions. Discretionary profit-sharing contributions and related expenses, if any, are approved solely by the First Busey Corporation board of directors, and in no case may annual contributions be greater than the amounts deductible for federal income tax purposes for that year. The rights of participants in profit-sharing contributions vest ratably over a five-year period. 401(k) Plan Expenses Expenses related to Busey’s employee benefit plans, reported in salaries, wages, and employee benefits in the accompanying Consolidated Statements of Income , are summarized in the table below (dollars in thousands) : Years Ended December 31, 2024 2023 2022 401(k) Plan expenses Safe harbor match expenses $ 4,486 $ 3,745 $ 4,094 Profit-sharing expenses 3,370 3,031 2,960 Total 401(k) Plan expenses $ 7,856 $ 6,776 $ 7,054

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	NOTE 16. STOCK-BASED COMPENSATION Stock Options Busey has outstanding stock options that were issued under the First Community 2016 Equity Incentive Plan and assumed from acquisitions. A summary of the status of, and changes in, Busey's stock option awards follows (dollars in thousands, except weighted-average exercise price) : Options Shares Weighted- Weighted- Intrinsic Outstanding at December 31, 2023 21,266 $ 23.53 2.88 years $ 27 Exercised (2,640) 23.53 Forfeited (3,520) 23.53 Outstanding at December 31, 2024 15,106 23.53 1.87 years 1 Exercisable at December 31, 2024 15,106 23.53 1.87 years 1 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. A description of RSU, PSU, and DSU awards granted in 2024 under the terms of the 2020 Equity Plan is provided below. A description of RSU, PSU, and DSU awards granted in 2023 and 2022 under the terms of the 2020 Equity Plan can be found in Busey’s Annual Reports for the years ended December 31, 2023, and 2022, respectively. Busey issued 163,387 treasury shares in conjunction with the settlement of RSUs, PSUs, and DSUs in 2024. The difference between the number of shares issued and the number of vested units is due to shares issued under a net share settlement option. There were 1,326,314 shares available for issuance under the 2020 Equity Plan as of December 31, 2024. 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 year ended December 31, 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 42,986 24.74 Vested (187,446) 25.38 Forfeited (32,255) 22.48 Nonvested at December 31, 2024 1,066,772 $ 21.80 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 for the applicable performance period and remaining employed through the end of such performance period. 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 the established performance criteria 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 relative total stockholder return performance goal. The grant date fair value of the award, calculated using the Geometric Brownian Motion Model, 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 is subject to adjustment based on the extent to which performance goals are expected to be achieved. A summary of changes in Busey’s PSU awards for the year ended December 31, 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 4,264 22.95 Vested 2 (147,397) 26.07 Forfeited (15,733) 22.47 Nonvested at December 31, 2024 372,042 $ 21.15 Vested and outstanding at December 31, 2024 2 143,133 $ 26.17 ___________________________________________ 1. Shares for PSU awards represent target shares at grant date. 2. PSUs granted in 2022 vested on December 31, 2024. Shares represent target amounts. Performance determinations were calculated and approved by Busey’s Compensation Committee on January 31, 2025, and settlement activity will take place in the first quarter of 2025. DSU Awards Busey grants DSU awards to its non-employee directors. DSU awards are stock-based awards with a deferred settlement date. Each DSU is equivalent to one share of Busey’s common stock. DSUs vest over a one-year period following the grant date. Under the 2020 Equity Plan, DSUs are generally subject to the same terms as RSUs, except that following vesting of DSUs, settlement occurs within 30 days following the earlier of separation from the board or a change in control of the Company. After vesting and prior to delivery, DSUs will continue to earn dividend equivalents. On March 20, 2024, under the terms of the 2020 Equity Plan, Busey granted 35,847 DSUs to non-employee directors. The grant date fair value of the award totaled $0.8 million and will be recognized as compensation expense over the requisite service period of one year. Subsequent to the requisite service period, the awards will become 100% vested. A summary of changes in Busey’s DSU awards for the year ended December 31, 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 8,213 24.79 Vested (49,168) 21.04 Forfeited (1,025) 20.44 Nonvested at December 31, 2024 36,893 $ 23.40 Vested and outstanding at December 31, 2024 184,941 $ 22.85 Employee Stock Purchase Plan The First Busey Corporation ESPP was approved at Busey’s 2021 Annual Meeting of Stockholders. The purpose of the ESPP is to provide a means through which Busey employees may acquire a proprietary interest in the Company by purchasing shares of its common stock at a 15% discount through voluntary payroll deductions, to assist in retaining the services of current employees and securing and retaining the services of new employees, and to provide incentives for Busey employees to exert maximum efforts toward the Company’s success. Substantially all of Busey’s employees are eligible to participate, and all participating employees have equal rights and privileges under the terms of the ESPP. Further details can be found in Appendix A within Busey’s Definitive Proxy Statement filed with the SEC on April 8, 2021 . 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 393,536 shares available for issuance under the ESPP as of December 31, 2024. Stock-Based Compensation Expense Busey did not record any stock option compensation expense for the years ended December 31, 2024, 2023, or 2022. Busey did not have any unrecognized stock option compensation expense as of December 31, 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) : Years Ended December 31, Location 2024 2023 2022 Stock-based compensation expense RSU awards Salaries, wages, and employee benefits $ 3,823 $ 2,622 $ 4,648 PSU awards 1 Salaries, wages, and employee benefits 2,867 2,962 3,240 DSU awards Other expense 826 833 876 ESPP Salaries, wages, and employee benefits 210 178 204 Total stock-based compensation expense $ 7,726 $ 6,595 $ 8,968 ___________________________________________ 1. Expense for PSU awards with a relative total stockholder return performance goal represents amounts based on target shares at the grant date. Expense for PSU awards with return on average tangible common equity and compounded annual revenue growth rate performance goals represents amounts based on target shares at the grant date, adjusted for performance expectations as of the date indicated. Unamortized stock-based compensation expense is presented in the table below (dollars in thousands) : As of December 31, 2024 2023 Unamortized stock-based compensation RSU awards $ 7,093 $ 6,842 PSU awards 1 3,043 3,607 DSU awards 181 190 Total unamortized stock-based compensation $ 10,317 $ 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 relative total stockholder return performance goal represents amounts based on target shares at grant date. Unamortized expense for PSU awards with return on average tangible common equity and compounded annual revenue growth rate performance goals represents amounts based on target shares at grant date, adjusted for performance expectations as of the date indicated.

TRANSACTIONS WITH RELATED PARTI

TRANSACTIONS WITH RELATED PARTIES	12 Months Ended
	Dec. 31, 2024
Related Party Transactions [Abstract]
TRANSACTIONS WITH RELATED PARTIES	NOTE 17. TRANSACTIONS WITH RELATED PARTIES Busey has had, and may be expected to have in the future, banking transactions in the ordinary course of business with related parties which include directors, executive officers, chief credit officers, their immediate families, and affiliated companies in which they have 10% or more beneficial ownership, on the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with others. The following table presents changes in loans to related parties, as a group (dollars in thousands) : As of and for the Year Ended Balance of loans to related parties, December 31, 2023 $ 77,649 Change in relationship 1,435 New loans/advances 178,924 Repayments (159,997) Balance of loans to related parties, December 31, 2024 $ 98,011 Unused commitments to directors and executive officers $ 26,383 Loans to related parties did not include significant amounts that were past due, non-accrual, or modified.

OUTSTANDING COMMITMENTS AND CON

OUTSTANDING COMMITMENTS AND CONTINGENT LIABILITIES	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
OUTSTANDING COMMITMENTS AND CONTINGENT LIABILITIES	NOTE 18. OUTSTANDING COMMITMENTS AND CONTINGENT LIABILITIES Credit Commitments and Contingencies A summary of the contractual amount of Busey’s exposure to off-balance-sheet risk relating to the Company’s commitments to extend credit and standby letters of credit follows (dollars in thousands) : As of December 31, 2024 2023 Financial instruments whose contract amounts represent credit risk Commitments to extend credit $ 2,512,714 $ 2,132,500 Standby letters of credit 35,464 43,996 Total commitments $ 2,548,178 $ 2,176,496 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. Franchise Tax Matter In 2021, Busey received an inquiry from the Illinois Secretary Of State, pursuant to which the Illinois Secretary Of State asked for additional information regarding certain of Busey’s 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 delivered additional BCA forms requested by the Illinois Secretary Of State, 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 Busey to pay additional taxes, including potential penalties and interest, or make other expenditures or accrue liabilities in amounts that could not be reasonably estimated as of December 31, 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	12 Months Ended
	Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS	NOTE 19. 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 20. Fair Value Measurements ” for further discussion of the fair value measurement of such derivatives. To secure its obligations under derivative contracts, Busey pledged cash and held collateral as follows (dollars in thousands) : As of December 31, 2024 2023 Cash pledged to secure obligations under derivative contracts $ 21,900 $ 34,210 Collateral held to secure obligations under derivative contracts 20,260 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 $500.0 million as of December 31, 2024, and $350.0 million as of December 31, 2023, were designated as cash flow hedges. Busey entered into a $300.0 million receive fixed pay floating interest rate swap to reduce Busey's asset sensitivity (“Prime Loan Swap”). Duration was added to Busey’s 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 forward-starting SOFR-based receive-fixed pay-floating interest rate swaps totaling $200.0 million to reduce Busey’s asset sensitivity (“SOFR Loan Swaps”). 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. During 2024 an 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 fair value were recorded net of tax in OCI. A summary of the interest-rate swaps designated as cash flow hedges is presented below (dollars in thousands) : As of December 31, Location 2024 2023 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 7.62 % 8.50 % Weighted average maturity 4.10 years 5.10 years SOFR Loan Swaps Notional amount $ 200,000 $ — Weighted average rate: receive-fixed 3.78 % — Weighted average maturity 4.76 years — Gross aggregate fair value of the swaps Gross aggregate fair value of swap assets Other assets $ — $ 1,293 Gross aggregate fair value of swap liabilities Other liabilities $ 27,770 $ 25,411 Balances carried in AOCI Unrealized gains (losses) on cash flow hedges, net of tax AOCI $ (19,805) $ (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 December 31, 2024. As of Unrealized losses expected to be reclassified from OCI to interest income $ (725) Interest income (expense) recorded on swap transactions was as follows for the periods presented (dollars in thousands) : Years Ended December 31, 2024 2023 2022 Interest on swap transactions Increase (decrease) in interest income on swap transactions $ (10,669) $ (10,326) $ (553) (Increase) decrease in interest expense on swap transactions 1,378 1,757 (30) Net increase (decrease) in net interest income on swap transactions $ (9,291) $ (8,569) $ (583) The following table reflects the net gains (losses) recorded in AOCI and the Consolidated Statements of Comprehensive Income relating to cash flow derivative instruments for the periods presented (dollars in thousands) : Years Ended December 31, 2024 2023 2022 Unrealized gains (losses) on cash flow hedges Net gain (loss) recognized in OCI, net of tax $ (10,790) $ (1,835) $ (20,717) (Gain) loss reclassified from OCI to interest income, net of tax 8,818 7,382 395 (Gain) loss reclassified from OCI to interest expense, net of tax (1,139) (1,256) 22 Net change in unrealized gains (losses) on cash flow hedges, net of tax $ (3,111) $ 4,291 $ (20,300) 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 a third-party dealer. These contracts supported variable rate, commercial loan relationships totaling $719.2 million and $663.1 million as of December 31, 2024 and 2023, respectively. These derivatives generally worked together as an economic interest rate hedge, but Busey did not designate them for hedge accounting treatment. Consequently, changes in fair value of the corresponding derivative financial asset or liability were recorded as either a charge or credit to current earnings during the period in which the changes occurred. Amounts and fair values of derivative assets and liabilities related to customer interest rate swaps recorded on the Consolidated Balance Sheets are summarized as follows (dollars in thousands) : As of December 31, 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 $ 156,539 $ 1,465 $ 177,883 $ 2,375 Interest rate swaps: receive-floating, pay-fixed Other assets 562,697 28,854 485,253 26,289 Derivative assets not designated as hedging instruments $ 719,236 $ 30,319 $ 663,136 $ 28,664 Derivative liabilities not designated as hedging instruments Interest rate swaps: receive-fixed, pay-floating Other liabilities $ 562,697 $ 28,854 $ 485,253 $ 26,289 Interest rate swaps: receive-floating, pay-fixed Other liabilities 156,539 1,465 177,883 2,375 Derivative liabilities not designated as hedging instruments $ 719,236 $ 30,319 $ 663,136 $ 28,664 Changes in fair value of these derivative assets and liabilities were recorded in noninterest expense on the Consolidated Statements of Income and are summarized as follows (dollars in thousands) : Years Ended December 31, Location 2024 2023 2022 Interest rate swaps Receive-fixed, pay-floating Noninterest expense $ 1,726 $ (11,525) $ 19,308 Receive-floating, pay-fixed Noninterest expense (1,726) 11,525 (19,308) 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 December 31, 2024 2023 Risk participation agreements purchased Number of risk participation agreements 5 3 Notional amount $ 40,092 $ 34,251 Fair value 5 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 , 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 . 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 are summarized as follows (dollars in thousands) : As of December 31, 2024 As of December 31, 2023 Location Notional Fair Notional Fair Mortgage banking derivative assets Interest rate lock commitments Other assets $ 2,430 $ 28 $ 3,477 $ 25 Forward sales commitments Other assets 3,457 21 1,761 11 Mortgage banking derivative assets $ 5,887 $ 49 $ 5,238 $ 36 Mortgage banking derivative liabilities Interest rate lock commitments Other liabilities $ 436 $ 4 $ 1,615 $ 10 Forward sales commitments Other liabilities 1,955 6 5,216 47 Mortgage banking derivative liabilities $ 2,391 $ 10 $ 6,831 $ 57 Net gains (losses) relating to these derivative instruments are summarized as follows (dollars in thousands) : Years Ended December 31, Location 2024 2023 2022 Net gains (losses) on mortgage banking derivatives Gains (losses) on interest rate lock commitments Mortgage revenue $ 585 $ — $ 15 Gains (losses) on forward sales commitments Mortgage revenue (147) 2 (38) Net gains (losses) on mortgage banking derivatives $ 438 $ 2 $ (23) Gains or losses are recognized on these mortgage banking derivative instruments in earnings; however, because loans held for sale are carried at LOCOM, any corresponding increase in the fair value of loans held for sale will not be recognized in earnings until the loans are sold, at which time the increase is factored into the calculated gain on sale. Decreases in the market value of loans held for sale is recognized in earnings at each measurement period.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	NOTE 20. 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 determining the fair values of assets or liabilities that reflect the Company’s own assumptions about the assumptions that market participants would use in pricing the assets or liabilities. A description of the valuation methodologies used for instruments measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy, is set forth below. These valuation methodologies were applied to Busey’s assets and liabilities that are carried at fair value. In general, fair value 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 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. Derivative balances are included in other assets or other liabilities on the Consolidated Balance Sheets , and consist of interest rate swaps and risk participation agreements where there is no significant deterioration in the counterparties (loan customers) credit risk since origination of the interest rate swap or risk participation agreement, as well as mortgage banking derivatives, including interest rate lock commitments and forward sales commitments. Fair values of derivative assets and liabilities are estimated based on prices that are obtained from a third-party which uses observable market inputs and, with the exception of risk participation agreements, are classified as Level 2. For purposes of potential valuation adjustments to Busey’s derivative positions, Busey evaluates the credit risk of its counterparties as well as its own credit risk. Accordingly, Busey has considered factors such as the likelihood of default, expected loss given default, net exposures, and remaining contractual life, among other things, in determining if any estimated fair value adjustments related to credit risk are required. Busey reviews counterparty exposure quarterly, and when necessary, appropriate adjustments are made to reflect the exposure. No changes in counterparty credit were identified. Due to the significance of unobservable inputs, derivative assets related to 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 as of December 31, 2024 and 2023, segregated by the level of the valuation inputs within the fair value hierarchy utilized to estimate fair value (dollars in thousands) : As of December 31, 2024 Level 1 Level 2 Level 3 Total Debt securities available for sale: Obligations of U.S. government corporations and agencies $ — $ 1,400 $ — $ 1,400 Obligations of states and political subdivisions — 139,829 — 139,829 Asset-backed securities — 336,557 — 336,557 Commercial mortgage-backed securities — 92,174 — 92,174 Residential mortgage-backed securities — 1,087,210 — 1,087,210 Corporate debt securities — 153,051 — 153,051 Equity securities 5,567 10,295 — 15,862 Derivative assets — 30,368 5 30,373 Derivative liabilities — 58,099 — 58,099 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) : Years Ended December 31, Location 2024 2023 Beginning Balance $ 15 $ 5 Gains (losses) recognized in earnings Other expense (26) (60) Purchases 16 70 Ending Balance $ 5 $ 15 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, and is included in premises and equipment, net on the Consolidated Balance Sheets . Fair values were based upon discounted appraisals or real estate listing prices. Due to the significance of unobservable inputs, fair values of all bank property held for sale have been classified as Level 3. The following tables summarize assets and liabilities measured at estimated fair value on a non-recurring basis, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value (dollars in thousands) : As of December 31, 2024 Level 1 Level 2 Level 3 Total Loans evaluated individually, net of related allowance $ — $ — $ 616 $ 616 Bank property held for sale with impairment — — 2,841 2,841 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 December 31, 2024 Fair Value Valuation Unobservable Range Loans evaluated individually, net of related allowance $ 616 Appraisal of collateral Appraisal adjustments -25.0% to -100.0% (-74.9)% Bank property held for sale with impairment 2,841 Appraisal of collateral or real estate listing price Appraisal adjustments -9.0% to -76.7% (-51.8)% 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 were estimated as follows, segregated by the level of the valuation inputs within the fair value hierarchy used to measure fair value (dollars in thousands) : As of December 31, 2024 As of December 31, 2023 Carrying Fair Carrying Fair Financial assets Level 1 inputs: Cash and cash equivalents $ 697,659 $ 697,659 $ 719,581 $ 719,581 Level 2 inputs: Debt securities held to maturity 826,630 675,053 872,628 730,397 Loans held for sale 3,657 3,726 2,379 2,401 Restricted bank stock 49,930 49,930 6,000 6,000 Accrued interest receivable 45,141 45,141 45,288 45,288 Level 3 inputs: Portfolio loans, net 7,613,683 7,426,158 7,559,294 7,276,905 Mortgage servicing rights 1,304 5,627 3,289 18,079 Other servicing rights 1,482 1,591 1,597 2,062 Financial liabilities Level 2 inputs: Time deposits $ 1,490,635 $ 1,481,591 $ 1,819,274 $ 1,804,905 Securities sold under agreements to repurchase 155,610 155,610 187,396 187,396 Short-term borrowings — — 12,000 12,034 Long-term debt — — 18,000 18,020 Junior subordinated debt owed to unconsolidated trusts 74,815 67,314 71,993 57,153 Accrued interest payable 21,129 21,129 28,418 28,418 Level 3 inputs: Subordinated notes, net of unamortized issuance costs 227,723 219,043 222,882 200,000

EARNINGS PER COMMON SHARE

EARNINGS PER COMMON SHARE	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
EARNINGS PER COMMON SHARE	NOTE 21. 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) : Years Ended December 31, 2024 2023 2022 Net income $ 113,691 $ 122,565 $ 128,311 Weighted average number of common shares outstanding, basic 56,610,032 55,432,322 55,387,073 Dilutive effect of common stock equivalents: Options 753 — 1,632 Warrants — 324 1,753 RSU awards 662,341 647,217 665,998 PSU awards 243,166 151,190 58,206 DSU awards 19,956 18,154 15,532 ESPP 6,753 6,941 6,970 Weighted average number of common shares outstanding, diluted 57,543,001 56,256,148 56,137,164 Basic earnings per common share $ 2.01 $ 2.21 $ 2.32 Diluted earnings per common share 1.98 2.18 2.29 Average shares that were excluded from the computation of diluted earnings per common share because their effect would have been anti-dilutive are summarized in the table below for the periods presented: Years Ended December 31, 2024 2023 2022 Anti-dilutive common stock equivalents Options 9,588 21,981 7,792 RSU awards 3,216 39,445 38,912 PSU awards 140,937 106,955 189,000 Total anti-dilutive common stock equivalents 153,741 168,381 235,704

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	12 Months Ended
	Dec. 31, 2024
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent, Alternative [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	NOTE 22. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following table summarizes changes AOCI by component, net of tax (dollars in thousands) : Unrealized Gains (Losses) on Debt Securities Available For Sale Unrecognized Gains (Losses) on Debt Securities Held to Maturity Unrealized Gains (Losses) on Cash Flow Hedges Total Balance, December 31, 2021 $ (23,073) $ — $ (685) $ (23,758) Unrealized holding gains (losses), net (199,302) — (20,717) (220,019) Unrecognized losses on debt securities transferred to held to maturity from available for sale — (34,644) — (34,644) Amounts reclassified from AOCI, net (19) — 417 398 Amortization of unrecognized losses on securities transferred to held to maturity — 4,745 — 4,745 Balance, December 31, 2022 (222,394) (29,899) (20,985) (273,278) Unrealized holding gains (losses), net 41,824 — (1,835) 39,989 Unrecognized losses on debt securities transferred to held to maturity from available for sale — — — — Amounts reclassified from AOCI, net 3,934 — 6,126 10,060 Amortization of unrecognized losses on securities transferred to held to maturity — 4,426 — 4,426 Balance, December 31, 2023 (176,636) (25,473) (16,694) (218,803) Unrealized holding gains (losses), net 6,509 — (10,790) (4,281) Unrecognized losses on debt securities transferred to held to maturity from available for sale — — — — Amounts reclassified from AOCI, net 4,447 — 7,679 12,126 Amortization of unrecognized losses on securities transferred to held to maturity — 3,919 — 3,919 Balance, December 31, 2024 $ (165,680) $ (21,554) $ (19,805) $ (207,039)

OPERATING SEGMENTS AND RELATED

OPERATING SEGMENTS AND RELATED INFORMATION	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
OPERATING SEGMENTS AND RELATED INFORMATION	NOTE 23. OPERATING SEGMENTS AND RELATED INFORMATION Busey’s reportable segments are determined by its chief executive officer, Van A. Dukeman, who is the designated chief operating decision maker. Busey is organized into three reportable operating segments: Banking, Wealth Management, and FirsTech. These operating segments are strategic business units that are separately managed, as they offer different products and services and have different marketing strategies. To evaluate segment performance and make informed decisions regarding the allocation of capital and personnel to the segments, the chief operating decision maker reviews each segment’s actual revenues, consisting of net interest income plus noninterest income, and net income against budgeted revenues and net income on a monthly basis. This process enables the Company to (1) determine the cost and availability of funds within each business segment, (2) assess the profitability of a specific business segment by aligning relevant costs with revenues, and (3) evaluate each business segment in a way that reflects its economic impact on consolidated earnings. Banking 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, CRE, real estate construction, and agricultural loans, as well as commercial depository services such as cash management. Wealth Management 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. FirsTech 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 accounting policies of Busey’s operating segments are the same as those described in the summary of significant accounting policies in “ Note 1. Significant Accounting Policies . ” Busey accounts for intersegment revenue and transfers at current market prices. Goodwill and total assets are detailed below by operating segment. The “other” category included in the tables below consists of the parent company, First Busey Risk Management until its dissolution on December 18, 2023, and the elimination of intercompany transactions (dollars in thousands) : As of December 31, 2024 Banking Wealth Management FirsTech Other Total Goodwill $ 310,595 $ 14,108 $ 8,992 $ — $ 333,695 Total assets 11,856,651 126,180 57,737 6,154 12,046,722 As of December 31, 2023 Banking Wealth Management FirsTech Other Total Goodwill $ 294,773 $ 14,108 $ 8,992 $ — $ 317,873 Total assets 12,125,298 103,147 51,600 3,370 12,283,415 Financial results by operating segment, including significant expense categories provided to the chief operating decision maker, are detailed below (dollars in thousands) : Year Ended December 31, 2024 Banking Wealth Management FirsTech Other Total Interest income $ 523,648 $ — $ — $ 33 $ 523,681 Intersegment interest income 324 — 48 (372) — Interest expense 183,126 — — 17,944 201,070 Intersegment interest expense 2,664 — — (2,664) — Net interest income 338,182 — 48 (15,619) 322,611 Provision for credit losses 8,590 — — — 8,590 Net interest income after provision for credit losses 329,592 — 48 (15,619) 314,021 Noninterest income Wealth management fees — 63,630 — — 63,630 Fees for customer services 30,933 — — — 30,933 Payment technology solutions — — 21,983 — 21,983 All other noninterest income 20,871 1,323 — 942 23,136 Intersegment noninterest income 1,402 — 1,071 (2,473) — Noninterest income 53,206 64,953 23,054 (1,531) 139,682 Revenue 391,388 64,953 23,102 (17,150) 462,293 Noninterest expense Salaries, wages, and employee benefits 117,730 26,631 10,130 21,128 175,619 Data processing 20,631 2,263 3,692 538 27,124 Amortization of intangible assets 8,916 1,141 — — 10,057 Interchange expense — — 6,001 — 6,001 All other noninterest expense 66,433 2,836 2,736 9,593 81,598 Intersegment noninterest expense 11,457 3,096 1,443 (15,996) — Noninterest expense 225,167 35,967 24,002 15,263 300,399 Income (loss) before income taxes 157,631 28,986 (900) (32,413) 153,304 Income taxes 40,365 6,956 (230) (7,478) 39,613 Net income $ 117,266 $ 22,030 $ (670) $ (24,935) $ 113,691 Year Ended December 31, 2023 Banking Wealth Management FirsTech Other Total Interest income $ 480,438 $ — $ — $ 105 $ 480,543 Intersegment interest income — — 54 (54) — Interest expense 140,917 — — 19,005 159,922 Intersegment interest expense 3,006 — — (3,006) — Net interest income 336,515 — 54 (15,948) 320,621 Provision for credit losses 2,399 — — — 2,399 Net interest income after provision for credit losses 334,116 — 54 (15,948) 318,222 Noninterest income Wealth management fees — 57,309 — — 57,309 Fees for customer services 29,044 — — — 29,044 Payment technology solutions — — 21,192 — 21,192 All other noninterest income 15,337 514 — (2,182) 13,669 Intersegment noninterest income 1,149 — 1,554 (2,703) — Noninterest income 45,530 57,823 22,746 (4,885) 121,214 Revenue 382,045 57,823 22,800 (20,833) 441,835 Noninterest expense Salaries, wages, and employee benefits 111,834 24,474 8,522 17,767 162,597 Data processing 18,217 1,937 3,013 541 23,708 Amortization of intangible assets 8,963 1,469 — — 10,432 Interchange expense — — 6,864 — 6,864 All other noninterest expense 71,259 2,503 2,154 6,015 81,931 Intersegment noninterest expense 13,178 2,698 1,100 (16,976) — Noninterest expense 223,451 33,081 21,653 7,347 285,532 Income (loss) before income taxes 156,195 24,742 1,147 (28,180) 153,904 Income taxes 32,342 5,938 317 (7,258) 31,339 Net income $ 123,853 $ 18,804 $ 830 $ (20,922) $ 122,565 Year Ended December 31, 2022 Banking Wealth Management FirsTech Other Total Interest income $ 360,126 $ — $ — $ 50 $ 360,176 Intersegment interest income — — 65 (65) — Interest expense 18,694 — 17,854 36,548 Intersegment interest expense 1,159 — — (1,159) — Net interest income 340,273 — 65 (16,710) 323,628 Provision for credit losses 4,623 — — — 4,623 Net interest income after provision for credit losses 335,650 — 65 (16,710) 319,005 Noninterest income Wealth management fees — 55,378 — — 55,378 Fees for customer services 33,111 — — — 33,111 Payment technology solutions — — 20,067 — 20,067 All other noninterest income 19,890 16 (3) (1,846) 18,057 Intersegment noninterest income 962 — 1,656 (2,618) — Noninterest income 53,963 55,394 21,720 (4,464) 126,613 Revenue 394,236 55,394 21,785 (21,174) 450,241 Noninterest expense Salaries, wages, and employee benefits 107,159 22,993 7,899 20,965 159,016 Data processing 16,420 1,962 2,721 545 21,648 Amortization of intangible assets 9,831 1,797 — — 11,628 Interchange expense — — 6,298 — 6,298 All other noninterest expense 73,544 2,593 2,415 6,739 85,291 Intersegment noninterest expense 15,042 2,200 1,286 (18,528) — Noninterest expense 221,996 31,545 20,619 9,721 283,881 Income (loss) before income taxes 167,617 23,849 1,166 (30,895) 161,737 Income taxes 36,021 5,306 319 (8,220) 33,426 Net income $ 131,596 $ 18,543 $ 847 $ (22,675) $ 128,311

PARENT COMPANY ONLY FINANCIAL I

PARENT COMPANY ONLY FINANCIAL INFORMATION	12 Months Ended
	Dec. 31, 2024
Condensed Financial Information Disclosure [Abstract]
PARENT COMPANY ONLY FINANCIAL INFORMATION	NOTE 24. PARENT COMPANY ONLY FINANCIAL INFORMATION Condensed financial data for First Busey Corporation is presented below. CONDENSED BALANCE SHEETS (dollars in thousands) As of December 31, 2024 2023 Assets Cash and cash equivalents $ 73,484 $ 100,098 Debt securities — 987 Equity securities 10,295 9,364 Investments in subsidiaries: Bank 1,584,264 1,478,118 Premises and equipment, net 11 7 Other assets 29,859 20,100 Total assets $ 1,697,913 $ 1,608,674 Liabilities and stockholders' equity Liabilities: Short-term borrowings $ — $ 12,000 Long-term debt — 18,000 Subordinated notes, net of unamortized issuance costs 227,723 222,882 Junior subordinated debentures owed to unconsolidated trusts 74,815 71,993 Other liabilities 12,106 11,818 Total liabilities 314,644 336,693 Total stockholders' equity 1,383,269 1,271,981 Total liabilities and stockholders' equity $ 1,697,913 $ 1,608,674 CONDENSED STATEMENTS OF INCOME (dollars in thousands) Years Ended December 31, 2024 2023 2022 Operating income Dividends from subsidiaries: Bank $ 100,000 $ 90,000 $ 95,000 Non-bank — 900 1,630 Income from dissolution of non-bank subsidiary — 733 — Interest income 2,325 2,956 1,094 Gains (losses) recognized on equity securities, net 931 (2,171) (2,159) Other income 14,641 14,130 15,195 Total operating income 117,897 106,548 110,760 Expense Salaries, wages, and employee benefits 21,129 17,766 20,964 Interest expense 17,944 19,005 17,854 Operating expense 11,238 8,009 7,294 Total expense 50,311 44,780 46,112 Income (loss) before income tax benefit and equity in undistributed (in excess of) net income of subsidiaries 67,586 61,768 64,648 Income tax benefit 7,480 7,310 8,286 Income (loss) before equity in undistributed (in excess of) net income of subsidiaries 75,066 69,078 72,934 Equity in undistributed (in excess of) net income of subsidiaries Bank 38,625 53,487 55,986 Non-bank — — (609) Net income $ 113,691 $ 122,565 $ 128,311 CONDENSED STATEMENTS OF CASH FLOWS (dollars in thousands) Years Ended December 31, 2024 2023 2022 Cash flows provided by (used in) operating activities Net income $ 113,691 $ 122,565 $ 128,311 Adjustments to reconcile net income to net cash provided by (used in) operating activities: Depreciation and amortization 1,163 1,038 1,423 Distributions more (less) than net income of subsidiaries (38,625) (53,487) (55,377) (Gains) losses recognized on equity securities, net (931) 2,171 2,159 Stock-based compensation 7,726 6,595 8,968 (Increase) decrease in other assets (8,848) 6,253 (17,754) Increase (decrease) in other liabilities 365 (7,687) 21,233 Net cash provided by (used in) operating activities 74,541 77,448 88,963 Cash flows provided by (used in) investing activities Sales (purchases) of equity securities, net 995 — 598 Net cash paid for acquisitions (14,623) — — Purchases of premises and equipment (9) — (9) Repayments of investments in subsidiaries — 1,480 — Net cash provided by (used in) investing activities (13,637) 1,480 589 Cash flows provided by (used in) financing activities Cash paid for withholding taxes on stock-based payments (1,755) (1,093) (1,276) Cash dividends paid (54,169) (53,076) (50,863) Repayments of borrowings (31,450) (12,000) (112,000) Proceeds from issuance of debt — — 98,094 Proceeds from the exercise of stock options and warrants (3) 9 — Purchase of treasury stock — (4,482) (9,912) Common stock issuance costs (141) — — Net cash provided (used in) by financing activities (87,518) (70,642) (75,957) Net increase (decrease) in cash and cash equivalents (26,614) 8,286 13,595 Cash and cash equivalents, beginning of period 100,098 91,812 78,217 Cash and cash equivalents, ending of period $ 73,484 $ 100,098 $ 91,812

