First Busey (BUSE) 10-Q 8 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Nov. 08, 2016
Document and Entity Information
Entity Registrant Name	FIRST BUSEY CORP /NV/
Entity Central Index Key	314,489
Document Type	10-Q
Document Period End Date	Sep. 30, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		38,207,190
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Assets
Cash and due from banks (interest-bearing 2016 $288,016; 2015 $250,404)	$ 358,337	$ 319,280
Federal funds sold	2,498
Cash and cash equivalents	360,835	319,280
Securities available for sale, at fair value	774,683	834,838
Securities held to maturity, at amortized cost	50,460	49,832
Loans held for sale	266,382	9,351
Portfolio loans (net of allowance for loan losses 2016 $47,847; 2015 $47,487)	3,759,766	2,580,252
Premises and equipment, net	80,287	63,088
Goodwill	102,356	25,510
Other intangible assets, net	19,743	7,432
Cash surrender value of bank owned life insurance	79,455	43,103
Deferred tax assets, net	20,651	21,638
Other assets	77,623	44,652
Total assets	5,592,241	3,998,976
Deposits:
Noninterest-bearing	996,750	881,685
Interest-bearing	3,339,756	2,407,421
Total deposits	4,336,506	3,289,106
Securities sold under agreements to repurchase	212,363	172,972
Short-term borrowings	246,700
Long-term debt	80,000	80,000
Junior subordinated debt owed to unconsolidated trusts	70,834	55,000
Other liabilities	49,764	28,712
Total liabilities	4,996,167	3,625,790
Commitments and contingencies (See Note 13- Outstanding Commitments and Contingent Liabilities)
Stockholders' Equity
Common stock, $.001 par value, authorized 66,666,667 shares; shares issued 2016 38,869,519; 2015 29,427,738	39	29
Additional paid-in capital	783,409	591,053
Accumulated deficit	(168,552)	(190,265)
Accumulated other comprehensive income	6,758	2,340
Total stockholders' equity before treasury stock	621,654	403,157
Common stock shares held in treasury at cost, 2016 662,512; 2015 732,887	(25,580)	(29,971)
Total stockholders' equity	596,074	373,186
Total liabilities and stockholders' equity	$ 5,592,241	$ 3,998,976
Common shares outstanding at period end	38,207,007	28,694,851

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
CONSOLIDATED BALANCE SHEETS
Cash and due from banks, interest-bearing (in dollars)	$ 288,016	$ 250,404
Portfolio Loans, allowance for loan losses (in dollars)	$ 47,847	$ 47,487
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	66,666,667	66,666,667
Common stock, shares issued	38,869,519	29,427,738
Common stock shares held in treasury	662,512	732,887

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Interest income:
Interest and fees on loans	$ 43,002	$ 25,099	$ 104,333	$ 73,851
Interest and dividends on investment securities:
Taxable interest income	3,398	3,791	10,585	10,588
Non-taxable interest income	788	840	2,332	2,464
Total interest income	47,188	29,730	117,250	86,903
Interest expense:
Deposits	2,099	1,175	4,998	3,624
Federal funds purchased and securities sold under agreements to repurchase	102	44	274	132
Short-term borrowings	263		461
Long-term debt	55	10	155	31
Junior subordinated debt owed to unconsolidated trusts	538	306	1,337	900
Total interest expense	3,057	1,535	7,225	4,687
Net interest income	44,131	28,195	110,025	82,216
Provision for loan losses	1,950	100	4,050	600
Net interest income after provision for loan losses	42,181	28,095	105,975	81,616
Non-interest income:
Trust fees	4,520	4,542	15,112	15,385
Commissions and brokers' fees, net	740	799	2,095	2,402
Remittance processing	2,803	2,897	8,558	8,372
Service charges on deposit accounts	4,518	3,312	11,562	9,292
Other service charges and fees	1,977	1,614	5,512	4,883
Gain on sales of loans, net	4,526	1,549	8,130	4,843
Security gains (losses), net	11		1,230	(21)
Other income	1,650	1,176	3,969	3,321
Total non-interest income	20,745	15,889	56,168	48,477
Non-interest expense:
Salaries and wages	17,197	13,365	44,103	41,181
Employee benefits	4,519	2,352	11,472	7,215
Net occupancy expense of premises	3,401	2,090	8,300	6,496
Furniture and equipment expenses	1,836	1,319	4,564	3,793
Data processing	4,430	3,082	12,677	9,843
Amortization of intangible assets	1,282	807	3,157	2,384
Regulatory expense	802	610	2,274	1,813
Other expense	5,948	4,325	16,904	14,217
Total non-interest expense	39,415	27,950	103,451	86,942
Income before income taxes	23,511	16,034	58,692	43,151
Income taxes	8,089	5,408	20,453	14,828
Net income	15,422	10,626	38,239	28,323
Preferred stock dividends		182		545
Net income available to common stockholders	$ 15,422	$ 10,444	$ 38,239	$ 27,778
Basic earnings per common share (in dollars per share)	$ 0.40	$ 0.36	$ 1.12	$ 0.96
Diluted earnings per common share (in dollars per share)	0.40	0.36	1.11	0.95
Dividends declared per share of common stock (in dollars per share)	$ 0.17	$ 0.15	$ 0.51	$ 0.45

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net income	$ 15,422	$ 10,626	$ 38,239	$ 28,323
Unrealized net (losses) gains on securities:
Unrealized net holding (losses) gains arising during period	(2,017)	2,512	8,582	1,661
Reclassification adjustment for (gains) losses included in net income	(11)		(1,230)	21
Other comprehensive (loss) income, before tax	(2,028)	2,512	7,352	1,682
Income tax (benefit) expense related to items of other comprehensive income	(815)	1,005	2,934	673
Other comprehensive (loss) income, net of tax	(1,213)	1,507	4,418	1,009
Comprehensive income	$ 14,209	$ 12,133	$ 42,657	$ 29,332

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Preferred Stock	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Income	Treasury Stock	Total
Balance at Dec. 31, 2014	$ 72,664	$ 29	$ 593,746	$ (210,384)	$ 5,817	$ (28,233)	$ 433,639
Increase (decrease) in shareholders' equity
Net income				28,323			28,323
Other comprehensive income					1,009		1,009
Issuance of treasury stock for employee stock purchase plan			(495)			745	250
Net issuance of treasury stock for restricted stock unit vesting and related tax benefit			(3,784)			3,643	(141)
Issuance of treasury stock						34	34
Cash dividends on common stock of $0.45 and $0.51 per share for the period of nine months ended September 2016 and 2015, respectively				(13,041)			(13,041)
Stock dividend equivalents on restricted stock units of $0.45 and $0.51 per share for the period of nine months ended September 2016 and 2015, respectively			185	(185)
Stock-based employee compensation			1,001				1,001
Preferred stock dividends				(545)			(545)
Purchase of treasury stock						(6,296)	(6,296)
Cash paid in lieu of fractional shares in reverse stock split			(5)				(5)
Balance at Sep. 30, 2015	$ 72,664	29	590,648	(195,832)	6,826	(30,107)	444,228
Balance at Dec. 31, 2015		29	591,053	(190,265)	2,340	(29,971)	373,186
Increase (decrease) in shareholders' equity
Net income				38,239			38,239
Other comprehensive income					4,418		4,418
Stock issued for acquisition of Pulaski, net of stock issuance costs		10	195,188				195,198
Issuance of treasury stock for employee stock purchase plan			(552)			805	253
Net issuance of treasury stock for restricted stock unit vesting and related tax benefit			(2,929)			2,668	(261)
Net issuance of stock options exercised, net of shares redeemed			(923)			923
Cash dividends on common stock of $0.45 and $0.51 per share for the period of nine months ended September 2016 and 2015, respectively				(16,253)			(16,253)
Stock dividend equivalents on restricted stock units of $0.45 and $0.51 per share for the period of nine months ended September 2016 and 2015, respectively			263	(263)
Stock dividend accrued on restricted stock awards assumed with the Pulaski acquisition at $0.17 per share				(10)			(10)
Stock-based employee compensation			1,309				1,309
Return of equity trust shares						(5)	(5)
Balance at Sep. 30, 2016		$ 39	$ 783,409	$ (168,552)	$ 6,758	$ (25,580)	$ 596,074

CONSOLIDATED STATEMENTS OF STO7

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash dividends, common stock (in dollars per share)	$ 0.51	$ 0.45
Stock dividends, restricted stock units (in dollars per share)	0.51	$ 0.45
Pulaski Financial Corp
Stock dividends, accrued restricted stock awards (in dollars per share)	$ 0.17

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash Flows from Operating Activities
Net income	$ 38,239	$ 28,323
Adjustments to reconcile net income to net cash provided by operating activities:
Stock-based and non-cash compensation	1,309	1,001
Depreciation	5,330	4,267
Amortization of intangible assets	3,157	2,384
Provision for loan losses	4,050	600
Provision for deferred income taxes	(1,948)	(1,986)
Amortization of security premiums and discounts, net	5,407	6,336
Accretion of premiums and discounts on time deposits and trust preferred securities, net	(529)
Accretion of premiums and discounts on portfolio loans, net	(4,329)	(1,222)
Net security (gains) losses	(1,230)	21
Gain on sales of loans, net	(8,130)	(4,843)
Net losses on disposition of premises and equipment	36	145
Premises and equipment impairment	650	670
Increase in cash surrender value of bank owned life insurance	(1,257)	(1,090)
Change in assets and liabilities:
Decrease in other assets	5,790	2,028
Increase (decrease) in other liabilities	1,125	(2,937)
Decrease in interest payable	(61)	(98)
(Increase) decrease in income taxes receivable	(1,073)	3,742
Net cash provided by operating activities before activities for loans originated for sale	46,536	37,341
Loans originated for sale	(1,218,032)	(228,307)
Proceeds from sales of loans	1,139,884	229,604
Net cash (used in) provided by operating activities	(31,612)	38,638
Cash Flows from Investing Activities
Proceeds from sales of securities classified available for sale	49,378	15,302
Proceeds from sales of securities classified held to maturity	399
Proceeds from maturities of securities classified available for sale	183,329	152,165
Proceeds from maturities of securities classified held to maturity	1,333	408
Purchase of securities classified available for sale	(121,633)	(235,905)
Purchase of securities classified held to maturity	(2,103)	(16,025)
Net decrease (increase) in portfolio loans	62,154	(54,656)
Proceeds from disposition of premises and equipment	864	311
Proceeds from sale of other real estate owned ("OREO") properties	3,911	927
Purchases of premises and equipment	(6,748)	(3,265)
Net cash received in acquisitions	25,575	12,114
Proceeds from the redemption of Federal Home Loan Bank ("FHLB") stock	17,640
Purchase of FHLB stock	(23,478)
Net cash provided by (used in) investing activities	190,621	(128,624)
Cash Flows from Financing Activities
Net decrease in certificates of deposit	(131,917)	(66,625)
Net (decrease) increase in demand, money market and savings deposits	(48,112)	34,406
Proceeds from FHLB short term advances	57,700
Repayment of FHLB long term advances	(4,906)
Proceeds from short-term borrowings	10,000
Cash dividends paid	(16,263)	(13,586)
Value of shares surrendered upon vesting of restricted stock units to satisfy tax obligations	(261)	(269)
Net increase (decrease) in securities sold under agreements to repurchase	16,551	(21,932)
Cash payment for fractional shares related to reverse stock split		(5)
Purchase of treasury stock		(6,296)
Common stock issuance costs	(246)
Net cash used in financing activities	(117,454)	(74,307)
Net increase (decrease) in cash and cash equivalents	41,555	(164,293)
Cash and cash equivalents, beginning of period	319,280	339,438
Cash and cash equivalents, ending of period	360,835	175,145
Cash Payments for:
Interest	6,658	4,751
Income taxes	13,900	9,570
Non-cash investing and financing activities:
Real estate acquired in settlement of loans	$ 2,175	$ 399

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2016
Basis of Presentation
Basis of Presentation	Note 1: Basis of Presentation The accompanying unaudited Consolidated Financial Statements of First Busey Corporation (“First Busey” or the “Company”), a Nevada corporation, have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim financial information and with the instructions to Form 10-Q, and do not include certain information and footnote disclosures required by U.S. generally accepted accounting principles (“GAAP”) for complete annual financial statements. Accordingly, these financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2015 on file with the SEC. On May 20, 2015, at the Company’s Annual Meeting of Stockholders, the Company’s stockholders approved a resolution to authorize the board of directors to implement a reverse stock split of the Company’s common stock at a ratio of one-for-three (the “Reverse Stock Split”). On August 17, 2015, the board of directors authorized the Reverse Stock Split, which became effective on September 8, 2015. The accompanying Consolidated Balance Sheet as of December 31, 2015, which has been derived from audited financial statements, and the unaudited Consolidated Financial Statements have been prepared in accordance with GAAP and reflect all adjustments that are, in the opinion of management, necessary for the fair presentation of the financial position and results of operations as of the dates and for the periods presented. All such adjustments are of a normal recurring nature. The results of operations for the three and nine months ended September 30, 2016 are not necessarily indicative of the results that may be expected for the year ending December 31, 2016. On April 30, 2016, First Busey completed its acquisition of Pulaski Financial Corp., a Missouri corporation (“Pulaski”), and Pulaski Bank, National Association (“Pulaski Bank”). The unaudited Consolidated Financial Statements include the accounts of the Company, Busey Bank and Busey Bank’s wholly owned subsidiary, FirsTech, Inc., Pulaski Bank and Pulaski Bank’s wholly owned subsidiaries, Pulaski Service Corporation and Priority Property Holdings, LLC (each as of April 30, 2016) and Busey Wealth Management, Inc. and its wholly owned subsidiary, Busey Trust Company. All material intercompany transactions and balances have been eliminated in consolidation. Certain prior-year amounts have been reclassified to conform to the current presentation with no effect on net income or stockholders’ equity. In preparing the accompanying unaudited Consolidated Financial Statements, the Company’s management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses for the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the fair value of investment securities, the fair value of assets acquired and liabilities assumed in business combinations and the determination of the allowance for loan losses. Effective January 1, 2016, the Company elected to account for all loans held for sale at fair value. Prior to this change, the Company accounted for loans held for sale at the lower of cost or fair value. See Note 17 - Fair Value Measurements for further discussion. The Company has evaluated subsequent events for potential recognition and/or disclosure through the date the unaudited Consolidated Financial Statements included in this Quarterly Report on Form 10-Q were issued. On November 4, 2016, Pulaski Bank was merged with and into Busey Bank. In addition, on October 21, 2016 a return of capital and associated surplus to the Company from Busey Bank was executed as discussed in Note 14 — Capital. Other than the bank merger and return of capital and associated surplus, there were no significant subsequent events for the quarter ended September 30, 2016 through the filing date of these unaudited Consolidated Financial Statements that warranted adjustment to or disclosure in the unaudited Consolidated Financial Statements.

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2016
Acquisitions
Acquisitions	Note 2: Acquisitions Pulaski Financial Corp. On April 30, 2016, First Busey completed its acquisition of Pulaski. Pulaski Bank, which was Pulaski’s wholly owned bank subsidiary prior to the acquisition, offers a full line of quality retail and commercial banking products through thirteen full-service branch offices in the St. Louis metropolitan area. Pulaski Bank also offers mortgage loan products through loan production offices in the St. Louis, Kansas City, Chicago, and Omaha-Council Bluffs metropolitan areas and other locations across the Midwest. The operating results of Pulaski are included with the Company’s results of operations since the date of acquisition. First Busey operated Pulaski Bank as a separate subsidiary from May 1, 2016 until November 4, 2016 when it was merged with and into Busey Bank. At that time, Pulaski Bank’s branches became branches of Busey Bank. Under the terms of the definitive agreement, at the effective time of the acquisition, each share of Pulaski common stock issued and outstanding was converted into 0.79 shares of First Busey common stock and cash in lieu of fractional shares. The market value of the 9.4 million shares of First Busey common stock issued at the effective time of the acquisition was approximately $193.0 million based on First Busey’s closing stock price of $20.44 on April 29, 2016. In addition, all of the options to purchase shares of Pulaski common stock that were outstanding at the acquisition date were converted into options to purchase shares of First Busey common stock, adjusted for the 0.79 exchange ratio. The acquisition of Pulaski allows the Company to significantly expand its geographic presence through a premier St. Louis banking franchise with an almost 100-year history and a strong regional residential lending presence. In addition, this transaction is strategically compelling and financially attractive because it creates a Midwest community bank with greater scale and operating efficiency, along with geographic and balance sheet diversification. It also provides cross-sale opportunities to the Company’s Wealth Management operating segment. Pulaski has a deep and experienced management team to assist in post-acquisition integration and market expansion, and a similar culture to First Busey to facilitate a successful integration process. By acquiring organizations with a similar philosophy in markets that complement the Company’s existing customer base, First Busey intends to expand its franchise through balanced, integrated growth strategies that generate value. This transaction was accounted for using the acquisition method of accounting and, accordingly, assets acquired, liabilities assumed, and consideration exchanged were recorded at their estimated fair values on the date of acquisition. Fair values are subject to refinement for up to one year after the closing date of April 30, 2016 as additional information regarding the closing date fair values becomes available. The total consideration paid, which was used to determine the amount of goodwill resulting from the transaction, also included the fair value of outstanding Pulaski stock options that were converted into options to purchase common shares of First Busey. As the total consideration paid for Pulaski exceeded the net assets acquired, goodwill of $76.8 million was recorded as a result of the acquisition. Goodwill recorded in the transaction, which reflects the synergies expected from the acquisition and the enhanced revenue opportunities from the Company’s broader service capabilities in the St. Louis market, is not tax deductible, and was assigned to the Banking operating segment. First Busey incurred $0.8 million and $3.1 million in pre-tax expenses related to the acquisition of Pulaski for the three and nine months ended September 30, 2016, respectively, including professional and legal fees of $0.2 million and $1.1 million, respectively, to directly consummate the acquisition, all of which are reported as a component of non-interest expense in the accompanying unaudited Consolidated Financial Statements. The remainder of the expenses primarily relate to data processing conversion expenses and restructuring expenses. The following table presents the assets acquired and liabilities assumed of Pulaski as of April 30, 2016 and their fair value estimates (dollars in thousands) : As Recorded by Fair Value As Recorded by Assets acquired: Cash and cash equivalents $ $ — $ Securities (a) Loans held for sale — Portfolio loans ) (b) Premises and equipment (c) OREO ) (d) Goodwill ) (e) — Other intangible assets — (f) Other assets ) (g) Total assets acquired ) Liabilities assumed: Deposits (h) Other borrowings (i) Trust preferred securities ) (j) Other liabilities ) (k) Total liabilities assumed ) Net assets acquired $ $ ) $ Consideration paid: Cash $ Common stock Fair value of stock options assumed Total consideration paid Goodwill $ Explanation: (a) Fair value adjustments of the securities portfolio as of the acquisition date. (b) Fair value adjustments based on the Company’s evaluation of the acquired loan portfolio, write-off of net deferred loan costs and elimination of the allowance for loan losses recorded by Pulaski. $16.9 million is expected to be accreted over the estimated four year remaining life of the respective loans in a manner that approximates the level yield method. (c) Fair value adjustments based on the Company’s evaluation of the acquired premises and equipment. (d) Fair value adjustment based on the Company’s evaluation of the acquired OREO portfolio. (e) Eliminate Pulaski’s existing goodwill. (f) Recording of the core deposit intangible asset on the acquired core deposit accounts. Amount to be amortized using a sum of years digits method over a 14 year useful life. (g) Fair value adjustment of other assets at the acquisition date. (h) Fair value adjustment to time deposits. Amount to be accreted over two years in a manner that approximates the level yield method. (i) Fair value adjustment to the FHLB borrowings. Such borrowings were repaid shortly after the acquisition date, so there will be no discount accretion. (j) Fair value adjustment to the trust preferred securities at the acquisition date. Amount to be accreted over the weighted average remaining life of 18 years in a manner that approximates the level yield method. (k) Fair value adjustment of other liabilities at the acquisition date. The loans acquired in this transaction were recorded at fair value with no carryover of any existing allowance for loan losses. Loans that were not deemed to be credit-impaired at the acquisition date were accounted for under FASB ASC 310-20, Receivables-Nonrefundable Fees and Other Costs and were subsequently considered as part of the Company’s determination of the adequacy of the allowance for loan losses. Purchased credit-impaired (“PCI”) loans, which are loans with evidence of credit quality deterioration at the date of acquisition, were accounted for under FASB ASC 310-30, Receivables — Loans and Debt Securities Acquired with Deteriorated Credit Quality . As of the acquisition date, the aggregate principal outstanding and aggregate fair value of the acquired performing loans, including loans held for sale, both rounded to $1.4 billion. The difference between the aggregate principal balance outstanding and aggregate fair value of $16.6 million is expected to be accreted over the estimated four year remaining life of the respective loans in a manner that approximates the level yield method. As of the acquisition date, the aggregate principal balance outstanding of PCI loans totaled $21.2 million and the aggregate fair value of PCI loans totaled $9.7 million, which became such loans’ new carrying value. During the third quarter of 2016, PCI loans with a carrying value of $6.2 million were sold to outside parties. For PCI loans, the difference between contractually required payments at the acquisition date and the cash flow expected to be collected is referred to as the non-accretable difference. Further, the excess of cash flows expected at acquisition over the fair value is referred to as the accretable yield. The accretable yield, as of the acquisition date, of $0.3 million on PCI loans was expected to be recognized over the estimated four year remaining life of the respective loans in a manner that approximates the level yield method; however, the majority was accelerated in the third quarter of 2016 due to the loan sale. Since the acquisition date, Pulaski Bank earned total revenues of $33.3 million and net income of $8.8 million, which are included in the Company’s Consolidated Statements of Income for the nine months ended September 30, 2016. The following table provides the unaudited pro forma information for the results of operations for the three and nine months ended September 30, 2016 and 2015, as if the acquisition had occurred on January 1, 2015. The pro forma results combine the historical results of Pulaski with the Company’s Consolidated Statements of Income, adjusted for the impact of the application of the acquisition method of accounting including loan discount accretion, intangible assets amortization, and deposit and trust preferred securities premium 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, 2015. No assumptions have been applied to the pro forma results of operations regarding possible revenue enhancements, expense efficiencies or asset dispositions. Only the acquisition related expenses that have been incurred as of September 30, 2016 are included in net income in the table below. Acquisition related expenses that were recognized and are included in the pro forma net income for the three and nine months ended September 30, 2016 totaled $0.8 million and $8.1 million, respectively, on a pre-tax basis. Such expenses consisted primarily of professional fees to transact the acquisition, data processing conversion expenses and compensation to certain officers required under employment agreements. Pro Forma Pro Forma Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 (dollars in thousands) Total revenues (net interest income plus non-interest income) $ $ $ $ Net income Diluted earnings per common share Herget Financial Corp. On January 8, 2015, First Busey acquired Herget Financial Corp. (“Herget Financial”), headquartered in Pekin, Illinois and its wholly owned bank subsidiary, Herget Bank, National Association (“Herget Bank”). First Busey operated Herget Bank as a separate banking subsidiary from January 9, 2015 until March 13, 2015, when it was merged with and into Busey Bank. At that time, Herget Bank’s branches in Pekin, Illinois became branches of Busey Bank. The operating results of Herget Financial are included in the Company’s results of operations since the date of acquisition. 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 the date of acquisition. Expenses related to the acquisition of Herget Financial for the first nine months of 2016 were insignificant. During the first nine months of 2015, pre-tax expenses related to the acquisition of Herget Financial totaled $1.0 million. The 2015 expenses were comprised primarily of system conversion, restructuring, legal, consulting, regulatory and marketing costs, all of which are reported as a component of non-interest expense in the accompanying unaudited Consolidated Financial Statements.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2016
Recent Accounting Pronouncements
Recent Accounting Pronouncements	Note 3: Recent Accounting Pronouncements Accounting Standards Update (“ASU”) 2014-09, “Revenue from Contracts with Customers (Topic 606).” ASU 2014-09 outlines a single model for companies to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. ASU 2014-09 will require that companies recognize revenue based on the value of transferred goods or services as they occur in the contract and will also require additional disclosures. The new authoritative guidance was originally effective for reporting periods after December 15, 2016. In August 2015, ASU 2015-14, “Revenue from Contracts with Customers (Topic 606)” was issued to delay the effective date of ASU 2014-09 by one year. The Company is evaluating the impact this guidance will have on its Consolidated Financial Statements and related disclosures. ASU 2016-01, “Financial Instruments — Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities.” ASU 2016-01 is intended to improve the recognition and measurement of financial instruments by, among other things, requiring: equity investments, with certain exceptions, to be measured at fair value with changes in fair value recognized in net income; public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes; separate presentation of financial assets and financial liabilities by measurement category and form of financial assets on the balance sheet or the accompanying notes to the financial statements; eliminating the requirement for public business entities to disclose the method and significant assumptions used to estimate the fair value that is to be required to be disclosed for financial instruments measured at amortized cost on the balance sheet; and requiring an entity to present separately in other comprehensive income the portion of the total change in fair value of a liability resulting from the change in the instrument-specific credit risk when the organization has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. ASU 2016-01 will be effective on January 1, 2018 and the Company is evaluating the impact this guidance will have on its Consolidated Financial Statements and related disclosures. ASU 2016-02, “Leases (Topic 842).” ASU 2016-02 intends to increase transparency and comparability among organizations by recognizing all lease transactions (with terms in excess of 12 months) on the balance sheet as a lease liability and a right-of-use asset. The guidance also requires qualitative and quantitative disclosures designed to assess the amount, timing and uncertainty of cash flows arising from leases. This guidance is effective for annual reporting periods beginning after December 15, 2018, including interim periods within those fiscal years. Upon adoption, the lessee will apply the new standard retrospectively to all periods presented or retrospectively using a cumulative effect adjustment in the year of adoption. The Company is evaluating the impact this guidance will have on its Consolidated Financial Statements and related disclosures. ASU 2016-09, “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.” ASU 2016-09 is intended to simplify several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities and classification on the statement of cash flows. This guidance is effective for reporting periods after December 15, 2016, and interim periods within those fiscal years with early adoption permitted. The Company elected to early adopt this update in the third quarter of the current fiscal year and adoption of this did not have a significant impact to its Consolidated Financial Statements and related disclosures. ASU 2016-13, “Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” ASU 2016-13 implements a comprehensive change in estimating the allowances for loan losses from the current model of losses inherent in the loan portfolio to a current expected credit loss model that generally is expected to result in earlier recognition of allowances for losses. Further, purchase accounting rules have been modified as well as credit losses on held to maturity debt securities. ASU 2016-13 will be effective in the first quarter of 2020. The Company is evaluating the impact this guidance will have on its Consolidated Financial Statements and related disclosures. ASU 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments.” ASU 2016-15 provides clarification regarding how certain cash receipts and cash payment are presented and classified in the Consolidated Statements of Cash Flows. This update is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years, with early adoption permitted. The Company does not expect the adoption of this guidance to have a material impact to its Consolidated Financial Statements.

