Cover
Cover | 12 Months Ended |
Dec. 31, 2022 | |
Document Information [Line Items] | |
Document Type | DEF 14A |
Amendment Flag | false |
Entity Information [Line Items] | |
Entity Registrant Name | FIRST BUSEY CORPORATION |
Entity Central Index Key | 0000314489 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure | 12 Months Ended | ||
Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Pay vs Performance Disclosure [Table] | |||
Pay vs Performance [Table Text Block] | PAY VERSUS PERFORMANCE As required by Section 953(a) of the Dodd-Frank Act, and Item 402(v) of Regulation S-K, we are providing the following information about the relationship between executive compensation actually paid (as determined under Securities and Exchange Commission rules) and certain financial performance of the Company. Pay Versus Performance Table Year SCT Compensation (1) Average Average (1) Value of (2) Value of (3) Net Company (4) 2022 $2,494,467 $2,234,208 $1,272,385 $1,162,227 $101 $98 $128,311 $2.35 2021 $2,116,540 $3,053,103 $1,096,599 $1,630,556 $107 $114 $123,449 $2.45 2020 $2,443,872 $2,009,636 $1,268,627 $1,163,770 $82 $86 $100,344 $1.98 (1) Amounts represent executive compensation actually paid to our CEO and the average executive compensation actually paid to our remaining NEOs for the relevant fiscal year. Executive compensation actually paid to our NEOs represents the “Total” compensation reported in the Summary Compensation Table for the applicable fiscal year, adjusted as follows: 2022 2021 2020 Summary Compensation for CEO Van A. Dukeman $2,494,467 $2,116,540 $2,443,872 Deduction for Amounts Reported under the “Stock Awards” and “Option Awards” Columns in the Summary Compensation Table $(857,155 ) $(840,813 ) $(845,430 ) Addition for the Fair Value of Equity Awards Granted and Related Dividend Equivalents during the year that Remain Outstanding and Unvested as of Year-End $938,801 $905,304 $1,063,782 Addition for the Change in Fair Value of Awards Granted in Prior Years that were Unvested as of Year-End and Related Dividend Equivalents $(266,899 ) $807,199 $(469,722 ) Addition for the Change in Fair Value of Awards Granted in Prior Years that Vested during year and Dividends Paid $(75,006 ) $64,873 $(182,866 ) Compensation Actually Paid to $2,234,208 $3,053,103 $2,009,636 2022 2021 2020 Average Summary Compensation $1,272,385 $1,096,599 $1,268,627 Deduction for Amounts Reported under the “Stock Awards” and “Option Awards” Columns in the Summary Compensation Table $(403,363 ) $(395,677 ) $(397,854 ) Addition for the Fair Value of Equity Awards Granted and Related Dividend Equivalents during the year that Remain Outstanding and Unvested as of Year-End $441,771 $585,440 $500,608 Addition for the Change in Fair Value of Awards Granted in Prior Years that were Unvested as of Year-End and Related Dividend Equivalents $(111,103 ) $325,559 $(165,384 ) Addition for the Change in Fair Value of Awards Granted in Prior Years that Vested during year and Dividends Paid $(37,463 ) $18,635 $(42,227 ) Average Compensation Actually Paid to NEOs $1,162,227 $1,630,556 $1,163,770 NEOs included in Average Summary Compensation and average compensation actually paid Robin N. Elliott (2) Based on initial investment of $100 as of December 31, 2019. (3) Based on initial investment of $100 as of December 31, 2019 and a cumulative Total Shareholder Return of First Busey & S&P U.S. BMI Banks — Midwest Region. (4) Core Earnings Per Share is the same as adjusted diluted earnings per share, a non-GAAP financial measure — see Non-GAAP Financial Information in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022. | ||
Company Selected Measure Name | Core Earnings Per Share | ||
Named Executive Officers, Footnote [Text Block] | Robin N. Elliott | ||
Peer Group Issuers, Footnote [Text Block] | (2) Based on initial investment of $100 as of December 31, 2019. (3) Based on initial investment of $100 as of December 31, 2019 and a cumulative Total Shareholder Return of First Busey & S&P U.S. BMI Banks — Midwest Region. | ||
PEO Total Compensation Amount | $ 2,494,467 | $ 2,116,540 | $ 2,443,872 |
PEO Actually Paid Compensation Amount | $ 2,234,208 | 3,053,103 | 2,009,636 |
Adjustment To PEO Compensation, Footnote [Text Block] | (1) Amounts represent executive compensation actually paid to our CEO and the average executive compensation actually paid to our remaining NEOs for the relevant fiscal year. Executive compensation actually paid to our NEOs represents the “Total” compensation reported in the Summary Compensation Table for the applicable fiscal year, adjusted as follows: 2022 2021 2020 Summary Compensation for CEO Van A. Dukeman $2,494,467 $2,116,540 $2,443,872 Deduction for Amounts Reported under the “Stock Awards” and “Option Awards” Columns in the Summary Compensation Table $(857,155 ) $(840,813 ) $(845,430 ) Addition for the Fair Value of Equity Awards Granted and Related Dividend Equivalents during the year that Remain Outstanding and Unvested as of Year-End $938,801 $905,304 $1,063,782 Addition for the Change in Fair Value of Awards Granted in Prior Years that were Unvested as of Year-End and Related Dividend Equivalents $(266,899 ) $807,199 $(469,722 ) Addition for the Change in Fair Value of Awards Granted in Prior Years that Vested during year and Dividends Paid $(75,006 ) $64,873 $(182,866 ) Compensation Actually Paid to $2,234,208 $3,053,103 $2,009,636 | ||