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net income	$ 113,691	$ 122,565	$ 128,311

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 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

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
	Mar. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management a

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	Busey maintains a cyber security risk management program designed to prevent, detect, and respond to information security threats. The program is designed to align with the Cyber Risk Institute’s Profile framework, which is based on the National Institute of Standards and Technology’s Cybersecurity Framework. The program is led by Busey’s Chief Information Security Officer (“CISO”). Busey’s CISO has been in the role since September 2020 and has over 15 years of experience across external and internal audit, technology risk management, and cybersecurity matters, spanning various industries primarily within the financial services sector, but also including healthcare, technology, consumer products, and manufacturing for both regional and multinational corporations. Busey’s cyber security risk management program is a key part of the Company’s overall risk management system, which is administered by the Chief Risk Officer. Busey’s cyber security risk management program includes administrative, technical, and physical safeguards to help ensure the security and confidentiality of customer records and information. Busey has long devoted significant resources to assessing, identifying, and managing risks associated with cybersecurity threats, including: • Establishing an internal cybersecurity team that is responsible for conducting regular assessments of Busey’s information systems, existing controls, vulnerabilities, and potential improvements; • Employing continuous monitoring tools that can detect and help respond to cybersecurity threats in real-time; • Performing due diligence with respect to third-party service providers, including their cybersecurity practices, and requiring contractual commitments from Busey’s service providers to take certain cybersecurity measures; • Ongoing monitoring and assessment of third-party vendors' cybersecurity practices, including regular audits, compliance checks, and incident reporting requirements; • Engaging third-party cybersecurity consultants, who conduct periodic penetration testing, vulnerability assessments, and other procedures to identify potential weaknesses in Busey’s systems and processes; • Mandating periodic cybersecurity training for Busey’s workforce, which includes awareness programs on phishing, social engineering, and other common cyber threats; • Implementing access control measures such as multi-factor authentication, role-based access controls, and regular access reviews to ensure that only authorized personnel have access to critical systems and data; • Using data encryption for both data at rest and data in transit to protect sensitive information; and • Creating an incident response plan that outlines the steps to contain, mitigate, and remediate the impact of cybersecurity incidents, including communication protocols and post-incident analysis. Busey’s security and privacy policies and procedures are in effect across all of its businesses and geographic locations. Busey adheres to various regulatory requirements and standards, including the Gramm-Leach-Bliley Act to ensure compliance with data protection laws. Additionally, Busey maintains cybersecurity insurance coverage to mitigate potential financial impacts from cyber incidents.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	Busey’s security and privacy policies and procedures are in effect across all of its businesses and geographic locations. Busey adheres to various regulatory requirements and standards, including the Gramm-Leach-Bliley Act to ensure compliance with data protection laws. Additionally, Busey maintains cybersecurity insurance coverage to mitigate potential financial impacts from cyber incidents.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	Busey’s board of directors, as a whole and through its Enterprise Risk Committee (the “Risk Committee”), is responsible for the oversight of risk management. In that role, Busey’s board of directors and Risk Committee, with support from Busey’s cybersecurity advisors, are responsible for ensuring that the risk management processes developed and implemented by management are adequate and functioning as designed. To carry out those duties, both the board of directors and the Risk Committee receive quarterly reports from Busey’s management team regarding cybersecurity risks, and Busey’s efforts to prevent, detect, mitigate, and remediate any cybersecurity incidents.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	Busey’s board of directors, as a whole and through its Enterprise Risk Committee (the “Risk Committee”), is responsible for the oversight of risk management.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	To carry out those duties, both the board of directors and the Risk Committee receive quarterly reports from Busey’s management team regarding cybersecurity risks, and Busey’s efforts to prevent, detect, mitigate, and remediate any cybersecurity incidents.
Cybersecurity Risk Role of Management [Text Block]	Busey’s board of directors, as a whole and through its Enterprise Risk Committee (the “Risk Committee”), is responsible for the oversight of risk management. In that role, Busey’s board of directors and Risk Committee, with support from Busey’s cybersecurity advisors, are responsible for ensuring that the risk management processes developed and implemented by management are adequate and functioning as designed. To carry out those duties, both the board of directors and the Risk Committee receive quarterly reports from Busey’s management team regarding cybersecurity risks, and Busey’s efforts to prevent, detect, mitigate, and remediate any cybersecurity incidents.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	The program is led by Busey’s Chief Information Security Officer (“CISO”).
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	Busey’s CISO has been in the role since September 2020 and has over 15 years of experience across external and internal audit, technology risk management, and cybersecurity matters, spanning various industries primarily within the financial services sector, but also including healthcare, technology, consumer products, and manufacturing for both regional and multinational corporations.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	Busey’s board of directors, as a whole and through its Enterprise Risk Committee (the “Risk Committee”), is responsible for the oversight of risk management. In that role, Busey’s board of directors and Risk Committee, with support from Busey’s cybersecurity advisors, are responsible for ensuring that the risk management processes developed and implemented by management are adequate and functioning as designed. To carry out those duties, both the board of directors and the Risk Committee receive quarterly reports from Busey’s management team regarding cybersecurity risks, and Busey’s efforts to prevent, detect, mitigate, and remediate any cybersecurity incidents.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Organization and Nature of Operations	Organization and Nature of Operations First Busey Corporation is a financial holding company organized under the laws of Nevada. First Busey Corporation’s subsidiaries provide retail and commercial banking services and payment technology solutions, and offer a full range of financial products and services including depository, lending, security brokerage, investment management, and fiduciary services, to individual, corporate, institutional, and governmental customers through their locations in Illinois, Missouri, southwest Florida and Indianapolis, Indiana. First Busey Corporation and its subsidiaries are subject to the regulations of certain regulatory agencies and undergo periodic examinations by those regulatory agencies. Busey’s accounting and reporting policies conform to GAAP. The Consolidated Financial Statements include the accounts of First Busey Corporation and its subsidiaries, which include Deed of Trust Services Corporation, and Busey Bank, including Busey Bank’s wholly-owned subsidiaries FirsTech, Pulaski Service Corporation, and Busey Capital Management, Inc. Further, until its dissolution on December 18, 2023, First Busey Risk Management was a subsidiary of First Busey Corporation and included in the Company’s Consolidated Financial Statements . Operating results generated from acquired businesses are included with Busey’s results of operations starting from each date of acquisition. First Busey Corporation and its subsidiaries maintain various limited liability companies that hold specific assets for risk mitigation purposes and are consolidated into Busey’s Consolidated Financial Statements . Intercompany balances and transactions have been eliminated in consolidation. Because Busey is not the primary beneficiary, the Consolidated Financial Statements exclude the following wholly-owned variable interest entities: First Busey Statutory Trust II, First Busey Statutory Trust III, First Busey Statutory Trust IV, Pulaski Financial Statutory Trust I, Pulaski Financial Statutory Trust II, and Merchants and Manufacturers Bank Statutory Trust I.
Use of Estimates	Use of Estimates In preparing the accompanying Consolidated Financial Statements in conformity with GAAP, Busey’s management is required to make estimates and assumptions that affect the amounts reported on the Consolidated Financial Statements and the disclosures provided. Actual results could differ from those estimates. Material estimates which are particularly susceptible to significant change in the near-term relate to the fair value of assets acquired and liabilities assumed in business combinations, goodwill, income taxes, and the determination of the ACL.
Trust Assets	Trust Assets Assets held for customers in a fiduciary or agency capacity, other than trust cash on deposit at Busey Bank, are not Busey’s assets and, accordingly, are not included in the accompanying Consolidated Financial Statements . Busey had assets under care of $13.83 billion at December 31, 2024, and $12.14 billion at December 31, 2023.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include cash on hand, cash items in process of collection, amounts due from other banks, interest-bearing deposits held with other financial institutions, and federal funds sold. The carrying amount of these instruments is considered a reasonable estimate of fair value. Busey maintains its cash in deposit accounts, the balance of which, at times, may exceed federally insured limits. Busey has not experienced any losses in such accounts. Management believes Busey is not exposed to any significant credit risk on cash and cash equivalents.
Business Combinations	Business Combinations Business combinations are accounted for under ASC Topic 805 “Business Combinations” using the acquisition method of accounting. The acquisition method of accounting requires that the assets acquired and the liabilities assumed are recognized, measured at their estimated fair values, as of the date Busey obtains control of the acquiree (the acquisition date). To estimate fair values of assets acquired and liabilities assumed, Busey may utilize third-party valuations, such as appraisals, or internal valuations based on discounted cash flow analyses or other valuation techniques. Further, management assumptions require consideration of future growth rates, future attrition, discount rates, multiples of earnings or other relevant factors. Operating results generated from acquired businesses are included with Busey’s results of operations starting from each acquisition date. Acquisition related costs are costs that Busey incurs to effect a business combination, and may include legal, accounting, valuation, other professional or consulting fees, system conversions, and marketing costs. Busey accounts for acquisition related costs by recording them as expenses in the periods in which the costs are incurred and the services are received. Costs that Busey expects, but is not obligated to incur in the future, to effect its plan to exit an activity of an acquiree or to terminate the employment of an acquiree’s employees are not liabilities at the acquisition date. Instead, Busey recognizes these costs in its post-combination Consolidated Financial Statements in accordance with other applicable accounting guidance.
Securities	Securities Debt Securities Available for Sale Debt securities classified as available for sale are those debt securities that Busey intends to hold for an indefinite period of time, but not necessarily to maturity. Any decision to sell a security classified as available for sale would be based on factors including significant movements in interest rates, changes in the maturity mix of Busey's assets and liabilities, liquidity needs, regulatory capital considerations, and other similar factors. Debt securities available for sale are carried at fair value, with unrealized gains and losses reported in OCI, net of taxes. Purchase premiums and discounts are recognized in interest income using the interest method over the terms of the securities. The amortization period for certain callable debt securities held at a premium are amortized to the earliest call date, while discounts on debt securities are amortized to maturity. Gains and losses on the sale of debt securities available for sale are recorded on the trade date and are determined using the specific identification method. Debt securities available for sale are not within the scope of the current expected credit losses methodology, however, the accounting for credit losses on these securities is affected by ASC Subtopic 326-30 “Financial Instruments-Credit Losses—Available-for-Sale Debt Securities.” A debt security available for sale is impaired if the fair value of the security declines below its amortized cost basis. To determine the appropriate accounting, Busey must first determine if it intends to sell the security or if it is more likely than not that it will be required to sell the security before the fair value increases to at least the amortized cost basis. If either of those selling events is expected, Busey will write down the amortized cost basis of the security to its fair value. This is achieved by writing off any previously recorded allowance, if applicable, and recognizing any incremental impairment through earnings. If Busey neither intends to sell the security nor believes it is more likely than not that the Company will be required to sell the security before the fair value recovers to the amortized cost basis, Busey must determine whether any of the decline in fair value has resulted from a credit loss, or if it is entirely the result of noncredit factors. Busey considers the following factors in assessing whether the decline is due to a credit loss: • Extent to which the fair value is less than the amortized cost basis; • Adverse conditions specifically related to the security, an industry, or a geographic area (for example, changes in the financial condition of the issuer of the security, or in the case of an asset-backed debt security, in the financial condition of the underlying loan obligors); • Payment structure of the debt security and the likelihood of the issuer being able to make payments that increase in the future; • Failure of the issuer of the security to make scheduled interest or principal payments; and • Any changes to the rating of the security by a rating agency. Impairment related to a credit loss must be measured using the discounted cash flow method. Credit loss recognition is limited to the fair value of the security. Impairment is recognized by establishing an allowance for the debt security through the provision for credit losses. Impairment related to noncredit factors is recognized in AOCI, net of applicable taxes. Busey did not recognize any credit impairment on debt securities available for sale in 2024, 2023, or 2022. Debt Securities Held to Maturity Debt securities classified as held to maturity are those debt securities that Busey has the intent and ability to hold to maturity and are carried at amortized cost. In 2022, Busey elected to transfer a portion of the agency mortgage-backed securities portfolio from available for sale to held to maturity. While held to maturity securities are within the scope of CECL, the standard allows for an assumption of zero credit losses when the expectation of non-payment is zero. The risk of credit loss related to mortgage-backed securities issued and/or guaranteed by U.S. government agencies or U.S. government-sponsored enterprises is considered zero, therefore requiring no allowance to be recorded. Accrued interest receivable for both debt securities available for sale and debt securities held to maturity totaled $10.5 million at December 31, 2024, and is excluded from the estimate of credit losses. Accrued interest receivable is reported in other assets on the Consolidated Balance Sheets . Equity Securities Equity securities are carried at fair value with changes in fair value recognized in earnings.
Loans Held for Sale	Loans Held for Sale Loans held for sale include mortgage loans which Busey intends to sell to investors and/or the secondary mortgage market. Busey accounts for loans held for sale at LOCOM. Loans held for sale are carried at amortized historical cost less loan write-offs and downward fair value adjustments, as may be applicable. Net unrealized losses, if any, are recognized through a valuation allowance by charges to income. Gains and losses on sales of loans are recognized at settlement dates and are determined by the difference between the sales proceeds and the carrying amount, net of the value of any servicing assets for loans that were sold with servicing rights retained.
Loan Servicing	Loan Servicing Servicing assets are recognized when servicing rights are acquired or retained through the sale of mortgage and government-guaranteed commercial loans. The unpaid principal balances of loans serviced by Busey for the benefit of others totaled $582.5 million as of December 31, 2024, and $1.49 billion as of December 31, 2023, and are not included in the accompanying Consolidated Balance Sheets . During the first quarter of 2024, Busey sold the mortgage servicing rights on approximately $923.5 million of one- to four-family mortgage loans for an estimated pre-tax gain of $7.5 million, which enabled Busey to sell available-for-sale debt securities with a book value of approximately $108.2 million for a pre-tax loss of $6.8 million. Servicing rights are initially recorded at estimated fair value, which is determined using a valuation model that calculates the present value of estimated future net servicing income. Capitalized servicing rights are reported in other assets and are amortized into noninterest income in proportion to, and over the period of, the estimated future net servicing income of the underlying financial assets. The amortization of mortgage servicing rights is included in mortgage revenue. The amortization of government-guaranteed commercial loan servicing rights is included in other income. Servicing rights are periodically evaluated for impairment based on the fair value of those rights as compared to the carrying amount. Fair values are estimated using discounted cash flows based on expected prepayment rates and other inputs. For purposes of measuring impairment, servicing rights are stratified by one or more predominant characteristics of the underlying loans. A valuation allowance is recognized in the amount by which the amortized cost of the rights for each stratum exceeds its fair value, if any. If Busey later determines that all or a portion of the impairment no longer exists for a particular group of loans, a reversal of the allowance may be recorded in current period earnings. Busey had an immaterial amount of impairment recorded at December 31, 2024 and 2023. Servicing fee income is recorded for fees earned for servicing loans. The fees are based on a contractual percentage of the outstanding principal and are recorded as income when earned.
Portfolio Loans	Portfolio Loans Loans that management has the intent and ability to hold for the foreseeable future, or until maturity or pay-off, are reported at the principal balance outstanding, net of purchase premiums and discounts, deferred origination fees and costs, charge-offs, and the ACL. Loan origination fees, net of certain direct loan origination costs, are deferred and the net amount is amortized as an adjustment of the related loan’s yield. Busey amortizes the net amount over the contractual life of the related loan. Interest income is accrued daily on outstanding loan balances. Loans are placed on non-accrual status when, in management’s opinion, the borrower may be unable to meet payment obligations as they become due, as well as when required by regulatory provisions. Loans may be placed on non-accrual status regardless of whether or not such loans are considered past due. Past due status is based on the contractual terms of the loan. Interest accrued but not collected for loans that are charged-off or placed on non-accrual status is reversed against interest income. The interest on non-accrual loans is accounted for on the cost-recovery method, until returned to accrual status. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured.
Loan Modifications	Loan Modifications Busey’s loan portfolio includes certain loans that have been modified in accordance with loan refinancing and restructuring guidance in ASC Subtopic 310-20-35-9 through 35-11 “Receivables—Nonrefundable Fees and Other Costs—Subsequent Measurement—Loan Refinancing or Restructuring” for borrowers experiencing financial difficulty. For additional information about loan modifications for borrowers experiencing financial difficulty, see “ Note 4. P ortfolio Loans .”
Allowance for Credit Losses and Assets Purchased with Credit Deterioration	Allowance for Credit Losses The ACL is a significant estimate on Busey’s Consolidated Financial Statements , affecting both earnings and capital. The ACL is a valuation account that is deducted from the portfolio loans’ amortized cost bases to present the net amount expected to be collected on the portfolio loans. Portfolio loans are charged off against the ACL when management believes the loan balance is uncollectible. Recoveries will be recognized up to the aggregate amount of previously charged-off balances. The ACL is established through the provision for credit loss charged to income. A loan’s amortized cost basis is comprised of the unpaid principal balance of the loan net of charge-offs, accrued interest receivable, purchase premiums or discounts, and net deferred origination fees or costs. Busey has estimated its allowance on the amortized cost basis, exclusive of government guaranteed loans and accrued interest receivable. Further, as permitted under the practical expedient provided within ASC 326-20-35-6, Busey did not record an ACL for its Life Equity Loan ® portfolio due to no expected credit loss at default. Busey writes-off uncollectible accrued interest receivable in a timely manner and has elected to not measure an allowance for accrued interest receivable. Busey presents the aggregate amount of accrued interest receivable for all financial instruments in other assets on the Consolidated Balance Sheets and the balance of accrued interest receivable is disclosed in “ Note 20. Fair Value Measurements. ” Busey’s methodology influences, and is influenced by, Busey’s overall credit risk management processes. The ACL is managed in accordance with GAAP to provide an adequate reserve for expected credit losses that is reflective of management’s best estimate of what is expected to be collected. The ACL must be determined on a collective (pool) basis when similar risk characteristics exist. On a case-by-case basis, Busey may conclude that a loan should be evaluated on an individual basis based on disparate risk characteristics. The measurement of expected credit losses is based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the amortized cost basis. Adjustments to historical loss information are made for differences in current loan-specific risk characteristics such as differences in underwriting standards, portfolio mix, delinquency level, or term as well as for changes in environmental conditions such as changes in unemployment rates, property values, and other relevant factors. The calculation also contemplates that Busey may not be able to make or obtain such forecasts for the entire life of the financial assets and requires a reversion to historical credit loss information. Due to the continued economic uncertainty in the markets in which the Company operates, Busey will continue to utilize a forecast period of 12 months with an immediate reversion to historical loss rates beyond this forecast period in its ACL estimate. Ongoing impacts of CECL will be dependent upon changes in economic conditions and forecasts, originated and acquired loan portfolio composition, prepayment speeds, credit performance trends, portfolio duration, and other factors. Assets Purchased with Credit Deterioration Acquired loans are separated into two categories based on the credit risk characteristics of the underlying borrowers: (1) PCD, for loans which have experienced more than insignificant credit deterioration since origination, or (2) all other loans. For PCD loans, an ACL is determined at the date of acquisition using the same methodology as other loans held for investment. This initial ACL, when determined on a collective basis, is allocated to the individual loans, and the sum of each loan’s purchase price and ACL becomes its initial amortized cost basis. The difference between the initial amortized cost basis and the par value of the loan is a noncredit discount or premium, which is amortized into interest income over the life of the loan. The ACL on PCD loans is recorded in the acquisition accounting and no provision for credit losses is recognized at the acquisition date. Subsequent changes to the ACL are recorded as a charge to the provision for credit losses. For all other loans, an ACL is established immediately after the acquisition through a charge to the provision for credit losses. Upon adoption of ASC Topic 326 “Financial Instruments-Credit Losses” Busey applied the prospective transition approach for financial assets considered PCD that were previously classified as PCI and accounted for under ASC Subtopic 310-30 “Receivables—Loans and Debt Securities Acquired with Deteriorated Credit Quality.” In accordance with the standard, management did not reassess whether PCI assets met the criteria of PCD assets as of the date of adoption. The amortized cost basis of these PCD assets was adjusted to reflect an ACL for any remaining credit discount. The noncredit discount is being accreted into interest income using the January 1, 2020, effective interest rate. Subsequent changes in expected cash flows will be adjusted through the ACL.
Other Real Estate Owned and Other Repossessed Assets	Other Real Estate Owned and Other Repossessed Assets OREO and other repossessed assets represent properties and other assets acquired through foreclosure or other proceedings in settlement of loans. OREO and other repossessed assets are recorded at the fair value of the property or asset, less estimated costs of disposal, which establishes a new cost basis. Any adjustment to fair value at the time of transfer to OREO or other repossessed assets is charged to the ACL. OREO property and other repossessed assets are evaluated regularly to ensure the recorded amount is supported by its current fair value; write downs or valuation allowances to reduce the carrying amount to fair value less estimated costs to dispose are recorded, as necessary. OREO and other repossessed assets are included in other assets on the Consolidated Balance Sheets . Revenue, expense, gains, and losses from the operations of foreclosed assets are included in earnings.
Long-Lived Assets	Long-Lived Assets Long-lived assets, including premises and equipment, right of use assets, and intangible assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. An impairment loss is recognized when estimated undiscounted future cash flows from operations of the asset are less than the carrying value of the asset. Cash flows used for this analysis are those directly associated with, and that are expected to arise as a direct result of, the use and eventual disposition of the asset. Any impairment loss is measured as the amount by which the carrying value of the asset exceeds its fair value.
Premises and Equipment	Premises and Equipment Land is carried at cost less accumulated depreciation of depreciable land improvements. Premises and equipment are stated at cost less accumulated depreciation. Depreciation is computed by the straight-line method over the estimated useful lives of the assets. The estimated useful lives for premises and equipment are: Asset Description Estimated Useful Life Buildings and improvements 3 — 40 years Furniture and equipment 3 — 10 years Premises and equipment are reviewed for impairment in accordance with Busey’s policies regarding long-lived assets. Bank property held for sale, included in premises and equipment, represents certain banking center office buildings which Busey had 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, and depreciation has been stopped.
Leases	Leases A determination is made at inception if an arrangement contains a lease. For arrangements containing leases, Busey recognizes leases on the Consolidated Balance Sheets as right of use assets and corresponding lease liabilities. Lease-related assets, or right of use assets, are recognized on the lease commencement date at amounts equal to the respective lease liabilities, adjusted for prepaid lease payments, initial direct costs, and lease incentives received. Lease-related liabilities are recognized at the present value of the remaining contractual fixed lease payments, discounted using the rate implicit in the lease or Busey’s incremental borrowing rate. ASC Topic 842 “Leases” requires the use of the rate implicit in the lease whenever this rate is readily determinable. If not readily determinable, Busey uses its incremental borrowing rate at lease inception, on a collateralized basis, over a similar term. For operating leases existing prior to Busey’s adoption of ASC Topic 842 on January 1, 2019, Busey used a borrowing rate that corresponded to the lease term remaining as of the date of adoption of ASC Topic 842. Busey’s lease agreements often include one or more options to renew at Busey’s discretion. When Busey considers the exercise of a renewal option to be reasonably certain, that renewal term is included in the calculation of the right of use asset and lease liability. Operating lease expense is recognized on a straight-line basis over the lease term, including any renewal terms available through options to renew that Busey is reasonably certain to exercise. Variable lease payments are expensed as incurred. Right of use assets are reviewed for impairment in accordance with Busey’s policies regarding long-lived assets.
Goodwill and Other Intangibles	Goodwill and Other Intangibles Goodwill represents the excess of consideration transferred in a business combination over the fair value of the net assets acquired. Goodwill is not amortized but is subject to at least annual impairment assessments. A separate goodwill impairment assessment is performed for each reporting unit on the goodwill that has been allocated to it. A reporting unit is a component of an operating segment that constitutes a business for which discrete financial information is available, and segment management regularly reviews the operating results of that component. Busey’s reporting units are the same as its operating segments. Busey has established December 31 as the annual impairment assessment date for each of its reporting units. As part of this assessment, each reporting unit's carrying value is compared to its fair value. Busey estimates the fair value of its reporting units as of the measurement date utilizing valuation methodologies including comparable company analysis and precedent transaction analysis. Goodwill is considered impaired if the carrying value of the reporting unit exceeds its fair value. There was no impairment as of December 31, 2024 or 2023. Other intangible assets consist of core deposit and acquired customer relationship intangible assets arising from acquisitions. Other intangible assets are amortized over their estimated useful lives, and are reviewed for impairment in accordance with Busey’s policies regarding long-lived assets. See “ Note 8. Goodwill and Other Intangible Assets ” for additional information.
Cash Surrender Value of Bank-Owned Life Insurance	Cash Surrender Value of Bank Owned Life Insurance Busey has purchased, or acquired through acquisitions, life insurance policies on certain executives and senior officers. Life insurance is recorded at its cash surrender value, which approximates its fair value. Busey maintains a liability for post-employment benefits related to split-dollar life insurance arrangements. In an endorsement split-dollar life insurance arrangement, the employer owns and controls the policy, and the employer and employee split the life insurance policy’s cash surrender value and/or death benefits. If the employer agrees to maintain a life insurance policy during the employee’s retirement, the present value of the cost of maintaining the insurance policy is accrued over the employee’s active service period. Similarly, if the employer agrees to provide the employee with a death benefit, the present value of the death benefit is accrued over the employee’s active service period. Busey accrued liabilities for these arrangements totaling $5.7 million as of December 31, 2024, and $5.6 million as of December 31, 2023. Liabilities for post-employment benefits are included in other liabilities on the Consolidated Balance Sheets .
Restricted Bank Stock	Restricted Bank Stock During the fourth quarter of 2024 Busey Bank became a member of the Federal Reserve System. Federal Reserve member banks are required to own a certain amount of Federal Reserve Bank stock. Busey's investment in Federal Reserve Bank stock was $43.9 million as of December 31, 2024. Busey’s investment in Federal Reserve Bank stock represents approximately half of the total required subscription, and the remaining half is unpaid and remains subject to call by the Federal Reserve Bank. As such, Busey reserved cash of $43.9 million as of December 31, 2024. Busey Bank is a member of the FHLB system. FHLB members are required to own a certain amount of FHLB stock based on the level of borrowings and other factors, and may invest in additional amounts. Busey's investment in FHLB stock was $6.0 million as of both December 31, 2024 and 2023. Federal Reserve Bank stock and FHLB stock are carried at cost in restricted bank stock on the Consolidated Balance Sheets . Cash reserves are included in interest-bearing deposits as part of Busey’s total cash and cash equivalents balances reported on the Consolidated Balance Sheets . Dividends are reported as interest income on the Consolidated Statements of Income . Dividend income is accrued on Federal Reserve Bank stock and is recognized when declared on FHLB stock.
Transfers of Financial Assets	Transfers of Financial Assets Transfers of financial assets are accounted for as sales only when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when: (1) the assets have been isolated from Busey’s assets, (2) the transferee obtains the right to pledge or exchange the assets it receives, and no condition both constrains the transferee from taking advantage of its right to pledge or exchange and provides more than a trivial benefit to the transferor, and (3) Busey does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity or the ability to unilaterally cause the holder to return specific assets. When transfers of financial assets fail to meet these criteria, those transfers are accounted for as secured borrowings.
Income Taxes and Tax Credit and Other Investments in Unconsolidated Entities	Income Taxes Busey is subject to income taxes in U.S. federal and various state jurisdictions. First Busey Corporation and its subsidiaries file consolidated federal and state income tax returns with each subsidiary computing its taxes on a separate entity basis. Tax regulations within each jurisdiction are subject to the interpretation of the related tax laws and regulations, which requires significant judgment. Busey is no longer subject to U.S. federal, state, or local income tax examinations by tax authorities for the years before 2021. Under GAAP, a valuation allowance is required to be recognized if it is more likely than not that the deferred tax assets will not be realized. The determination of the recoverability of the deferred tax assets is highly subjective and dependent upon judgment concerning management’s evaluation of both positive and negative evidence, the forecasts of future income, applicable tax planning strategies, and assessments of current and future economic and business conditions. In 2024, Busey recorded a one-time deferred tax valuation adjustment of $1.4 million resulting from a change to the Illinois apportionment rate due to recently enacted regulations. These new regulations are expected to lower Busey’s ongoing tax obligation in future periods, but created a negative adjustment to the carrying value of Busey’s deferred tax asset in 2024. Management believes that it is more likely than not that the deferred tax assets included in the accompanying Consolidated Financial Statements will be fully realized. Busey determined that no valuation allowance was required as of December 31, 2024, or 2023. Positions taken in tax returns may be subject to challenge upon examination by the taxing authorities. Uncertain tax positions are initially recognized on the Consolidated Financial Statements when it is more likely than not the position will not be sustained upon examination by the tax authorities. Such tax positions are both initially and subsequently measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon settlement with the tax authority, assuming full knowledge of the position and all relevant facts. When applicable, Busey recognizes interest accrued related to unrecognized tax benefits and penalties in operating expenses. At December 31, 2024, Busey Bank was under examination by the Florida Department of Revenue for its 2020 to 2022 corporate income tax filings. Busey Bank accrued $0.1 million related to potential assessment adjustments and interest. Other than this, Busey had no accruals for payments of interest and penalties related to uncertain tax positions at December 31, 2024, or 2023. Further, in February of 2025, Busey received notice of audit initiation from the Illinois Department of Revenue for M&M’s tax filings for the tax years 2022 and 2023. 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, cost, or proportional amortization practical expedient methods, as appropriate. These investments involve significant management judgments, including a determination of which entities have the power to direct activities, and whether these entities are variable interest entities. Busey is required to evaluate whether to consolidate a variable interest entity at both inception and on an ongoing basis. Busey is not required to consolidate variable interest entities in which it has concluded it does not have a controlling financial interest and is not the primary beneficiary. Busey’s maximum exposure to loss related to its investments in these unconsolidated variable interest entities is limited to the carrying amount of the investment, net of any unfunded capital commitments and previously recorded tax credits which remain subject to recapture by taxing authorities based on compliance features required to be met at the project level. Busey believes potential losses from these investments are remote. In addition, Busey has private equity investments, which are primarily in funds that invest in small businesses across diverse sectors including, but not limited to, financial technology, business services, manufacturing, agribusiness, healthcare, software as a service, and environmental, or supporting the preservation of affordable housing. 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. Income tax credits and other tax benefits, net of investment amortization, were included as a component of Busey’s estimated annual effective tax rate used for the calculation of income taxes presented on the Consolidated Statements of Income . For additional information regarding these investments, see “ Note 14. Tax Credit and Other Investments in Unconsolidated Entities .”
Treasury Stock	Treasury Stock Treasury stock acquired is recorded at cost. Treasury stock issued is valued based on the “first-in, first-out” method. Gains and losses on issuance are recorded as increases or decreases to additional paid-in capital.
Stock-Based Employee Compensation	Stock-Based Employee Compensation Busey’s equity incentive plans are designed to encourage ownership of its common stock by its employees and directors, to provide additional incentive for them to promote the success of Busey’s business, and to attract and retain talented personnel. 2020 Equity Plan The 2020 Equity Plan was originally approved by stockholders at the 2020 Annual Meeting of Stockholders. A description of the 2020 Equity Plan, as originally approved, can be found in Appendix A within Busey’s Proxy Statement for the 2020 Annual Meeting of Stockholders filed on April 9, 2020 . Upon the 2020 Equity Plan’s original approval, it replaced the 2010 Equity Incentive Plan and the First Community 2016 Equity Incentive Plan, which, from time to time, Busey used to grant equity awards to legacy employees of First Community. Under the terms of the 2020 Equity Plan, Busey has granted RSU, DSU, and PSU awards. An amendment to and restatement of the 2020 Equity Plan was approved by stockholders at the 2023 Annual Meeting of Stockholders. The terms of the amended and restated 2020 Equity Plan are substantially identical to those of the originally approved 2020 Equity Plan, other than a 1,350,000 increase in the number of shares authorized for issuance under the plan. More information can be found in Appendix A within Busey’s Proxy Statement for the 2023 Annual Meeting of Stockholders filed on April 14, 2023 . All of Busey’s employees and directors and those of its subsidiaries are eligible to receive awards under the plans. RSU Awards Busey grants RSU awards to members of management periodically throughout the year. RSU awards are stock-based awards for which vesting is conditional upon meeting established service criteria. Each RSU is equivalent to one share of Busey’s common stock. Busey’s RSUs have requisite service periods ranging from one year to five years, and are subject to accelerated vesting upon eligible retirement from Busey. Recipients earn quarterly dividend equivalents on their respective RSUs, which entitle the recipients to additional units. Therefore, dividends earned each quarter compound based upon the updated unit balances. PSU Awards Busey grants PSU awards to members of management periodically throughout the year. PSU awards are stock-based awards for which vesting is conditional upon meeting established performance criteria for the applicable performance period and remaining employed through the end of such performance period. 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 the established performance criteria 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 each dividend date during the performance period. DSU Awards Busey grants DSU awards to its non-employee directors. DSU awards are stock-based awards with a deferred settlement date. Each DSU is equivalent to one share of Busey’s common stock. DSUs vest over a one-year period following the grant date. Under the 2020 Equity Plan, DSUs are generally subject to the same terms as RSUs, except that following vesting of DSUs, settlement occurs within 30 days following the earlier of separation from the board or a change in control of the Company. After vesting and prior to delivery, DSUs will continue to earn dividend equivalents. Stock Options Busey has outstanding stock options assumed from acquisitions. All stock options that remained outstanding as of December 31, 2024, were fully vested. 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 First 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 Busey associates may acquire a proprietary interest in the Company by purchasing shares of its common stock at a discounted price through voluntary payroll deductions, to assist in retaining the services of current associates and securing and retaining the services of new associates, and to provide incentives for Busey associates to exert maximum efforts toward the Company’s success. Because the ESPP provides opportunity for Busey associates to purchase Busey’s common stock at a 15% discount from the market price, the plan is considered to be a compensatory plan under current accounting guidance. Therefore, the entire amount of the discount is recognized in salaries, wages, and employee benefits on the Consolidated Statements of Income . See “ Note 16. Stock-based Compensation ” for further discussion.
Off-Balance Sheet Arrangements	Off-Balance Sheet Arrangements In the normal course of business, to meet the financing needs of its customers, Busey is a party to credit-related financial instruments with off-balance-sheet risk, including commitments to extend credit and standby letters of credit. These instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized on the Consolidated Balance Sheets . Busey’s exposure to credit loss is represented by the contractual amount of the commitments. Busey uses the same credit policies in making commitments and conditional obligations as it does for on-balance-sheet instruments. Commitments to extend credit are agreements to lend to a customer as long as no condition established in the contract has been violated. These commitments are generally at variable interest rates, they generally have fixed expiration dates or other termination clauses, and they may require the customer to pay a fee. Commitments for equity lines of credit may expire without being drawn upon; therefore, the total commitment amounts do not necessarily represent future cash requirements. These commitments may be secured based on management’s credit evaluation of the borrower. Standby letters of credit are conditional commitments Busey has issued to guarantee the performance of a customer’s obligation to a third-party. Those guarantees are primarily issued to support public and private borrowing arrangements, including bond financing and similar transactions. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. Busey holds collateral, which may include accounts receivable, inventory, property and equipment, and income producing properties, supporting those commitments if deemed necessary. In the event the customer does not perform in accordance with the terms of the agreement with the third-party, Busey would be required to fund the commitment. If the commitment is funded, Busey would be entitled to seek recovery from the customer. Busey estimates expected credit losses for off-balance sheet arrangements over the contractual period during which it is exposed to credit risk via a present contractual obligation to extend credit, unless that obligation is unconditionally cancellable by the issuer. To be considered unconditionally cancellable for accounting purposes, Busey must have the ability to, at any time, with or without cause, refuse to extend credit under the commitment. Off-balance-sheet credit exposure segments share the same risk characteristics as portfolio loans. Busey incorporates a probability of funding and utilizes the ACL loss rates to calculate a reserve for off-balance-sheet credit exposure, which is carried on the Consolidated Balance Sheets in other liabilities rather than as a component of the ACL. The reserve for off-balance-sheet credit exposure is adjusted as a provision for off-balance-sheet credit exposure and is reported as a component of noninterest expense in the accompanying Consolidated Statements of Income . Liabilities recorded as reserves for Busey’s off-balance sheet credit exposure under these commitments totaled $6.0 million as of December 31, 2024, and $7.1 million as of December 31, 2023.
Derivative Financial Instruments	Derivative Financial Instruments Busey utilizes interest rate swap agreements as part of its asset liability management strategy to help manage its interest rate risk position. Additionally, Busey enters into derivative financial instruments, including interest rate lock commitments issued to residential loan customers for loans that will be held for sale, forward sales commitments to sell residential mortgage loans to investors, and interest rate swaps with customers and other third parties. Interest Rate Swaps Designated as Cash Flow Hedges Busey entered into derivative instruments designated as cash flow hedges. For a derivative instrument that qualifies and is designated as a cash flow hedge, the change in fair value of the derivative instrument is reported as a component of other comprehensive income (loss) and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Changes in fair value of components excluded from the assessment of effectiveness are recognized in current earnings. Interest Rate Swaps Not Designated as Hedges Busey may offer derivative contracts to its customers in connection with their risk management needs. Busey manages the risk associated with these contracts by entering into equal and offsetting derivatives with third-party dealers. Generally, these derivatives have worked together as an economic interest rate hedge, but Busey did not designate them for hedge accounting treatment. Consequently, changes in fair value of the corresponding derivative financial asset or liability were recorded as either a charge or credit to current earnings during the period in which the changes occurred. Interest Rate Lock Commitments Interest rate lock commitments that meet the definition of derivative financial instruments under ASC Topic 815 “Derivatives and Hedging” are carried at their fair values in other assets or other liabilities on the Consolidated Financial Statements , with changes in the fair values of the corresponding derivative financial assets or liabilities recorded as either a charge or credit to mortgage revenue 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 Financial Statements . While such forward sales commitments generally served as an economic hedge to mortgage loans held for sale and interest rate lock commitments, Busey did not designate them for hedge accounting treatment. Changes in fair value of the corresponding derivative financial asset or liability were recorded as either a charge or credit to mortgage revenue during the period in which the changes occurred. Risk Participation Agreements Busey has entered into risk participation agreements to manage the credit risk of its derivative position. These agreements transfer credit risk related to an interest rate swap to another financial institution. Risk participation agreements that Busey has entered into are structured as follows: • Busey has a swap agreement with a customer. Busey (purchaser) entered into a risk participation agreement with a counterparty (seller), under which the counterparty receives a fee to accept a portion of the credit risk. If Busey’s customer defaults on the swap contract, the counterparty to the risk participation agreement must reimburse Busey for the counterparty's percentage of the positive fair value (from the purchaser’s perspective) of the customer swap as of the default date. If the customer swap has a negative fair value (from the purchaser’s perspective), the counterparty has no reimbursement requirements. If Busey’s customer defaults on the swap contract and the counterparty (seller) fulfills its payment obligations under the risk participation agreement, the counterparty (seller) is entitled to a pro rata share of Busey’s claim against the customer under the terms of the swap agreement. • A counterparty has a swap agreement with a customer. Busey (seller) entered into a risk participation with a counterparty (purchaser), under which Busey receives a fee to accept a portion of the credit risk. If the counterparty’s customer defaults on the swap contract, Busey must reimburse the counterparty (purchaser) for Busey's percentage of the positive fair value (from the purchaser’s perspective) of the customer swap as of the default date. If the customer swap has a negative fair value (from the purchaser’s perspective), Busey has no reimbursement requirements. If the counterparty’s customer defaults on the swap contract and Busey (seller) fulfills its payment obligations under the risk participation agreement, Busey (seller) is entitled to a pro rata share of the counterparty’s claim against the customer under the terms of the swap agreement.
Fair Value of Financial Instruments	Fair Value of Financial Instruments Fair values of financial instruments are estimated using relevant market information and other assumptions, as more fully disclosed in “ Note 20. Fair Value Measurements .” Fair value estimates involve uncertainties and matters of significant judgment regarding interest rates, credit risk, prepayments, and other factors, especially in the absence of broad markets for particular items. Changes in assumptions or in market conditions could significantly affect these estimates.
Comprehensive Income (Loss)	Comprehensive Income (Loss) Accounting principles generally require that recognized revenue, expenses, gains, and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available for sale debt securities and unrealized gains and losses on cash flow hedges, are reported net of taxes as a separate component within the equity section of the balance sheet, such items, along with net income, are components of comprehensive income (loss).
Segment Disclosure	Segment Disclosure Operating segments are components of a business that (1) engage in business activities from which the component may earn revenues and incur expenses; (2) have operating results that are reviewed regularly by the entity’s chief operating decision maker to make decisions about resources to be allocated to the segments and assess their performance; and (3) for which discrete financial information is available. Busey’s chief executive officer is its chief operating decision maker. Busey’s has three reportable segments: Banking, Wealth Management, and FirsTech. See “ Note 23. Operating Segments and Related Information ” for further discussion.
Revenue	Revenue ASC Topic 606 “Revenue from Contracts with Customers” outlines a single model for companies to use in accounting for revenue arising from contracts with customers and supersedes most prior revenue recognition guidance, including industry-specific guidance. ASC Topic 606 requires that companies recognize revenue based on the value of transferred goods or services as they occur in the contract and establishes additional disclosures. Busey’s revenue is comprised of net interest income, which is explicitly excluded from the scope of ASC Topic 606, and noninterest income. Busey has evaluated its noninterest income and the nature of its contracts with customers and determined that further disaggregation of revenue beyond what is presented in the accompanying Consolidated Financial Statements is not necessary. Busey satisfies its performance obligations on its contracts with customers as services are rendered, so there is limited judgment involved in applying ASC Topic 606 that affects the determination of the timing and amount of revenue from contracts with customers. Descriptions of Busey’s primary revenue generating activities that are within the scope of ASC Topic 606, and are presented in the accompanying Consolidated Statements of Income as components of noninterest income, include wealth management fees, payment technology solutions, and fees for customer services. Wealth Management Fees Wealth management fees represent fees due from wealth management customers as consideration for managing the customers' assets. Wealth management and trust services include custody of assets, investment management, fees for trust services, and other fiduciary activities. Also included are fees received from a third-party broker-dealer as part of a revenue sharing agreement for fees earned from customers that Busey refers to the third party. Revenue is recognized when the performance obligation is completed, which is generally monthly. Payment Technology Solutions Payment technology solutions revenue represents transaction-based fees for technology-driven payment solutions primarily for walk-in, lockbox, interactive voice recognition, and online bill payments through Busey Bank’s subsidiary, FirsTech. Revenue is recognized when the performance obligation is completed, which is generally monthly. Fees for Customer Services Fees for customer services consist of time-based revenue from service fees for account maintenance, item-based revenue from fee-based activity, and transaction-based fee revenue. Revenue is recognized when the performance obligation is completed, which is generally monthly for account maintenance services, or when a transaction has been completed. Payments for such performance obligations are generally received at the time the performance obligations are satisfied.
Reclassifications	Reclassifications Reclassifications have been made to certain prior year account balances, with no effect on net income or stockholders’ equity, to be consistent with the classifications adopted as of and for the year ended December 31, 2024.
Impact of Recently Adopted Accounting Standards and Recently Issued Accounting Standards Not Yet Adopted	Impact of Recently Adopted Accounting Standards 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 was adopted on a retrospective basis beginning with the annual reporting period ending December 31, 2024. Adoption of this standard did not have a material impact on Busey’s financial position or results of operations, but resulted in enhanced disclosures. 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 November 2024, the FASB issued ASU 2024-04 “ Debt—Debt with Conversion and Other Options (Subtopic 470-20): Induced Conversions of Convertible Debt Instruments ” to clarify when certain settlements of convertible debt instruments should be accounted for as an induced conversion. The amendments in this update may be applied on either a prospective or retrospective basis and will be effective for Busey for annual and interim reporting periods beginning January 1, 2026. Because Busey does not currently have any convertible debt, the Company does not expect adoption of this ASU to have any impact on its financial position or results of operations. 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 reporting periods beginning January 1, 2025. Early adoption is permitted. Busey does not currently have any Profit Interest and Similar Awards, so does not expect adoption of this ASU to have any impact 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 ASU to have a material impact on its 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. If the SEC has not removed the related disclosures from Regulation S‑X or Regulation S‑K by June 30, 2027, the pending content of this update will be removed from the ASC and will not become effective for any entity. Busey does not expect adoption of this ASU 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 Consolidated Financial Statements included in this Annual Report on Form 10‑K were issued. Busey issued a For m 8 ‑ K o n February 21, 2025 , regarding the departure of a named executive officer, and during the first quarter of 2025 expects to record related severance expenses according to Schedule 1 of the Separation Letter that was fi led as Exhibit 10.1 to the Form 8‑K. Other than this, there were no significant subsequent events for the year ended December 31, 2024, through the filing date of these Consolidated Financial Statements .