Securities

Securities	9 Months Ended
	Sep. 30, 2016
Securities
Securities	Note 4: Securities Securities are classified as held to maturity when First Busey has the ability and management has the intent to hold those securities to maturity. Accordingly, they are stated at cost, adjusted for amortization of premiums and accretion of discounts. Securities are classified as available for sale when First Busey may decide to sell those securities due to changes in market interest rates, liquidity needs, changes in yields on alternative investments, and for other reasons. They are carried at fair value with unrealized gains and losses, net of taxes, reported in other comprehensive income. The amortized cost, unrealized gains and losses and fair values of securities are summarized as follows: September 30, 2016: Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (dollars in thousands) Available for sale U.S. Treasury securities $ $ $ — $ Obligations of U.S. government corporations and agencies — Obligations of states and political subdivisions ) Residential mortgage-backed securities ) Corporate debt securities ) Total debt securities ) Mutual funds and other equity securities — Total $ $ $ ) $ Held to maturity Obligations of states and political subdivisions $ $ $ ) $ Commercial mortgage-backed securities — Total $ $ $ ) $ December 31, 2015: Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (dollars in thousands) Available for sale U.S. Treasury securities $ $ $ ) $ Obligations of U.S. government corporations and agencies ) Obligations of states and political subdivisions ) Residential mortgage-backed securities ) Corporate debt securities ) Total debt securities ) Mutual funds and other equity securities — Total $ $ $ ) $ Held to maturity Obligations of states and political subdivisions $ $ $ ) $ Commercial mortgage-backed securities — Total $ $ $ ) $ The amortized cost and fair value of debt securities as of September 30, 2016, by contractual maturity or pre-refunded date, are shown below. Mutual funds and other equity securities do not have stated maturity dates and therefore are not included in the following maturity summary. Mortgages underlying mortgage-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 agencies and corporations. Available for sale Held to maturity Amortized Fair Amortized Fair Cost Value Cost Value (dollars in thousands) Due in one year or less $ $ $ $ Due after one year through five years Due after five years through ten years Due after ten years Total $ $ $ $ Realized gains and losses related to sales of securities are summarized as follows: Three Months Ended Nine Months Ended 2016 2015 2016 2015 (dollars in thousands) Gross security gains $ $ — $ $ Gross security (losses) ) — ) ) Net security gains (losses) $ $ — $ $ ) The tax provision for the net realized gains and losses was insignificant for the three months ended September 30, 2016. The tax provision for the net realized gains and losses was $0.4 million for the nine months ended September 30, 2016. The tax provision for the net realized gains and losses was insignificant for the nine months ended September 30, 2015. During the second quarter of 2016, the Company sold one held to maturity security, which was an obligation of state and political subdivisions, with a fair value of $0.4 million due to significant credit deterioration. The sale resulted in an insignificant loss during the second quarter. Investment securities with carrying amounts of $619.1 million and $627.4 million on September 30, 2016 and December 31, 2015, respectively, were pledged as collateral for public deposits, securities sold under agreements to repurchase and for other purposes as required or permitted by law. Information pertaining to securities with gross unrealized losses at September 30, 2016 and December 31, 2015, aggregated by investment category and length of time that individual securities have been in a continuous loss position, follows: September 30, 2016: Continuous unrealized Continuous unrealized Total, gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (dollars in thousands) Available for sale Obligations of U.S. government corporations and agencies(1) $ $ — $ — $ — $ $ — Obligations of states and political subdivisions ) ) ) Residential mortgage-backed securities(1) ) — — ) Corporate debt securities ) — — ) Total temporarily impaired securities $ $ ) $ $ ) $ $ ) Held to maturity Obligations of states and political subdivisions $ $ ) $ — $ — $ $ ) Total temporarily impaired securities $ $ ) $ — $ — $ $ ) (1) Unrealized losses existing for less than 12 months, gross, was less than one thousand dollars. December 31, 2015: Continuous unrealized Continuous unrealized Total, gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (dollars in thousands) Available for sale U.S. Treasury securities $ $ ) $ — $ — $ $ ) Obligations of U.S. government corporations and agencies ) — — ) Obligations of states and political subdivisions ) ) ) Residential mortgage-backed securities ) — — ) Corporate debt securities ) — — ) Total temporarily impaired securities $ $ ) $ $ ) $ $ ) Held to maturity Obligations of states and political subdivisions(2) $ $ ) $ $ — $ $ ) Total temporarily impaired securities $ $ ) $ $ — $ $ ) (2) Unrealized losses existing for greater than 12 months, gross, was less than one thousand dollars. Securities are periodically evaluated for other-than-temporary impairment (“OTTI”). The total number of securities in the investment portfolio in an unrealized loss position as of September 30, 2016 was 58, and represented a loss of 0.20% of the aggregate carrying value. As of September 30, 2016, the Company does not intend to sell such securities and it is more-likely-than-not that the Company will recover the amortized cost prior to being required to sell the securities. Full collection of the amounts due according to the contractual terms of the securities is expected; therefore, the Company does not consider these investments to be OTTI at September 30, 2016. The Company had available for sale obligations of state and political subdivisions with aggregate fair values of $164.0 million and $178.6 million as of September 30, 2016 and December 31, 2015, respectively. In addition, the Company had held to maturity obligations of state and political subdivisions with aggregate fair values of $48.0 million and $49.3 million as of September 30, 2016 and December 31, 2015, respectively. As of September 30, 2016, the aggregate fair value of the Company’s obligations of state and political subdivisions portfolio was comprised of $177.9 million of general obligation bonds and $34.1 million of revenue bonds issued by 263 issuers, primarily consisting of states, counties, cities, towns, villages and school districts. The Company held investments in general obligation bonds in 29 states (including the District of Columbia), including seven states in which the aggregate fair value exceeded $5.0 million. The Company held investments in revenue bonds in 16 states, including two states where the aggregate fair value exceeded $5.0 million. As of December 31, 2015, the aggregate fair value of the Company’s obligations of state and political subdivisions portfolio was comprised of $193.4 million of general obligation bonds and $34.4 million of revenue bonds issued by 278 issuers, primarily consisting of states, counties, cities, towns, villages and school districts. The Company held investments in general obligation bonds in 29 states (including the District of Columbia), including seven states in which the aggregate fair value exceeded $5.0 million. The Company held investments in revenue bonds in 17 states, including two states where the aggregate fair value exceeded $5.0 million. The amortized cost and fair values of the Company’s portfolio of general obligation bonds are summarized in the following tables by the issuers’ state: September 30, 2016: Average Exposure Number of Amortized Fair Per Issuer U.S. State Issuers Cost Value (Fair Value) (dollars in thousands) Illinois $ $ $ Wisconsin Michigan Pennsylvania Texas Ohio Iowa Other Total general obligations bonds $ $ $ December 31, 2015: Average Exposure Number of Amortized Fair Per Issuer U.S. State Issuers Cost Value (Fair Value) (dollars in thousands) Illinois $ $ $ Wisconsin Michigan Pennsylvania Texas Ohio Iowa Other Total general obligations bonds $ $ $ The general obligation bonds are diversified across many issuers, with $3.4 million being the largest exposure to a single issuer at September 30, 2016 and December 31, 2015. Accordingly, as of September 30, 2016 and December 31, 2015, the Company did not hold general obligation bonds of any single issuer, the aggregate book or market value of which exceeded 10% of the Company’s stockholders’ equity. Of the general obligation bonds in the Company’s portfolio, 98.3% had been rated by at least one nationally recognized statistical rating organization and 1.7% were unrated, based on the aggregate fair value as of September 30, 2016. Of the general obligation bonds in the Company’s portfolio, 97.6% had been rated by at least one nationally recognized statistical rating organization and 2.4% were unrated, based on the aggregate fair value as of December 31, 2015. The amortized cost and fair values of the Company’s portfolio of revenue bonds are summarized in the following tables by the issuers’ state: September 30, 2016: Average Exposure Number of Amortized Fair Per Issuer U.S. State Issuers Cost Value (Fair Value) (dollars in thousands) Indiana $ $ $ Illinois Other Total revenue bonds $ $ $ December 31, 2015: Average Exposure Number of Amortized Fair Per Issuer U.S. State Issuers Cost Value (Fair Value) (dollars in thousands) Indiana $ $ $ Illinois Other Total revenue bonds $ $ $ The revenue bonds are diversified across many issuers and revenue sources with $3.8 million and $3.0 million being the largest exposure to a single issuer at each of September 30, 2016 and December 31, 2015, respectively. Accordingly, as of September 30, 2016 and December 31, 2015, the Company did not hold revenue bonds of any single issuer, the aggregate book or market value of which exceeded 10% of the Company’s stockholders’ equity. Of the revenue bonds in the Company’s portfolio, 96.8% had been rated by at least one nationally recognized statistical rating organization and 3.2% were unrated, based on the fair value as of September 30, 2016. All of the revenue bonds in the Company’s portfolio had been rated by at least one nationally recognized statistical rating organization as of December 31, 2015. Some of the primary types of revenue bonds held in the Company’s portfolio include: primary education or government building lease rentals secured by ad valorem taxes, utility systems secured by utility system net revenues, housing authorities secured by mortgage loans or principal receipts on mortgage loans, secondary education secured by student fees/tuitions, and pooled issuances (i.e. bond bank) consisting of multiple underlying municipal obligors. Substantially all of the Company’s obligations of state and political subdivision securities are owned by its subsidiary banks , which have adopted First Busey’s investment policy requiring that state and political subdivision securities purchased be investment grade. Such investment policy also limits the amount of rated state and political subdivision securities to an aggregate 100% of the subsidiary banks’ Total Capital (as defined by federal regulations) at the time of purchase and an aggregate 15% of Total Capital for unrated state and political subdivision securities issued by municipalities having taxing authority or located in counties/micropolitan statistical areas/metropolitan statistical areas in which an office is located. The investment policy states fixed income investments that are not Office of the Comptroller of the Currency Type 1 securities (U.S. Treasuries, agencies, municipal government general obligation and, for well-capitalized institutions, most municipal revenue bonds) should be analyzed prior to acquisition to determine that (1) the security has low risk of default by the obligor, and (2) the full and timely repayment of principal and interest is expected over the expected life of the investment. All securities in First Busey’s obligations of state and political subdivision securities portfolio are subject to ongoing review. Factors that may be considered as part of ongoing monitoring of state and political subdivision securities include credit rating changes by nationally recognized statistical rating organizations, market valuations, third-party municipal credit analysis, which may include indicative information regarding the issuer’s capacity to pay, market and economic data and such other factors as are available and relevant to the security or the issuer such as its budgetary position and sources, strength and stability of taxes and/or other revenue.

