First Busey (BUSE) 10-Q 6 Aug 20 2020 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2020	Aug. 06, 2020
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2020
Entity File Number	0-15950
Entity Registrant Name	FIRST BUSEY CORPORATION
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	37-1078406
Entity Address, Address Line One	100 W. University Ave.
Entity Address, City or Town	Champaign
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	61820
City Area Code	217
Local Phone Number	365-4544
Title of 12(b) Security	Common Stock, $.001 par value
Trading Symbol	BUSE
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		54,516,112
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Entity Central Index Key	0000314489
Amendment Flag	false

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Assets
Cash and due from banks	$ 125,261	$ 136,546
Interest-bearing deposits	924,811	392,742
Total cash and cash equivalents	1,050,072	529,288
Debt securities available for sale	1,696,866	1,648,257
Equity securities	5,126	5,952
Loans held for sale, at fair value	108,140	68,699
Portfolio loans (net of allowance 2020 $96,046; 2019 $53,748)	7,132,974	6,633,501
Premises and equipment, net	146,951	151,267
Right of use asset	8,511	9,490
Goodwill	311,536	311,536
Other intangible assets, net	56,517	61,593
Cash surrender value of bank owned life insurance	174,544	173,595
Other assets	144,728	102,551
Total assets	10,835,965	9,695,729
Deposits:
Noninterest-bearing	2,764,408	1,832,619
Interest-bearing	6,145,258	6,069,777
Total deposits	8,909,666	7,902,396
Securities sold under agreements to repurchase	194,249	205,491
Short-term borrowings	24,648	8,551
Long-term debt	35,101	83,600
Senior notes, net of unamortized issuance costs	39,741	39,674
Subordinated notes, net of unamortized issuance costs	181,995	59,248
Junior subordinated debt owed to unconsolidated trusts	71,387	71,308
Lease liability	8,601	9,552
Other liabilities	134,493	95,475
Total liabilities	9,599,881	8,475,295
Outstanding commitments and contingent liabilities (see Notes 10 and 15)
Stockholders' Equity
Common stock, $.001 par value, authorized 2020 100,000,000 shares; authorized 2019 66,666,667 shares; 55,910,733 shares issued	56	56
Additional paid-in capital	1,248,045	1,248,216
Accumulated deficit	(13,951)	(14,813)
Accumulated other comprehensive income (loss)	37,037	14,960
Total stockholders' equity before treasury stock	1,271,187	1,248,419
Treasury stock at cost, 1,394,733 and 1,121,961 shares, respectively	(35,103)	(27,985)
Total stockholders' equity	1,236,084	1,220,434
Total liabilities and stockholders' equity	$ 10,835,965	$ 9,695,729
Common shares outstanding at period end	54,516,000	54,788,772

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
CONSOLIDATED BALANCE SHEETS (Unaudited)
Portfolio Loans, allowance for loan losses (in dollars)	$ 96,046	$ 53,748
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	66,666,667
Common stock, shares issued	55,910,733	55,910,733
Treasury Stock, Shares	1,394,733	1,121,961

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Interest income:
Interest and fees on loans	$ 71,089	$ 78,031	$ 143,625	$ 149,820
Interest and dividends on investment securities:
Taxable interest income	8,833	11,152	18,341	21,336
Non-taxable interest income	1,166	1,200	2,317	2,276
Other interest income	145	1,083	1,383	2,315
Total interest income	81,233	91,466	165,666	175,747
Interest expense:
Deposits	7,721	14,154	19,948	26,654
Federal funds purchased and securities sold under agreements to repurchase	100	627	508	1,210
Short-term borrowings	118	494	185	685
Long-term debt	34	741	457	1,320
Senior notes	399	399	799	799
Subordinated notes	1,312	731	2,043	1,462
Junior subordinated debt owed to unconsolidated trusts	736	892	1,480	1,806
Total interest expense	10,420	18,038	25,420	33,936
Net interest income	70,813	73,428	140,246	141,811
Provision for credit losses	12,891	2,517	30,107	4,628
Net interest income after provision for credit losses	57,922	70,911	110,139	137,183
Non-interest income:
Mortgage revenue	2,705	2,851	4,086	4,796
Income on bank owned life insurance	2,282	2,102	3,339	3,080
Net gains (losses) on sales of securities	125	(10)	1,699	(184)
Unrealized gains (losses) recognized on equity securities	190	(1,016)	(797)	(800)
Other income	1,726	1,068	2,549	3,142
Total non-interest income	27,964	27,896	55,481	53,841
Non-interest expense:
Salaries, wages and employee benefits	28,555	34,268	62,558	66,609
Data processing	4,051	5,616	8,446	10,017
Net occupancy expense of premises	4,448	4,511	9,163	8,713
Furniture and equipment expenses	2,537	2,352	4,986	4,447
Professional fees	1,986	3,192	3,810	6,379
Amortization of intangible assets	2,519	2,412	5,076	4,506
Other expense	8,972	15,669	19,543	24,512
Total non-interest expense	53,068	68,020	113,582	125,183
Income before income taxes	32,818	30,787	52,038	65,841
Income taxes	7,012	6,702	10,868	16,287
Net income	$ 25,806	$ 24,085	$ 41,170	$ 49,554
Basic earnings per common share (in dollars per share)	$ 0.47	$ 0.43	$ 0.75	$ 0.91
Diluted earnings per common share (in dollars per share)	0.47	0.43	0.75	0.90
Dividends declared per share of common stock (in dollars per share)	$ 0.22	$ 0.21	$ 0.44	$ 0.42
Wealth management fees
Non-interest income:
Non-interest income	$ 10,193	$ 9,488	$ 21,748	$ 18,517
Fees for customer services
Non-interest income:
Non-interest income	7,025	9,696	15,386	17,793
Remittance processing
Non-interest income:
Non-interest income	$ 3,718	$ 3,717	$ 7,471	$ 7,497

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited)
Net income	$ 25,806	$ 24,085	$ 41,170	$ 49,554
Unrealized gains (losses) on debt securities available for sale:
Net unrealized holding gains (losses) on debt securities available for sale, net of taxes of $(1,670), $(5,189), $(10,259) and $(7,129), respectively	4,187	13,025	25,684	17,885
Net unrealized losses on debt securities transferred from held to maturity to available for sale, net of taxes of $- , $-, $- and $(1,364), respectively				3,416
Reclassification adjustment for realized (gains) losses on debt securities available for sale included in net income, net of taxes of $41, $(3), $489 and $(55), respectively	(102)	7	(1,210)	138
Net change in unrealized gains (losses) on debt securities available for sale	4,085	13,032	24,474	21,439
Unrealized gains (losses) on cash flow hedges:
Net unrealized holding (losses) gains on cash flow hedges, net of taxes of $4, $-, $896 and $-, respectively	(10)		(2,247)
Reclassification adjustment for realized losses (gains) on cash flow hedges included in net income, net of taxes of $56, $-, $60 and $-, respectively	(139)		(150)
Net change in unrealized gains (losses) on derivative instruments	(149)		(2,397)
Net change in accumulated other comprehensive income (loss)	3,936	13,032	22,077	21,439
Total comprehensive income	$ 29,742	$ 37,117	$ 63,247	$ 70,993

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited)
Unrealized holding gains (losses) on debt securities available for sale, Tax Effect	$ (1,670)	$ (5,189)	$ (10,259)	$ (7,129)
Unrealized gains (losses) on debt securities transferred from held to maturity to available for sale, Tax Effect				(1,364)
Amounts reclassified from accumulated other comprehensive income, Tax Effect	41	(3)	489	(55)
Tax expense on unrealized holding (losses) gains on cash flow hedges	4		896
Tax expense on reclassification adjustment for realized losses (gains) on cash flow hedges included in net income	$ 56		$ 60

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands	Common Stock	Additional Paid-in Capital	Accumulated (Deficit)	Accumulated Other Comprehensive Income (Loss)	Treasury Stock	Total
Beginning balance at Dec. 31, 2018	$ 49	$ 1,080,084	$ (72,167)	$ (6,812)	$ (6,190)	$ 994,964
Beginning Balance (in shares) at Dec. 31, 2018	48,874,836
Increase (decrease) in shareholders' equity
Net income			49,554			49,554
Other comprehensive income (loss)				21,439		21,439
Repurchase of stock					(8,433)	(8,433)
Repurchase of stock (in shares)	(333,334)
Issuance of treasury stock for employee stock purchase plan		79			306	385
Issuance of treasury stock for employee stock purchase plan (in shares)	16,150
Net issuance of treasury stock for restricted/deferred stock unit vesting and related tax		(2,535)			345	(2,190)
Net issuance of treasury stock for restricted/deferred stock unit vesting and related tax (in shares)	91,032
Net issuance of treasury stock for stock options exercised, net of shares redeemed and related tax		(91)			1,615	1,524
Net issuance of treasury stock for stock options exercised, net of shares redeemed and related tax (in shares)	12,800
Cash dividends common stock			(21,947)			(21,947)
Stock dividend equivalents restricted stock units		318	(318)
Stock-based compensation		2,031				2,031
Stock issued in acquisition of Banc Ed, net of stock issuance costs	$ 7	166,274				166,281
Stock issued in acquisition of Banc Ed, net of stock issuance costs (in shares)	6,725,152
Ending balance at Jun. 30, 2019	$ 56	1,246,160	(44,878)	14,627	(12,357)	1,203,608
Ending Balance (in shares) at Jun. 30, 2019	55,386,636
Beginning balance at Mar. 31, 2019	$ 56	1,247,340	(57,125)	1,595	(5,725)	1,186,141
Beginning Balance (in shares) at Mar. 31, 2019	55,624,627
Increase (decrease) in shareholders' equity
Net income			24,085			24,085
Other comprehensive income (loss)				13,032		13,032
Repurchase of stock					(8,433)	(8,433)
Repurchase of stock (in shares)	(333,334)
Issuance of treasury stock for employee stock purchase plan		29			84	113
Issuance of treasury stock for employee stock purchase plan (in shares)	4,419
Net issuance of treasury stock for restricted/deferred stock unit vesting and related tax		(2,364)			174	(2,190)
Net issuance of treasury stock for restricted/deferred stock unit vesting and related tax (in shares)	81,962
Net issuance of treasury stock for stock options exercised, net of shares redeemed and related tax		(19)			1,543	1,524
Net issuance of treasury stock for stock options exercised, net of shares redeemed and related tax (in shares)	8,962
Cash dividends common stock			(11,681)			(11,681)
Stock dividend equivalents restricted stock units		157	(157)
Stock-based compensation		1,017				1,017
Ending balance at Jun. 30, 2019	$ 56	1,246,160	(44,878)	14,627	(12,357)	1,203,608
Ending Balance (in shares) at Jun. 30, 2019	55,386,636
Beginning balance at Dec. 31, 2019	$ 56	1,248,216	(14,813)	14,960	(27,985)	1,220,434
Beginning Balance (in shares) at Dec. 31, 2019	54,788,772
Increase (decrease) in shareholders' equity
Net income			41,170			41,170
Other comprehensive income (loss)				22,077		22,077
Repurchase of stock					(9,669)	(9,669)
Repurchase of stock (in shares)	(407,850)
Issuance of treasury stock for employee stock purchase plan		(45)			388	343
Issuance of treasury stock for employee stock purchase plan (in shares)	20,532
Net issuance of treasury stock for restricted/deferred stock unit vesting and related tax		(2,646)			2,011	(635)
Net issuance of treasury stock for restricted/deferred stock unit vesting and related tax (in shares)	106,477
Net issuance of treasury stock for stock options exercised, net of shares redeemed and related tax		(51)			152	101
Net issuance of treasury stock for stock options exercised, net of shares redeemed and related tax (in shares)	8,069
Cash dividends common stock			(24,023)			(24,023)
Stock dividend equivalents restricted stock units		363	(363)
Stock-based compensation		2,208				2,208
Ending balance at Jun. 30, 2020	$ 56	1,248,045	(13,951)	37,037	(35,103)	1,236,084
Ending Balance (in shares) at Jun. 30, 2020	54,516,000
Beginning balance at Mar. 31, 2020	$ 56	1,249,301	(27,599)	33,101	(37,274)	1,217,585
Beginning Balance (in shares) at Mar. 31, 2020	54,401,208
Increase (decrease) in shareholders' equity
Net income			25,806			25,806
Other comprehensive income (loss)				3,936		3,936
Repurchase of stock, balance					3	3
Issuance of treasury stock for employee stock purchase plan		(7)			119	112
Issuance of treasury stock for employee stock purchase plan (in shares)	6,296
Net issuance of treasury stock for restricted/deferred stock unit vesting and related tax		(2,467)			1,907	(560)
Net issuance of treasury stock for restricted/deferred stock unit vesting and related tax (in shares)	100,968
Net issuance of treasury stock for stock options exercised, net of shares redeemed and related tax		(41)			142	101
Net issuance of treasury stock for stock options exercised, net of shares redeemed and related tax (in shares)	7,528
Cash dividends common stock			(11,968)			(11,968)
Stock dividend equivalents restricted stock units		190	(190)
Stock-based compensation		1,069				1,069
Ending balance at Jun. 30, 2020	$ 56	$ 1,248,045	(13,951)	$ 37,037	$ (35,103)	1,236,084
Ending Balance (in shares) at Jun. 30, 2020	54,516,000
Increase (decrease) in shareholders' equity
Cumulative change in accounting principal			$ (15,922)			$ (15,922)

CONSOLIDATED STATEMENTS OF ST_2

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited)
Cash dividends, common stock (in dollars per share)	$ 0.22	$ 0.21	$ 0.44	$ 0.42
Stock dividends, restricted stock units (in dollars per share)	$ 0.22	$ 0.21	$ 0.44	$ 0.42

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash Flows from Operating Activities
Net income	$ 41,170	$ 49,554
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses	30,107	4,628
Amortization of intangible assets	5,076	4,506
Amortization of mortgage servicing rights	2,625	1,222
Depreciation and amortization of premises and equipment	6,316	5,674
Net amortization (accretion) of premium (discount) on portfolio loans	(4,663)	(5,729)
Net amortization (accretion) of premium (discount) on investment securities	4,061	2,843
Net amortization (accretion) of premium (discount) on time deposits	(709)	(802)
Net amortization (accretion) of premium (discount) on Federal Home Loan Bank ("FHLB") advances and other borrowings	220	125
Impairment of other real estate owned ("OREO")		54
Impairment of fixed assets held for sale	36
Impairment of mortgage servicing rights	526	1,822
Impairment of leases		415
Change in fair value of equity securities, net	797	800
(Gain) loss on equity securities		(8)
(Gain) loss on sales of debt securities, net	(1,699)	192
(Gain) loss on sale of loans, net	11,387	5,615
(Gain) loss on sale of OREO	47	(86)
(Gain) loss on sale of premises and equipment	191	116
(Gain) loss on life insurance proceeds	(1,256)	(1,016)
Provision for deferred income taxes	(1,142)	3,816
Stock-based and non-cash compensation	2,208	2,031
Decrease in deferred compensation		(6,781)
Increase in cash surrender value of bank owned life insurance	(2,083)	(2,064)
Mortgage loans originated for sale	(511,670)	(245,581)
Proceeds from sales of mortgage loans	483,238	239,252
Net change in operating assets and liabilities:
Decrease (increase) in other assets	12,225	822
(Decrease) increase in other liabilities	496	(12,826)
Net cash (used in) provided by operating activities	54,730	37,364
Cash Flows from Investing Activities
Purchase of equity securities	(4)
Purchases of debt securities available for sale	(356,700)	(227,182)
Purchase of FHLB stock		(3,700)
Proceeds from sales of equity securities	33	958
Proceeds from sales of debt securities available for sale		227,371
Proceeds from paydowns and maturities of debt securities held to maturity		13,922
Proceeds from paydowns and maturities of debt securities available for sale	315,988	146,566
Proceeds from the redemption of FHLB stock		3,720
Net cash (received) paid in acquisitions		(49,387)
Net change in loans	(546,599)	(89,642)
Cash paid for premiums on bank-owned life insurance	(116)	(3)
Purchases of premises and equipment	(3,029)	(5,918)
Proceeds from life insurance	2,512	1,672
Proceeds from disposition of premises and equipment	802	3
Capitalized expenditures on OREO		(2)
Proceeds from sale of OREO	413	1,119
Net cash (used in) provided by investing activities	(586,700)	19,497
Cash Flows from Financing Activities
Net change in deposits	1,007,979	145,499
Net change in federal funds purchased and securities sold under agreements to repurchase	(11,242)	(45,549)
Proceeds from other borrowings	142,634	60,000
Repayment of other borrowings	(54,000)	(3,000)
Net change in short-term FHLB advances	1,609	(2,297)
Cash dividends paid	(24,023)	(21,947)
Purchase of treasury stock	(9,669)	(8,433)
Cash paid for withholding taxes on share-based payments	(635)	(835)
Proceeds from stock options exercised	101	169
Common stock issuance costs		(234)
Net cash (used in) provided by financing activities	1,052,754	123,373
Net (decrease) increase in cash and cash equivalents	520,784	180,234
Cash and cash equivalents, beginning of period	529,288	239,973
Cash and cash equivalents, ending of period	1,050,072	420,207
Cash Payments for:
Interest	25,761	33,122
Income taxes	4,510	10,555
Non-cash Investing and Financing Activities:
OREO acquired in settlement of loans	$ 1,158	1,396
Transfer of debt securities held to maturity to available for sale		$ 573,639

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Jun. 30, 2020
Significant Accounting Policies
Significant Accounting Policies	Note 1: Significant Accounting Policies ​ Basis of Financial Statement Presentation ​ When preparing these unaudited consolidated financial statements of First Busey Corporation, a Nevada corporation, and its subsidiaries (collectively, “First Busey,” “Company,” “we,” or “our”), we have assumed that you have read the audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2019 (“2019 Form 10-K”). These interim unaudited consolidated financial statements serve to update our 2019 Form 10-K and may not include all information and notes necessary to constitute a complete set of financial statements. ​ We prepared these unaudited consolidated financial statements in accordance with accounting principles generally accepted in the United States of America (“GAAP”). We have eliminated intercompany accounts and transactions. We have also reclassified certain prior year amounts to conform to the current period presentation. These reclassifications did not have a material impact on our consolidated financial condition or results of operations. ​ In our opinion, the unaudited consolidated financial statements reflect all normal, recurring adjustments needed to present fairly our results for the interim periods. The results of operations for interim periods are not necessarily indicative of the results that may be expected for the full year or any other interim period. ​ Impacts of COVID-19 ​ First Busey continues to operate as an essential community resource during these challenging and unprecedented times. The coronavirus disease 2019 (“COVID-19”) is not only impacting health and safety around the world, it is causing significant economic disruption for both individuals and businesses, making the Company’s promise of support even more important to customers. The Company entered this crisis from a position of strength and remains resolute in its focus on protecting its balance sheet. To further enhance the Company’s strong liquidity position, during the second quarter, the Company completed a successful public offering of $125.0 million of its 5.25% fixed-to-floating rate subordinated notes due 2030. The progression of the COVID-19 pandemic in the United States began to negatively impact the Company’s results of operations starting in the first quarter of 2020. In future quarters, COVID-19 is expected to have a complex and continued adverse impact on the economy, the banking industry and First Busey, all subject to a high degree of uncertainty as it relates to both timing and severity. Primary areas of potential future impact for First Busey may include continued margin compression, increased provision expense, a deterioration in asset quality and lower wealth management fees and fees for customer services. ​ The Company elected to participate in the Paycheck Protection Program (“PPP”) and at June 30, 2020 had $746.4 million in PPP loans outstanding, with an amortized cost of $729.3 million, representing 4,445 new and existing customers. The company received fees totaling approximately $25.0 million and incurred incremental direct origination costs of $4.9 million, both of which have been deferred and are being amortized over the contractual life of these loans, subject to prepayment. The Company recognized $3.0 million of this net amount into interest income in the second quarter of 2020. ​ Subsequent Events ​ 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. Subsequent to quarter end, the Company decided to consolidate 12 banking centers. One-time expenses expected in relation to the banking center closings are anticipated to be incurred during the third and fourth quarters of 2020. There were no other significant subsequent events for the quarter ended June 30, 2020 through the issuance date of these unaudited consolidated financial statements that warranted adjustment to or disclosure in the unaudited consolidated financial statements. ​ Use of Estimates ​ In preparing the accompanying unaudited consolidated financial statements in conformity with GAAP, the Company’s management is required to make estimates and assumptions that affect the amounts reported in the financial statements and the disclosures provided. Actual results could differ from those estimates. Material estimates which are particularly susceptible to significant change in the near term relate to the fair value of investment securities, fair value of assets acquired and liabilities assumed in business combinations, goodwill, income taxes and the determination of the allowance. ​ Impact of recently adopted accounting standards On January 1, 2020, First Busey adopted Accounting Standards Update (“ASU”) 2016-13 Financial Instruments – Credit Losses (“Topic 326”): Measurement of Credit Losses on Financial Instruments , as amended, which replaces the incurred loss methodology with an expected loss methodology that is referred to as the current expected credit loss (“CECL”) methodology. The measurement of expected credit losses under the CECL methodology is applicable to financial assets measured at amortized cost, including loan receivables and held-to-maturity debt securities. It also applies to off-balance-sheet credit exposures not accounted for as insurance (loan commitments, standby letters of credit, financial guarantees, and other similar instruments) and net investments in leases recognized by a lessor in accordance with Topic 842 on leases. In addition, Accounting Standards Codification (“ASC”) 326 made changes to the accounting for available-for-sale debt securities. One such change is to require credit losses to be presented as an allowance rather than as a write-down on available-for-sale debt securities management does not intend to sell or believes that it is more likely than not they will not be required to sell before recovery of its amortized cost basis. ​ First Busey adopted ASC 326 using the modified retrospective method for all financial assets measured at amortized cost and off-balance-sheet credit exposures. Results for reporting periods beginning after January 1, 2020 are presented under ASC 326 while prior period amounts continue to be reported in accordance with previously applicable GAAP which includes a change in terminology from Allowance/Provision for Loan Losses to Allowance/Provision for Credit Losses. First Busey recorded a net decrease to retained earnings of $15.9 million as of January 1, 2020 for the cumulative effect of adopting ASC 326. This transition adjustment included $12.0 million in allowance for credit losses on loans and $3.9 million in reserve for off-balance-sheet credit exposures. ​ First Busey adopted ASC 326 using the prospective transition approach for financial assets purchased with credit deterioration (“PCD”) that were previously classified as purchased credit impaired (“PCI”) and accounted for under ASC 310-30. In accordance with the standard, management did not reassess whether PCI assets met the criteria of PCD assets as of the date of adoption. In accordance with ASC 326, the amortized cost basis of PCD assets were adjusted to reflect an allowance for credit losses for any remaining credit discount. Subsequent changes in expected cash flows will be adjusted through the allowance for credit losses. The noncredit discount will be accreted into interest income at the effective interest rate as of January 1, 2020. The following table illustrates the impact of ASC 326 (dollars in thousands) : ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 1, 2020 ​ ​ ​ ​ ​ ​ Pre-tax ​ ​ Post ASC 326 ​ Pre-ASC 326 ​ impact of ASC 326 ​ Adoption Adoption Adoption Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ $ 19,006 ​ $ 18,291 ​ $ 715 Commercial real estate ​ ​ 30,496 ​ ​ 21,190 ​ ​ 9,306 Real estate construction ​ ​ 6,158 ​ ​ 3,204 ​ ​ 2,954 Retail real estate ​ ​ 13,787 ​ ​ 10,495 ​ ​ 3,292 Retail other ​ ​ 1,134 ​ ​ 568 ​ ​ 566 Total allowance for credit losses ​ $ 70,581 ​ $ 53,748 ​ $ 16,833 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ Reserve for off-balance-sheet credit exposures ​ $ 5,492 ​ — ​ 5,492 ​ Allowance-debt securities available for sale ​ Debt securities available for sale are not within the scope of CECL, however, the accounting for credit losses on these securities is affected by ASC 326-30. A debt security available for sale is impaired if the fair value of the security declines below its amortized cost basis. To determine the appropriate accounting, the Company must first determine if it intends to sell the security or if it is more likely than not that it will be required to sell the security before the fair value increases to at least the amortized cost basis. If either of those selling events is expected, the Company will write down the amortized cost basis of the security to its fair value. This is achieved by writing off any previously recorded allowance, if applicable, and recognizing any incremental impairment through earnings. If the Company does not intend to sell the security nor believes it more likely than not will be required to sell the security before the fair value recovers to the amortized cost basis, the Company must determine whether any of the decline in fair value has resulted from a credit loss, or if it is entirely the result of noncredit factors. ​ The Company considers the following factors in assessing whether the decline is due to a credit loss: ​ ● Extent to which the fair value is less than the amortized cost basis. ● Adverse conditions specifically related to the security, an industry, or a geographic area (for example, changes in the financial condition of the issuer of the security, or in the case of an asset-backed debt security, in the financial condition of the underlying loan obligors). ● Payment structure of the debt security and the likelihood of the issuer being able to make payments that increase in the future. ● Failure of the issuer of the security to make scheduled interest or principal payments. ● Any changes to the rating of the security by a rating agency. ​ Impairment related to a credit loss must be measured using the discounted cash flow method. Credit loss recognition is limited to the fair value of the security. The impairment is recognized by establishing an allowance for credit losses through provision for credit losses. Impairment related to noncredit factors is recognized in accumulated other comprehensive income, net of applicable taxes. ​ Accrued interest receivable for debt securities available for sale totaled $6.1 million at June 30, 2020 and is excluded from the estimate of credit losses. Accrued interest receivable is reported in Other Assets on the unaudited Consolidated Balance Sheets. Allowance – portfolio loans ​ The allowance for credit losses is a significant estimate in the Company’s unaudited Consolidated Balance Sheet, affecting both earnings and capital. The allowance for credit losses is a valuation account that is deducted from the portfolio loans’ amortized cost bases to present the net amount expected to be collected on the portfolio loans. Portfolio loans are charged off against the allowance when management believes the uncollectibility of a loan balance is confirmed. Recoveries do not exceed the aggregate of amounts previously charged-off. The allowance for credit losses is established through provision for credit loss expense charged to income. ​ A loan’s amortized cost basis is comprised of the unpaid principal balance of the loan, accrued interest receivable, purchase premiums or discounts, and net deferred origination fees or costs. The Company has estimated its allowance on the amortized cost basis, exclusive of government guaranteed loans and accrued interest receivable. The Company writes-off uncollectible accrued interest receivable in a timely manner and has elected to not measure an allowance for accrued interest receivable. The Company presents the aggregate amount of accrued interest receivable for all financial instruments in other assets on the unaudited Consolidated Balance Sheets and the balance of accrued interest receivable is disclosed in “Note 14: Fair Value Measurements.” ​ Its methodology influences, and is influenced by, the Company’s overall credit risk management processes. The allowance for credit losses is managed in accordance with GAAP to provide an adequate reserve for expected credit losses that is reflective of management’s best estimate of what is expected to be collected. The allowance for credit losses is measured on a collective pool basis when similar risk characteristics exist. Loans that do not share risk characteristics are evaluated on an individual basis. ​ The measurement of expected credit losses is based on relevant information about past events, including historical experience, current conditions and reasonable and supportable forecasts that affect the collectability of the amortized cost basis. Adjustments to historical loss information are made for differences in current loan-specific risk characteristics such as differences in underwiring standards, portfolio mix, delinquency level, or term as well as for changes in environmental conditions such as changes in unemployment rates, property values and other relevant factors. The calculation also contemplates that the Company may not be able to make or obtain such forecasts for the entire life of the financial assets and requires a reversion to historical credit loss information. At implementation, the Company selected an eight quarter forecast period with an immediate reversion to historical loss rates as management felt this period could be reasonably forecasted and was consistent with forecast periods used in other areas of finance. During the first quarter of 2020, the Company reduced its reasonable and supportable forecast period from eight quarters to four quarters. Due to rapidly changing forecasts around the impact of COVID-19, the Company does not believe it has the ability to incorporate reasonable and supportable forecasts into its CECL models extending beyond four quarters. ​ Ongoing impacts of the CECL methodology will be dependent upon changes in economic conditions and forecasts, originated and acquired loan portfolio composition, credit performance trends, portfolio duration, and other factors. ​ Reserve for Off-balance-sheet credit exposures ​ In estimating expected credit losses for off-balance-sheet credit exposures, the Company is required to estimate expected credit losses over the contractual period in which it is exposed to credit risk via a present contractual obligation to extend credit, unless that obligation is unconditionally cancellable by the issuer. To be considered unconditionally cancelable for accounting purposes, the Company must have the ability to, at any time, with or without cause, refuse to extend credit under the commitment. Off-balance-sheet credit exposure segments share the same risk characteristics as portfolio loans. The Company incorporates a probability of funding and utilizes the allowance for credit losses loss rates to calculate the reserve. The reserve for off-balance-sheet credit exposure is carried on the balance sheet in other liabilities rather than as a component of the allowance. The reserve for off-balance-sheet credit exposure is adjusted as a provision for off-balance-sheet credit exposure reported as a component of non-interest expense in the accompanying unaudited Consolidated Statement of Income.