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Schedule of Estimated Useful Lives for Premises and Equipment	The estimated useful lives for premises and equipment are: Asset Description Estimated Useful Life Buildings and improvements 3 — 40 years Furniture and equipment 3 — 10 years Premises and equipment are reviewed for impairment in accordance with Busey’s policies regarding long-lived assets. Bank property held for sale, included in premises and equipment, represents certain banking center office buildings which Busey had 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, and depreciation has been stopped.

MERGERS AND ACQUISITIONS (Table

MERGERS AND ACQUISITIONS (Tables)	12 Months Ended
	Dec. 31, 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 Premises and equipment 2,045 Right of use assets 253 Other intangible assets 6,346 Other assets 10,283 Total assets acquired 477,820 Liabilities assumed Deposits 392,838 Short-term borrowings 35,932 Long-term debt 1,450 Subordinated notes, net of unamortized issuance costs 3,911 Junior subordinated debt owed to unconsolidated trusts 2,594 Lease liabilities 253 Other liabilities 7,089 Total liabilities assumed 444,067 Net assets acquired $ 33,753 Consideration paid Cash $ 15,200 Common stock 34,375 Total consideration paid $ 49,575 Goodwill $ 15,822
Schedule of Business Acquisitions, by Acquisition	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
Schedule of Pro Forma Information	Only the merger related expenses that have been recognized are included in net income in the table below (dollars in thousands) : Years Ended December 31, 2024 2023 Revenue (net interest income plus noninterest income) $ 468,401 $ 466,973 Net income 115,530 130,483 Diluted earnings per common share 2.00 2.26

DEBT SECURITIES (Tables)

DEBT SECURITIES (Tables)	12 Months Ended
	Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]
Schedule of Amortized Cost, Unrealized Gains and Losses, and Fair Values of Securities Classified as AFS and HTM	The tables below provides the amortized cost, unrealized and unrecognized gains and losses, and fair values of debt securities, summarized by major category (dollars in thousands) : As of December 31, 2024 Amortized Unrealized Fair Gross Gains Gross Losses Debt securities available for sale Obligations of U.S. government corporations and agencies $ 1,408 $ — $ (8) $ 1,400 Obligations of states and political subdivisions 1 156,534 31 (16,736) 139,829 Asset-backed securities 1 336,379 181 (3) 336,557 Commercial mortgage-backed securities 107,305 — (15,131) 92,174 Residential mortgage-backed securities 1,279,090 19 (191,899) 1,087,210 Corporate debt securities 159,236 363 (6,548) 153,051 Total debt securities available for sale $ 2,039,952 $ 594 $ (230,325) $ 1,810,221 Amortized Unrecognized Fair Gross Gains Gross Losses Debt securities held to maturity Commercial mortgage-backed securities $ 415,530 $ — $ (77,242) $ 338,288 Residential mortgage-backed securities 411,100 — (74,335) 336,765 Total debt securities held to maturity $ 826,630 $ — $ (151,577) $ 675,053 ___________________________________________ 1. 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 December 31, 2024 Amortized Fair Debt securities available for sale Due in one year or less $ 91,497 $ 90,406 Due after one year through five years 110,271 104,914 Due after five years through ten years 518,414 495,024 Due after ten years 1,319,770 1,119,877 Debt securities available for sale $ 2,039,952 $ 1,810,221 Debt securities held to maturity Due in one year or less $ 18,628 $ 18,327 Due after one year through five years 62,119 58,733 Due after five years through ten years 14,689 12,609 Due after ten years 731,194 585,384 Debt securities held to maturity $ 826,630 $ 675,053
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) : Years Ended December 31, 2024 2023 2022 Realized gains and losses on debt securities Gross gains on debt securities $ 1 $ 20 $ 115 Gross (losses) on debt securities (7,034) (5,523) (89) Realized net gains (losses) on debt securities 1 $ (7,033) $ (5,503) $ 26 ___________________________________________ 1. Net gains (losses) on sales of securities reported on the Consolidated Statements of Income include the sale of equity securities, excluded in this table.
Schedule of 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 December 31, 2024 Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized Debt securities available for sale Obligations of U.S. government corporations and agencies $ — $ — $ 1,328 $ (8) $ 1,328 $ (8) Obligations of states and political subdivisions 11,234 (209) 119,723 (16,527) 130,957 (16,736) Asset-backed securities 14,997 (3) — — 14,997 (3) Commercial mortgage-backed securities 6,238 (42) 85,936 (15,089) 92,174 (15,131) Residential mortgage-backed securities 152,081 (640) 930,642 (191,259) 1,082,723 (191,899) Corporate debt securities 598 (1) 143,966 (6,547) 144,564 (6,548) Debt securities available for sale with gross unrealized losses $ 185,148 $ (895) $ 1,281,595 $ (229,430) $ 1,466,743 $ (230,325) 12 months or more Total Fair Unrecognized Fair Unrecognized Debt securities held to maturity Commercial mortgage-backed securities $ 338,288 $ (77,242) $ 338,288 $ (77,242) Residential mortgage-backed securities 336,765 (74,335) 336,765 (74,335) Debt securities held to maturity with gross unrecognized losses $ 675,053 $ (151,577) $ 675,053 $ (151,577) 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 December 31, 2024 Available for Sale Held to Maturity Total Debt securities with gross unrealized or unrecognized losses, fair value $ 1,466,743 $ 675,053 $ 2,141,796 Gross unrealized or unrecognized losses on debt securities 230,325 151,577 381,902 Ratio of gross unrealized or unrecognized losses to debt securities with gross unrealized or unrecognized losses 15.7 % 22.5 % 17.8 % Count of debt securities 677 55 732 Count of debt securities in an unrealized or unrecognized loss position 586 55 641 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)	12 Months Ended
	Dec. 31, 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 lending activity is presented in the following table (dollars in thousands) : As of December 31, 2024 2023 Commercial loans C&I and other commercial $ 1,904,515 $ 1,835,994 CRE 3,269,564 3,337,337 Real estate construction 378,209 461,717 Total commercial loans 5,552,288 5,635,048 Retail loans Retail real estate 1,696,457 1,720,455 Retail other 448,342 295,531 Total retail loans 2,144,799 2,015,986 Total portfolio loans 7,697,087 7,651,034 ACL (83,404) (91,740) Portfolio loans, net $ 7,613,683 $ 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 December 31, 2024 2023 Pledged loans FHLB $ 4,813,600 $ 4,865,481 Federal Reserve Bank 765,824 722,914 Total pledged loans $ 5,579,424 $ 5,588,395 To secure its obligations under derivative contracts, Busey pledged cash and held collateral as follows (dollars in thousands) : As of December 31, 2024 2023 Cash pledged to secure obligations under derivative contracts $ 21,900 $ 34,210 Collateral held to secure obligations under derivative contracts 20,260 19,280
Schedule of Risk Grades Segregated by Category and Class of Portfolio Loans	The following table is a summary of risk grades segregated by category of portfolio loans (dollars in thousands) : As of December 31, 2024 Pass Watch Special Substandard Substandard Total Commercial loans C&I and other commercial $ 1,545,338 $ 281,424 $ 36,152 $ 37,749 $ 3,852 $ 1,904,515 CRE 2,744,018 438,945 55,041 16,507 15,053 3,269,564 Real estate construction 345,908 26,833 221 5,224 23 378,209 Total commercial loans 4,635,264 747,202 91,414 59,480 18,928 5,552,288 Retail loans Retail real estate 1,680,640 9,408 882 2,543 2,984 1,696,457 Retail other 448,166 — — — 176 448,342 Total retail loans 2,128,806 9,408 882 2,543 3,160 2,144,799 Total portfolio loans $ 6,764,070 $ 756,610 $ 92,296 $ 62,023 $ 22,088 $ 7,697,087 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 CRE 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 net charge-offs are presented in the tables below by loan class, further sorted by origination year (dollars in thousands) : As of and For The Year Ended December 31, 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 $ 320,831 $ 147,909 $ 163,870 $ 125,053 $ 74,146 $ 117,234 $ 596,295 $ 1,545,338 Watch 38,734 49,394 44,709 16,393 2,175 20,964 109,055 281,424 Special Mention 1,718 2,293 5,658 2,634 106 2,540 21,203 36,152 Substandard 15,186 6,545 788 591 320 2,424 11,895 37,749 Substandard non-accrual 65 141 464 — 42 852 2,288 3,852 Total C&I and other commercial 376,534 206,282 215,489 144,671 76,789 144,014 740,736 1,904,515 Gross charge-offs $ — $ 14,980 $ 148 $ 22 $ — $ 303 $ — $ 15,453 CRE Pass 291,503 354,591 755,266 645,994 356,867 314,340 25,457 2,744,018 Watch 115,078 132,900 60,611 62,408 28,320 38,733 895 438,945 Special Mention 39,252 643 8,020 1,395 4,165 1,517 49 55,041 Substandard 6,983 355 4,628 50 95 4,346 50 16,507 Substandard non-accrual 15,000 39 — — 14 — — 15,053 Total CRE 467,816 488,528 828,525 709,847 389,461 358,936 26,451 3,269,564 Gross charge-offs — — — 2,999 — 315 — 3,314 Real estate construction Pass 159,825 134,450 12,205 24,781 2,213 1,124 11,310 345,908 Watch 20,170 6,455 — 208 — — — 26,833 Special Mention — — — 221 — — — 221 Substandard 5,224 — — — — — — 5,224 Substandard non-accrual — — — 23 — — — 23 Total real estate construction 185,219 140,905 12,205 25,233 2,213 1,124 11,310 378,209 Retail real estate Pass 101,582 237,306 366,820 354,380 147,236 267,431 205,885 1,680,640 Watch 1,255 550 2,733 3,377 872 124 497 9,408 Special Mention 151 — 344 — — 372 15 882 Substandard — 243 1,018 503 — 776 3 2,543 Substandard non-accrual — — 344 91 152 1,526 871 2,984 Total retail real estate 102,988 238,099 371,259 358,351 148,260 270,229 207,271 1,696,457 Gross charge-offs — — — — — 168 — 168 Retail other Pass 4,996 55,665 57,944 12,207 2,304 589 314,461 448,166 Substandard non-accrual — 94 67 4 — 11 — 176 Total retail other 4,996 55,759 58,011 12,211 2,304 600 314,461 448,342 Gross charge-offs 9 31 106 78 4 403 — 631 Total portfolio loans $ 1,137,553 $ 1,129,573 $ 1,485,489 $ 1,250,313 $ 619,027 $ 774,903 $ 1,300,229 $ 7,697,087 Total gross charge-offs $ 9 $ 15,011 $ 254 $ 3,099 $ 4 $ 1,189 $ — $ 19,566 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 C&I and other 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 CRE 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 CRE 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 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 and Non-Accrual Status	An analysis of the amortized cost basis of portfolio loans that are past due and still accruing, or on non-accrual status, is as follows (dollars in thousands) : As of December 31, 2024 Loans past due, still accruing Non-accrual 30-59 Days 60-89 Days 90+Days Commercial loans C&I and other commercial $ 95 $ — $ — $ 3,852 CRE 42 2,759 — 15,053 Real estate construction 41 — — 23 Past due and non-accrual commercial loans 178 2,759 — 18,928 Retail loans Retail real estate 3,280 683 1,115 2,984 Retail other 1,094 130 34 176 Past due and non-accrual retail loans 4,374 813 1,149 3,160 Total past due and non-accrual loans $ 4,552 $ 3,572 $ 1,149 $ 22,088 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 CRE 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) : Year Ended December 31, 2024 Payment Deferral % of Total Class of Financing Receivable 1 Term Extension % of Total Class of Financing Receivable Modified Loans C&I and other commercial $ 325 — % $ 26,175 1.4 % CRE — — % 18,147 0.6 % Real estate construction — — % 5,224 1.4 % Total of loans modified during the period 2 $ 325 — % $ 49,546 0.6 % ___________________________________________ 1. Modified loans represent an insignificant portion of C&I and other commercial loans, rounding to zero percent. 2. Modifications include one loan on non-accrual status, and the remaining loans were classified as substandard. Year Ended December 31, 2023 Interest Rate Reduction 1 % of Total Class of Financing Receivable 2 Term Extension 3 % of Total Class of Financing Receivable 2 Modified Loans C&I and other commercial $ — — % $ 16,586 0.9 % CRE 872 — % 923 — % Real estate construction — — % 5,327 1.2 % Total of loans modified during the period 4 $ 872 — % $ 22,836 0.3 % ___________________________________________ 1. For one loan, the default rate was removed once forbearance was entered. 2. Modified loans represent an insignificant portion of CRE loans, rounding to zero percent. 3. Modifications to extend loan terms also included, in some cases, interest rate increases during the extension period. 4. Modifications include one loan on non-accrual status, and the remaining loans were classified as substandard. The following table summarizes the effects of loan modifications made during the periods indicated for borrowers experiencing financial difficulty: Years Ended December 31, 2024 2023 Weighted Average Term Extension Weighted Average Interest Rate Reduction Weighted Average Term Extension Loan Modifications C&I and other commercial 15.6 months — % 18.1 months CRE 3.8 months 2.50 % 21.0 months Real estate construction 6.0 months — % 12.0 months Weighted average modifications 10.3 months 2.50 % 16.8 months Performance of Modified Loans Busey closely monitors the performance of the loans that are modified for 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 December 31, 2024 Current 30-89 Days 90+ Days Non-accrual Modified Loans C&I and other commercial $ 26,500 $ — $ — $ — CRE 3,147 — — 15,000 Real estate construction 5,224 — — — Amortized cost of modified loans $ 34,871 $ — $ — $ 15,000 The following table provides the amortized cost basis of loans that had a payment default during the periods indicated, after having been modified during the 12 months before default for borrowers experiencing financial difficulty (dollars in thousands) . A default occurs when a loan is 90 days or more past due or transferred to non-accrual status. Years Ended December 31, 2024 2023 Term Extension Term Extension Loans with Subsequent Defaults C&I and other commercial $ — $ 88 CRE 15,000 — Amortized cost of modified loans with subsequent defaults $ 15,000 $ 88
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 December 31, 2024 Unpaid Recorded Investment Average With No With Total Related Loans evaluated individually Commercial loans: C&I and other commercial $ 7,127 $ 1,224 $ 2,456 $ 3,680 $ 1,840 $ 5,014 CRE 17,999 15,000 — 15,000 — 3,882 Commercial loans evaluated individually 25,126 16,224 2,456 18,680 1,840 8,896 Retail loans: Retail real estate 1,152 1,128 — 1,128 — 276 Retail loans evaluated individually 1,152 1,128 — 1,128 — 276 Total loans evaluated individually $ 26,278 $ 17,352 $ 2,456 $ 19,808 $ 1,840 $ 9,172 As of December 31, 2023 Unpaid Recorded Investment Average With No With Total Related Loans evaluated individually Commercial loans: C&I and other commercial $ 7,283 $ 585 $ 1,785 $ 2,370 $ 785 $ 5,244 CRE 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 The following tables present the ACL and amortized cost of portfolio loans by loan category and lending activity (dollars in thousands) : As of December 31, 2024 Portfolio Loans ACL Attributed to Portfolio Loans Collectively Individually Total Collectively Individually Total Portfolio loans and related ACL Commercial loans: C&I and other commercial $ 1,900,835 $ 3,680 $ 1,904,515 $ 19,749 $ 1,840 $ 21,589 CRE 3,254,564 15,000 3,269,564 32,301 — 32,301 Real estate construction 378,209 — 378,209 3,345 — 3,345 Commercial loans and related ACL 5,533,608 18,680 5,552,288 55,395 1,840 57,235 Retail loans: Retail real estate 1,695,329 1,128 1,696,457 23,711 — 23,711 Retail other 448,342 — 448,342 2,458 — 2,458 Retail loans and related ACL 2,143,671 1,128 2,144,799 26,169 — 26,169 Portfolio loans and related ACL $ 7,677,279 $ 19,808 $ 7,697,087 $ 81,564 $ 1,840 $ 83,404 As of December 31, 2023 Portfolio Loans ACL Attributed to Portfolio Loans Collectively Individually Total Collectively Individually Total Portfolio loans and related ACL Commercial loans: C&I and other commercial $ 1,833,624 $ 2,370 $ 1,835,994 $ 20,471 $ 785 $ 21,256 CRE 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
Schedule of Activity on the Allowance for Loan Losses	The following table summarizes 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 in other lending activities (dollars in thousands) : C&I and Other Commercial CRE Real Estate Retail Retail Other Total ACL Balance, December 31, 2021 $ 23,855 $ 38,249 $ 5,102 $ 17,589 $ 3,092 $ 87,887 Provision for credit losses 497 892 1,142 219 1,873 4,623 Charged-off (1,069) (1,375) (23) (251) (461) (3,179) Recoveries 577 533 236 636 295 2,277 ACL balance, December 31, 2022 23,860 38,299 6,457 18,193 4,799 91,608 Provision for credit losses (727) (2,455) (1,465) 7,922 (876) 2,399 Charged-off (2,429) (953) — (407) (629) (4,418) Recoveries 552 574 171 590 264 2,151 ACL balance, December 31, 2023 21,256 35,465 5,163 26,298 3,558 91,740 Day 1 PCD 1 824 322 — 96 1 1,243 Provision for credit losses 14,455 (318) (1,885) (3,031) (631) 8,590 Charged-off (15,453) (3,314) — (168) (631) (19,566) Recoveries 507 146 67 516 161 1,397 ACL balance, December 31, 2024 $ 21,589 $ 32,301 $ 3,345 $ 23,711 $ 2,458 $ 83,404 __________________________________________ 1. The Day 1 PCD is attributable to the M&M acquisition, finalized April 1, 2024.