Loans

Loans	9 Months Ended
	Sep. 30, 2016
Loans
Loans	Note 5: Loans Distributions of loans were as follows: September 30, December 31, (dollars in thousands) Commercial $ $ Commercial real estate Real estate construction Retail real estate Retail other Total gross loans $ $ Less loans held for sale(1) Gross portfolio loans $ $ Less allowance for loan losses Net portfolio loans $ $ (1)Loans held for sale are included in retail real estate. Net portfolio loans increased $1.2 billion as of September 30, 2016 as compared to December 31, 2015 primarily as a result of the Pulaski acquisition. Net deferred loan origination costs included in the table above were $2.3 million as of September 30, 2016 and $0.9 million as of December 31, 2015. Net accretable purchase accounting adjustments included in the table above reduced loans by $14.8 million as of September 30, 2016 and $2.2 million as of December 31, 2015. The Company believes that making sound loans is a necessary and desirable means of employing funds available for investment. Recognizing the Company’s obligations to its stockholders, depositors, and to the communities it serves, authorized personnel are expected to seek to develop and make sound, profitable loans that resources permit and that opportunity affords. The Company maintains lending policies and procedures designed to focus lending efforts on the types, locations and duration of loans most appropriate for its business model and markets. While not specifically limited, the Company attempts to focus its lending on short to intermediate-term (0-7 years) loans in geographic areas within 125 miles of its lending offices. Loans might be originated outside of these areas, but such loans are generally residential mortgage loans originated for sale in the secondary market. The Company attempts to utilize government-assisted lending programs, such as the Small Business Administration and United States Department of Agriculture lending programs, when prudent. Generally, loans are collateralized by assets, primarily real estate, of the borrowers and guaranteed by individuals. The loans are expected to be repaid primarily from cash flows of the borrowers, or from proceeds from the sale of selected assets of the borrowers. Management reviews and approves the Company’s lending policies and procedures on a routine basis. The policies for legacy Pulaski loans are similar in nature to Busey Bank’s policies and the Company is migrating Pulaski’s loan production towards the Busey Bank policies. Management routinely (at least quarterly) reviews the Company’s allowance for loan losses in conjunction with reports related to loan production, loan quality, concentrations of credit, loan delinquencies and non-performing and potential problem loans. The Company’s underwriting standards are designed to encourage relationship banking rather than transactional banking. Relationship banking implies a primary banking relationship with the borrower that includes, at a minimum, an active deposit banking relationship in addition to the lending relationship. The integrity and character of the borrower are significant factors in the Company’s loan underwriting decisions. As a part of underwriting, tangible positive or negative evidence of the borrower’s integrity and character are sought out. Additional significant underwriting factors beyond location, duration, a sound and profitable cash flow basis and the borrower’s character include the quality of the borrower’s financial history, the liquidity of the underlying collateral and the reliability of the valuation of the underlying collateral. At no time is a borrower’s total borrowing relationship permitted to exceed the Company’s regulatory lending limit and the Company generally limits such relationships to amounts substantially less than the regulatory limit. Loans to related parties, including executive officers and directors of the Company and its subsidiaries, are reviewed for compliance with regulatory guidelines by the Company’s board of directors at least annually. The Company maintains an independent loan review department that reviews the loans for compliance with the Company’s loan policy on a periodic basis. In addition, the loan review department reviews the risk assessments made by the Company’s credit department, lenders and loan committees. Results of these reviews are presented to management and the audit committee at least quarterly. The Company’s lending activities can be summarized into five primary areas: commercial loans, commercial real estate loans, real estate construction loans, retail real estate loans, and other retail loans. A description of each of the lending areas can be found in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015. The significant majority of the Company’s portfolio lending activity occurs in its Illinois and Missouri markets, with the remainder in the Indiana and Florida markets. The Company 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 strong credits, ranging from investment or near investment grade, to loans made to borrowers who exhibit credit fundamentals that exceed industry standards and loan policy guidelines and loans that exhibit acceptable credit fundamentals. · Watch- This category includes loans on management’s “Watch List” and is intended to be utilized on a temporary basis for a pass grade borrower where a significant risk-modifying action is anticipated in the near future. · 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 the Company’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 the Company will sustain some loss if the deficiencies are not corrected. · Doubtful- This category includes “Doubtful” 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. Most commercial lending relationships that are $1.0 million or less are processed through an expedited underwriting process. If the credit receives a pass grade, it is aggregated into a homogenous pool of either: $0.35 million or less, or $0.35 million to $1.0 million. These pools are monitored on a regular basis and reviewed annually. 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 reviewed on a quarterly basis. Interim reviews may take place if circumstances of the borrower warrant a more timely review. Portfolio loans in the highest grades, represented by the pass and watch categories, totaled $3.6 billion at September 30, 2016, compared to $2.5 billion at December 31, 2015. Portfolio loans in the lowest grades, represented by the special mention, substandard and doubtful, totaled $187.0 million at September 30, 2016, compared to $166.8 million at December 31, 2015. The following table is a summary of risk grades segregated by category of portfolio loans (excluding loans held for sale, accretable purchase accounting adjustments, and non-posted and clearings): September 30, 2016 Pass Watch Special Substandard Doubtful (dollars in thousands) Commercial $ $ $ $ $ Commercial real estate Real estate construction Retail real estate Retail other Total $ $ $ $ $ December 31, 2015 Pass Watch Special Substandard Doubtful (dollars in thousands) Commercial $ $ $ $ $ Commercial real estate Real estate construction Retail real estate Retail other — Total $ $ $ $ $ Loans are considered past due if the required principal and interest payments have not been received as of the date such payments were due. 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. When interest accrual is discontinued, all unpaid accrued interest is reversed. Interest income is subsequently recognized only to the extent cash payments are received in excess of the principal due. Loans may be returned to accrual status when all of the principal and interest amounts contractually due are brought current and future payments are reasonably assured. An analysis of portfolio loans that are past due and still accruing or on a non-accrual status is as follows: September 30, 2016 Loans past due, still accruing Non-accrual 30-59 Days 60-89 Days 90+Days Loans (dollars in thousands) Commercial $ $ $ $ Commercial real estate Real estate construction — — Retail real estate Retail other — Total $ $ $ $ December 31, 2015 Loans past due, still accruing Non-accrual 30-59 Days 60-89 Days 90+Days Loans (dollars in thousands) Commercial $ $ $ $ Commercial real estate — Real estate construction — — — Retail real estate — Retail other — Total $ $ $ $ A loan is classified as impaired when, based on current information and events, it is probable the Company will be unable to collect scheduled principal and interest payments when due according to the terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. Loans graded substandard or doubtful and loans classified as a troubled debt restructuring (“TDR”) are assessed for impairment by the Company. Impairment is measured on a loan-by-loan basis for commercial and construction loans based on the present value of the expected future cash flows discounted at the loan’s effective interest rate, the loan’s observable market price, or the fair value of the collateral if the loan is collateral dependent. PCI loans are considered impaired. Large groups of smaller balance homogenous loans are collectively evaluated for impairment. Accordingly, the Company does not separately identify individual consumer and residential loans for impairment unless such loans are the subject of a restructuring agreement. The gross interest income that would have been recorded in the three and nine months ended September 30, 2016 if impaired loans had been current in accordance with their original terms was $0.3 million and $0.7 million, respectively. The amount of interest collected on those loans and recognized on a cash basis that was included in interest income was insignificant for the three and nine months ended September 30, 2016. The Company’s loan portfolio includes certain loans that have been modified in a TDR, where concessions have been granted to borrowers who have experienced financial difficulties. The Company will restructure a loan for its customer after evaluating whether the borrower is able to meet the terms of the loan over the long term, though unable to meet the terms of the loan in the near term due to individual circumstances. The Company considers the customer’s past performance, previous and current credit history, the individual circumstances surrounding the customer’s current difficulties and the customer’s plan to meet the terms of the loan in the future prior to restructuring the terms of the loan. Generally, all five primary areas of lending are restructured through short-term interest rate relief, short-term principal payment relief, short-term principal and interest payment relief or forbearance (debt forgiveness). Once a restructured loan exceeds 90 days past due or is placed on non-accrual status, it is classified as non-performing. A summary of restructured loans as of September 30, 2016 and December 31, 2015 is as follows: Restructured loans: September 30, 2016 December 31, 2015 (dollars in thousands) In compliance with modified terms $ $ 30 — 89 days past due Included in non-performing loans Total $ $ All TDRs are considered to be impaired for purposes of assessing the adequacy of the allowance for loan losses and for financial reporting purposes. When the Company modifies a loan in a TDR, it evaluates any possible impairment similar to other impaired loans based on present value of the expected future cash flows discounted at the loan’s effective interest rate, the loan’s observable market price, or the fair value of the collateral if the loan is collateral dependent. If the Company determines that the fair value of the TDR is less than the recorded investment in the loan, impairment is recognized through an allowance estimate in the period of the modification and in periods subsequent to the modification. Performing loans classified as a TDR during the three months ended September 30, 2016 included one retail real estate modification for short-term principal payment relief, with a recorded investment of $0.2 million. Performing loans classified as TDRs during the nine months ended September 30, 2016 included three commercial real estate modifications for short-term principal payment relief, with an aggregate recorded investment of $0.3 million and three retail real estate modifications for short-term principal payment relief, with an aggregate recorded investment of $0.5 million. Performing loans classified as a TDR during the three months ended September 30, 2015 included one commercial modification for short-term principal payment relief, with a recorded investment of $0.2 million. Performing loans classified as TDRs during the nine months ended September 30, 2015 included one commercial modification for short-term principal payment relief, with a recorded investment of $0.2 million, one retail real estate modification for short-term interest rate relief, with a recorded investment of $0.1 million, and four retail real estate modifications for short-term principal payment relief, with an aggregate recorded investment of $0.4 million. The gross interest income that would have been recorded in the three and nine months ended September 30, 2016 and 2015 if performing TDRs had been performing in accordance with their original terms compared with their modified terms was insignificant. There were no TDRs that were entered into during the last twelve months that were subsequently classified as non-performing and had payment defaults (a default occurs when a loan is 90 days or more past due or transferred to non-accrual) during the three months ended September 30, 2016. TDRs that were entered into during the last twelve months that were subsequently classified as non-performing and had payment defaults during the nine months ended September 30, 2016 consisted of one retail real estate modification totaling $0.1 million and one insignificant retail other modification. There were no TDRs that were entered into during the prior twelve months that were subsequently classified as non-performing and had payment defaults during the three months ended September 30, 2015. TDRs that were entered into during the prior twelve months that were subsequently classified as non-performing and had payment defaults during the nine months ended September 30, 2015 consisted of one commercial real estate modification totaling $0.4 million and one commercial modification totaling $0.6 million. The following tables provide details of impaired loans, segregated by category. The unpaid contractual principal balance represents the recorded balance prior to any partial charge-offs. The recorded investment represents customer balances net of any partial charge-offs recognized on the loan. The average recorded investment is calculated using the most recent four quarters. September 30, 2016 Unpaid Recorded Recorded Total Related Average (dollars in thousands) Commercial $ $ $ $ $ $ Commercial real estate Real estate construction Retail real estate Retail other Total $ $ $ $ $ $ December 31, 2015 Unpaid Recorded Recorded Total Related Average (dollars in thousands) Commercial $ $ $ $ $ $ Commercial real estate Real estate construction Retail real estate Retail other Total $ $ $ $ $ $ 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. Allowance for Loan Losses The allowance for loan losses represents an estimate of the amount of probable losses believed to be inherent in the Company’s loan portfolio at the balance sheet date. The allowance for loan losses is calculated geographically, by class of loans. The allowance calculation involves a high degree of estimation that management attempts to mitigate through the use of objective historical data where available. Loan losses are charged against the allowance for loan losses when management believes the uncollectibility of the loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. Overall, the Company believes the allowance methodology is consistent with prior periods and the balance was adequate to cover the estimated losses in the Company’s loan portfolio at September 30, 2016 and December 31, 2015. The general portion of the Company’s allowance contains two components: (i) a component for historical loss ratios, and (ii) a component for adversely graded loans. The historical loss ratio component is an annualized loss rate calculated using a sum-of-years digits weighted 20-quarter historical average. The Company’s component for adversely graded loans attempts to quantify the additional risk of loss inherent in the special mention and substandard portfolios. The substandard portfolio has an additional allocation of 3.00% placed on such loans, which is an estimate of the additional loss inherent in these loan grades based upon a review of overall historical charge-offs. As of September 30, 2016, the Company believed this reserve remained adequate. Special mention loans have an additional allocation of 1.00% placed on such loans, which is an estimate of the additional loss inherent in these loan grades. As of September 30, 2016, the Company believed this reserve remained adequate. The specific portion of the Company’s allowance relates to loans that are impaired, which includes non-performing loans, TDRs and other loans determined to be impaired. Impaired loans are excluded from the determination of the general allowance for non-impaired loans and are allocated specific reserves as discussed above. Impaired loans are reported at the fair value of the underlying collateral, less estimated costs to sell, if repayment is expected solely from the collateral. Collateral values are estimated using a combination of observable inputs, including recent appraisals discounted for collateral specific changes and current market conditions, and unobservable inputs based on customized discounting criteria. The general reserve quantitative allocation that is based upon historical charge off rates is adjusted for qualitative factors based on current general economic conditions and other qualitative risk factors both internal and external to the Company. In general, such valuation allowances are determined by evaluating, among other things: (i) Management & Staff; (ii) Loan Underwriting, Policy and Procedures; (iii) Internal/External Audit & Loan Review; (iv) Valuation of Underlying Collateral; (v) Macro and Local Economic Factors; (vi) Impact of Competition, Legal & Regulatory Issues; (vii) Nature and Volume of Loan Portfolio; (viii) Concentrations of Credit; (ix) Net Charge-Off Trends; and (x) Non-Accrual, Past Due and Classified Trends. Management evaluates the probable impact from the degree of risk that each one of these components has on the quality of the loan portfolio on a quarterly basis. Based on each component’s risk factor, a qualitative adjustment to the reserve may be applied to the appropriate loan categories. During the third quarter of 2016, the Company did not make adjustments to any qualitative factors. The Company will continue to monitor its qualitative factors on a quarterly basis. The Company holds acquired loans from business combinations with uncollected principal balances. These loans are carried net of a fair value adjustment for credit risk and interest rates and are only included in the allowance calculation to the extent that the reserve requirement exceeds the fair value adjustment. However, as the acquired loans renew, it is generally necessary to establish an allowance, which represents an amount that, in management’s opinion, will be adequate to absorb probable credit losses in such loans. The balance of all acquired loans which did not require a related allowance for loan losses as of September 30, 2016 totaled approximately $1.0 billion. The following table details activity in the allowance for loan losses. Allocation of a portion of the allowance to one category does not preclude its availability to absorb losses in other categories. As of and for the Three Months Ended September 30, 2016 Commercial Commercial Real Estate Retail Real Retail Other Total (dollars in thousands) Beginning balance $ $ $ $ $ $ Provision for loan loss ) Charged-off ) ) — ) ) ) Recoveries Ending Balance $ $ $ $ $ $ As of and for the Nine Months Ended September 30, 2016 Commercial Commercial Real Estate Retail Real Retail Other Total (dollars in thousands) Beginning balance $ $ $ $ $ $ Provision for loan loss ) Charged-off ) ) ) ) ) ) Recoveries Ending Balance $ $ $ $ $ $ As of and for the Three Months Ended September 30, 2015 Commercial Commercial Real Estate Retail Real Retail Other Total (dollars in thousands) Beginning balance $ $ $ $ $ $ Provision for loan loss ) ) ) ) Charged-off — ) — ) ) ) Recoveries Ending Balance $ $ $ $ $ $ As of and for the Nine Months Ended September 30, 2015 Commercial Commercial Real Estate Retail Real Retail Other Total (dollars in thousands) Beginning balance $ $ $ $ $ $ Provision for loan loss ) ) Charged-off ) ) — ) ) ) Recoveries Ending Balance $ $ $ $ $ $ The following table presents the allowance for loan losses and recorded investments in portfolio loans by category: As of September 30, 2016 Commercial Commercial Real Estate Retail Real Retail Other Total (dollars in thousands) Amount allocated to: Loans individually evaluated for impairment $ $ $ $ $ $ Loans collectively evaluated for impairment Ending Balance $ $ $ $ $ $ Loans: Loans individually evaluated for impairment $ $ $ $ $ $ Loans collectively evaluated for impairment PCI loans evaluated for Impairment — Ending Balance $ $ $ $ $ $ As of December 31, 2015 Commercial Commercial Real Estate Retail Real Retail Other Total (dollars in thousands) Amount allocated to: Loans individually evaluated for impairment $ $ $ $ $ $ Loans collectively evaluated for impairment Ending Balance $ $ $ $ $ $ Loans: Loans individually evaluated for impairment $ $ $ $ $ $ Loans collectively evaluated for impairment PCI loans evaluated for Impairment — — — Ending Balance $ $ $ $ $ $

OREO

OREO	9 Months Ended
	Sep. 30, 2016
OREO.
OREO	Note 6: OREO OREO represents properties acquired through foreclosure or other proceedings in settlement of loans. OREO is held for sale and is recorded at the date of foreclosure at the fair value of the properties less estimated costs of disposal, which establishes a new cost basis. Any adjustment to fair value at the time of transfer to OREO is charged to the allowance for loan losses. Properties are evaluated regularly to ensure each recorded amount is supported by its current fair value, and valuation allowances to reduce the carrying amount due to subsequent declines in fair value less estimated costs to dispose are recorded as necessary. Revenue, expense, gains and losses from the operations of foreclosed assets are included in operations. At September 30, 2016, the Company held $1.7 million in commercial OREO, $0.6 million in residential OREO and an insignificant amount of other repossessed assets. At December 31, 2015, the Company held $0.5 million in commercial OREO, $0.3 million in residential OREO and an insignificant amount of other repossessed assets. At September 30, 2016 the Company had $1.8 million of residential real estate in the process of foreclosure. The following table summarizes activity related to OREO: Nine Months Ended Year Ended (dollars in thousands) OREO: Beginning balance $ $ Additions, transfers from loans Additions, fair value from Herget Financial acquisition — Additions, fair value from Pulaski acquisition — Proceeds from sales of OREO ) ) Gain on sales of OREO Valuation allowance for OREO ) — Ending balance $ $

Deposits

Deposits	9 Months Ended
	Sep. 30, 2016
Deposits
Deposits	Note 7: Deposits We continue to focus on deepening our relationship value with customers, which, in turn, fosters deposit growth. In addition, deposit growth was impacted in 2016 by the April 30, 2016 Pulaski acquisition. Total deposits at September 30, 2016 include $1.1 billion in deposits held at Pulaski Bank. The composition of deposits is as follows: September December 30, 2016 31, 2015 (dollars in thousands) Demand deposits, noninterest-bearing $ $ Interest-bearing transaction deposits, saving deposits and money market deposits Time deposits Total $ $ Interest-bearing transaction deposits included $35.0 million and $7.8 million of reciprocal brokered transaction deposits at September 30, 2016 and December 31, 2015, respectively. Savings deposits included $25.3 million of reciprocal brokered deposits at September 30, 2016. There were no reciprocal brokered deposits in savings deposits at December 31, 2015. The aggregate amount of time deposits with a minimum denomination of $100,000 was approximately $373.0 million and $128.1 million at September 30, 2016 and December 31, 2015, respectively. The aggregate amount of time deposits with a minimum denomination that meets or exceeds the FDIC insurance limit of $250,000 was approximately $80.6 million and $23.2 million at September 30, 2016 and December 31, 2015, respectively. National deposits of $0.2 million and $0.4 million were included in the balance of time deposits as of September 30, 2016 and December 31, 2015, respectively. The Company had reciprocal brokered time deposits of $95.5 million and $0.4 million at September 30, 2016 and December 31, 2015, respectively, included in the balance of time deposits. The Company had brokered deposits of $5.0 million at September 30, 2016, which are included in the balance of time deposits. There were no brokered deposits at December 31, 2015. As of September 30, 2016, the scheduled maturities of time deposits, in thousands, are as follows: October 1, 2016 — September 30, 2017 $ October 1, 2017 — September 30, 2018 October 1, 2018 — September 30, 2019 October 1, 2019 — September 30, 2020 October 1, 2020 — September 30, 2021 Thereafter $

Borrowings

Borrowings	9 Months Ended
	Sep. 30, 2016
Borrowings
Borrowings	Note 8: Borrowings Securities sold under agreements to repurchase, which are classified as secured borrowings, generally mature either daily or within one year from the transaction date. 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 the Company’s safekeeping agent. The Company may be required to provide additional collateral based on fluctuations in the fair value of the underlying securities. Short-term borrowings include FHLB advances which mature in less than one year from date of origination. On November 20, 2015, the Company entered into a credit agreement with a national bank to make available a revolving loan facility to the Company in the maximum principal amount of $20.0 million. The loan has an annual interest rate of 2.50% plus the one-month LIBOR rate and has a maturity date of November 19, 2016. The loan also bears a non-usage fee calculated based on the average daily principal balance of the loan outstanding during the prior fiscal quarter. The Company had $10.0 million outstanding on September 30, 2016. The Company had no outstanding amount on December 31, 2015. The following table sets forth the distribution of securities sold under agreements to repurchase and short-term borrowings and weighted average interest rates: September 30, December 31, (dollars in thousands) Securities sold under agreements to repurchase Balance at end of period $ $ Weighted average interest rate at end of period % % Maximum outstanding at any month end in year-to-date period $ $ Average daily balance for the year-to-date period $ $ Weighted average interest rate during period(1) % % Short-term borrowings, FHLB advances Balance at end of period $ $ — Weighted average interest rate at end of period % — % Maximum outstanding at any month end in year-to-date period $ $ — Average daily balance for the year-to-date period $ $ — Weighted average interest rate during period(1) % — % Short-term borrowings, revolving loan Balance at end of period $ $ — Weighted average interest rate at end of period % — % Maximum outstanding at any month end in year-to-date period $ $ — Average daily balance for the year-to-date period $ $ — Weighted average interest rate during period(1) (2) % — % (1) The weighted average interest rate is computed by dividing total annualized interest for the year-to-date period by the average daily balance outstanding. (2) Includes interest and non-usage fee. Long-term debt is summarized as follows: September 30, December 31, (dollars in thousands) Notes payable, FHLB, ranging in original maturity from nineteen months to ten years, collateralized by FHLB deposits, residential and commercial real estate loans and FHLB stock. $ $ As of September 30, 2016, funds borrowed from the FHLB, listed above, consisted of variable-rate notes maturing through September 2024, with interest rates ranging from 0.15% to 0.26%. The weighted average rate on these long-term advances was 0.19% as of September 30, 2016. As of December 31, 2015, funds borrowed from the FHLB, listed above, consisted of variable-rate notes maturing through September 2024, with interest rates ranging from 0.10% to 0.28%. The weighted average rate on these long-term advances was 0.15% as of December 31, 2015.

Junior Subordinated Debt Owed t

Junior Subordinated Debt Owed to Unconsolidated Trusts	9 Months Ended
	Sep. 30, 2016
Junior Subordinated Debt Owed to Unconsolidated Trusts
Junior Subordinated Debt Owed to Unconsolidated Trusts	Note 9: Junior Subordinated Debt Owed to Unconsolidated Trusts First Busey maintains statutory trusts for the sole purpose of issuing and servicing trust preferred securities and related trust common securities. The proceeds from such issuances were used by the trusts to purchase junior subordinated notes of the Company, which are the sole assets of each trust. Concurrent with the issuance of the trust preferred securities, the Company issued guarantees for the benefit of the holders of the trust preferred securities. The trust preferred securities are issues that qualify, and are treated by the Company, as Tier 1 regulatory capital. The Company owns all of the common securities of each trust. The trust preferred securities issued by each trust rank equally with the common securities in right of payment, except that if an event of default under the indenture governing the notes has occurred and is continuing, the preferred securities will rank senior to the common securities in right of payment. In connection with the Pulaski acquisition, the Company acquired similar statutory trusts maintained by Pulaski. The Company had $70.8 million and $55.0 million of junior subordinated debt owed to unconsolidated trusts at September 30, 2016 and December 31, 2015, respectively. The 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 the Company making payment on the related junior subordinated notes. The Company’s obligations under the junior subordinated notes and other relevant trust agreements, in aggregate, constitute a full and unconditional guarantee by the Company of each trust’s obligations under the trust preferred securities issued by each trust. The Company 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 in the table above. The Company does not expect to exercise this right. Under current banking regulations, bank holding companies are allowed to include qualifying trust preferred securities in their Tier 1 Capital for regulatory capital purposes, subject to a 25% limitation to all core (Tier 1) capital elements, net of goodwill and other intangible assets less any associated deferred tax liability. As of September 30, 2016, 100% of the trust preferred securities noted in the table above qualified as Tier 1 capital under the final rule adopted in March 2005.

Earnings Per Common Share

Earnings Per Common Share	9 Months Ended
	Sep. 30, 2016
Earnings Per Common Share
Earnings Per Common Share	Note 10: Earnings Per Common Share Earnings per common share have been computed as follows: Three Months Ended Nine Months Ended 2016 2015 2016 2015 (in thousands, except per share data) Net income available to common stockholders $ $ $ $ Shares: Weighted average common shares outstanding Dilutive effect of outstanding options, warrants and restricted stock units as determined by the application of the treasury stock method Weighted average common shares outstanding, as adjusted for diluted earnings per share calculation Basic earnings per common share $ $ $ $ Diluted earnings per common share $ $ $ $ Basic earnings per share are computed by dividing net income available to common stockholders for the period by the weighted average number of common shares outstanding, which include deferred stock units that are vested but not delivered. Diluted earnings per common share are computed using the treasury stock method and reflects the potential dilution that could occur if the Company’s outstanding stock options were exercised and restricted stock units were vested. Stock options and restricted stock units for which the exercise or the grant price exceeds the average market price over the period have an anti-dilutive effect and are excluded from the calculation. At September 30, 2016, 28,350 outstanding options, 191,278 warrants and 132,017 restricted stock units were anti-dilutive and excluded from the calculation of common stock equivalents. At September 30, 2015, 86,568 outstanding options, 191,278 warrants, and 112,433 restricted stock units were anti-dilutive and excluded from the calculation of common stock equivalents.