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2020
Acquisitions
Acquisitions	Note 2: Acquisitions ​ The Banc Ed Corp. ​ On January 31, 2019, the Company completed its acquisition of The Banc Ed Corp. (“Banc Ed”). TheBANK of Edwardsville (“TheBANK”), Banc Ed’s wholly-owned bank subsidiary, was operated as a separate subsidiary from the completion of the acquisition until October 4, 2019 when it was merged with and into Busey Bank. At that time, TheBANK’s banking centers became banking centers of Busey Bank. ​ Under the terms of the merger agreement with Banc Ed, at the effective time of the acquisition, each share of Banc Ed common stock issued and outstanding was converted into the right to receive 8.2067 shares of the Company’s common stock, cash in lieu of fractional shares and $111.53 in cash consideration per share. The market value of the 6.7 million shares of First Busey common stock issued at the effective time of the acquisition was approximately $166.5 million based on First Busey’s closing stock price of $24.76 on January 31, 2019. ​ This transaction was accounted for using the acquisition method of accounting and, accordingly, assets acquired, liabilities assumed, and consideration exchanged was recorded at estimated fair values on the date of acquisition. As the total consideration paid for Banc Ed exceeded the net assets acquired, goodwill of $41.4 million was recorded as a result of the acquisition. Goodwill recorded in the transaction, which reflected the synergies expected from the acquisition and expansion within the St. Louis MSA, is not tax deductible and was assigned to the Banking operating segment. ​ First Busey did not incur any expenses related to the acquisition of Banc Ed for the three or six months ended June 30, 2020. First Busey incurred $4.0 million and $5.0 million in pre-tax expenses related to the acquisition of Banc Ed for the three and six months ended June 30, 2019, respectively, primarily for professional and legal fees and deconversion fees, all of which are reported as a component of non-interest expense in the accompanying unaudited Consolidated Statement of Income. The following table presents the estimated fair value of Banc Ed’s assets acquired and liabilities assumed as of January 31, 2019 (dollars in thousands) : ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Assets acquired: ​ ​ Cash and cash equivalents ​ $ 42,013 Securities ​ 692,716 Loans held for sale ​ 2,157 Portfolio loans ​ 873,336 Premises and equipment ​ 32,156 Other intangible assets ​ ​ 32,617 Mortgage servicing rights ​ 6,946 Other assets ​ 57,332 Total assets acquired ​ 1,739,273 ​ ​ ​ ​ Liabilities assumed: ​ ​ ​ Deposits ​ 1,439,203 Other borrowings ​ 63,439 Other liabilities ​ 20,153 Total liabilities assumed ​ 1,522,795 ​ ​ ​ ​ Net assets acquired ​ $ 216,478 ​ ​ ​ ​ Consideration paid: ​ ​ ​ Cash ​ $ 91,400 Common stock ​ 166,515 Total consideration paid ​ $ 257,915 ​ ​ ​ ​ Goodwill ​ $ 41,437 ​ The following table provides the unaudited pro forma information for the results of operations for the three and six months ended June 30, 2019, as if the acquisition had occurred January 1, 2019. The pro forma results combine the historical results of Banc Ed into the Company’s unaudited Consolidated Statements of Income, including the impact of purchase accounting adjustments including loan discount accretion, intangible assets amortization, deposit accretion and premises 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, 2019. No assumptions have been applied to the pro forma results of operations regarding possible revenue enhancements, expense efficiencies or asset dispositions ( dollars in thousands, except per share amounts) : ​ ​ ​ ​ ​ ​ ​ ​ ​ Pro Forma ​ Three Months Ended ​ Six Months Ended ​ ​ June 30, 2019 ​ June 30, 2019 Total revenues (net interest income plus non-interest income) $ 101,324 ​ $ 201,976 Net income 26,947 ​ ​ 54,337 Diluted earnings per common share 0.48 ​ ​ 0.97 ​ ​ ​ ​ Investors’ Security Trust Company ​ On August 31, 2019, the Company completed the previously announced acquisition by Busey Bank of Investors’ Security Trust Company (“IST”), a Fort Myers, Florida wealth management firm. While the partnership is expected to add to the Company’s wealth management offerings, it is not expected to have any immediate, material impact on the Company’s earnings or overall business. This transaction was accounted for using the acquisition method of accounting and, accordingly, assets acquired, liabilities assumed, and consideration exchanged was recorded at estimated fair values on the date of acquisition. ​ First Busey incurred $0.1 million and $0.3 million in pre-tax expenses related to the acquisition of IST for the three and six months ended June 30, 2020, which is reported as a component of non-interest expense in the accompanying unaudited Consolidated Statements of Income. First Busey incurred $0.1 million and $0.3 million in pre-tax expenses related to the acquisition of IST for the three and six months ended June 30, 2019, primarily for professional and legal fees, which are reported as a component of non-interest expense in the accompanying unaudited Consolidated Statements of Income.

Securities

Securities	6 Months Ended
	Jun. 30, 2020
Securities
Securities	Note 3: Securities ​ The table below provides the amortized cost, unrealized gains and losses and fair values of debt securities summarized by major category (dollars in thousands) : ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Gross ​ ​ Allowance ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ ​ for Credit ​ Fair June 30, 2020: Cost Gains Losses ​ ​ Losses ​ Value Debt securities available for sale ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury securities ​ $ 32,597 ​ $ 639 ​ $ — ​ $ — ​ $ 33,236 Obligations of U.S. government corporations and agencies ​ 77,349 ​ 2,752 ​ (57) ​ ​ — ​ 80,044 Obligations of states and political subdivisions ​ 272,885 ​ 10,047 ​ (38) ​ ​ — ​ 282,894 Commercial mortgage-backed securities ​ ​ 230,352 ​ ​ 10,956 ​ ​ (3) ​ ​ — ​ ​ 241,305 Residential mortgage-backed securities ​ 940,842 ​ 29,475 ​ (124) ​ ​ — ​ 970,193 Corporate debt securities ​ 87,404 ​ 1,826 ​ (36) ​ ​ — ​ 89,194 Total ​ $ 1,641,429 ​ $ 55,695 ​ $ (258) ​ $ — ​ $ 1,696,866 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Gross ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair December 31, 2019: Cost Gains Losses Value Debt securities available for sale ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury securities ​ $ 51,472 ​ $ 265 ​ $ — ​ $ 51,737 Obligations of U.S. government corporations and agencies ​ 160,364 ​ 2,684 ​ (48) ​ 163,000 Obligations of states and political subdivisions ​ 262,492 ​ 5,810 ​ (11) ​ 268,291 Commercial mortgage-backed securities ​ ​ 137,733 ​ ​ 1,700 ​ ​ (146) ​ ​ 139,287 Residential mortgage-backed securities ​ 912,308 ​ 10,282 ​ (624) ​ 921,966 Corporate debt securities ​ 102,696 ​ 1,280 ​ — ​ 103,976 Total ​ $ 1,627,065 ​ $ 22,021 ​ $ (829) ​ $ 1,648,257 ​ ​ The amortized cost and fair value of debt securities, by contractual maturity or pre-refunded date, are shown below. 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 (dollars in thousands) . ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Debt securities available for sale ​ Amortized Fair June 30, 2020: Cost Value Due in one year or less ​ $ 132,192 ​ $ 133,749 Due after one year through five years ​ 241,337 ​ 250,413 Due after five years through ten years ​ 241,496 ​ 252,566 Due after ten years ​ 1,026,404 ​ 1,060,138 Total ​ $ 1,641,429 ​ $ 1,696,866 ​ Realized gains and losses related to sales and calls of debt securities available for sale are summarized as follows (dollars in thousands) : ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, Six Months Ended June 30, ​ 2020 2019 2020 2019 Gross security gains ​ $ 146 ​ $ 391 $ 1,707 ​ $ 391 Gross security (losses) ​ ​ (3) ​ (400) ​ (8) ​ (583) Net gains (losses) on sales of securities (1) ​ $ 143 ​ $ (9) $ 1,699 ​ $ (192) (1) Net (losses) gains on sales of securities reported on the unaudited Consolidated Statements of Income includes sale of equity securities, excluded in this table. ​ Debt securities with carrying amounts of $638.1 million and $704.4 million on June 30, 2020 and December 31, 2019, respectively, were pledged as collateral for public deposits, securities sold under agreements to repurchase and for other purposes as required or permitted by law. ​ The following information pertains to debt securities with gross unrealized losses, aggregated by investment category and the length of time that individual securities have been in a continuous loss position (dollars in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less than 12 months, gross ​ 12 months or more, gross ​ Total, gross ​ Fair Unrealized Fair Unrealized Fair Unrealized June 30, 2020: Value Losses Value Losses Value Losses Debt securities available for sale ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury securities $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Obligations of U.S. government corporations and agencies ​ 5,648 ​ ​ (57) ​ ​ — ​ ​ — ​ ​ 5,648 ​ ​ (57) Obligations of states and political subdivisions ​ 6,432 ​ ​ (38) ​ ​ — ​ ​ — ​ ​ 6,432 ​ ​ (38) Commercial mortgage-backed securities ​ 4,963 ​ ​ (3) ​ ​ — ​ ​ — ​ ​ 4,963 ​ ​ (3) Residential mortgage-backed securities 35,830 ​ (120) ​ 937 ​ (4) ​ 36,767 ​ (124) Corporate debt securities 4,222 ​ (36) ​ — ​ — ​ 4,222 ​ (36) Total temporarily impaired securities $ 57,095 ​ $ (254) ​ $ 937 ​ $ (4) ​ $ 58,032 ​ $ (258) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less than 12 months, gross ​ 12 months or more, gross ​ Total, gross ​ Fair Unrealized Fair Unrealized Fair Unrealized December 31, 2019: Value Losses Value Losses Value Losses Debt securities available for sale ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury securities $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Obligations of U.S. government corporations and agencies ​ 6,362 ​ ​ (48) ​ ​ — ​ ​ — ​ ​ 6,362 ​ ​ (48) Obligations of states and political subdivisions (1) ​ 4,981 ​ ​ (11) ​ ​ 1,548 ​ ​ — ​ ​ 6,529 ​ ​ (11) Commercial mortgage-backed securities ​ 33,322 ​ ​ (144) ​ ​ 2,044 ​ ​ (2) ​ ​ 35,366 ​ ​ (146) Residential mortgage-backed securities 78,326 ​ (245) ​ 50,259 ​ (379) ​ 128,585 ​ (624) Corporate debt securities — ​ — ​ — ​ — ​ — ​ — Total temporarily impaired securities $ 122,991 ​ $ (448) ​ $ 53,851 ​ $ (381) ​ $ 176,842 ​ $ (829) (1) Unrealized losses for 12 months or more, gross, was less than one thousand dollars. ​ Debt securities available for sale are not within the scope of CECL, however, the accounting for credit losses on these securities is affected by ASC 326-30. As of June 30, 2020, the Company’s debt security portfolio consisted of 1,106 securities. The total number of debt securities in the investment portfolio in an unrealized loss position as of June 30, 2020 was 24 and represented an unrealized loss of 0.45% of the aggregate fair value. The unrealized losses relate to changes in market interest rates and market conditions that do not represent credit-related impairments. Furthermore, 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 debt securities. Full collection of the amounts due according to the contractual terms of the debt securities is expected; therefore, the impairment related to noncredit factors is recognized in accumulated other comprehensive income, net of applicable taxes, at June 30, 2020. As of June 30, 2020, the Company did not hold general obligation bonds of any single issuer, the aggregate of which exceeded 10% of the Company’s stockholders’ equity.

Portfolio loans

Portfolio loans	6 Months Ended
	Jun. 30, 2020
Portfolio loans
Portfolio loans	Note 4: Portfolio loans ​ The distribution of portfolio loans is as follows (dollars in thousands) : ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2020 ​ December 31, 2019 Commercial ​ $ 2,357,954 ​ $ 1,748,368 Commercial real estate ​ ​ 2,847,014 ​ ​ 2,793,417 Real estate construction ​ ​ 433,031 ​ ​ 401,861 Retail real estate ​ ​ 1,548,215 ​ ​ 1,693,769 Retail other ​ ​ 42,806 ​ ​ 49,834 Portfolio loans ​ $ 7,229,020 ​ $ 6,687,249 ​ ​ ​ ​ ​ ​ ​ Allowance ​ ​ (96,046) ​ ​ (53,748) Portfolio loans, net ​ $ 7,132,974 ​ $ 6,633,501 ​ Net deferred loan origination fees included in the balances above were $(11.1) million as of June 30, 2020 compared to $6.2 million of net deferred loan origination costs as of December 31, 2019. Net accretable purchase accounting adjustments included in the balances above reduced loans by $15.5 million as of June 30, 2020 and $20.2 million as of December 31, 2019. The June 30, 2020 commercial balance includes loans originated under PPP with an amortized cost of $729.3 million. ​ During the first quarter of 2020, the Company purchased $43.9 million of retail real estate loans. There were no purchases during the second quarter of 2020. ​ 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 acceptable credits, ranging from investment or near investment grade, to loans made to borrowers who exhibit credit fundamentals that meet or exceed industry standards. ​ ● Watch- This category includes loans that warrant a higher than average level of monitoring to ensure that weaknesses do not cause the inability of the credit to perform as expected. These loans are not necessarily a problem due to other inherent strengths of the credit, such as guarantor strength, but have above average concern and monitoring. ​ ● Special mention- This category is for “Other Assets Specially Mentioned” loans that have potential weaknesses, which may, if not checked or corrected, weaken the asset or inadequately protect 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. ​ ● Substandard Non-accrual- This category includes loans that have all the characteristics of a “Substandard” loan with additional factors that make collection in full highly questionable and improbable. Such loans are placed on non-accrual status and may be dependent on collateral with a value that is difficult to determine. ​ All loans are graded at their inception. Most commercial lending relationships that are $1.0 million or less are processed through an expedited underwriting process. Most commercial loans greater than $1.0 million are included in a portfolio review at least annually. Commercial loans greater than $0.35 million that have a grading of special mention or worse are reviewed on a quarterly basis. Interim reviews may take place if circumstances of the borrower warrant a more timely review. ​ The following table is a summary of risk grades segregated by category of portfolio loans. June 30, 2020 includes purchase discounts and clearings in the pass rating. December 31, 2019 excludes purchase discounts and clearings. (dollars in thousands) : ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2020 ​ ​ ​ Special ​ Substandard ​ Pass Watch Mention Substandard Non-accrual Commercial $ 2,078,284 ​ $ 136,817 ​ $ 94,439 ​ $ 41,978 ​ $ 6,436 Commercial real estate 2,476,189 ​ 233,826 ​ 93,676 ​ 34,314 ​ 9,009 Real estate construction 405,327 ​ 23,907 ​ 685 ​ 2,832 ​ 280 Retail real estate 1,518,644 ​ 12,124 ​ 3,617 ​ 4,613 ​ 9,217 Retail other 42,653 ​ — ​ — ​ — ​ 153 Total ​ $ 6,521,097 ​ $ 406,674 ​ $ 192,417 ​ $ 83,737 ​ $ 25,095 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ ​ ​ Special ​ Substandard ​ Pass Watch Mention Substandard Non-accrual Commercial $ 1,458,416 ​ $ 172,526 ​ $ 66,337 ​ $ 41,273 ​ $ 9,096 Commercial real estate 2,477,398 ​ 186,963 ​ 105,487 ​ 26,204 ​ 9,178 Real estate construction 351,923 ​ 45,262 ​ 3,928 ​ 737 ​ 630 Retail real estate 1,661,691 ​ 9,125 ​ 5,355 ​ 7,001 ​ 8,935 Retail other 47,698 ​ — ​ — ​ — ​ 57 Total ​ $ 5,997,126 ​ $ 413,876 ​ $ 181,107 ​ $ 75,215 ​ $ 27,896 ​ Risk grades of portfolio loans, further sorted by origination or renewal year at June 30, 2020 is as follows (dollars in thousand) : ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Term Loans Amortized Cost Basis by Origination or Renewal Year ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revolving ​ ​ ​ As of June 30, 2020 2020 2019 2018 2017 2016 ​ ​ Prior ​ ​ loans ​ ​ Total Commercial: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 931,544 ​ $ 193,072 ​ $ 139,275 ​ $ 129,906 ​ $ 79,484 ​ $ 94,852 ​ $ 510,151 ​ $ 2,078,284 Watch ​ ​ 23,426 ​ ​ 22,915 ​ ​ 20,322 ​ ​ 8,145 ​ ​ 3,017 ​ ​ 15,488 ​ ​ 43,504 ​ ​ 136,817 Special Mention ​ ​ 5,947 ​ ​ 5,442 ​ ​ 3,226 ​ ​ 7,039 ​ ​ 6,930 ​ ​ 15,579 ​ ​ 50,276 ​ ​ 94,439 Substandard ​ ​ 11,291 ​ ​ 3,222 ​ ​ 4,258 ​ ​ 5,588 ​ ​ 1,286 ​ ​ 1,372 ​ ​ 14,961 ​ ​ 41,978 Substandard non-accrual ​ ​ 29 ​ ​ 3,659 ​ ​ 713 ​ ​ 541 ​ ​ 804 ​ ​ 690 ​ ​ — ​ ​ 6,436 Total commercial ​ $ 972,237 ​ $ 228,310 ​ $ 167,794 ​ $ 151,219 ​ $ 91,521 ​ $ 127,981 ​ $ 618,892 ​ $ 2,357,954 Commercial real estate: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 315,356 ​ $ 577,080 ​ $ 473,528 ​ $ 496,679 ​ $ 226,747 ​ $ 357,509 ​ $ 29,290 ​ $ 2,476,189 Watch ​ ​ 40,462 ​ ​ 69,029 ​ ​ 44,938 ​ ​ 28,018 ​ ​ 27,333 ​ ​ 23,329 ​ ​ 717 ​ ​ 233,826 Special Mention ​ ​ 12,212 ​ ​ 16,494 ​ ​ 17,895 ​ ​ 14,233 ​ ​ 6,800 ​ ​ 24,553 ​ ​ 1,489 ​ ​ 93,676 Substandard ​ ​ 17,409 ​ ​ 5,862 ​ ​ 3,216 ​ ​ 5,635 ​ ​ 1,863 ​ ​ 329 ​ ​ — ​ ​ 34,314 Substandard non-accrual ​ ​ 300 ​ ​ 1,337 ​ ​ 3,752 ​ ​ 1,496 ​ ​ 391 ​ ​ 1,733 ​ ​ — ​ ​ 9,009 Total commercial real estate ​ $ 385,739 ​ $ 669,802 ​ $ 543,329 ​ $ 546,061 ​ $ 263,134 ​ $ 407,453 ​ $ 31,496 ​ $ 2,847,014 Real estate construction: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 61,660 ​ $ 200,254 ​ $ 122,501 ​ $ 1,535 ​ $ 407 ​ $ 1,299 ​ $ 17,671 ​ $ 405,327 Watch ​ ​ 9,071 ​ ​ 10,092 ​ ​ 2,411 ​ ​ 2,128 ​ ​ 205 ​ ​ ​ ​ ​ ​ ​ ​ 23,907 Special Mention ​ ​ 673 ​ ​ 12 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 685 Substandard ​ ​ 2,600 ​ ​ — ​ ​ 48 ​ ​ 34 ​ ​ 150 ​ ​ — ​ ​ — ​ ​ 2,832 Substandard non-accrual ​ ​ — ​ ​ — ​ ​ 275 ​ ​ — ​ ​ — ​ ​ 5 ​ ​ — ​ ​ 280 Total real estate construction ​ $ 74,004 ​ $ 210,358 ​ $ 125,235 ​ $ 3,697 ​ $ 762 ​ $ 1,304 ​ $ 17,671 ​ $ 433,031 Retail real estate: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 232,130 ​ $ 186,986 ​ $ 172,855 ​ $ 176,644 ​ $ 167,885 ​ $ 340,407 ​ $ 241,737 ​ $ 1,518,644 Watch ​ ​ 1,102 ​ ​ 2,221 ​ ​ 1,943 ​ ​ 333 ​ ​ 986 ​ ​ 722 ​ ​ 4,817 ​ ​ 12,124 Special Mention ​ ​ 526 ​ ​ — ​ ​ 174 ​ ​ — ​ ​ 1,988 ​ ​ 929 ​ ​ — ​ ​ 3,617 Substandard ​ ​ 1,487 ​ ​ 214 ​ ​ 333 ​ ​ 160 ​ ​ 751 ​ ​ 1,216 ​ ​ 452 ​ ​ 4,613 Substandard non-accrual ​ ​ 280 ​ ​ 175 ​ ​ 793 ​ ​ 732 ​ ​ 248 ​ ​ 5,437 ​ ​ 1,552 ​ ​ 9,217 Total retail real estate ​ $ 235,525 ​ $ 189,596 ​ $ 176,098 ​ $ 177,869 ​ $ 171,858 ​ $ 348,711 ​ $ 248,558 ​ $ 1,548,215 Retail other: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 6,101 ​ $ 12,360 ​ $ 8,099 ​ $ 4,079 ​ $ 1,253 ​ $ 1,084 ​ $ 9,677 ​ $ 42,653 Watch ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Special Mention ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Substandard ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Substandard non-accrual ​ ​ 63 ​ ​ 7 ​ ​ — ​ ​ 2 ​ ​ 17 ​ ​ 63 ​ ​ 1 ​ ​ 153 Total retail other ​ $ 6,164 ​ $ 12,367 ​ $ 8,099 ​ $ 4,081 ​ $ 1,270 ​ $ 1,147 ​ $ 9,678 ​ $ 42,806 ​ An analysis of the amortized cost basis of portfolio loans that are past due and still accruing or on a non-accrual status is as follows (dollars in thousands) : ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2020 ​ ​ Loans past due, still accruing ​ Non-accrual ​ 30-59 Days 60-89 Days 90+Days Loans Commercial ​ $ 41 ​ $ 35 ​ $ — ​ $ 6,436 Commercial real estate ​ ​ 117 ​ ​ 242 ​ ​ — ​ ​ 9,009 Real estate construction ​ — ​ — ​ — ​ 280 Retail real estate ​ ​ 3,681 ​ ​ 943 ​ ​ 271 ​ ​ 9,217 Retail other ​ 71 ​ 36 ​ 14 ​ 153 Total ​ $ 3,910 ​ $ 1,256 ​ $ 285 ​ $ 25,095 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ ​ Loans past due, still accruing ​ Non-accrual ​ 30-59 Days 60-89 Days 90+Days Loans Commercial ​ $ 1,075 ​ $ 1,014 ​ $ 199 ​ $ 9,096 Commercial real estate ​ 2,653 ​ 3,121 ​ 584 ​ 9,178 Real estate construction ​ 19 ​ — ​ — ​ 630 Retail real estate ​ 5,021 ​ 1,248 ​ 828 ​ ​ 8,935 Retail other ​ 52 ​ 68 ​ — ​ 57 Total ​ $ 8,820 ​ $ 5,451 ​ $ 1,611 ​ $ 27,896 ​ The gross interest income that would have been recorded in the three months ended June 30, 2020 and 2019 if non-accrual loans and 90+ days past due loans had been current in accordance with their original terms was $0.4 million. The gross interest income that would have been recorded in the six months ended June 30, 2020 and 2019 if non-accrual loans and 90+ days past due loans had been current in accordance with their original terms was $0.9 million and $1.1 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 six months ended June 30, 2020 and 2019. ​ A summary of troubled debt restructurings (“TDR”) loans is as follows (dollars in thousands) : ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ ​ December 31, ​ ​ 2020 2019 In compliance with modified terms ​ $ 4,191 ​ $ 5,005 30 — 89 days past due ​ 125 ​ — Included in non-performing loans ​ 1,662 ​ 702 Total ​ $ 5,978 ​ $ 5,707 ​ Loans newly classified as a TDR in compliance with modified terms during the three and six months ended June 30, 2020, included one retail real estate loan for payment modification with a recorded investment of $0.2 million. Loans newly classified as a TDR in compliance with modified terms during the three and six months ended June 30, 2019, included one commercial loan for payment modification with a recorded investment of $0.6 million. ​ The gross interest income that would have been recorded in the three and six months ended June 30, 2020 and 2019 if TDRs had performed in accordance with their original terms compared with their modified terms was insignificant. ​ There were no TDRs that were entered into during the last 12 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 and six months ended June 30, 2020. One commercial real estate TDR, with a recorded investment of $3.2 million, that was entered into during the prior 12 months, was subsequently classified as non-performing and had payment defaults during the three and six months ended June 30, 2019. ​ Modified loans with payment deferrals that fall under the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”) or revised Interagency Statement on Loan Modifications and Reporting for Financial Institutions that suspended requirements under GAAP related to TDRs are not included in the Company’s TDR totals. ​ At June 30, 2020, the Company had $1.3 million of residential real estate in the process of foreclosure. The following tables provide details of loans evaluated individually, segregated by category. With the adoption of CECL, the Company only evaluated loans with disparate risk characteristics on an individual basis. The unpaid contractual principal balance represents the customer outstanding balance excluding any partial charge-offs. The amortized cost represents customer balances net of any partial charge-offs recognized on the loan. The average amortized cost is calculated using the most recent four quarters (dollars in thousands) . ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2020 ​ Unpaid Amortized ​ ​ ​ ​ ​ ​ Contractual ​ Cost ​ Amortized ​ Total ​ ​ ​ ​ Average ​ ​ Principal ​ with No ​ Cost ​ Amortized ​ Related ​ Amortized ​ Balance Allowance with Allowance Cost Allowance Cost Commercial ​ $ 11,739 ​ $ 3,186 ​ $ 3,077 ​ $ 6,263 ​ $ 1,248 ​ $ 9,467 Commercial real estate ​ 10,847 ​ ​ 9,105 ​ ​ 1,000 ​ 10,105 ​ 486 ​ 13,583 Real estate construction ​ 576 ​ 559 ​ — ​ 559 ​ — ​ 836 Retail real estate ​ 5,371 ​ 4,705 ​ 474 ​ 5,179 ​ 474 ​ 10,817 Retail other ​ — ​ — ​ — ​ — ​ — ​ 30 Total ​ $ 28,533 ​ $ 17,555 ​ $ 4,551 ​ $ 22,106 ​ $ 2,208 ​ $ 34,733 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ Unpaid Amortized ​ ​ ​ ​ ​ ​ Contractual ​ Cost ​ Amortized ​ Total ​ ​ ​ ​ Average ​ ​ Principal ​ with No ​ Cost ​ Amortized ​ Related ​ Amortized ​ Balance Allowance with Allowance Cost Allowance Cost Commercial ​ $ 14,415 ​ $ 4,727 ​ $ 5,026 ​ $ 9,753 ​ $ 3,330 ​ $ 13,774 Commercial real estate ​ 14,487 ​ ​ 9,883 ​ ​ 2,039 ​ 11,922 ​ 1,049 ​ 16,678 Real estate construction ​ 1,116 ​ 974 ​ — ​ 974 ​ — ​ 873 Retail real estate ​ 15,581 ​ 13,898 ​ 474 ​ 14,372 ​ 474 ​ 14,003 Retail other ​ 87 ​ 58 ​ — ​ 58 ​ — ​ 42 Total ​ $ 45,686 ​ $ 29,540 ​ $ 7,539 ​ $ 37,079 ​ $ 4,853 ​ $ 45,370 ​ Management's evaluation as to the ultimate collectability of loans includes estimates regarding future cash flows from operations and the value of property, real and personal, pledged as collateral. These estimates are affected by changing economic conditions and the economic prospects of borrowers. Collateral dependent loans are loans in which repayment is expected to be provided solely by the underlying collateral and there are no other available and reliable sources of repayment. They are written down to the lower of cost or fair value of underlying collateral, less estimated costs to sell. As of June 30, 2020, there were $17.3 million of collateral dependent loans which are secured by real estate or business assets. ​ Management estimates the allowance balance using relevant available information from internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. Historical credit loss experience provides the basis for the estimation of expected credit losses. The cumulative loss rate used as the basis for the estimate of credit losses is comprised of the Company’s historical loss experience beginning in 2010. As of June 30, 2020, the Company expects the markets in which it operates to experience a decline in economic conditions and an increase in the unemployment rate and level of delinquencies over the next 12 months. Management adjusted the historical loss experience for these expectations with an immediate reversion to historical loss rate beyond this forecast period. PPP loans were excluded from the allowance calculation as they are 100% government guaranteed. The following table details activity in the allowance. Allocation of a portion of the allowance to one category does not preclude its availability to absorb losses in other categories (dollars in thousands) : ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of and for the Three Months Ended June 30, 2020 ​ ​ Commercial Real Estate Retail Real ​ ​ ​ Commercial Real Estate Construction Estate Retail Other Total Beginning balance ​ $ 22,725 ​ $ 35,967 ​ $ 7,193 ​ $ 17,454 ​ $ 1,045 ​ $ 84,384 Provision for credit losses ​ 2,473 ​ 6,861 ​ 574 ​ 2,981 ​ 2 ​ 12,891 Charged-off ​ (1,140) ​ (165) ​ — ​ ​ (292) ​ (105) ​ (1,702) Recoveries ​ 88 ​ 17 ​ 25 ​ 262 ​ 81 ​ 473 Ending balance ​ $ 24,146 ​ $ 42,680 ​ $ 7,792 ​ $ 20,405 ​ $ 1,023 ​ $ 96,046 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of and for the Six Months Ended June 30, 2020 ​ ​ Commercial Real Estate Retail Real ​ ​ ​ Commercial Real Estate Construction Estate Retail Other Total Beginning balance, prior to adoption of ASC 326 ​ $ 18,291 ​ $ 21,190 ​ $ 3,204 ​ $ 10,495 ​ $ 568 ​ $ 53,748 Adoption of ASC 326 ​ ​ 715 ​ ​ 9,306 ​ ​ 2,954 ​ ​ 3,292 ​ ​ 566 ​ ​ 16,833 Provision for credit losses ​ 8,146 ​ 13,387 ​ 1,463 ​ 7,018 ​ 93 ​ 30,107 Charged-off ​ (3,182) ​ (1,264) ​ — ​ ​ (1,000) ​ (404) ​ (5,850) Recoveries ​ 176 ​ 61 ​ 171 ​ 600 ​ 200 ​ 1,208 Ending balance ​ $ 24,146 ​ $ 42,680 ​ $ 7,792 ​ $ 20,405 ​ $ 1,023 ​ $ 96,046 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of and for the Three Months Ended June 30, 2019 ​ ​ Commercial Real Estate Retail Real ​ ​ ​ Commercial Real Estate Construction Estate Retail Other Total Beginning balance ​ $ 17,998 ​ $ 20,097 ​ $ 2,807 ​ $ 9,503 ​ $ 510 ​ $ 50,915 Provision for loan losses ​ 1,161 ​ (97) ​ 411 ​ 941 ​ 101 ​ 2,517 Charged-off ​ (2,563) ​ — ​ — ​ ​ (200) ​ (178) ​ (2,941) Recoveries ​ 137 ​ 188 ​ 87 ​ 369 ​ 103 ​ 884 Ending balance ​ $ 16,733 ​ $ 20,188 ​ $ 3,305 ​ $ 10,613 ​ $ 536 ​ $ 51,375 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of and for the Six Months Ended June 30, 2019 ​ ​ ​ Commercial Real Estate Retail Real ​ ​ ​ ​ Commercial Real Estate Construction Estate Retail Other Total Beginning balance ​ $ 17,829 ​ $ 21,137 ​ $ 2,723 ​ $ 8,471 ​ $ 488 ​ $ 50,648 Provision for loan losses ​ 2,954 ​ (1,186) ​ 413 ​ 2,298 ​ 149 ​ 4,628 Charged-off ​ (4,370) ​ (15) ​ — ​ ​ (717) ​ (308) ​ (5,410) Recoveries ​ 320 ​ 252 ​ 169 ​ 561 ​ 207 ​ 1,509 Ending balance ​ $ 16,733 ​ $ 20,188 ​ $ 3,305 ​ $ 10,613 ​ $ 536 ​ $ 51,375 ​ The following table presents the allowance and amortized cost of portfolio loans by category (dollars in thousands) : ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of June 30, 2020 ​ ​ ​ Commercial Real Estate Retail Real ​ ​ ​ ​ ​ Commercial Real Estate Construction Estate Retail Other Total Allowance ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ending balance attributed to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans individually evaluated for impairment ​ $ 1,248 ​ $ 486 ​ $ — ​ $ 474 ​ $ — ​ $ 2,208 Loans collectively evaluated for impairment ​ 22,898 ​ 42,194 ​ 7,792 ​ 19,931 ​ 1,023 ​ 93,838 Ending balance ​ $ 24,146 ​ $ 42,680 ​ $ 7,792 ​ $ 20,405 ​ $ 1,023 ​ $ 96,046 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans individually evaluated for impairment ​ $ 6,263 ​ $ 10,105 ​ $ 559 ​ $ 5,179 ​ $ — ​ $ 22,106 Loans collectively evaluated for impairment ​ 2,351,687 ​ 2,834,987 ​ ​ 432,217 ​ 1,542,624 ​ 42,806 ​ 7,204,321 PCD loans evaluated for impairment ​ ​ 4 ​ ​ 1,922 ​ ​ 255 ​ ​ 412 ​ ​ — ​ ​ 2,593 Ending balance ​ $ 2,357,954 ​ $ 2,847,014 ​ $ 433,031 ​ $ 1,548,215 ​ $ 42,806 ​ $ 7,229,020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2019 ​ ​ ​ Commercial Real Estate Retail Real ​ ​ ​ ​ ​ Commercial Real Estate Construction Estate Retail Other Total Allowance ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ending balance attributed to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans individually evaluated for impairment ​ $ 3,330 ​ $ 1,049 ​ $ — ​ $ 474 ​ $ — ​ $ 4,853 Loans collectively evaluated for impairment ​ 14,961 ​ 20,141 ​ 3,204 ​ 10,021 ​ 568 ​ 48,895 Ending balance ​ $ 18,291 ​ $ 21,190 ​ $ 3,204 ​ $ 10,495 ​ $ 568 ​ $ 53,748 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans individually evaluated for impairment ​ $ 9,740 ​ $ 10,018 ​ $ 539 ​ $ 13,676 ​ $ 58 ​ $ 34,031 Loans collectively evaluated for impairment ​ 1,738,615 ​ 2,781,495 ​ ​ 400,887 ​ 1,679,397 ​ 49,776 ​ 6,650,170 PCI loans evaluated for impairment ​ ​ 13 ​ ​ 1,904 ​ ​ 435 ​ ​ 696 ​ ​ — ​ ​ 3,048 Ending balance ​ $ 1,748,368 ​ $ 2,793,417 ​ $ 401,861 ​ $ 1,693,769 ​ $ 49,834 ​ $ 6,687,249 ​