Non-PEO NEO Average Total Compensation Amount | $ 1,272,385 | 1,096,599 | 1,268,627 |
Non-PEO NEO Average Compensation Actually Paid Amount | $ 1,162,227 | 1,630,556 | 1,163,770 |
Adjustment to Non-PEO NEO Compensation Footnote [Text Block] | (1) Amounts represent executive compensation actually paid to our CEO and the average executive compensation actually paid to our remaining NEOs for the relevant fiscal year. Executive compensation actually paid to our NEOs represents the “Total” compensation reported in the Summary Compensation Table for the applicable fiscal year, adjusted as follows: 2022 2021 2020 Average Summary Compensation Deduction for Amounts Reported under the “Stock Awards” and “Option Awards” Columns in the Summary Compensation Table Addition for the Fair Value of Equity Awards Granted and Related Dividend Equivalents during the year that Remain Outstanding and Unvested as of Year-End Addition for the Change in Fair Value of Awards Granted in Prior Years that were Unvested as of Year-End and Related Dividend Equivalents Addition for the Change in Fair Value of Awards Granted in Prior Years that Vested during year and Dividends Paid Average Compensation Actually Paid to NEOs | ||
Compensation Actually Paid vs. Total Shareholder Return [Text Block] | |||
Compensation Actually Paid vs. Net Income [Text Block] | |||
Compensation Actually Paid vs. Company Selected Measure [Text Block] | |||
Tabular List [Table Text Block] | Pay Versus Performance Tabular List We believe the following performance measures represent the most important financial performance measures used by us to link compensation actually paid to our NEOs for the fiscal year ended December 31, 2022: • Core Earnings Per Share • Asset Quality Ratio • Core Return on average Tangible Common Equity • Relative Total Shareholder Return • Non-Bank Revenue • Net Promoter Score • Gallup Engagement Score | ||
Total Shareholder Return Amount | $ 101 | 107 | 82 |
Peer Group Total Shareholder Return Amount | 98 | 114 | 86 |
Net Income (Loss) | $ 128,311,000 | $ 123,449,000 | $ 100,344,000 |
Company Selected Measure Amount | 2.35 | 2.45 | 1.98 |
PEO Name | Van A. Dukeman | ||
Measure [Axis]: 1 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Core Earnings Per Share | ||
Non-GAAP Measure Description [Text Block] | (4) Core Earnings Per Share is the same as adjusted diluted earnings per share, a non-GAAP financial measure — see Non-GAAP Financial Information in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022. | ||
Measure [Axis]: 2 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Asset Quality Ratio | ||
Measure [Axis]: 3 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Core Return on average Tangible Common Equity | ||
Measure [Axis]: 4 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Relative Total Shareholder Return | ||
Measure [Axis]: 5 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Non-Bank Revenue | ||
Measure [Axis]: 6 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Net Promoter Score | ||
Measure [Axis]: 7 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Gallup Engagement Score | ||
PEO [Member] | Stock Awards and Option Awards [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ (857,155) | $ (840,813) | $ (845,430) |
PEO [Member] | Fair Value of Equity Awards Granted and Related Dividend Equivalents During the Year that Remain Outstanding and Unvested as of Year-End [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 938,801 | 905,304 | 1,063,782 |
PEO [Member] | Change in Fair Value of Awards Granted in Prior Years that were Unvested as of Year-End and Related Dividend Equivalents [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (266,899) | 807,199 | (469,722) |
PEO [Member] | Change in Fair Value of Awards Granted in Prior Years that Vested During Year and Dividends Paid [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (75,006) | 64,873 | (182,866) |
Non-PEO NEO [Member] | Stock Awards and Option Awards [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (403,363) | (395,677) | (397,854) |
Non-PEO NEO [Member] | Fair Value of Equity Awards Granted and Related Dividend Equivalents During the Year that Remain Outstanding and Unvested as of Year-End [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 441,771 | 585,440 | 500,608 |
Non-PEO NEO [Member] | Change in Fair Value of Awards Granted in Prior Years that were Unvested as of Year-End and Related Dividend Equivalents [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (111,103) | 325,559 | (165,384) |
Non-PEO NEO [Member] | Change in Fair Value of Awards Granted in Prior Years that Vested During Year and Dividends Paid [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ (37,463) | $ 18,635 | $ (42,227) |