Share-based Compensation

Share-based Compensation	9 Months Ended
	Sep. 30, 2016
Share-based Compensation
Share-based Compensation	Note 11: Share-based Compensation The Company grants share-based compensation awards to its employees and members of its board of directors as provided for under the Company’s 2010 Equity Incentive Plan. The Company currently grants share-based compensation in the form of restricted stock units (“RSUs”) and deferred stock units (“DSUs”). The Company grants RSUs to members of management periodically throughout the year. Each RSU is equivalent to one share of the Company’s common stock. These units have a requisite service periods ranging from one to five years. The Company annually grants share-based awards in the form of DSUs, which are RSUs with a deferred settlement date, to its board of directors. Each DSU is equivalent to one share of the Company’s common stock. The DSUs vest over a twelve-month period following the grant date or on the date of the next Annual Meeting of Stockholders, whichever is earlier. These units generally are subject to the same terms as RSUs under the Company’s 2010 Equity Incentive Plan, except that, following vesting, settlement occurs within 30 days following the earlier of separation from the board or a change in control of the Company. Subsequent to vesting and prior to delivery, these units will continue to earn dividend equivalents. The Company also has outstanding stock options granted prior to 2011. Under the terms of the Company’s 2010 Equity Incentive Plan, the Company is allowed, but not required, to source stock option exercises and grants of RSUs and DSUs from its inventory of treasury stock. As of September 30, 2016, the Company held 662,512 shares in treasury. On February 3, 2015, First Busey announced that its board of directors approved a repurchase plan under which the Company is authorized to repurchase up to an aggregate of 666,667 shares of its common stock. The repurchase plan has no expiration date and replaced the prior repurchase plan that was originally approved in 2008. During the third quarter of 2015, the Company purchased 333,333 shares under this repurchase plan. At September 30, 2016 the Company had 333,334 shares that may yet be purchased under the plan. A description of the 2010 Equity Incentive Plan, which was amended in 2015, can be found in the Company’s Proxy Statement for the 2015 Annual Meeting of Stockholders. The Company’s 2010 Equity Incentive Plan is designed to encourage ownership of its common stock by its employees and directors, to provide additional incentive for them to promote the success of its business, and to attract and retain talented personnel. All of the Company’s employees and directors, and those of its subsidiaries, are eligible to receive awards under the plan. In relation to the Pulaski acquisition, the Company assumed stock options that were previously issued under shareholder approved Pulaski incentive plans. At the effective time of the acquisition, each outstanding option to purchase shares of Pulaski common stock was converted automatically into a stock option exercisable for that number of shares of First Busey common stock equal to (i) the number of shares of Pulaski common stock subject to the Pulaski stock option immediately prior to the effective time multiplied by (ii) the exchange ratio (rounded down to the nearest whole share), with an exercise price per share equal to (A) the exercise price per share of Pulaski common stock of the Pulaski stock option immediately prior to the effective time divided by (B) the exchange ratio (rounded up to the nearest whole cent). Each Pulaski stock option assumed and converted continues to be subject to the same terms and conditions, as applicable immediately prior to the effective time. All Pulaski stock options are fully vested. A summary of the status of and changes in the Company’s stock option awards for the nine months ended September 30, 2016 follows: Weighted- Weighted- Average Average Exercise Remaining Contractual Shares Price Term Outstanding at beginning of year $ Converted options from Pulaski Granted — — Exercised ) Forfeited ) Expired ) Outstanding at end of period $ Exercisable at end of period $ The Company did not record any stock option compensation expense for the three or nine months ended September 30, 2016 or 2015. A summary of the changes in the Company’s stock unit awards for the nine months ended September 30, 2016, is as follows: Weighted- Director Weighted- Restricted Average Deferred Average Stock Grant Date Stock Grant Date Units Fair Value Units Fair Value Non-vested at beginning of year $ $ Granted Dividend equivalents earned Vested ) ) Forfeited ) — — Non-vested at end of period $ $ Outstanding at end of period $ $ All recipients earn quarterly dividend equivalents on their respective units. These dividend equivalents are not paid out during the vesting period, but instead entitle the recipients to additional units. Therefore, dividends earned each quarter compound based upon the updated unit balances. Upon vesting/delivery, shares are expected (though not required) to be issued from treasury. On July 11, 2016, under the terms of the 2010 Equity Incentive Plan, the Company granted 126,669 RSUs to members of management. As the stock price on the grant date of July 11, 2016 was $22.44, total compensation cost to be recognized is $2.8 million. This cost will be recognized over a period of five years. Subsequent to the requisite service period, the awards will vest 100%. In addition, on July 11, 2016, under the terms of the 2010 Equity Incentive Plan, the Company granted 15,830 DSUs to directors. As the stock price on the grant date of July 11, 2016 was $22.44, total compensation cost to be recognized is $0.4 million. The Company also granted 1,250 DSUs to a new director on July 25, 2016. As the stock price on the grant date of July 25, 2016 was $22.39, total compensation cost to be recognized is insignificant. These costs will be recognized over the requisite service period of one year from the date of grant or the next Annual Meeting of Stockholders; whichever is earlier. Further, the Company granted 5,348 DSUs to the Chairman of the Board. As the stock price on the grant date of July 11, 2016 was $22.44, total compensation cost to be recognized is $0.1 million. This cost will be recognized over a period of five years. Subsequent to the requisite service period, the awards will vest 100%. In relation to the Pulaski acquisition, the Company also assumed performance based restricted stock unit awards. At the effective time of the acquisition, the number of Pulaski common shares covered by each award was fixed at the target level under Pulaski’s existing plan and automatically converted into a service-based restricted stock unit award of First Busey common stock that is equal to the number of shares of Pulaski common stock multiplied by the exchange ratio. Following the change in control, each restricted stock award will vest, without regard to any performance metrics, on the earlier to occur of September 30, 2017 or the award holders’ involuntary termination of employment for reasons other than cause or voluntary termination of employment for good reason, as specified in the award agreement. Dividends related to these units are accrued and will be paid in cash upon vesting. At September 30, 2016 these awards represented 53,004 First Busey restricted stock units. The Company recognized $0.5 million and $0.4 million of compensation expense related to non-vested stock units for the three months ended September 30, 2016 and 2015, respectively. The Company recognized $1.3 million and $1.0 million of compensation expense related to non-vested stock units for the nine months ended September 30, 2016 and 2015, respectively. As of September 30, 2016, there was $6.4 million of total unrecognized compensation cost related to these non-vested stock units. This cost is expected to be recognized over a period of 3.6 years.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2016
Income Taxes
Income Taxes	Note 12: Income Taxes At September 30, 2016, the Company was not under examination by any tax authority.

Outstanding Commitments and Con

Outstanding Commitments and Contingent Liabilities	9 Months Ended
	Sep. 30, 2016
Outstanding Commitments and Contingent Liabilities
Outstanding Commitments and Contingent Liabilities	Note 13: Outstanding Commitments and Contingent Liabilities Legal Matters The Company is a party to legal actions which arise in the normal course of its business activities. In the opinion of management, the ultimate resolution of these matters is not expected to have a material effect on the financial position or the results of operations of the Company. Credit Commitments and Contingencies The Company is a party to credit-related financial instruments with off-balance-sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit. Those instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the Consolidated Balance Sheets. The Company’s exposure to credit loss is represented by the contractual amount of those commitments. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance-sheet instruments. A summary of the contractual amount of the Company’s exposure to off-balance-sheet risk relating to the Company’s commitments to extend credit and standby letters of credit follows: September 30, 2016 December 31, 2015 (dollars in thousands) Financial instruments whose contract amounts represent credit risk: Commitments to extend credit $ $ Standby letters of credit 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 and generally have fixed expiration dates or other termination clauses and may require payment of a fee. The commitments for equity lines of credit may expire without being drawn upon. Therefore, the total commitment amounts do not necessarily represent future cash requirements. The amount of collateral obtained, if it is deemed necessary by the Company upon extension of credit, is based on management’s credit evaluation of the customer. Standby letters of credit are conditional commitments issued by the Company 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 and primarily have terms of one year or less. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. The Company 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, the Company would be required to fund the commitment. The maximum potential amount of future payments the Company could be required to make is represented by the contractual amount shown in the summary above. If the commitment is funded, the Company would be entitled to seek recovery from the customer. As of September 30, 2016 and December 31, 2015, no amounts were recorded as liabilities for the Company’s potential obligations under these guarantees. Other Commitments From time to time, the Company will sign contracts for construction projects relating to the Company’s facilities.

Capital

Capital	9 Months Ended
	Sep. 30, 2016
Capital
Capital	Note 14: Capital The ability of the Company to pay cash dividends to its stockholders and to service its debt was historically 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. Because Busey Bank has been in a retained earnings deficit position since 2009, it has not been able to pay dividends since that time. With prior approval from its regulators, however, an Illinois state-chartered bank in this situation may be able to reduce its capital stock, by amending its charter to decrease the authorized number of shares, and then make a subsequent distribution to its holding company. Using this approach, and with the approval of its regulators, Busey Bank has distributed funds to the Company, the most recent of which was $30.0 million on October 21, 2016. The Company expects to seek regulatory approval for additional capital distributions in future periods. Pulaski Bank is a national bank regulated by the Office of the Comptroller of the Currency (“OCC”). Under federal regulations, the approval of the OCC is required prior to any capital distribution when the total amount of capital distributions for the current calendar year exceeds net income for that year plus retained net income for the preceding two years. In connection with the application of the acquisition method of accounting, Pulaski Bank’s retained earnings were reduced to zero at the date of the acquisition. Accordingly, the amount of Pulaski Bank’s capital available for distribution to the Company without prior regulatory approval is limited to Pulaski Bank’s undistributed earnings since the date of the acquisition. The Company and both of its subsidiary banks are subject to regulatory capital requirements administered by federal and/or state agencies that involve the quantitative measure of their assets, liabilities, and certain off-balance-sheet items, as calculated under regulatory accounting practices. Quantitative measures established by regulations to ensure capital adequacy require the Company and the banks to maintain minimum dollar amounts and ratios of such to risk weighted assets (as defined in the regulations and set forth in the table below) of total capital, Tier 1 capital and Common Equity Tier 1 capital, and for both of the subsidiary banks, Tier 1 capital to average assets. Failure to meet minimum capital requirements may cause regulatory bodies to initiate certain discretionary and/or mandatory actions that, if undertaken, could have a direct material effect on our financial statements. The Company, as a financial holding company, is required to be “well capitalized” in the capital categories shown in the table below. As of September 30, 2016, the Company and both of its subsidiary banks met all capital adequacy requirements to which they were subject, including the guidelines to be considered “well capitalized.” The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (the “Dodd-Frank Act”) established minimum capital levels for bank holding companies on a consolidated basis. The components of Tier 1 capital are restricted to capital instruments that, at the time of signing, were considered to be Tier 1 capital for insured depository institutions. Under this legislation, the Company is able to maintain its trust preferred securities as Tier 1 capital, but it will have to comply with new capital mandates in other respects, and it will not be able to raise Tier 1 capital through the issuance of trust preferred securities in the future. In July 2013, the U.S. federal banking authorities approved the implementation of the Basel III regulatory capital reforms and issued rules effecting certain changes required by the Dodd-Frank Act (the “Basel III Rules”). The Basel III Rules are applicable to all U.S. banks that are subject to minimum capital requirements, as well as to bank and savings and loan holding companies other than “small bank holding companies” (generally non-public bank holding companies with consolidated assets of less than $1 billion). The Basel III Rules not only increased most of the required minimum regulatory capital ratios, but they also introduced a new Common Equity Tier 1 Capital ratio and the concept of a capital conservation buffer. The Basel III Rules also expanded the definition of capital as in effect currently by establishing criteria that instruments must meet to be considered Additional Tier 1 Capital (Tier 1 Capital in addition to Common Equity) and Tier 2 Capital. A number of instruments that generally qualified as Tier 1 Capital under the old guidelines no longer qualify, or their qualifications will change, as the Basel III Rules are being fully implemented. The Basel III Rules also permitted banking organizations with less than $15.0 billion in assets to retain, through a one-time election, the past treatment for accumulated other comprehensive income, which did not affect regulatory capital. First Busey and both of its subsidiary banks made this election in the first quarter of 2015 to avoid variations in the level of their capital depending on fluctuations in the fair value of their securities portfolio. The Basel III Rules maintained the general structure of the prompt corrective action framework, while incorporating increased requirements. The prompt corrective action guidelines were also revised to add the Common Equity Tier 1 Capital ratio. Under the final capital rules that became effective on January 1, 2015, there was a requirement for a Common Equity Tier 1 capital conservation buffer of 2.5% of risk weighted assets which is in addition to the other minimum risk based capital standards in the rule. Failure to maintain the buffer will result in restrictions on the Company’s ability to make capital distributions, including the payment of dividends, and to pay discretionary bonuses to executive officers. The capital buffer requirement is being phased-in over three years beginning in 2016. The table below includes the 0.625% increase for 2016 in the minimum capital requirement ratios. The capital buffer requirement effectively raises the minimum required Common Equity Tier 1 Capital ratio to 7.0%, the Tier 1 Capital ratio to 8.5%, and the Total Capital ratio to 10.5% on a fully phased-in basis on January 1, 2019. As of September 30, 2016, the Company and both of its subsidiary banks were in compliance with the current phase of the Basel III Rules and management believes that the Company and both of its subsidiary banks would meet all capital adequacy requirements under the Basel III Rules on a fully phased-in basis as if such requirements had been in effect. Minimum Actual Capital Requirement with Minimum To Be Amount Ratio Amount Ratio Amount Ratio (dollars in thousands) As of September 30, 2016: Total Capital (to Risk Weighted Assets) Consolidated $ % $ % $ % Busey Bank $ % $ % $ % Pulaski Bank $ % $ % $ % Tier 1 Capital (to Risk Weighted Assets) Consolidated $ % $ % $ % Busey Bank $ % $ % $ % Pulaski Bank $ % $ % $ % Common Equity Tier 1 Capital (to Risk Weighted Assets) Consolidated $ % $ % $ % Busey Bank $ % $ % $ % Pulaski Bank $ % $ % $ % Tier 1 Capital (to Average Assets) Consolidated $ % $ % N/A N/A Busey Bank $ % $ % $ % Pulaski Bank $ % $ % $ %

Operating Segments and Related

Operating Segments and Related Information	9 Months Ended
	Sep. 30, 2016
Operating Segments and Related Information
Operating Segments and Related Information	Note 15: Operating Segments and Related Information The Company has three reportable operating segments, Banking, Remittance Processing and Wealth Management. The Banking operating segment provides a full range of banking services to individual and corporate customers through its branch network in downstate Illinois, Missouri, southwest Florida and through its branch in Indianapolis, Indiana. Banking services for Busey Bank and Pulaski Bank are aggregated into the Banking operating segment as they have similar operations and activities. The Remittance Processing operating segment provides for online bill payments, lockbox and walk-in payments. The Wealth Management operating segment provides a full range of asset management, investment and fiduciary services to individuals, businesses and foundations, tax preparation, philanthropic advisory services and farm and brokerage services. The Company’s three operating segments are strategic business units that are separately managed as they offer different products and services and have different marketing strategies. The “other” category consists of the Parent Company and the elimination of intercompany transactions. The segment financial information provided below has been derived from the internal accounting system used by management to monitor and manage the financial performance of the Company. The accounting policies of the three segments are the same as those described in the summary of significant accounting policies in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015. Effective for the year ended December 31, 2015, the Company realigned its operating segments. Results for the operating segments were revised for prior periods to reflect the impact of this realignment. Following is a summary of selected financial information for the Company’s operating segments (dollars in thousands) : Goodwill Total Assets September 30, December 31, September 30, December 31, Banking $ $ $ $ Remittance Processing Wealth Management Other — — ) ) Totals $ $ $ $ Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Net interest income: Banking $ $ $ $ Remittance Processing Wealth Management Other ) ) ) ) Total net interest income $ $ $ $ Non-interest income: Banking $ $ $ $ Remittance Processing Wealth Management Other ) ) ) ) Total non-interest income $ $ $ $ Non-interest expense: Banking $ $ $ $ Remittance Processing Wealth Management Other Total non-interest expense $ $ $ $ Income before income taxes: Banking $ $ $ $ Remittance Processing Wealth Management Other ) ) ) ) Total income before income taxes $ $ $ $ Net income: Banking $ $ $ $ Remittance Processing Wealth Management Other ) ) ) ) Total net income $ $ $ $

Derivative Financial Instrument

Derivative Financial Instruments	9 Months Ended
	Sep. 30, 2016
Derivative Financial Instruments
Derivative Financial Instruments	Note 16: Derivative Financial Instruments The Company originates and purchases 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 loan investors and foreign currency forward contracts. See Note 17 - Fair Value Measurements for further discussion of the fair value measurement of such derivatives. Interest Rate Lock Commitments . At September 30, 2016, the Company had issued $384.1 million of unexpired interest rate lock commitments to loan customers. Such interest rate lock commitments that meet the definition of derivative financial instruments under ASC Topic 815, Derivatives and Hedging, are carried at their fair values in other assets or other liabilities in the unaudited Consolidated Financial Statements, with changes in the fair values of the corresponding derivative financial assets or liabilities recorded as either a charge or credit to current earnings during the period in which the changes occurred. Forward Sales Commitments . At September 30, 2016, the Company had issued $626.5 million of unexpired forward sales commitments to mortgage loan investors. Typically, the Company 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 best-efforts forward sales commitments with an investor to sell the loans at an agreed-upon price at the time the interest rate locks are issued to the customers. Forward sales commitments that meet the definition of derivative financial instruments under ASC Topic 815, Derivatives and Hedging , are carried at their fair values in other assets or other liabilities in the unaudited Consolidated Financial Statements . While such forward sales commitments generally served as an economic hedge to the mortgage loans held for sale and interest rate lock commitments, the Company 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. The fair values of these derivative assets and liabilities recorded in the consolidated balance sheets at September 30, 2016 are summarized as follows (dollars in thousands) : September 30, 2016 Fair value recorded in other assets $ Fair value recorded in other liabilities The gross gains and losses on these derivative assets and liabilities recorded in non-interest income and expense in the Consolidated Statements of Income for the nine months ended September 30, 2016 are summarized as follows (dollars in thousands) : September 30, 2016 Gross gains $ Gross losses ) Net losses ) At September 30, 2016, the impact of the net loss on derivative financial instruments related to interest rate lock commitments issued to residential loan customers for loans that will be held for sale and forward sales commitments to sell residential mortgage loans to loan investors was almost entirely offset by a corresponding increase in the fair value of loans held for sale. Foreign Currency Derivatives. The Company has originated certain loan agreements that settle in non-U.S. dollar denominations. The gross balance of such loans, translated into U.S. dollars, was $1.0 million at September 30, 2016. The Company enters into foreign currency forward contracts to mitigate the economic effect of fluctuations in foreign currency exchange rates on these non-U.S. dollar denominated loans. Such foreign currency forward contracts that meet the definition of derivative financial instruments under ASC Topic 815, Derivatives and Hedging , are carried at their fair values in other assets or other liabilities in the unaudited Consolidated Financial Statements. While such forward contracts generally served as an economic hedge to certain loans, the Company 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. The gross gains and losses on these derivative assets and liabilities recorded in non-interest income and expense in the Consolidated Statements of Income for the nine months ended September 30, 2016 was insignificant. The notional amount and fair values, denominated in U.S. dollars, of open foreign currency forward contracts were as follows: September 30, 2016 (dollars in thousands) Notional amount $ Fair value recorded in other liabilities Foreign currency forward contracts involve the risk of dealing with counterparties and their ability to meet contractual terms. We believe the risk of incurring losses due to nonperformance by our counterparties is manageable.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2016
Fair Value Measurements
Fair Value Measurements	Note 17: 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 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. In estimating fair value, the Company utilizes valuation techniques that are consistent with the market approach, the income approach and/or the cost approach. Such valuation techniques are consistently applied. Inputs to valuation techniques include the assumptions that market participants would use in pricing an asset or liability. FASB ASC Topic 820 establishes a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows: Level 1 Inputs - Unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 2 Inputs - Inputs other than quoted prices included in level 1 that are observable for the asset or liability, either directly or indirectly. These might include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (such as interest rates, volatilities, prepayment speeds, credit risks, etc.) or inputs that are derived principally from or corroborated by market data by correlation or other means. Level 3 Inputs - Unobservable inputs for determining the fair values of assets or liabilities that reflect the Company’s own assumptions about the assumptions that market participants would use in pricing the assets or liabilities. A description of the valuation methodologies used for instruments measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy, is set forth below. These valuation methodologies were applied to those Company assets and liabilities that are carried at fair value. There were no transfers between levels during the quarter ended September 30, 2016. In general, fair value is based upon quoted market prices, when available. If such quoted market prices are not available, fair values are measured utilizing independent valuation techniques of identical or similar securities for which significant assumptions are derived primarily from or corroborated by observable data. Valuation adjustments may be made to ensure that financial instruments are recorded at fair value. These adjustments may include amounts to reflect, among other things, counterparty credit quality and the company’s creditworthiness as well as unobservable parameters. Any such valuation adjustments are applied consistently over time. The Company’s valuation methodologies may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. While management believes the Company’s valuation methodologies are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date. Furthermore, the reported fair value amounts have not been comprehensively revalued since the presentation dates and, therefore, estimates of fair value after the balance sheet date may differ significantly from the amounts presented herein. Securities Available for Sale . Securities classified as available for sale are reported at fair value utilizing level 1 and level 2 measurements. For mutual funds and other equity securities, unadjusted quoted prices in active markets for identical assets are utilized to determine fair value at the measurement date and have been classified as level 1 in the ASC 820 fair value hierarchy. For all other securities, the Company obtains fair value measurements from an independent pricing service. The independent pricing service evaluations are based on market data. 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 as appropriate through processes such as benchmark curves, benchmarking of like securities, sector groupings, and matrix pricing, to prepare evaluations. In addition, the independent pricing service uses model processes, such as the Option Adjusted Spread model, to assess interest rate impact and develop prepayment scenarios. The 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. The 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. Information of this nature is a trigger to acquire further market data. 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 in the ASC 820 fair value hierarchy. Loans held for sale. Beginning on January 1, 2016, the Company elected to adopt the fair value option for all residential mortgage loans held for sale and to account for such loans at their fair values with changes in fair value recognized in earnings, consistent with the provisions in ASC 820. The Company accounted for held for sale loans that were originated prior to January 1, 2016 under the lower of cost or fair value option, with any corresponding adjustments recorded as a valuation adjustment, if necessary. Such fair value adjustments are recorded as a component of gain on sales of loans, net in the accompanying unaudited Consolidated Financial Statements. The fair value of the mortgage loans held for sale are measured using observable quoted market or contract prices or market price equivalents and are classified as level 2 in the ASC 820 fair value hierarchy. Derivative Assets and Derivative Liabilities. Derivative assets and derivative liabilities are reported at fair value utilizing level 2 measurements. Derivative instruments with positive fair values are reported as assets and derivative instruments with negative fair value are reported as liabilities. The fair value of derivative assets and liabilities is determined based on prices that are obtained from a third party. Values of derivative assets and liabilities are primarily based on observable inputs and are classified as level 2 in the ASC 820 fair value hierarchy. The following table summarizes financial assets and financial liabilities measured at fair value on a recurring basis as of September 30, 2016 and December 31, 2015, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value (dollars in thousands) : Level 1 Level 2 Level 3 Total Inputs Inputs Inputs Fair Value September 30, 2016 Securities available for sale U.S. Treasury securities $ — $ $ — $ Obligations of U.S. government corporations and agencies — — Obligations of states and political subdivisions — — Residential mortgage-backed securities — — Corporate debt securities — — Mutual funds and other equity securities — — Loans Loans held for sale — — Derivative assets Derivative financial assets — — Derivative liabilities Foreign currency forward contracts — — Derivative financial liabilities — — Level 1 Level 2 Level 3 Total Inputs Inputs Inputs Fair Value December 31, 2015 Securities available for sale U.S. Treasury securities $ — $ $ — $ Obligations of U.S. government corporations and agencies — — Obligations of states and political subdivisions — — Residential mortgage-backed securities — — Corporate debt securities — — Mutual funds and other equity securities — — Derivative assets Foreign currency forward contracts — — Derivative liabilities Foreign currency forward contracts — — Certain financial assets and financial liabilities are measured at fair value on a non-recurring basis; that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment). Impaired Loans . The Company does not record loans at fair value on a recurring basis. However, periodically, a loan is considered impaired and is reported at the fair value of the underlying collateral, less estimated costs to sell, if repayment is expected solely from the collateral. Impaired loans measured at fair value typically consist of loans on non-accrual status and restructured loans in compliance with modified terms. 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 the unobservable inputs, all impaired loan fair values have been classified as level 3 in the ASC 820 fair value hierarchy. OREO. Non-financial assets and non-financial liabilities measured at fair value include OREO (upon initial recognition or subsequent impairment). OREO properties are measured using a combination of observable inputs, including recent appraisals, and unobservable inputs based on customized discounting criteria. Due to the significance of the unobservable inputs, all OREO fair values have been classified as level 3 in the ASC 820 fair value hierarchy. The following table summarizes assets and liabilities measured at fair value on a non-recurring basis as of September 30, 2016 and December 31, 2015, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value (dollars in thousands) : Level 1 Level 2 Level 3 Total Inputs Inputs Inputs Fair Value September 30, 2016 Impaired loans $ — $ — $ $ OREO(1) — — — — December 31, 2015 Impaired loans $ — $ — $ $ OREO(1) — — — — (1)OREO fair value was less than one thousand dollars. The following table presents additional quantitative information about assets measured at fair value on a non-recurring basis for which the Company has utilized level 3 inputs to determine fair value (dollars in thousands) : Quantitative Information about Level 3 Fair Value Measurements Fair Value Valuation Unobservable Range Estimate Techniques Input (Weighted Average) September 30, 2016 Impaired loans $ Appraisal of collateral Appraisal adjustments -1.5% to -100.0% OREO(1) — Appraisal of collateral Appraisal adjustments -100.0% December 31, 2015 Impaired loans $ Appraisal of collateral Appraisal adjustments -4.3% to -100.0% OREO(1) — Appraisal of collateral Appraisal adjustments -100.0% (1)OREO fair value was less than one thousand dollars. The estimated fair values of financial instruments that are reported at amortized cost in the Company’s Consolidated Balance Sheets, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value, were as follows (dollars in thousands) : September 30, 2016 December 31, 2015 Carrying Fair Carrying Fair Amount Value Amount Value Financial assets: Level 1 inputs: Cash and due from banks $ $ $ $ Federal funds sold — — Level 2 inputs: Securities held to maturity Loans held for sale(2) — — Accrued interest receivable Level 3 inputs: Net portfolio loans Mortgage servicing rights Financial liabilities: Level 2 inputs: Deposits $ $ $ $ Securities sold under agreements to repurchase Short-term borrowings — — Long-term debt Junior subordinated debt owed to unconsolidated trusts Accrued interest payable (2)Effective January 1, 2016, measured at fair value on a recurring basis. FASB ASC Topic 825 requires disclosure of the fair value of financial assets and financial liabilities, including those financial assets and financial liabilities that are not measured and reported at fair value on a recurring basis or non-recurring basis. A detailed description of the valuation methodologies used in estimating the fair value of financial instruments is set forth in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015 or is described below. The fair value of net portfolio loans reflects general changes in the interest rate curve used to calculate fair values based on cash flows. The carrying amount approximates fair value for federal funds sold and is classified as level 1 in the ASC 820 fair value hierarchy. The fair value of mortgage servicing rights is estimated by discounting the future cash flows and classified as level 3 in the ASC 820 fair value hierarchy. The estimated fair value of short-term borrowings, which includes advances from the FHLB, is determined by discounting the future cash flows of existing advances using rates currently available on advances from the FHLB having similar characteristics and is classified as level 2 in the ASC 820 fair value hierarchy.