Deposits

Deposits	6 Months Ended
	Jun. 30, 2020
Deposits
Deposits	Note 5: Deposits ​ The composition of deposits is as follows (dollars in thousands) : ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2020 ​ December 31, 2019 Demand deposits, noninterest-bearing ​ $ 2,764,408 ​ $ 1,832,619 Interest-bearing transaction deposits ​ 2,226,488 ​ 1,989,854 Saving deposits and money market deposits ​ 2,555,273 ​ ​ 2,545,073 Time deposits ​ 1,363,497 ​ 1,534,850 Total ​ $ 8,909,666 ​ $ 7,902,396 ​ The Company held brokered saving deposits and money market deposits of $31.3 million and $12.5 million at June 30, 2020 and December 31, 2019, respectively. ​ The aggregate amount of time deposits with a minimum denomination of $100,000 was approximately $745.1 million and $854.1 million at June 30, 2020 and December 31, 2019, respectively. The aggregate amount of time deposits with a minimum denomination that meets or exceeds the Federal Deposit Insurance Corporation (“FDIC”) insurance limit of $250,000 was approximately $282.9 million and $297.4 million at June 30, 2020 and December 31, 2019, respectively. The Company held brokered time deposits of $5.3 million and $5.5 million at June 30, 2020 and December 31, 2019, respectively. ​ As of June 30, 2020, the scheduled maturities of time deposits are as follows (dollars in thousands) : ​ ​ ​ ​ ​ July 1, 2020 - June 31, 2021 ​ $ 893,481 July 1, 2021 - June 31, 2022 ​ ​ 291,959 July 1, 2022 - June 31, 2023 ​ 80,966 July 1, 2023 - June 31, 2024 ​ 75,481 July 1, 2024 - June 31, 2025 ​ 21,596 Thereafter ​ 14 ​ $ 1,363,497 ​

Borrowings

Borrowings	6 Months Ended
	Jun. 30, 2020
Borrowings
Borrowings	Note 6: Borrowings ​ Securities sold under agreements to repurchase, which are classified as secured borrowings, generally mature daily. Securities sold under agreements to repurchase are reflected at the amount of cash received in connection with the transaction. The underlying securities are held by 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 $4.6 million of FHLB advances which mature in less than one year from date of origination. ​ On January 29, 2019, the Company entered into an Amended and Restated Credit Agreement providing for a $60.0 million term loan (the “Term Loan”) with a maturity date of November 30, 2023. The Term Loan had an annual interest rate of one-month LIBOR plus a spread of 1.50% . The proceeds of the Term Loan were used to fund the cash consideration related to the acquisition of Banc Ed. The Company, at its option, repaid the balance of the Term Loan during the first quarter of 2020. ​ The Amended and Restated Credit Agreement also retained the Company’s $20.0 million revolving facility with a maturity date of April 30, 2019. On April 19, 2019, the Company entered into an amendment to the Amended and Restated Credit Agreement to extend the maturity of its revolving loan facility to April 30, 2020. On April 24, 2020, the revolving loan facility maturity was extended one year to April 30, 2021 with an annual interest rate of one-month LIBOR plus a spread of 1.75% . The revolving facility incurs a non-usage fee based on the undrawn amount. At June 30, 2020 the Company had $20.0 million outstanding and recorded in short-term borrowings under the revolving facility. The Company had no outstanding balance under the revolving facility on December 31, 2019. ​ Long-term debt is summarized as follows (dollars in thousands) : ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2020 2019 Notes payable, FHLB, ranging in original maturity from 5 to 10 years , collateralized by FHLB deposits, residential and commercial real estate loans and FHLB stock. ​ $ 35,101 ​ $ 35,600 Term Loan ​ ​ — ​ ​ 48,000 Total long-term borrowings ​ $ 35,101 ​ $ 83,600 ​ As of June 30, 2020, long-term debt from the FHLB consisted of variable-rate notes maturing through September 2024, with interest rates ranging from 0.05% to 3.04% . The weighted average rate on the long-term advances was 0.48% as of June 30, 2020. As of December 31, 2019, funds borrowed from the FHLB, listed above, consisted of variable-rate notes maturing through September 2024, with interest rates ranging from 1.25% to 3.04% . The weighted average rate on the long-term advances was 1.53% as of December 31, 2019. ​ On May 25, 2017, the Company issued $40.0 million of 3.75% senior notes that mature on May 25, 2022. The senior notes are payable semi-annually on each May 25 and November 25, commencing on November 25, 2017. The senior notes are not subject to optional redemption by the Company. Additionally, on May 25, 2017, the Company issued $60.0 million of fixed-to-floating rate subordinated notes that mature on May 25, 2027. The subordinated notes, which qualify as Tier 2 capital for First Busey, bear interest at an annual rate of 4.75% for the first five years after issuance and thereafter bear interest at a floating rate equal to three-month LIBOR plus a spread of 2.919% , as calculated on each applicable determination date. The subordinated notes are payable semi-annually on each May 25 and November 25, commencing on November 25, 2017 during the five-year fixed-term and thereafter on February 25, May 25, August 25 and November 25 of each year, commencing on August 25, 2022. The subordinated notes have an optional redemption in whole or in part on any interest payment date on or after May 25, 2022. The senior notes and subordinated notes are unsecured obligations of the Company. Unamortized debt issuance costs related to the senior notes and subordinated notes issued in 2017 totaled $0.3 million and $0.7 million, respectively, at June 30, 2020. Unamortized debt issuance costs related to the senior notes and subordinated notes issued in 2017 totaled $0.3 million and $0.8 million, respectively, at December 31, 2019. ​ To further enhance the Company’s strong capital and liquidity positions, on June 1, 2020, the Company issued $125.0 million of fixed-to-floating rate subordinated notes that mature on June 1, 2030. The subordinated notes, which qualify as Tier 2 capital for First Busey, bear interest at an annual rate of 5.25% for the first five years after issuance and thereafter bear interest at a floating rate equal to a three-month benchmark rate plus a spread of 5.11% , as calculated on each applicable determination date. The subordinated notes are payable semi-annually on each June 1 and December 1, during the five-year fixed-term and thereafter on March 1, June 1, September 1 and December 1 of each year, commencing on September 1, 2025. The subordinated notes have an optional redemption in whole or in part on any interest payment date on or after June 1, 2025. The subordinated notes are unsecured obligations of the Company. Unamortized debt issuance costs related to the subordinated notes issued in 2020 totaled $2.3 million at June 30, 2020.

Earnings Per Common Share

Earnings Per Common Share	6 Months Ended
	Jun. 30, 2020
Earnings Per Common Share
Earnings Per Common Share	Note 7: Earnings Per Common Share ​ Earnings per common share have been computed as follows (in thousands, except per share data) : ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ June 30, ​ June 30, ​ 2020 2019 2020 2019 Net income ​ $ 25,806 ​ $ 24,085 ​ $ 41,170 ​ $ 49,554 Shares: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average common shares outstanding ​ 54,489 ​ 55,638 ​ 54,576 ​ 54,464 Dilutive effect of outstanding options, warrants and restricted stock units as determined by the application of the treasury stock method ​ 216 ​ 303 ​ 231 ​ 300 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average common shares outstanding, as adjusted for diluted earnings per share calculation ​ 54,705 ​ 55,941 ​ 54,807 ​ 54,764 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic earnings per common share ​ $ 0.47 ​ $ 0.43 ​ $ 0.75 ​ $ 0.91 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted earnings per common share ​ $ 0.47 ​ $ 0.43 ​ $ 0.75 ​ $ 0.90 ​ Basic earnings per share is computed by dividing net income 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 is computed using the treasury stock method and reflects the potential dilution that could occur if the Company’s outstanding stock options and warrants were exercised and restricted stock units were vested. At June 30, 2020, 367,121 outstanding restricted stock units, 39,525 outstanding stock options and 191,278 warrants were anti-dilutive and excluded from the calculation of common stock equivalents. At June 30, 2019, 169,258 outstanding restricted stock equivalents, 48,107 outstanding stock options and 191,278 warrants were anti-dilutive and excluded from the calculation of common stock equivalents.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Jun. 30, 2020
Accumulated Other Comprehensive Income (Loss).
Accumulated Other Comprehensive Income (Loss).	Note 8: Accumulated Other Comprehensive Income (Loss) ​ The following table represents changes in accumulated other comprehensive income (loss) by component, net of tax, for the periods below (dollars in thousands) : ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ ​ June 30, ​ ​ 2020 ​ ​ 2019 ​ ​ ​ Before Tax ​ Tax Effect ​ Net of Tax ​ ​ Before Tax ​ Tax Effect ​ Net of Tax Unrealized gains (losses) on debt securities available for sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at beginning of period ​ $ 49,722 $ (14,173) $ 35,549 ​ $ 2,235 $ (640) $ 1,595 Unrealized holding gains (losses) on debt securities available for sale, net ​ ​ 5,857 ​ (1,670) ​ 4,187 ​ ​ 18,214 ​ (5,189) ​ 13,025 Unrealized gains on debt securities transferred from held to maturity to available for sale ​ ​ — ​ — ​ — ​ ​ — ​ — ​ — Amounts reclassified from accumulated other comprehensive income, net ​ ​ (143) ​ 41 ​ (102) ​ ​ 10 ​ (3) ​ 7 Balance at end of period ​ $ 55,436 $ (15,802) $ 39,634 ​ $ 20,459 $ (5,832) $ 14,627 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized gains (losses) on cash flow hedges: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at beginning of period ​ $ (3,424) $ 976 $ (2,448) ​ $ — $ — $ — Unrealized holding gains (losses) on cash flow hedges, net ​ ​ (14) ​ 4 ​ (10) ​ ​ — ​ — ​ — Amounts reclassified from accumulated other comprehensive income, net ​ ​ (195) ​ 56 ​ (139) ​ ​ — ​ — ​ — Balance at end of period ​ $ (3,633) $ 1,036 $ (2,597) ​ $ — $ — $ — Total accumulated other comprehensive income (loss) ​ $ 51,803 $ (14,766) $ 37,037 ​ $ 20,459 $ (5,832) $ 14,627 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended ​ ​ ​ June 30, ​ ​ 2020 ​ ​ 2019 ​ ​ ​ Before Tax ​ Tax Effect ​ Net of Tax ​ ​ Before Tax ​ Tax Effect ​ Net of Tax Unrealized gains (losses) on debt securities available for sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at beginning of period ​ $ 21,192 $ (6,032) $ 15,160 ​ $ (9,528) $ 2,716 $ (6,812) Unrealized holding gains (losses) on debt securities available for sale, net ​ ​ 35,943 ​ (10,259) ​ 25,684 ​ ​ 25,014 ​ (7,129) ​ 17,885 Unrealized losses on debt securities transferred from held to maturity to available for sale ​ ​ — ​ — ​ — ​ ​ 4,780 ​ (1,364) ​ 3,416 Amounts reclassified from accumulated other comprehensive income, net ​ ​ (1,699) ​ 489 ​ (1,210) ​ ​ 193 ​ (55) ​ 138 Balance at end of period ​ $ 55,436 ​ (15,802) ​ 39,634 ​ $ 20,459 ​ (5,832) ​ 14,627 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized gains (losses) on cash flow hedges: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at beginning of period ​ $ (280) $ 80 $ (200) ​ $ — $ — $ — Unrealized holding gains (losses) on cash flow hedges, net ​ ​ (3,143) ​ 896 ​ (2,247) ​ ​ — ​ — ​ — Amounts reclassified from accumulated other comprehensive income, net ​ ​ (210) ​ 60 ​ (150) ​ ​ — ​ — ​ — Balance at end of period ​ $ (3,633) ​ 1,036 ​ (2,597) ​ $ — ​ — ​ — Total accumulated other comprehensive income (loss) ​ $ 51,803 ​ (14,766) ​ 37,037 ​ $ 20,459 ​ (5,832) ​ 14,627

Share-based Compensation

Share-based Compensation	6 Months Ended
	Jun. 30, 2020
Share-based Compensation
Share-based Compensation	Note 9: Share-based Compensation ​ The First Busey 2020 Equity Incentive Plan (the “2020 Equity Plan”) was approved by stockholders at the 2020 Annual Meeting of Stockholders. A description of the 2020 Equity Plan can be found in the Company’s Proxy Statement for the 2020 Annual Meeting of Stockholders filed on April 9, 2020. The 2020 Equity Plan replaces the 2010 Equity Incentive Plan and the First Community Financial Partners, Inc. 2016 Equity Incentive Plan, which from time to time, the Company used to grant equity awards to legacy employees of First Community Financial Partners, Inc. ​ The Company currently grants share-based compensation in the form of restricted stock units and deferred stock units. Starting in July 2020, the Company granted performance-based restricted stock unit awards. The Company grants restricted stock units to members of management periodically throughout the year. Each restricted stock unit is equivalent to one share of the Company’s common stock. These units have requisite service periods ranging from one to five years . The Company annually grants share-based awards in the form of deferred stock units, which are restricted stock units with a deferred settlement date, to its directors. Each deferred stock unit is equivalent to one share of the Company’s common stock. The deferred stock units vest over a 12-month period following the grant date. These units generally are subject to the same terms as restricted stock units under the Company’s 2020 Equity 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 and stock options assumed from acquisitions. ​ Stock Option Plan ​ A summary of the status of and changes in the Company's stock option awards for the six months ended June 30, 2020 follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted- ​ Weighted- ​ ​ ​ ​ Average ​ Average ​ ​ ​ ​ Exercise ​ Remaining Contractual ​ Shares Price Term Outstanding at beginning of period 53,185 $ 22.00 ​ ​ Exercised (12,956) ​ 22.73 ​ ​ Forfeited — ​ ​ — ​ ​ Expired (704) ​ 19.98 ​ ​ Outstanding at end of period 39,525 $ 23.53 6.38 Exercisable at end of period 39,525 $ 23.53 6.38 ​ The Company did not record any stock option compensation expense for the three and six months ended June 30, 2020. The Company recorded an insignificant amount and $0.1 million of stock option compensation expense for the three and six months ended June 30, 2019, respectively, related to the converted options from First Community Financial Partners, Inc. ​ Restricted Stock Unit Plan ​ A summary of the changes in the Company’s stock unit awards for the six months ended June 30, 2020, 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 period 778,317 $ 27.27 21,261 $ 23.18 Granted 3,808 ​ 26.26 — ​ — Dividend equivalents earned 16,167 ​ 20.92 1,912 ​ 20.91 Vested (117,641) ​ 21.38 (23,173) ​ 26.29 Forfeited (13,522) ​ 28.45 — ​ — Non-vested at end of period 667,129 $ 28.13 — $ — Outstanding at end of period 667,129 $ 28.13 69,406 $ 24.47 ​ Recipients earn quarterly dividend equivalents on their respective units which 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 February 5, 2020, under the terms of the 2010 Equity Incentive Plan, the Company granted 3,808 restricted stock units to a member of management. As the stock price on the grant date of February 5, 2020 was $26.26 , total compensation cost to be recognized is $0.1 million. This cost will be recognized over a period of three years . Subsequent to the requisite service period, the awards will become 100% vested. ​ The Company recognized $1.1 million and $1.0 million of compensation expense related to both non-vested restricted stock units and deferred stock units for the three months ended June 30, 2020 and 2019, respectively. The Company recognized $2.2 million and $1.9 million of compensation expense related to both non-vested restricted stock units and deferred stock units for the six months ended June 30, 2020 and 2019, respectively. As of June 30, 2020, there was $9.8 million of total unrecognized compensation cost related to these non-vested stock awards. This cost is expected to be recognized over a weighted average period of 3.2 years. ​ As of June 30, 2020, 1,829,606 shares remain available for issuance pursuant to the Company’s 2020 Equity Incentive Plan and 24,761 shares remain available for issuance pursuant to the Company’s Employee Stock Purchase Plan.

Outstanding Commitments and Con

Outstanding Commitments and Contingent Liabilities	6 Months Ended
	Jun. 30, 2020
Outstanding Commitments and Contingent Liabilities
Outstanding Commitments and Contingent Liabilities	Note 10: 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 ​ 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 (dollars in thousands) : ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2020 December 31, 2019 Financial instruments whose contract amounts represent credit risk: ​ ​ ​ ​ ​ ​ Commitments to extend credit ​ $ 1,705,344 ​ $ 1,649,565 Standby letters of credit ​ 47,886 ​ 42,581 ​ ​ Upon adoption of CECL, the Company recorded a $5.5 million reserve for unfunded commitments. The Company recorded provision expense of $0.6 million and $1.6 million in the three and six months ended June 30, 2020, respectively, in other non-interest expense for a total unfunded reserve of $7.1 million as of June 30, 2020.

Regulatory Capital

Regulatory Capital	6 Months Ended
	Jun. 30, 2020
Regulatory Capital
Regulatory Capital	​ ​ Note 11: Regulatory Capital ​ The Company and Busey Bank are subject to various regulatory capital requirements administered by federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory—and possibly additional discretionary—actions by regulators that, if undertaken, could have a direct material effect on the Company's consolidated financial statements. The capital amounts and classification also are subject to qualitative judgments by the regulators about components, risk weightings and other factors. ​ Banking regulations identify five capital categories for insured depository institutions: well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized and critically undercapitalized. As of June 30, 2020 and December 31, 2019, all capital ratios of the Company and Busey Bank exceeded the well capitalized levels under the applicable regulatory capital adequacy guidelines. Management believes that no events or changes have occurred subsequent to June 30, 2020 that would change this designation. ​ On March 27, 2020, the FDIC and other federal banking agencies published an interim final rule that provides those banking organizations adopting CECL during 2020 with the option to delay for two years the estimated impact of CECL on regulatory capital and to phase in the aggregate impact of the deferral on regulatory capital over a subsequent three year period. Under this interim final rule, because the Company has elected to use the deferral option, the regulatory capital impact of our transition adjustments recorded on January 1, 2020 from the adoption of CECL will be deferred for two years. In addition, 25 percent of the ongoing impact of CECL on our allowance for credit losses, retained earnings, and average total consolidated assets from January 1, 2020 through the end of the two-year deferral period, each as reported for regulatory capital purposes, will be added to the deferred transition amounts (“adjusted transition amounts”) and deferred for the two-year period. At the conclusion of the two-year period (January 1, 2022), the adjusted transition amounts will be phased-in for regulatory capital purposes at a rate of 25 percent per year, with the phased-in amounts included in regulatory capital at the beginning of each year. ​ On June 1, 2020, the Company issued $125.0 million of fixed-to-floating rate subordinated notes that mature on June 1, 2030, which qualify as Tier 2 capital for regulatory purposes. The following tables summarize the applicable holding company and bank regulatory capital requirements (dollars in thousands) : ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Minimum ​ ​ ​ ​ ​ ​ ​ Minimum ​ ​ To Be Well ​ Actual ​ ​ Capital Requirement ​ ​ Capitalized ​ Amount Ratio ​ Amount Ratio ​ Amount Ratio As of June 30, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Capital (to Risk Weighted Assets) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consolidated $ 1,200,278 16.23 % ​ $ 591,499 8.00 % ​ $ 739,374 10.00 % Busey Bank $ 1,056,068 14.30 % ​ $ 590,746 8.00 % ​ $ 738,433 10.00 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Tier 1 Capital (to Risk Weighted Assets) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consolidated $ 941,243 12.73 % ​ $ 443,624 6.00 % ​ $ 591,499 8.00 % Busey Bank $ 982,033 13.30 % ​ $ 443,060 6.00 % ​ $ 590,746 8.00 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Common Equity Tier 1 Capital (to Risk Weighted Assets) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consolidated $ 867,243 11.73 % ​ $ 332,718 4.50 % ​ $ 480,593 6.50 % Busey Bank $ 982,033 13.30 % ​ $ 332,295 4.50 % ​ $ 479,981 6.50 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Tier 1 Capital (to Average Assets) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consolidated $ 941,243 9.42 % ​ $ 399,631 4.00 % ​ N/A N/A ​ Busey Bank $ 982,033 9.82 % ​ $ 399,926 4.00 % ​ $ 499,907 5.00 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Minimum ​ ​ ​ ​ ​ ​ ​ ​ Minimum ​ ​ To Be Well ​ ​ Actual ​ ​ Capital Requirement ​ ​ Capitalized ​ ​ Amount Ratio ​ Amount Ratio ​ Amount Ratio ​ As of December 31, 2019: ​ ​ Total Capital (to Risk Weighted Assets) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consolidated $ 1,036,143 14.03 % ​ $ 590,826 8.00 % ​ $ 738,532 10.00 % Busey Bank $ 1,099,449 14.92 % ​ $ 589,681 8.00 % ​ $ 737,101 10.00 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Tier 1 Capital (to Risk Weighted Assets) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consolidated $ 922,395 12.49 % ​ $ 443,120 6.00 % ​ $ 590,826 8.00 % Busey Bank $ 1,045,701 14.19 % ​ $ 442,261 6.00 % ​ $ 589,681 8.00 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Common Equity Tier 1 Capital (to Risk Weighted Assets) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consolidated $ 848,395 11.49 % ​ $ 332,340 4.50 % ​ $ 480,046 6.50 % Busey Bank $ 1,045,701 14.19 % ​ $ 331,696 4.50 % ​ $ 479,116 6.50 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Tier 1 Capital (to Average Assets) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consolidated $ 922,395 9.88 % ​ $ 373,360 4.00 % ​ N/A N/A ​ Busey Bank $ 1,045,701 11.19 % ​ $ 373,639 4.00 % ​ $ 467,049 5.00 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ In July 2013, the U.S. federal banking authorities approved the Basel III Rule for strengthening international capital standards. The Basel III Rule introduced a capital conservation buffer, composed entirely of Common Equity Tier 1 Capital (“CET1”), which is added to the minimum risk-weighted asset ratios. The capital conservation buffer is not a minimum capital requirement; however, banking institutions with a ratio of CET1 to risk-weighted assets below the capital conservation buffer will face constraints on dividends, equity repurchases and discretionary bonus payments based on the amount of the shortfall. In order to refrain from restrictions on dividends, equity repurchases and discretionary bonus payments, banking institutions must maintain minimum ratios of (i) CET1 to risk-weighted assets of at least 7.00%, (ii) tier 1 capital to risk-weighted assets of at least 8.50%, and (iii) total capital to risk-weighted assets of at least 10.50%.

Operating Segments and Related

Operating Segments and Related Information	6 Months Ended
	Jun. 30, 2020
Operating Segments and Related Information
Operating Segments and Related Information	Note 12: 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 banking center network in Illinois, the St. Louis, Missouri metropolitan area, southwest Florida and through its banking center in Indianapolis, Indiana. 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 information 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 “Note 1. Significant Accounting Policies” to Form 10-K. The Company accounts for intersegment revenue and transfers at current market value. ​ Following is a summary of selected financial information for the Company’s operating segments (dollars in thousands) : ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Goodwill ​ Total Assets ​ June 30, 2020 December 31, 2019 June 30, 2020 December 31, 2019 Banking ​ $ 288,436 ​ $ 288,436 ​ $ 10,765,956 ​ $ 9,632,368 Remittance Processing ​ 8,992 ​ 8,992 ​ 45,334 ​ 44,209 Wealth Management ​ 14,108 ​ 14,108 ​ 40,361 ​ 32,760 Other ​ — ​ — ​ (15,686) ​ (13,608) Totals ​ $ 311,536 ​ $ 311,536 ​ $ 10,835,965 ​ $ 9,695,729 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, ​ Six Months Ended June 30, ​ 2020 2019 2020 2019 Net interest income: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Banking ​ $ 73,318 ​ $ 75,944 ​ $ 144,891 ​ $ 146,582 Remittance Processing ​ ​ 19 ​ ​ 18 ​ ​ 38 ​ ​ 36 Wealth Management ​ — ​ — ​ — ​ — Other ​ (2,524) ​ (2,534) ​ (4,683) ​ (4,807) Total net interest income ​ $ 70,813 ​ $ 73,428 ​ $ 140,246 ​ $ 141,811 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-interest income: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Banking ​ $ 14,026 ​ $ 15,659 ​ $ 27,194 ​ $ 28,442 Remittance Processing ​ 3,962 ​ 4,117 ​ 8,031 ​ 8,298 Wealth Management ​ 10,310 ​ 9,594 ​ 22,019 ​ 18,727 Other ​ (334) ​ (1,474) ​ (1,763) ​ (1,626) Total non-interest income ​ $ 27,964 ​ $ 27,896 ​ $ 55,481 ​ $ 53,841 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-interest expense: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Banking ​ $ 41,659 ​ $ 56,895 ​ $ 90,174 ​ $ 102,066 Remittance Processing ​ ​ 3,243 ​ ​ 2,589 ​ ​ 6,146 ​ ​ 5,353 Wealth Management ​ ​ 6,254 ​ ​ 5,749 ​ ​ 13,228 ​ ​ 11,313 Other ​ ​ 1,912 ​ ​ 2,787 ​ ​ 4,034 ​ ​ 6,451 Total non-interest expense ​ $ 53,068 ​ $ 68,020 ​ $ 113,582 ​ $ 125,183 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income before income taxes: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Banking ​ $ 32,794 ​ $ 32,191 ​ $ 51,804 ​ $ 68,330 Remittance Processing ​ ​ 738 ​ ​ 1,546 ​ ​ 1,923 ​ ​ 2,981 Wealth Management ​ ​ 4,056 ​ ​ 3,845 ​ ​ 8,791 ​ ​ 7,414 Other ​ ​ (4,770) ​ ​ (6,795) ​ ​ (10,480) ​ ​ (12,884) Total income before income taxes ​ $ 32,818 ​ $ 30,787 ​ $ 52,038 ​ $ 65,841 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Banking ​ $ 25,985 ​ $ 24,441 ​ $ 40,909 ​ $ 51,106 Remittance Processing ​ 528 ​ 1,105 ​ 1,388 ​ 2,130 Wealth Management ​ 3,082 ​ 2,845 ​ 6,681 ​ 5,486 Other ​ (3,789) ​ (4,306) ​ (7,808) ​ (9,168) Total net income ​ $ 25,806 ​ $ 24,085 ​ $ 41,170 ​ $ 49,554 ​