OTHER REAL ESTATE OWNED AND O_2

OTHER REAL ESTATE OWNED AND OTHER REPOSSESSED ASSETS (Tables)	12 Months Ended
	Dec. 31, 2024
Other Real Estate, Foreclosed Assets, and Repossessed Assets [Abstract]
Schedule of OREO and Other Repossessed Assets Balances	The following table summarizes the composition of Busey’s OREO and other repossessed asset balances as of the periods presented (dollars in thousands) : As of December 31, 2024 2023 OREO Residential $ 63 $ 125 OREO and other repossessed assets $ 63 $ 125
Schedule of Activity Related to OREO and Other Repossessed Assets	The following table summarizes changes in the OREO and other repossessed assets balance (dollars in thousands) : Years Ended December 31, 2024 2023 2022 OREO and other repossessed assets at January 1 $ 125 $ 850 $ 4,416 Additions, transfers from loans 26 189 175 Sales (84) (770) (2,565) Cash payments collected (4) (44) (565) Impairment of OREO and other repossessed assets — (100) (611) OREO and other repossessed assets at December 31 $ 63 $ 125 $ 850
Schedule of Activity Related to Foreclosed Assets	OREO and other repossessed assets. The table below summarizes the effect of these activities, included in other expense on Busey’s Consolidated Statements of Income (dollars in thousands) : Years Ended December 31, 2024 2023 2022 Activity for OREO and other repossessed assets Net gain (loss) on sales $ 585 $ (54) $ (665) Operating income (expense), net (17) (67) (248) Activity for OREO and other repossessed assets $ 568 $ (121) $ (913)

PREMISES AND EQUIPMENT (Tables)

PREMISES AND EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Schedule of Premises and Equipment and Depreciation Expenses	Premises and equipment are summarized as follows (dollars in thousands) : As of December 31, 2024 2023 Premises and equipment Land and improvements $ 42,565 $ 43,076 Buildings and improvements 130,185 128,322 Furniture and equipment 53,945 51,077 Premises and equipment, gross 226,695 222,475 Accumulated depreciation 107,875 99,881 Premises and equipment, net $ 118,820 $ 122,594 Depreciation expense is presented in the table below for the periods indicated (dollars in thousands) : Years Ended December 31, 2024 2023 2022 Depreciation expense $ 9,503 $ 9,488 $ 10,482

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Schedule of Lease-Related Balances	The following table summarizes lease related balances Busey reported in its Consolidated Balance Sheets for the periods presented (dollars in thousands) : As of December 31, 2024 2023 Lease balances Right of use assets $ 10,608 $ 11,027 Lease liabilities 11,040 11,308 Lease terms Year through which lease terms extend 2039 2037 Weighted average remaining lease term 7.55 years 8.39 years Weighted average discount rate 3.77 % 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 on the Consolidated Statements of Income (dollars in thousands) : Years Ended December 31, 2024 2023 2022 Lease costs Operating lease costs $ 2,352 $ 2,395 $ 2,495 Variable lease costs 58 38 365 Short-term lease costs 83 50 22 Total lease cost $ 2,493 $ 2,483 $ 2,882 Cash paid for amounts included in the measurement of lease liabilities was as follows (dollars in thousands) : Years Ended December 31, 2024 2023 2022 Cash flows related to leases Operating lease cash flows – Fixed payments $ 2,194 $ 2,290 $ 3,080 Operating lease cash flows – Liability reduction 1,798 1,883 2,285 Right of use assets obtained during the period in exchange for operating lease liabilities 1 1,579 231 6,206 ___________________________________________ 1. The year ended December 31, 2024, included $0.1 million right of use assets recognized in connection with the acquisition of M&M (see “ Note 2. Mergers and Acquisitions ” ), and an additional $0.7 million recognized in connection with a lease amendment that was executed subsequent to the acquisition of M&M 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, were as follows (dollars in thousands) : As of Rent commitments 2025 $ 2,082 2026 1,774 2027 1,558 2028 1,495 2029 1,505 Thereafter 4,376 Total undiscounted cash flows 12,790 Less: Amounts representing interest 1,750 Present value of net future minimum lease payments $ 11,040
Schedule of Revenue Recorded in Connection with Leases	Revenues recorded in connection with these leases, reported in other income on Busey’s Consolidated Statements of Income , are summarized as follows (dollars in thousands) : Years Ended December 31, 2024 2023 2022 Rental income $ 820 $ 724 $ 707
Schedule of Future Minimum Lease Payments to be Received	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 2025 $ 782 2026 603 2027 403 2028 290 2029 109 Thereafter 27 Total lease payments from operating leases $ 2,214

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Carrying Amount of Goodwill by Operating Segment	The carrying amount of goodwill by operating segment is as follows (dollars in thousands) : As of December 31, 2024 2023 Goodwill Banking $ 310,595 $ 294,773 Wealth Management 14,108 14,108 FirsTech 8,992 8,992 Total goodwill $ 333,695 $ 317,873
Schedule of Other Intangible Asset Disclosures	Core deposit and customer relationship intangible assets are amortized over the estimated period during which Busey expects to benefit from the assets. Intangible asset disclosures are as follows (dollars in thousands) : As of December 31, 2024 Core deposit Customer Total Intangible Assets Intangible assets, gross $ 105,411 $ 33,138 $ 138,549 Accumulated amortization 78,831 27,438 106,269 Intangible assets, net $ 26,580 $ 5,700 $ 32,280 As of December 31, 2023 Core deposit Customer Total Intangible Assets Intangible assets, gross $ 99,065 $ 33,138 $ 132,203 Accumulated amortization 71,092 25,120 96,212 Intangible assets, net $ 27,973 $ 8,018 $ 35,991
Schedule of Amortization Expense Relating to Intangible Assets	Amortization expense related to intangible assets, as reflected on Busey's Consolidated Statements of Income , is presented in the table below (dollars in thousands) : Years Ended December 31, 2024 2023 2022 Amortization Expense Core deposit intangible $ 7,739 $ 7,616 $ 8,315 Customer relationship intangible 2,318 2,816 3,313 Amortization of intangible assets $ 10,057 $ 10,432 $ 11,628
Schedule of Carrying Amount of Amortized Intangible Assets	Future expense for the amortization of intangible assets, as estimated, is summarized in the table below (dollars in thousands) : As of December 31, 2024 Core deposit Customer Total Estimated amortization expense 2025 $ 6,895 $ 1,887 $ 8,782 2026 6,035 1,479 7,514 2027 5,200 1,091 6,291 2028 4,365 703 5,068 2029 1,719 360 2,079 Thereafter 2,366 180 2,546 Total estimated amortization expense $ 26,580 $ 5,700 $ 32,280

DEPOSITS (Tables)

DEPOSITS (Tables)	12 Months Ended
	Dec. 31, 2024
Deposits [Abstract]
Schedule of Composition of Deposits	The composition of Busey’s deposits is as follows (dollars in thousands) : As of December 31, 2024 2023 Deposits Noninterest-bearing demand deposits $ 2,719,907 $ 2,834,655 Interest-bearing transaction deposits 2,423,237 2,717,139 Saving deposits and money market deposits 3,348,711 2,920,088 Time deposits 1,490,635 1,819,274 Total deposits $ 9,982,490 $ 10,291,156 Additional information about Busey’s deposits follows (dollars in thousands) : As of December 31, 2024 2023 Brokered savings deposits and money market deposits $ 6,002 $ 6,001 Brokered time deposits 7,088 285 Total time deposits with a minimum denomination of $100,000 860,193 1,072,189 Total time deposits with a minimum denomination that meets or exceeds the FDIC insurance limit of $250,000 334,503 386,286
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 2025 $ 1,427,748 2026 33,459 2027 14,964 2028 8,178 2029 5,838 Thereafter 448 Time deposits $ 1,490,635

BORROWINGS (Tables)

BORROWINGS (Tables)	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Schedule of Distribution of Securities Sold Under Agreements to Repurchase and Short-term Borrowings and Weighted Average Interest Rates	Securities sold under agreements to repurchase were as follows (dollars in thousands) : As of December 31, 2024 2023 Securities sold under agreements to repurchase $ 155,610 $ 187,396 Weighted average rate for securities sold under agreements to repurchase 2.63 % 3.26 %
Schedule of Short-Term Debt	Short-term borrowings are summarized as follows (dollars in thousands) : As of December 31, 2024 2023 Term Loan, current portion due within 12 months $ — $ 12,000
Schedule of Long-Term Debt	Long-term debt is summarized as follows (dollars in thousands) : As of December 31, 2024 2023 Term Loan $ — $ 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 December 31, 2024 2023 Unamortized debt issuance costs Subordinated notes issued in 2020 $ 222 $ 735 Subordinated notes issued in 2022 1,004 1,383 Total unamortized debt issuance costs $ 1,226 $ 2,118

REGULATORY CAPITAL (Tables)

REGULATORY CAPITAL (Tables)	12 Months Ended
	Dec. 31, 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 Busey and its subsidiary bank (dollars in thousands) : As of December 31, 2024 Actual Minimum Minimum Amount Ratio Amount Ratio Amount Ratio Common equity Tier 1 capital to risk weighted assets First Busey $ 1,237,301 14.10 % $ 394,840 4.50 % $ 570,325 6.50 % Busey Bank $ 1,438,296 16.46 % $ 393,277 4.50 % $ 568,067 6.50 % Tier 1 capital to risk weighted assets First Busey $ 1,314,301 14.98 % $ 526,453 6.00 % $ 701,938 8.00 % Busey Bank $ 1,438,296 16.46 % $ 524,369 6.00 % $ 699,159 8.00 % Total capital to risk weighted assets First Busey $ 1,625,943 18.53 % $ 701,938 8.00 % $ 877,422 10.00 % Busey Bank $ 1,520,938 17.40 % $ 699,159 8.00 % $ 873,949 10.00 % Leverage ratio of Tier 1 capital to average assets First Busey $ 1,314,301 11.06 % $ 475,348 4.00 % N/A N/A Busey Bank $ 1,438,296 12.14 % $ 473,878 4.00 % $ 592,347 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 %

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Schedule of the Components of Income Taxes	Components of Busey’s income tax expense consist of the following (dollars in thousands) : Years Ended December 31, 2024 2023 2022 Income tax expense Current expense: Federal $ 26,696 $ 20,139 $ 20,815 State 11,533 14,120 13,883 Deferred expense: Federal 1,561 (1,557) (700) State (177) (1,363) (572) Total income tax expense $ 39,613 $ 31,339 $ 33,426
Schedule of the Reconciliation of Federal and State Income Taxes at Statutory rates to the Income Taxes Included in the Statements of Income	A reconciliation of federal and state income taxes at statutory rates to Busey’s income taxes included in the accompanying Consolidated Statements of Income is as follows: Years Ended December 31, 2024 2023 2022 Percent of pretax income Income tax at federal statutory rate 21.0 % 21.0 % 21.0 % Effect of: Tax-exempt interest, net (0.7) % (1.0) % (1.1) % Stock incentive — % 0.2 % 0.1 % State income taxes, net 5.8 % 6.5 % 6.5 % Income on bank owned life insurance (0.7) % (0.6) % (0.5) % Tax credit investments (3.1) % (6.0) % (5.6) % Other, net 3.5 % 0.3 % 0.3 % Effective income tax rate 25.8 % 20.4 % 20.7 %
Schedule of the Deferred Tax Assets and Liabilities	Net deferred taxes, reported in other assets or other liabilities on Busey’s Consolidated Balance Sheets , include the following amounts of deferred tax assets and liabilities (dollars in thousands) : As of December 31, 2024 2023 Deferred taxes Deferred tax assets: ACL $ 23,685 $ 27,068 Unrealized loss on cash flow hedge 7,256 6,654 Unrealized losses on securities available for sale, net 61,479 70,423 Unrealized losses on securities held to maturity 8,068 10,156 Stock-based compensation 6,431 5,767 Purchase accounting adjustments 2,076 764 Accrued vacation 493 456 Lease liabilities 2,951 3,092 Employee costs 5,725 4,789 Unrealized loss on equity securities — 75 Other — 67 Total deferred tax assets 118,164 129,311 Deferred tax liabilities: Basis in premises and equipment (2,419) (2,830) Affordable housing partnerships and other investments (8,011) (8,341) Purchase accounting adjustments (1,022) (1,133) Mortgage servicing assets (745) (1,336) Basis in core deposit, customer intangible assets, and asset purchase goodwill (3,325) (4,709) Deferred loan origination costs (3,317) (3,691) Right of use assets (2,835) (3,015) Unrealized gain on equity securities (172) — Other (856) (251) Total deferred tax liabilities (22,702) (25,306) Net deferred tax asset $ 95,462 $ 104,005

TAX CREDIT AND OTHER INVESTME_2

TAX CREDIT AND OTHER INVESTMENTS IN UNCONSOLIDATED ENTITIES (Tables)	12 Months Ended
	Dec. 31, 2024
Investments, All Other Investments [Abstract]
Schedule of Investments	Busey’s investments in unconsolidated entities and related unfunded investment obligations are reflected in other assets and other liabilities on the Consolidated Balance Sheets , and are summarized in the table below for the periods indicated (dollars in thousands) : As of December 31, Location 2024 2023 Investments in unconsolidated entities Funded investments Other assets $ 70,796 $ 68,516 Unfunded investments Other assets 61,210 58,552 Investments in unconsolidated entities $ 132,006 $ 127,068 Unfunded investment obligations Other liabilities $ 61,210 $ 58,552 Income tax credits and other benefits, along with investment amortization, are presented in the table below (dollars in thousands) . Beginning in 2024, income tax credits and other tax benefits, net of investment amortization, were included as a component of Busey’s estimated annual effective tax rate used for the calculation of income taxes presented on the Consolidated Statements of Income . Year Ended December 31, 2024 Income tax credits and other tax benefits $ 20,734 Amortization of investments in tax-advantaged projects 18,494

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	12 Months Ended
	Dec. 31, 2024
Employee Benefit Plans
Schedule of Expenses Related to the Employee Benefit Plans	Expenses related to Busey’s employee benefit plans, reported in salaries, wages, and employee benefits in the accompanying Consolidated Statements of Income , are summarized in the table below (dollars in thousands) : Years Ended December 31, 2024 2023 2022 401(k) Plan expenses Safe harbor match expenses $ 4,486 $ 3,745 $ 4,094 Profit-sharing expenses 3,370 3,031 2,960 Total 401(k) Plan expenses $ 7,856 $ 6,776 $ 7,054

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Changes in, the Company's Stock Option Awards	Busey has outstanding stock options that were issued under the First Community 2016 Equity Incentive Plan and assumed from acquisitions. A summary of the status of, and changes in, Busey's stock option awards follows (dollars in thousands, except weighted-average exercise price) : Options Shares Weighted- Weighted- Intrinsic Outstanding at December 31, 2023 21,266 $ 23.53 2.88 years $ 27 Exercised (2,640) 23.53 Forfeited (3,520) 23.53 Outstanding at December 31, 2024 15,106 23.53 1.87 years 1 Exercisable at December 31, 2024 15,106 23.53 1.87 years 1
Schedule of Changes in the Company's RSU, PSU, and DSU Awards	A summary of changes in Busey’s RSU awards for the year ended December 31, 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 42,986 24.74 Vested (187,446) 25.38 Forfeited (32,255) 22.48 Nonvested at December 31, 2024 1,066,772 $ 21.80 A summary of changes in Busey’s PSU awards for the year ended December 31, 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 4,264 22.95 Vested 2 (147,397) 26.07 Forfeited (15,733) 22.47 Nonvested at December 31, 2024 372,042 $ 21.15 Vested and outstanding at December 31, 2024 2 143,133 $ 26.17 ___________________________________________ 1. Shares for PSU awards represent target shares at grant date. 2. PSUs granted in 2022 vested on December 31, 2024. Shares represent target amounts. Performance determinations were calculated and approved by Busey’s Compensation Committee on January 31, 2025, and settlement activity will take place in the first quarter of 2025. A summary of changes in Busey’s DSU awards for the year ended December 31, 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 8,213 24.79 Vested (49,168) 21.04 Forfeited (1,025) 20.44 Nonvested at December 31, 2024 36,893 $ 23.40 Vested and outstanding at December 31, 2024 184,941 $ 22.85
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) : Years Ended December 31, Location 2024 2023 2022 Stock-based compensation expense RSU awards Salaries, wages, and employee benefits $ 3,823 $ 2,622 $ 4,648 PSU awards 1 Salaries, wages, and employee benefits 2,867 2,962 3,240 DSU awards Other expense 826 833 876 ESPP Salaries, wages, and employee benefits 210 178 204 Total stock-based compensation expense $ 7,726 $ 6,595 $ 8,968 ___________________________________________ 1. Expense for PSU awards with a relative total stockholder return performance goal represents amounts based on target shares at the grant date. Expense for PSU awards with return on average tangible common equity and compounded annual revenue growth rate performance goals represents amounts based on target shares at the grant date, adjusted for performance expectations as of the date indicated.
Schedule of Unamortized Stock-based Compensation Expense	Unamortized stock-based compensation expense is presented in the table below (dollars in thousands) : As of December 31, 2024 2023 Unamortized stock-based compensation RSU awards $ 7,093 $ 6,842 PSU awards 1 3,043 3,607 DSU awards 181 190 Total unamortized stock-based compensation $ 10,317 $ 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 relative total stockholder return performance goal represents amounts based on target shares at grant date. Unamortized expense for PSU awards with return on average tangible common equity and compounded annual revenue growth rate performance goals represents amounts based on target shares at grant date, adjusted for performance expectations as of the date indicated.

TRANSACTIONS WITH RELATED PAR_2

TRANSACTIONS WITH RELATED PARTIES (Tables)	12 Months Ended
	Dec. 31, 2024
Related Party Transactions [Abstract]
Schedule of the Analysis of the Changes in Loans to Related Parties	The following table presents changes in loans to related parties, as a group (dollars in thousands) : As of and for the Year Ended Balance of loans to related parties, December 31, 2023 $ 77,649 Change in relationship 1,435 New loans/advances 178,924 Repayments (159,997) Balance of loans to related parties, December 31, 2024 $ 98,011 Unused commitments to directors and executive officers $ 26,383

OUTSTANDING COMMITMENTS AND C_2

OUTSTANDING COMMITMENTS AND CONTINGENT LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 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 December 31, 2024 2023 Financial instruments whose contract amounts represent credit risk Commitments to extend credit $ 2,512,714 $ 2,132,500 Standby letters of credit 35,464 43,996 Total commitments $ 2,548,178 $ 2,176,496

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 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 December 31, 2024 2023 Pledged loans FHLB $ 4,813,600 $ 4,865,481 Federal Reserve Bank 765,824 722,914 Total pledged loans $ 5,579,424 $ 5,588,395 To secure its obligations under derivative contracts, Busey pledged cash and held collateral as follows (dollars in thousands) : As of December 31, 2024 2023 Cash pledged to secure obligations under derivative contracts $ 21,900 $ 34,210 Collateral held to secure obligations under derivative contracts 20,260 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 December 31, Location 2024 2023 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 7.62 % 8.50 % Weighted average maturity 4.10 years 5.10 years SOFR Loan Swaps Notional amount $ 200,000 $ — Weighted average rate: receive-fixed 3.78 % — Weighted average maturity 4.76 years — Gross aggregate fair value of the swaps Gross aggregate fair value of swap assets Other assets $ — $ 1,293 Gross aggregate fair value of swap liabilities Other liabilities $ 27,770 $ 25,411 Balances carried in AOCI Unrealized gains (losses) on cash flow hedges, net of tax AOCI $ (19,805) $ (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 December 31, 2024. As of Unrealized losses expected to be reclassified from OCI to interest income $ (725)
Schedule of Interest Income (Expense) Recorded on Swap Transactions	Interest income (expense) recorded on swap transactions was as follows for the periods presented (dollars in thousands) : Years Ended December 31, 2024 2023 2022 Interest on swap transactions Increase (decrease) in interest income on swap transactions $ (10,669) $ (10,326) $ (553) (Increase) decrease in interest expense on swap transactions 1,378 1,757 (30) Net increase (decrease) in net interest income on swap transactions $ (9,291) $ (8,569) $ (583)
Schedule of Net Gains (Losses) Relating to these Derivative Instruments	The following table reflects the net gains (losses) recorded in AOCI and the Consolidated Statements of Comprehensive Income relating to cash flow derivative instruments for the periods presented (dollars in thousands) : Years Ended December 31, 2024 2023 2022 Unrealized gains (losses) on cash flow hedges Net gain (loss) recognized in OCI, net of tax $ (10,790) $ (1,835) $ (20,717) (Gain) loss reclassified from OCI to interest income, net of tax 8,818 7,382 395 (Gain) loss reclassified from OCI to interest expense, net of tax (1,139) (1,256) 22 Net change in unrealized gains (losses) on cash flow hedges, net of tax $ (3,111) $ 4,291 $ (20,300) Changes in fair value of these derivative assets and liabilities were recorded in noninterest expense on the Consolidated Statements of Income and are summarized as follows (dollars in thousands) : Years Ended December 31, Location 2024 2023 2022 Interest rate swaps Receive-fixed, pay-floating Noninterest expense $ 1,726 $ (11,525) $ 19,308 Receive-floating, pay-fixed Noninterest expense (1,726) 11,525 (19,308) Net change in fair value of interest rate swaps $ — $ — $ — Net gains (losses) relating to these derivative instruments are summarized as follows (dollars in thousands) : Years Ended December 31, Location 2024 2023 2022 Net gains (losses) on mortgage banking derivatives Gains (losses) on interest rate lock commitments Mortgage revenue $ 585 $ — $ 15 Gains (losses) on forward sales commitments Mortgage revenue (147) 2 (38) Net gains (losses) on mortgage banking derivatives $ 438 $ 2 $ (23)
Schedule of Fair Values of Derivative Assets and Liabilities Recorded in Consolidated Balance Sheet	Amounts and fair values of derivative assets and liabilities related to customer interest rate swaps recorded on the Consolidated Balance Sheets are summarized as follows (dollars in thousands) : As of December 31, 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 $ 156,539 $ 1,465 $ 177,883 $ 2,375 Interest rate swaps: receive-floating, pay-fixed Other assets 562,697 28,854 485,253 26,289 Derivative assets not designated as hedging instruments $ 719,236 $ 30,319 $ 663,136 $ 28,664 Derivative liabilities not designated as hedging instruments Interest rate swaps: receive-fixed, pay-floating Other liabilities $ 562,697 $ 28,854 $ 485,253 $ 26,289 Interest rate swaps: receive-floating, pay-fixed Other liabilities 156,539 1,465 177,883 2,375 Derivative liabilities not designated as hedging instruments $ 719,236 $ 30,319 $ 663,136 $ 28,664 Amounts and fair values of mortgage banking derivatives included on the Consolidated Balance Sheets are summarized as follows (dollars in thousands) : As of December 31, 2024 As of December 31, 2023 Location Notional Fair Notional Fair Mortgage banking derivative assets Interest rate lock commitments Other assets $ 2,430 $ 28 $ 3,477 $ 25 Forward sales commitments Other assets 3,457 21 1,761 11 Mortgage banking derivative assets $ 5,887 $ 49 $ 5,238 $ 36 Mortgage banking derivative liabilities Interest rate lock commitments Other liabilities $ 436 $ 4 $ 1,615 $ 10 Forward sales commitments Other liabilities 1,955 6 5,216 47 Mortgage banking derivative liabilities $ 2,391 $ 10 $ 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 December 31, 2024 2023 Risk participation agreements purchased Number of risk participation agreements 5 3 Notional amount $ 40,092 $ 34,251 Fair value 5 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)	12 Months Ended
	Dec. 31, 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 as of December 31, 2024 and 2023, segregated by the level of the valuation inputs within the fair value hierarchy utilized to estimate fair value (dollars in thousands) : As of December 31, 2024 Level 1 Level 2 Level 3 Total Debt securities available for sale: Obligations of U.S. government corporations and agencies $ — $ 1,400 $ — $ 1,400 Obligations of states and political subdivisions — 139,829 — 139,829 Asset-backed securities — 336,557 — 336,557 Commercial mortgage-backed securities — 92,174 — 92,174 Residential mortgage-backed securities — 1,087,210 — 1,087,210 Corporate debt securities — 153,051 — 153,051 Equity securities 5,567 10,295 — 15,862 Derivative assets — 30,368 5 30,373 Derivative liabilities — 58,099 — 58,099 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) : Years Ended December 31, Location 2024 2023 Beginning Balance $ 15 $ 5 Gains (losses) recognized in earnings Other expense (26) (60) Purchases 16 70 Ending Balance $ 5 $ 15
Schedule of Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis	The following tables summarize assets and liabilities measured at estimated fair value on a non-recurring basis, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value (dollars in thousands) : As of December 31, 2024 Level 1 Level 2 Level 3 Total Loans evaluated individually, net of related allowance $ — $ — $ 616 $ 616 Bank property held for sale with impairment — — 2,841 2,841 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 December 31, 2024 Fair Value Valuation Unobservable Range Loans evaluated individually, net of related allowance $ 616 Appraisal of collateral Appraisal adjustments -25.0% to -100.0% (-74.9)% Bank property held for sale with impairment 2,841 Appraisal of collateral or real estate listing price Appraisal adjustments -9.0% to -76.7% (-51.8)% 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 were estimated as follows, segregated by the level of the valuation inputs within the fair value hierarchy used to measure fair value (dollars in thousands) : As of December 31, 2024 As of December 31, 2023 Carrying Fair Carrying Fair Financial assets Level 1 inputs: Cash and cash equivalents $ 697,659 $ 697,659 $ 719,581 $ 719,581 Level 2 inputs: Debt securities held to maturity 826,630 675,053 872,628 730,397 Loans held for sale 3,657 3,726 2,379 2,401 Restricted bank stock 49,930 49,930 6,000 6,000 Accrued interest receivable 45,141 45,141 45,288 45,288 Level 3 inputs: Portfolio loans, net 7,613,683 7,426,158 7,559,294 7,276,905 Mortgage servicing rights 1,304 5,627 3,289 18,079 Other servicing rights 1,482 1,591 1,597 2,062 Financial liabilities Level 2 inputs: Time deposits $ 1,490,635 $ 1,481,591 $ 1,819,274 $ 1,804,905 Securities sold under agreements to repurchase 155,610 155,610 187,396 187,396 Short-term borrowings — — 12,000 12,034 Long-term debt — — 18,000 18,020 Junior subordinated debt owed to unconsolidated trusts 74,815 67,314 71,993 57,153 Accrued interest payable 21,129 21,129 28,418 28,418 Level 3 inputs: Subordinated notes, net of unamortized issuance costs 227,723 219,043 222,882 200,000

EARNINGS PER COMMON SHARE (Tabl

EARNINGS PER COMMON SHARE (Tables)	12 Months Ended
	Dec. 31, 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) : Years Ended December 31, 2024 2023 2022 Net income $ 113,691 $ 122,565 $ 128,311 Weighted average number of common shares outstanding, basic 56,610,032 55,432,322 55,387,073 Dilutive effect of common stock equivalents: Options 753 — 1,632 Warrants — 324 1,753 RSU awards 662,341 647,217 665,998 PSU awards 243,166 151,190 58,206 DSU awards 19,956 18,154 15,532 ESPP 6,753 6,941 6,970 Weighted average number of common shares outstanding, diluted 57,543,001 56,256,148 56,137,164 Basic earnings per common share $ 2.01 $ 2.21 $ 2.32 Diluted earnings per common share 1.98 2.18 2.29
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: Years Ended December 31, 2024 2023 2022 Anti-dilutive common stock equivalents Options 9,588 21,981 7,792 RSU awards 3,216 39,445 38,912 PSU awards 140,937 106,955 189,000 Total anti-dilutive common stock equivalents 153,741 168,381 235,704

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	12 Months Ended
	Dec. 31, 2024
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent, Alternative [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table summarizes changes AOCI by component, net of tax (dollars in thousands) : Unrealized Gains (Losses) on Debt Securities Available For Sale Unrecognized Gains (Losses) on Debt Securities Held to Maturity Unrealized Gains (Losses) on Cash Flow Hedges Total Balance, December 31, 2021 $ (23,073) $ — $ (685) $ (23,758) Unrealized holding gains (losses), net (199,302) — (20,717) (220,019) Unrecognized losses on debt securities transferred to held to maturity from available for sale — (34,644) — (34,644) Amounts reclassified from AOCI, net (19) — 417 398 Amortization of unrecognized losses on securities transferred to held to maturity — 4,745 — 4,745 Balance, December 31, 2022 (222,394) (29,899) (20,985) (273,278) Unrealized holding gains (losses), net 41,824 — (1,835) 39,989 Unrecognized losses on debt securities transferred to held to maturity from available for sale — — — — Amounts reclassified from AOCI, net 3,934 — 6,126 10,060 Amortization of unrecognized losses on securities transferred to held to maturity — 4,426 — 4,426 Balance, December 31, 2023 (176,636) (25,473) (16,694) (218,803) Unrealized holding gains (losses), net 6,509 — (10,790) (4,281) Unrecognized losses on debt securities transferred to held to maturity from available for sale — — — — Amounts reclassified from AOCI, net 4,447 — 7,679 12,126 Amortization of unrecognized losses on securities transferred to held to maturity — 3,919 — 3,919 Balance, December 31, 2024 $ (165,680) $ (21,554) $ (19,805) $ (207,039)