Liability for Loans Sold

Liability for Loans Sold	9 Months Ended
	Sep. 30, 2016
Liability for Loans Sold.
Liability for Loans Sold	Note 18: Liability for Loans Sold The Company records an estimated liability for probable amounts due to the Company’s loan investors under contractual obligations related to residential mortgage loans originated for sale that were previously sold and became delinquent or defaulted, or were determined to contain certain documentation or other underwriting deficiencies. Under standard representations and warranties and early payment default clauses in the Company’s mortgage sale agreements, the Company could be required to repurchase mortgage loans sold to investors or reimburse the investors for losses incurred on loans (collectively “repurchase”) in the event of borrower default within a defined period after origination (generally 90 days), or in the event of breaches of contractual representations or warranties made at the time of sale that are not remedied within a defined period after the Company receives notice of such breaches (generally 90 days). In addition, the Company may be required to refund the profit received from the sale of a loan to an investor if the borrower pays off the loan within a defined period after origination, which is generally 120 days. The Company establishes a mortgage repurchase liability related to these events that reflects management’s estimate of losses on loans for which the Company could have a repurchase obligation based on a combination of factors. Such factors incorporate the volume of loans sold in current and previous periods, borrower default expectations, historical investor repurchase demand and appeals success rates (where the investor rescinds the demand based on a cure of the defect or acknowledges that the loan satisfies the investor’s applicable representations and warranties), and estimated loss severity. Payments made to investors as reimbursement for losses incurred are charged against the mortgage repurchase liability. Loans repurchased from investors are initially recorded at fair value, which becomes the Company’s new accounting basis. Any difference between the loan’s fair value and the outstanding principal amount is charged or credited to the mortgage repurchase liability, as appropriate. Subsequent to repurchase, such loans are carried in loans on the Company’s balance sheet. Loans repurchased with deteriorated credit quality at the date of repurchase are accounted for under ASC Topic 310-30. The liability for loans sold of $1.9 million at September 30, 2016 represents the Company’s best estimate of the probable losses that the Company will incur for various early default provisions and contractual representations and warranties associated with the sales of mortgage loans. Because the level of mortgage loan repurchase losses depends upon economic factors, investor demand strategies and other external conditions that may change over the life of the underlying loans, the level of the liability for mortgage loan repurchase losses is difficult to estimate and requires considerable management judgment. In addition, the Company does not service the loans that it sells to investors and is generally unable to track the remaining unpaid balances or delinquency status after sale. As a result, there may be a range of possible losses in excess of the estimated liability that cannot be estimated. Management maintains regular contact with the Company’s investors to monitor and address their repurchase demand practices and concerns.

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2016
Acquisitions
Schedule of assets acquired and liabilities assumed of Pulaski and their initial fair value estimates	The following table presents the assets acquired and liabilities assumed of Pulaski as of April 30, 2016 and their fair value estimates (dollars in thousands) : As Recorded by Fair Value As Recorded by Assets acquired: Cash and cash equivalents $ $ — $ Securities (a) Loans held for sale — Portfolio loans ) (b) Premises and equipment (c) OREO ) (d) Goodwill ) (e) — Other intangible assets — (f) Other assets ) (g) Total assets acquired ) Liabilities assumed: Deposits (h) Other borrowings (i) Trust preferred securities ) (j) Other liabilities ) (k) Total liabilities assumed ) Net assets acquired $ $ ) $ Consideration paid: Cash $ Common stock Fair value of stock options assumed Total consideration paid Goodwill $ Explanation: (a) Fair value adjustments of the securities portfolio as of the acquisition date. (b) Fair value adjustments based on the Company’s evaluation of the acquired loan portfolio, write-off of net deferred loan costs and elimination of the allowance for loan losses recorded by Pulaski. $16.9 million is expected to be accreted over the estimated four year remaining life of the respective loans in a manner that approximates the level yield method. (c) Fair value adjustments based on the Company’s evaluation of the acquired premises and equipment. (d) Fair value adjustment based on the Company’s evaluation of the acquired OREO portfolio. (e) Eliminate Pulaski’s existing goodwill. (f) Recording of the core deposit intangible asset on the acquired core deposit accounts. Amount to be amortized using a sum of years digits method over a 14 year useful life. (g) Fair value adjustment of other assets at the acquisition date. (h) Fair value adjustment to time deposits. Amount to be accreted over two years in a manner that approximates the level yield method. (i) Fair value adjustment to the FHLB borrowings. Such borrowings were repaid shortly after the acquisition date, so there will be no discount accretion. (j) Fair value adjustment to the trust preferred securities at the acquisition date. Amount to be accreted over the weighted average remaining life of 18 years in a manner that approximates the level yield method. (k) Fair value adjustment of other liabilities at the acquisition date.
Schedule of unaudited pro forma results of operations for the Pulaski acquisition	Pro Forma Pro Forma Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 (dollars in thousands) Total revenues (net interest income plus non-interest income) $ $ $ $ Net income Diluted earnings per common share

Securities (Tables)

Securities (Tables)	9 Months Ended
	Sep. 30, 2016
Securities
Schedule of amortized cost, unrealized gains and losses and fair values of securities classified available for sale and held to maturity	September 30, 2016: Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (dollars in thousands) Available for sale U.S. Treasury securities $ $ $ — $ Obligations of U.S. government corporations and agencies — Obligations of states and political subdivisions ) Residential mortgage-backed securities ) Corporate debt securities ) Total debt securities ) Mutual funds and other equity securities — Total $ $ $ ) $ Held to maturity Obligations of states and political subdivisions $ $ $ ) $ Commercial mortgage-backed securities — Total $ $ $ ) $ December 31, 2015: Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (dollars in thousands) Available for sale U.S. Treasury securities $ $ $ ) $ Obligations of U.S. government corporations and agencies ) Obligations of states and political subdivisions ) Residential mortgage-backed securities ) Corporate debt securities ) Total debt securities ) Mutual funds and other equity securities — Total $ $ $ ) $ Held to maturity Obligations of states and political subdivisions $ $ $ ) $ Commercial mortgage-backed securities — Total $ $ $ ) $
Schedule of amortized cost and fair value of debt securities available for sale and held to maturity by contractual maturity	Available for sale Held to maturity Amortized Fair Amortized Fair Cost Value Cost Value (dollars in thousands) Due in one year or less $ $ $ $ Due after one year through five years Due after five years through ten years Due after ten years Total $ $ $ $
Schedule of realized gains and losses related to sales of securities available for sale	Three Months Ended Nine Months Ended 2016 2015 2016 2015 (dollars in thousands) Gross security gains $ $ — $ $ Gross security (losses) ) — ) ) Net security gains (losses) $ $ — $ $ )
Schedule of securities with gross unrealized losses aggregated by investment category and length of time that individual securities have been in continuous loss position	September 30, 2016: Continuous unrealized Continuous unrealized Total, gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (dollars in thousands) Available for sale Obligations of U.S. government corporations and agencies(1) $ $ — $ — $ — $ $ — Obligations of states and political subdivisions ) ) ) Residential mortgage-backed securities(1) ) — — ) Corporate debt securities ) — — ) Total temporarily impaired securities $ $ ) $ $ ) $ $ ) Held to maturity Obligations of states and political subdivisions $ $ ) $ — $ — $ $ ) Total temporarily impaired securities $ $ ) $ — $ — $ $ ) (1) Unrealized losses existing for less than 12 months, gross, was less than one thousand dollars. December 31, 2015: Continuous unrealized Continuous unrealized Total, gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (dollars in thousands) Available for sale U.S. Treasury securities $ $ ) $ — $ — $ $ ) Obligations of U.S. government corporations and agencies ) — — ) Obligations of states and political subdivisions ) ) ) Residential mortgage-backed securities ) — — ) Corporate debt securities ) — — ) Total temporarily impaired securities $ $ ) $ $ ) $ $ ) Held to maturity Obligations of states and political subdivisions(2) $ $ ) $ $ — $ $ ) Total temporarily impaired securities $ $ ) $ $ — $ $ ) (2) Unrealized losses existing for greater than 12 months, gross, was less than one thousand dollars.
General obligation bonds
Securities
Summary of amortized cost and fair values of the Company's portfolio of municipal bonds by issuer state	September 30, 2016: Average Exposure Number of Amortized Fair Per Issuer U.S. State Issuers Cost Value (Fair Value) (dollars in thousands) Illinois $ $ $ Wisconsin Michigan Pennsylvania Texas Ohio Iowa Other Total general obligations bonds $ $ $ December 31, 2015: Average Exposure Number of Amortized Fair Per Issuer U.S. State Issuers Cost Value (Fair Value) (dollars in thousands) Illinois $ $ $ Wisconsin Michigan Pennsylvania Texas Ohio Iowa Other Total general obligations bonds $ $ $
Revenue bonds
Securities
Summary of amortized cost and fair values of the Company's portfolio of municipal bonds by issuer state	September 30, 2016: Average Exposure Number of Amortized Fair Per Issuer U.S. State Issuers Cost Value (Fair Value) (dollars in thousands) Indiana $ $ $ Illinois Other Total revenue bonds $ $ $ December 31, 2015: Average Exposure Number of Amortized Fair Per Issuer U.S. State Issuers Cost Value (Fair Value) (dollars in thousands) Indiana $ $ $ Illinois Other Total revenue bonds $ $ $

Loans (Tables)

Loans (Tables)	9 Months Ended
	Sep. 30, 2016
Loans
Schedule of distributions of loans	September 30, December 31, (dollars in thousands) Commercial $ $ Commercial real estate Real estate construction Retail real estate Retail other Total gross loans $ $ Less loans held for sale(1) Gross portfolio loans $ $ Less allowance for loan losses Net portfolio loans $ $ (1)Loans held for sale are included in retail real estate.
Summary of risk grades segregated by category of portfolio loans (excluding loans held for sale, accretable purchase accounting adjustments, and non-posted clearings)	September 30, 2016 Pass Watch Special Substandard Doubtful (dollars in thousands) Commercial $ $ $ $ $ Commercial real estate Real estate construction Retail real estate Retail other Total $ $ $ $ $ December 31, 2015 Pass Watch Special Substandard Doubtful (dollars in thousands) Commercial $ $ $ $ $ Commercial real estate Real estate construction Retail real estate Retail other — Total $ $ $ $ $
Schedule of analysis of portfolio loans that are past due and still accruing or on a non-accrual status	September 30, 2016 Loans past due, still accruing Non-accrual 30-59 Days 60-89 Days 90+Days Loans (dollars in thousands) Commercial $ $ $ $ Commercial real estate Real estate construction — — Retail real estate Retail other — Total $ $ $ $ December 31, 2015 Loans past due, still accruing Non-accrual 30-59 Days 60-89 Days 90+Days Loans (dollars in thousands) Commercial $ $ $ $ Commercial real estate — Real estate construction — — — Retail real estate — Retail other — Total $ $ $ $
Summary of restructured loans	Restructured loans: September 30, 2016 December 31, 2015 (dollars in thousands) In compliance with modified terms $ $ 30 — 89 days past due Included in non-performing loans Total $ $
Schedule of details of impaired loans, segregated by category	September 30, 2016 Unpaid Recorded Recorded Total Related Average (dollars in thousands) Commercial $ $ $ $ $ $ Commercial real estate Real estate construction Retail real estate Retail other Total $ $ $ $ $ $ December 31, 2015 Unpaid Recorded Recorded Total Related Average (dollars in thousands) Commercial $ $ $ $ $ $ Commercial real estate Real estate construction Retail real estate Retail other Total $ $ $ $ $ $
Schedule of activity on the allowance for loan losses	As of and for the Three Months Ended September 30, 2016 Commercial Commercial Real Estate Retail Real Retail Other Total (dollars in thousands) Beginning balance $ $ $ $ $ $ Provision for loan loss ) Charged-off ) ) — ) ) ) Recoveries Ending Balance $ $ $ $ $ $ As of and for the Nine Months Ended September 30, 2016 Commercial Commercial Real Estate Retail Real Retail Other Total (dollars in thousands) Beginning balance $ $ $ $ $ $ Provision for loan loss ) Charged-off ) ) ) ) ) ) Recoveries Ending Balance $ $ $ $ $ $ As of and for the Three Months Ended September 30, 2015 Commercial Commercial Real Estate Retail Real Retail Other Total (dollars in thousands) Beginning balance $ $ $ $ $ $ Provision for loan loss ) ) ) ) Charged-off — ) — ) ) ) Recoveries Ending Balance $ $ $ $ $ $ As of and for the Nine Months Ended September 30, 2015 Commercial Commercial Real Estate Retail Real Retail Other Total (dollars in thousands) Beginning balance $ $ $ $ $ $ Provision for loan loss ) ) Charged-off ) ) — ) ) ) Recoveries Ending Balance $ $ $ $ $ $
Schedule of allowance for loan losses and recorded investments in portfolio loans, by category	As of September 30, 2016 Commercial Commercial Real Estate Retail Real Retail Other Total (dollars in thousands) Amount allocated to: Loans individually evaluated for impairment $ $ $ $ $ $ Loans collectively evaluated for impairment Ending Balance $ $ $ $ $ $ Loans: Loans individually evaluated for impairment $ $ $ $ $ $ Loans collectively evaluated for impairment PCI loans evaluated for Impairment — Ending Balance $ $ $ $ $ $ As of December 31, 2015 Commercial Commercial Real Estate Retail Real Retail Other Total (dollars in thousands) Amount allocated to: Loans individually evaluated for impairment $ $ $ $ $ $ Loans collectively evaluated for impairment Ending Balance $ $ $ $ $ $ Loans: Loans individually evaluated for impairment $ $ $ $ $ $ Loans collectively evaluated for impairment PCI loans evaluated for Impairment — — — Ending Balance $ $ $ $ $ $

OREO (Tables)

OREO (Tables)	9 Months Ended
	Sep. 30, 2016
OREO.
Summary of activities relating to OREO	Nine Months Ended Year Ended (dollars in thousands) OREO: Beginning balance $ $ Additions, transfers from loans Additions, fair value from Herget Financial acquisition — Additions, fair value from Pulaski acquisition — Proceeds from sales of OREO ) ) Gain on sales of OREO Valuation allowance for OREO ) — Ending balance $ $

Deposits (Tables)

Deposits (Tables)	9 Months Ended
	Sep. 30, 2016
Deposits
Schedule of composition of deposits	September December 30, 2016 31, 2015 (dollars in thousands) Demand deposits, noninterest-bearing $ $ Interest-bearing transaction deposits, saving deposits and money market deposits Time deposits Total $ $
Schedule of maturities of time deposits	As of September 30, 2016, the scheduled maturities of time deposits, in thousands, are as follows: October 1, 2016 — September 30, 2017 $ October 1, 2017 — September 30, 2018 October 1, 2018 — September 30, 2019 October 1, 2019 — September 30, 2020 October 1, 2020 — September 30, 2021 Thereafter $

Borrowings (Tables)

Borrowings (Tables)	9 Months Ended
	Sep. 30, 2016
Borrowings
Schedule of distribution of securities sold under agreements to repurchase and short-term borrowings and weighted average interest rates	September 30, December 31, (dollars in thousands) Securities sold under agreements to repurchase Balance at end of period $ $ Weighted average interest rate at end of period % % Maximum outstanding at any month end in year-to-date period $ $ Average daily balance for the year-to-date period $ $ Weighted average interest rate during period(1) % % Short-term borrowings, FHLB advances Balance at end of period $ $ — Weighted average interest rate at end of period % — % Maximum outstanding at any month end in year-to-date period $ $ — Average daily balance for the year-to-date period $ $ — Weighted average interest rate during period(1) % — % Short-term borrowings, revolving loan Balance at end of period $ $ — Weighted average interest rate at end of period % — % Maximum outstanding at any month end in year-to-date period $ $ — Average daily balance for the year-to-date period $ $ — Weighted average interest rate during period(1) (2) % — % (1) The weighted average interest rate is computed by dividing total annualized interest for the year-to-date period by the average daily balance outstanding. (2) Includes interest and non-usage fee.
Summary of long-term debt	September 30, December 31, (dollars in thousands) Notes payable, FHLB, ranging in original maturity from nineteen months to ten years, collateralized by FHLB deposits, residential and commercial real estate loans and FHLB stock. $ $

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2016
Earnings Per Common Share
Schedule of computation of earnings per common share	Three Months Ended Nine Months Ended 2016 2015 2016 2015 (in thousands, except per share data) Net income available to common stockholders $ $ $ $ Shares: Weighted average common shares outstanding Dilutive effect of outstanding options, warrants and restricted stock units as determined by the application of the treasury stock method Weighted average common shares outstanding, as adjusted for diluted earnings per share calculation Basic earnings per common share $ $ $ $ Diluted earnings per common share $ $ $ $

Share-based Compensation (Table

Share-based Compensation (Tables)	9 Months Ended
	Sep. 30, 2016
Share-based Compensation
Schedule of status and changes in stock option plans	A summary of the status of and changes in the Company’s stock option awards for the nine months ended September 30, 2016 follows: Weighted- Weighted- Average Average Exercise Remaining Contractual Shares Price Term Outstanding at beginning of year $ Converted options from Pulaski Granted — — Exercised ) Forfeited ) Expired ) Outstanding at end of period $ Exercisable at end of period $
Summary of the changes in the company's stock unit awards	A summary of the changes in the Company’s stock unit awards for the nine months ended September 30, 2016, is as follows: Weighted- Director Weighted- Restricted Average Deferred Average Stock Grant Date Stock Grant Date Units Fair Value Units Fair Value Non-vested at beginning of year $ $ Granted Dividend equivalents earned Vested ) ) Forfeited ) — — Non-vested at end of period $ $ Outstanding at end of period $ $

Outstanding Commitments and C35

Outstanding Commitments and Contingent Liabilities (Tables)	9 Months Ended
	Sep. 30, 2016
Outstanding Commitments and Contingent Liabilities
Schedule of contractual amount of exposure to off-balance-sheet risk	September 30, 2016 December 31, 2015 (dollars in thousands) Financial instruments whose contract amounts represent credit risk: Commitments to extend credit $ $ Standby letters of credit

Capital (Tables)

Capital (Tables)	9 Months Ended
	Sep. 30, 2016
Capital
Schedule of capital adequacy requirements	Minimum Actual Capital Requirement with Minimum To Be Amount Ratio Amount Ratio Amount Ratio (dollars in thousands) As of September 30, 2016: Total Capital (to Risk Weighted Assets) Consolidated $ % $ % $ % Busey Bank $ % $ % $ % Pulaski Bank $ % $ % $ % Tier 1 Capital (to Risk Weighted Assets) Consolidated $ % $ % $ % Busey Bank $ % $ % $ % Pulaski Bank $ % $ % $ % Common Equity Tier 1 Capital (to Risk Weighted Assets) Consolidated $ % $ % $ % Busey Bank $ % $ % $ % Pulaski Bank $ % $ % $ % Tier 1 Capital (to Average Assets) Consolidated $ % $ % N/A N/A Busey Bank $ % $ % $ % Pulaski Bank $ % $ % $ %

Operating Segments and Relate37

Operating Segments and Related Information (Tables)	9 Months Ended
	Sep. 30, 2016
Operating Segments and Related Information
Summary of information relating to operating segments	Following is a summary of selected financial information for the Company’s operating segments (dollars in thousands) : Goodwill Total Assets September 30, December 31, September 30, December 31, Banking $ $ $ $ Remittance Processing Wealth Management Other — — ) ) Totals $ $ $ $ Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Net interest income: Banking $ $ $ $ Remittance Processing Wealth Management Other ) ) ) ) Total net interest income $ $ $ $ Non-interest income: Banking $ $ $ $ Remittance Processing Wealth Management Other ) ) ) ) Total non-interest income $ $ $ $ Non-interest expense: Banking $ $ $ $ Remittance Processing Wealth Management Other Total non-interest expense $ $ $ $ Income before income taxes: Banking $ $ $ $ Remittance Processing Wealth Management Other ) ) ) ) Total income before income taxes $ $ $ $ Net income: Banking $ $ $ $ Remittance Processing Wealth Management Other ) ) ) ) Total net income $ $ $ $