Derivative Financial Instrument

Derivative Financial Instruments	6 Months Ended
	Jun. 30, 2020
Derivative Financial Instruments
Derivative Financial Instruments	Note 13: Derivative Financial Instruments ​ The Company utilizes interest rate swap agreements as part of its asset liability management strategy to help manage its interest rate risk position. Additionally, the Company enters into derivative financial instruments, including interest rate lock commitments issued to residential loan customers for loans that will be held for sale, forward sales commitments to sell residential mortgage loans to investors and interest rate swaps with customers and other third parties. See “Note 14: Fair Value Measurements” for further discussion of the fair value measurement of such derivatives. ​ Interest Rate Swaps Designated as Cash Flow Hedges: Starting in the third quarter of 2019, the Company entered into derivative instruments designated as cash flow hedges. For derivative instruments that are designated and qualify as a cash flow hedge, the change in fair value of the derivative instrument is reported as a component of other comprehensive income and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Change in fair value of components excluded from the assessment of effectiveness are recognized in current earnings. ​ Interest rate swaps with notional amounts totaling $70.0 million as of June 30, 2020 and December 31, 2019 were designated as cash flow hedges to hedge the risk of variability in cash flows (future interest payments) attributable to changes in the contractually specified 3 month LIBOR benchmark interest rate on the Company’s junior subordinated debt owed to unconsolidated trusts and were determined to be highly effective during the period. The gross aggregate fair value of the swaps of $3.6 million and $0.3 million is recorded in other liabilities in the unaudited consolidated financial statements at June 30, 2020 and December 31, 2019, respectively, with changes in fair value recorded net of tax in other comprehensive income (loss). The Company expects the hedges to remain highly effective during the remaining terms of the swaps. ​ A summary of the interest-rate swaps designated as cash flow hedges is presented below (dollars in thousands) : ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2020 ​ December 31, 2019 ​ Notional amount ​ $ 70,000 ​ ​ $ 70,000 ​ Weighted average fixed pay rates ​ 1.80 % ​ 1.80 % Weighted average variable 3 month LIBOR receive rates ​ ​ 0.31 % ​ ​ 1.90 % Weighted average maturity ​ ​ 3.36 yrs ​ ​ 3.86 yrs Unrealized gains (losses), net of tax ​ $ (2,597) ​ ​ $ (200) ​ ​ Interest expense recorded on these swap transactions were $0.2 million during the three and six months ended June 30, 2020. The Company expects $0.3 million of the unrealized loss to be reclassified from Other Comprehensive Income (Loss) (“OCI”) to interest expense during the next 12 months. This reclassified amount could differ from amounts actually recognized due to changes in interest rates, hedge de-designations and the addition of other hedges subsequent to June 30, 2020. ​ The following table presents the net gains (losses) recorded in accumulated other comprehensive income (loss) and the unaudited Consolidated Statements of Income relating to cash flow derivative instruments for the period presented (dollars in thousands) : ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, 2020 ​ Six Months Ended June 30, 2020 ​ ​ ​ Amount of (gain) loss recognized in OCI ​ ​ ​ Amount of (gain) loss reclassified from OCI to interest income ​ ​ Amount of (gain) loss recognized in OCI ​ ​ Amount of (gain) loss reclassified from OCI to interest income Interest rate contracts ​ $ (10) ​ ​ $ (139) ​ $ (2,247) ​ $ (150) ​ The Company pledged $3.8 million and $0.3 million in cash to secure its obligation under these contracts at June 30, 2020 and December 31, 2019, respectively. ​ Interest Rate Lock Commitments . At June 30, 2020 and December 31, 2019, the Company had issued $129.5 million and $69.1 million, respectively, 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 June 30, 2020 and December 31, 2019, the Company had issued $231.4 million and $135.3 million, respectively, 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 serve 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. 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 derivative assets and liabilities related to interest rate lock commitments and forward sales commitments recorded in the unaudited Consolidated Balance Sheets are summarized as follows (dollars in thousands) : ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2020 December 31, 2019 Fair value recorded in other assets ​ $ 2,410 ​ $ 1,046 Fair value recorded in other liabilities ​ 4,974 ​ ​ 2,187 ​ The gross gains and losses on these derivative assets and liabilities related to interest rate lock commitments and forward sales commitments recorded in non-interest income and expense in the unaudited Consolidated Statements of Income are summarized as follows (dollars in thousands) : ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, Six Months Ended June 30, ​ ​ ​ 2020 ​ ​ 2019 ​ ​ 2020 ​ ​ 2019 Gross gains ​ $ 4,696 ​ $ 1,929 ​ $ 11,366 ​ $ 3,007 Gross (losses) ​ (4,974) ​ ​ (1,949) ​ (12,318) ​ ​ (3,067) Net gains (losses) ​ $ (278) ​ $ (20) ​ $ (952) ​ $ (60) ​ The impact of the net gains or losses 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 are almost entirely offset by a corresponding change in the fair value of loans held for sale. ​ Interest Rate Swaps Not Designated as Hedges. The Company may offer derivative contracts to its customers in connection with their risk management needs. The Company manages the risk associated with these contracts by entering into an equal and offsetting derivative with a third-party dealer. With notional values of $685.2 million and $580.8 million at June 30, 2020 and December 31, 2019, respectively, these contracts support variable rate, commercial loan relationships totaling $342.6 million and $290.4 million, respectively. These derivatives generally worked together as an economic interest rate hedge, but 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 derivative assets and liabilities related to derivatives for customers for interest rate swaps recorded in the unaudited Consolidated Balance Sheets are summarized as follows (dollars in thousands) : ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2020 ​ December 31, 2019 Fair value recorded in other assets ​ $ 38,693 ​ $ 12,354 Fair value recorded in other liabilities ​ ​ 38,693 ​ ​ 12,354 ​ The gross gains and losses on these derivative assets and liabilities recorded in non-interest income and non-interest expense in the unaudited Consolidated Statements of Income are summarized as follows (dollars in thousands) : ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, ​ Six Months Ended June 30, ​ ​ 2020 ​ 2019 ​ 2020 ​ 2019 Gross gains ​ $ 2,861 ​ $ 73 ​ $ 26,339 ​ $ 164 Gross losses ​ ​ (2,861) ​ ​ (73) ​ ​ (26,339) ​ ​ (164) Net gains (losses) ​ $ — ​ $ — ​ $ — ​ $ — ​ The Company pledged $38.8 million and $18.1 million in cash to secure its obligation under these contracts at June 30, 2020 and December 31, 2019, respectively.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2020
Fair Value Measurements
Fair Value Measurements	Note 14: Fair Value Measurements ​ The fair value of an asset or liability is the price that would be received by selling that asset or paid in transferring that liability (exit price) in an orderly transaction occurring in the principal market (or most advantageous market in the absence of a principal market) for such asset or liability. ASC Topic 820, Fair Value Measurement , establishes a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows: ​ Level 1 Inputs - Unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. ​ Level 2 Inputs - Inputs other than quoted prices included in level 1 that are observable for the asset or liability, either directly or indirectly. These might include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (such as interest rates, volatilities, prepayment speeds, credit risks, etc.) or inputs that are derived principally from or corroborated by market data by correlation or other means. ​ Level 3 Inputs - Unobservable inputs for determining the fair values of assets or liabilities that reflect the Company’s own assumptions about the assumptions that market participants would use in pricing the assets or liabilities. ​ A description of the valuation methodologies used for instruments measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy, is set forth below. These valuation methodologies were applied to those Company assets and liabilities that are carried at fair value. ​ In general, fair value is based upon quoted market prices, when available. If such quoted market prices are not available, fair values are measured utilizing independent valuation techniques of identical or similar securities for which significant assumptions are derived primarily from or corroborated by observable data. Valuation adjustments may be made to ensure that financial instruments are recorded at fair value. These adjustments may include amounts to reflect, among other things, counterparty credit quality and the company's creditworthiness as well as unobservable parameters. Any such valuation adjustments are applied consistently over time. While management believes 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. ​ Debt Securities Available for Sale. Debt securities classified as available for sale are reported at fair value utilizing level 2 measurements. The Company obtains fair value measurements from an independent pricing service. The independent pricing service utilizes evaluated pricing models that vary by asset class and incorporate available trade, bid and other market information. Because many fixed income securities do not trade on a daily basis, the independent pricing service applies available information, focusing on observable market data such as benchmark curves, benchmarking of like securities, sector groupings, and matrix pricing, to prepare evaluations. The independent pricing service uses model processes, such as the Option Adjusted Spread model, to assess interest rate impact and develop prepayment scenarios. 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. For certain security types, additional inputs may be used or some of the market inputs may not be applicable. Evaluators may prioritize inputs differently on any given day for any security based on market conditions, and not all inputs listed are available for use in the evaluation process for each security evaluation on a given day. Because the data utilized was observable, the securities have been classified as level 2. ​ Equity Securities. Equity securities are reported at fair value utilizing level 1 or level 2 measurements. For mutual funds, 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. For stock, quoted prices for identical or similar assets in markets that are not active are utilized and classified as level 2. ​ Loans Held for Sale. Loans held for sale are reported at fair value utilizing level 2 measurements. 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. ​ Derivative Assets and Derivative Liabilities . Derivative assets and derivative liabilities are reported at fair value utilizing level 2 measurements. The fair value of derivative assets and liabilities is determined based on prices that are obtained from a third-party which uses observable market inputs. Derivative assets and liabilities are classified as level 2. ​ The following table summarizes financial assets and financial liabilities measured at fair value on a recurring basis, 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 June 30, 2020 Inputs Inputs Inputs Fair Value Debt securities available for sale ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury securities $ — ​ $ 33,236 ​ $ — ​ $ 33,236 Obligations of U.S. government corporations and agencies — ​ 80,044 ​ — ​ 80,044 Obligations of states and political subdivisions — ​ 282,894 ​ — ​ 282,894 Commercial mortgage-backed securities ​ — ​ ​ 241,305 ​ ​ — ​ ​ 241,305 Residential mortgage-backed securities — ​ 970,193 ​ — ​ 970,193 Corporate debt securities — ​ 89,194 ​ — ​ 89,194 Equity securities ​ — ​ 5,126 ​ — ​ 5,126 Loans held for sale ​ — ​ ​ 108,140 ​ ​ — ​ ​ 108,140 Derivative assets ​ — ​ ​ 41,103 ​ ​ — ​ ​ 41,103 Derivative liabilities ​ — ​ ​ 47,300 ​ ​ — ​ ​ 47,300 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Level 1 Level 2 Level 3 Total December 31, 2019 Inputs Inputs Inputs Fair Value Debt securities available for sale ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury securities $ — ​ $ 51,737 ​ $ — ​ $ 51,737 Obligations of U.S. government corporations and agencies — ​ 163,000 ​ — ​ 163,000 Obligations of states and political subdivisions — ​ 268,291 ​ — ​ 268,291 Commercial mortgage-backed securities ​ — ​ ​ 139,287 ​ ​ — ​ ​ 139,287 Residential mortgage-backed securities — ​ 921,966 ​ — ​ 921,966 Corporate debt securities — ​ 103,976 ​ — ​ 103,976 Equity securities ​ — ​ 5,952 ​ — ​ ​ 5,952 Loans held for sale ​ — ​ ​ 68,699 ​ ​ — ​ ​ 68,699 Derivative assets ​ — ​ ​ 13,400 ​ ​ — ​ ​ 13,400 Derivative liabilities ​ — ​ ​ 14,821 ​ ​ — ​ ​ 14,821 ​ Certain financial assets and financial liabilities are measured at fair value on a non-recurring basis; that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment). ​ Loans Evaluated Individually . The Company does not record portfolio loans at fair value on a recurring basis. However, periodically, a loan is evaluated individually and is reported at the fair value of the underlying collateral, less estimated costs to sell, if repayment is expected solely from the collateral. If the collateral value is not sufficient, a specific reserve is recorded. Collateral values are estimated using a combination of observable inputs, including recent appraisals, and unobservable inputs based on customized discounting criteria. Due to the significance of the unobservable inputs, the fair value of individually evaluated collateral dependent loans have been classified as level 3. ​ 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. Due to the significance of the unobservable inputs, all OREO fair values have been classified as level 3. ​ Bank Property Held for Sale. Bank property held for sale represents certain banking center office buildings which the Company has closed and consolidated with other existing banking centers. Bank property held for sale is measured at the lower of amortized cost or fair value less estimated costs to sell. The fair values were based upon discounted appraisals or real estate listing price. Due to the significance of the unobservable inputs, all bank property held for sale fair values have been classified as level 3. ​ The following table summarizes assets and liabilities measured at fair value on a non-recurring basis, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value (dollars in thousands) : ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Level 1 Level 2 Level 3 Total ​ Inputs Inputs Inputs Fair Value June 30, 2020 ​ ​ Loans evaluated individually ​ $ — ​ $ — ​ $ 2,343 ​ $ 2,343 OREO ​ — ​ — ​ 55 ​ 55 Bank property held for sale ​ — ​ — ​ 3,594 ​ 3,594 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ ​ ​ ​ Loans evaluated individually ​ $ — ​ $ — ​ $ 2,686 ​ $ 2,686 OREO ​ — ​ — ​ 55 ​ 55 Bank property held for sale ​ ​ — ​ — ​ 4,004 ​ 4,004 ​ 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) June 30, 2020 ​ Loans evaluated individually $ 2,343 Appraisal of collateral Appraisal adjustments -11.3% to -100% (-48.5)% OREO 55 Appraisal of collateral Appraisal adjustments -25.0% to -100% (-65.0)% Bank property held for sale ​ 3,594 ​ Appraisal of collateral or real estate listing price ​ Appraisal adjustments ​ -6.2% to -64.9% (-23.9)% ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans evaluated individually $ 2,686 Appraisal of collateral Appraisal adjustments -2.9% to -100% (-57.8)% OREO 55 Appraisal of collateral Appraisal adjustments -25.0% to -100% (-65.0)% Bank property held for sale ​ 4,004 ​ Appraisal of collateral or real estate listing price ​ Appraisal adjustments ​ -6.2% to -71.3% (-40.7)% ​ The estimated fair values of financial instruments that are reported at amortized cost in the Company’s unaudited 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) : ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2020 ​ December 31, 2019 ​ Carrying Fair Carrying Fair ​ Amount Value Amount Value Financial assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Level 1 inputs: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents $ 1,050,072 ​ $ 1,050,072 ​ $ 529,288 ​ $ 529,288 Level 2 inputs: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accrued interest receivable 34,035 ​ 34,035 ​ 27,109 ​ 27,109 Level 3 inputs: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Portfolio loans, net 7,132,974 ​ 7,148,040 ​ 6,633,501 ​ 6,648,560 Mortgage servicing rights ​ 12,085 ​ ​ 12,481 ​ ​ 12,326 ​ ​ 18,193 Other servicing rights ​ 1,136 ​ ​ 1,623 ​ ​ 1,071 ​ ​ 1,740 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Level 2 inputs: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Time deposits $ 1,363,497 ​ $ 1,381,268 ​ $ 1,534,850 ​ $ 1,538,597 Securities sold under agreements to repurchase 194,249 ​ 194,249 ​ 205,491 ​ 205,491 Short-term borrowings ​ 24,648 ​ ​ 24,642 ​ ​ 8,551 ​ ​ 8,552 Long-term debt 35,101 ​ 35,252 ​ ​ 83,600 ​ 83,614 Junior subordinated debt owed to unconsolidated trusts 71,387 ​ 58,954 ​ 71,308 ​ 74,153 Accrued interest payable 4,659 ​ 4,659 ​ 5,000 ​ 5,000 Level 3 inputs: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Senior notes, net of unamortized issuance costs ​ 39,741 ​ ​ 40,111 ​ ​ 39,674 ​ ​ 40,099 Subordinated notes, net of unamortized issuance costs ​ 181,995 ​ ​ 175,284 ​ ​ 59,248 ​ ​ 61,514 ​

Leases

Leases	6 Months Ended
	Jun. 30, 2020
Leases
Leases	Note 15: Leases ​ The Company has operating leases consisting primarily of equipment leases and real estate leases. The Company leases real estate property for banking centers, ATM locations, and office space with terms extending through 2032. As of June 30, 2020, the Company reported $8.5 million of right-of-use asset and $8.6 million lease liability in its unaudited Consolidated Balance Sheets. ​ The following tables represents lease costs and other lease information for the periods presented (dollars in thousands) : ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, ​ Six Months Ended June 30, Lease Costs 2020 2019 ​ ​ 2020 2019 Operating lease costs $ 635 ​ $ 584 ​ $ 1,255 ​ $ 1,117 Variable lease costs 131 ​ 119 ​ 302 ​ 230 Short-term lease costs ​ 15 ​ ​ 8 ​ ​ 30 ​ ​ 23 Sublease income ​ - ​ ​ - ​ ​ - ​ ​ - Net lease cost $ 781 ​ $ 711 ​ $ 1,587 ​ $ 1,370 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other information ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash paid for amounts included in the measurement of lease liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating lease cash flows – Fixed payments $ 612 ​ $ 570 ​ $ 1,223 ​ $ 1,083 Operating lease cash flows – Liability reduction 534 ​ ​ 490 ​ ​ 1,064 ​ 953 Right of use assets obtained during the period in exchange for operating lease liabilities ​ — ​ ​ 764 ​ ​ 128 ​ ​ 764 Weighted average lease term (in years) ​ 6.44 ​ ​ 6.81 ​ ​ 6.44 ​ ​ 6.81 Weighted average discount rate ​ 3.06% ​ ​ 3.04% ​ ​ 3.06% ​ ​ 3.04% ​ At June 30, 2020, the Company was obligated under noncancelable operating leases for office space and other commitments. Rent expense under operating leases, included in net occupancy and equipment expense, was $0.8 million for the three months ended June 30, 2020 and 2019, respectively and $1.6 million and $1.4 million for the six months ended June 30, 2020 and 2019, respectively. ​ Rent commitments were as follows (dollars in thousands) : ​ ​ ​ ​ ​ ​ Six Months Ended ​ ​ June 30, 2020 Remainder of 2020 $ 1,218 2021 1,814 2022 ​ 1,411 2023 ​ 1,254 2024 ​ 1,022 Thereafter ​ 2,876 Amounts representing interest ​ (994) Present value of net future minimum lease payments $ 8,601 ​

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2020
Significant Accounting Policies
Impacts of COVID-19	Impacts of COVID-19 ​ First Busey continues to operate as an essential community resource during these challenging and unprecedented times. The coronavirus disease 2019 (“COVID-19”) is not only impacting health and safety around the world, it is causing significant economic disruption for both individuals and businesses, making the Company’s promise of support even more important to customers. The Company entered this crisis from a position of strength and remains resolute in its focus on protecting its balance sheet. To further enhance the Company’s strong liquidity position, during the second quarter, the Company completed a successful public offering of $125.0 million of its 5.25% fixed-to-floating rate subordinated notes due 2030. The progression of the COVID-19 pandemic in the United States began to negatively impact the Company’s results of operations starting in the first quarter of 2020. In future quarters, COVID-19 is expected to have a complex and continued adverse impact on the economy, the banking industry and First Busey, all subject to a high degree of uncertainty as it relates to both timing and severity. Primary areas of potential future impact for First Busey may include continued margin compression, increased provision expense, a deterioration in asset quality and lower wealth management fees and fees for customer services. ​ The Company elected to participate in the Paycheck Protection Program (“PPP”) and at June 30, 2020 had $746.4 million in PPP loans outstanding, with an amortized cost of $729.3 million, representing 4,445 new and existing customers. The company received fees totaling approximately $25.0 million and incurred incremental direct origination costs of $4.9 million, both of which have been deferred and are being amortized over the contractual life of these loans, subject to prepayment. The Company recognized $3.0 million of this net amount into interest income in the second quarter of 2020.
Subsequent Events	Subsequent Events ​ 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. Subsequent to quarter end, the Company decided to consolidate 12 banking centers. One-time expenses expected in relation to the banking center closings are anticipated to be incurred during the third and fourth quarters of 2020. There were no other significant subsequent events for the quarter ended June 30, 2020 through the issuance date of these unaudited consolidated financial statements that warranted adjustment to or disclosure in the unaudited consolidated financial statements.
Use of Estimates	Use of Estimates ​ In preparing the accompanying unaudited consolidated financial statements in conformity with GAAP, the Company’s management is required to make estimates and assumptions that affect the amounts reported in the financial statements and the disclosures provided. Actual results could differ from those estimates. Material estimates which are particularly susceptible to significant change in the near term relate to the fair value of investment securities, fair value of assets acquired and liabilities assumed in business combinations, goodwill, income taxes and the determination of the allowance.
Impact of recently adopted accounting standards	Impact of recently adopted accounting standards On January 1, 2020, First Busey adopted Accounting Standards Update (“ASU”) 2016-13 Financial Instruments – Credit Losses (“Topic 326”): Measurement of Credit Losses on Financial Instruments , as amended, which replaces the incurred loss methodology with an expected loss methodology that is referred to as the current expected credit loss (“CECL”) methodology. The measurement of expected credit losses under the CECL methodology is applicable to financial assets measured at amortized cost, including loan receivables and held-to-maturity debt securities. It also applies to off-balance-sheet credit exposures not accounted for as insurance (loan commitments, standby letters of credit, financial guarantees, and other similar instruments) and net investments in leases recognized by a lessor in accordance with Topic 842 on leases. In addition, Accounting Standards Codification (“ASC”) 326 made changes to the accounting for available-for-sale debt securities. One such change is to require credit losses to be presented as an allowance rather than as a write-down on available-for-sale debt securities management does not intend to sell or believes that it is more likely than not they will not be required to sell before recovery of its amortized cost basis. ​ First Busey adopted ASC 326 using the modified retrospective method for all financial assets measured at amortized cost and off-balance-sheet credit exposures. Results for reporting periods beginning after January 1, 2020 are presented under ASC 326 while prior period amounts continue to be reported in accordance with previously applicable GAAP which includes a change in terminology from Allowance/Provision for Loan Losses to Allowance/Provision for Credit Losses. First Busey recorded a net decrease to retained earnings of $15.9 million as of January 1, 2020 for the cumulative effect of adopting ASC 326. This transition adjustment included $12.0 million in allowance for credit losses on loans and $3.9 million in reserve for off-balance-sheet credit exposures. ​ First Busey adopted ASC 326 using the prospective transition approach for financial assets purchased with credit deterioration (“PCD”) that were previously classified as purchased credit impaired (“PCI”) and accounted for under ASC 310-30. In accordance with the standard, management did not reassess whether PCI assets met the criteria of PCD assets as of the date of adoption. In accordance with ASC 326, the amortized cost basis of PCD assets were adjusted to reflect an allowance for credit losses for any remaining credit discount. Subsequent changes in expected cash flows will be adjusted through the allowance for credit losses. The noncredit discount will be accreted into interest income at the effective interest rate as of January 1, 2020.

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2020
Significant Accounting Policies
Impact of ASC Topic 326	The following table illustrates the impact of ASC 326 (dollars in thousands) : ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 1, 2020 ​ ​ ​ ​ ​ ​ Pre-tax ​ ​ Post ASC 326 ​ Pre-ASC 326 ​ impact of ASC 326 ​ Adoption Adoption Adoption Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ $ 19,006 ​ $ 18,291 ​ $ 715 Commercial real estate ​ ​ 30,496 ​ ​ 21,190 ​ ​ 9,306 Real estate construction ​ ​ 6,158 ​ ​ 3,204 ​ ​ 2,954 Retail real estate ​ ​ 13,787 ​ ​ 10,495 ​ ​ 3,292 Retail other ​ ​ 1,134 ​ ​ 568 ​ ​ 566 Total allowance for credit losses ​ $ 70,581 ​ $ 53,748 ​ $ 16,833 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ Reserve for off-balance-sheet credit exposures ​ $ 5,492 ​ — ​ 5,492

Acquisitions (Tables)

Acquisitions (Tables) - Banc Ed	6 Months Ended
	Jun. 30, 2020
Schedule of fair value estimates of assets acquired and liabilities assumed	The following table presents the estimated fair value of Banc Ed’s assets acquired and liabilities assumed as of January 31, 2019 (dollars in thousands) : ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Assets acquired: ​ ​ Cash and cash equivalents ​ $ 42,013 Securities ​ 692,716 Loans held for sale ​ 2,157 Portfolio loans ​ 873,336 Premises and equipment ​ 32,156 Other intangible assets ​ ​ 32,617 Mortgage servicing rights ​ 6,946 Other assets ​ 57,332 Total assets acquired ​ 1,739,273 ​ ​ ​ ​ Liabilities assumed: ​ ​ ​ Deposits ​ 1,439,203 Other borrowings ​ 63,439 Other liabilities ​ 20,153 Total liabilities assumed ​ 1,522,795 ​ ​ ​ ​ Net assets acquired ​ $ 216,478 ​ ​ ​ ​ Consideration paid: ​ ​ ​ Cash ​ $ 91,400 Common stock ​ 166,515 Total consideration paid ​ $ 257,915 ​ ​ ​ ​ Goodwill ​ $ 41,437
Schedule of unaudited pro forma results of operations for the acquisition	​ ​ ​ ​ ​ ​ ​ ​ ​ Pro Forma ​ Three Months Ended ​ Six Months Ended ​ ​ June 30, 2019 ​ June 30, 2019 Total revenues (net interest income plus non-interest income) $ 101,324 ​ $ 201,976 Net income 26,947 ​ ​ 54,337 Diluted earnings per common share 0.48 ​ ​ 0.97

Securities (Tables)

Securities (Tables)	6 Months Ended
	Jun. 30, 2020
Securities
Schedule of amortized cost, unrealized gains and losses and fair values of securities classified available for sale and held to maturity	The table below provides the amortized cost, unrealized gains and losses and fair values of debt securities summarized by major category (dollars in thousands) : ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Gross ​ ​ Allowance ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ ​ for Credit ​ Fair June 30, 2020: Cost Gains Losses ​ ​ Losses ​ Value Debt securities available for sale ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury securities ​ $ 32,597 ​ $ 639 ​ $ — ​ $ — ​ $ 33,236 Obligations of U.S. government corporations and agencies ​ 77,349 ​ 2,752 ​ (57) ​ ​ — ​ 80,044 Obligations of states and political subdivisions ​ 272,885 ​ 10,047 ​ (38) ​ ​ — ​ 282,894 Commercial mortgage-backed securities ​ ​ 230,352 ​ ​ 10,956 ​ ​ (3) ​ ​ — ​ ​ 241,305 Residential mortgage-backed securities ​ 940,842 ​ 29,475 ​ (124) ​ ​ — ​ 970,193 Corporate debt securities ​ 87,404 ​ 1,826 ​ (36) ​ ​ — ​ 89,194 Total ​ $ 1,641,429 ​ $ 55,695 ​ $ (258) ​ $ — ​ $ 1,696,866 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Gross ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair December 31, 2019: Cost Gains Losses Value Debt securities available for sale ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury securities ​ $ 51,472 ​ $ 265 ​ $ — ​ $ 51,737 Obligations of U.S. government corporations and agencies ​ 160,364 ​ 2,684 ​ (48) ​ 163,000 Obligations of states and political subdivisions ​ 262,492 ​ 5,810 ​ (11) ​ 268,291 Commercial mortgage-backed securities ​ ​ 137,733 ​ ​ 1,700 ​ ​ (146) ​ ​ 139,287 Residential mortgage-backed securities ​ 912,308 ​ 10,282 ​ (624) ​ 921,966 Corporate debt securities ​ 102,696 ​ 1,280 ​ — ​ 103,976 Total ​ $ 1,627,065 ​ $ 22,021 ​ $ (829) ​ $ 1,648,257
Schedule of amortized cost and fair value of debt securities available for sale and held to maturity by contractual maturity	​ ​ The amortized cost and fair value of debt securities, by contractual maturity or pre-refunded date, are shown below. 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 (dollars in thousands) . ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Debt securities available for sale ​ Amortized Fair June 30, 2020: Cost Value Due in one year or less ​ $ 132,192 ​ $ 133,749 Due after one year through five years ​ 241,337 ​ 250,413 Due after five years through ten years ​ 241,496 ​ 252,566 Due after ten years ​ 1,026,404 ​ 1,060,138 Total ​ $ 1,641,429 ​ $ 1,696,866
Schedule of realized gains and losses related to sales of securities	Realized gains and losses related to sales and calls of debt securities available for sale are summarized as follows (dollars in thousands) : ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, Six Months Ended June 30, ​ 2020 2019 2020 2019 Gross security gains ​ $ 146 ​ $ 391 $ 1,707 ​ $ 391 Gross security (losses) ​ ​ (3) ​ (400) ​ (8) ​ (583) Net gains (losses) on sales of securities (1) ​ $ 143 ​ $ (9) $ 1,699 ​ $ (192) (1) Net (losses) gains on sales of securities reported on the unaudited Consolidated Statements of Income includes sale of equity securities, excluded in this table.
Schedule of securities with gross unrealized losses aggregated by investment category and length of time that individual securities have been in a continuous loss position	The following information pertains to debt securities with gross unrealized losses, aggregated by investment category and the length of time that individual securities have been in a continuous loss position (dollars in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less than 12 months, gross ​ 12 months or more, gross ​ Total, gross ​ Fair Unrealized Fair Unrealized Fair Unrealized June 30, 2020: Value Losses Value Losses Value Losses Debt securities available for sale ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury securities $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Obligations of U.S. government corporations and agencies ​ 5,648 ​ ​ (57) ​ ​ — ​ ​ — ​ ​ 5,648 ​ ​ (57) Obligations of states and political subdivisions ​ 6,432 ​ ​ (38) ​ ​ — ​ ​ — ​ ​ 6,432 ​ ​ (38) Commercial mortgage-backed securities ​ 4,963 ​ ​ (3) ​ ​ — ​ ​ — ​ ​ 4,963 ​ ​ (3) Residential mortgage-backed securities 35,830 ​ (120) ​ 937 ​ (4) ​ 36,767 ​ (124) Corporate debt securities 4,222 ​ (36) ​ — ​ — ​ 4,222 ​ (36) Total temporarily impaired securities $ 57,095 ​ $ (254) ​ $ 937 ​ $ (4) ​ $ 58,032 ​ $ (258) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less than 12 months, gross ​ 12 months or more, gross ​ Total, gross ​ Fair Unrealized Fair Unrealized Fair Unrealized December 31, 2019: Value Losses Value Losses Value Losses Debt securities available for sale ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury securities $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Obligations of U.S. government corporations and agencies ​ 6,362 ​ ​ (48) ​ ​ — ​ ​ — ​ ​ 6,362 ​ ​ (48) Obligations of states and political subdivisions (1) ​ 4,981 ​ ​ (11) ​ ​ 1,548 ​ ​ — ​ ​ 6,529 ​ ​ (11) Commercial mortgage-backed securities ​ 33,322 ​ ​ (144) ​ ​ 2,044 ​ ​ (2) ​ ​ 35,366 ​ ​ (146) Residential mortgage-backed securities 78,326 ​ (245) ​ 50,259 ​ (379) ​ 128,585 ​ (624) Corporate debt securities — ​ — ​ — ​ — ​ — ​ — Total temporarily impaired securities $ 122,991 ​ $ (448) ​ $ 53,851 ​ $ (381) ​ $ 176,842 ​ $ (829) (1) Unrealized losses for 12 months or more, gross, was less than one thousand dollars.