OPERATING SEGMENTS AND RELATE_2

OPERATING SEGMENTS AND RELATED INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Schedule of Information Relating to Operating Segments	Goodwill and total assets are detailed below by operating segment. The “other” category included in the tables below consists of the parent company, First Busey Risk Management until its dissolution on December 18, 2023, and the elimination of intercompany transactions (dollars in thousands) : As of December 31, 2024 Banking Wealth Management FirsTech Other Total Goodwill $ 310,595 $ 14,108 $ 8,992 $ — $ 333,695 Total assets 11,856,651 126,180 57,737 6,154 12,046,722 As of December 31, 2023 Banking Wealth Management FirsTech Other Total Goodwill $ 294,773 $ 14,108 $ 8,992 $ — $ 317,873 Total assets 12,125,298 103,147 51,600 3,370 12,283,415 Financial results by operating segment, including significant expense categories provided to the chief operating decision maker, are detailed below (dollars in thousands) : Year Ended December 31, 2024 Banking Wealth Management FirsTech Other Total Interest income $ 523,648 $ — $ — $ 33 $ 523,681 Intersegment interest income 324 — 48 (372) — Interest expense 183,126 — — 17,944 201,070 Intersegment interest expense 2,664 — — (2,664) — Net interest income 338,182 — 48 (15,619) 322,611 Provision for credit losses 8,590 — — — 8,590 Net interest income after provision for credit losses 329,592 — 48 (15,619) 314,021 Noninterest income Wealth management fees — 63,630 — — 63,630 Fees for customer services 30,933 — — — 30,933 Payment technology solutions — — 21,983 — 21,983 All other noninterest income 20,871 1,323 — 942 23,136 Intersegment noninterest income 1,402 — 1,071 (2,473) — Noninterest income 53,206 64,953 23,054 (1,531) 139,682 Revenue 391,388 64,953 23,102 (17,150) 462,293 Noninterest expense Salaries, wages, and employee benefits 117,730 26,631 10,130 21,128 175,619 Data processing 20,631 2,263 3,692 538 27,124 Amortization of intangible assets 8,916 1,141 — — 10,057 Interchange expense — — 6,001 — 6,001 All other noninterest expense 66,433 2,836 2,736 9,593 81,598 Intersegment noninterest expense 11,457 3,096 1,443 (15,996) — Noninterest expense 225,167 35,967 24,002 15,263 300,399 Income (loss) before income taxes 157,631 28,986 (900) (32,413) 153,304 Income taxes 40,365 6,956 (230) (7,478) 39,613 Net income $ 117,266 $ 22,030 $ (670) $ (24,935) $ 113,691 Year Ended December 31, 2023 Banking Wealth Management FirsTech Other Total Interest income $ 480,438 $ — $ — $ 105 $ 480,543 Intersegment interest income — — 54 (54) — Interest expense 140,917 — — 19,005 159,922 Intersegment interest expense 3,006 — — (3,006) — Net interest income 336,515 — 54 (15,948) 320,621 Provision for credit losses 2,399 — — — 2,399 Net interest income after provision for credit losses 334,116 — 54 (15,948) 318,222 Noninterest income Wealth management fees — 57,309 — — 57,309 Fees for customer services 29,044 — — — 29,044 Payment technology solutions — — 21,192 — 21,192 All other noninterest income 15,337 514 — (2,182) 13,669 Intersegment noninterest income 1,149 — 1,554 (2,703) — Noninterest income 45,530 57,823 22,746 (4,885) 121,214 Revenue 382,045 57,823 22,800 (20,833) 441,835 Noninterest expense Salaries, wages, and employee benefits 111,834 24,474 8,522 17,767 162,597 Data processing 18,217 1,937 3,013 541 23,708 Amortization of intangible assets 8,963 1,469 — — 10,432 Interchange expense — — 6,864 — 6,864 All other noninterest expense 71,259 2,503 2,154 6,015 81,931 Intersegment noninterest expense 13,178 2,698 1,100 (16,976) — Noninterest expense 223,451 33,081 21,653 7,347 285,532 Income (loss) before income taxes 156,195 24,742 1,147 (28,180) 153,904 Income taxes 32,342 5,938 317 (7,258) 31,339 Net income $ 123,853 $ 18,804 $ 830 $ (20,922) $ 122,565 Year Ended December 31, 2022 Banking Wealth Management FirsTech Other Total Interest income $ 360,126 $ — $ — $ 50 $ 360,176 Intersegment interest income — — 65 (65) — Interest expense 18,694 — 17,854 36,548 Intersegment interest expense 1,159 — — (1,159) — Net interest income 340,273 — 65 (16,710) 323,628 Provision for credit losses 4,623 — — — 4,623 Net interest income after provision for credit losses 335,650 — 65 (16,710) 319,005 Noninterest income Wealth management fees — 55,378 — — 55,378 Fees for customer services 33,111 — — — 33,111 Payment technology solutions — — 20,067 — 20,067 All other noninterest income 19,890 16 (3) (1,846) 18,057 Intersegment noninterest income 962 — 1,656 (2,618) — Noninterest income 53,963 55,394 21,720 (4,464) 126,613 Revenue 394,236 55,394 21,785 (21,174) 450,241 Noninterest expense Salaries, wages, and employee benefits 107,159 22,993 7,899 20,965 159,016 Data processing 16,420 1,962 2,721 545 21,648 Amortization of intangible assets 9,831 1,797 — — 11,628 Interchange expense — — 6,298 — 6,298 All other noninterest expense 73,544 2,593 2,415 6,739 85,291 Intersegment noninterest expense 15,042 2,200 1,286 (18,528) — Noninterest expense 221,996 31,545 20,619 9,721 283,881 Income (loss) before income taxes 167,617 23,849 1,166 (30,895) 161,737 Income taxes 36,021 5,306 319 (8,220) 33,426 Net income $ 131,596 $ 18,543 $ 847 $ (22,675) $ 128,311

PARENT COMPANY ONLY FINANCIAL_2

PARENT COMPANY ONLY FINANCIAL INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2024
Condensed Financial Information Disclosure [Abstract]
Balance sheets	Condensed financial data for First Busey Corporation is presented below. CONDENSED BALANCE SHEETS (dollars in thousands) As of December 31, 2024 2023 Assets Cash and cash equivalents $ 73,484 $ 100,098 Debt securities — 987 Equity securities 10,295 9,364 Investments in subsidiaries: Bank 1,584,264 1,478,118 Premises and equipment, net 11 7 Other assets 29,859 20,100 Total assets $ 1,697,913 $ 1,608,674 Liabilities and stockholders' equity Liabilities: Short-term borrowings $ — $ 12,000 Long-term debt — 18,000 Subordinated notes, net of unamortized issuance costs 227,723 222,882 Junior subordinated debentures owed to unconsolidated trusts 74,815 71,993 Other liabilities 12,106 11,818 Total liabilities 314,644 336,693 Total stockholders' equity 1,383,269 1,271,981 Total liabilities and stockholders' equity $ 1,697,913 $ 1,608,674
Statements of income	Years Ended December 31, 2024 2023 2022 Operating income Dividends from subsidiaries: Bank $ 100,000 $ 90,000 $ 95,000 Non-bank — 900 1,630 Income from dissolution of non-bank subsidiary — 733 — Interest income 2,325 2,956 1,094 Gains (losses) recognized on equity securities, net 931 (2,171) (2,159) Other income 14,641 14,130 15,195 Total operating income 117,897 106,548 110,760 Expense Salaries, wages, and employee benefits 21,129 17,766 20,964 Interest expense 17,944 19,005 17,854 Operating expense 11,238 8,009 7,294 Total expense 50,311 44,780 46,112 Income (loss) before income tax benefit and equity in undistributed (in excess of) net income of subsidiaries 67,586 61,768 64,648 Income tax benefit 7,480 7,310 8,286 Income (loss) before equity in undistributed (in excess of) net income of subsidiaries 75,066 69,078 72,934 Equity in undistributed (in excess of) net income of subsidiaries Bank 38,625 53,487 55,986 Non-bank — — (609) Net income $ 113,691 $ 122,565 $ 128,311
Statements of cash flows	Years Ended December 31, 2024 2023 2022 Cash flows provided by (used in) operating activities Net income $ 113,691 $ 122,565 $ 128,311 Adjustments to reconcile net income to net cash provided by (used in) operating activities: Depreciation and amortization 1,163 1,038 1,423 Distributions more (less) than net income of subsidiaries (38,625) (53,487) (55,377) (Gains) losses recognized on equity securities, net (931) 2,171 2,159 Stock-based compensation 7,726 6,595 8,968 (Increase) decrease in other assets (8,848) 6,253 (17,754) Increase (decrease) in other liabilities 365 (7,687) 21,233 Net cash provided by (used in) operating activities 74,541 77,448 88,963 Cash flows provided by (used in) investing activities Sales (purchases) of equity securities, net 995 — 598 Net cash paid for acquisitions (14,623) — — Purchases of premises and equipment (9) — (9) Repayments of investments in subsidiaries — 1,480 — Net cash provided by (used in) investing activities (13,637) 1,480 589 Cash flows provided by (used in) financing activities Cash paid for withholding taxes on stock-based payments (1,755) (1,093) (1,276) Cash dividends paid (54,169) (53,076) (50,863) Repayments of borrowings (31,450) (12,000) (112,000) Proceeds from issuance of debt — — 98,094 Proceeds from the exercise of stock options and warrants (3) 9 — Purchase of treasury stock — (4,482) (9,912) Common stock issuance costs (141) — — Net cash provided (used in) by financing activities (87,518) (70,642) (75,957) Net increase (decrease) in cash and cash equivalents (26,614) 8,286 13,595 Cash and cash equivalents, beginning of period 100,098 91,812 78,217 Cash and cash equivalents, ending of period $ 73,484 $ 100,098 $ 91,812

SIGNIFICANT ACCOUNTING POLICI_4

SIGNIFICANT ACCOUNTING POLICIES - Trust Assets (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Accounting Policies [Abstract]
Assets under care	$ 13,830	$ 12,140

SIGNIFICANT ACCOUNTING POLICI_5

SIGNIFICANT ACCOUNTING POLICIES - Securities (Details) $ in Millions	Dec. 31, 2024 USD ($)
Accounting Policies [Abstract]
Debt securities, accrued interest	$ 10.5

SIGNIFICANT ACCOUNTING POLICI_6

SIGNIFICANT ACCOUNTING POLICIES - Loan Servicing (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2024	Dec. 31, 2023
Accounting Policies [Abstract]
Unpaid principal balances of loans serviced		$ 582.5	$ 1,490
Mortgage servicing rights sold	$ 923.5
Pre-tax gain on debt securities	7.5
Debt securities, available for sale, sold	108.2
Pre-tax loss on sale of debt securities available for sale	$ 6.8
Impairment charges		$ 0	$ 0

SIGNIFICANT ACCOUNTING POLICI_7

SIGNIFICANT ACCOUNTING POLICIES - Schedule of Estimated Useful Lives for Premises and Equipment (Details)	Dec. 31, 2024
Minimum | Buildings and improvements
Premises and equipment
Estimated Useful Life	3 years
Minimum | Furniture and equipment
Premises and equipment
Estimated Useful Life	3 years
Maximum | Buildings and improvements
Premises and equipment
Estimated Useful Life	40 years
Maximum | Furniture and equipment
Premises and equipment
Estimated Useful Life	10 years

SIGNIFICANT ACCOUNTING POLICI_8

SIGNIFICANT ACCOUNTING POLICIES - Goodwill and Other Intangibles (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Accounting Policies [Abstract]
Goodwill impairment	$ 0	$ 0

SIGNIFICANT ACCOUNTING POLICI_9

SIGNIFICANT ACCOUNTING POLICIES - Cash Surrender Value of Bank Owned Life Insurance (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Accounting Policies [Abstract]
Bank owned life insurance accrued liability	$ 5.7	$ 5.7

SIGNIFICANT ACCOUNTING POLIC_10

SIGNIFICANT ACCOUNTING POLICIES - Restricted Bank Stock (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Changes in accumulated other comprehensive income (loss) by component, net of tax
Restricted bank stock	$ 43.9
Investment in FHLB stock	6	$ 6
Federal Reserve Bank
Changes in accumulated other comprehensive income (loss) by component, net of tax
Restricted cash	$ 43.9

SIGNIFICANT ACCOUNTING POLIC_11

SIGNIFICANT ACCOUNTING POLICIES - Income Taxes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Accounting Policies [Abstract]
Deferred tax valuation adjustment	$ 1,400,000
DTA, valuation allowance	0	$ 0
Income tax examination penalties and interest accrued	100,000
Accruals for payments of interest and penalties	$ 0	$ 0

SIGNIFICANT ACCOUNTING POLIC_12

SIGNIFICANT ACCOUNTING POLICIES - Stock-Based Employee Compensation (Details) - shares		12 Months Ended
	Apr. 14, 2023	Dec. 31, 2024
2020 Equity Plan
Share-based Compensation
Increase in the number of shares authorized for issuance (in shares)	1,350,000
RSU awards
Share-based Compensation
Number of shares of common stock per award (in shares)		1
RSU awards | Minimum
Share-based Compensation
Requisite service periods		1 year
RSU awards | Maximum
Share-based Compensation
Requisite service periods		5 years
PSU awards
Share-based Compensation
Number of shares of common stock per award (in shares)		1
DSU awards
Share-based Compensation
Number of shares of common stock per award (in shares)		1
Vesting period		1 year
ESPP
Share-based Compensation
Percentage of discount to market price		15%

SIGNIFICANT ACCOUNTING POLIC_13

SIGNIFICANT ACCOUNTING POLICIES - Off Balance Sheet Arrangements (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Standby letters of credit
Obligation with Joint and Several Liability Arrangement [Line Items]
Off-balance sheet credit exposure	$ 6	$ 7.1

SIGNIFICANT ACCOUNTING POLIC_14

SIGNIFICANT ACCOUNTING POLICIES - Segment Disclosure (Details)	12 Months Ended
	Dec. 31, 2024 segment
Accounting Policies [Abstract]
Number of reportable segments	3

SIGNIFICANT ACCOUNTING POLIC_15

SIGNIFICANT ACCOUNTING POLICIES - Recently Issued Accounting Standards Not Yet Adopted (Details) - USD ($) $ in Thousands		12 Months Ended
	Jan. 01, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Changes in accumulated other comprehensive income (loss) by component, net of tax
Retained earnings decrease		$ (294,054)	$ (237,197)
Decrease in other assets		19,752	(17,888)	$ (56,284)
Decrease in other liabilities		9,612	(12,826)	(2,633)
Increase in deferred tax assets		$ (1,384)	$ 2,920	$ 1,272
Accounting Standards Update 2023-02
Changes in accumulated other comprehensive income (loss) by component, net of tax
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) $ / shares in Units, $ in Thousands			9 Months Ended	12 Months Ended
	Aug. 26, 2024 USD ($) state location shares	Apr. 01, 2024 USD ($) $ / shares shares	Dec. 31, 2024 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Business Acquisition, Contingent Consideration [Line Items]
Assets			$ 12,046,722	$ 12,046,722	$ 12,283,415
Deposits			9,982,490	9,982,490	10,291,156
Total portfolio loans			7,697,087	7,697,087	7,651,034
Fair value adjustments			400
Goodwill			333,695	333,695	317,873
CrossFirst Bankshares, Inc.
Business Acquisition, Contingent Consideration [Line Items]
Number of full-service locations | location	77
Number of states in which entity operates | state	10
Assets	$ 20,000,000
Deposits	17,000,000
Total portfolio loans	$ 14,000,000
Pre-tax acquisition expenses				3,900
Pre-tax acquisition expenses, legal, professional and consulting fees				3,100
CrossFirst Bankshares, Inc. | Common Stock | CrossFirst Bankshares, Inc.
Business Acquisition, Contingent Consideration [Line Items]
Shares received for each share owned (in shares) | shares	0.6675
Merchants and Manufacturers Bank Corporation
Business Acquisition, Contingent Consideration [Line Items]
Pre-tax acquisition expenses				3,000
Pre-tax acquisition expenses, legal, professional and consulting fees				100
Per share cash consideration entitled (in dollars per share) | $ / shares		$ 117.74
Share consideration conversion ratio		5.7294
Mixed consideration (in dollars per share) | $ / shares		$ 34.55
Mixed consideration ratio		4.0481
Business combination consideration, number of shares (in shares) | shares		1,429,304
Cash		$ 12,200
Consideration transferred per share in cash, Share Election (in dollars per share) | $ / shares		$ 5.3966
Consideration transferred per share in shares, Share Election (in shares) | shares		5.4668
Cash consideration received (in dollars per share) | $ / shares		$ 117.74
Fractional shares, payment rate (in dollars per share) | $ / shares		$ 23.32
Additional consideration transferred		$ 3,000
Number of shares redeemed ( in shares) | shares		300
Goodwill		$ 15,822
Wealth Management
Business Acquisition, Contingent Consideration [Line Items]
Goodwill			$ 14,108	$ 14,108	$ 14,108
Wealth Management | CrossFirst Bankshares, Inc.
Business Acquisition, Contingent Consideration [Line Items]
Assets	$ 14,000,000

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	Dec. 31, 2024	Dec. 31, 2023
Consideration paid
Goodwill		$ 333,695	$ 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
Premises and equipment	2,045
Right of use assets	253
Other intangible assets	6,346
Other assets	10,283
Total assets acquired	477,820
Liabilities assumed
Deposits	392,838
Short-term borrowings	35,932
Long-term debt	1,450
Subordinated notes, net of unamortized issuance costs	3,911
Junior subordinated debt owed to unconsolidated trusts	2,594
Lease liabilities	253
Other liabilities	7,089
Total liabilities assumed	444,067
Net assets acquired	33,753
Consideration paid
Cash	15,200
Common stock	34,375
Total consideration paid	49,575
Goodwill	$ 15,822

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

MERGERS AND ACQUISITIONS - Sc_3

MERGERS AND ACQUISITIONS - Schedule of Pro Forma Information (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Revenue (net interest income plus noninterest income)	$ 468,401	$ 466,973
Net income	$ 115,530	$ 130,483
Diluted earnings per common share (in dollars per share)	$ 2	$ 2.26

DEBT SECURITIES - Schedule of A

DEBT SECURITIES - Schedule of Amortized Cost, Unrealized Gains and Losses, and Fair Values of Securities Classified as AFS and HTM (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Debt Securities, Available-for-Sale [Abstract]
Amortized Cost	$ 2,039,952	$ 2,334,630
Unrealized gross gains	594	186
Unrealized gross losses	(230,325)	(247,245)
Fair Value	1,810,221	2,087,571
Debt Securities, Held-to-Maturity, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract]
Amortized Cost	826,630	872,628
Unrealized gross gains	0	0
Unrealized gross losses	(151,577)	(142,231)
Fair Value	675,053	730,397
U.S. Treasury securities
Debt Securities, Available-for-Sale [Abstract]
Amortized Cost		16,031
Unrealized gross gains		0
Unrealized gross losses		(85)
Fair Value		15,946
Obligations of U.S. government corporations and agencies
Debt Securities, Available-for-Sale [Abstract]
Amortized Cost	1,408	5,889
Unrealized gross gains	0	1
Unrealized gross losses	(8)	(58)
Fair Value	1,400	5,832
Obligations of states and political subdivisions
Debt Securities, Available-for-Sale [Abstract]
Amortized Cost	156,534	190,819
Unrealized gross gains	31	52
Unrealized gross losses	(16,736)	(18,026)
Fair Value	139,829	172,845
Asset-backed securities
Debt Securities, Available-for-Sale [Abstract]
Amortized Cost	336,379	470,046
Unrealized gross gains	181	0
Unrealized gross losses	(3)	(1,823)
Fair Value	336,557	468,223
Commercial mortgage-backed securities
Debt Securities, Available-for-Sale [Abstract]
Amortized Cost	107,305	119,044
Unrealized gross gains	0	0
Unrealized gross losses	(15,131)	(15,535)
Fair Value	92,174	103,509
Debt Securities, Held-to-Maturity, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract]
Amortized Cost	415,530	428,526
Unrealized gross gains	0	0
Unrealized gross losses	(77,242)	(71,000)
Fair Value	338,288	357,526
Residential mortgage-backed securities
Debt Securities, Available-for-Sale [Abstract]
Amortized Cost	1,279,090	1,306,854
Unrealized gross gains	19	5
Unrealized gross losses	(191,899)	(195,547)
Fair Value	1,087,210	1,111,312
Debt Securities, Held-to-Maturity, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract]
Amortized Cost	411,100	444,102
Unrealized gross gains	0	0
Unrealized gross losses	(74,335)	(71,231)
Fair Value	336,765	372,871
Corporate debt securities
Debt Securities, Available-for-Sale [Abstract]
Amortized Cost	159,236	225,947
Unrealized gross gains	363	128
Unrealized gross losses	(6,548)	(16,171)
Fair Value	$ 153,051	$ 209,904

DEBT SECURITIES - Schedule of M

DEBT SECURITIES - Schedule of Maturity of Debt Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Amortized Cost
Due in one year or less	$ 91,497
Due after one year through five years	110,271
Due after five years through ten years	518,414
Due after ten years	1,319,770
Amortized Cost	2,039,952	$ 2,334,630
Fair Value
Due in one year or less	90,406
Due after one year through five years	104,914
Due after five years through ten years	495,024
Due after ten years	1,119,877
Fair Value	1,810,221	2,087,571
Amortized Cost
Due in one year or less	18,628
Due after one year through five years	62,119
Due after five years through ten years	14,689
Due after ten years	731,194
Amortized Cost	826,630	872,628
Fair Value
Due in one year or less	18,327
Due after one year through five years	58,733
Due after five years through ten years	12,609
Due after ten years	585,384
Fair Value	$ 675,053	$ 730,397

DEBT SECURITIES - Schedule of R

DEBT SECURITIES - Schedule of Realized Gains and Losses on Debt Securities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Realized gains and losses on debt securities
Gross gains on debt securities	$ 1	$ 20	$ 115
Gross (losses) on debt securities	(7,034)	(5,523)	(89)
Realized net gains (losses) on debt securities	$ (7,033)	$ (5,503)	$ 26

DEBT SECURITIES - Narrative (De

DEBT SECURITIES - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Total pledged loans
Financial Instruments Owned and Pledged as Collateral [Line Items]
Debt securities, carrying amount	$ 871.4	$ 837.4

DEBT SECURITIES - Schedule of D

DEBT SECURITIES - Schedule of Debt Securities in an Unrealized Loss Position (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Fair Value
Less than 12 months	$ 185,148	$ 13,033
12 months or more	1,281,595	2,049,784
Total	1,466,743	2,062,817
Unrealized Losses
Less than 12 months	(895)	(65)
12 months or more	(229,430)	(247,180)
Total	(230,325)	(247,245)
Fair Value
12 months or more	675,053	730,397
Total	675,053	730,397
Unrealized Losses
12 months or more	(151,577)	(142,231)
Total	(151,577)	(142,231)
U.S. Treasury securities
Fair Value
Less than 12 months		0
12 months or more		15,946
Total		15,946
Unrealized Losses
Less than 12 months		0
12 months or more		(85)
Total		(85)
Obligations of U.S. government corporations and agencies
Fair Value
Less than 12 months	0	0
12 months or more	1,328	5,709
Total	1,328	5,709
Unrealized Losses
Less than 12 months	0	0
12 months or more	(8)	(58)
Total	(8)	(58)
Obligations of states and political subdivisions
Fair Value
Less than 12 months	11,234	11,442
12 months or more	119,723	146,797
Total	130,957	158,239
Unrealized Losses
Less than 12 months	(209)	(54)
12 months or more	(16,527)	(17,972)
Total	(16,736)	(18,026)
Asset-backed securities
Fair Value
Less than 12 months	14,997	0
12 months or more	0	468,223
Total	14,997	468,223
Unrealized Losses
Less than 12 months	(3)	0
12 months or more	0	(1,823)
Total	(3)	(1,823)
Commercial mortgage-backed securities
Fair Value
Less than 12 months	6,238	0
12 months or more	85,936	103,509
Total	92,174	103,509
Unrealized Losses
Less than 12 months	(42)	0
12 months or more	(15,089)	(15,535)
Total	(15,131)	(15,535)
Fair Value
12 months or more	338,288	357,526
Total	338,288	357,526
Unrealized Losses
12 months or more	(77,242)	(71,000)
Total	(77,242)	(71,000)
Residential mortgage-backed securities
Fair Value
Less than 12 months	152,081	141
12 months or more	930,642	1,110,906
Total	1,082,723	1,111,047
Unrealized Losses
Less than 12 months	(640)	(1)
12 months or more	(191,259)	(195,546)
Total	(191,899)	(195,547)
Fair Value
12 months or more	336,765	372,871
Total	336,765	372,871
Unrealized Losses
12 months or more	(74,335)	(71,231)
Total	(74,335)	(71,231)
Corporate debt securities
Fair Value
Less than 12 months	598	1,450
12 months or more	143,966	198,694
Total	144,564	200,144
Unrealized Losses
Less than 12 months	(1)	(10)
12 months or more	(6,547)	(16,161)
Total	$ (6,548)	$ (16,171)

DEBT SECURITIES - Schedule of_2

DEBT SECURITIES - Schedule of Additional Information About Debt Securities Unrealized Loss Position (Details) $ in Thousands	Dec. 31, 2024 USD ($) security	Dec. 31, 2023 USD ($) security
Available for Sale
Debt securities with gross unrealized or unrecognized losses, fair value | $	$ 1,466,743	$ 2,062,817
Gross unrealized or unrecognized losses on debt securities | $	$ 230,325	$ 247,245
Ratio of gross unrealized or unrecognized losses to debt securities with gross unrealized or unrecognized losses	15.70%	12%
Count of debt securities | security	677	835
Count of debt securities in an unrealized or unrecognized loss position | security	586	779
Held to Maturity
Debt securities with gross unrealized or unrecognized losses, fair value | $	$ 675,053	$ 730,397
Gross unrealized or unrecognized losses on debt securities | $	$ 151,577	$ 142,231
Ratio of gross unrealized or unrecognized losses to debt securities with gross unrealized or unrecognized losses	22.50%	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 | $	$ 2,141,796	$ 2,793,214
Gross unrealized or unrecognized losses on debt securities | $	$ 381,902	$ 389,476
Ratio of gross unrealized or unrecognized losses to debt securities with gross unrealized or unrecognized losses	17.80%	13.90%
Count of debt securities | security	732	890
Count of debt securities in an unrealized or unrecognized loss position | security	641	834

PORTFOLIO LOANS - Schedule of D

PORTFOLIO LOANS - Schedule of Distribution of Portfolio Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total portfolio loans	$ 7,697,087	$ 7,651,034
ACL	(83,404)	(91,740)	$ (91,608)	$ (87,887)
Portfolio loans, net	7,613,683	7,559,294
Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total portfolio loans	5,552,288	5,635,048
ACL	(57,235)	(61,884)
Commercial loans | C&I and other commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total portfolio loans	1,904,515	1,835,994
ACL	(21,589)	(21,256)	(23,860)	(23,855)
Commercial loans | CRE
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total portfolio loans	3,269,564	3,337,337
ACL	(32,301)	(35,465)	(38,299)	(38,249)
Commercial loans | Real estate construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total portfolio loans	378,209	461,717
ACL	(3,345)	(5,163)	(6,457)	(5,102)
Retail loans:
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total portfolio loans	2,144,799	2,015,986
ACL	(26,169)	(29,856)
Retail loans: | CRE
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total portfolio loans	1,696,457	1,720,455
ACL	(23,711)	(26,298)	(18,193)	(17,589)
Retail loans: | Retail other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total portfolio loans	448,342	295,531
ACL	$ (2,458)	$ (3,558)	$ (4,799)	$ (3,092)

PORTFOLIO LOANS - Narrative (De

PORTFOLIO LOANS - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Net deferred loan origination costs	$ 12,500,000	$ 13,500,000
Net accretable purchase accounting adjustments	(8,800,000)	(4,500,000)
Amount of interest collected and recognized on a cash basis	0	400,000	$ 400,000
Collateral dependent loans secured by real estate or business assets	19,300,000	6,100,000
90+ Days
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross interest income that would have been recorded if impaired loans had been current	900,000	1,100,000	1,200,000
Commercial loans | Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Limit where loans are processed through an expedited underwriting process	1,000,000
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
Retail loans: | CRE
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans purchased	$ 6,900,000	$ 0	$ 0

PORTFOLIO LOANS - Schedule of F

PORTFOLIO LOANS - Schedule of Financial Instruments Owned and Pledged as Collateral (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Financial Instruments Owned and Pledged as Collateral [Line Items]
Pledged loans	$ 7,613,683	$ 7,559,294
Total pledged loans
Financial Instruments Owned and Pledged as Collateral [Line Items]
Pledged loans	5,579,424	5,588,395
FHLB
Financial Instruments Owned and Pledged as Collateral [Line Items]
Pledged loans	4,813,600	4,865,481
Federal Reserve Bank
Financial Instruments Owned and Pledged as Collateral [Line Items]
Pledged loans	$ 765,824	$ 722,914

PORTFOLIO LOANS - Schedule of R

PORTFOLIO LOANS - Schedule of Risk Grades by Portfolio Class (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Financing Receivable, Allowance for Credit Loss [Line Items]
Total portfolio loans	$ 7,697,087	$ 7,651,034
Pass
Financing Receivable, Allowance for Credit Loss [Line Items]
Total portfolio loans	6,764,070	6,736,067
Watch
Financing Receivable, Allowance for Credit Loss [Line Items]
Total portfolio loans	756,610	747,122
Special Mention
Financing Receivable, Allowance for Credit Loss [Line Items]
Total portfolio loans	92,296	96,057
Substandard
Financing Receivable, Allowance for Credit Loss [Line Items]
Total portfolio loans	62,023	64,347
Substandard Non-accrual
Financing Receivable, Allowance for Credit Loss [Line Items]
Total portfolio loans	22,088	7,441
Commercial loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Total portfolio loans	5,552,288	5,635,048
Commercial loans | Pass
Financing Receivable, Allowance for Credit Loss [Line Items]
Total portfolio loans	4,635,264	4,737,796
Commercial loans | Watch
Financing Receivable, Allowance for Credit Loss [Line Items]
Total portfolio loans	747,202	735,978
Commercial loans | Special Mention
Financing Receivable, Allowance for Credit Loss [Line Items]
Total portfolio loans	91,414	95,033
Commercial loans | Substandard
Financing Receivable, Allowance for Credit Loss [Line Items]
Total portfolio loans	59,480	62,552
Commercial loans | Substandard Non-accrual
Financing Receivable, Allowance for Credit Loss [Line Items]
Total portfolio loans	18,928	3,689
Commercial loans | C&I and other commercial
Financing Receivable, Allowance for Credit Loss [Line Items]
Total portfolio loans	1,904,515	1,835,994
Commercial loans | C&I and other commercial | Pass
Financing Receivable, Allowance for Credit Loss [Line Items]
Total portfolio loans	1,545,338	1,462,755
Commercial loans | C&I and other commercial | Watch
Financing Receivable, Allowance for Credit Loss [Line Items]
Total portfolio loans	281,424	296,416
Commercial loans | C&I and other commercial | Special Mention
Financing Receivable, Allowance for Credit Loss [Line Items]
Total portfolio loans	36,152	46,488
Commercial loans | C&I and other commercial | Substandard
Financing Receivable, Allowance for Credit Loss [Line Items]
Total portfolio loans	37,749	27,733
Commercial loans | C&I and other commercial | Substandard Non-accrual
Financing Receivable, Allowance for Credit Loss [Line Items]
Total portfolio loans	3,852	2,602
Commercial loans | CRE
Financing Receivable, Allowance for Credit Loss [Line Items]
Total portfolio loans	3,269,564	3,337,337
Commercial loans | CRE | Pass
Financing Receivable, Allowance for Credit Loss [Line Items]
Total portfolio loans	2,744,018	2,827,030
Commercial loans | CRE | Watch
Financing Receivable, Allowance for Credit Loss [Line Items]
Total portfolio loans	438,945	431,427
Commercial loans | CRE | Special Mention
Financing Receivable, Allowance for Credit Loss [Line Items]
Total portfolio loans	55,041	48,545
Commercial loans | CRE | Substandard
Financing Receivable, Allowance for Credit Loss [Line Items]
Total portfolio loans	16,507	29,492
Commercial loans | CRE | Substandard Non-accrual
Financing Receivable, Allowance for Credit Loss [Line Items]
Total portfolio loans	15,053	843
Commercial loans | Real estate construction
Financing Receivable, Allowance for Credit Loss [Line Items]
Total portfolio loans	378,209	461,717
Commercial loans | Real estate construction | Pass
Financing Receivable, Allowance for Credit Loss [Line Items]
Total portfolio loans	345,908	448,011
Commercial loans | Real estate construction | Watch
Financing Receivable, Allowance for Credit Loss [Line Items]
Total portfolio loans	26,833	8,135
Commercial loans | Real estate construction | Special Mention
Financing Receivable, Allowance for Credit Loss [Line Items]
Total portfolio loans	221	0
Commercial loans | Real estate construction | Substandard
Financing Receivable, Allowance for Credit Loss [Line Items]
Total portfolio loans	5,224	5,327
Commercial loans | Real estate construction | Substandard Non-accrual
Financing Receivable, Allowance for Credit Loss [Line Items]
Total portfolio loans	23	244
Retail loans:
Financing Receivable, Allowance for Credit Loss [Line Items]
Total portfolio loans	2,144,799	2,015,986
Retail loans: | Pass
Financing Receivable, Allowance for Credit Loss [Line Items]
Total portfolio loans	2,128,806	1,998,271
Retail loans: | Watch
Financing Receivable, Allowance for Credit Loss [Line Items]
Total portfolio loans	9,408	11,144
Retail loans: | Special Mention
Financing Receivable, Allowance for Credit Loss [Line Items]
Total portfolio loans	882	1,024
Retail loans: | Substandard
Financing Receivable, Allowance for Credit Loss [Line Items]
Total portfolio loans	2,543	1,795
Retail loans: | Substandard Non-accrual
Financing Receivable, Allowance for Credit Loss [Line Items]
Total portfolio loans	3,160	3,752
Retail loans: | CRE
Financing Receivable, Allowance for Credit Loss [Line Items]
Total portfolio loans	1,696,457	1,720,455
Retail loans: | CRE | Pass
Financing Receivable, Allowance for Credit Loss [Line Items]
Total portfolio loans	1,680,640	1,702,897
Retail loans: | CRE | Watch
Financing Receivable, Allowance for Credit Loss [Line Items]
Total portfolio loans	9,408	11,144
Retail loans: | CRE | Special Mention
Financing Receivable, Allowance for Credit Loss [Line Items]
Total portfolio loans	882	1,024
Retail loans: | CRE | Substandard
Financing Receivable, Allowance for Credit Loss [Line Items]
Total portfolio loans	2,543	1,795
Retail loans: | CRE | Substandard Non-accrual
Financing Receivable, Allowance for Credit Loss [Line Items]
Total portfolio loans	2,984	3,595
Retail loans: | Retail other
Financing Receivable, Allowance for Credit Loss [Line Items]
Total portfolio loans	448,342	295,531
Retail loans: | Retail other | Pass
Financing Receivable, Allowance for Credit Loss [Line Items]
Total portfolio loans	448,166	295,374
Retail loans: | Retail other | Watch
Financing Receivable, Allowance for Credit Loss [Line Items]
Total portfolio loans	0	0
Retail loans: | Retail other | Special Mention
Financing Receivable, Allowance for Credit Loss [Line Items]
Total portfolio loans	0	0
Retail loans: | Retail other | Substandard
Financing Receivable, Allowance for Credit Loss [Line Items]
Total portfolio loans	0	0
Retail loans: | Retail other | Substandard Non-accrual
Financing Receivable, Allowance for Credit Loss [Line Items]
Total portfolio loans	$ 176	$ 157