Derivative Financial Instrume38

Derivative Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2016
Derivative Financial Instruments
Summary of fair values of derivative assets and liabilities recorded in consolidated balance sheet	The fair values of these derivative assets and liabilities recorded in the consolidated balance sheets at September 30, 2016 are summarized as follows (dollars in thousands) : September 30, 2016 Fair value recorded in other assets $ Fair value recorded in other liabilities
Summary of gross gains and losses on derivative assets and liabilities recorded in non-interest income and expense in consolidated statements of income and comprehensive income	The gross gains and losses on these derivative assets and liabilities recorded in non-interest income and expense in the Consolidated Statements of Income for the nine months ended September 30, 2016 are summarized as follows (dollars in thousands) : September 30, 2016 Gross gains $ Gross losses ) Net losses )
Schedule of notional amount and fair values of open foreign currency forward contracts	September 30, 2016 (dollars in thousands) Notional amount $ Fair value recorded in other liabilities

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2016
Fair Value Measurements
Schedule of financial assets and financial liabilities measured at fair value on a recurring basis	The following table summarizes financial assets and financial liabilities measured at fair value on a recurring basis as of September 30, 2016 and December 31, 2015, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value (dollars in thousands) : Level 1 Level 2 Level 3 Total Inputs Inputs Inputs Fair Value September 30, 2016 Securities available for sale U.S. Treasury securities $ — $ $ — $ Obligations of U.S. government corporations and agencies — — Obligations of states and political subdivisions — — Residential mortgage-backed securities — — Corporate debt securities — — Mutual funds and other equity securities — — Loans Loans held for sale — — Derivative assets Derivative financial assets — — Derivative liabilities Foreign currency forward contracts — — Derivative financial liabilities — — Level 1 Level 2 Level 3 Total Inputs Inputs Inputs Fair Value December 31, 2015 Securities available for sale U.S. Treasury securities $ — $ $ — $ Obligations of U.S. government corporations and agencies — — Obligations of states and political subdivisions — — Residential mortgage-backed securities — — Corporate debt securities — — Mutual funds and other equity securities — — Derivative assets Foreign currency forward contracts — — Derivative liabilities Foreign currency forward contracts — —
Schedule of assets and liabilities measured at fair value on a non-recurring basis	The following table summarizes assets and liabilities measured at fair value on a non-recurring basis as of September 30, 2016 and December 31, 2015, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value (dollars in thousands) : Level 1 Level 2 Level 3 Total Inputs Inputs Inputs Fair Value September 30, 2016 Impaired loans $ — $ — $ $ OREO(1) — — — — December 31, 2015 Impaired loans $ — $ — $ $ OREO(1) — — — — (1)OREO fair value was less than one thousand dollars.
Schedule of quantitative information about Level 3 fair value measurements	The following table presents additional quantitative information about assets measured at fair value on a non-recurring basis for which the Company has utilized level 3 inputs to determine fair value (dollars in thousands) : Quantitative Information about Level 3 Fair Value Measurements Fair Value Valuation Unobservable Range Estimate Techniques Input (Weighted Average) September 30, 2016 Impaired loans $ Appraisal of collateral Appraisal adjustments -1.5% to -100.0% OREO(1) — Appraisal of collateral Appraisal adjustments -100.0% December 31, 2015 Impaired loans $ Appraisal of collateral Appraisal adjustments -4.3% to -100.0% OREO(1) — Appraisal of collateral Appraisal adjustments -100.0% (1)OREO fair value was less than one thousand dollars.
Schedule of estimated fair values of financial instruments	The estimated fair values of financial instruments that are reported at amortized cost in the Company’s Consolidated Balance Sheets, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value, were as follows (dollars in thousands) : September 30, 2016 December 31, 2015 Carrying Fair Carrying Fair Amount Value Amount Value Financial assets: Level 1 inputs: Cash and due from banks $ $ $ $ Federal funds sold — — Level 2 inputs: Securities held to maturity Loans held for sale(2) — — Accrued interest receivable Level 3 inputs: Net portfolio loans Mortgage servicing rights Financial liabilities: Level 2 inputs: Deposits $ $ $ $ Securities sold under agreements to repurchase Short-term borrowings — — Long-term debt Junior subordinated debt owed to unconsolidated trusts Accrued interest payable (2)Effective January 1, 2016, measured at fair value on a recurring basis.

Basis of Presentation (Details)

Basis of Presentation (Details)	May 20, 2015	Sep. 30, 2016item
Basis of Presentation
Conversion ratio	0.33
Number of significant subsequent events		0

Acquisitions (Details)

Acquisitions (Details) $ / shares in Units, $ in Thousands, shares in Millions	Apr. 30, 2016USD ($)item$ / shares	Apr. 29, 2016USD ($)$ / sharesshares	Apr. 30, 2016USD ($)item	Sep. 30, 2016USD ($)$ / shares	Sep. 30, 2015USD ($)$ / shares	Sep. 30, 2016USD ($)$ / shares	Sep. 30, 2015USD ($)$ / shares	Dec. 31, 2015USD ($)
Assets acquired
Goodwill				$ 102,356		$ 102,356		$ 25,510
Consideration paid
Goodwill				102,356		102,356		$ 25,510
Pulaski Financial Corp
Business Acquisition
Number of branches | item	13		13
Share consideration (in dollar per share) | $ / shares	$ 0.79
Market value of common stock issued (in shares) | shares		9.4
Market value of common stock issued		$ 193,000
Share price | $ / shares		$ 20.44
Options to purchase common stock, conversion ratio	0.79
Maximum period of measurement adjustments from the closing date of acquisition			1 year
Business acquisition expenses				800		3,100
Acquisition expenses related to professional and legal fees				200		1,100
Assets acquired
Cash and cash equivalents	$ 25,580		$ 25,580
Securities	48,000		48,000
Loans held for sale	184,856		184,856
Portfolio loans	1,229,461		1,229,461
Premises and equipment	17,331		17,331
OREO	2,488		2,488
Goodwill	76,846		76,846
Other intangible assets	15,468		15,468
Other assets	70,027		70,027
Total assets acquired	1,593,211		1,593,211
Liabilities assumed
Deposits	1,228,008		1,228,008
Other Borrowings	206,746		206,746
Trust preferred securities	15,784		15,784
Other liabilities	24,070		24,070
Total liabilities assumed	1,474,608		1,474,608
Net assets acquired	118,603		118,603
Consideration paid
Cash			5
Common Stock			192,990
Fair value of stock options assumed			2,454
Total consideration paid			195,449
Goodwill	76,846		76,846
Amount expected to be accreted	$ 16,900		16,900
Estimated remaining life for loans expected to be accreted (in years)	4 years
Period for amount to be accreted under time deposits (in years)	2 years
Period for amount to be accreted under trust preferred securities (in years)	18 years
Fair value of performing loans, including loans held for sale	$ 1,400,000		1,400,000
Amount expected to be accreted, gross	16,600		16,600
Contractual amount of PCI loans	21,200		21,200
Fair value of credit-impaired loans	9,700		9,700
PCI Loans sold to out side parties				6,200
Accretable yield expected to be recognized over the estimated period	300		300
Revenues since date of acquisition						33,300
Net income since date of acquisition						8,800
Pro forma acquisition related expenses, pre-tax basis				800		8,100
Total revenues (net interest income plus non-interest income)				63,600	$ 61,855	184,677	$ 184,917
Net income				$ 14,600	$ 15,028	$ 36,408	$ 42,565
Diluted earnings per common share | $ / shares				$ 0.38	$ 0.38	$ 0.94	$ 1.09
Pulaski Financial Corp | Initial Fair Value Adjustments
Assets acquired
Securities	105		105
Portfolio loans	(14,452)		(14,452)
Premises and equipment	95		95
OREO	(2,534)		(2,534)
Goodwill	(3,939)		(3,939)
Other intangible assets	15,468		15,468
Other assets	(338)		(338)
Total assets acquired	(5,595)		(5,595)
Liabilities assumed
Deposits	1,102		1,102
Other Borrowings	906		906
Trust preferred securities	(3,805)		(3,805)
Other liabilities	(524)		(524)
Total liabilities assumed	(2,321)		(2,321)
Net assets acquired	(3,274)		(3,274)
Consideration paid
Goodwill	$ (3,939)		(3,939)
Pulaski Financial Corp | Core deposit intangible assets
Consideration paid
Useful life of intangible asset (in years)	14 years
Herget Financial Corp and Herget Bank
Business Acquisition
Business acquisition expenses							$ 1,000
Pulaski Financial Corp
Assets acquired
Cash and cash equivalents	$ 25,580		25,580
Securities	47,895		47,895
Loans held for sale	184,856		184,856
Portfolio loans	1,243,913		1,243,913
Premises and equipment	17,236		17,236
OREO	5,022		5,022
Goodwill	3,939		3,939
Other assets	70,365		70,365
Total assets acquired	1,598,806		1,598,806
Liabilities assumed
Deposits	1,226,906		1,226,906
Other Borrowings	205,840		205,840
Trust preferred securities	19,589		19,589
Other liabilities	24,594		24,594
Total liabilities assumed	1,476,929		1,476,929
Net assets acquired	121,877		121,877
Consideration paid
Goodwill	$ 3,939		$ 3,939

Securities - General Disclosure

Securities - General Disclosures (Details) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2016USD ($)item	Jun. 30, 2016USD ($)item	Sep. 30, 2016USD ($)item	Sep. 30, 2015USD ($)	Dec. 31, 2015USD ($)
Available for sale
Amortized Cost	$ 763,428		$ 763,428		$ 830,935
Gross Unrealized Gains	11,320		11,320		6,217
Gross Unrealized Losses	(65)		(65)		(2,314)
Fair Value	774,683		774,683		834,838
Held to maturity
Amortized Cost	50,460		50,460		49,832
Gross Unrealized Gains	1,159		1,159		473
Gross Unrealized Losses	(1)		(1)		(34)
Fair Value	51,618		51,618		50,271
Available for sale, Amortized Cost
Due in one year or less	145,340		145,340
Due after one year through five years	301,947		301,947
Due after five years through ten years	55,178		55,178
Due after ten years	257,771		257,771
Amortized Cost	760,236		760,236
Available for sale, Fair Value
Due in one year or less	145,696		145,696
Due after one year through five years	306,250		306,250
Due after five years through ten years	57,294		57,294
Due after ten years	261,754		261,754
Fair Value	770,994		770,994
Held to maturity, Amortized Cost
Due in one year or less	3,558		3,558
Due after one year through five years	18,642		18,642
Due after five years through ten years	25,020		25,020
Due after ten years	3,240		3,240
Amortized Cost	50,460		50,460		49,832
Held to maturity, Fair Value
Due in one year or less	3,560		3,560
Due after one year through five years	18,925		18,925
Due after five years through ten years	25,807		25,807
Due after ten years	3,326		3,326
Fair Value	51,618		51,618		50,271
Realized gains and losses related to sales of securities available for sale
Gross security gains	136		1,381	$ 1
Gross security (losses)	(125)		(151)	(22)
Net security gains (losses)	11		1,230	$ (21)
Tax provision related to net realized gains (losses)			400
Carrying amount of investment securities pledged as collateral	619,100		619,100		627,400
Available for sale, Fair Value
Continuous unrealized losses existing for less than 12 months, gross	30,830		30,830		285,300
Continuous unrealized losses existing greater than 12 months, gross	1,160		1,160		11,419
Total	31,990		31,990		296,719
Available for sale, Unrealized Losses
Continuous unrealized losses existing for less than 12 months, gross	(61)		(61)		(2,167)
Continuous unrealized losses existing greater than 12 months, gross	(4)		(4)		(147)
Total	(65)		(65)		(2,314)
Held to maturity, Fair Value
Continuous unrealized losses existing for less than 12 months, gross	909		909		8,451
Continuous unrealized losses existing for greater than 12 months, gross					91
Total	$ 909		909		8,542
Held to maturity, Unrealized Losses
Continuous unrealized losses existing for less than 12 months, gross			(1)		(34)
Total			$ (1)		(34)
Number of securities in unrealized loss position | item	58		58
Securities in unrealized loss position as a percentage of aggregate carrying value of investments	0.20%		0.20%
U.S. Treasury securities
Available for sale
Amortized Cost	$ 64,822		$ 64,822		65,003
Gross Unrealized Gains	444		444		189
Gross Unrealized Losses					(1)
Fair Value	65,266		65,266		65,191
Available for sale, Fair Value
Continuous unrealized losses existing for less than 12 months, gross					364
Total					364
Available for sale, Unrealized Losses
Continuous unrealized losses existing for less than 12 months, gross					(1)
Total					(1)
Obligations of U.S. government corporations and agencies
Available for sale
Amortized Cost	105,071		105,071		132,547
Gross Unrealized Gains	465		465		211
Gross Unrealized Losses					(153)
Fair Value	105,536		105,536		132,605
Available for sale, Fair Value
Continuous unrealized losses existing for less than 12 months, gross	15,032		15,032		52,154
Total	15,032		15,032		52,154
Available for sale, Unrealized Losses
Continuous unrealized losses existing for less than 12 months, gross					(153)
Total					(153)
Obligations of states and political subdivisions
Available for sale
Amortized Cost	161,535		161,535		176,764
Gross Unrealized Gains	2,443		2,443		2,154
Gross Unrealized Losses	(38)		(38)		(306)
Fair Value	163,940		163,940		178,612
Held to maturity
Amortized Cost	46,957		46,957		48,835
Gross Unrealized Gains	1,056		1,056		449
Gross Unrealized Losses	(1)		(1)		(34)
Fair Value	48,012		48,012		49,250
Held to maturity, Amortized Cost
Amortized Cost	46,957		46,957		48,835
Held to maturity, Fair Value
Fair Value	48,012		48,012		49,250
Realized gains and losses related to sales of securities available for sale
Number of held-to-maturity securities sold | item		1
Fair value of held-to-maturity securities sold		$ 400
Available for sale, Fair Value
Continuous unrealized losses existing for less than 12 months, gross	12,965		12,965		40,026
Continuous unrealized losses existing greater than 12 months, gross	1,160		1,160		11,419
Total	14,125		14,125		51,445
Available for sale, Unrealized Losses
Continuous unrealized losses existing for less than 12 months, gross	(34)		(34)		(159)
Continuous unrealized losses existing greater than 12 months, gross	(4)		(4)		(147)
Total	(38)		(38)		(306)
Held to maturity, Fair Value
Continuous unrealized losses existing for less than 12 months, gross	909		909		8,451
Continuous unrealized losses existing for greater than 12 months, gross					91
Total	909		909		8,542
Held to maturity, Unrealized Losses
Continuous unrealized losses existing for less than 12 months, gross			(1)		(34)
Total			(1)		(34)
Obligations of states and political subdivisions | Maximum
Held to maturity, Unrealized Losses
Continuous unrealized losses existing for greater than 12 months, gross			1		1
Residential mortgage-backed securities
Available for sale
Amortized Cost	285,095		285,095		304,978
Gross Unrealized Gains	4,871		4,871		2,922
Gross Unrealized Losses	(8)		(8)		(351)
Fair Value	289,958		289,958		307,549
Available for sale, Fair Value
Continuous unrealized losses existing for less than 12 months, gross	2,209		2,209		93,608
Total	2,209		2,209		93,608
Available for sale, Unrealized Losses
Continuous unrealized losses existing for less than 12 months, gross	(8)		(8)		(351)
Total	(8)		(8)		(351)
Corporate debt securities
Available for sale
Amortized Cost	143,713		143,713		150,001
Gross Unrealized Gains	2,600		2,600		307
Gross Unrealized Losses	(19)		(19)		(1,503)
Fair Value	146,294		146,294		148,805
Available for sale, Fair Value
Continuous unrealized losses existing for less than 12 months, gross	624		624		99,148
Total	624		624		99,148
Available for sale, Unrealized Losses
Continuous unrealized losses existing for less than 12 months, gross	(19)		(19)		(1,503)
Total	(19)		(19)		(1,503)
Debt securities
Available for sale
Amortized Cost	760,236		760,236		829,293
Gross Unrealized Gains	10,823		10,823		5,783
Gross Unrealized Losses	(65)		(65)		(2,314)
Fair Value	770,994		770,994		832,762
Mutual funds and other equity securities
Available for sale
Amortized Cost	3,192		3,192		1,642
Gross Unrealized Gains	497		497		434
Fair Value	3,689		3,689		2,076
Commercial mortgage-backed securities
Held to maturity
Amortized Cost	3,503		3,503		997
Gross Unrealized Gains	103		103		24
Fair Value	3,606		3,606		1,021
Held to maturity, Amortized Cost
Amortized Cost	3,503		3,503		997
Held to maturity, Fair Value
Fair Value	$ 3,606		$ 3,606		$ 1,021

Securities - Obligations by Sta

Securities - Obligations by State (Details) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2016USD ($)item	Dec. 31, 2015USD ($)item
Securities
Available for sale, fair value	$ 774,683	$ 834,838
Held to maturity, fair value	$ 51,618	$ 50,271
General obligation bonds
Securities
Number of issuers | item	228	241
Amortized Cost	$ 174,835	$ 191,196
Fair Value	177,926	193,441
Average Exposure Per Issuer (Fair Value)	780	803
Amount of largest exposure to a single issuer	$ 3,400	$ 3,400
Percentage of the entity's stockholders equity in excess of aggregate book or market value	10.00%	10.00%
Percentage of underlying asset rated by at least a specified nationally recognized statistical rating organization	98.30%	97.60%
Minimum number of nationally recognized statistical rating organizations | item	1	1
Percentage of underlying asset unrated	1.70%	2.40%
General obligation bonds | Illinois
Securities
Number of issuers | item	73	77
Amortized Cost	$ 65,300	$ 64,455
Fair Value	66,709	65,557
Average Exposure Per Issuer (Fair Value)	$ 914	$ 851
General obligation bonds | Wisconsin
Securities
Number of issuers | item	33	36
Amortized Cost	$ 23,647	$ 30,889
Fair Value	23,879	31,079
Average Exposure Per Issuer (Fair Value)	$ 724	$ 863
General obligation bonds | Michigan
Securities
Number of issuers | item	38	39
Amortized Cost	$ 24,587	$ 27,923
Fair Value	25,125	28,339
Average Exposure Per Issuer (Fair Value)	$ 661	$ 727
General obligation bonds | Pennsylvania
Securities
Number of issuers | item	10	10
Amortized Cost	$ 10,758	$ 12,601
Fair Value	10,846	12,650
Average Exposure Per Issuer (Fair Value)	$ 1,085	$ 1,265
General obligation bonds | Texas
Securities
Number of issuers | item	16	18
Amortized Cost	$ 10,789	$ 12,117
Fair Value	10,948	12,165
Average Exposure Per Issuer (Fair Value)	$ 684	$ 676
General obligation bonds | Ohio
Securities
Number of issuers | item	10	10
Amortized Cost	$ 10,660	$ 10,723
Fair Value	10,768	10,705
Average Exposure Per Issuer (Fair Value)	$ 1,077	$ 1,071
General obligation bonds | Iowa
Securities
Number of issuers | item	3	3
Amortized Cost	$ 5,333	$ 5,550
Fair Value	5,376	5,571
Average Exposure Per Issuer (Fair Value)	$ 1,792	$ 1,857
General obligation bonds | Other
Securities
Number of issuers | item	45	48
Amortized Cost	$ 23,761	$ 26,938
Fair Value	24,275	27,375
Average Exposure Per Issuer (Fair Value)	$ 539	$ 570
Revenue bonds
Securities
Number of issuers | item	35	37
Amortized Cost	$ 33,657	$ 34,403
Fair Value	34,026	34,421
Average Exposure Per Issuer (Fair Value)	972	930
Amount of largest exposure to a single issuer	$ 3,800	$ 3,000
Percentage of the entity's stockholders equity in excess of aggregate book or market value	10.00%	10.00%
Percentage of bonds rated by nationally recognized statistical rating organization	96.80%
Percentage of bonds unrated	3.20%
Minimum number of nationally recognized statistical rating organizations | item	1	1
Revenue bonds | Indiana
Securities
Number of issuers | item	7	9
Amortized Cost	$ 7,610	$ 10,187
Fair Value	7,693	10,173
Average Exposure Per Issuer (Fair Value)	$ 1,099	$ 1,130
Revenue bonds | Illinois
Securities
Number of issuers | item	7	7
Amortized Cost	$ 7,974	$ 8,450
Fair Value	8,127	8,478
Average Exposure Per Issuer (Fair Value)	$ 1,161	$ 1,211
Revenue bonds | Other
Securities
Number of issuers | item	21	21
Amortized Cost	$ 18,073	$ 15,766
Fair Value	18,206	15,770
Average Exposure Per Issuer (Fair Value)	867	751
Obligations of states and political subdivisions
Securities
Available for sale, fair value	163,940	178,612
Held to maturity, fair value	$ 48,012	$ 49,250
Number of issuers | item	263	278
Total Capital for rated securities (as a percent)	100.00%
Total Capital for unrated securities (as a percent)	15.00%
Obligations of states and political subdivisions | General obligation bonds
Securities
Fair Value	$ 177,900	$ 193,400
Number of states in which investment is held | item	29	29
Number of states in which investment is held in excess of aggregate fair value | item	7	7
Aggregate fair value	$ 5,000	$ 5,000
Obligations of states and political subdivisions | Revenue bonds
Securities
Fair Value	$ 34,100	$ 34,400
Number of states in which investment is held | item	16	17
Number of states in which investment is held in excess of aggregate fair value | item	2	2
Aggregate fair value	$ 5,000	$ 5,000