Portfolio loans (Tables)

Portfolio loans (Tables)	6 Months Ended
	Jun. 30, 2020
Portfolio loans
Distribution of portfolio loans	The distribution of portfolio loans is as follows (dollars in thousands) : ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2020 ​ December 31, 2019 Commercial ​ $ 2,357,954 ​ $ 1,748,368 Commercial real estate ​ ​ 2,847,014 ​ ​ 2,793,417 Real estate construction ​ ​ 433,031 ​ ​ 401,861 Retail real estate ​ ​ 1,548,215 ​ ​ 1,693,769 Retail other ​ ​ 42,806 ​ ​ 49,834 Portfolio loans ​ $ 7,229,020 ​ $ 6,687,249 ​ ​ ​ ​ ​ ​ ​ Allowance ​ ​ (96,046) ​ ​ (53,748) Portfolio loans, net ​ $ 7,132,974 ​ $ 6,633,501
Summary of risk grades segregated by category of portfolio loans (excluding accretable purchase accounting adjustments and clearings)	The following table is a summary of risk grades segregated by category of portfolio loans. June 30, 2020 includes purchase discounts and clearings in the pass rating. December 31, 2019 excludes purchase discounts and clearings. (dollars in thousands) : ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2020 ​ ​ ​ Special ​ Substandard ​ Pass Watch Mention Substandard Non-accrual Commercial $ 2,078,284 ​ $ 136,817 ​ $ 94,439 ​ $ 41,978 ​ $ 6,436 Commercial real estate 2,476,189 ​ 233,826 ​ 93,676 ​ 34,314 ​ 9,009 Real estate construction 405,327 ​ 23,907 ​ 685 ​ 2,832 ​ 280 Retail real estate 1,518,644 ​ 12,124 ​ 3,617 ​ 4,613 ​ 9,217 Retail other 42,653 ​ — ​ — ​ — ​ 153 Total ​ $ 6,521,097 ​ $ 406,674 ​ $ 192,417 ​ $ 83,737 ​ $ 25,095 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ ​ ​ Special ​ Substandard ​ Pass Watch Mention Substandard Non-accrual Commercial $ 1,458,416 ​ $ 172,526 ​ $ 66,337 ​ $ 41,273 ​ $ 9,096 Commercial real estate 2,477,398 ​ 186,963 ​ 105,487 ​ 26,204 ​ 9,178 Real estate construction 351,923 ​ 45,262 ​ 3,928 ​ 737 ​ 630 Retail real estate 1,661,691 ​ 9,125 ​ 5,355 ​ 7,001 ​ 8,935 Retail other 47,698 ​ — ​ — ​ — ​ 57 Total ​ $ 5,997,126 ​ $ 413,876 ​ $ 181,107 ​ $ 75,215 ​ $ 27,896
Risk grades of portfolio loans, further sorted by origination	Risk grades of portfolio loans, further sorted by origination or renewal year at June 30, 2020 is as follows (dollars in thousand) : ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Term Loans Amortized Cost Basis by Origination or Renewal Year ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revolving ​ ​ ​ As of June 30, 2020 2020 2019 2018 2017 2016 ​ ​ Prior ​ ​ loans ​ ​ Total Commercial: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 931,544 ​ $ 193,072 ​ $ 139,275 ​ $ 129,906 ​ $ 79,484 ​ $ 94,852 ​ $ 510,151 ​ $ 2,078,284 Watch ​ ​ 23,426 ​ ​ 22,915 ​ ​ 20,322 ​ ​ 8,145 ​ ​ 3,017 ​ ​ 15,488 ​ ​ 43,504 ​ ​ 136,817 Special Mention ​ ​ 5,947 ​ ​ 5,442 ​ ​ 3,226 ​ ​ 7,039 ​ ​ 6,930 ​ ​ 15,579 ​ ​ 50,276 ​ ​ 94,439 Substandard ​ ​ 11,291 ​ ​ 3,222 ​ ​ 4,258 ​ ​ 5,588 ​ ​ 1,286 ​ ​ 1,372 ​ ​ 14,961 ​ ​ 41,978 Substandard non-accrual ​ ​ 29 ​ ​ 3,659 ​ ​ 713 ​ ​ 541 ​ ​ 804 ​ ​ 690 ​ ​ — ​ ​ 6,436 Total commercial ​ $ 972,237 ​ $ 228,310 ​ $ 167,794 ​ $ 151,219 ​ $ 91,521 ​ $ 127,981 ​ $ 618,892 ​ $ 2,357,954 Commercial real estate: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 315,356 ​ $ 577,080 ​ $ 473,528 ​ $ 496,679 ​ $ 226,747 ​ $ 357,509 ​ $ 29,290 ​ $ 2,476,189 Watch ​ ​ 40,462 ​ ​ 69,029 ​ ​ 44,938 ​ ​ 28,018 ​ ​ 27,333 ​ ​ 23,329 ​ ​ 717 ​ ​ 233,826 Special Mention ​ ​ 12,212 ​ ​ 16,494 ​ ​ 17,895 ​ ​ 14,233 ​ ​ 6,800 ​ ​ 24,553 ​ ​ 1,489 ​ ​ 93,676 Substandard ​ ​ 17,409 ​ ​ 5,862 ​ ​ 3,216 ​ ​ 5,635 ​ ​ 1,863 ​ ​ 329 ​ ​ — ​ ​ 34,314 Substandard non-accrual ​ ​ 300 ​ ​ 1,337 ​ ​ 3,752 ​ ​ 1,496 ​ ​ 391 ​ ​ 1,733 ​ ​ — ​ ​ 9,009 Total commercial real estate ​ $ 385,739 ​ $ 669,802 ​ $ 543,329 ​ $ 546,061 ​ $ 263,134 ​ $ 407,453 ​ $ 31,496 ​ $ 2,847,014 Real estate construction: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 61,660 ​ $ 200,254 ​ $ 122,501 ​ $ 1,535 ​ $ 407 ​ $ 1,299 ​ $ 17,671 ​ $ 405,327 Watch ​ ​ 9,071 ​ ​ 10,092 ​ ​ 2,411 ​ ​ 2,128 ​ ​ 205 ​ ​ ​ ​ ​ ​ ​ ​ 23,907 Special Mention ​ ​ 673 ​ ​ 12 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 685 Substandard ​ ​ 2,600 ​ ​ — ​ ​ 48 ​ ​ 34 ​ ​ 150 ​ ​ — ​ ​ — ​ ​ 2,832 Substandard non-accrual ​ ​ — ​ ​ — ​ ​ 275 ​ ​ — ​ ​ — ​ ​ 5 ​ ​ — ​ ​ 280 Total real estate construction ​ $ 74,004 ​ $ 210,358 ​ $ 125,235 ​ $ 3,697 ​ $ 762 ​ $ 1,304 ​ $ 17,671 ​ $ 433,031 Retail real estate: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 232,130 ​ $ 186,986 ​ $ 172,855 ​ $ 176,644 ​ $ 167,885 ​ $ 340,407 ​ $ 241,737 ​ $ 1,518,644 Watch ​ ​ 1,102 ​ ​ 2,221 ​ ​ 1,943 ​ ​ 333 ​ ​ 986 ​ ​ 722 ​ ​ 4,817 ​ ​ 12,124 Special Mention ​ ​ 526 ​ ​ — ​ ​ 174 ​ ​ — ​ ​ 1,988 ​ ​ 929 ​ ​ — ​ ​ 3,617 Substandard ​ ​ 1,487 ​ ​ 214 ​ ​ 333 ​ ​ 160 ​ ​ 751 ​ ​ 1,216 ​ ​ 452 ​ ​ 4,613 Substandard non-accrual ​ ​ 280 ​ ​ 175 ​ ​ 793 ​ ​ 732 ​ ​ 248 ​ ​ 5,437 ​ ​ 1,552 ​ ​ 9,217 Total retail real estate ​ $ 235,525 ​ $ 189,596 ​ $ 176,098 ​ $ 177,869 ​ $ 171,858 ​ $ 348,711 ​ $ 248,558 ​ $ 1,548,215 Retail other: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 6,101 ​ $ 12,360 ​ $ 8,099 ​ $ 4,079 ​ $ 1,253 ​ $ 1,084 ​ $ 9,677 ​ $ 42,653 Watch ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Special Mention ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Substandard ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Substandard non-accrual ​ ​ 63 ​ ​ 7 ​ ​ — ​ ​ 2 ​ ​ 17 ​ ​ 63 ​ ​ 1 ​ ​ 153 Total retail other ​ $ 6,164 ​ $ 12,367 ​ $ 8,099 ​ $ 4,081 ​ $ 1,270 ​ $ 1,147 ​ $ 9,678 ​ $ 42,806
Summary of portfolio loans that are past due and still accruing or on a non-accrual status	Risk grades of portfolio loans, further sorted by origination or renewal year at June 30, 2020 is as follows (dollars in thousand) : ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Term Loans Amortized Cost Basis by Origination or Renewal Year ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revolving ​ ​ ​ As of June 30, 2020 2020 2019 2018 2017 2016 ​ ​ Prior ​ ​ loans ​ ​ Total Commercial: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 931,544 ​ $ 193,072 ​ $ 139,275 ​ $ 129,906 ​ $ 79,484 ​ $ 94,852 ​ $ 510,151 ​ $ 2,078,284 Watch ​ ​ 23,426 ​ ​ 22,915 ​ ​ 20,322 ​ ​ 8,145 ​ ​ 3,017 ​ ​ 15,488 ​ ​ 43,504 ​ ​ 136,817 Special Mention ​ ​ 5,947 ​ ​ 5,442 ​ ​ 3,226 ​ ​ 7,039 ​ ​ 6,930 ​ ​ 15,579 ​ ​ 50,276 ​ ​ 94,439 Substandard ​ ​ 11,291 ​ ​ 3,222 ​ ​ 4,258 ​ ​ 5,588 ​ ​ 1,286 ​ ​ 1,372 ​ ​ 14,961 ​ ​ 41,978 Substandard non-accrual ​ ​ 29 ​ ​ 3,659 ​ ​ 713 ​ ​ 541 ​ ​ 804 ​ ​ 690 ​ ​ — ​ ​ 6,436 Total commercial ​ $ 972,237 ​ $ 228,310 ​ $ 167,794 ​ $ 151,219 ​ $ 91,521 ​ $ 127,981 ​ $ 618,892 ​ $ 2,357,954 Commercial real estate: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 315,356 ​ $ 577,080 ​ $ 473,528 ​ $ 496,679 ​ $ 226,747 ​ $ 357,509 ​ $ 29,290 ​ $ 2,476,189 Watch ​ ​ 40,462 ​ ​ 69,029 ​ ​ 44,938 ​ ​ 28,018 ​ ​ 27,333 ​ ​ 23,329 ​ ​ 717 ​ ​ 233,826 Special Mention ​ ​ 12,212 ​ ​ 16,494 ​ ​ 17,895 ​ ​ 14,233 ​ ​ 6,800 ​ ​ 24,553 ​ ​ 1,489 ​ ​ 93,676 Substandard ​ ​ 17,409 ​ ​ 5,862 ​ ​ 3,216 ​ ​ 5,635 ​ ​ 1,863 ​ ​ 329 ​ ​ — ​ ​ 34,314 Substandard non-accrual ​ ​ 300 ​ ​ 1,337 ​ ​ 3,752 ​ ​ 1,496 ​ ​ 391 ​ ​ 1,733 ​ ​ — ​ ​ 9,009 Total commercial real estate ​ $ 385,739 ​ $ 669,802 ​ $ 543,329 ​ $ 546,061 ​ $ 263,134 ​ $ 407,453 ​ $ 31,496 ​ $ 2,847,014 Real estate construction: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 61,660 ​ $ 200,254 ​ $ 122,501 ​ $ 1,535 ​ $ 407 ​ $ 1,299 ​ $ 17,671 ​ $ 405,327 Watch ​ ​ 9,071 ​ ​ 10,092 ​ ​ 2,411 ​ ​ 2,128 ​ ​ 205 ​ ​ ​ ​ ​ ​ ​ ​ 23,907 Special Mention ​ ​ 673 ​ ​ 12 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 685 Substandard ​ ​ 2,600 ​ ​ — ​ ​ 48 ​ ​ 34 ​ ​ 150 ​ ​ — ​ ​ — ​ ​ 2,832 Substandard non-accrual ​ ​ — ​ ​ — ​ ​ 275 ​ ​ — ​ ​ — ​ ​ 5 ​ ​ — ​ ​ 280 Total real estate construction ​ $ 74,004 ​ $ 210,358 ​ $ 125,235 ​ $ 3,697 ​ $ 762 ​ $ 1,304 ​ $ 17,671 ​ $ 433,031 Retail real estate: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 232,130 ​ $ 186,986 ​ $ 172,855 ​ $ 176,644 ​ $ 167,885 ​ $ 340,407 ​ $ 241,737 ​ $ 1,518,644 Watch ​ ​ 1,102 ​ ​ 2,221 ​ ​ 1,943 ​ ​ 333 ​ ​ 986 ​ ​ 722 ​ ​ 4,817 ​ ​ 12,124 Special Mention ​ ​ 526 ​ ​ — ​ ​ 174 ​ ​ — ​ ​ 1,988 ​ ​ 929 ​ ​ — ​ ​ 3,617 Substandard ​ ​ 1,487 ​ ​ 214 ​ ​ 333 ​ ​ 160 ​ ​ 751 ​ ​ 1,216 ​ ​ 452 ​ ​ 4,613 Substandard non-accrual ​ ​ 280 ​ ​ 175 ​ ​ 793 ​ ​ 732 ​ ​ 248 ​ ​ 5,437 ​ ​ 1,552 ​ ​ 9,217 Total retail real estate ​ $ 235,525 ​ $ 189,596 ​ $ 176,098 ​ $ 177,869 ​ $ 171,858 ​ $ 348,711 ​ $ 248,558 ​ $ 1,548,215 Retail other: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 6,101 ​ $ 12,360 ​ $ 8,099 ​ $ 4,079 ​ $ 1,253 ​ $ 1,084 ​ $ 9,677 ​ $ 42,653 Watch ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Special Mention ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Substandard ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Substandard non-accrual ​ ​ 63 ​ ​ 7 ​ ​ — ​ ​ 2 ​ ​ 17 ​ ​ 63 ​ ​ 1 ​ ​ 153 Total retail other ​ $ 6,164 ​ $ 12,367 ​ $ 8,099 ​ $ 4,081 ​ $ 1,270 ​ $ 1,147 ​ $ 9,678 ​ $ 42,806
Summary of restructured loans	A summary of troubled debt restructurings (“TDR”) loans is as follows (dollars in thousands) : ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ ​ December 31, ​ ​ 2020 2019 In compliance with modified terms ​ $ 4,191 ​ $ 5,005 30 — 89 days past due ​ 125 ​ — Included in non-performing loans ​ 1,662 ​ 702 Total ​ $ 5,978 ​ $ 5,707
Schedule of details of impaired loans, segregated by category	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2020 ​ Unpaid Amortized ​ ​ ​ ​ ​ ​ Contractual ​ Cost ​ Amortized ​ Total ​ ​ ​ ​ Average ​ ​ Principal ​ with No ​ Cost ​ Amortized ​ Related ​ Amortized ​ Balance Allowance with Allowance Cost Allowance Cost Commercial ​ $ 11,739 ​ $ 3,186 ​ $ 3,077 ​ $ 6,263 ​ $ 1,248 ​ $ 9,467 Commercial real estate ​ 10,847 ​ ​ 9,105 ​ ​ 1,000 ​ 10,105 ​ 486 ​ 13,583 Real estate construction ​ 576 ​ 559 ​ — ​ 559 ​ — ​ 836 Retail real estate ​ 5,371 ​ 4,705 ​ 474 ​ 5,179 ​ 474 ​ 10,817 Retail other ​ — ​ — ​ — ​ — ​ — ​ 30 Total ​ $ 28,533 ​ $ 17,555 ​ $ 4,551 ​ $ 22,106 ​ $ 2,208 ​ $ 34,733 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ Unpaid Amortized ​ ​ ​ ​ ​ ​ Contractual ​ Cost ​ Amortized ​ Total ​ ​ ​ ​ Average ​ ​ Principal ​ with No ​ Cost ​ Amortized ​ Related ​ Amortized ​ Balance Allowance with Allowance Cost Allowance Cost Commercial ​ $ 14,415 ​ $ 4,727 ​ $ 5,026 ​ $ 9,753 ​ $ 3,330 ​ $ 13,774 Commercial real estate ​ 14,487 ​ ​ 9,883 ​ ​ 2,039 ​ 11,922 ​ 1,049 ​ 16,678 Real estate construction ​ 1,116 ​ 974 ​ — ​ 974 ​ — ​ 873 Retail real estate ​ 15,581 ​ 13,898 ​ 474 ​ 14,372 ​ 474 ​ 14,003 Retail other ​ 87 ​ 58 ​ — ​ 58 ​ — ​ 42 Total ​ $ 45,686 ​ $ 29,540 ​ $ 7,539 ​ $ 37,079 ​ $ 4,853 ​ $ 45,370
Schedule of activity on the allowance for loan losses	The following table details activity in the allowance. Allocation of a portion of the allowance to one category does not preclude its availability to absorb losses in other categories (dollars in thousands) : ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of and for the Three Months Ended June 30, 2020 ​ ​ Commercial Real Estate Retail Real ​ ​ ​ Commercial Real Estate Construction Estate Retail Other Total Beginning balance ​ $ 22,725 ​ $ 35,967 ​ $ 7,193 ​ $ 17,454 ​ $ 1,045 ​ $ 84,384 Provision for credit losses ​ 2,473 ​ 6,861 ​ 574 ​ 2,981 ​ 2 ​ 12,891 Charged-off ​ (1,140) ​ (165) ​ — ​ ​ (292) ​ (105) ​ (1,702) Recoveries ​ 88 ​ 17 ​ 25 ​ 262 ​ 81 ​ 473 Ending balance ​ $ 24,146 ​ $ 42,680 ​ $ 7,792 ​ $ 20,405 ​ $ 1,023 ​ $ 96,046 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of and for the Six Months Ended June 30, 2020 ​ ​ Commercial Real Estate Retail Real ​ ​ ​ Commercial Real Estate Construction Estate Retail Other Total Beginning balance, prior to adoption of ASC 326 ​ $ 18,291 ​ $ 21,190 ​ $ 3,204 ​ $ 10,495 ​ $ 568 ​ $ 53,748 Adoption of ASC 326 ​ ​ 715 ​ ​ 9,306 ​ ​ 2,954 ​ ​ 3,292 ​ ​ 566 ​ ​ 16,833 Provision for credit losses ​ 8,146 ​ 13,387 ​ 1,463 ​ 7,018 ​ 93 ​ 30,107 Charged-off ​ (3,182) ​ (1,264) ​ — ​ ​ (1,000) ​ (404) ​ (5,850) Recoveries ​ 176 ​ 61 ​ 171 ​ 600 ​ 200 ​ 1,208 Ending balance ​ $ 24,146 ​ $ 42,680 ​ $ 7,792 ​ $ 20,405 ​ $ 1,023 ​ $ 96,046 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of and for the Three Months Ended June 30, 2019 ​ ​ Commercial Real Estate Retail Real ​ ​ ​ Commercial Real Estate Construction Estate Retail Other Total Beginning balance ​ $ 17,998 ​ $ 20,097 ​ $ 2,807 ​ $ 9,503 ​ $ 510 ​ $ 50,915 Provision for loan losses ​ 1,161 ​ (97) ​ 411 ​ 941 ​ 101 ​ 2,517 Charged-off ​ (2,563) ​ — ​ — ​ ​ (200) ​ (178) ​ (2,941) Recoveries ​ 137 ​ 188 ​ 87 ​ 369 ​ 103 ​ 884 Ending balance ​ $ 16,733 ​ $ 20,188 ​ $ 3,305 ​ $ 10,613 ​ $ 536 ​ $ 51,375 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of and for the Six Months Ended June 30, 2019 ​ ​ ​ Commercial Real Estate Retail Real ​ ​ ​ ​ Commercial Real Estate Construction Estate Retail Other Total Beginning balance ​ $ 17,829 ​ $ 21,137 ​ $ 2,723 ​ $ 8,471 ​ $ 488 ​ $ 50,648 Provision for loan losses ​ 2,954 ​ (1,186) ​ 413 ​ 2,298 ​ 149 ​ 4,628 Charged-off ​ (4,370) ​ (15) ​ — ​ ​ (717) ​ (308) ​ (5,410) Recoveries ​ 320 ​ 252 ​ 169 ​ 561 ​ 207 ​ 1,509 Ending balance ​ $ 16,733 ​ $ 20,188 ​ $ 3,305 ​ $ 10,613 ​ $ 536 ​ $ 51,375
Schedule of allowance for loan losses and recorded investments in portfolio loans, by category	The following table presents the allowance and amortized cost of portfolio loans by category (dollars in thousands) : ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of June 30, 2020 ​ ​ ​ Commercial Real Estate Retail Real ​ ​ ​ ​ ​ Commercial Real Estate Construction Estate Retail Other Total Allowance ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ending balance attributed to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans individually evaluated for impairment ​ $ 1,248 ​ $ 486 ​ $ — ​ $ 474 ​ $ — ​ $ 2,208 Loans collectively evaluated for impairment ​ 22,898 ​ 42,194 ​ 7,792 ​ 19,931 ​ 1,023 ​ 93,838 Ending balance ​ $ 24,146 ​ $ 42,680 ​ $ 7,792 ​ $ 20,405 ​ $ 1,023 ​ $ 96,046 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans individually evaluated for impairment ​ $ 6,263 ​ $ 10,105 ​ $ 559 ​ $ 5,179 ​ $ — ​ $ 22,106 Loans collectively evaluated for impairment ​ 2,351,687 ​ 2,834,987 ​ ​ 432,217 ​ 1,542,624 ​ 42,806 ​ 7,204,321 PCD loans evaluated for impairment ​ ​ 4 ​ ​ 1,922 ​ ​ 255 ​ ​ 412 ​ ​ — ​ ​ 2,593 Ending balance ​ $ 2,357,954 ​ $ 2,847,014 ​ $ 433,031 ​ $ 1,548,215 ​ $ 42,806 ​ $ 7,229,020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2019 ​ ​ ​ Commercial Real Estate Retail Real ​ ​ ​ ​ ​ Commercial Real Estate Construction Estate Retail Other Total Allowance ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ending balance attributed to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans individually evaluated for impairment ​ $ 3,330 ​ $ 1,049 ​ $ — ​ $ 474 ​ $ — ​ $ 4,853 Loans collectively evaluated for impairment ​ 14,961 ​ 20,141 ​ 3,204 ​ 10,021 ​ 568 ​ 48,895 Ending balance ​ $ 18,291 ​ $ 21,190 ​ $ 3,204 ​ $ 10,495 ​ $ 568 ​ $ 53,748 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans individually evaluated for impairment ​ $ 9,740 ​ $ 10,018 ​ $ 539 ​ $ 13,676 ​ $ 58 ​ $ 34,031 Loans collectively evaluated for impairment ​ 1,738,615 ​ 2,781,495 ​ ​ 400,887 ​ 1,679,397 ​ 49,776 ​ 6,650,170 PCI loans evaluated for impairment ​ ​ 13 ​ ​ 1,904 ​ ​ 435 ​ ​ 696 ​ ​ — ​ ​ 3,048 Ending balance ​ $ 1,748,368 ​ $ 2,793,417 ​ $ 401,861 ​ $ 1,693,769 ​ $ 49,834 ​ $ 6,687,249

Deposits (Tables)

Deposits (Tables)	6 Months Ended
	Jun. 30, 2020
Deposits
Schedule of composition of deposits	The composition of deposits is as follows (dollars in thousands) : ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2020 ​ December 31, 2019 Demand deposits, noninterest-bearing ​ $ 2,764,408 ​ $ 1,832,619 Interest-bearing transaction deposits ​ 2,226,488 ​ 1,989,854 Saving deposits and money market deposits ​ 2,555,273 ​ ​ 2,545,073 Time deposits ​ 1,363,497 ​ 1,534,850 Total ​ $ 8,909,666 ​ $ 7,902,396
Schedule of maturities of time deposits	As of June 30, 2020, the scheduled maturities of time deposits are as follows (dollars in thousands) : ​ ​ ​ ​ ​ July 1, 2020 - June 31, 2021 ​ $ 893,481 July 1, 2021 - June 31, 2022 ​ ​ 291,959 July 1, 2022 - June 31, 2023 ​ 80,966 July 1, 2023 - June 31, 2024 ​ 75,481 July 1, 2024 - June 31, 2025 ​ 21,596 Thereafter ​ 14 ​ $ 1,363,497

Borrowings (Tables)

Borrowings (Tables)	6 Months Ended
	Jun. 30, 2020
Borrowings
Summary of long-term debt	Long-term debt is summarized as follows (dollars in thousands) : ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2020 2019 Notes payable, FHLB, ranging in original maturity from 5 to 10 years , collateralized by FHLB deposits, residential and commercial real estate loans and FHLB stock. ​ $ 35,101 ​ $ 35,600 Term Loan ​ ​ — ​ ​ 48,000 Total long-term borrowings ​ $ 35,101 ​ $ 83,600

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	6 Months Ended
	Jun. 30, 2020
Earnings Per Common Share
Schedule of computation of earnings per common share	Earnings per common share have been computed as follows (in thousands, except per share data) : ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ June 30, ​ June 30, ​ 2020 2019 2020 2019 Net income ​ $ 25,806 ​ $ 24,085 ​ $ 41,170 ​ $ 49,554 Shares: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average common shares outstanding ​ 54,489 ​ 55,638 ​ 54,576 ​ 54,464 Dilutive effect of outstanding options, warrants and restricted stock units as determined by the application of the treasury stock method ​ 216 ​ 303 ​ 231 ​ 300 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average common shares outstanding, as adjusted for diluted earnings per share calculation ​ 54,705 ​ 55,941 ​ 54,807 ​ 54,764 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic earnings per common share ​ $ 0.47 ​ $ 0.43 ​ $ 0.75 ​ $ 0.91 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted earnings per common share ​ $ 0.47 ​ $ 0.43 ​ $ 0.75 ​ $ 0.90

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 30, 2020
Accumulated Other Comprehensive Income (Loss).
Accumulated Other Comprehensive Income (Loss)	The following table represents changes in accumulated other comprehensive income (loss) by component, net of tax, for the periods below (dollars in thousands) : ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ ​ June 30, ​ ​ 2020 ​ ​ 2019 ​ ​ ​ Before Tax ​ Tax Effect ​ Net of Tax ​ ​ Before Tax ​ Tax Effect ​ Net of Tax Unrealized gains (losses) on debt securities available for sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at beginning of period ​ $ 49,722 $ (14,173) $ 35,549 ​ $ 2,235 $ (640) $ 1,595 Unrealized holding gains (losses) on debt securities available for sale, net ​ ​ 5,857 ​ (1,670) ​ 4,187 ​ ​ 18,214 ​ (5,189) ​ 13,025 Unrealized gains on debt securities transferred from held to maturity to available for sale ​ ​ — ​ — ​ — ​ ​ — ​ — ​ — Amounts reclassified from accumulated other comprehensive income, net ​ ​ (143) ​ 41 ​ (102) ​ ​ 10 ​ (3) ​ 7 Balance at end of period ​ $ 55,436 $ (15,802) $ 39,634 ​ $ 20,459 $ (5,832) $ 14,627 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized gains (losses) on cash flow hedges: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at beginning of period ​ $ (3,424) $ 976 $ (2,448) ​ $ — $ — $ — Unrealized holding gains (losses) on cash flow hedges, net ​ ​ (14) ​ 4 ​ (10) ​ ​ — ​ — ​ — Amounts reclassified from accumulated other comprehensive income, net ​ ​ (195) ​ 56 ​ (139) ​ ​ — ​ — ​ — Balance at end of period ​ $ (3,633) $ 1,036 $ (2,597) ​ $ — $ — $ — Total accumulated other comprehensive income (loss) ​ $ 51,803 $ (14,766) $ 37,037 ​ $ 20,459 $ (5,832) $ 14,627 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended ​ ​ ​ June 30, ​ ​ 2020 ​ ​ 2019 ​ ​ ​ Before Tax ​ Tax Effect ​ Net of Tax ​ ​ Before Tax ​ Tax Effect ​ Net of Tax Unrealized gains (losses) on debt securities available for sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at beginning of period ​ $ 21,192 $ (6,032) $ 15,160 ​ $ (9,528) $ 2,716 $ (6,812) Unrealized holding gains (losses) on debt securities available for sale, net ​ ​ 35,943 ​ (10,259) ​ 25,684 ​ ​ 25,014 ​ (7,129) ​ 17,885 Unrealized losses on debt securities transferred from held to maturity to available for sale ​ ​ — ​ — ​ — ​ ​ 4,780 ​ (1,364) ​ 3,416 Amounts reclassified from accumulated other comprehensive income, net ​ ​ (1,699) ​ 489 ​ (1,210) ​ ​ 193 ​ (55) ​ 138 Balance at end of period ​ $ 55,436 ​ (15,802) ​ 39,634 ​ $ 20,459 ​ (5,832) ​ 14,627 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized gains (losses) on cash flow hedges: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at beginning of period ​ $ (280) $ 80 $ (200) ​ $ — $ — $ — Unrealized holding gains (losses) on cash flow hedges, net ​ ​ (3,143) ​ 896 ​ (2,247) ​ ​ — ​ — ​ — Amounts reclassified from accumulated other comprehensive income, net ​ ​ (210) ​ 60 ​ (150) ​ ​ — ​ — ​ — Balance at end of period ​ $ (3,633) ​ 1,036 ​ (2,597) ​ $ — ​ — ​ — Total accumulated other comprehensive income (loss) ​ $ 51,803 ​ (14,766) ​ 37,037 ​ $ 20,459 ​ (5,832) ​ 14,627