PORTFOLIO LOANS - Schedule of_2

PORTFOLIO LOANS - Schedule of Risk Grades of Portfolio Loans, Further Sorted by Origination (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	$ 1,137,553	$ 1,520,323
2024 / 2023, charge-off	9	289
2023 / 2022	1,129,573	1,785,798
2023 /2022, charge-off	15,011	76
2022 / 2021	1,485,489	1,552,072
2022 / 2021, charge-off	254	592
2021 / 2020	1,250,313	705,335
2021 / 2020, charge-off	3,099	34
2020 / 2019	619,027	468,659
2020 / 2019, charge-off	4	391
Prior	774,903	660,624
Prior, charge-off	1,189	3,036
Revolving Loans	1,300,229	958,223
Revolving Loans, charge-off	0	0
Total	7,697,087	7,651,034
Total	19,566	4,418
Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Total	6,764,070	6,736,067
Watch
Financing Receivable, Credit Quality Indicator [Line Items]
Total	756,610	747,122
Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Total	92,296	96,057
Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total	62,023	64,347
Substandard Non-accrual
Financing Receivable, Credit Quality Indicator [Line Items]
Total	22,088	7,441
Commercial loans
Financing Receivable, Credit Quality Indicator [Line Items]
Total	5,552,288	5,635,048
Commercial loans | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Total	4,635,264	4,737,796
Commercial loans | Watch
Financing Receivable, Credit Quality Indicator [Line Items]
Total	747,202	735,978
Commercial loans | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Total	91,414	95,033
Commercial loans | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total	59,480	62,552
Commercial loans | Substandard Non-accrual
Financing Receivable, Credit Quality Indicator [Line Items]
Total	18,928	3,689
Commercial loans | C&I and other commercial
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	376,534	394,854
2024 / 2023, charge-off	0	284
2023 / 2022	206,282	295,539
2023 /2022, charge-off	14,980	0
2022 / 2021	215,489	184,527
2022 / 2021, charge-off	148	420
2021 / 2020	144,671	96,530
2021 / 2020, charge-off	22	0
2020 / 2019	76,789	47,510
2020 / 2019, charge-off	0	316
Prior	144,014	169,911
Prior, charge-off	303	1,409
Revolving Loans	740,736	647,123
Revolving Loans, charge-off	0	0
Total	1,904,515	1,835,994
Total	15,453	2,429
Commercial loans | C&I and other commercial | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	320,831	306,578
2023 / 2022	147,909	220,847
2022 / 2021	163,870	159,130
2021 / 2020	125,053	71,025
2020 / 2019	74,146	35,927
Prior	117,234	143,078
Revolving Loans	596,295	526,170
Total	1,545,338	1,462,755
Commercial loans | C&I and other commercial | Watch
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	38,734	78,603
2023 / 2022	49,394	65,703
2022 / 2021	44,709	21,421
2021 / 2020	16,393	23,919
2020 / 2019	2,175	7,035
Prior	20,964	21,293
Revolving Loans	109,055	78,442
Total	281,424	296,416
Commercial loans | C&I and other commercial | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	1,718	792
2023 / 2022	2,293	8,224
2022 / 2021	5,658	2,917
2021 / 2020	2,634	1,076
2020 / 2019	106	686
Prior	2,540	3,274
Revolving Loans	21,203	29,519
Total	36,152	46,488
Commercial loans | C&I and other commercial | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	15,186	8,715
2023 / 2022	6,545	765
2022 / 2021	788	942
2021 / 2020	591	426
2020 / 2019	320	3,734
Prior	2,424	1,859
Revolving Loans	11,895	11,292
Total	37,749	27,733
Commercial loans | C&I and other commercial | Substandard Non-accrual
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	65	166
2023 / 2022	141	0
2022 / 2021	464	117
2021 / 2020	0	84
2020 / 2019	42	128
Prior	852	407
Revolving Loans	2,288	1,700
Total	3,852	2,602
Commercial loans | CRE
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	467,816	578,595
2024 / 2023, charge-off	0	0
2023 / 2022	488,528	882,350
2023 /2022, charge-off	0	0
2022 / 2021	828,525	844,293
2022 / 2021, charge-off	0	0
2021 / 2020	709,847	441,134
2021 / 2020, charge-off	2,999	0
2020 / 2019	389,461	344,373
2020 / 2019, charge-off	0	0
Prior	358,936	226,537
Prior, charge-off	315	953
Revolving Loans	26,451	20,055
Revolving Loans, charge-off	0	0
Total	3,269,564	3,337,337
Total	3,314	953
Commercial loans | CRE | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	291,503	395,644
2023 / 2022	354,591	824,506
2022 / 2021	755,266	720,052
2021 / 2020	645,994	399,195
2020 / 2019	356,867	271,078
Prior	314,340	199,662
Revolving Loans	25,457	16,893
Total	2,744,018	2,827,030
Commercial loans | CRE | Watch
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	115,078	166,795
2023 / 2022	132,900	47,070
2022 / 2021	60,611	92,848
2021 / 2020	62,408	34,010
2020 / 2019	28,320	68,196
Prior	38,733	19,396
Revolving Loans	895	3,112
Total	438,945	431,427
Commercial loans | CRE | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	39,252	14,313
2023 / 2022	643	10,507
2022 / 2021	8,020	12,446
2021 / 2020	1,395	4,968
2020 / 2019	4,165	3,297
Prior	1,517	3,014
Revolving Loans	49	0
Total	55,041	48,545
Commercial loans | CRE | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	6,983	1,796
2023 / 2022	355	188
2022 / 2021	4,628	18,862
2021 / 2020	50	2,938
2020 / 2019	95	1,802
Prior	4,346	3,856
Revolving Loans	50	50
Total	16,507	29,492
Commercial loans | CRE | Substandard Non-accrual
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	15,000	47
2023 / 2022	39	79
2022 / 2021	0	85
2021 / 2020	0	23
2020 / 2019	14	0
Prior	0	609
Revolving Loans	0	0
Total	15,053	843
Commercial loans | Real estate construction
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	185,219	213,138
2023 / 2022	140,905	132,868
2022 / 2021	12,205	85,593
2021 / 2020	25,233	2,938
2020 / 2019	2,213	1,364
Prior	1,124	3,178
Revolving Loans	11,310	22,638
Total	378,209	461,717
Commercial loans | Real estate construction | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	159,825	204,952
2023 / 2022	134,450	128,462
2022 / 2021	12,205	85,086
2021 / 2020	24,781	2,616
2020 / 2019	2,213	1,323
Prior	1,124	2,934
Revolving Loans	11,310	22,638
Total	345,908	448,011
Commercial loans | Real estate construction | Watch
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	20,170	2,859
2023 / 2022	6,455	4,406
2022 / 2021	0	507
2021 / 2020	208	322
2020 / 2019	0	41
Prior	0	0
Revolving Loans	0	0
Total	26,833	8,135
Commercial loans | Real estate construction | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	0
2023 / 2022	0
2022 / 2021	0
2021 / 2020	221
2020 / 2019	0
Prior	0
Revolving Loans	0
Total	221	0
Commercial loans | Real estate construction | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	5,224	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	5,224	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	23	0
2020 / 2019	0	0
Prior	0	244
Revolving Loans	0	0
Total	23	244
Retail loans:
Financing Receivable, Credit Quality Indicator [Line Items]
Total	2,144,799	2,015,986
Retail loans: | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Total	2,128,806	1,998,271
Retail loans: | Watch
Financing Receivable, Credit Quality Indicator [Line Items]
Total	9,408	11,144
Retail loans: | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Total	882	1,024
Retail loans: | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total	2,543	1,795
Retail loans: | Substandard Non-accrual
Financing Receivable, Credit Quality Indicator [Line Items]
Total	3,160	3,752
Retail loans: | CRE
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	102,988	244,851
2024 / 2023, charge-off	0	0
2023 / 2022	238,099	382,017
2023 /2022, charge-off	0	5
2022 / 2021	371,259	414,578
2022 / 2021, charge-off	0	0
2021 / 2020	358,351	158,032
2021 / 2020, charge-off	0	29
2020 / 2019	148,260	70,815
2020 / 2019, charge-off	0	72
Prior	270,229	260,142
Prior, charge-off	168	301
Revolving Loans	207,271	190,020
Revolving Loans, charge-off	0	0
Total	1,696,457	1,720,455
Total	168	407
Retail loans: | CRE | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	101,582	243,400
2023 / 2022	237,306	376,922
2022 / 2021	366,820	411,723
2021 / 2020	354,380	156,762
2020 / 2019	147,236	70,099
Prior	267,431	256,571
Revolving Loans	205,885	187,420
Total	1,680,640	1,702,897
Retail loans: | CRE | Watch
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	1,255	1,096
2023 / 2022	550	4,137
2022 / 2021	2,733	2,442
2021 / 2020	3,377	954
2020 / 2019	872	536
Prior	124	234
Revolving Loans	497	1,745
Total	9,408	11,144
Retail loans: | CRE | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	151	286
2023 / 2022	0	358
2022 / 2021	344	0
2021 / 2020	0	0
2020 / 2019	0	0
Prior	372	380
Revolving Loans	15	0
Total	882	1,024
Retail loans: | CRE | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	0	69
2023 / 2022	243	72
2022 / 2021	1,018	292
2021 / 2020	503	49
2020 / 2019	0	80
Prior	776	997
Revolving Loans	3	236
Total	2,543	1,795
Retail loans: | CRE | Substandard Non-accrual
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	0	0
2023 / 2022	0	528
2022 / 2021	344	121
2021 / 2020	91	267
2020 / 2019	152	100
Prior	1,526	1,960
Revolving Loans	871	619
Total	2,984	3,595
Retail loans: | Retail other
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	4,996	88,885
2024 / 2023, charge-off	9	5
2023 / 2022	55,759	93,024
2023 /2022, charge-off	31	71
2022 / 2021	58,011	23,081
2022 / 2021, charge-off	106	172
2021 / 2020	12,211	6,701
2021 / 2020, charge-off	78	5
2020 / 2019	2,304	4,597
2020 / 2019, charge-off	4	3
Prior	600	856
Prior, charge-off	403	373
Revolving Loans	314,461	78,387
Revolving Loans, charge-off	0	0
Total	448,342	295,531
Total	631	629
Retail loans: | Retail other | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	4,996	88,885
2023 / 2022	55,665	92,931
2022 / 2021	57,944	23,019
2021 / 2020	12,207	6,701
2020 / 2019	2,304	4,597
Prior	589	854
Revolving Loans	314,461	78,387
Total	448,166	295,374
Retail loans: | Retail other | Watch
Financing Receivable, Credit Quality Indicator [Line Items]
Total	0	0
Retail loans: | Retail other | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Total	0	0
Retail loans: | Retail other | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total	0	0
Retail loans: | Retail other | Substandard Non-accrual
Financing Receivable, Credit Quality Indicator [Line Items]
2024 / 2023	0	0
2023 / 2022	94	93
2022 / 2021	67	62
2021 / 2020	4	0
2020 / 2019	0	0
Prior	11	2
Revolving Loans	0	0
Total	$ 176	$ 157

PORTFOLIO LOANS - Schedule of P

PORTFOLIO LOANS - Schedule of Past Due and Non-accrual Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Financing Receivable, Past Due [Line Items]
Total portfolio loans	$ 7,697,087	$ 7,651,034
90 days past due and still accruing	1,149	375
Non-accrual Loans	22,088	7,441
30-59 Days
Financing Receivable, Past Due [Line Items]
Total portfolio loans	4,552	4,443
60-89 Days
Financing Receivable, Past Due [Line Items]
Total portfolio loans	3,572	1,336
Commercial loans
Financing Receivable, Past Due [Line Items]
Total portfolio loans	5,552,288	5,635,048
90 days past due and still accruing	0	0
Non-accrual Loans	18,928	3,689
Commercial loans | 30-59 Days
Financing Receivable, Past Due [Line Items]
Total portfolio loans	178	776
Commercial loans | 60-89 Days
Financing Receivable, Past Due [Line Items]
Total portfolio loans	2,759	214
Commercial loans | C&I and other commercial
Financing Receivable, Past Due [Line Items]
Total portfolio loans	1,904,515	1,835,994
90 days past due and still accruing	0	0
Non-accrual Loans	3,852	2,602
Commercial loans | C&I and other commercial | 30-59 Days
Financing Receivable, Past Due [Line Items]
Total portfolio loans	95	0
Commercial loans | C&I and other commercial | 60-89 Days
Financing Receivable, Past Due [Line Items]
Total portfolio loans	0	214
Commercial loans | CRE
Financing Receivable, Past Due [Line Items]
Total portfolio loans	3,269,564	3,337,337
90 days past due and still accruing	0	0
Non-accrual Loans	15,053	843
Commercial loans | CRE | 30-59 Days
Financing Receivable, Past Due [Line Items]
Total portfolio loans	42	752
Commercial loans | CRE | 60-89 Days
Financing Receivable, Past Due [Line Items]
Total portfolio loans	2,759	0
Commercial loans | Real estate construction
Financing Receivable, Past Due [Line Items]
Total portfolio loans	378,209	461,717
90 days past due and still accruing	0	0
Non-accrual Loans	23	244
Commercial loans | Real estate construction | 30-59 Days
Financing Receivable, Past Due [Line Items]
Total portfolio loans	41	24
Commercial loans | Real estate construction | 60-89 Days
Financing Receivable, Past Due [Line Items]
Total portfolio loans	0	0
Retail loans:
Financing Receivable, Past Due [Line Items]
Total portfolio loans	2,144,799	2,015,986
90 days past due and still accruing	1,149	375
Non-accrual Loans	3,160	3,752
Retail loans: | 30-59 Days
Financing Receivable, Past Due [Line Items]
Total portfolio loans	4,374	3,667
Retail loans: | 60-89 Days
Financing Receivable, Past Due [Line Items]
Total portfolio loans	813	1,122
Retail loans: | CRE
Financing Receivable, Past Due [Line Items]
Total portfolio loans	1,696,457	1,720,455
90 days past due and still accruing	1,115	366
Non-accrual Loans	2,984	3,595
Retail loans: | CRE | 30-59 Days
Financing Receivable, Past Due [Line Items]
Total portfolio loans	3,280	2,781
Retail loans: | CRE | 60-89 Days
Financing Receivable, Past Due [Line Items]
Total portfolio loans	683	927
Retail loans: | Retail other
Financing Receivable, Past Due [Line Items]
Total portfolio loans	448,342	295,531
90 days past due and still accruing	34	9
Non-accrual Loans	176	157
Retail loans: | Retail other | 30-59 Days
Financing Receivable, Past Due [Line Items]
Total portfolio loans	1,094	886
Retail loans: | Retail other | 60-89 Days
Financing Receivable, Past Due [Line Items]
Total portfolio loans	$ 130	$ 195

PORTFOLIO LOANS - Schedule of L

PORTFOLIO LOANS - Schedule of Loan Modifications for Borrowers Experiencing Financial Difficulty (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Payment Deferral
Financing Receivable, Modified [Line Items]
Amortized cost basis	$ 325
% of total class of financing receivable	0%
Payment Deferral | Commercial loans | C&I and other commercial
Financing Receivable, Modified [Line Items]
Amortized cost basis	$ 325
% of total class of financing receivable	0%	0%
Payment Deferral | Commercial loans | CRE
Financing Receivable, Modified [Line Items]
Amortized cost basis	$ 0
% of total class of financing receivable	0%
Payment Deferral | Commercial loans | Real estate construction
Financing Receivable, Modified [Line Items]
Amortized cost basis	$ 0
% of total class of financing receivable	0%
Term Extension
Financing Receivable, Modified [Line Items]
Amortized cost basis	$ 49,546	$ 22,836
% of total class of financing receivable	0.60%	0.30%
Term Extension | Commercial loans | C&I and other commercial
Financing Receivable, Modified [Line Items]
Amortized cost basis	$ 26,175	$ 16,586
% of total class of financing receivable	1.40%	0.90%
Term Extension | Commercial loans | CRE
Financing Receivable, Modified [Line Items]
Amortized cost basis	$ 18,147	$ 923
% of total class of financing receivable	0.60%	0%
Term Extension | Commercial loans | Real estate construction
Financing Receivable, Modified [Line Items]
Amortized cost basis	$ 5,224	$ 5,327
% of total class of financing receivable	1.40%	1.20%
Interest Rate Reduction
Financing Receivable, Modified [Line Items]
Amortized cost basis		$ 872
% of total class of financing receivable		0%
Interest Rate Reduction | Commercial loans | C&I and other commercial
Financing Receivable, Modified [Line Items]
Amortized cost basis		$ 0
% of total class of financing receivable		0%
Interest Rate Reduction | Commercial loans | CRE
Financing Receivable, Modified [Line Items]
Amortized cost basis		$ 872
% of total class of financing receivable		0%
Interest Rate Reduction | Commercial loans | Real estate construction
Financing Receivable, Modified [Line Items]
Amortized cost basis		$ 0
% of total class of financing receivable		0%

PORTFOLIO LOANS - Schedule of t

PORTFOLIO LOANS - Schedule of the Financial Effect of Loan Modifications (Details)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Financing Receivable, Modified [Line Items]
Weighted Average Term Extension	10 months 9 days	16 months 24 days
Weighted Average Interest Rate Reduction		2.50%
Commercial loans | C&I and other commercial
Financing Receivable, Modified [Line Items]
Weighted Average Term Extension	15 months 18 days	18 months 3 days
Commercial loans | CRE
Financing Receivable, Modified [Line Items]
Weighted Average Term Extension	3 months 24 days	21 months
Weighted Average Interest Rate Reduction		2.50%
Commercial loans | Real estate construction
Financing Receivable, Modified [Line Items]
Weighted Average Term Extension	6 months	12 months

PORTFOLIO LOANS - Schedule of_3

PORTFOLIO LOANS - Schedule of Performance of Modified Loans (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Financing Receivable, Modified [Line Items]
Non-accrual	$ 15,000
Current
Financing Receivable, Modified [Line Items]
Current	34,871
30-89 Days
Financing Receivable, Modified [Line Items]
Current	0
90+ Days
Financing Receivable, Modified [Line Items]
Current	0
Commercial loans | C&I and other commercial
Financing Receivable, Modified [Line Items]
Non-accrual	0
Commercial loans | C&I and other commercial | Current
Financing Receivable, Modified [Line Items]
Current	26,500
Commercial loans | C&I and other commercial | 30-89 Days
Financing Receivable, Modified [Line Items]
Current	0
Commercial loans | C&I and other commercial | 90+ Days
Financing Receivable, Modified [Line Items]
Current	0
Commercial loans | CRE
Financing Receivable, Modified [Line Items]
Non-accrual	15,000
Commercial loans | CRE | Current
Financing Receivable, Modified [Line Items]
Current	3,147
Commercial loans | CRE | 30-89 Days
Financing Receivable, Modified [Line Items]
Current	0
Commercial loans | CRE | 90+ Days
Financing Receivable, Modified [Line Items]
Current	0
Commercial loans | Real estate construction
Financing Receivable, Modified [Line Items]
Non-accrual	0
Commercial loans | Real estate construction | Current
Financing Receivable, Modified [Line Items]
Current	5,224
Commercial loans | Real estate construction | 30-89 Days
Financing Receivable, Modified [Line Items]
Current	0
Commercial loans | Real estate construction | 90+ Days
Financing Receivable, Modified [Line Items]
Current	$ 0

PORTFOLIO LOANS - Loans with Su

PORTFOLIO LOANS - Loans with Subsequent Defaults (Details) - Term Extension - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Distributions of portfolio loans
Loans with Subsequent Defaults	$ 15,000	$ 88
Commercial loans | C&I and other commercial
Distributions of portfolio loans
Loans with Subsequent Defaults	0	88
Commercial loans | CRE
Distributions of portfolio loans
Loans with Subsequent Defaults	$ 15,000	$ 0

PORTFOLIO LOANS - Schedule of_4

PORTFOLIO LOANS - Schedule of Loans Evaluated Individually, Segregated by Loan Category and Class (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Financing Receivable, Troubled Debt Restructuring [Line Items]
Unpaid Principal Balance	$ 26,278	$ 10,096
With No Allowance	17,352	1,256
With Allowance	2,456	1,895
Total	19,808	3,151
Related Allowance	1,840	895
Average Recorded Investment	9,172	9,948
Commercial loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Unpaid Principal Balance	25,126	9,883
With No Allowance	16,224	1,195
With Allowance	2,456	1,870
Total	18,680	3,065
Related Allowance	1,840	870
Average Recorded Investment	8,896	9,158
Commercial loans | C&I and other commercial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Unpaid Principal Balance	7,127	7,283
With No Allowance	1,224	585
With Allowance	2,456	1,785
Total	3,680	2,370
Related Allowance	1,840	785
Average Recorded Investment	5,014	5,244
Commercial loans | CRE
Financing Receivable, Troubled Debt Restructuring [Line Items]
Unpaid Principal Balance	17,999	2,600
With No Allowance	15,000	610
With Allowance	0	85
Total	15,000	695
Related Allowance	0	85
Average Recorded Investment	3,882	3,865
Commercial loans | Real estate construction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Unpaid Principal Balance		0
With No Allowance		0
With Allowance		0
Total	0	0
Related Allowance	0	0
Average Recorded Investment		49
Retail loans:
Financing Receivable, Troubled Debt Restructuring [Line Items]
Unpaid Principal Balance	1,152	213
With No Allowance	1,128	61
With Allowance	0	25
Total	1,128	86
Related Allowance	0	25
Average Recorded Investment	276	790
Retail loans: | CRE
Financing Receivable, Troubled Debt Restructuring [Line Items]
Unpaid Principal Balance	1,152	213
With No Allowance	1,128	61
With Allowance	0	25
Total	1,128	86
Related Allowance	0	25
Average Recorded Investment	$ 276	$ 790

PORTFOLIO LOANS - Schedule of A

PORTFOLIO LOANS - Schedule of Activity on the Allowance for Loan Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Activity in the allowance for loan losses
ACL beginning balance	$ 91,740	$ 91,608	$ 87,887
Day 1 PCD	1,243
Provision for credit losses	8,590	2,399	4,623
Charged-off	(19,566)	(4,418)	(3,179)
Recoveries	1,397	2,151	2,277
ACL ending balance	83,404	91,740	91,608
Commercial loans
Activity in the allowance for loan losses
ACL beginning balance	61,884
ACL ending balance	57,235	61,884
Commercial loans | C&I and other commercial
Activity in the allowance for loan losses
ACL beginning balance	21,256	23,860	23,855
Day 1 PCD	824
Provision for credit losses	14,455	(727)	497
Charged-off	(15,453)	(2,429)	(1,069)
Recoveries	507	552	577
ACL ending balance	21,589	21,256	23,860
Commercial loans | CRE
Activity in the allowance for loan losses
ACL beginning balance	35,465	38,299	38,249
Day 1 PCD	322
Provision for credit losses	(318)	(2,455)	892
Charged-off	(3,314)	(953)	(1,375)
Recoveries	146	574	533
ACL ending balance	32,301	35,465	38,299
Commercial loans | Real estate construction
Activity in the allowance for loan losses
ACL beginning balance	5,163	6,457	5,102
Day 1 PCD	0
Provision for credit losses	(1,885)	(1,465)	1,142
Charged-off	0	0	(23)
Recoveries	67	171	236
ACL ending balance	3,345	5,163	6,457
Retail loans:
Activity in the allowance for loan losses
ACL beginning balance	29,856
ACL ending balance	26,169	29,856
Retail loans: | CRE
Activity in the allowance for loan losses
ACL beginning balance	26,298	18,193	17,589
Day 1 PCD	96
Provision for credit losses	(3,031)	7,922	219
Charged-off	(168)	(407)	(251)
Recoveries	516	590	636
ACL ending balance	23,711	26,298	18,193
Retail loans: | Retail other
Activity in the allowance for loan losses
ACL beginning balance	3,558	4,799	3,092
Day 1 PCD	1
Provision for credit losses	(631)	(876)	1,873
Charged-off	(631)	(629)	(461)
Recoveries	161	264	295
ACL ending balance	$ 2,458	$ 3,558	$ 4,799

PORTFOLIO LOANS - Schedule of_5

PORTFOLIO LOANS - Schedule of ACL and Amortized Cost of Portfolio Loans by Loan Category (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Portfolio Loans
Collectively Evaluated for Impairment	$ 7,677,279	$ 7,647,883
Individually Evaluated for Impairment	19,808	3,151
Total	7,697,087	7,651,034
ACL Attributed to Portfolio Loans
Collectively Evaluated for Impairment	81,564	90,845
Individually Evaluated for Impairment	1,840	895
Total	83,404	91,740	$ 91,608	$ 87,887
Commercial loans
Portfolio Loans
Collectively Evaluated for Impairment	5,533,608	5,631,983
Individually Evaluated for Impairment	18,680	3,065
Total	5,552,288	5,635,048
ACL Attributed to Portfolio Loans
Collectively Evaluated for Impairment	55,395	61,014
Individually Evaluated for Impairment	1,840	870
Total	57,235	61,884
Commercial loans | C&I and other commercial
Portfolio Loans
Collectively Evaluated for Impairment	1,900,835	1,833,624
Individually Evaluated for Impairment	3,680	2,370
Total	1,904,515	1,835,994
ACL Attributed to Portfolio Loans
Collectively Evaluated for Impairment	19,749	20,471
Individually Evaluated for Impairment	1,840	785
Total	21,589	21,256	23,860	23,855
Commercial loans | CRE
Portfolio Loans
Collectively Evaluated for Impairment	3,254,564	3,336,642
Individually Evaluated for Impairment	15,000	695
Total	3,269,564	3,337,337
ACL Attributed to Portfolio Loans
Collectively Evaluated for Impairment	32,301	35,380
Individually Evaluated for Impairment	0	85
Total	32,301	35,465	38,299	38,249
Commercial loans | Real estate construction
Portfolio Loans
Collectively Evaluated for Impairment	378,209	461,717
Individually Evaluated for Impairment	0	0
Total	378,209	461,717
ACL Attributed to Portfolio Loans
Collectively Evaluated for Impairment	3,345	5,163
Individually Evaluated for Impairment	0	0
Total	3,345	5,163	6,457	5,102
Retail loans:
Portfolio Loans
Collectively Evaluated for Impairment	2,143,671	2,015,900
Individually Evaluated for Impairment	1,128	86
Total	2,144,799	2,015,986
ACL Attributed to Portfolio Loans
Collectively Evaluated for Impairment	26,169	29,831
Individually Evaluated for Impairment	0	25
Total	26,169	29,856
Retail loans: | CRE
Portfolio Loans
Collectively Evaluated for Impairment	1,695,329	1,720,369
Individually Evaluated for Impairment	1,128	86
Total	1,696,457	1,720,455
ACL Attributed to Portfolio Loans
Collectively Evaluated for Impairment	23,711	26,273
Individually Evaluated for Impairment	0	25
Total	23,711	26,298	18,193	17,589
Retail loans: | Retail other
Portfolio Loans
Collectively Evaluated for Impairment	448,342	295,531
Individually Evaluated for Impairment	0	0
Total	448,342	295,531
ACL Attributed to Portfolio Loans
Collectively Evaluated for Impairment	2,458	3,558
Individually Evaluated for Impairment	0	0
Total	$ 2,458	$ 3,558	$ 4,799	$ 3,092

OTHER REAL ESTATE OWNED AND O_3

OTHER REAL ESTATE OWNED AND OTHER REPOSSESSED ASSETS - Schedule of OREO and Other Repossessed Assets Balances (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
OREO
OREO and other repossessed assets	$ 63	$ 125	$ 850	$ 4,416
Residential
OREO
Residential	$ 63	$ 125

OTHER REAL ESTATE OWNED AND O_4

OTHER REAL ESTATE OWNED AND OTHER REPOSSESSED ASSETS - Schedule of Activity Related to OREO and Other Repossessed Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Other Real Estate [Roll Forward]
OREO and other repossessed assets at January 1	$ 125	$ 850	$ 4,416
Additions, transfers from loans	26	189	175
Sales	(84)	(770)	(2,565)
Cash payments collected	(4)	(44)	(565)
Impairment of OREO and other repossessed assets	0	(100)	(611)
OREO and other repossessed assets at December 31	$ 63	$ 125	$ 850