Loans - Distributions of Loans

Loans - Distributions of Loans (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)itemmi	Jun. 30, 2016USD ($)	Dec. 31, 2015USD ($)	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Dec. 31, 2014USD ($)
Loans
Total gross loans	$ 4,073,995		$ 2,637,090
Less loans held for sale	266,382		9,351
Gross portfolio loans	3,807,613		2,627,739
Less allowance for loan losses	47,847	$ 45,358	47,487	$ 47,212	$ 47,720	$ 47,453
Net portfolio loans	3,759,766		2,580,252
Net deferred loan origination costs	2,300		900
Amount of loan reduction due to net accretable purchase accounting adjustments	$ 14,800		2,200
Minimum target period for lending via intermediate term loans	0 years
Maximum target period for lending via intermediate term loans	7 years
Geographical area from lending offices which attempt is made to lend short and intermediate term loans (in miles) | mi	125
Number of primary areas for lending loan | item	5
Pulaski Financial Corp
Loans
Increase in net portfolio loans	$ 1,200,000
Commercial
Loans
Total gross loans	945,779		656,576
Gross portfolio loans	945,779		656,576
Less allowance for loan losses	11,366	10,146	13,115	9,712	9,955	10,041
Commercial real estate
Loans
Total gross loans	1,582,338		1,208,429
Gross portfolio loans	1,582,338		1,208,429
Less allowance for loan losses	19,507	20,275	18,604	20,175	20,945	20,639
Real estate construction
Loans
Total gross loans	187,463		96,568
Gross portfolio loans	187,463		96,568
Less allowance for loan losses	2,004	1,623	1,763	2,215	2,221	2,795
Retail real estate
Loans
Total gross loans	1,342,840		660,542
Gross portfolio loans	1,076,458		651,191
Less allowance for loan losses	14,627	12,979	13,714	14,796	14,278	13,662
Retail other
Loans
Total gross loans	15,575		14,975
Gross portfolio loans	15,575		14,975
Less allowance for loan losses	$ 343	$ 335	$ 291	$ 314	$ 321	$ 316

Loans - Risk Grading (Details)

Loans - Risk Grading (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Pass and watch
Loans
Portfolio loans receivable	$ 3,600,000	$ 2,500,000
Special mention, substandard and doubtful
Loans
Portfolio loans receivable	187,000	166,800
Pass
Loans
Portfolio loans receivable	3,438,685	2,308,716
Watch
Loans
Portfolio loans receivable	194,834	152,695
Special mention
Loans
Limit above which loans are annually reviewed	350
Portfolio loans receivable	108,197	107,933
Substandard
Loans
Portfolio loans receivable	62,547	46,108
Doubtful
Loans
Portfolio loans receivable	16,253	12,748
Commercial | Pass and watch
Loans
Limit where loans are processed through an expedited underwriting process	350
Commercial | Pass and watch | Minimum
Loans
Limit where loans are processed through an expedited underwriting process	350
Commercial | Pass and watch | Maximum
Loans
Limit where loans are processed through an expedited underwriting process	1,000
Commercial | Pass
Loans
Portfolio loans receivable	814,048	553,294
Commercial | Watch
Loans
Limit above which loans are annually reviewed	1,000
Portfolio loans receivable	64,515	57,703
Commercial | Special mention
Loans
Portfolio loans receivable	32,948	27,142
Commercial | Substandard
Loans
Portfolio loans receivable	29,908	10,966
Commercial | Doubtful
Loans
Portfolio loans receivable	6,972	7,617
Commercial real estate
Loans
Limit where loans are processed through an expedited underwriting process	1,000
Commercial real estate | Pass
Loans
Portfolio loans receivable	1,434,896	1,068,568
Commercial real estate | Watch
Loans
Portfolio loans receivable	65,193	58,238
Commercial real estate | Special mention
Loans
Portfolio loans receivable	53,056	51,418
Commercial real estate | Substandard
Loans
Portfolio loans receivable	28,079	29,781
Commercial real estate | Doubtful
Loans
Portfolio loans receivable	5,418	1,496
Real estate construction | Pass
Loans
Portfolio loans receivable	132,992	65,284
Real estate construction | Watch
Loans
Portfolio loans receivable	46,061	15,053
Real estate construction | Special mention
Loans
Portfolio loans receivable	8,893	14,755
Real estate construction | Substandard
Loans
Portfolio loans receivable	1,035	1,157
Real estate construction | Doubtful
Loans
Portfolio loans receivable	417	366
Retail real estate | Pass
Loans
Portfolio loans receivable	1,041,798	607,398
Retail real estate | Watch
Loans
Portfolio loans receivable	19,031	21,637
Retail real estate | Special mention
Loans
Portfolio loans receivable	12,826	13,974
Retail real estate | Substandard
Loans
Portfolio loans receivable	3,513	4,204
Retail real estate | Doubtful
Loans
Portfolio loans receivable	3,272	3,139
Retail other | Pass
Loans
Portfolio loans receivable	14,951	14,172
Retail other | Watch
Loans
Portfolio loans receivable	34	64
Retail other | Special mention
Loans
Portfolio loans receivable	474	644
Retail other | Substandard
Loans
Portfolio loans receivable	12
Retail other | Doubtful
Loans
Portfolio loans receivable	$ 174	$ 130

Loans - Past due loans (Details

Loans - Past due loans (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2016USD ($)item	Sep. 30, 2016USD ($)item	Dec. 31, 2015USD ($)
Loans past due, still accruing
Loans past due, still accruing	$ 3,830	$ 3,830	$ 15
Non-accrual Loans	16,253	16,253	12,748
Gross interest income that would have been recorded if impaired loans had been current	$ 300	$ 700
Number of Primary Loan Lending Areas | item	5	5
Restructured loan included in the non-performing		90 days
Restructured loans:
Total loans	$ 9,592	$ 9,592	9,473
30 to 59 Days
Loans past due, still accruing
Loans past due, still accruing	6,871	6,871	2,932
60 to 89 Days
Loans past due, still accruing
Loans past due, still accruing	838	838	350
In compliance with modified terms
Restructured loans:
Total loans	8,131	8,131	8,770
30-89 days past due
Restructured loans:
Total loans	59	59	60
Included in non-performing loans
Restructured loans:
Total loans	1,402	1,402	643
Commercial
Loans past due, still accruing
Loans past due, still accruing	76	76	15
Non-accrual Loans	6,972	6,972	7,617
Commercial | 30 to 59 Days
Loans past due, still accruing
Loans past due, still accruing	2,748	2,748	598
Commercial | 60 to 89 Days
Loans past due, still accruing
Loans past due, still accruing	180	180	162
Commercial real estate
Loans past due, still accruing
Loans past due, still accruing	3,729	3,729
Non-accrual Loans	5,418	5,418	1,496
Commercial real estate | 30 to 59 Days
Loans past due, still accruing
Loans past due, still accruing	812	812	1,037
Commercial real estate | 60 to 89 Days
Loans past due, still accruing
Loans past due, still accruing	69	69	27
Real estate construction
Loans past due, still accruing
Non-accrual Loans	417	417	366
Real estate construction | 30 to 59 Days
Loans past due, still accruing
Loans past due, still accruing	54	54
Retail real estate
Loans past due, still accruing
Loans past due, still accruing	25	25
Non-accrual Loans	3,272	3,272	3,139
Retail real estate | 30 to 59 Days
Loans past due, still accruing
Loans past due, still accruing	3,205	3,205	1,278
Retail real estate | 60 to 89 Days
Loans past due, still accruing
Loans past due, still accruing	566	566	160
Retail other
Loans past due, still accruing
Non-accrual Loans	174	174	130
Retail other | 30 to 59 Days
Loans past due, still accruing
Loans past due, still accruing	52	52	19
Retail other | 60 to 89 Days
Loans past due, still accruing
Loans past due, still accruing	$ 23	$ 23	$ 1

Loans - Impaired Loans (Details

Loans - Impaired Loans (Details) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2016USD ($)contract	Sep. 30, 2015USD ($)contract	Sep. 30, 2016USD ($)contract	Sep. 30, 2015USD ($)contract	Dec. 31, 2015USD ($)
Loans
Unpaid Contractual Principal Balance	$ 43,658		$ 43,658		$ 34,386
Recorded Investment with No Allowance	30,059		30,059		19,551
Recorded Investment with Allowance	2,666		2,666		10,087
Total Recorded Investment	32,725		32,725		29,638
Related Allowance	$ 1,103		1,103		3,949
Average Recorded Investment			30,445		26,346
Included in non-performing loans
Loans
Number of contracts | contract	0	0
Commercial
Loans
Unpaid Contractual Principal Balance	$ 15,250		15,250		14,302
Recorded Investment with No Allowance	7,135		7,135		3,362
Recorded Investment with Allowance	94		94		8,238
Total Recorded Investment	7,229		7,229		11,600
Related Allowance	94		94		3,304
Average Recorded Investment			8,190		4,482
Commercial | In compliance with modified terms
Loans
Number of modifications for short-term principal payment relief | contract		1		1
Recorded investment for short-term principal payment relief		$ 200		$ 200
Commercial | Included in non-performing loans | Florida
Loans
Number of contracts | contract				1
Recorded Investment				$ 600
Commercial real estate
Loans
Unpaid Contractual Principal Balance	14,192		14,192		5,865
Recorded Investment with No Allowance	10,977		10,977		4,018
Recorded Investment with Allowance	2,146		2,146		1,363
Total Recorded Investment	13,123		13,123		5,381
Related Allowance	843		843		459
Average Recorded Investment			$ 8,250		8,700
Commercial real estate | In compliance with modified terms
Loans
Number of modifications for short-term principal payment relief | contract			3
Recorded investment for short-term principal payment relief			$ 300
Commercial real estate | Included in non-performing loans | Florida
Loans
Number of contracts | contract				1
Recorded Investment				$ 400
Real estate construction
Loans
Unpaid Contractual Principal Balance	1,543		1,543		1,569
Recorded Investment with No Allowance	854		854		830
Recorded Investment with Allowance	23		23		29
Total Recorded Investment	877		877		859
Related Allowance	23		23		29
Average Recorded Investment			871		833
Retail real estate
Loans
Unpaid Contractual Principal Balance	12,412		12,412		12,378
Recorded Investment with No Allowance	10,919		10,919		11,108
Recorded Investment with Allowance	400		400		452
Total Recorded Investment	11,319		11,319		11,560
Related Allowance	$ 140		140		152
Average Recorded Investment			$ 12,946		12,070
Retail real estate | In compliance with modified terms
Loans
Number of modifications for short-term interest-rate relief | contract				1
Recorded investment for short-term interest-rate relief				$ 100
Number of modifications for short-term principal payment relief | contract	1		3	4
Recorded investment for short-term principal payment relief	$ 200		$ 500	$ 400
Retail real estate | Included in non-performing loans | Florida
Loans
Number of contracts | contract			1
Recorded Investment			$ 100
Retail other
Loans
Unpaid Contractual Principal Balance	261		261		272
Recorded Investment with No Allowance	174		174		233
Recorded Investment with Allowance	3		3		5
Total Recorded Investment	177		177		238
Related Allowance	$ 3		3		5
Average Recorded Investment			$ 188		$ 261
Retail other | Included in non-performing loans | Florida
Loans
Number of contracts | contract			1

Loans - Adverse Loan Grading (D

Loans - Adverse Loan Grading (Details) $ in Billions	9 Months Ended
	Sep. 30, 2016USD ($)item
Loans
The number of components in the general portion of the Company's allowance	2
Number of quarters whose historical average is used to calculate the historical loss ratio	20
Acquired loans which did not require a related allowance | $	$ 1
Substandard
Loans
Additional reserve (as a percent)	3.00%
Special mention
Loans
Additional reserve (as a percent)	1.00%

Loans - Allowance for Loan Loss

Loans - Allowance for Loan Loss (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Dec. 31, 2015
Changes in allowance for loan losses
Beginning balance	$ 45,358	$ 47,720	$ 47,487	$ 47,453
Provision for loan loss	1,950	100	4,050	600
Charged-off	(1,365)	(1,075)	(7,205)	(2,643)
Recoveries	1,904	467	3,515	1,802
Ending Balance	47,847	47,212	47,847	47,212
Amount allocated to:
Loans individually evaluated for impairment					$ 1,103	$ 3,949
Loans collectively evaluated for impairment					46,744	43,538
Ending Balance	45,358	47,720	47,487	47,453	47,847	47,487
Loans:
Loans individually evaluated for impairment					29,307	28,930
Loans collectively evaluated for impairment					3,774,888	2,598,101
Ending Balance					3,807,613	2,627,739
Purchased Credit Impaired Loans
Loans:
Loans collectively evaluated for impairment					3,418	708
Commercial
Changes in allowance for loan losses
Beginning balance	10,146	9,955	13,115	10,041
Provision for loan loss	1,502	(311)	2,747	(561)
Charged-off	(374)		(5,248)	(77)
Recoveries	92	68	752	309
Ending Balance	11,366	9,712	11,366	9,712
Amount allocated to:
Loans individually evaluated for impairment					94	3,304
Loans collectively evaluated for impairment					11,272	9,811
Ending Balance	10,146	9,955	13,115	10,041	11,366	13,115
Loans:
Loans individually evaluated for impairment					5,659	11,600
Loans collectively evaluated for impairment					938,550	644,976
Ending Balance					945,779	656,576
Commercial | Purchased Credit Impaired Loans
Loans:
Loans collectively evaluated for impairment					1,570
Commercial real estate
Changes in allowance for loan losses
Beginning balance	20,275	20,945	18,604	20,639
Provision for loan loss	(786)	(231)	1,110	394
Charged-off	(19)	(589)	(301)	(1,297)
Recoveries	37	50	94	439
Ending Balance	19,507	20,175	19,507	20,175
Amount allocated to:
Loans individually evaluated for impairment					843	459
Loans collectively evaluated for impairment					18,664	18,145
Ending Balance	20,275	20,945	18,604	20,639	19,507	18,604
Loans:
Loans individually evaluated for impairment					12,052	5,005
Loans collectively evaluated for impairment					1,569,215	1,203,048
Ending Balance					1,582,338	1,208,429
Commercial real estate | Purchased Credit Impaired Loans
Loans:
Loans collectively evaluated for impairment					1,071	376
Real estate construction
Changes in allowance for loan losses
Beginning balance	1,623	2,221	1,763	2,795
Provision for loan loss	212	(64)	(83)	(810)
Charged-off			(24)
Recoveries	169	58	348	230
Ending Balance	2,004	2,215	2,004	2,215
Amount allocated to:
Loans individually evaluated for impairment					23	29
Loans collectively evaluated for impairment					1,981	1,734
Ending Balance	1,623	2,221	1,763	2,795	2,004	1,763
Loans:
Loans individually evaluated for impairment					522	527
Loans collectively evaluated for impairment					186,586	95,709
Ending Balance					187,463	96,568
Real estate construction | Purchased Credit Impaired Loans
Loans:
Loans collectively evaluated for impairment					355	332
Retail real estate
Changes in allowance for loan losses
Beginning balance	12,979	14,278	13,714	13,662
Provision for loan loss	1,002	709	104	1,525
Charged-off	(860)	(430)	(1,305)	(1,028)
Recoveries	1,506	239	2,114	637
Ending Balance	14,627	14,796	14,627	14,796
Amount allocated to:
Loans individually evaluated for impairment					140	152
Loans collectively evaluated for impairment					14,487	13,562
Ending Balance	12,979	14,278	13,714	13,662	14,627	13,714
Loans:
Loans individually evaluated for impairment					10,897	11,560
Loans collectively evaluated for impairment					1,065,139	639,631
Ending Balance					1,076,458	651,191
Retail real estate | Purchased Credit Impaired Loans
Loans:
Loans collectively evaluated for impairment					422
Retail other
Changes in allowance for loan losses
Beginning balance	335	321	291	316
Provision for loan loss	20	(3)	172	52
Charged-off	(112)	(56)	(327)	(241)
Recoveries	100	52	207	187
Ending Balance	343	314	343	314
Amount allocated to:
Loans individually evaluated for impairment					3	5
Loans collectively evaluated for impairment					340	286
Ending Balance	$ 335	$ 321	$ 291	$ 316	343	291
Loans:
Loans individually evaluated for impairment					177	238
Loans collectively evaluated for impairment					15,398	14,737
Ending Balance					$ 15,575	$ 14,975

OREO (Details)

OREO (Details) - USD ($) $ in Thousands	9 Months Ended		12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
OREO:
Other Real Estate, Beginning Balance	$ 783	$ 216	$ 216
Additions, transfers from loans	2,175		1,251
Proceeds from sales of OREO	(3,911)	$ (927)	(1,090)
Gain on sales of OREO	818		122
Valuation allowance for OREO	(29)
Other Real Estate, Ending Balance	2,324		783
Commercial real estate
Foreclosed Real Estate
Other real estate owned (OREO)	1,700		500
Residential real estate
Foreclosed Real Estate
Other real estate owned (OREO)	600		300
Residential real estate in the process of foreclosure	1,800
Herget Financial Corp and Herget Bank
OREO:
Additions, fair value from acquisition			$ 284
Pulaski Financial Corp
OREO:
Additions, fair value from acquisition	$ 2,488

Deposits (Details)

Deposits (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Demand deposits, noninterest-bearing	$ 996,750	$ 881,685
Interest-bearing transaction deposits, saving deposits and money market deposits	2,511,914	1,949,370
Time deposits	827,842	458,051
Total deposits	4,336,506	3,289,106
Reciprocal transaction deposits included in interest-bearing transaction deposits	35,000	7,800
Reciprocal transaction deposits included in savings deposits	25,300	0
Time deposits minimum denomination of $100,000 or more	373,000	128,100
Time deposits minimum denomination of $250,000 or more	80,600	23,200
National deposits included in the balance of time deposits	200	400
Reciprocal time deposits	95,500	400
Brokered deposits included in the balance of time deposits	5,000	0
Deposits
October 1, 2016 - September 30, 2017	567,583
October 1, 2017 - September 30, 2018	157,364
October 1, 2018 - September 30, 2019	69,110
October 1, 2019 - September 30, 2020	16,601
October 1, 2020 - September 30, 2021	17,083
Thereafter	101
Total	827,842	$ 458,051
Pulaski Financial Corp
Total deposits	$ 1,100,000

Borrowings - Maturity period (D

Borrowings - Maturity period (Details)	9 Months Ended
	Sep. 30, 2016
Borrowings
Maximum maturity period of securities sold under agreements to repurchase	1 year
Maximum maturity period of short-term debt	1 year

Borrowings - Short-term borrowi

Borrowings - Short-term borrowings (Details) - Line of Credit - USD ($) $ in Millions	Nov. 20, 2015	Sep. 30, 2016	Dec. 31, 2015
Short-term borrowings
Maximum borrowing capacity	$ 20
Outstanding amounts		$ 10	$ 0
One-month LIBOR rate
Short-term borrowings
Annual interest rate (as a percentage)	2.50%

Borrowings - Securities sold un

Borrowings - Securities sold under agreements to repurchase and short-term borrowings (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Securities sold under agreements to repurchase
Balance at end of period	$ 212,363	$ 172,972
Weighted average interest rate at end of period (as a percent)	0.21%	0.18%
Maximum outstanding at any month end in year-to-date period	$ 212,363	$ 202,376
Average daily balance for the year-to-date period	$ 176,946	$ 179,662
Weighted average interest rate during period (as a percent)	0.21%	0.10%
Short-term borrowings
Balance at end of period	$ 246,700
FHLB advances
Short-term borrowings
Balance at end of period	$ 236,700
Weighted average interest rate at end of period	0.45%
Maximum outstanding at any month end in year-to-date period	$ 236,700
Average daily balance for the year-to-date period	$ 91,134
Weighted average interest rate during period	0.54%
Revolving loan
Short-term borrowings
Balance at end of period	$ 10,000
Weighted average interest rate at end of period	3.06%
Maximum outstanding at any month end in year-to-date period	$ 10,000
Average daily balance for the year-to-date period	$ 2,628
Weighted average interest rate during period	4.73%

Borrowings - Long-term debt (De

Borrowings - Long-term debt (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Long-term debt
Long-term debt	$ 80,000	$ 80,000
FHLB advances
Long-term debt
Long-term debt	$ 80,000	$ 80,000
Weighted average rate (as a percent)	0.19%	0.15%
FHLB advances | Minimum
Long-term debt
Notes payable maturity date	19 months	19 months
Fixed coupon rate (as a percent)	0.15%	0.10%
FHLB advances | Maximum
Long-term debt
Notes payable maturity date	10 years	10 years
Fixed coupon rate (as a percent)	0.26%	0.28%

Junior Subordinated Debt Owed56

Junior Subordinated Debt Owed to Unconsolidated Trusts (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Junior subordinated debt owed to unconsolidated trusts
Junior subordinated debt owed to unconsolidated trusts	$ 70,834	$ 55,000
Trust Preferred Securities
Junior subordinated debt owed to unconsolidated trusts
Percentage limit on inclusion of qualifying trust preferred securities in Tier I Capital	25.00%
Trust preferred securities qualified as Tier I capital (as a percent)	100.00%
Junior Subordinated Notes | Trust Preferred Securities
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

Earnings Per Common Share (Deta

Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Net income per share calculations for basic and diluted methods
Net income available to common stockholders (in dollars)	$ 15,422	$ 10,444	$ 38,239	$ 27,778
Shares:
Weighted average common shares outstanding	38,256,000	28,989,000	34,009,000	28,992,000
Dilutive effect of outstanding options, warrants and restricted stock units as determined by the application of the treasury stock method (in shares)	398,000	153,000	309,000	171,000
Weighted average common shares outstanding, as adjusted for diluted earnings per share calculation	38,654,000	29,142,000	34,318,000	29,163,000
Basic earnings per common share (in dollars per share)	$ 0.40	$ 0.36	$ 1.12	$ 0.96
Diluted earnings per common share (in dollars per share)	$ 0.40	$ 0.36	$ 1.11	$ 0.95
Stock options
Anti-dilutive securities excluded from the calculation of common stock equivalents
Number of anti-dilutive securities (in shares)			28,350	86,568
Warrants
Anti-dilutive securities excluded from the calculation of common stock equivalents
Number of anti-dilutive securities (in shares)			191,278	191,278
RSU
Anti-dilutive securities excluded from the calculation of common stock equivalents
Number of anti-dilutive securities (in shares)			132,017	112,433