Share-based Compensation (Table

Share-based Compensation (Tables)	6 Months Ended
	Jun. 30, 2020
Share-based Compensation
Schedule of status of and changes in the Company's stock option awards	A summary of the status of and changes in the Company's stock option awards for the six months ended June 30, 2020 follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted- ​ Weighted- ​ ​ ​ ​ Average ​ Average ​ ​ ​ ​ Exercise ​ Remaining Contractual ​ Shares Price Term Outstanding at beginning of period 53,185 $ 22.00 ​ ​ Exercised (12,956) ​ 22.73 ​ ​ Forfeited — ​ ​ — ​ ​ Expired (704) ​ 19.98 ​ ​ Outstanding at end of period 39,525 $ 23.53 6.38 Exercisable at end of period 39,525 $ 23.53 6.38
Summary of the changes in company deferred stock units	A summary of the changes in the Company’s stock unit awards for the six months ended June 30, 2020, 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 period 778,317 $ 27.27 21,261 $ 23.18 Granted 3,808 ​ 26.26 — ​ — Dividend equivalents earned 16,167 ​ 20.92 1,912 ​ 20.91 Vested (117,641) ​ 21.38 (23,173) ​ 26.29 Forfeited (13,522) ​ 28.45 — ​ — Non-vested at end of period 667,129 $ 28.13 — $ — Outstanding at end of period 667,129 $ 28.13 69,406 $ 24.47

Outstanding Commitments and C_2

Outstanding Commitments and Contingent Liabilities (Tables)	6 Months Ended
	Jun. 30, 2020
Outstanding Commitments and Contingent Liabilities
Schedule of contractual amount of exposure to off-balance-sheet risk	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 (dollars in thousands) : ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2020 December 31, 2019 Financial instruments whose contract amounts represent credit risk: ​ ​ ​ ​ ​ ​ Commitments to extend credit ​ $ 1,705,344 ​ $ 1,649,565 Standby letters of credit ​ 47,886 ​ 42,581

Regulatory Capital (Tables)

Regulatory Capital (Tables)	6 Months Ended
	Jun. 30, 2020
Regulatory Capital
Schedule of applicable holding company and bank regulatory capital requirements	The following tables summarize the applicable holding company and bank regulatory capital requirements (dollars in thousands) : ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Minimum ​ ​ ​ ​ ​ ​ ​ Minimum ​ ​ To Be Well ​ Actual ​ ​ Capital Requirement ​ ​ Capitalized ​ Amount Ratio ​ Amount Ratio ​ Amount Ratio As of June 30, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Capital (to Risk Weighted Assets) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consolidated $ 1,200,278 16.23 % ​ $ 591,499 8.00 % ​ $ 739,374 10.00 % Busey Bank $ 1,056,068 14.30 % ​ $ 590,746 8.00 % ​ $ 738,433 10.00 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Tier 1 Capital (to Risk Weighted Assets) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consolidated $ 941,243 12.73 % ​ $ 443,624 6.00 % ​ $ 591,499 8.00 % Busey Bank $ 982,033 13.30 % ​ $ 443,060 6.00 % ​ $ 590,746 8.00 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Common Equity Tier 1 Capital (to Risk Weighted Assets) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consolidated $ 867,243 11.73 % ​ $ 332,718 4.50 % ​ $ 480,593 6.50 % Busey Bank $ 982,033 13.30 % ​ $ 332,295 4.50 % ​ $ 479,981 6.50 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Tier 1 Capital (to Average Assets) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consolidated $ 941,243 9.42 % ​ $ 399,631 4.00 % ​ N/A N/A ​ Busey Bank $ 982,033 9.82 % ​ $ 399,926 4.00 % ​ $ 499,907 5.00 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Minimum ​ ​ ​ ​ ​ ​ ​ ​ Minimum ​ ​ To Be Well ​ ​ Actual ​ ​ Capital Requirement ​ ​ Capitalized ​ ​ Amount Ratio ​ Amount Ratio ​ Amount Ratio ​ As of December 31, 2019: ​ ​ Total Capital (to Risk Weighted Assets) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consolidated $ 1,036,143 14.03 % ​ $ 590,826 8.00 % ​ $ 738,532 10.00 % Busey Bank $ 1,099,449 14.92 % ​ $ 589,681 8.00 % ​ $ 737,101 10.00 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Tier 1 Capital (to Risk Weighted Assets) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consolidated $ 922,395 12.49 % ​ $ 443,120 6.00 % ​ $ 590,826 8.00 % Busey Bank $ 1,045,701 14.19 % ​ $ 442,261 6.00 % ​ $ 589,681 8.00 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Common Equity Tier 1 Capital (to Risk Weighted Assets) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consolidated $ 848,395 11.49 % ​ $ 332,340 4.50 % ​ $ 480,046 6.50 % Busey Bank $ 1,045,701 14.19 % ​ $ 331,696 4.50 % ​ $ 479,116 6.50 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Tier 1 Capital (to Average Assets) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consolidated $ 922,395 9.88 % ​ $ 373,360 4.00 % ​ N/A N/A ​ Busey Bank $ 1,045,701 11.19 % ​ $ 373,639 4.00 % ​ $ 467,049 5.00 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Operating Segments and Relate_2

Operating Segments and Related Information (Tables)	6 Months Ended
	Jun. 30, 2020
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 ​ June 30, 2020 December 31, 2019 June 30, 2020 December 31, 2019 Banking ​ $ 288,436 ​ $ 288,436 ​ $ 10,765,956 ​ $ 9,632,368 Remittance Processing ​ 8,992 ​ 8,992 ​ 45,334 ​ 44,209 Wealth Management ​ 14,108 ​ 14,108 ​ 40,361 ​ 32,760 Other ​ — ​ — ​ (15,686) ​ (13,608) Totals ​ $ 311,536 ​ $ 311,536 ​ $ 10,835,965 ​ $ 9,695,729 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, ​ Six Months Ended June 30, ​ 2020 2019 2020 2019 Net interest income: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Banking ​ $ 73,318 ​ $ 75,944 ​ $ 144,891 ​ $ 146,582 Remittance Processing ​ ​ 19 ​ ​ 18 ​ ​ 38 ​ ​ 36 Wealth Management ​ — ​ — ​ — ​ — Other ​ (2,524) ​ (2,534) ​ (4,683) ​ (4,807) Total net interest income ​ $ 70,813 ​ $ 73,428 ​ $ 140,246 ​ $ 141,811 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-interest income: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Banking ​ $ 14,026 ​ $ 15,659 ​ $ 27,194 ​ $ 28,442 Remittance Processing ​ 3,962 ​ 4,117 ​ 8,031 ​ 8,298 Wealth Management ​ 10,310 ​ 9,594 ​ 22,019 ​ 18,727 Other ​ (334) ​ (1,474) ​ (1,763) ​ (1,626) Total non-interest income ​ $ 27,964 ​ $ 27,896 ​ $ 55,481 ​ $ 53,841 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-interest expense: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Banking ​ $ 41,659 ​ $ 56,895 ​ $ 90,174 ​ $ 102,066 Remittance Processing ​ ​ 3,243 ​ ​ 2,589 ​ ​ 6,146 ​ ​ 5,353 Wealth Management ​ ​ 6,254 ​ ​ 5,749 ​ ​ 13,228 ​ ​ 11,313 Other ​ ​ 1,912 ​ ​ 2,787 ​ ​ 4,034 ​ ​ 6,451 Total non-interest expense ​ $ 53,068 ​ $ 68,020 ​ $ 113,582 ​ $ 125,183 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income before income taxes: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Banking ​ $ 32,794 ​ $ 32,191 ​ $ 51,804 ​ $ 68,330 Remittance Processing ​ ​ 738 ​ ​ 1,546 ​ ​ 1,923 ​ ​ 2,981 Wealth Management ​ ​ 4,056 ​ ​ 3,845 ​ ​ 8,791 ​ ​ 7,414 Other ​ ​ (4,770) ​ ​ (6,795) ​ ​ (10,480) ​ ​ (12,884) Total income before income taxes ​ $ 32,818 ​ $ 30,787 ​ $ 52,038 ​ $ 65,841 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Banking ​ $ 25,985 ​ $ 24,441 ​ $ 40,909 ​ $ 51,106 Remittance Processing ​ 528 ​ 1,105 ​ 1,388 ​ 2,130 Wealth Management ​ 3,082 ​ 2,845 ​ 6,681 ​ 5,486 Other ​ (3,789) ​ (4,306) ​ (7,808) ​ (9,168) Total net income ​ $ 25,806 ​ $ 24,085 ​ $ 41,170 ​ $ 49,554

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2020
Summary of the interest-rate swaps designated as cash flow hedges	A summary of the interest-rate swaps designated as cash flow hedges is presented below (dollars in thousands) : ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2020 ​ December 31, 2019 ​ Notional amount ​ $ 70,000 ​ ​ $ 70,000 ​ Weighted average fixed pay rates ​ 1.80 % ​ 1.80 % Weighted average variable 3 month LIBOR receive rates ​ ​ 0.31 % ​ ​ 1.90 % Weighted average maturity ​ ​ 3.36 yrs ​ ​ 3.86 yrs Unrealized gains (losses), net of tax ​ $ (2,597) ​ ​ $ (200) ​
Interest rate swap
Summary of fair values of derivative assets and liabilities recorded in consolidated balance sheet	The fair values of derivative assets and liabilities related to derivatives for customers for interest rate swaps recorded in the unaudited Consolidated Balance Sheets are summarized as follows (dollars in thousands) : ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2020 ​ December 31, 2019 Fair value recorded in other assets ​ $ 38,693 ​ $ 12,354 Fair value recorded in other liabilities ​ ​ 38,693 ​ ​ 12,354
Summary of gross gains and losses on derivative assets and liabilities recorded in non-interest income and expense in consolidated statements of income	The gross gains and losses on these derivative assets and liabilities recorded in non-interest income and non-interest expense in the unaudited Consolidated Statements of Income are summarized as follows (dollars in thousands) : ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, ​ Six Months Ended June 30, ​ ​ 2020 ​ 2019 ​ 2020 ​ 2019 Gross gains ​ $ 2,861 ​ $ 73 ​ $ 26,339 ​ $ 164 Gross losses ​ ​ (2,861) ​ ​ (73) ​ ​ (26,339) ​ ​ (164) Net gains (losses) ​ $ — ​ $ — ​ $ — ​ $ —
Interest rate contract
Summary of gross gains and losses on derivative assets and liabilities recorded in non-interest income and expense in consolidated statements of income	The following table presents the net gains (losses) recorded in accumulated other comprehensive income (loss) and the unaudited Consolidated Statements of Income relating to cash flow derivative instruments for the period presented (dollars in thousands) : ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, 2020 ​ Six Months Ended June 30, 2020 ​ ​ ​ Amount of (gain) loss recognized in OCI ​ ​ ​ Amount of (gain) loss reclassified from OCI to interest income ​ ​ Amount of (gain) loss recognized in OCI ​ ​ Amount of (gain) loss reclassified from OCI to interest income Interest rate contracts ​ $ (10) ​ ​ $ (139) ​ $ (2,247) ​ $ (150)
Interest rate lock commitments and forward sales commitments
Summary of fair values of derivative assets and liabilities recorded in consolidated balance sheet	The fair values of derivative assets and liabilities related to interest rate lock commitments and forward sales commitments recorded in the unaudited Consolidated Balance Sheets are summarized as follows (dollars in thousands) : ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2020 December 31, 2019 Fair value recorded in other assets ​ $ 2,410 ​ $ 1,046 Fair value recorded in other liabilities ​ 4,974 ​ ​ 2,187
Summary of gross gains and losses on derivative assets and liabilities recorded in non-interest income and expense in consolidated statements of income	The gross gains and losses on these derivative assets and liabilities related to interest rate lock commitments and forward sales commitments recorded in non-interest income and expense in the unaudited Consolidated Statements of Income are summarized as follows (dollars in thousands) : ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, Six Months Ended June 30, ​ ​ ​ 2020 ​ ​ 2019 ​ ​ 2020 ​ ​ 2019 Gross gains ​ $ 4,696 ​ $ 1,929 ​ $ 11,366 ​ $ 3,007 Gross (losses) ​ (4,974) ​ ​ (1,949) ​ (12,318) ​ ​ (3,067) Net gains (losses) ​ $ (278) ​ $ (20) ​ $ (952) ​ $ (60)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2020
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, 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 June 30, 2020 Inputs Inputs Inputs Fair Value Debt securities available for sale ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury securities $ — ​ $ 33,236 ​ $ — ​ $ 33,236 Obligations of U.S. government corporations and agencies — ​ 80,044 ​ — ​ 80,044 Obligations of states and political subdivisions — ​ 282,894 ​ — ​ 282,894 Commercial mortgage-backed securities ​ — ​ ​ 241,305 ​ ​ — ​ ​ 241,305 Residential mortgage-backed securities — ​ 970,193 ​ — ​ 970,193 Corporate debt securities — ​ 89,194 ​ — ​ 89,194 Equity securities ​ — ​ 5,126 ​ — ​ 5,126 Loans held for sale ​ — ​ ​ 108,140 ​ ​ — ​ ​ 108,140 Derivative assets ​ — ​ ​ 41,103 ​ ​ — ​ ​ 41,103 Derivative liabilities ​ — ​ ​ 47,300 ​ ​ — ​ ​ 47,300 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Level 1 Level 2 Level 3 Total December 31, 2019 Inputs Inputs Inputs Fair Value Debt securities available for sale ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury securities $ — ​ $ 51,737 ​ $ — ​ $ 51,737 Obligations of U.S. government corporations and agencies — ​ 163,000 ​ — ​ 163,000 Obligations of states and political subdivisions — ​ 268,291 ​ — ​ 268,291 Commercial mortgage-backed securities ​ — ​ ​ 139,287 ​ ​ — ​ ​ 139,287 Residential mortgage-backed securities — ​ 921,966 ​ — ​ 921,966 Corporate debt securities — ​ 103,976 ​ — ​ 103,976 Equity securities ​ — ​ 5,952 ​ — ​ ​ 5,952 Loans held for sale ​ — ​ ​ 68,699 ​ ​ — ​ ​ 68,699 Derivative assets ​ — ​ ​ 13,400 ​ ​ — ​ ​ 13,400 Derivative liabilities ​ — ​ ​ 14,821 ​ ​ — ​ ​ 14,821
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, 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 June 30, 2020 ​ ​ Loans evaluated individually ​ $ — ​ $ — ​ $ 2,343 ​ $ 2,343 OREO ​ — ​ — ​ 55 ​ 55 Bank property held for sale ​ — ​ — ​ 3,594 ​ 3,594 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ ​ ​ ​ Loans evaluated individually ​ $ — ​ $ — ​ $ 2,686 ​ $ 2,686 OREO ​ — ​ — ​ 55 ​ 55 Bank property held for sale ​ ​ — ​ — ​ 4,004 ​ 4,004
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) June 30, 2020 ​ Loans evaluated individually $ 2,343 Appraisal of collateral Appraisal adjustments -11.3% to -100% (-48.5)% OREO 55 Appraisal of collateral Appraisal adjustments -25.0% to -100% (-65.0)% Bank property held for sale ​ 3,594 ​ Appraisal of collateral or real estate listing price ​ Appraisal adjustments ​ -6.2% to -64.9% (-23.9)% ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans evaluated individually $ 2,686 Appraisal of collateral Appraisal adjustments -2.9% to -100% (-57.8)% OREO 55 Appraisal of collateral Appraisal adjustments -25.0% to -100% (-65.0)% Bank property held for sale ​ 4,004 ​ Appraisal of collateral or real estate listing price ​ Appraisal adjustments ​ -6.2% to -71.3% (-40.7)%
Schedule of estimated fair values of financial instruments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quantitative Information about Level 3 Fair Value Measurements ​ Fair Value ​ Valuation ​ Unobservable ​ Range ​ Estimate Techniques Input (Weighted Average) June 30, 2020 ​ Loans evaluated individually $ 2,343 Appraisal of collateral Appraisal adjustments -11.3% to -100% (-48.5)% OREO 55 Appraisal of collateral Appraisal adjustments -25.0% to -100% (-65.0)% Bank property held for sale ​ 3,594 ​ Appraisal of collateral or real estate listing price ​ Appraisal adjustments ​ -6.2% to -64.9% (-23.9)% ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans evaluated individually $ 2,686 Appraisal of collateral Appraisal adjustments -2.9% to -100% (-57.8)% OREO 55 Appraisal of collateral Appraisal adjustments -25.0% to -100% (-65.0)% Bank property held for sale ​ 4,004 ​ Appraisal of collateral or real estate listing price ​ Appraisal adjustments ​ -6.2% to -71.3% (-40.7)%

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2020
Leases
Schedule of lease costs and other lease information	​ The following tables represents lease costs and other lease information for the periods presented (dollars in thousands) : ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, ​ Six Months Ended June 30, Lease Costs 2020 2019 ​ ​ 2020 2019 Operating lease costs $ 635 ​ $ 584 ​ $ 1,255 ​ $ 1,117 Variable lease costs 131 ​ 119 ​ 302 ​ 230 Short-term lease costs ​ 15 ​ ​ 8 ​ ​ 30 ​ ​ 23 Sublease income ​ - ​ ​ - ​ ​ - ​ ​ - Net lease cost $ 781 ​ $ 711 ​ $ 1,587 ​ $ 1,370 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other information ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash paid for amounts included in the measurement of lease liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating lease cash flows – Fixed payments $ 612 ​ $ 570 ​ $ 1,223 ​ $ 1,083 Operating lease cash flows – Liability reduction 534 ​ ​ 490 ​ ​ 1,064 ​ 953 Right of use assets obtained during the period in exchange for operating lease liabilities ​ — ​ ​ 764 ​ ​ 128 ​ ​ 764 Weighted average lease term (in years) ​ 6.44 ​ ​ 6.81 ​ ​ 6.44 ​ ​ 6.81 Weighted average discount rate ​ 3.06% ​ ​ 3.04% ​ ​ 3.06% ​ ​ 3.04% ​
Schedule of future rent commitments	Rent commitments were as follows (dollars in thousands) : ​ ​ ​ ​ ​ ​ Six Months Ended ​ ​ June 30, 2020 Remainder of 2020 $ 1,218 2021 1,814 2022 ​ 1,411 2023 ​ 1,254 2024 ​ 1,022 Thereafter ​ 2,876 Amounts representing interest ​ (994) Present value of net future minimum lease payments $ 8,601

Significant Accounting Polici_4

Significant Accounting Policies - Impacts of COVID-19 (Details) $ in Millions	Jun. 01, 2020USD ($)	Jun. 30, 2020USD ($)customer
Paycheck Protection Program
Paycheck Protection Program ("PPP")
Loans outstanding		$ 746.4
Amortized cost of the loans outstanding		$ 729.3
New and existing customers | customer		4,445
Loans outstanding, fees received		$ 25
Incurred incremental direct origination costs		4.9
Net interest income		3
5.25% fixed-to-floating rate notes due 2030 | Subordinated debt
Impacts of COVID-19
Proceeds from public offering	$ 125	$ 125
Interest rate (as a percent)		5.25%

Significant Accounting Polici_5

Significant Accounting Policies - Subsequent Events (Details) - Center	3 Months Ended
	Dec. 31, 2020	Sep. 30, 2020
Subsequent event
Subsequent Event [Line Items]
Number of banking centers consolidated	12	12

Significant Accounting Polici_6

Significant Accounting Policies - Impact of new financial accounting standards (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Jan. 01, 2020	Dec. 31, 2019
Recently Issued Accounting Standards
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]		true
Cumulative Effect of New Accounting Principle in Period of Adoption	$ (15,922)
Right of use asset	8,511		$ 9,490
Lease liability	$ 8,601		$ 9,552
Allowance for credit losses on loans
Recently Issued Accounting Standards
Cumulative Effect of New Accounting Principle in Period of Adoption		$ 12,000
Post ASC 326
Recently Issued Accounting Standards
Cumulative Effect of New Accounting Principle in Period of Adoption		(15,900)
Post ASC 326 | Reserve for off-balance-sheet credit exposures
Recently Issued Accounting Standards
Cumulative Effect of New Accounting Principle in Period of Adoption		$ 3,900

Significant Accounting Polici_7

Significant Accounting Policies - Impact of Topic 326 (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Jan. 01, 2020
Allowance-debt securities available for sale
Accrued interest receivable for debt securities available for sale debt	$ 6,100
Accounting Standards Update 2016-13
Assets
Portfolio Loans, allowance for loan losses (in dollars)		$ 16,833
Liabilities
Reserve for off-balance-sheet credit exposures		5,492
Post ASC 326 | Accounting Standards Update 2016-13
Assets
Portfolio Loans, allowance for loan losses (in dollars)		70,581
Liabilities
Reserve for off-balance-sheet credit exposures		5,492
Pre-ASC 326 | Accounting Standards Update 2016-13
Assets
Portfolio Loans, allowance for loan losses (in dollars)		53,748
Commercial Loans | Accounting Standards Update 2016-13
Assets
Portfolio Loans, allowance for loan losses (in dollars)		715
Commercial Loans | Post ASC 326 | Accounting Standards Update 2016-13
Assets
Portfolio Loans, allowance for loan losses (in dollars)		19,006
Commercial Loans | Pre-ASC 326 | Accounting Standards Update 2016-13
Assets
Portfolio Loans, allowance for loan losses (in dollars)		18,291
Commercial Real Estate Loans | Accounting Standards Update 2016-13
Assets
Portfolio Loans, allowance for loan losses (in dollars)		9,306
Commercial Real Estate Loans | Post ASC 326 | Accounting Standards Update 2016-13
Assets
Portfolio Loans, allowance for loan losses (in dollars)		30,496
Commercial Real Estate Loans | Pre-ASC 326 | Accounting Standards Update 2016-13
Assets
Portfolio Loans, allowance for loan losses (in dollars)		21,190
Real Estate Construction | Accounting Standards Update 2016-13
Assets
Portfolio Loans, allowance for loan losses (in dollars)		2,954
Real Estate Construction | Post ASC 326 | Accounting Standards Update 2016-13
Assets
Portfolio Loans, allowance for loan losses (in dollars)		6,158
Real Estate Construction | Pre-ASC 326 | Accounting Standards Update 2016-13
Assets
Portfolio Loans, allowance for loan losses (in dollars)		3,204
Retail Real Estate | Accounting Standards Update 2016-13
Assets
Portfolio Loans, allowance for loan losses (in dollars)		3,292
Retail Real Estate | Post ASC 326 | Accounting Standards Update 2016-13
Assets
Portfolio Loans, allowance for loan losses (in dollars)		13,787
Retail Real Estate | Pre-ASC 326 | Accounting Standards Update 2016-13
Assets
Portfolio Loans, allowance for loan losses (in dollars)		10,495
Retail Other | Accounting Standards Update 2016-13
Assets
Portfolio Loans, allowance for loan losses (in dollars)		566
Retail Other | Post ASC 326 | Accounting Standards Update 2016-13
Assets
Portfolio Loans, allowance for loan losses (in dollars)		1,134
Retail Other | Pre-ASC 326 | Accounting Standards Update 2016-13
Assets
Portfolio Loans, allowance for loan losses (in dollars)		$ 568

Acquisitions - The Banc Ed Corp

Acquisitions - The Banc Ed Corp. (Details) $ / shares in Units, $ in Thousands, shares in Millions	Aug. 21, 2019$ / shares	Jan. 31, 2019USD ($)$ / sharesshares	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)$ / shares	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)$ / shares	Dec. 31, 2019USD ($)
Consideration paid
Goodwill			$ 311,536		$ 311,536		$ 311,536
Banc Ed
Merger agreement
Share consideration conversion ratio	8.2067
Per share cash consideration entitled (in dollars per share) | $ / shares	$ 111.53
Number of common shares issued for acquisition | shares		6.7
Market value of common stock issued		$ 166,500
Common stock		$ 166,515
Share price | $ / shares		$ 24.76
Goodwill acquired		$ 41,400
Business acquisition expenses				$ 4,000		$ 5,000
Assets acquired:
Cash and cash equivalents		42,013
Securities		692,716
Loans held for sale		2,157
Portfolio loans		873,336
Premises and equipment		32,156
Other intangible assets		32,617
Mortgage servicing rights		6,946
Other assets		57,332
Total assets acquired		1,739,273
Liabilities assumed:
Deposits		1,439,203
Other borrowings		63,439
Other liabilities		20,153
Total liabilities assumed		1,522,795
Net assets acquired		216,478
Consideration paid
Cash		91,400
Common stock		166,515
Total consideration paid		257,915
Goodwill		$ 41,437
Banc Ed | Pro Forma
Consideration paid
Total revenues (net interest income plus non-interest income)				101,324		201,976
Net income				$ 26,947		$ 54,337
Diluted earnings per common share (in dollars per share) | $ / shares				$ 0.48		$ 0.97
IST | Non-interest expense
Merger agreement
Business acquisition expenses			$ 100	$ 100	$ 300	$ 300

Securities - General Disclosure

Securities - General Disclosures (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Debt Securities
Equity securities consisting of common stock and money market mutual funds, fair value	$ 5,126,000		$ 5,126,000		$ 5,952,000
Unrealized gains (losses) recognized on equity securities	190,000	$ (1,016,000)	(797,000)	$ (800,000)
Debt securities available for sale
Amortized Cost	1,641,429,000		1,641,429,000		1,627,065,000
Gross Unrealized Gains	55,695,000		55,695,000		22,021,000
Gross Unrealized Losses	(258,000)		(258,000)		(829,000)
Fair Value	1,696,866,000		1,696,866,000		1,648,257,000
Debt securities available for sale, Amortized Cost
Due in one year or less	132,192,000		132,192,000
Due after one year through five years	241,337,000		241,337,000
Due after five years through ten years	241,496,000		241,496,000
Due after ten years	1,026,404,000		1,026,404,000
Amortized Cost	1,641,429,000		1,641,429,000		1,627,065,000
Debt securities available for sale, Fair Value
Due in one year or less	133,749,000		133,749,000
Due after one year through five years	250,413,000		250,413,000
Due after five years through ten years	252,566,000		252,566,000
Due after ten years	1,060,138,000		1,060,138,000
Fair Value	1,696,866,000		1,696,866,000		1,648,257,000
Realized gains and losses related to sales and calls of securities AFS
Gross security gains	146,000	391,000	1,707,000	391,000
Gross security (losses)	(3,000)	(400,000)	(8,000)	(583,000)
Net gains (losses) on sales of securities	143,000	$ (9,000)	1,699,000	$ (192,000)
Debt securities available for sale, Fair Value
Continuous unrealized losses existing for less than 12 months, gross	57,095,000		57,095,000		122,991,000
Continuous unrealized losses existing for greater than 12 months, gross	937,000		937,000		53,851,000
Total, gross	58,032,000		58,032,000		176,842,000
Debt securities available for sale, Unrealized Losses
Continuous unrealized losses existing for less than 12 months, gross	(254,000)		(254,000)		(448,000)
Continuous unrealized losses existing greater than 12 months, gross	(4,000)		(4,000)		(381,000)
Total, gross	$ (258,000)		$ (258,000)		(829,000)
Security portfolio evaluated for other-than-temporary impairment	1,106		1,106
Number of securities in unrealized loss position	24		24
Securities in unrealized loss position as a percentage of aggregate carrying value of investments	0.45%		0.45%
Collateral
Realized gains and losses related to sales and calls of securities AFS
Carrying amount of investment securities pledged as collateral	$ 638,100,000		$ 638,100,000		704,400,000
U.S. Treasury securities
Debt securities available for sale
Amortized Cost	32,597,000		32,597,000		51,472,000
Gross Unrealized Gains	639,000		639,000		265,000
Fair Value	33,236,000		33,236,000		51,737,000
Debt securities available for sale, Amortized Cost
Amortized Cost	32,597,000		32,597,000		51,472,000
Debt securities available for sale, Fair Value
Fair Value	33,236,000		33,236,000		51,737,000
Obligations of U.S. government corporations and agencies
Debt securities available for sale
Amortized Cost	77,349,000		77,349,000		160,364,000
Gross Unrealized Gains	2,752,000		2,752,000		2,684,000
Gross Unrealized Losses	(57,000)		(57,000)		(48,000)
Fair Value	80,044,000		80,044,000		163,000,000
Debt securities available for sale, Amortized Cost
Amortized Cost	77,349,000		77,349,000		160,364,000
Debt securities available for sale, Fair Value
Fair Value	80,044,000		80,044,000		163,000,000
Debt securities available for sale, Fair Value
Continuous unrealized losses existing for less than 12 months, gross	5,648,000		5,648,000		6,362,000
Total, gross	5,648,000		5,648,000		6,362,000
Debt securities available for sale, Unrealized Losses
Continuous unrealized losses existing for less than 12 months, gross	(57,000)		(57,000)		(48,000)
Total, gross	(57,000)		(57,000)		(48,000)
Obligations of states and political subdivisions
Debt securities available for sale
Amortized Cost	272,885,000		272,885,000		262,492,000
Gross Unrealized Gains	10,047,000		10,047,000		5,810,000
Gross Unrealized Losses	(38,000)		(38,000)		(11,000)
Fair Value	282,894,000		282,894,000		268,291,000
Debt securities available for sale, Amortized Cost
Amortized Cost	272,885,000		272,885,000		262,492,000
Debt securities available for sale, Fair Value
Fair Value	282,894,000		282,894,000		268,291,000
Debt securities available for sale, Fair Value
Continuous unrealized losses existing for less than 12 months, gross	6,432,000		6,432,000		4,981,000
Continuous unrealized losses existing for greater than 12 months, gross					1,548,000
Total, gross	6,432,000		6,432,000		6,529,000
Debt securities available for sale, Unrealized Losses
Continuous unrealized losses existing for less than 12 months, gross	(38,000)		(38,000)		(11,000)
Total, gross	(38,000)		(38,000)		(11,000)
Commercial mortgage-backed securities
Debt securities available for sale
Amortized Cost	230,352,000		230,352,000		137,733,000
Gross Unrealized Gains	10,956,000		10,956,000		1,700,000
Gross Unrealized Losses	(3,000)		(3,000)		(146,000)
Fair Value	241,305,000		241,305,000		139,287,000
Debt securities available for sale, Amortized Cost
Amortized Cost	230,352,000		230,352,000		137,733,000
Debt securities available for sale, Fair Value
Fair Value	241,305,000		241,305,000		139,287,000
Debt securities available for sale, Fair Value
Continuous unrealized losses existing for less than 12 months, gross	4,963,000		4,963,000		33,322,000
Continuous unrealized losses existing for greater than 12 months, gross					2,044,000
Total, gross	4,963,000		4,963,000		35,366,000
Debt securities available for sale, Unrealized Losses
Continuous unrealized losses existing for less than 12 months, gross	(3,000)		(3,000)		(144,000)
Continuous unrealized losses existing greater than 12 months, gross					(2,000)
Total, gross	(3,000)		(3,000)		(146,000)
Residential mortgage-backed securities
Debt securities available for sale
Amortized Cost	940,842,000		940,842,000		912,308,000
Gross Unrealized Gains	29,475,000		29,475,000		10,282,000
Gross Unrealized Losses	(124,000)		(124,000)		(624,000)
Fair Value	970,193,000		970,193,000		921,966,000
Debt securities available for sale, Amortized Cost
Amortized Cost	940,842,000		940,842,000		912,308,000
Debt securities available for sale, Fair Value
Fair Value	970,193,000		970,193,000		921,966,000
Debt securities available for sale, Fair Value
Continuous unrealized losses existing for less than 12 months, gross	35,830,000		35,830,000		78,326,000
Continuous unrealized losses existing for greater than 12 months, gross	937,000		937,000		50,259,000
Total, gross	36,767,000		36,767,000		128,585,000
Debt securities available for sale, Unrealized Losses
Continuous unrealized losses existing for less than 12 months, gross	(120,000)		(120,000)		(245,000)
Continuous unrealized losses existing greater than 12 months, gross	(4,000)		(4,000)		(379,000)
Total, gross	(124,000)		(124,000)		(624,000)
Corporate debt securities
Debt securities available for sale
Amortized Cost	87,404,000		87,404,000		102,696,000
Gross Unrealized Gains	1,826,000		1,826,000		1,280,000
Gross Unrealized Losses	(36,000)		(36,000)
Fair Value	89,194,000		89,194,000		103,976,000
Debt securities available for sale, Amortized Cost
Amortized Cost	87,404,000		87,404,000		102,696,000
Debt securities available for sale, Fair Value
Fair Value	89,194,000		89,194,000		$ 103,976,000
Debt securities available for sale, Fair Value
Continuous unrealized losses existing for less than 12 months, gross	4,222,000		4,222,000
Total, gross	4,222,000		4,222,000
Debt securities available for sale, Unrealized Losses
Continuous unrealized losses existing for less than 12 months, gross	(36,000)		(36,000)
Total, gross	$ (36,000)		$ (36,000)