OTHER REAL ESTATE OWNED AND O_5

OTHER REAL ESTATE OWNED AND OTHER REPOSSESSED ASSETS - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Residential
Real Estate Properties [Line Items]
Residential real estate in the process of foreclosure	$ 0.4	$ 0.3

OTHER REAL ESTATE OWNED AND O_6

OTHER REAL ESTATE OWNED AND OTHER REPOSSESSED ASSETS - Schedule of Expenses Related to OREO and Other Repossessed Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Other Real Estate, Foreclosed Assets, and Repossessed Assets [Abstract]
Net gain (loss) on sales	$ 585	$ (54)	$ (665)
Operating income (expense), net	(17)	(67)	(248)
Activity for OREO and other repossessed assets	$ 568	$ (121)	$ (913)

PREMISES AND EQUIPMENT - Schedu

PREMISES AND EQUIPMENT - Schedule of Premises and Equipment, net (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Premises and equipment
Premises and equipment, gross	$ 226,695	$ 222,475
Accumulated depreciation	107,875	99,881
Premises and equipment, net	118,820	122,594
Land and improvements
Premises and equipment
Premises and equipment, gross	42,565	43,076
Buildings and improvements
Premises and equipment
Premises and equipment, gross	130,185	128,322
Furniture and equipment
Premises and equipment
Premises and equipment, gross	$ 53,945	$ 51,077

PREMISES AND EQUIPMENT - Sche_2

PREMISES AND EQUIPMENT - Schedule of Depreciation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 9,503	$ 9,488	$ 10,482

LEASES - Schedule of Lease-Rela

LEASES - Schedule of Lease-Related Balances (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Lease balances
Right of use assets	$ 10,608	$ 11,027
Lease liabilities	$ 11,040	$ 11,308
Lease terms
Weighted average remaining lease term	7 years 6 months 18 days	8 years 4 months 20 days
Weighted average discount rate	3.77%	3.59%

LEASES - Schedule of Lease Cost

LEASES - Schedule of Lease Cost and Other Lease Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Lease costs
Operating lease costs	$ 2,352	$ 2,395	$ 2,495
Variable lease costs	58	38	365
Short-term lease costs	83	50	22
Total lease cost	2,493	2,483	2,882
Cash flows related to leases
Operating lease cash flows – Fixed payments	2,194	2,290	3,080
Operating lease cash flows – Liability reduction	1,798	1,883	2,285
Right of use assets obtained during the period in exchange for operating lease liabilities	1,579	$ 231	$ 6,206
Merchants and Manufacturers Bank Corporation
Cash flows related to leases
Right of use assets obtained during the period in exchange for operating lease liabilities	100
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	Dec. 31, 2024	Dec. 31, 2023
Rent commitments
2025	$ 2,082
2026	1,774
2027	1,558
2028	1,495
2029	1,505
Thereafter	4,376
Total undiscounted cash flows	12,790
Less: Amounts representing interest	1,750
Present value of net future minimum lease payments	$ 11,040	$ 11,308

LEASES - Schedule of Revenue Re

LEASES - Schedule of Revenue Recorded in Connection with Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Rental income	$ 820	$ 724	$ 707

LEASES - Schedule of Future Min

LEASES - Schedule of Future Minimum Lease Payments (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Leases [Abstract]
2025	$ 782
2026	603
2027	403
2028	290
2029	109
Thereafter	27
Total lease payments from operating leases	$ 2,214

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS - Narrative (Details)	12 Months Ended
	Dec. 31, 2024 USD ($) segment	Dec. 31, 2023 USD ($)
Goodwill and other intangibles assets
Number of operating segments | segment	3
Goodwill acquired during the period		$ 0
Other intangible assets acquired during the period		$ 0
Merchants and Manufacturers Bank Corporation
Goodwill and other intangibles assets
Goodwill acquired during the period	$ 15,800,000
Other intangible assets acquired during the period	$ 6,300,000

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLE ASSETS - Schedule of Carrying Amount of Goodwill by Operating Segment (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Goodwill and other intangibles assets
Total goodwill	$ 333,695	$ 317,873
Banking
Goodwill and other intangibles assets
Total goodwill	310,595	294,773
Wealth Management
Goodwill and other intangibles assets
Total goodwill	14,108	14,108
FirsTech
Goodwill and other intangibles assets
Total goodwill	$ 8,992	$ 8,992

GOODWILL AND OTHER INTANGIBLE_5

GOODWILL AND OTHER INTANGIBLE ASSETS - Schedule of Other Intangible Asset Disclosures (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Goodwill and other intangibles assets
Intangible assets, gross	$ 138,549	$ 132,203
Accumulated amortization	106,269	96,212
Total estimated amortization expense	32,280	35,991
Core deposit intangible
Goodwill and other intangibles assets
Intangible assets, gross	105,411	99,065
Accumulated amortization	78,831	71,092
Total estimated amortization expense	26,580	27,973
Customer relationship intangible
Goodwill and other intangibles assets
Intangible assets, gross	33,138	33,138
Accumulated amortization	27,438	25,120
Total estimated amortization expense	$ 5,700	$ 8,018

GOODWILL AND OTHER INTANGIBLE_6

GOODWILL AND OTHER INTANGIBLE ASSETS - Schedule of Amortization Expense Relating to Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Goodwill and other intangibles assets
Amortization of intangible assets	$ 10,057	$ 10,432	$ 11,628
Core deposit intangible
Goodwill and other intangibles assets
Amortization of intangible assets	7,739	7,616	8,315
Customer relationship intangible
Goodwill and other intangibles assets
Amortization of intangible assets	$ 2,318	$ 2,816	$ 3,313

GOODWILL AND OTHER INTANGIBLE_7

GOODWILL AND OTHER INTANGIBLE ASSETS - Schedule of Estimated Amortization Expense (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Goodwill and other intangibles assets
2025	$ 8,782
2026	7,514
2027	6,291
2028	5,068
2029	2,079
Thereafter	2,546
Total estimated amortization expense	32,280	$ 35,991
Core deposit intangible
Goodwill and other intangibles assets
2025	6,895
2026	6,035
2027	5,200
2028	4,365
2029	1,719
Thereafter	2,366
Total estimated amortization expense	26,580	27,973
Customer relationship intangible
Goodwill and other intangibles assets
2025	1,887
2026	1,479
2027	1,091
2028	703
2029	360
Thereafter	180
Total estimated amortization expense	$ 5,700	$ 8,018

DEPOSITS - Schedule of Composit

DEPOSITS - Schedule of Composition of Deposits (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Deposits [Abstract]
Noninterest-bearing demand deposits	$ 2,719,907	$ 2,834,655
Interest-bearing transaction deposits	2,423,237	2,717,139
Saving deposits and money market deposits	3,348,711	2,920,088
Time deposits	1,490,635	1,819,274
Total deposits	9,982,490	10,291,156
Brokered savings deposits and money market deposits	6,002	6,001
Brokered time deposits	7,088	285
Total time deposits with a minimum denomination of $100,000	860,193	1,072,189
Total time deposits with a minimum denomination that meets or exceeds the FDIC insurance limit of $250,000	$ 334,503	$ 386,286

DEPOSITS - Schedule of Maturiti

DEPOSITS - Schedule of Maturities of Time Deposits (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Deposits [Abstract]
2025	$ 1,427,748
2026	33,459
2027	14,964
2028	8,178
2029	5,838
Thereafter	448
Time deposits	$ 1,490,635	$ 1,819,274

BORROWINGS - Schedule of Securi

BORROWINGS - Schedule of Securities Sold Under Agreements to Repurchase (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Debt Disclosure [Abstract]
Securities sold under agreements to repurchase	$ 155,610	$ 187,396
Weighted average rate for securities sold under agreements to repurchase	2.63%	3.26%

BORROWINGS - Term Loan and Shor

BORROWINGS - Term Loan and Short-Term Borrowings (Details) - USD ($)			3 Months Ended	12 Months Ended
	Apr. 30, 2022	May 28, 2021	Mar. 31, 2024	Dec. 31, 2024	Dec. 31, 2023
Short-term borrowings
Federal funds purchased				$ 0	$ 0
Minimum
Short-term borrowings
Short-term borrowings, mature period				1 day
Maximum
Short-term borrowings
Short-term borrowings, mature period				90 days
Revolving Credit Facility
Short-term borrowings
Principal balance		$ 40,000,000
Balance outstanding				$ 0
Term Loan
Short-term borrowings
Principal balance		$ 60,000,000
Repayments of long-term debt			$ 30,000,000
Interest rate during epriod			7.13%
Term Loan | One-month LIBOR rate
Short-term borrowings
Floating interest rate margin		1.75%
Term Loan | Secured Overnight Financing Rate (SOFR)
Short-term borrowings
Floating interest rate margin	1.80%

BORROWINGS - Schedule of Short-

BORROWINGS - Schedule of Short-Term borrowings (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Term Loan, current portion due within 12 months
Short-term borrowings
Total short-term debt	$ 0	$ 12,000

BORROWINGS - Schedule of Long-T

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

BORROWINGS - Subordinate Notes

BORROWINGS - Subordinate Notes (Details) - Subordinated Debt - USD ($)	Apr. 01, 2024	Jun. 02, 2022	Jun. 01, 2020	Dec. 31, 2024
5.25% notes maturing June 1, 2030
Junior subordinated debt owed to unconsolidated trusts
Principal balance			$ 125,000,000
Interest rate			5.25%
Duration of fixed interest rate			5 years
Floating interest rate margin			5.11%
5.000% notes maturing June 15, 2032
Junior subordinated debt owed to unconsolidated trusts
Principal balance		$ 100,000,000
Interest rate		5%
Floating interest rate margin		2.52%
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
Junior subordinated debt owed to unconsolidated trusts
Principal balance	$ 4,000,000
Floating interest rate margin	4.97%
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]	Secured Overnight Financing Rate (SOFR)
Fixed to floating interest rate	5.25%
Fair value discount outstanding				$ 100,000

BORROWINGS - Schedule of Unamor

BORROWINGS - Schedule of Unamortized Debt Issuance Cost (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Junior subordinated debt owed to unconsolidated trusts
Total unamortized debt issuance costs	$ 1,226	$ 2,118
Subordinated notes issued in 2020 | Subordinated Debt
Junior subordinated debt owed to unconsolidated trusts
Total unamortized debt issuance costs	222	735
Subordinated notes issued in 2022 | Subordinated Debt
Junior subordinated debt owed to unconsolidated trusts
Total unamortized debt issuance costs	$ 1,004	$ 1,383

JUNIOR SUBORDINATED DEBT OWED_2

JUNIOR SUBORDINATED DEBT OWED TO UNCOLSOLIDATED TRUSTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Junior subordinated debt owed to unconsolidated trusts
Junior subordinated debt owed to unconsolidated trusts	$ 74,815	$ 71,993
Fair value adjustment, remaining balance to be accreted	2,900	2,600
Trust Preferred Securities Subject to Mandatory Redemption
Junior subordinated debt owed to unconsolidated trusts
Maximum of holding companies assets retained	$ 15,000,000
Trust preferred securities qualified as Tier I capital (as a percent)	100%
Junior Subordinated Debt | Trust Preferred Securities Subject to Mandatory Redemption
Junior subordinated debt owed to unconsolidated trusts
Maximum period to defer payment of interest on the notes and, therefore, distributions on the trust preferred securities	5 years
Parent Company
Junior subordinated debt owed to unconsolidated trusts
Junior subordinated debt owed to unconsolidated trusts	$ 74,815	$ 71,993

REGULATORY CAPITAL - Schedule o

REGULATORY CAPITAL - Schedule of Regulatory Capital Requirements Applicable to Busey and Busey Bank (Details) $ in Thousands	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Common Equity Tier 1 Capital to Risk Weighted Assets, Amount
Actual	$ 1,237,301	$ 1,155,973
Minimum Capital Requirement	394,840	397,331
Minimum To Be Well Capitalized	$ 570,325	$ 573,923
Common Equity Tier 1 Capital to Risk Weighted Assets, Ratio
Actual	0.1410	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	$ 1,314,301	$ 1,229,973
Minimum Capital Requirement	526,453	529,775
Minimum To Be Well Capitalized	$ 701,938	$ 706,367
Tier 1 Capital to Risk Weighted Assets, Ratio
Actual	0.1498	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	$ 1,625,943	$ 1,540,318
Minimum Capital Requirement	701,938	706,367
Minimum To Be Well Capitalized	$ 877,422	$ 882,958
Total Capital to Risk Weighted Assets, Ratio
Actual	0.1853	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	$ 1,314,301	$ 1,229,973
Minimum Capital Requirement	$ 475,348	$ 488,315
Leverage Ratio of Tier 1 Capital to Average Assets, Ratio
Actual	0.1106	0.1008
Minimum Capital Requirement	0.0400	0.0400
Busey Bank
Common Equity Tier 1 Capital to Risk Weighted Assets, Amount
Actual	$ 1,438,296	$ 1,362,962
Minimum Capital Requirement	393,277	396,128
Minimum To Be Well Capitalized	$ 568,067	$ 572,185
Common Equity Tier 1 Capital to Risk Weighted Assets, Ratio
Actual	0.1646	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	$ 1,438,296	$ 1,362,962
Minimum Capital Requirement	524,369	528,171
Minimum To Be Well Capitalized	$ 699,159	$ 704,228
Tier 1 Capital to Risk Weighted Assets, Ratio
Actual	0.1646	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	$ 1,520,938	$ 1,448,307
Minimum Capital Requirement	699,159	704,228
Minimum To Be Well Capitalized	$ 873,949	$ 880,285
Total Capital to Risk Weighted Assets, Ratio
Actual	0.1740	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	$ 1,438,296	$ 1,362,962
Minimum Capital Requirement	473,878	487,103
Minimum To Be Well Capitalized	$ 592,347	$ 608,879
Leverage Ratio of Tier 1 Capital to Average Assets, Ratio
Actual	0.1214	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) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Banking and Thrift, Other Disclosure [Abstract]
Busey bank paid dividends to the company, amount received	$ 100	$ 90	$ 95

INCOME TAXES - Schedule of the

INCOME TAXES - Schedule of the Components of Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Current expense:
Federal	$ 26,696	$ 20,139	$ 20,815
State	11,533	14,120	13,883
Deferred expense:
Federal	1,561	(1,557)	(700)
State	(177)	(1,363)	(572)
Income taxes	$ 39,613	$ 31,339	$ 33,426

INCOME TAXES - Schedule of th_2

INCOME TAXES - Schedule of the Reconciliation of Federal and State Income Taxes at Statutory rates to the Income Taxes Included in the Statements of Income (Details)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Income tax at federal statutory rate	21%	21%	21%
Tax-exempt interest, net	(0.70%)	(1.00%)	(1.10%)
Stock incentive	0%	0.20%	0.10%
State income taxes, net	5.80%	6.50%	6.50%
Income on bank owned life insurance	(0.70%)	(0.60%)	(0.50%)
Tax credit investments	(3.10%)	(6.00%)	(5.60%)
Other, net	3.50%	0.30%	0.30%
Effective income tax rate	25.80%	20.40%	20.70%

INCOME TAXES - Schedule of th_3

INCOME TAXES - Schedule of the Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Deferred tax assets:
ACL	$ 23,685	$ 27,068
Unrealized loss on cash flow hedge	7,256	6,654
Unrealized losses on securities available for sale, net	61,479	70,423
Unrealized losses on securities held to maturity	8,068	10,156
Stock-based compensation	6,431	5,767
Purchase accounting adjustments	2,076	764
Accrued vacation	493	456
Lease liabilities	2,951	3,092
Employee costs	5,725	4,789
Unrealized loss on equity securities	0	75
Other	0	67
Total deferred tax assets	118,164	129,311
Deferred tax liabilities:
Basis in premises and equipment	(2,419)	(2,830)
Affordable housing partnerships and other investments	(8,011)	(8,341)
Purchase accounting adjustments	(1,022)	(1,133)
Mortgage servicing assets	(745)	(1,336)
Basis in core deposit, customer intangible assets, and asset purchase goodwill	(3,325)	(4,709)
Deferred loan origination costs	(3,317)	(3,691)
Right of use assets	(2,835)	(3,015)
Unrealized gain on equity securities	(172)	0
Other	(856)	(251)
Total deferred tax liabilities	(22,702)	(25,306)
Net deferred tax asset	$ 95,462	$ 104,005

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Valuation allowance, deferred tax assets	$ 0	$ 0

TAX CREDIT AND OTHER INVESTME_3

TAX CREDIT AND OTHER INVESTMENTS IN UNCONSOLIDATED ENTITIES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated entities	$ 132,006	$ 127,068
Deferred Income Taxes and Other Assets [Abstract]
Income tax credits and other tax benefits	$ 20,734
Investment Program, Proportional Amortization Method, Applied, Amortization Expense, Statement of Cash Flows [Extensible Enumeration]	Amortization of intangible assets
Investment Program, Proportional Amortization Method, Applied, Amortization Expense, Statement of Income or Comprehensive Income [Extensible Enumeration]	Amortization of intangible assets
Amortization of investments in tax-advantaged projects	$ 18,494
Funded investments | Other assets
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated entities	70,796	68,516
Unfunded investments | Other assets
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated entities	61,210	58,552
Unfunded investments | Other liabilities
Schedule of Equity Method Investments [Line Items]
Unfunded investment obligations	$ 61,210	$ 58,552

EMPLOYEE BENEFIT PLANS - Narrat

EMPLOYEE BENEFIT PLANS - Narrative (Details)	12 Months Ended
	Dec. 31, 2024
Employee Benefit Plans
Employer matching contribution, percent of match	100%
Employer matching contribution, percent of employees' gross pay	3%
Employer matching contribution, percent of next match	50%
Employer next matching contribution, percent of employees' gross pay	2%
Vesting period	5 years

EMPLOYEE BENEFIT PLANS - Schedu

EMPLOYEE BENEFIT PLANS - Schedule of Expenses Related to the Employee Benefit Plans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
401(k) Plan expenses
Total 401(k) Plan expenses	$ 7,856	$ 6,776	$ 7,054
Safe harbor match expenses
401(k) Plan expenses
Total 401(k) Plan expenses	4,486	3,745	4,094
Profit-sharing expenses
401(k) Plan expenses
Total 401(k) Plan expenses	$ 3,370	$ 3,031	$ 2,960

STOCK-BASED COMPENSATION - Sche

STOCK-BASED COMPENSATION - Schedule of Changes in, the Company's Stock Option Awards (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Shares
Outstanding at beginning of year (in shares)	21,266
Exercised (in shares)	2,640
Forfeited (in shares)	(3,520)
Outstanding at end of year (in shares)	15,106	21,266
Exercisable at end of year (in shares)	15,106
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
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Additional Disclosures [Abstract]
Weighted-average remaining contractual life, options outstanding	1 year 10 months 13 days	2 years 10 months 17 days
Weighted-average remaining contractual life, exercisable at end of year	1 year 10 months 13 days
Intrinsic value, options outstanding	$ 1	$ 27
Intrinsic value, exercisable at end of year	$ 1

STOCK-BASED COMPENSATION - 2020

STOCK-BASED COMPENSATION - 2020 Equity Plan Narrative (Details) - 2020 Equity Plan - shares		12 Months Ended
	Apr. 14, 2023	Dec. 31, 2024
Share-based Compensation
Increase in the number of shares authorized for issuance (in shares)	1,350,000
Net issuance of treasury stock for RSU/PSU/DSU vesting and related tax (in shares)		163,387
Remaining shares available for issuance (in shares)		1,326,314

STOCK-BASED COMPENSATION - RSU,

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

STOCK-BASED COMPENSATION - Sc_2

STOCK-BASED COMPENSATION - Schedule of changes in the Company's RSU, PSU, and DSU awards (Details)	12 Months Ended
	Dec. 31, 2024 $ / shares shares
RSU awards
Shares
Non-vested at beginning of period (in shares) | shares	1,041,444
Granted (in shares) | shares	202,043
Dividend equivalents earned (in shares) | shares	42,986
Vested (in shares) | shares	(187,446)
Forfeited (in shares) | shares	(32,255)
Non-vested at end of period (in shares) | shares	1,066,772
Weighted- Average Grant Date Fair Value
Non-vested at beginning of period (in dollars per share) | $ / shares	$ 22.05
Granted (in dollars per share) | $ / shares	23.35
Dividend equivalents earned (in dollars per share) | $ / shares	24.74
Vested (in dollars per share) | $ / shares	25.38
Forfeited (in dollars per share) | $ / shares	22.48
Non-vested at end of period (in dollars per share) | $ / shares	$ 21.80
PSU awards
Shares
Non-vested at beginning of period (in shares) | shares	341,700
Granted (in shares) | shares	189,208
Dividend equivalents earned (in shares) | shares	4,264
Vested (in shares) | shares	(147,397)
Forfeited (in shares) | shares	(15,733)
Non-vested at end of period (in shares) | shares	372,042
Vested and outstanding at end of period (in shares) | shares	143,133
Weighted- Average Grant Date Fair Value
Non-vested at beginning of period (in dollars per share) | $ / shares	$ 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	26.07
Forfeited (in dollars per share) | $ / shares	22.47
Non-vested at end of period (in dollars per share) | $ / shares	21.15
Vested and outstanding at end of period (in dollars per share) | $ / shares	$ 26.17
DSU awards
Shares
Non-vested at beginning of period (in shares) | shares	43,026
Granted (in shares) | shares	35,847
Dividend equivalents earned (in shares) | shares	8,213
Vested (in shares) | shares	(49,168)
Forfeited (in shares) | shares	(1,025)
Non-vested at end of period (in shares) | shares	36,893
Vested and outstanding at end of period (in shares) | shares	184,941
Weighted- Average Grant Date Fair Value
Non-vested at beginning of period (in dollars per share) | $ / shares	$ 20.41
Granted (in dollars per share) | $ / shares	23.35
Dividend equivalents earned (in dollars per share) | $ / shares	24.79
Vested (in dollars per share) | $ / shares	21.04
Forfeited (in dollars per share) | $ / shares	20.44
Non-vested at end of period (in dollars per share) | $ / shares	23.40
Vested and outstanding at end of period (in dollars per share) | $ / shares	$ 22.85

STOCK-BASED COMPENSATION - 2021

STOCK-BASED COMPENSATION - 2021 Employee Stock Purchase Plan and Stock-Based Compensation Expense (Details) - USD ($)		12 Months Ended
	Jul. 01, 2021	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation
Compensation expense recognized		$ 7,726,000	$ 6,595,000	$ 8,968,000
Stock options
Share-based Compensation
Compensation expense recognized		0	$ 0	$ 0
Unrecognized stock-based compensation expense		$ 0
Employee Stock Purchase Plan
Share-based Compensation
Discount through voluntary payroll deductions (as percentage)	15%
Remaining shares available for issuance (in shares)	600,000	393,536

STOCK-BASED COMPENSATION - Sc_3

STOCK-BASED COMPENSATION - Schedule of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation
Total stock-based compensation expense	$ 7,726	$ 6,595	$ 8,968
RSU awards
Share-based Compensation
Total stock-based compensation expense	3,823	2,622	4,648
PSU awards
Share-based Compensation
Total stock-based compensation expense	2,867	2,962	3,240
DSU awards
Share-based Compensation
Total stock-based compensation expense	826	833	876
ESPP
Share-based Compensation
Total stock-based compensation expense	$ 210	$ 178	$ 204

STOCK-BASED COMPENSATION - Sc_4

STOCK-BASED COMPENSATION - Schedule of Unamortized Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Share-based Compensation
Total unamortized stock-based compensation	$ 10,317	$ 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
Total unamortized stock-based compensation	$ 7,093	$ 6,842
PSU awards
Share-based Compensation
Total unamortized stock-based compensation	3,043	3,607
DSU awards
Share-based Compensation
Total unamortized stock-based compensation	$ 181	$ 190

TRANSACTIONS WITH RELATED PAR_3

TRANSACTIONS WITH RELATED PARTIES (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($)
Analysis of the changes in loans to related parties
Balance at beginning of year	$ 77,649
Change in relationship	1,435
New loans/advances	178,924
Repayments	(159,997)
Balance at end of year	98,011
Directors and executive officers
Analysis of the changes in loans to related parties
Total unused commitments	$ 26,383

OUTSTANDING COMMITMENTS AND C_3

OUTSTANDING COMMITMENTS AND CONTINGENT LIABILITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Credit Commitments and Contingencies
Total commitments	$ 2,548,178	$ 2,176,496
Commitments to extend credit
Credit Commitments and Contingencies
Total commitments	2,512,714	2,132,500
Standby letters of credit
Credit Commitments and Contingencies
Total commitments	$ 35,464	$ 43,996

DERIVATIVE FINANCIAL INSTRUME_3

DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of Financial Instruments Owned and Pledged as Collateral (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Cash pledged to secure obligations under derivative contracts
Derivative Financial Instruments
Cash pledged to secure obligations	$ 21,900	$ 34,210
Collateral held to secure obligations under derivative contracts
Derivative Financial Instruments
Cash pledged to secure obligations	$ 20,260	$ 19,280

DERIVATIVE FINANCIAL INSTRUME_4

DERIVATIVE FINANCIAL INSTRUMENTS - Narrative (Details) - Cash pledged to secure obligations under derivative contracts - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Designated as Hedging Instrument
Derivative Financial Instruments
Notional amount	$ 300
Designated as Hedging Instrument | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Derivative Financial Instruments
Notional amount	200
Not Designated as Hedging Instrument
Derivative Financial Instruments
Variable rate, commercial loans that are supported by the interest rate swap contracts	719.2	$ 663.1
Cash Flow Hedging
Derivative Financial Instruments
Notional amount	$ 500	$ 350

DERIVATIVE FINANCIAL INSTRUME_5

DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of the Interest-Rate Swaps Designated as Cash Flow Hedges (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash pledged to secure obligations under derivative contracts
Balances carried in AOCI
Unrealized gains (losses) on cash flow hedges, net of tax	$ 0	$ 0	$ 0
Cash Flow Hedging | Cash pledged to secure obligations under derivative contracts
Derivative Financial Instruments
Notional amount	500,000	350,000
Balances carried in AOCI
Unrealized gains (losses) on cash flow hedges, net of tax	(19,805)	(16,694)
Cash Flow Hedging | Cash pledged to secure obligations under derivative contracts | Other assets
Gross aggregate fair value of the swaps
Gross aggregate fair value of swap assets	0	1,293
Cash Flow Hedging | Cash pledged to secure obligations under derivative contracts | Other liabilities
Gross aggregate fair value of the swaps
Gross aggregate fair value of swap liabilities	27,770	25,411
Cash Flow Hedging | Debt Swap
Derivative Financial Instruments
Notional amount	$ 0	$ 50,000
Weighted average rate: pay/ receive-fixed	0%	1.79%
Weighted average variable interest rates	0%	5.61%
Weighted average maturity		8 months 15 days
Cash Flow Hedging | Prime Loan Swap
Derivative Financial Instruments
Notional amount	$ 300,000	$ 300,000
Weighted average rate: pay/ receive-fixed	4.81%	4.81%
Weighted average variable interest rates	7.62%	8.50%
Weighted average maturity	4 years 1 month 6 days	5 years 1 month 6 days
Cash Flow Hedging | SOFR Loan Swaps
Derivative Financial Instruments
Notional amount	$ 200,000	$ 0
Weighted average rate: pay/ receive-fixed	3.78%	0%
Weighted average maturity	4 years 9 months 3 days

DERIVATIVE FINANCIAL INSTRUME_6

DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of Reclassification of Unrealized Gains and Losses from OCI (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($)
Cash pledged to secure obligations under derivative contracts | Cash Flow Hedging | Unrealized losses expected to be reclassified from OCI to interest income
Derivative Financial Instruments
Net unrealized gains (losses) in OCI expected to be recognized in net interest income	$ (725)

DERIVATIVE FINANCIAL INSTRUME_7

DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of Interest Income (Expense) Recorded on Swap Transactions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Derivative Financial Instruments
Net interest income	$ 322,611	$ 320,621	$ 323,628
Cash pledged to secure obligations under derivative contracts | Cash Flow Hedging
Derivative Financial Instruments
Increase (decrease) in interest income on swap transactions	(10,669)	(10,326)	(553)
(Increase) decrease in interest expense on swap transactions	1,378	1,757	(30)
Net interest income	$ (9,291)	$ (8,569)	$ (583)

DERIVATIVE FINANCIAL INSTRUME_8

DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of Net Gains (Losses) Recorded in AOCI (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Derivative Financial Instruments
Net gain (loss) recognized in OCI, net of tax	$ (13,055)	$ (2,567)	$ (28,975)
Cash Flow Hedging | Collateral held to secure obligations under derivative contracts
Derivative Financial Instruments
Net gain (loss) recognized in OCI, net of tax	(10,790)	(1,835)	(20,717)
(Gain) loss reclassified from OCI to interest income, net of tax	8,818	7,382	395
(Gain) loss reclassified from OCI to interest expense, net of tax	(1,139)	(1,256)	22
Net change in unrealized gains (losses) on cash flow hedges, net of tax	$ (3,111)	$ 4,291	$ (20,300)

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	Dec. 31, 2024	Dec. 31, 2023
Cash pledged to secure obligations under derivative contracts
Derivative assets not designated as hedging instruments
Notional Amount	$ 719,236	$ 663,136
Fair Value	30,319	28,664
Derivative liabilities not designated as hedging instruments
Notional Amount	719,236	663,136
Fair Value	30,319	28,664
Interest rate swaps - pay floating, receive fixed
Derivative assets not designated as hedging instruments
Notional Amount	156,539	177,883
Fair Value	1,465	2,375
Derivative liabilities not designated as hedging instruments
Notional Amount	562,697	485,253
Fair Value	28,854	26,289
Interest rate swaps - pay fixed, receive floating
Derivative assets not designated as hedging instruments
Notional Amount	562,697	485,253
Fair Value	28,854	26,289
Derivative liabilities not designated as hedging instruments
Notional Amount	156,539	177,883
Fair Value	$ 1,465	$ 2,375

DERIVATIVE FINANCIAL INSTRUM_10

DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of Interest Rate Swaps Recorded in Noninterest Expense (Details) - Cash pledged to secure obligations under derivative contracts - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Derivative Financial Instruments
Net change in fair value of interest rate swaps	$ 0	$ 0	$ 0
Noninterest expense
Derivative Financial Instruments
Gain (loss), receive-fixed, pay-floating	1,726	(11,525)	19,308
Gain (loss), receive-floating, pay-fixed	$ (1,726)	$ 11,525	$ (19,308)

DERIVATIVE FINANCIAL INSTRUM_11

DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of Risk Participation Agreement (Details) $ in Thousands	Dec. 31, 2024 USD ($) agreement	Dec. 31, 2023 USD ($) agreement
Risk participation agreements purchased
Derivative Financial Instruments
Number of risk participation agreements | agreement	5	3
Notional amount	$ 40,092	$ 34,251
Fair value	$ 5	$ 15
Risk participation agreements sold
Derivative Financial Instruments
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	Dec. 31, 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	$ 2,430	$ 3,477
Fair value recorded in other assets	28	25
Mortgage banking derivative liabilities
Notional Amount	436	1,615
Fair value recorded in other liabilities	4	10
Forward sales commitments
Mortgage banking derivative assets
Notional Amount	3,457	1,761
Fair value recorded in other assets	21	11
Mortgage banking derivative liabilities
Notional Amount	1,955	5,216
Fair value recorded in other liabilities	6	47
Mortgage banking derivative assets | Designated as Hedging Instrument
Mortgage banking derivative assets
Notional Amount	5,887	5,238
Fair value recorded in other assets	49	36
Mortgage banking derivative liabilities
Notional Amount	2,391	6,831
Fair value recorded in other liabilities	$ 10	$ 57