Share-based Compensation (Detai

Share-based Compensation (Details) - USD ($) $ / shares in Units, $ in Thousands	Jul. 25, 2016	Jul. 11, 2016	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Share-based Compensation
Number of shares held in treasury			662,512		662,512		732,887
Shares authorized for repurchase under stock repurchase plan			666,667		666,667
Shares repurchased under stock repurchase plan				333,333
Remaining shares authorized for repurchase under stock repurchase plan			333,334		333,334
Stock option awards
Shares
Outstanding at beginning of year (in shares)					96,568
Converted options from Pulaski (in shares)					309,700
Exercised (in shares)					(44,538)
Forfeited (in shares)					(394)
Expired (in shares)					(50,718)
Outstanding at end of period (in shares)			310,618		310,618
Exercisable at end of period (in shares)			310,618		310,618
Weighted-Average Exercise Price
Outstanding at beginning of year (in dollars per share)					$ 43.64
Converted options from Pulaski (in dollars per share)					13.29
Exercised (in dollars per share)					15.12
Forfeited (in dollars per share)					13.87
Expired (in dollars per share)					58.23
Outstanding at end of period (in dollars per share)			$ 15.12		15.12
Exercisable at end of period (in dollars per share)			$ 15.12		$ 15.12
Weighted-Average Remaining Contractual Term
Outstanding at end of period					1 year 10 months 21 days
Exercisable at end of period					1 year 10 months 21 days
Additional disclosures
Compensation expense recognized			$ 0	$ 0	$ 0	$ 0
RSU
Share-based Compensation
Number of shares of common stock per award					1
Shares
Granted (in shares)		126,669
Shares
Non-vested at beginning of year (in shares)					424,930
Granted (in shares)					126,669
Dividend equivalents earned (in shares)					11,228
Vested (in shares)					(54,913)
Forfeited (in shares)					(5,274)
Non-vested at end of period (in shares)			502,640		502,640
Outstanding at end of period (in shares)			502,640		502,640
Weighted-Average Grant Date Fair Value
Non-vested at beginning of year (in dollars per share)					$ 17.10
Granted (in dollars per share)		$ 22.44			22.44
Dividend equivalents earned (in dollars per share)					20.44
Vested (in dollars per share)					14.61
Forfeited (in dollars per share)					18.11
Non-vested at end of period (in dollars per share)			$ 18.78		18.78
Outstanding at end of period (in dollars per share)			$ 18.78		$ 18.78
Additional disclosures
Compensation expense recognized			$ 500	$ 400	$ 1,300	$ 1,000
Amount of compensation cost to be recognized		$ 2,800	$ 6,400		$ 6,400
Period over which cost will be recognized		5 years			3 years 7 months 6 days
Vesting percentage (as a percent)		100.00%
RSU | Minimum
Share-based Compensation
Requisite service periods					1 year
RSU | Maximum
Share-based Compensation
Requisite service periods					5 years
DSUs
Share-based Compensation
Number of shares of common stock per award					1
Vesting period					12 months
Settlement period					30 days
Shares
Non-vested at beginning of year (in shares)					24,763
Granted (in shares)					22,428
Dividend equivalents earned (in shares)					1,891
Vested (in shares)					(14,301)
Non-vested at end of period (in shares)			34,781		34,781
Outstanding at end of period (in shares)			92,775		92,775
Weighted-Average Grant Date Fair Value
Non-vested at beginning of year (in dollars per share)					$ 19.25
Granted (in dollars per share)					22.44
Dividend equivalents earned (in dollars per share)					20.53
Vested (in dollars per share)					20.10
Non-vested at end of period (in dollars per share)			$ 21.03		21.03
Outstanding at end of period (in dollars per share)			$ 18.50		$ 18.50
DSUs | Directors
Shares
Granted (in shares)	1,250	15,830
Weighted-Average Grant Date Fair Value
Granted (in dollars per share)	$ 22.39	$ 22.44
Additional disclosures
Amount of compensation cost to be recognized		$ 400
Period over which cost will be recognized		1 year
DSUs | Chairman
Shares
Granted (in shares)		5,348
Weighted-Average Grant Date Fair Value
Granted (in dollars per share)		$ 22.44
Additional disclosures
Amount of compensation cost to be recognized		$ 100
Period over which cost will be recognized		5 years
Vesting percentage (as a percent)		100.00%
Pulaski Financial Corp | RSU
Additional disclosures
Number of stock units and dividends accrued			53,004		53,004

Outstanding Commitments and C59

Outstanding Commitments and Contingent Liabilities (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Credit Commitments and Contingencies
Liabilities for potential obligations under guarantees	$ 0	$ 0
Maximum
Credit Commitments and Contingencies
Term for guarantee	1 year
Commitments to extend credit
Credit Commitments and Contingencies
Financial instruments whose contract amounts represent credit risk	$ 939,666	618,551
Standby letters of credit
Credit Commitments and Contingencies
Financial instruments whose contract amounts represent credit risk	$ 17,001	$ 15,325

Capital (Details)

Capital (Details) - USD ($) $ in Thousands	Oct. 21, 2016	Sep. 30, 2016	Jan. 01, 2019	Apr. 30, 2016	Dec. 31, 2015	Jul. 31, 2013
Regulatory Capital
Retained earnings		$ (168,552)			$ (190,265)
Total Capital (to Risk Weighted Assets), Amount
Actual		599,782
Minimum Capital Requirement with Capital Buffer		371,888
Minimum To Be Well Capitalized		$ 431,175
Total Capital (to Risk Weighted Assets), Ratio
Actual (as a percent)		13.91%
Minimum Capital Requirement with Capital Buffer (as a percent)		8.625%
Minimum To Be Well Capitalized (as a percent)		10.00%
Tier 1 Capital (to Risk Weighted Assets), Amount
Actual		$ 551,711
Minimum Capital Requirement with Capital Buffer		285,653
Minimum To Be Well Capitalized		$ 344,940
Tier 1 Capital (to Risk Weighted Assets), Ratio
Actual (as a percent)		12.80%
Minimum Capital Requirement with Capital Buffer (as a percent)		6.625%
Minimum To Be Well Capitalized (as a percent)		8.00%
Common Equity Tier 1 Capital (to Risk Weighted Assets), Amount
Actual		$ 478,569
Minimum Capital Requirement with Capital Buffer		220,977
Minimum To Be Well Capitalized		$ 280,264
Common Equity Tier 1 Capital (to Risk Weighted Assets), Ratio
Actual (as a percent)		11.10%
Minimum Capital Requirement with Capital Buffer (as a percent)		5.125%
Minimum To Be Well Capitalized (as a percent)		6.50%
Tier 1 Capital (to Average Assets), Amount
Actual		$ 551,711
Minimum Capital Requirement with Capital Buffer		$ 215,014
Tier 1 Capital (to Average Assets), Ratio
Actual (as a percent)		10.26%
Minimum Capital Requirement with Capital Buffer (as a percent)		4.00%
Pulaski Financial Corp
Regulatory Capital
Retained earnings				$ 0
Dodd-Frank Act ("Basel III Rules")
Tier 1 Capital (to Average Assets), Ratio
Maximum consolidated assets of bank holding companies						$ 1,000,000
Maximum consolidated assets of bank holding companies to retain the existing treatment for accumulated other comprehensive income which currently does not affect regulatory capital		$ 15,000,000
Common Equity Tier 1 capital conservation buffer of risk weighted assets		2.50%
Capital buffer requirement period		3 years
Increase in minimum capital requirement ratios		0.625%
Forecast
Total Capital (to Risk Weighted Assets), Ratio
Minimum Capital Requirement with Capital Buffer (as a percent)			10.50%
Tier 1 Capital (to Risk Weighted Assets), Ratio
Minimum Capital Requirement with Capital Buffer (as a percent)			8.50%
Common Equity Tier 1 Capital (to Risk Weighted Assets), Ratio
Minimum Capital Requirement with Capital Buffer (as a percent)			7.00%
Busey Bank
Regulatory Capital
Distribution received through chartered amendment	$ 30,000
Total Capital (to Risk Weighted Assets), Amount
Actual		$ 430,356
Minimum Capital Requirement with Capital Buffer		260,677
Minimum To Be Well Capitalized		$ 302,234
Total Capital (to Risk Weighted Assets), Ratio
Actual (as a percent)		14.24%
Minimum Capital Requirement with Capital Buffer (as a percent)		8.625%
Minimum To Be Well Capitalized (as a percent)		10.00%
Tier 1 Capital (to Risk Weighted Assets), Amount
Actual		$ 392,261
Minimum Capital Requirement with Capital Buffer		200,230
Minimum To Be Well Capitalized		$ 241,787
Tier 1 Capital (to Risk Weighted Assets), Ratio
Actual (as a percent)		12.98%
Minimum Capital Requirement with Capital Buffer (as a percent)		6.625%
Minimum To Be Well Capitalized (as a percent)		8.00%
Common Equity Tier 1 Capital (to Risk Weighted Assets), Amount
Actual		$ 392,261
Minimum Capital Requirement with Capital Buffer		154,895
Minimum To Be Well Capitalized		$ 196,452
Common Equity Tier 1 Capital (to Risk Weighted Assets), Ratio
Actual (as a percent)		12.98%
Minimum Capital Requirement with Capital Buffer (as a percent)		5.125%
Minimum To Be Well Capitalized (as a percent)		6.50%
Tier 1 Capital (to Average Assets), Amount
Actual		$ 392,261
Minimum Capital Requirement with Capital Buffer		154,289
Minimum To Be Well Capitalized		$ 192,861
Tier 1 Capital (to Average Assets), Ratio
Actual (as a percent)		10.17%
Minimum Capital Requirement with Capital Buffer (as a percent)		4.00%
Minimum To Be Well Capitalized (as a percent)		5.00%
Pulaski Financial Corp
Total Capital (to Risk Weighted Assets), Amount
Actual		$ 140,824
Minimum Capital Requirement with Capital Buffer		108,433
Minimum To Be Well Capitalized		$ 125,719
Total Capital (to Risk Weighted Assets), Ratio
Actual (as a percent)		11.20%
Minimum Capital Requirement with Capital Buffer (as a percent)		8.625%
Minimum To Be Well Capitalized (as a percent)		10.00%
Tier 1 Capital (to Risk Weighted Assets), Amount
Actual		$ 137,181
Minimum Capital Requirement with Capital Buffer		83,289
Minimum To Be Well Capitalized		$ 100,576
Tier 1 Capital (to Risk Weighted Assets), Ratio
Actual (as a percent)		10.91%
Minimum Capital Requirement with Capital Buffer (as a percent)		6.625%
Minimum To Be Well Capitalized (as a percent)		8.00%
Common Equity Tier 1 Capital (to Risk Weighted Assets), Amount
Actual		$ 137,181
Minimum Capital Requirement with Capital Buffer		64,431
Minimum To Be Well Capitalized		$ 81,718
Common Equity Tier 1 Capital (to Risk Weighted Assets), Ratio
Actual (as a percent)		10.91%
Minimum Capital Requirement with Capital Buffer (as a percent)		5.125%
Minimum To Be Well Capitalized (as a percent)		6.50%
Tier 1 Capital (to Average Assets), Amount
Actual		$ 137,181
Minimum Capital Requirement with Capital Buffer		60,168
Minimum To Be Well Capitalized		$ 75,210
Tier 1 Capital (to Average Assets), Ratio
Actual (as a percent)		9.12%
Minimum Capital Requirement with Capital Buffer (as a percent)		4.00%
Minimum To Be Well Capitalized (as a percent)		5.00%

Operating Segments and Relate61

Operating Segments and Related Information (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)segment	Sep. 30, 2015USD ($)	Dec. 31, 2015USD ($)
Operating Segments and Related Information
Number of reportable segments | segment			3
Goodwill	$ 102,356		$ 102,356		$ 25,510
Total Assets	5,592,241		5,592,241		3,998,976
Net interest income:	44,131	$ 28,195	110,025	$ 82,216
Non-interest income:	20,745	15,889	56,168	48,477
Non-interest expense:	39,415	27,950	103,451	86,942
Income before income taxes:	23,511	16,034	58,692	43,151
Net income:	15,422	10,626	38,239	28,323
Operating segments
Operating Segments and Related Information
Goodwill	102,356		102,356		25,510
Total Assets	5,592,241		5,592,241		3,998,976
Operating segments | Banking
Operating Segments and Related Information
Goodwill	81,670		81,670		4,824
Total Assets	5,557,222		5,557,222		3,944,031
Net interest income:	44,645	28,420	111,206	82,870
Non-interest income:	12,684	7,881	31,404	22,940
Non-interest expense:	31,278	21,114	80,217	65,981
Income before income taxes:	24,102	15,086	58,343	39,229
Net income:	15,590	9,733	37,716	25,518
Operating segments | Remittance Processing
Operating Segments and Related Information
Goodwill	8,992		8,992		8,992
Total Assets	31,665		31,665		30,231
Net interest income:	13	14	41	40
Non-interest income:	2,891	2,973	8,827	8,518
Non-interest expense:	2,091	2,186	6,538	6,337
Income before income taxes:	813	801	2,330	2,221
Net income:	486	479	1,394	1,329
Operating segments | Wealth Management
Operating Segments and Related Information
Goodwill	11,694		11,694		11,694
Total Assets	27,071		27,071		27,651
Net interest income:	77	67	207	206
Non-interest income:	5,477	5,389	17,545	17,930
Non-interest expense:	5,090	3,964	12,899	12,123
Income before income taxes:	463	1,492	4,853	6,013
Net income:	284	894	2,902	3,590
Other
Operating Segments and Related Information
Total Assets	(23,717)		(23,717)		$ (2,937)
Net interest income:	(604)	(306)	(1,429)	(900)
Non-interest income:	(307)	(354)	(1,608)	(911)
Non-interest expense:	956	686	3,797	2,501
Income before income taxes:	(1,867)	(1,345)	(6,834)	(4,312)
Net income:	$ (938)	$ (480)	$ (3,773)	$ (2,114)

Derivative Financial Instrume62

Derivative Financial Instruments (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)
Gross gains and losses on derivative assets and liabilities recorded in Consolidated Statements of Income
Net losses	$ (937)
Non-interest income
Gross gains and losses on derivative assets and liabilities recorded in Consolidated Statements of Income
Gross gains	18,867
Non-interest expense
Gross gains and losses on derivative assets and liabilities recorded in Consolidated Statements of Income
Gross losses	(19,804)
Other assets.
Fair values of derivative assets and liabilities recorded in consolidated balance sheets
Derivative assets	6,325
Other liabilities.
Fair values of derivative assets and liabilities recorded in consolidated balance sheets
Derivative liabilities	9,664
Interest Rate Lock Commitments
Derivative Financial Instruments
Aggregate notional amount	384,100
Forward Sales Commitments
Derivative Financial Instruments
Aggregate notional amount	626,500
Foreign currency forward contracts
Derivative Financial Instruments
Aggregate notional amount	999
Foreign currency forward contracts | Other liabilities.
Gross gains and losses on derivative assets and liabilities recorded in Consolidated Statements of Income
Estimated fair value	3
Foreign
Gross gains and losses on derivative assets and liabilities recorded in Consolidated Statements of Income
Foreign loan balance, gross	$ 1,000

Fair Value Measurements - Gener

Fair Value Measurements - General Disclosures (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Financial assets and financial liabilities measured at fair value
Transfers between levels of fair value hierarchy	$ 0
Securities available for sale	774,683	$ 834,838
Loans held for sale	266,382	9,351
U.S. Treasury securities
Financial assets and financial liabilities measured at fair value
Securities available for sale	65,266	65,191
Obligations of U.S. government corporations and agencies
Financial assets and financial liabilities measured at fair value
Securities available for sale	105,536	132,605
Obligations of states and political subdivisions
Financial assets and financial liabilities measured at fair value
Securities available for sale	163,940	178,612
Residential mortgage-backed securities
Financial assets and financial liabilities measured at fair value
Securities available for sale	289,958	307,549
Corporate debt securities
Financial assets and financial liabilities measured at fair value
Securities available for sale	146,294	148,805
Mutual funds and other equity securities
Financial assets and financial liabilities measured at fair value
Securities available for sale	3,689	2,076
Recurring basis
Financial assets and financial liabilities measured at fair value
Loans held for sale	266,382
Recurring basis | Foreign currency forward contracts
Financial assets and financial liabilities measured at fair value
Derivative assets		4
Derivative liabilities	3	2
Recurring basis | Derivative financial assets
Financial assets and financial liabilities measured at fair value
Derivative assets	6,325
Recurring basis | Derivative financial liabilities
Financial assets and financial liabilities measured at fair value
Derivative liabilities	9,664
Recurring basis | U.S. Treasury securities
Financial assets and financial liabilities measured at fair value
Securities available for sale	65,266	65,191
Recurring basis | Obligations of U.S. government corporations and agencies
Financial assets and financial liabilities measured at fair value
Securities available for sale	105,536	132,605
Recurring basis | Obligations of states and political subdivisions
Financial assets and financial liabilities measured at fair value
Securities available for sale	163,940	178,612
Recurring basis | Residential mortgage-backed securities
Financial assets and financial liabilities measured at fair value
Securities available for sale	289,958	307,549
Recurring basis | Corporate debt securities
Financial assets and financial liabilities measured at fair value
Securities available for sale	146,294	148,805
Recurring basis | Mutual funds and other equity securities
Financial assets and financial liabilities measured at fair value
Securities available for sale	3,689	2,076
Recurring basis | Level 1 | Mutual funds and other equity securities
Financial assets and financial liabilities measured at fair value
Securities available for sale	3,689	2,076
Recurring basis | Level 2
Financial assets and financial liabilities measured at fair value
Loans held for sale	266,382
Recurring basis | Level 2 | Foreign currency forward contracts
Financial assets and financial liabilities measured at fair value
Derivative assets		4
Derivative liabilities	3	2
Recurring basis | Level 2 | Derivative financial assets
Financial assets and financial liabilities measured at fair value
Derivative assets	6,325
Recurring basis | Level 2 | Derivative financial liabilities
Financial assets and financial liabilities measured at fair value
Derivative liabilities	9,664
Recurring basis | Level 2 | U.S. Treasury securities
Financial assets and financial liabilities measured at fair value
Securities available for sale	65,266	65,191
Recurring basis | Level 2 | Obligations of U.S. government corporations and agencies
Financial assets and financial liabilities measured at fair value
Securities available for sale	105,536	132,605
Recurring basis | Level 2 | Obligations of states and political subdivisions
Financial assets and financial liabilities measured at fair value
Securities available for sale	163,940	178,612
Recurring basis | Level 2 | Residential mortgage-backed securities
Financial assets and financial liabilities measured at fair value
Securities available for sale	289,958	307,549
Recurring basis | Level 2 | Corporate debt securities
Financial assets and financial liabilities measured at fair value
Securities available for sale	$ 146,294	$ 148,805

Fair Value Measurements - Addit

Fair Value Measurements - Additional Quantitative Information (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Quantitative Information about Level 3 Fair Value Measurements
Impaired loans	$ 32,725	$ 29,638
Non-recurring basis
Quantitative Information about Level 3 Fair Value Measurements
Impaired loans	1,563	6,138
Non-recurring basis | Level 3
Quantitative Information about Level 3 Fair Value Measurements
Impaired loans	1,563	6,138
Non-recurring basis | Level 3 | Appraisal of collateral | Impaired loans
Quantitative Information about Level 3 Fair Value Measurements
Impaired loans	$ 1,563	$ 6,138
Non-recurring basis | Level 3 | Appraisal of collateral | Impaired loans | Minimum
Quantitative Information about Level 3 Fair Value Measurements
Appraisal adjustments (as a percent)	(1.50%)	(4.30%)
Non-recurring basis | Level 3 | Appraisal of collateral | Impaired loans | Maximum
Quantitative Information about Level 3 Fair Value Measurements
Appraisal adjustments (as a percent)	(100.00%)	(100.00%)
Non-recurring basis | Level 3 | Appraisal of collateral | Impaired loans | Weighted Average
Quantitative Information about Level 3 Fair Value Measurements
Appraisal adjustments (as a percent)	(36.60%)	(30.90%)
Non-recurring basis | Level 3 | Appraisal of collateral | OREO
Quantitative Information about Level 3 Fair Value Measurements
Appraisal adjustments (as a percent)	(100.00%)	(100.00%)
Non-recurring basis | Level 3 | Appraisal of collateral | OREO | Maximum
Quantitative Information about Level 3 Fair Value Measurements
OREO		$ 1
Non-recurring basis | Level 3 | Appraisal of collateral | OREO | Weighted Average
Quantitative Information about Level 3 Fair Value Measurements
Appraisal adjustments (as a percent)	(100.00%)	(100.00%)

Fair Value Measurements - By Le

Fair Value Measurements - By Level of Valuation Inputs (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Financial assets:
Cash and due from banks	$ 358,337	$ 319,280
Federal funds sold	2,498
Securities held to maturity	51,618	50,271
Net portfolio loans	3,759,766	2,580,252
Financial liabilities:
Short-term borrowings	246,700
Junior subordinated debt owed to unconsolidated trusts	70,834	55,000
Level 1 | Carrying Amount
Financial assets:
Cash and due from banks	358,337	319,280
Federal funds sold	2,498
Level 1 | Fair Value
Financial assets:
Cash and due from banks	358,337	319,280
Federal funds sold	2,498
Level 2 | Carrying Amount
Financial assets:
Securities held to maturity	50,460	49,832
Loans held for sale		9,351
Accrued interest receivable	15,817	12,122
Financial liabilities:
Deposits	4,336,506	3,289,106
Securities sold under agreements to repurchase	212,363	172,972
Short-term borrowings	246,700
Long-term debt	80,000	80,000
Junior subordinated debt owed to unconsolidated trusts	70,834	55,000
Accrued interest payable	998	438
Level 2 | Fair Value
Financial assets:
Securities held to maturity	51,618	50,271
Loans held for sale		9,492
Accrued interest receivable	15,817	12,122
Financial liabilities:
Deposits	4,335,196	3,286,677
Securities sold under agreements to repurchase	212,363	172,972
Short-term borrowings	246,700
Long-term debt	80,000	80,000
Junior subordinated debt owed to unconsolidated trusts	70,834	55,000
Accrued interest payable	998	438
Level 3 | Carrying Amount
Financial assets:
Net portfolio loans	3,759,766	2,580,252
Mortgage servicing rights	3,092	3,475
Level 3 | Fair Value
Financial assets:
Net portfolio loans	3,795,090	2,583,458
Mortgage servicing rights	$ 4,853	$ 5,896

Liability for Loans Sold (Detai

Liability for Loans Sold (Details) $ in Millions	9 Months Ended
	Sep. 30, 2016USD ($)
Liability for Loans Sold.
Period after origination for an event of default that may require loan repurchase or reimbursement	90 days
Period after breach of contractual representations or warranties made at the time of sale that are not remedied after the Company receives notice that may require possible loan repurchase or loan reimbursement	90 days
The period after origination for profit refund if the borrower pays off loan	120 days
Liability for loans sold	$ 1.9