Portfolio loans - Distribution

Portfolio loans - Distribution of portfolio loans (Details) - USD ($)	3 Months Ended		6 Months Ended	12 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018
Distributions of portfolio loans
Portfolio loans	$ 7,229,020,000		$ 7,229,020,000	$ 6,687,249,000
Allowance for loan losses	(96,046,000)	$ (84,384,000)	(96,046,000)	(53,748,000)	$ (51,375,000)	$ (50,915,000)	$ (50,648,000)
Portfolio loans, net	7,132,974,000		7,132,974,000	6,633,501,000
Net deferred loan origination costs	11,100,000		11,100,000	6,200,000
Net accretable purchase accounting adjustments			15,500,000	20,200,000
Commercial Loans
Distributions of portfolio loans
Portfolio loans	2,357,954,000		2,357,954,000	1,748,368,000
Allowance for loan losses	(24,146,000)	(22,725,000)	(24,146,000)	(18,291,000)	(16,733,000)	(17,998,000)	(17,829,000)
Commercial Real Estate Loans
Distributions of portfolio loans
Portfolio loans	2,847,014,000		2,847,014,000	2,793,417,000
Allowance for loan losses	(42,680,000)	(35,967,000)	(42,680,000)	(21,190,000)	(20,188,000)	(20,097,000)	(21,137,000)
Real Estate Construction
Distributions of portfolio loans
Portfolio loans	433,031,000		433,031,000	401,861,000
Allowance for loan losses	(7,792,000)	(7,193,000)	(7,792,000)	(3,204,000)	(3,305,000)	(2,807,000)	(2,723,000)
Retail Real Estate
Distributions of portfolio loans
Portfolio loans	1,548,215,000		1,548,215,000	1,693,769,000
Allowance for loan losses	(20,405,000)	(17,454,000)	(20,405,000)	(10,495,000)	(10,613,000)	(9,503,000)	(8,471,000)
Loans purchased	0	43,900,000
Retail Other
Distributions of portfolio loans
Portfolio loans	42,806,000		42,806,000	49,834,000
Allowance for loan losses	(1,023,000)	$ (1,045,000)	(1,023,000)	$ (568,000)	$ (536,000)	$ (510,000)	$ (488,000)
Paycheck Protection Program
Distributions of portfolio loans
Amortized cost of the loans outstanding	$ 729,300,000		$ 729,300,000

Portfolio loans - Narrative (De

Portfolio loans - Narrative (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020USD ($)loan	Jun. 30, 2019USD ($)loan	Jun. 30, 2020USD ($)loan	Jun. 30, 2019USD ($)loan
Distributions of portfolio loans
Gross interest income that would have been recorded if impaired loans had been current	$ 400	$ 400	$ 900	$ 1,100
TDRs subsequently classified as non-performing and had payment defaults | loan	0		0
Commercial Real Estate Loans
Distributions of portfolio loans
Loans classified as a TDR		$ 3,200		$ 3,200
TDRs subsequently classified as non-performing and had payment defaults | loan		1		1
Retail Real Estate
Distributions of portfolio loans
Loans in the process of foreclosure			$ 1,300
Maximum | Commercial Real Estate Loans
Distributions of portfolio loans
Limit where loans are processed through an expedited underwriting process			1,000
Watch | Commercial Loans
Distributions of portfolio loans
Limit above which loans are annually reviewed			1,000
Special Mention
Distributions of portfolio loans
Limit above which loans are annually reviewed			350
In compliance with modified terms | Commercial Loans
Distributions of portfolio loans
Loans classified as a TDR		$ 600		$ 600
Performing loans classified as TDRs | loan		1		1
In compliance with modified terms | Retail Real Estate
Distributions of portfolio loans
Loans classified as a TDR	$ 200		$ 200
Performing loans classified as TDRs | loan	1		1

Portfolio loans - Summary of ri

Portfolio loans - Summary of risk grades segregated by category (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Loans
Portfolio loans	$ 7,229,020	$ 6,687,249
Pass
Loans
Portfolio loans	6,521,097	5,997,126
Watch
Loans
Portfolio loans	406,674	413,876
Special Mention
Loans
Portfolio loans	192,417	181,107
Substandard
Loans
Portfolio loans	83,737	75,215
Substandard Non-accrual
Loans
Portfolio loans	25,095	27,896
Commercial
Loans
Portfolio loans	2,357,954
Commercial | Pass
Loans
Portfolio loans	2,078,284	1,458,416
Commercial | Watch
Loans
Portfolio loans	136,817	172,526
Commercial | Special Mention
Loans
Portfolio loans	94,439	66,337
Commercial | Substandard
Loans
Portfolio loans	41,978	41,273
Commercial | Substandard Non-accrual
Loans
Portfolio loans	6,436	9,096
Commercial real estate
Loans
Portfolio loans	2,847,014
Commercial real estate | Pass
Loans
Portfolio loans	2,476,189	2,477,398
Commercial real estate | Watch
Loans
Portfolio loans	233,826	186,963
Commercial real estate | Special Mention
Loans
Portfolio loans	93,676	105,487
Commercial real estate | Substandard
Loans
Portfolio loans	34,314	26,204
Commercial real estate | Substandard Non-accrual
Loans
Portfolio loans	9,009	9,178
Real estate construction
Loans
Portfolio loans	433,031
Real estate construction | Pass
Loans
Portfolio loans	405,327	351,923
Real estate construction | Watch
Loans
Portfolio loans	23,907	45,262
Real estate construction | Special Mention
Loans
Portfolio loans	685	3,928
Real estate construction | Substandard
Loans
Portfolio loans	2,832	737
Real estate construction | Substandard Non-accrual
Loans
Portfolio loans	280	630
Retail Real Estate
Loans
Portfolio loans	1,548,215
Retail Real Estate | Pass
Loans
Portfolio loans	1,518,644	1,661,691
Retail Real Estate | Watch
Loans
Portfolio loans	12,124	9,125
Retail Real Estate | Special Mention
Loans
Portfolio loans	3,617	5,355
Retail Real Estate | Substandard
Loans
Portfolio loans	4,613	7,001
Retail Real Estate | Substandard Non-accrual
Loans
Portfolio loans	9,217	8,935
Retail Other
Loans
Portfolio loans	42,806
Retail Other | Pass
Loans
Portfolio loans	42,653	47,698
Retail Other | Substandard Non-accrual
Loans
Portfolio loans	153	57
Commercial Loans
Loans
Portfolio loans	2,357,954	1,748,368
Commercial Real Estate Loans
Loans
Portfolio loans	2,847,014	2,793,417
Real Estate Construction
Loans
Portfolio loans	433,031	401,861
Retail Real Estate
Loans
Portfolio loans	1,548,215	1,693,769
Retail Other
Loans
Portfolio loans	$ 42,806	$ 49,834

Portfolio loans - Risk grades o

Portfolio loans - Risk grades of portfolio loans by origination year (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Loans
Ending balance	$ 7,229,020	$ 6,687,249
Pass
Loans
Ending balance	6,521,097	5,997,126
Watch
Loans
Ending balance	406,674	413,876
Special Mention
Loans
Ending balance	192,417	181,107
Substandard
Loans
Ending balance	83,737	75,215
Substandard Non-accrual
Loans
Ending balance	25,095	27,896
Commercial
Loans
2020	972,237
2019	228,310
2018	167,794
2017	151,219
2016	91,521
Prior	127,981
Revolving loans	618,892
Ending balance	2,357,954
Commercial | Pass
Loans
2020	931,544
2019	193,072
2018	139,275
2017	129,906
2016	79,484
Prior	94,852
Revolving loans	510,151
Ending balance	2,078,284	1,458,416
Commercial | Watch
Loans
2020	23,426
2019	22,915
2018	20,322
2017	8,145
2016	3,017
Prior	15,488
Revolving loans	43,504
Ending balance	136,817	172,526
Commercial | Special Mention
Loans
2020	5,947
2019	5,442
2018	3,226
2017	7,039
2016	6,930
Prior	15,579
Revolving loans	50,276
Ending balance	94,439	66,337
Commercial | Substandard
Loans
2020	11,291
2019	3,222
2018	4,258
2017	5,588
2016	1,286
Prior	1,372
Revolving loans	14,961
Ending balance	41,978	41,273
Commercial | Substandard Non-accrual
Loans
2020	29
2019	3,659
2018	713
2017	541
2016	804
Prior	690
Ending balance	6,436	9,096
Commercial real estate
Loans
2020	385,739
2019	669,802
2018	543,329
2017	546,061
2016	263,134
Prior	407,453
Revolving loans	31,496
Ending balance	2,847,014
Commercial real estate | Pass
Loans
2020	315,356
2019	577,080
2018	473,528
2017	496,679
2016	226,747
Prior	357,509
Revolving loans	29,290
Ending balance	2,476,189	2,477,398
Commercial real estate | Watch
Loans
2020	40,462
2019	69,029
2018	44,938
2017	28,018
2016	27,333
Prior	23,329
Revolving loans	717
Ending balance	233,826	186,963
Commercial real estate | Special Mention
Loans
2020	12,212
2019	16,494
2018	17,895
2017	14,233
2016	6,800
Prior	24,553
Revolving loans	1,489
Ending balance	93,676	105,487
Commercial real estate | Substandard
Loans
2020	17,409
2019	5,862
2018	3,216
2017	5,635
2016	1,863
Prior	329
Ending balance	34,314	26,204
Commercial real estate | Substandard Non-accrual
Loans
2020	300
2019	1,337
2018	3,752
2017	1,496
2016	391
Prior	1,733
Ending balance	9,009	9,178
Real estate construction
Loans
2020	74,004
2019	210,358
2018	125,235
2017	3,697
2016	762
Prior	1,304
Revolving loans	17,671
Ending balance	433,031
Real estate construction | Pass
Loans
2020	61,660
2019	200,254
2018	122,501
2017	1,535
2016	407
Prior	1,299
Revolving loans	17,671
Ending balance	405,327	351,923
Real estate construction | Watch
Loans
2020	9,071
2019	10,092
2018	2,411
2017	2,128
2016	205
Ending balance	23,907	45,262
Real estate construction | Special Mention
Loans
2020	673
2019	12
Ending balance	685	3,928
Real estate construction | Substandard
Loans
2020	2,600
2018	48
2017	34
2016	150
Ending balance	2,832	737
Real estate construction | Substandard Non-accrual
Loans
2018	275
Prior	5
Ending balance	280	630
Retail Real Estate
Loans
2020	235,525
2019	189,596
2018	176,098
2017	177,869
2016	171,858
Prior	348,711
Revolving loans	248,558
Ending balance	1,548,215
Retail Real Estate | Pass
Loans
2020	232,130
2019	186,986
2018	172,855
2017	176,644
2016	167,885
Prior	340,407
Revolving loans	241,737
Ending balance	1,518,644	1,661,691
Retail Real Estate | Watch
Loans
2020	1,102
2019	2,221
2018	1,943
2017	333
2016	986
Prior	722
Revolving loans	4,817
Ending balance	12,124	9,125
Retail Real Estate | Special Mention
Loans
2020	526
2018	174
2016	1,988
Prior	929
Ending balance	3,617	5,355
Retail Real Estate | Substandard
Loans
2020	1,487
2019	214
2018	333
2017	160
2016	751
Prior	1,216
Revolving loans	452
Ending balance	4,613	7,001
Retail Real Estate | Substandard Non-accrual
Loans
2020	280
2019	175
2018	793
2017	732
2016	248
Prior	5,437
Revolving loans	1,552
Ending balance	9,217	8,935
Retail Other
Loans
2020	6,164
2019	12,367
2018	8,099
2017	4,081
2016	1,270
Prior	1,147
Revolving loans	9,678
Ending balance	42,806
Retail Other | Pass
Loans
2020	6,101
2019	12,360
2018	8,099
2017	4,079
2016	1,253
Prior	1,084
Revolving loans	9,677
Ending balance	42,653	47,698
Retail Other | Substandard Non-accrual
Loans
2020	63
2019	7
2017	2
2016	17
Prior	63
Revolving loans	1
Ending balance	153	57
Commercial Loans
Loans
Ending balance	2,357,954	1,748,368
Commercial Real Estate Loans
Loans
Ending balance	2,847,014	2,793,417
Real Estate Construction
Loans
Ending balance	433,031	401,861
Retail Real Estate
Loans
Ending balance	1,548,215	1,693,769
Retail Other
Loans
Ending balance	$ 42,806	$ 49,834

Portfolio loans - Analysis of l

Portfolio loans - Analysis of loans past due and still accruing or non-accrual status (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Loans past due
90+Days	$ 285	$ 1,611
Non-accrual Loans	25,095	27,896
30 to 59 Days
Loans past due
Loans past due, still accruing	3,910	8,820
60 to 89 Days
Loans past due
Loans past due, still accruing	1,256	5,451
Commercial
Loans past due
90+Days		199
Non-accrual Loans	6,436	9,096
Commercial | 30 to 59 Days
Loans past due
Loans past due, still accruing	41	1,075
Commercial | 60 to 89 Days
Loans past due
Loans past due, still accruing	35	1,014
Commercial real estate
Loans past due
90+Days		584
Non-accrual Loans	9,009	9,178
Commercial real estate | 30 to 59 Days
Loans past due
Loans past due, still accruing	117	2,653
Commercial real estate | 60 to 89 Days
Loans past due
Loans past due, still accruing	242	3,121
Real estate construction
Loans past due
Non-accrual Loans	280	630
Real estate construction | 30 to 59 Days
Loans past due
Loans past due, still accruing		19
Retail Real Estate
Loans past due
90+Days	271	828
Non-accrual Loans	9,217	8,935
Retail Real Estate | 30 to 59 Days
Loans past due
Loans past due, still accruing	3,681	5,021
Retail Real Estate | 60 to 89 Days
Loans past due
Loans past due, still accruing	943	1,248
Retail Other
Loans past due
90+Days	14
Non-accrual Loans	153	57
Retail Other | 30 to 59 Days
Loans past due
Loans past due, still accruing	71	52
Retail Other | 60 to 89 Days
Loans past due
Loans past due, still accruing	$ 36	$ 68

Portfolio loans - Summary of TD

Portfolio loans - Summary of TDR loans (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Restructured loans
Total loans	$ 5,978	$ 5,707
In compliance with modified terms
Restructured loans
Total loans	4,191	5,005
30-89 days past due
Restructured loans
Total loans	125
Included in non-performing loans
Restructured loans
Total loans	$ 1,662	$ 702

Portfolio loans - Loans identif

Portfolio loans - Loans identified as impaired, segregated by category (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Loans identified as impaired
Unpaid Contractual Principal Balance	$ 28,533	$ 45,686
Recorded Investment with No Allowance	17,555	29,540
Recorded Investment with Allowance	4,551	7,539
Total Recorded Investment	22,106	37,079
Related Allowance	2,208	4,853
Average Recorded Investment	34,733	45,370
Collateral dependent loans secured by real estate or business assets	17,300
Commercial Loans
Loans identified as impaired
Unpaid Contractual Principal Balance	11,739	14,415
Recorded Investment with No Allowance	3,186	4,727
Recorded Investment with Allowance	3,077	5,026
Total Recorded Investment	6,263	9,753
Related Allowance	1,248	3,330
Average Recorded Investment	9,467	13,774
Commercial Real Estate Loans
Loans identified as impaired
Unpaid Contractual Principal Balance	10,847	14,487
Recorded Investment with No Allowance	9,105	9,883
Recorded Investment with Allowance	1,000	2,039
Total Recorded Investment	10,105	11,922
Related Allowance	486	1,049
Average Recorded Investment	13,583	16,678
Real Estate Construction
Loans identified as impaired
Unpaid Contractual Principal Balance	576	1,116
Recorded Investment with No Allowance	559	974
Total Recorded Investment	559	974
Average Recorded Investment	836	873
Retail Real Estate
Loans identified as impaired
Unpaid Contractual Principal Balance	5,371	15,581
Recorded Investment with No Allowance	4,705	13,898
Recorded Investment with Allowance	474	474
Total Recorded Investment	5,179	14,372
Related Allowance	474	474
Average Recorded Investment	10,817	14,003
Retail Other
Loans identified as impaired
Unpaid Contractual Principal Balance		87
Recorded Investment with No Allowance		58
Total Recorded Investment		58
Average Recorded Investment	$ 30	$ 42

Portfolio loans - Activity in t

Portfolio loans - Activity in the allowance for loan losses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Dec. 31, 2019
Activity in the allowance for loan losses
Beginning balance	$ 84,384	$ 50,915	$ 53,748	$ 50,648
Provision for loan losses	12,891	2,517	30,107	4,628
Charged-off	(1,702)	(2,941)	(5,850)	(5,410)
Recoveries	473	884	1,208	1,509
Ending balance	96,046	51,375	96,046	51,375
Allowance for loan losses Ending balance attributed to:
Loans individually evaluated for impairment					$ 2,208	$ 4,853
Loans collectively evaluated for impairment					93,838	48,895
Ending balance	84,384	51,375	53,748	51,375	96,046	53,748
Loans:
Loans individually evaluated for impairment					22,106	34,031
Loans collectively evaluated for impairment					7,204,321	6,650,170
PCI loans evaluated for impairment					2,593	3,048
Ending balance					7,229,020	6,687,249
Commercial Loans
Activity in the allowance for loan losses
Beginning balance	22,725	17,998	18,291	17,829
Provision for loan losses	2,473	1,161	8,146	2,954
Charged-off	(1,140)	(2,563)	(3,182)	(4,370)
Recoveries	88	137	176	320
Ending balance	24,146	16,733	24,146	16,733
Allowance for loan losses Ending balance attributed to:
Loans individually evaluated for impairment					1,248	3,330
Loans collectively evaluated for impairment					22,898	14,961
Ending balance	24,146	16,733	18,291	17,829	24,146	18,291
Loans:
Loans individually evaluated for impairment					6,263	9,740
Loans collectively evaluated for impairment					2,351,687	1,738,615
PCI loans evaluated for impairment					4	13
Ending balance					2,357,954	1,748,368
Commercial Real Estate Loans
Activity in the allowance for loan losses
Beginning balance	35,967	20,097	21,190	21,137
Provision for loan losses	6,861	(97)	13,387	(1,186)
Charged-off	(165)		(1,264)	(15)
Recoveries	17	188	61	252
Ending balance	42,680	20,188	42,680	20,188
Allowance for loan losses Ending balance attributed to:
Loans individually evaluated for impairment					486	1,049
Loans collectively evaluated for impairment					42,194	20,141
Ending balance	42,680	20,188	21,190	20,188	42,680	21,190
Loans:
Loans individually evaluated for impairment					10,105	10,018
Loans collectively evaluated for impairment					2,834,987	2,781,495
PCI loans evaluated for impairment					1,922	1,904
Ending balance					2,847,014	2,793,417
Real Estate Construction
Activity in the allowance for loan losses
Beginning balance	7,193	2,807	3,204	2,723
Provision for loan losses	574	411	1,463	413
Recoveries	25	87	171	169
Ending balance	7,792	3,305	7,792	3,305
Allowance for loan losses Ending balance attributed to:
Loans collectively evaluated for impairment					7,792	3,204
Ending balance	7,792	3,305	3,204	3,305	7,792	3,204
Loans:
Loans individually evaluated for impairment					559	539
Loans collectively evaluated for impairment					432,217	400,887
PCI loans evaluated for impairment					255	435
Ending balance					433,031	401,861
Retail Real Estate
Activity in the allowance for loan losses
Beginning balance	17,454	9,503	10,495	8,471
Provision for loan losses	2,981	941	7,018	2,298
Charged-off	(292)	(200)	(1,000)	(717)
Recoveries	262	369	600	561
Ending balance	20,405	10,613	20,405	10,613
Allowance for loan losses Ending balance attributed to:
Loans individually evaluated for impairment					474	474
Loans collectively evaluated for impairment					19,931	10,021
Ending balance	20,405	10,613	10,495	10,613	20,405	10,495
Loans:
Loans individually evaluated for impairment					5,179	13,676
Loans collectively evaluated for impairment					1,542,624	1,679,397
PCI loans evaluated for impairment					412	696
Ending balance					1,548,215	1,693,769
Retail Other
Activity in the allowance for loan losses
Beginning balance	1,045	510	568	488
Provision for loan losses	2	101	93	149
Charged-off	(105)	(178)	(404)	(308)
Recoveries	81	103	200	207
Ending balance	1,023	536	1,023	536
Allowance for loan losses Ending balance attributed to:
Loans collectively evaluated for impairment					1,023	568
Ending balance	1,023	$ 536	568	$ 536	1,023	568
Loans:
Loans individually evaluated for impairment						58
Loans collectively evaluated for impairment					42,806	49,776
Ending balance					42,806	49,834
Post ASC 326
Activity in the allowance for loan losses
Ending balance	16,833		16,833
Allowance for loan losses Ending balance attributed to:
Ending balance	16,833		16,833		16,833
Post ASC 326 | Commercial Loans
Activity in the allowance for loan losses
Ending balance	715		715
Allowance for loan losses Ending balance attributed to:
Ending balance	715		715		715
Post ASC 326 | Commercial Real Estate Loans
Activity in the allowance for loan losses
Ending balance	9,306		9,306
Allowance for loan losses Ending balance attributed to:
Ending balance	9,306		9,306		9,306
Post ASC 326 | Real Estate Construction
Activity in the allowance for loan losses
Ending balance	2,954		2,954
Allowance for loan losses Ending balance attributed to:
Ending balance	2,954		2,954		2,954
Post ASC 326 | Retail Real Estate
Activity in the allowance for loan losses
Ending balance	3,292		3,292
Allowance for loan losses Ending balance attributed to:
Ending balance	3,292		3,292		3,292
Post ASC 326 | Retail Other
Activity in the allowance for loan losses
Ending balance	566		566
Allowance for loan losses Ending balance attributed to:
Ending balance	$ 566		566		$ 566
Pre-ASC 326
Activity in the allowance for loan losses
Beginning balance			53,748
Allowance for loan losses Ending balance attributed to:
Ending balance			53,748			53,748
Pre-ASC 326 | Commercial Loans
Activity in the allowance for loan losses
Beginning balance			18,291
Allowance for loan losses Ending balance attributed to:
Ending balance			18,291			18,291
Pre-ASC 326 | Commercial Real Estate Loans
Activity in the allowance for loan losses
Beginning balance			21,190
Allowance for loan losses Ending balance attributed to:
Ending balance			21,190			21,190
Pre-ASC 326 | Real Estate Construction
Activity in the allowance for loan losses
Beginning balance			3,204
Allowance for loan losses Ending balance attributed to:
Ending balance			3,204			3,204
Pre-ASC 326 | Retail Real Estate
Activity in the allowance for loan losses
Beginning balance			10,495
Allowance for loan losses Ending balance attributed to:
Ending balance			10,495			10,495
Pre-ASC 326 | Retail Other
Activity in the allowance for loan losses
Beginning balance			568
Allowance for loan losses Ending balance attributed to:
Ending balance			$ 568			$ 568

Deposits (Details)

Deposits (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Deposits
Demand deposits, noninterest-bearing	$ 2,764,408	$ 1,832,619
Interest-bearing transaction deposits	2,226,488	1,989,854
Saving deposits and money market deposits	2,555,273	2,545,073
Time deposits	1,363,497	1,534,850
Total deposits	8,909,666	7,902,396
Brokered saving deposits and money market deposits	31,300	12,500
Aggregate amount of time deposits (minimum denomination of $100,000)	745,100	854,100
Time deposits minimum denomination of $250,000 or more	282,900	297,400
Brokered deposits included in the balance of time deposits	5,300	5,500
Deposits
Total	1,363,497	$ 1,534,850
Maturities of time deposits
July 1, 2020 - June 31, 2021	893,481
July 1, 2021 - June 31, 2022	291,959
July 1, 2022 - June 31, 2023	80,966
July 1, 2023 - June 31, 2024	75,481
July 1, 2024 - June 31, 2025	21,596
Thereafter	$ 14

Borrowings - Short-term borrowi

Borrowings - Short-term borrowings (Details) $ in Millions	6 Months Ended
	Jun. 30, 2020USD ($)
Maturity period
Short-term borrowings (FHLB advances)	$ 4.6
Maximum maturity period of short-term debt	1 year

Borrowings - Amended and Restat

Borrowings - Amended and Restated Credit Agreement (Details) - USD ($)	Jan. 29, 2019	Jun. 30, 2020	Dec. 31, 2019
Revolving loan facility
Borrowings
Maximum borrowing capacity	$ 20,000,000
Outstanding amounts		$ 20,000,000	$ 0
Floating interest rate margin (as a percent)		1.75%
Term of the maturity extension		1 year
Term Loan
Borrowings
Maximum borrowing capacity	$ 60,000,000
Floating interest rate margin (as a percent)	1.50%

Borrowings - Long-term Debt (De

Borrowings - Long-term Debt (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Long-term debt
Notes payable, FHLB, ranging in original maturity from 5 to 10 years, collateralized by FHLB deposits, residential and commercial real estate loans and FHLB stock	$ 35,101	$ 35,600
Term Loan		48,000
Total long-term borrowings	$ 35,101	$ 83,600
FHLB advances
Long-term debt
Weighted average rate (as a percent)	0.48%	1.53%
FHLB advances | Minimum
Long-term debt
Notes payable original maturity term	5 years	5 years
Interest rate (as a percent)	0.05%	1.25%
FHLB advances | Maximum
Long-term debt
Notes payable original maturity term	10 years	10 years
Interest rate (as a percent)	3.04%	3.04%

Borrowings - Senior notes and S

Borrowings - Senior notes and Subordinate Notes (Details) - USD ($) $ in Millions	Jun. 01, 2020	May 25, 2017	Jun. 30, 2020	Dec. 31, 2019
3.75% notes maturing May 25, 2022 | Senior notes
Long-term debt
Issuance of debt		$ 40
Interest rate (as a percent)		3.75%
Unamortized debt issuance cost			$ 0.3	$ 0.3
4.75% notes maturing May 25, 2027 | Subordinated debt
Long-term debt
Issuance of debt		$ 60
Unamortized debt issuance cost			0.7	$ 0.8
4.75% notes maturing May 25, 2027 | First Five Years | Subordinated debt
Long-term debt
Interest rate (as a percent)		4.75%
4.75% notes maturing May 25, 2027 | Three-month LIBOR | Subordinated debt
Long-term debt
Floating interest rate margin (as a percent)		2.919%
5.25% notes maturing June 1, 2030 | Subordinated debt
Long-term debt
Issuance of debt	$ 125
Floating interest rate margin (as a percent)	5.11%
Unamortized debt issuance cost			$ 2.3
5.25% notes maturing June 1, 2030 | First Five Years | Subordinated debt
Long-term debt
Interest rate (as a percent)	5.25%

Earnings Per Common Share (Deta

Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Net income per share calculations for basic and diluted methods
Net income available to common stockholders	$ 25,806	$ 24,085	$ 41,170	$ 49,554
Shares:
Weighted average common shares outstanding	54,489,000	55,638,000	54,576,000	54,464,000
Dilutive effect of outstanding options, warrants and restricted stock units as determined by the application of the treasury stock method (in shares)	216,000	303,000	231,000	300,000
Weighted average common shares outstanding, as adjusted for diluted earnings per share calculation	54,705,000	55,941,000	54,807,000	54,764,000
Basic earnings per common share (in dollars per share)	$ 0.47	$ 0.43	$ 0.75	$ 0.91
Diluted earnings per common share (in dollars per share)	$ 0.47	$ 0.43	$ 0.75	$ 0.90
Stock options
Anti-dilutive securities excluded from the calculation of common stock equivalents
Number of anti-dilutive securities (in shares)			39,525	48,107
Restricted stock unit
Anti-dilutive securities excluded from the calculation of common stock equivalents
Number of anti-dilutive securities (in shares)			367,121	169,258
Warrants
Anti-dilutive securities excluded from the calculation of common stock equivalents
Number of anti-dilutive securities (in shares)			191,278	191,278