DERIVATIVE FINANCIAL INSTRUM_13

DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of Net Gains (Losses) Relating to Derivative Instruments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Derivative Financial Instruments
Derivative, gain (loss), statement of income or comprehensive income [Extensible Enumeration]	Mortgage revenue	Mortgage revenue	Mortgage revenue
Designated as Hedging Instrument
Derivative Financial Instruments
Net gains (losses) on mortgage banking derivatives	$ 438	$ 2	$ (23)
Interest rate lock commitments | Designated as Hedging Instrument
Derivative Financial Instruments
Net gains (losses) on mortgage banking derivatives	585	0	15
Forward sales commitments | Designated as Hedging Instrument
Derivative Financial Instruments
Net gains (losses) on mortgage banking derivatives	$ (147)	$ 2	$ (38)

FAIR VALUE MEASUREMENTS - Sched

FAIR VALUE MEASUREMENTS - Schedule of Financial Assets and Financial Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Financial assets and financial liabilities measured at fair value
Fair Value	$ 1,810,221	$ 2,087,571
Equity securities	15,862	9,812
Obligations of U.S. government corporations and agencies
Financial assets and financial liabilities measured at fair value
Fair Value	1,400	5,832
U.S. Treasury securities
Financial assets and financial liabilities measured at fair value
Fair Value		15,946
Obligations of states and political subdivisions
Financial assets and financial liabilities measured at fair value
Fair Value	139,829	172,845
Asset-backed securities
Financial assets and financial liabilities measured at fair value
Fair Value	336,557	468,223
Commercial mortgage-backed securities
Financial assets and financial liabilities measured at fair value
Fair Value	92,174	103,509
Residential mortgage-backed securities
Financial assets and financial liabilities measured at fair value
Fair Value	1,087,210	1,111,312
Corporate debt securities
Financial assets and financial liabilities measured at fair value
Fair Value	153,051	209,904
Fair Value, Recurring | Derivative assets
Financial assets and financial liabilities measured at fair value
Derivative assets	30,373	30,008
Fair Value, Recurring | Derivative liabilities
Financial assets and financial liabilities measured at fair value
Derivative liabilities	58,099	54,132
Fair Value, Recurring | Obligations of U.S. government corporations and agencies
Financial assets and financial liabilities measured at fair value
Fair Value	1,400	5,832
Fair Value, Recurring | U.S. Treasury securities
Financial assets and financial liabilities measured at fair value
Fair Value		15,946
Fair Value, Recurring | Obligations of states and political subdivisions
Financial assets and financial liabilities measured at fair value
Fair Value	139,829	172,845
Fair Value, Recurring | Asset-backed securities
Financial assets and financial liabilities measured at fair value
Fair Value	336,557	468,223
Fair Value, Recurring | Commercial mortgage-backed securities
Financial assets and financial liabilities measured at fair value
Fair Value	92,174	103,509
Fair Value, Recurring | Residential mortgage-backed securities
Financial assets and financial liabilities measured at fair value
Fair Value	1,087,210	1,111,312
Fair Value, Recurring | Corporate debt securities
Financial assets and financial liabilities measured at fair value
Fair Value	153,051	209,904
Fair Value, Recurring | Equity securities
Financial assets and financial liabilities measured at fair value
Equity securities	15,862	9,812
Fair Value, Recurring | Level 1 Inputs | Derivative assets
Financial assets and financial liabilities measured at fair value
Derivative assets	0	0
Fair Value, Recurring | Level 1 Inputs | Derivative liabilities
Financial assets and financial liabilities measured at fair value
Derivative liabilities	0	0
Fair Value, Recurring | Level 1 Inputs | Obligations of U.S. government corporations and agencies
Financial assets and financial liabilities measured at fair value
Fair Value	0	0
Fair Value, Recurring | Level 1 Inputs | U.S. Treasury securities
Financial assets and financial liabilities measured at fair value
Fair Value		0
Fair Value, Recurring | Level 1 Inputs | Obligations of states and political subdivisions
Financial assets and financial liabilities measured at fair value
Fair Value	0	0
Fair Value, Recurring | Level 1 Inputs | Asset-backed securities
Financial assets and financial liabilities measured at fair value
Fair Value	0	0
Fair Value, Recurring | Level 1 Inputs | Commercial mortgage-backed securities
Financial assets and financial liabilities measured at fair value
Fair Value	0	0
Fair Value, Recurring | Level 1 Inputs | Residential mortgage-backed securities
Financial assets and financial liabilities measured at fair value
Fair Value	0	0
Fair Value, Recurring | Level 1 Inputs | Corporate debt securities
Financial assets and financial liabilities measured at fair value
Fair Value	0	0
Fair Value, Recurring | Level 1 Inputs | Equity securities
Financial assets and financial liabilities measured at fair value
Equity securities	5,567	448
Fair Value, Recurring | Level 2 Inputs | Derivative assets
Financial assets and financial liabilities measured at fair value
Derivative assets	30,368	29,993
Fair Value, Recurring | Level 2 Inputs | Derivative liabilities
Financial assets and financial liabilities measured at fair value
Derivative liabilities	58,099	54,132
Fair Value, Recurring | Level 2 Inputs | Obligations of U.S. government corporations and agencies
Financial assets and financial liabilities measured at fair value
Fair Value	1,400	5,832
Fair Value, Recurring | Level 2 Inputs | U.S. Treasury securities
Financial assets and financial liabilities measured at fair value
Fair Value		15,946
Fair Value, Recurring | Level 2 Inputs | Obligations of states and political subdivisions
Financial assets and financial liabilities measured at fair value
Fair Value	139,829	172,845
Fair Value, Recurring | Level 2 Inputs | Asset-backed securities
Financial assets and financial liabilities measured at fair value
Fair Value	336,557	468,223
Fair Value, Recurring | Level 2 Inputs | Commercial mortgage-backed securities
Financial assets and financial liabilities measured at fair value
Fair Value	92,174	103,509
Fair Value, Recurring | Level 2 Inputs | Residential mortgage-backed securities
Financial assets and financial liabilities measured at fair value
Fair Value	1,087,210	1,111,312
Fair Value, Recurring | Level 2 Inputs | Corporate debt securities
Financial assets and financial liabilities measured at fair value
Fair Value	153,051	209,904
Fair Value, Recurring | Level 2 Inputs | Equity securities
Financial assets and financial liabilities measured at fair value
Equity securities	10,295	9,364
Fair Value, Recurring | Level 3 Inputs | Derivative assets
Financial assets and financial liabilities measured at fair value
Derivative assets	5	15
Fair Value, Recurring | Level 3 Inputs | Derivative liabilities
Financial assets and financial liabilities measured at fair value
Derivative liabilities	0	0
Fair Value, Recurring | Level 3 Inputs | Obligations of U.S. government corporations and agencies
Financial assets and financial liabilities measured at fair value
Fair Value	0	0
Fair Value, Recurring | Level 3 Inputs | U.S. Treasury securities
Financial assets and financial liabilities measured at fair value
Fair Value		0
Fair Value, Recurring | Level 3 Inputs | Obligations of states and political subdivisions
Financial assets and financial liabilities measured at fair value
Fair Value	0	0
Fair Value, Recurring | Level 3 Inputs | Asset-backed securities
Financial assets and financial liabilities measured at fair value
Fair Value	0	0
Fair Value, Recurring | Level 3 Inputs | Commercial mortgage-backed securities
Financial assets and financial liabilities measured at fair value
Fair Value	0	0
Fair Value, Recurring | Level 3 Inputs | Residential mortgage-backed securities
Financial assets and financial liabilities measured at fair value
Fair Value	0	0
Fair Value, Recurring | Level 3 Inputs | Corporate debt securities
Financial assets and financial liabilities measured at fair value
Fair Value	0	0
Fair Value, Recurring | Level 3 Inputs | Equity securities
Financial assets and financial liabilities measured at fair value
Equity securities	$ 0	$ 0

FAIR VALUE MEASUREMENTS - Sch_2

FAIR VALUE MEASUREMENTS - Schedule of Activity for Financial Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
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
Fair Value, Recurring | Level 3 Inputs
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	$ 15	$ 5
Gains (losses) recognized in earnings	(26)	(60)
Purchases	16	70
Ending Balance	$ 5	$ 15	$ 5

FAIR VALUE MEASUREMENTS - Sch_3

FAIR VALUE MEASUREMENTS - Schedule of Activity for Financial Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans evaluated individually, net of related allowance	$ 9,172	$ 9,948
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	2,841	4,286
Fair Value, Nonrecurring | Level 1 Inputs
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
Fair Value, Nonrecurring | Level 2 Inputs
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
Fair Value, Nonrecurring | Level 3 Inputs
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	$ 2,841	$ 4,286

FAIR VALUE MEASUREMENTS - Sch_4

FAIR VALUE MEASUREMENTS - Schedule of Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Fair Value
Loans evaluated individually, net of related allowance	$ 9,172	$ 9,948
Fair Value, Nonrecurring
Fair Value
Loans evaluated individually, net of related allowance	616	1,000
Bank property held for sale with impairment	2,841	4,286
Level 3 Inputs | Fair Value, Nonrecurring
Fair Value
Loans evaluated individually, net of related allowance	616	1,000
Bank property held for sale with impairment	2,841	4,286
Level 3 Inputs | Fair Value, Nonrecurring | Appraisal of collateral
Fair Value
Loans evaluated individually, net of related allowance	$ 616	$ 1,000
Level 3 Inputs | Fair Value, Nonrecurring | Appraisal of collateral | Minimum | Measurement Input, Comparability Adjustment
Range (Weighted Average)
Loans evaluated individually, net of related allowance	(0.250)	(0.412)
Level 3 Inputs | Fair Value, Nonrecurring | Appraisal of collateral | Maximum | Measurement Input, Comparability Adjustment
Range (Weighted Average)
Loans evaluated individually, net of related allowance	(1)	(1)
Level 3 Inputs | Fair Value, Nonrecurring | Appraisal of collateral | Weighted Average | Measurement Input, Comparability Adjustment
Range (Weighted Average)
Loans evaluated individually, net of related allowance	(0.749)	(0.472)
Level 3 Inputs | Fair Value, Nonrecurring | Appraisal of collateral or real estate listing price
Fair Value
Bank property held for sale with impairment	$ 2,841	$ 4,286
Level 3 Inputs | Fair Value, Nonrecurring | Appraisal of collateral or real estate listing price | Minimum | Measurement Input, Comparability Adjustment
Range (Weighted Average)
Bank property held for sale with impairment	(0.090)	(0.062)
Level 3 Inputs | Fair Value, Nonrecurring | Appraisal of collateral or real estate listing price | Maximum | Measurement Input, Comparability Adjustment
Range (Weighted Average)
Bank property held for sale with impairment	(0.767)	(0.649)
Level 3 Inputs | Fair Value, Nonrecurring | Appraisal of collateral or real estate listing price | Weighted Average | Measurement Input, Comparability Adjustment
Range (Weighted Average)
Bank property held for sale with impairment	(0.518)	(0.384)

FAIR VALUE MEASUREMENTS - Sch_5

FAIR VALUE MEASUREMENTS - Schedule of Estimated Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Financial assets
Debt securities held to maturity	$ 675,053	$ 730,397
Restricted bank stock	49,930	6,000
Portfolio loans, net	7,613,683	7,559,294
Mortgage servicing rights	582,500	1,490,000
Financial liabilities
Short-term borrowings	0	12,000
Junior subordinated debt owed to unconsolidated trusts	74,815	71,993
Level 1 Inputs | Carrying Amount
Financial assets
Cash and cash equivalents	697,659	719,581
Level 1 Inputs | Fair Value
Financial assets
Cash and cash equivalents	697,659	719,581
Level 2 Inputs | Carrying Amount
Financial assets
Debt securities held to maturity	826,630	872,628
Loans held for sale	3,657	2,379
Restricted bank stock	49,930	6,000
Accrued interest receivable	45,141	45,288
Financial liabilities
Time deposits	1,490,635	1,819,274
Securities sold under agreements to repurchase	155,610	187,396
Short-term borrowings	0	12,000
Long-term debt	0	18,000
Junior subordinated debt owed to unconsolidated trusts	74,815	71,993
Accrued interest payable	21,129	28,418
Level 2 Inputs | Fair Value
Financial assets
Debt securities held to maturity	675,053	730,397
Loans held for sale	3,726	2,401
Restricted bank stock	49,930	6,000
Accrued interest receivable	45,141	45,288
Financial liabilities
Time deposits	1,481,591	1,804,905
Securities sold under agreements to repurchase	155,610	187,396
Short-term borrowings	0	12,034
Long-term debt	0	18,020
Junior subordinated debt owed to unconsolidated trusts	67,314	57,153
Accrued interest payable	21,129	28,418
Level 3 Inputs | Carrying Amount
Financial assets
Portfolio loans, net	7,613,683	7,559,294
Mortgage servicing rights	1,304	3,289
Other servicing rights	1,482	1,597
Level 3 Inputs | Carrying Amount | Subordinated Debt
Financial liabilities
Long-term debt	227,723	222,882
Level 3 Inputs | Fair Value
Financial assets
Portfolio loans, net	7,426,158	7,276,905
Mortgage servicing rights	5,627	18,079
Other servicing rights	1,591	2,062
Level 3 Inputs | Fair Value | Subordinated Debt
Financial liabilities
Long-term debt	$ 219,043	$ 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	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Net income per share calculations for basic and diluted methods
Net income	$ 113,691	$ 122,565	$ 128,311
Weighted Average Shares Outstanding
Weighted average number of common shares outstanding, basic (in shares)	56,610,032	55,432,322	55,387,073
Weighted average number of common shares outstanding, diluted (in shares)	57,543,001	56,256,148	56,137,164
Basic earnings per common share (in dollars per share)	$ 2.01	$ 2.21	$ 2.32
Diluted earnings per common share (in dollars per share)	$ 1.98	$ 2.18	$ 2.29
Options
Weighted Average Shares Outstanding
Dilutive effect of common stock equivalents (in shares)	753	0	1,632
Warrants
Weighted Average Shares Outstanding
Dilutive effect of common stock equivalents (in shares)	0	324	1,753
RSU awards
Weighted Average Shares Outstanding
Dilutive effect of common stock equivalents (in shares)	662,341	647,217	665,998
PSU awards
Weighted Average Shares Outstanding
Dilutive effect of common stock equivalents (in shares)	243,166	151,190	58,206
DSU awards
Weighted Average Shares Outstanding
Dilutive effect of common stock equivalents (in shares)	19,956	18,154	15,532
ESPP
Weighted Average Shares Outstanding
Dilutive effect of common stock equivalents (in shares)	6,753	6,941	6,970

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	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Anti-dilutive securities excluded from the calculation of common stock equivalents
Total anti-dilutive common stock equivalents (in shares)	153,741	168,381	235,704
Options
Anti-dilutive securities excluded from the calculation of common stock equivalents
Total anti-dilutive common stock equivalents (in shares)	9,588	21,981	7,792
RSU awards
Anti-dilutive securities excluded from the calculation of common stock equivalents
Total anti-dilutive common stock equivalents (in shares)	3,216	39,445	38,912
PSU awards
Anti-dilutive securities excluded from the calculation of common stock equivalents
Total anti-dilutive common stock equivalents (in shares)	140,937	106,955	189,000

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 1,271,981	$ 1,145,977	$ 1,319,112
Ending balance	1,383,269	1,271,981	1,145,977
Total
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(218,803)	(273,278)	(23,758)
Ending balance	(207,039)	(218,803)	(273,278)
Unrealized Gains (Losses) on Debt Securities Available For Sale and Unrealized Gains (Losses) on Cash Flow Hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Unrealized gains (losses), net	(4,281)	39,989	(220,019)
Amounts reclassified from AOCI, net	12,126	10,060	398
Unrealized Gains (Losses) on Debt Securities Available For Sale
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(176,636)	(222,394)	(23,073)
Unrealized gains (losses), net	6,509	41,824	(199,302)
Amounts reclassified from AOCI, net	4,447	3,934	(19)
Ending balance	(165,680)	(176,636)	(222,394)
Unrealized Gains (Losses) on Cash Flow Hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(16,694)	(20,985)	(685)
Unrealized gains (losses), net	(10,790)	(1,835)	(20,717)
Amounts reclassified from AOCI, net	7,679	6,126	417
Ending balance	(19,805)	(16,694)	(20,985)
Unrecognized Gains (Losses) on Debt Securities Held to Maturity
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(25,473)	(29,899)	0
Unrealized gains (losses), net	0	0	(34,644)
Amounts reclassified from AOCI, net	3,919	4,426	4,745
Ending balance	$ (21,554)	$ (25,473)	$ (29,899)

OPERATING SEGMENTS AND RELATE_3

OPERATING SEGMENTS AND RELATED INFORMATION - Narrative (Details)	12 Months Ended
	Dec. 31, 2024 segment bankingCenter
Segment Reporting [Abstract]
Number of reportable segments | segment	3
Number of banking centers consolidated | bankingCenter	62

OPERATING SEGMENTS AND RELATE_4

OPERATING SEGMENTS AND RELATED INFORMATION - Schedule of Goodwill and Total Assets of Segments (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Goodwill	$ 333,695	$ 317,873
Total assets	12,046,722	12,283,415
Banking
Segment Reporting Information [Line Items]
Goodwill	310,595	294,773
Wealth Management
Segment Reporting Information [Line Items]
Goodwill	14,108	14,108
FirsTech
Segment Reporting Information [Line Items]
Goodwill	8,992	8,992
Operating Segments | Banking
Segment Reporting Information [Line Items]
Goodwill	310,595	294,773
Total assets	11,856,651	12,125,298
Operating Segments | Wealth Management
Segment Reporting Information [Line Items]
Goodwill	14,108	14,108
Total assets	126,180	103,147
Operating Segments | FirsTech
Segment Reporting Information [Line Items]
Goodwill	8,992	8,992
Total assets	57,737	51,600
Other
Segment Reporting Information [Line Items]
Goodwill	0	0
Total assets	$ 6,154	$ 3,370

OPERATING SEGMENTS AND RELATE_5

OPERATING SEGMENTS AND RELATED INFORMATION - Schedule of Financial Results by Operating Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Interest income	$ 523,681	$ 480,543	$ 360,176
Intersegment interest income	0	0	0
Interest expense	201,070	159,922	36,548
Intersegment interest expense	0	0	0
Net interest income	322,611	320,621	323,628
Provision for credit losses	8,590	2,399	4,623
Net interest income after provision for credit losses	314,021	318,222	319,005
Noninterest income
All other noninterest income	23,136	13,669	18,057
Intersegment noninterest income	0	0	0
Total noninterest income	139,682	121,214	126,613
Revenue	462,293	441,835	450,241
Noninterest expense
Salaries, wages, and employee benefits	175,619	162,597	159,016
Data processing	27,124	23,708	21,648
Amortization of intangible assets	10,057	10,432	11,628
Interchange expense	6,001	6,864	6,298
Other noninterest expense	81,598	81,931	85,291
Intersegment noninterest expense	0	0	0
Total noninterest expense	300,399	285,532	283,881
Income (loss) before income taxes	153,304	153,904	161,737
Income taxes	39,613	31,339	33,426
Net income	113,691	122,565	128,311
Wealth management fees
Noninterest income
Noninterest income	63,630	57,309	55,378
Fees for customer services
Noninterest income
Noninterest income	30,933	29,044	33,111
Payment technology solutions
Noninterest income
Noninterest income	21,983	21,192	20,067
Other
Segment Reporting Information [Line Items]
Interest income	33	105	50
Intersegment interest income	(372)	(54)	(65)
Interest expense	17,944	19,005	17,854
Intersegment interest expense	(2,664)	(3,006)	(1,159)
Net interest income	(15,619)	(15,948)	(16,710)
Provision for credit losses	0	0	0
Net interest income after provision for credit losses	(15,619)	(15,948)	(16,710)
Noninterest income
All other noninterest income	942	(2,182)	(1,846)
Intersegment noninterest income	(2,473)	(2,703)	(2,618)
Total noninterest income	(1,531)	(4,885)	(4,464)
Revenue	(17,150)	(20,833)	(21,174)
Noninterest expense
Salaries, wages, and employee benefits	21,128	17,767	20,965
Data processing	538	541	545
Amortization of intangible assets	0	0	0
Interchange expense	0	0	0
Other noninterest expense	9,593	6,015	6,739
Intersegment noninterest expense	(15,996)	(16,976)	(18,528)
Total noninterest expense	15,263	7,347	9,721
Income (loss) before income taxes	(32,413)	(28,180)	(30,895)
Income taxes	(7,478)	(7,258)	(8,220)
Net income	(24,935)	(20,922)	(22,675)
Other | Wealth management fees
Noninterest income
Noninterest income	0	0	0
Other | Fees for customer services
Noninterest income
Noninterest income	0	0	0
Other | Payment technology solutions
Noninterest income
Noninterest income	0	0	0
Banking | Operating Segments
Segment Reporting Information [Line Items]
Interest income	523,648	480,438	360,126
Intersegment interest income	324	0	0
Interest expense	183,126	140,917	18,694
Intersegment interest expense	2,664	3,006	1,159
Net interest income	338,182	336,515	340,273
Provision for credit losses	8,590	2,399	4,623
Net interest income after provision for credit losses	329,592	334,116	335,650
Noninterest income
All other noninterest income	20,871	15,337	19,890
Intersegment noninterest income	1,402	1,149	962
Total noninterest income	53,206	45,530	53,963
Revenue	391,388	382,045	394,236
Noninterest expense
Salaries, wages, and employee benefits	117,730	111,834	107,159
Data processing	20,631	18,217	16,420
Amortization of intangible assets	8,916	8,963	9,831
Interchange expense	0	0	0
Other noninterest expense	66,433	71,259	73,544
Intersegment noninterest expense	11,457	13,178	15,042
Total noninterest expense	225,167	223,451	221,996
Income (loss) before income taxes	157,631	156,195	167,617
Income taxes	40,365	32,342	36,021
Net income	117,266	123,853	131,596
Banking | Operating Segments | Wealth management fees
Noninterest income
Noninterest income	0	0	0
Banking | Operating Segments | Fees for customer services
Noninterest income
Noninterest income	30,933	29,044	33,111
Banking | Operating Segments | Payment technology solutions
Noninterest income
Noninterest income	0	0	0
Wealth Management | Operating Segments
Segment Reporting Information [Line Items]
Interest income	0	0	0
Intersegment interest income	0	0	0
Interest expense	0	0
Intersegment interest expense	0	0	0
Net interest income	0	0	0
Provision for credit losses	0	0	0
Net interest income after provision for credit losses	0	0	0
Noninterest income
All other noninterest income	1,323	514	16
Intersegment noninterest income	0	0	0
Total noninterest income	64,953	57,823	55,394
Revenue	64,953	57,823	55,394
Noninterest expense
Salaries, wages, and employee benefits	26,631	24,474	22,993
Data processing	2,263	1,937	1,962
Amortization of intangible assets	1,141	1,469	1,797
Interchange expense	0	0	0
Other noninterest expense	2,836	2,503	2,593
Intersegment noninterest expense	3,096	2,698	2,200
Total noninterest expense	35,967	33,081	31,545
Income (loss) before income taxes	28,986	24,742	23,849
Income taxes	6,956	5,938	5,306
Net income	22,030	18,804	18,543
Wealth Management | Operating Segments | Wealth management fees
Noninterest income
Noninterest income	63,630	57,309	55,378
Wealth Management | Operating Segments | Fees for customer services
Noninterest income
Noninterest income	0	0	0
Wealth Management | Operating Segments | Payment technology solutions
Noninterest income
Noninterest income	0	0	0
FirsTech | Operating Segments
Segment Reporting Information [Line Items]
Interest income	0	0	0
Intersegment interest income	48	54	65
Interest expense	0	0	0
Intersegment interest expense	0	0	0
Net interest income	48	54	65
Provision for credit losses	0	0	0
Net interest income after provision for credit losses	48	54	65
Noninterest income
All other noninterest income	0	0	(3)
Intersegment noninterest income	1,071	1,554	1,656
Total noninterest income	23,054	22,746	21,720
Revenue	23,102	22,800	21,785
Noninterest expense
Salaries, wages, and employee benefits	10,130	8,522	7,899
Data processing	3,692	3,013	2,721
Amortization of intangible assets	0	0	0
Interchange expense	6,001	6,864	6,298
Other noninterest expense	2,736	2,154	2,415
Intersegment noninterest expense	1,443	1,100	1,286
Total noninterest expense	24,002	21,653	20,619
Income (loss) before income taxes	(900)	1,147	1,166
Income taxes	(230)	317	319
Net income	(670)	830	847
FirsTech | Operating Segments | Wealth management fees
Noninterest income
Noninterest income	0	0	0
FirsTech | Operating Segments | Fees for customer services
Noninterest income
Noninterest income	0	0	0
FirsTech | Operating Segments | Payment technology solutions
Noninterest income
Noninterest income	$ 21,983	$ 21,192	$ 20,067

PARENT COMPANY ONLY FINANCIAL_3

PARENT COMPANY ONLY FINANCIAL INFORMATION - Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Assets
Equity securities	$ 15,862	$ 9,812
Investments in subsidiaries:
Premises and equipment, net	118,820	122,594
Other assets	348,590	355,690
Total assets	12,046,722	12,283,415
Liabilities:
Short-term borrowings	0	12,000
Long-term debt	0	18,000
Subordinated notes, net of unamortized issuance costs	227,723	222,882
Junior subordinated debentures owed to unconsolidated trusts	74,815	71,993
Other liabilities	211,775	196,699
Total liabilities	10,663,453	11,011,434
Total stockholders’ equity	1,383,269	1,271,981	$ 1,145,977	$ 1,319,112
Total liabilities and stockholders’ equity	12,046,722	12,283,415
Parent Company
Assets
Cash and cash equivalents	73,484	100,098
Debt securities	0	987
Equity securities	10,295	9,364
Investments in subsidiaries:
Bank	1,584,264	1,478,118
Premises and equipment, net	11	7
Other assets	29,859	20,100
Total assets	1,697,913	1,608,674
Liabilities:
Short-term borrowings	0	12,000
Long-term debt	0	18,000
Subordinated notes, net of unamortized issuance costs	227,723	222,882
Junior subordinated debentures owed to unconsolidated trusts	74,815	71,993
Other liabilities	12,106	11,818
Total liabilities	314,644	336,693
Total stockholders’ equity	1,383,269	1,271,981
Total liabilities and stockholders’ equity	$ 1,697,913	$ 1,608,674

PARENT COMPANY ONLY FINANCIAL_4

PARENT COMPANY ONLY FINANCIAL INFORMATION - Statements of Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Dividends from subsidiaries:
Other noninterest income	$ 14,309	$ 10,078	$ 14,632
Total operating income	462,293	441,835	450,241
Expense
Salaries, wages, and employee benefits	175,619	162,597	159,016
Interest expense	201,070	159,922	36,548
Income tax benefit	(39,613)	(31,339)	(33,426)
Equity in undistributed (in excess of) net income of subsidiaries
Net income	113,691	122,565	128,311
Parent Company
Dividends from subsidiaries:
Bank	100,000	90,000	95,000
Non-bank	0	900	1,630
Income from dissolution of non-bank subsidiary	0	733	0
Interest income	2,325	2,956	1,094
Gains (losses) recognized on equity securities, net	931	(2,171)	(2,159)
Other noninterest income	14,641	14,130	15,195
Total operating income	117,897	106,548	110,760
Expense
Salaries, wages, and employee benefits	21,129	17,766	20,964
Interest expense	17,944	19,005	17,854
Operating expense	11,238	8,009	7,294
Total expense	50,311	44,780	46,112
Income (loss) before income tax benefit and equity in undistributed (in excess of) net income of subsidiaries	67,586	61,768	64,648
Income tax benefit	7,480	7,310	8,286
Income (loss) before equity in undistributed (in excess of) net income of subsidiaries	75,066	69,078	72,934
Equity in undistributed (in excess of) net income of subsidiaries
Bank	38,625	53,487	55,986
Non-bank	0	0	(609)
Net income	$ 113,691	$ 122,565	$ 128,311

PARENT COMPANY ONLY FINANCIAL_5

PARENT COMPANY ONLY FINANCIAL INFORMATION - Statements of Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	$ 9,503	$ 9,488	$ 10,482
Unrealized (gains) losses recognized on equity securities, net	(931)	2,171	2,183
Stock-based compensation	7,726	6,595	8,968
(Increase) decrease in other assets	19,752	(17,888)	(56,284)
Increase (decrease) in other liabilities	(9,612)	12,826	2,633
Net cash provided by (used in) operating activities	178,267	173,390	165,787
Cash flows provided by (used in) investing activities
Purchases of premises and equipment	(6,430)	(9,533)	(4,989)
Net cash provided by (used in) investing activities	657,903	550,987	(290,856)
Cash flows provided by (used in) financing activities
Cash paid for withholding taxes on stock-based payments	(1,755)	(1,093)	(1,276)
Cash dividends paid	(54,169)	(53,076)	(50,863)
Purchase of treasury stock	0	(4,482)	(9,912)
Common stock issuance costs	(141)	0	0
Net cash provided by (used in) financing activities	(858,092)	(231,960)	(483,862)
Net increase (decrease) in cash and cash equivalents	(21,922)	492,417	(608,931)
Cash and cash equivalents, beginning of period	719,581	227,164	836,095
Cash and cash equivalents, ending of period	697,659	719,581	227,164
Parent Company
Cash flows provided by (used in) operating activities
Net income	113,691	122,565	128,311
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	1,163	1,038	1,423
Distributions more (less) than net income of subsidiaries	(38,625)	(53,487)	(55,377)
Unrealized (gains) losses recognized on equity securities, net	(931)	2,171	2,159
Stock-based compensation	7,726	6,595	8,968
(Increase) decrease in other assets	(8,848)	6,253	(17,754)
Increase (decrease) in other liabilities	365	(7,687)	21,233
Net cash provided by (used in) operating activities	74,541	77,448	88,963
Cash flows provided by (used in) investing activities
Sales (purchases) of equity securities, net	995	0	598
Net cash paid for acquisitions	(14,623)	0	0
Purchases of premises and equipment	(9)	0	(9)
Repayments of investments in subsidiaries	0	1,480	0
Net cash provided by (used in) investing activities	(13,637)	1,480	589
Cash flows provided by (used in) financing activities
Cash paid for withholding taxes on stock-based payments	(1,755)	(1,093)	(1,276)
Cash dividends paid	(54,169)	(53,076)	(50,863)
Repayments of borrowings	(31,450)	(12,000)	(112,000)
Proceeds from issuance of debt	0	0	98,094
Proceeds from the exercise of stock options and warrants	(3)	9	0
Purchase of treasury stock	0	(4,482)	(9,912)
Common stock issuance costs	(141)	0	0
Net cash provided by (used in) financing activities	(87,518)	(70,642)	(75,957)
Net increase (decrease) in cash and cash equivalents	(26,614)	8,286	13,595
Cash and cash equivalents, beginning of period	100,098	91,812	78,217
Cash and cash equivalents, ending of period	$ 73,484	$ 100,098	$ 91,812