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Changes in accumulated other comprehensive income (loss) by component, net of tax
Beginning balance	$ 1,217,585	$ 1,186,141	$ 1,220,434	$ 994,964
Unrealized gains (losses) on debt securities available for sale:
Unrealized holding gains (losses) on debt securities available for sale, Tax Effect	(1,670)	(5,189)	(10,259)	(7,129)
Unrealized holding gains (losses) on debt securities available for sale, Net of Tax	4,187	13,025	25,684	17,885
Unrealized gains on debt securities transferred from held to maturity to available for sale, Tax Effect				1,364
Unrealized gains on debt securities transferred from held to maturity to available for sale, Net of Tax				3,416
Amounts reclassified from accumulated other comprehensive income, Before Tax			(1,699)	193
Amounts reclassified from accumulated other comprehensive income, Tax Effect	41	(3)	489	(55)
Amounts reclassified from accumulated other comprehensive income, Net of Tax	(102)	7	(1,210)	138
Unrealized gains (losses) on cash flow hedges:
Unrealized holding gains (losses) on cash flow hedges, Tax Effect	(4)		(896)
Unrealized holding gains (losses) on cash flow hedges, Net of Tax	(10)		(2,247)
Amounts reclassified from accumulated other comprehensive income, Tax Effect	(56)		(60)
Amounts reclassified from accumulated other comprehensive income, Net of Tax	(139)		(150)
Ending balance	1,236,084	1,203,608	1,236,084	1,203,608
Accumulated Other Comprehensive Income (Loss)
Changes in accumulated other comprehensive income (loss) by component, net of tax
Beginning balance	33,101	1,595	14,960	(6,812)
Unrealized gains (losses) on cash flow hedges:
Accumulated other comprehensive income (loss) ending balance period, Before Tax	51,803	20,459	51,803	20,459
Accumulated other comprehensive income (loss) ending balance period, Tax Effect	(14,766)	(5,832)	(14,766)	(5,832)
Ending balance	37,037	14,627	37,037	14,627
Unrealized gains (losses) on debt securities available for sale
Changes in accumulated other comprehensive income (loss) by component, net of tax
Accumulated other comprehensive income (loss) beginning balance period, Before Tax	49,722	2,235	21,192	(9,528)
Accumulated other comprehensive income (loss) beginning balance period, Tax Effect	(14,173)	(640)	(6,032)	2,716
Beginning balance	35,549	1,595	15,160	(6,812)
Unrealized gains (losses) on debt securities available for sale:
Unrealized holding gains (losses) on debt securities available for sale, Before Tax	5,857	18,214	35,943	25,014
Unrealized holding gains (losses) on debt securities available for sale, Tax Effect	(1,670)	(5,189)	(10,259)	(7,129)
Unrealized holding gains (losses) on debt securities available for sale, Net of Tax	4,187	13,025	25,684	17,885
Unrealized gains on debt securities transferred from held to maturity to available for sale, Before Tax				4,780
Unrealized gains on debt securities transferred from held to maturity to available for sale, Tax Effect				(1,364)
Unrealized gains on debt securities transferred from held to maturity to available for sale, Net of Tax				3,416
Amounts reclassified from accumulated other comprehensive income, Before Tax	143	(10)
Amounts reclassified from accumulated other comprehensive income, Tax Effect	41	(3)
Amounts reclassified from accumulated other comprehensive income, Net of Tax	(102)	7
Unrealized gains (losses) on cash flow hedges:
Accumulated other comprehensive income (loss) ending balance period, Before Tax	55,436	20,459	55,436	20,459
Accumulated other comprehensive income (loss) ending balance period, Tax Effect	(15,802)	(5,832)	(15,802)	(5,832)
Ending balance	39,634	14,627	39,634	$ 14,627
Unrealized gains (losses) on cash flow hedges
Changes in accumulated other comprehensive income (loss) by component, net of tax
Accumulated other comprehensive income (loss) beginning balance period, Before Tax	(3,424)		(280)
Accumulated other comprehensive income (loss) beginning balance period, Tax Effect	976		80
Beginning balance	(2,448)		(200)
Unrealized gains (losses) on cash flow hedges:
Unrealized holding gains (losses) on cash flow hedges, Before Tax	(14)		(3,143)
Unrealized holding gains (losses) on cash flow hedges, Tax Effect	4		896
Unrealized holding gains (losses) on cash flow hedges, Net of Tax	(10)		(2,247)
Amounts reclassified from accumulated other comprehensive income, Before Tax	(195)		(210)
Amounts reclassified from accumulated other comprehensive income, Tax Effect	56		60
Amounts reclassified from accumulated other comprehensive income, Net of Tax	(139)		(150)
Accumulated other comprehensive income (loss) ending balance period, Before Tax	(3,633)		(3,633)
Accumulated other comprehensive income (loss) ending balance period, Tax Effect	1,036		1,036
Ending balance	$ (2,597)		$ (2,597)

Share-based Compensation (Detai

Share-based Compensation (Details) - shares	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Share-based Compensation
Number of shares held in treasury	1,394,733	1,121,961
Restricted stock unit
Share-based Compensation
Number of shares of common stock per award	1
Deferred stock units
Share-based Compensation
Number of shares of common stock per award	1
Minimum | Restricted stock unit
Share-based Compensation
Requisite service periods	1 year
Maximum | Restricted stock unit
Share-based Compensation
Requisite service periods	5 years

Share-based Compensation - Awar

Share-based Compensation - Award Status (Details) - Stock option awards	6 Months Ended
	Jun. 30, 2020$ / sharesshares
Shares
Outstanding at beginning of year (in shares) | shares	53,185
Exercised (in shares) | shares	(12,956)
Expired (in shares) | shares	(704)
Outstanding at end of year (in shares) | shares	39,525
Exercisable at end of year (in shares) | shares	39,525
Weighted-Average Exercise Price
Outstanding at beginning of year (in dollars per share) | $ / shares	$ 22
Exercised (in dollars per share) | $ / shares	22.73
Expired (in dollars per share) | $ / shares	19.98
Outstanding at end of year (in dollars per share) | $ / shares	23.53
Exercisable at end of year (in dollars per share) | $ / shares	$ 23.53
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	6 years 4 months 17 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	6 years 4 months 17 days

Share-based Compensation - Opti

Share-based Compensation - Options Outstanding (Details) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Stock option awards
Additional disclosures
Compensation expense recognized		$ 0	$ 100,000

Share-based Compensation - Rest

Share-based Compensation - Restricted and Deferred Stock Units (Details) - USD ($)	Feb. 05, 2020	Jul. 05, 2019	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Restricted stock unit
Shares
Non-vested at beginning of year (in shares)					778,317
Granted (in shares)					3,808
Dividend equivalents earned (in shares)					16,167
Vested (in shares)					(117,641)
Forfeited (in shares)					(13,522)
Non-vested at end of year (in shares)			667,129		667,129
Outstanding at end of year (in shares)			667,129		667,129
Weighted-Average Grant Date Fair Value
Non-vested at beginning of year (in dollars per share)					$ 27.27
Granted (in dollars per share)					26.26
Dividend equivalents earned (in dollars per share)					20.92
Vested (in dollars per share)					21.38
Forfeited (in dollars per share)					28.45
Non-vested at end of year (in dollars per share)			$ 28.13		28.13
Outstanding at end of year (in dollars per share)			$ 28.13		$ 28.13
Additional disclosures
Period over which cost will be recognized	3 years
Restricted stock unit | Members of management
Shares
Stock price (in dollars per share)		$ 26.26
Additional disclosures
Compensation expense recognized		$ 100,000
Vesting percentage (as a percent)		100.00%
Deferred stock units
Shares
Non-vested at beginning of year (in shares)					21,261
Dividend equivalents earned (in shares)					1,912
Vested (in shares)					(23,173)
Outstanding at end of year (in shares)			69,406		69,406
Weighted-Average Grant Date Fair Value
Non-vested at beginning of year (in dollars per share)					$ 23.18
Dividend equivalents earned (in dollars per share)					20.91
Vested (in dollars per share)					26.29
Outstanding at end of year (in dollars per share)			$ 24.47		$ 24.47
RSUs and DSUs
Additional disclosures
Compensation expense recognized			$ 1,100,000	$ 1,000,000	$ 2,200,000	$ 1,900,000
Amount of compensation cost to be recognized			$ 9,800,000		$ 9,800,000
Period over which cost will be recognized					3 years 2 months 12 days
Employee stock purchase plan
Additional disclosures
Remaining shares available for issuance			24,761		24,761
Stock option awards
Additional disclosures
Compensation expense recognized					$ 0	$ 100,000
2010 Equity Incentive Plan | Restricted stock unit | Members of management
Shares
Granted (in shares)		3,808
2020 Equity Incentive Plan
Additional disclosures
Remaining shares available for issuance			1,829,606		1,829,606

Outstanding Commitments and C_3

Outstanding Commitments and Contingent Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2020	Jan. 01, 2020	Dec. 31, 2019
Credit Commitments and Contingencies
Adoption of CECL, reserve for unfunded commitments	$ 7,100	$ 7,100	$ 5,500
Adoption of CECL, additional provision	600	1,600
Commitments to extend credit
Credit Commitments and Contingencies
Financial instruments whose contract amounts represent credit risk:	1,705,344	1,705,344		$ 1,649,565
Standby letters of credit
Credit Commitments and Contingencies
Financial instruments whose contract amounts represent credit risk:	$ 47,886	$ 47,886		$ 42,581

Regulatory Capital (Details)

Regulatory Capital (Details) - USD ($) $ in Thousands	Jun. 01, 2020	Jun. 30, 2020	Dec. 31, 2019
Total Capital (to Risk Weighted Assets), Amount
Actual, Amount		$ 1,200,278	$ 1,036,143
Minimum Capital Requirement, Amount		591,499	590,826
Minimum To Be Well Capitalized, Amount		$ 739,374	$ 738,532
Total Capital (to Risk Weighted Assets), Ratio
Actual, Ratio (as a percent)		16.23%	14.03%
Minimum Capital Requirement, Ratio (as a percent)		8.00%	8.00%
Minimum To Be Well Capitalized, Ratio (as a percent)		10.00%	10.00%
Tier 1 Capital (to Risk Weighted Assets), Amount
Actual, Amount		$ 941,243	$ 922,395
Minimum Capital Requirement, Amount		443,624	443,120
Minimum To Be Well Capitalized, Amount		$ 591,499	$ 590,826
Tier 1 Capital (to Risk Weighted Assets), Ratio
Actual, Ratio (as a percent)		12.73%	12.49%
Minimum Capital Requirement, Ratio (as a percent)		6.00%	6.00%
Minimum To Be Well Capitalized, Ratio (as a percent)		8.00%	8.00%
Common Equity Tier 1 Capital (to Risk Weighted Assets), Amount
Actual, Amount		$ 867,243	$ 848,395
Minimum Capital Requirement, Amount		332,718	332,340
Minimum To Be Well Capitalized, Amount		$ 480,593	$ 480,046
Common Equity Tier 1 Capital (to Risk Weighted Assets), Ratio
Actual, Ratio (as a percent)		11.73%	11.49%
Minimum Capital Requirement, Ratio (as a percent)		4.50%	4.50%
Minimum To Be Well Capitalized, Ratio (as a percent)		6.50%	6.50%
Tier 1 Capital (to Average Assets), Amount
Actual, Amount		$ 941,243	$ 922,395
Minimum Capital Requirement, Amount		$ 399,631	$ 373,360
Tier 1 Capital (to Average Assets), Ratio
Actual, Ratio (as a percent)		9.42%	9.88%
Minimum Capital Requirement, Ratio (as a percent)		4.00%	4.00%
Busey Bank
Total Capital (to Risk Weighted Assets), Amount
Actual, Amount		$ 1,056,068	$ 1,099,449
Minimum Capital Requirement, Amount		590,746	589,681
Minimum To Be Well Capitalized, Amount		$ 738,433	$ 737,101
Total Capital (to Risk Weighted Assets), Ratio
Actual, Ratio (as a percent)		14.30%	14.92%
Minimum Capital Requirement, Ratio (as a percent)		8.00%	8.00%
Minimum To Be Well Capitalized, Ratio (as a percent)		10.00%	10.00%
Tier 1 Capital (to Risk Weighted Assets), Amount
Actual, Amount		$ 982,033	$ 1,045,701
Minimum Capital Requirement, Amount		443,060	442,261
Minimum To Be Well Capitalized, Amount		$ 590,746	$ 589,681
Tier 1 Capital (to Risk Weighted Assets), Ratio
Actual, Ratio (as a percent)		13.30%	14.19%
Minimum Capital Requirement, Ratio (as a percent)		6.00%	6.00%
Minimum To Be Well Capitalized, Ratio (as a percent)		8.00%	8.00%
Common Equity Tier 1 Capital (to Risk Weighted Assets), Amount
Actual, Amount		$ 982,033	$ 1,045,701
Minimum Capital Requirement, Amount		332,295	331,696
Minimum To Be Well Capitalized, Amount		$ 479,981	$ 479,116
Common Equity Tier 1 Capital (to Risk Weighted Assets), Ratio
Actual, Ratio (as a percent)		13.30%	14.19%
Minimum Capital Requirement, Ratio (as a percent)		4.50%	4.50%
Minimum To Be Well Capitalized, Ratio (as a percent)		6.50%	6.50%
Tier 1 Capital (to Average Assets), Amount
Actual, Amount		$ 982,033	$ 1,045,701
Minimum Capital Requirement, Amount		399,926	373,639
Minimum To Be Well Capitalized, Amount		$ 499,907	$ 467,049
Tier 1 Capital (to Average Assets), Ratio
Actual, Ratio (as a percent)		9.82%	11.19%
Minimum Capital Requirement, Ratio (as a percent)		4.00%	4.00%
Minimum To Be Well Capitalized, Ratio (as a percent)		5.00%	5.00%
Subordinated debt | 5.25% fixed-to-floating rate notes due 2030
Regulatory Capital
Proceeds from public offering	$ 125,000	$ 125,000

Operating Segments and Relate_3

Operating Segments and Related Information (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)segment	Jun. 30, 2019USD ($)	Dec. 31, 2019USD ($)
Operating Segments and Related Information
Number of reportable segments | segment			3
Number of operating segments | segment			3
Goodwill	$ 311,536		$ 311,536		$ 311,536
Total Assets	10,835,965		10,835,965		9,695,729
Net interest income	70,813	$ 73,428	140,246	$ 141,811
Non-interest income:	27,964	27,896	55,481	53,841
Non-interest expense:	53,068	68,020	113,582	125,183
Income before income taxes	32,818	30,787	52,038	65,841
Net income:	25,806	24,085	41,170	49,554
Operating segments | Banking
Operating Segments and Related Information
Goodwill	288,436		288,436		288,436
Total Assets	10,765,956		10,765,956		9,632,368
Net interest income	73,318	75,944	144,891	146,582
Non-interest income:	14,026	15,659	27,194	28,442
Non-interest expense:	41,659	56,895	90,174	102,066
Income before income taxes	32,794	32,191	51,804	68,330
Net income:	25,985	24,441	40,909	51,106
Operating segments | Remittance Processing
Operating Segments and Related Information
Goodwill	8,992		8,992		8,992
Total Assets	45,334		45,334		44,209
Net interest income	19	18	38	36
Non-interest income:	3,962	4,117	8,031	8,298
Non-interest expense:	3,243	2,589	6,146	5,353
Income before income taxes	738	1,546	1,923	2,981
Net income:	528	1,105	1,388	2,130
Operating segments | Wealth Management
Operating Segments and Related Information
Goodwill	14,108		14,108		14,108
Total Assets	40,361		40,361		32,760
Non-interest income:	10,310	9,594	22,019	18,727
Non-interest expense:	6,254	5,749	13,228	11,313
Income before income taxes	4,056	3,845	8,791	7,414
Net income:	3,082	2,845	6,681	5,486
Other
Operating Segments and Related Information
Total Assets	(15,686)		(15,686)		$ (13,608)
Net interest income	(2,524)	(2,534)	(4,683)	(4,807)
Non-interest income:	(334)	(1,474)	(1,763)	(1,626)
Non-interest expense:	1,912	2,787	4,034	6,451
Income before income taxes	(4,770)	(6,795)	(10,480)	(12,884)
Net income:	$ (3,789)	$ (4,306)	$ (7,808)	$ (9,168)

Derivative Financial Instrume_3

Derivative Financial Instruments - Interest Rate Swaps Designated as Cash Flow Hedges (Details) - Interest rate swap - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Derivative [Line Items]
Unrealized gains (losses), net of tax	$ 0	$ 0	$ 0	$ 0
Cash Flow Hedging
Derivative [Line Items]
Notional amount	$ 70,000		$ 70,000		$ 70,000
Weighted average fixed pay rates	1.80%		1.80%		1.80%
Weighted average variable 3 month LIBOR receive rates	0.31%		0.31%		1.90%
Weighted average maturity			3 years 4 months 9 days		3 years 10 months 9 days
Unrealized gains (losses), net of tax			$ (2,597)		$ (200)
Interest expense on swap transactions	$ 200		200
Unrealized gain to be reclassified from OCI to interest expense during next twelve months			300
Other liabilities
Derivative [Line Items]
Derivative Liability	38,693		38,693		12,354
Other liabilities | Cash Flow Hedging
Derivative [Line Items]
Fair value recorded in other liabilities	$ 3,600		$ 3,600		$ 300

Derivative Financial Instrume_4

Derivative Financial Instruments - Net Gains (Losses) Recorded in Accumulated Other Comprehensive Income (Loss) (Details) - Interest rate contract - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2020	Dec. 31, 2019
Derivative [Line Items]
Derivative cash pledged	$ 3,800	$ 3,800	$ 300
Cash Flow Hedging
Derivative [Line Items]
Amount of (gain) loss recognized in OCI	(10)	(2,247)
Amount of (gain) loss reclassified from OCI to interest expense	$ (139)	$ (150)

Derivative Financial Instrume_5

Derivative Financial Instruments - Interest Rate Lock Commitments (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Interest Rate Lock Commitments
Derivative Financial Instruments
Notional amount	$ 129.5	$ 69.1

Derivative Financial Instrume_6

Derivative Financial Instruments - Forward Sales Commitments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Forward sales commitments
Derivative Financial Instruments
Notional amount	$ 231,400		$ 231,400		$ 135,300
Interest rate lock commitments and forward sales commitments
Gross gains and losses on derivative assets and liabilities recorded in Consolidated Statements of Income
Net gains (losses)	(20)	$ (278)	(952)	$ (60)
Interest rate lock commitments and forward sales commitments | Other assets
Fair values of derivative assets and liabilities recorded in consolidated balance sheets
Fair value recorded in other assets	2,410		2,410		1,046
Interest rate lock commitments and forward sales commitments | Other liabilities
Fair values of derivative assets and liabilities recorded in consolidated balance sheets
Fair value recorded in other liabilities	4,974		4,974		$ 2,187
Non-interest income | Interest rate lock commitments and forward sales commitments
Gross gains and losses on derivative assets and liabilities recorded in Consolidated Statements of Income
Gross gains	1,929	4,696	11,366	3,007
Non-interest expense | Interest rate lock commitments and forward sales commitments
Gross gains and losses on derivative assets and liabilities recorded in Consolidated Statements of Income
Gross (losses)	$ (1,949)	$ (4,974)	$ (12,318)	$ (3,067)

Derivative Financial Instrume_7

Derivative Financial Instruments - Interest Rate Swaps Not Designated as Hedges (Details) - Interest rate swap - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Gross gains and losses on derivative assets and liabilities recorded in Consolidated Statements of Income
Net gains (losses)	$ 0	$ 0	$ 0	$ 0
Derivative cash pledged	38,800		38,800		$ 18,100
Not designated as hedging
Derivative Financial Instruments
Notional amount	685,200		685,200		580,800
Variable rate, commercial loans that are supported by the interest rate swap contracts	342,600		342,600		290,400
Non-interest income
Gross gains and losses on derivative assets and liabilities recorded in Consolidated Statements of Income
Gross gains	2,861	73	26,339	164
Non-interest expense
Gross gains and losses on derivative assets and liabilities recorded in Consolidated Statements of Income
Gross (losses)	(2,861)	$ (73)	(26,339)	$ (164)
Other assets
Fair values of derivative assets and liabilities recorded in consolidated balance sheets
Fair value recorded in other assets	38,693		38,693		12,354
Other liabilities
Fair values of derivative assets and liabilities recorded in consolidated balance sheets
Fair value recorded in other liabilities	$ 38,693		$ 38,693		$ 12,354

Fair Value Measurements - Gener

Fair Value Measurements - General Disclosures (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Financial assets and financial liabilities measured at fair value
Debt securities available for sale	$ 1,696,866	$ 1,648,257
Equity securities	5,126	5,952
Loans held for sale, at fair value	108,140	68,699
U.S. Treasury securities
Financial assets and financial liabilities measured at fair value
Debt securities available for sale	33,236	51,737
Obligations of U.S. government corporations and agencies
Financial assets and financial liabilities measured at fair value
Debt securities available for sale	80,044	163,000
Obligations of states and political subdivisions
Financial assets and financial liabilities measured at fair value
Debt securities available for sale	282,894	268,291
Commercial mortgage-backed securities
Financial assets and financial liabilities measured at fair value
Debt securities available for sale	241,305	139,287
Residential mortgage-backed securities
Financial assets and financial liabilities measured at fair value
Debt securities available for sale	970,193	921,966
Corporate debt securities
Financial assets and financial liabilities measured at fair value
Debt securities available for sale	89,194	103,976
Recurring basis
Financial assets and financial liabilities measured at fair value
Equity securities	5,126	5,952
Loans held for sale, at fair value	108,140	68,699
Recurring basis | Derivative assets
Financial assets and financial liabilities measured at fair value
Fair value recorded in other assets	41,103	13,400
Recurring basis | Derivative liabilities
Financial assets and financial liabilities measured at fair value
Fair value recorded in other liabilities	47,300	14,821
Recurring basis | U.S. Treasury securities
Financial assets and financial liabilities measured at fair value
Debt securities available for sale	33,236	51,737
Recurring basis | Obligations of U.S. government corporations and agencies
Financial assets and financial liabilities measured at fair value
Debt securities available for sale	80,044	163,000
Recurring basis | Obligations of states and political subdivisions
Financial assets and financial liabilities measured at fair value
Debt securities available for sale	282,894	268,291
Recurring basis | Commercial mortgage-backed securities
Financial assets and financial liabilities measured at fair value
Debt securities available for sale	241,305	139,287
Recurring basis | Residential mortgage-backed securities
Financial assets and financial liabilities measured at fair value
Debt securities available for sale	970,193	921,966
Recurring basis | Corporate debt securities
Financial assets and financial liabilities measured at fair value
Debt securities available for sale	89,194	103,976
Recurring basis | Level 2
Financial assets and financial liabilities measured at fair value
Equity securities	5,126	5,952
Loans held for sale, at fair value	108,140	68,699
Recurring basis | Level 2 | Derivative assets
Financial assets and financial liabilities measured at fair value
Fair value recorded in other assets	41,103	13,400
Recurring basis | Level 2 | Derivative liabilities
Financial assets and financial liabilities measured at fair value
Fair value recorded in other liabilities	47,300	14,821
Recurring basis | Level 2 | U.S. Treasury securities
Financial assets and financial liabilities measured at fair value
Debt securities available for sale	33,236	51,737
Recurring basis | Level 2 | Obligations of U.S. government corporations and agencies
Financial assets and financial liabilities measured at fair value
Debt securities available for sale	80,044	163,000
Recurring basis | Level 2 | Obligations of states and political subdivisions
Financial assets and financial liabilities measured at fair value
Debt securities available for sale	282,894	268,291
Recurring basis | Level 2 | Commercial mortgage-backed securities
Financial assets and financial liabilities measured at fair value
Debt securities available for sale	241,305	139,287
Recurring basis | Level 2 | Residential mortgage-backed securities
Financial assets and financial liabilities measured at fair value
Debt securities available for sale	970,193	921,966
Recurring basis | Level 2 | Corporate debt securities
Financial assets and financial liabilities measured at fair value
Debt securities available for sale	$ 89,194	$ 103,976

Fair Value Measurements - Addit

Fair Value Measurements - Additional Quantitative Information (Details) $ in Thousands	Jun. 30, 2020USD ($)	Dec. 31, 2019USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Impaired loans	$ 22,106	$ 37,079
Level 3 | Appraisal of collateral | OREO | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
OREO (percent)	(25)	(25)
Level 3 | Appraisal of collateral | OREO | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
OREO (percent)	(100)	(100)
Level 3 | Appraisal of collateral | OREO | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
OREO (percent)	(65)	(65)
Level 3 | Appraisal of collateral or real estate listing price | Bank property held for sale | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Bank property held for sale (percent)	(6.2)	(6.2)
Level 3 | Appraisal of collateral or real estate listing price | Bank property held for sale | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Bank property held for sale (percent)	(64.9)	(71.3)
Level 3 | Appraisal of collateral or real estate listing price | Bank property held for sale | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Bank property held for sale (percent)	(23.9)	(40.7)
Non-recurring basis
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Impaired loans	$ 2,343	$ 2,686
OREO	55	55
Bank property held for sale	3,594	4,004
Non-recurring basis | Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Impaired loans	2,343	2,686
OREO	55	55
Bank property held for sale	3,594	4,004
Non-recurring basis | Level 3 | Appraisal of collateral | Loans evaluated individually
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Impaired loans	$ 2,343	$ 2,686
Non-recurring basis | Level 3 | Appraisal of collateral | Loans evaluated individually | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans evaluated individually	(11.3)	(2.9)
Non-recurring basis | Level 3 | Appraisal of collateral | Loans evaluated individually | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans evaluated individually	(100)	(100)
Non-recurring basis | Level 3 | Appraisal of collateral | Loans evaluated individually | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans evaluated individually	(48.5)	(57.8)
Non-recurring basis | Level 3 | Appraisal of collateral | OREO
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
OREO	$ 55	$ 55
Non-recurring basis | Level 3 | Appraisal of collateral or real estate listing price | Bank property held for sale
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Bank property held for sale	$ 3,594	$ 4,004

Fair Value Measurements - Segre

Fair Value Measurements - Segregated by Level of Valuation Inputs (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Financial assets:
Portfolio loans, net	$ 7,132,974	$ 6,633,501
Financial liabilities:
Short-term borrowings	24,648	8,551
Junior subordinated debt owed to unconsolidated trusts	71,387	71,308
Level 1 | Carrying Amount
Financial assets:
Cash and cash equivalents	1,050,072	529,288
Level 1 | Fair Value
Financial assets:
Cash and cash equivalents	1,050,072	529,288
Level 2 | Carrying Amount
Financial assets:
Accrued interest receivable	34,035	27,109
Financial liabilities:
Time deposits	1,363,497	1,534,850
Securities sold under agreements to repurchase	194,249	205,491
Short-term borrowings	24,648	8,551
Long-term debt	35,101	83,600
Junior subordinated debt owed to unconsolidated trusts	71,387	71,308
Accrued interest payable	4,659	5,000
Level 2 | Fair Value
Financial assets:
Accrued interest receivable	34,035	27,109
Financial liabilities:
Time deposits	1,381,268	1,538,597
Securities sold under agreements to repurchase	194,249	205,491
Short-term borrowings	24,642	8,552
Long-term debt	35,252	83,614
Junior subordinated debt owed to unconsolidated trusts	58,954	74,153
Accrued interest payable	4,659	5,000
Level 3 | Carrying Amount
Financial assets:
Portfolio loans, net	7,132,974	6,633,501
Mortgage servicing rights	12,085	12,326
Other servicing rights	1,136	1,071
Level 3 | Fair Value
Financial assets:
Portfolio loans, net	7,148,040	6,648,560
Mortgage servicing rights	12,481	18,193
Other servicing rights	1,623	1,740
Level 3 | Senior notes | Carrying Amount
Financial liabilities:
Long-term debt	39,741	39,674
Level 3 | Senior notes | Fair Value
Financial liabilities:
Long-term debt	40,111	40,099
Level 3 | Subordinated debt | Carrying Amount
Financial liabilities:
Long-term debt	181,995	59,248
Level 3 | Subordinated debt | Fair Value
Financial liabilities:
Long-term debt	$ 175,284	$ 61,514

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Leases
Right of use asset	$ 8,511			$ 8,511		$ 9,490
Lease liability	8,601			8,601		$ 9,552
Rent expense under operating leases, included in net occupancy and equipment expense	$ 781	$ 800	$ 711	$ 1,587	$ 1,370

Leases - Lease Cost and Other L

Leases - Lease Cost and Other Lease Information (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Lease Costs
Operating lease costs	$ 635		$ 584	$ 1,255	$ 1,117
Variable lease costs	131		119	302	230
Short-term lease costs	15		8	30	23
Net lease cost	781	$ 800	711	1,587	1,370
Cash paid for amounts included in the measurement of lease liabilities
Operating lease cash flows - Fixed payments	612		570	1,223	1,083
Operating lease cash flows - Liability reduction	$ 534		490	1,064	953
Right of use assets obtained during the period in exchange for operating lease liabilities			$ 764	$ 128	$ 764
Weighted average lease term (in years)	6 years 5 months 8 days		6 years 9 months 21 days	6 years 5 months 8 days	6 years 9 months 21 days
Weighted average discount rate (in percent)	3.06%		3.04%	3.06%	3.04%

Leases - Future Rent Commitment

Leases - Future Rent Commitments (Details) $ in Thousands	Jun. 30, 2020USD ($)
Projected minimum rental payments under the terms of leases
Remainder of 2020	$ 1,218
2021	1,814
2022	1,411
2023	1,254
2024	1,022
Thereafter	2,876
Amounts representing interest	(994)
Present value of net future minimum lease payments	$ 8,601