First Busey (BUSE) 10-Q4 Nov 212021 Q3 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2021	Nov. 04, 2021
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2021
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		55,668,984
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Entity Central Index Key	0000314489
Amendment Flag	false

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Assets
Cash and due from banks	$ 151,372	$ 118,824
Interest-bearing deposits	732,473	569,713
Total cash and cash equivalents	883,845	688,537
Debt securities available for sale	3,997,244	2,261,187
Equity securities	13,012	5,530
Loans held for sale, at fair value	20,225	42,813
Portfolio loans (net of ACL of $92,802 at September 30, 2021; $101,048 at December 31, 2020)	7,057,833	6,713,129
Premises and equipment, net	142,031	135,191
Right of use assets	11,068	7,714
Goodwill	317,766	311,536
Other intangible assets, net	61,125	51,985
Cash surrender value of bank owned life insurance	176,730	176,405
Other assets	218,451	150,020
Total assets	12,899,330	10,544,047
Deposits:
Noninterest-bearing	3,453,906	2,552,039
Interest-bearing	7,363,961	6,125,810
Total deposits	10,817,867	8,677,849
Securities sold under agreements to repurchase	241,242	175,614
Short-term borrowings	17,673	4,658
Long-term debt	49,233	4,757
Senior notes, net of unamortized issuance costs	39,910	39,809
Subordinated notes, net of unamortized issuance costs	182,637	182,226
Junior subordinated debt owed to unconsolidated trusts	71,593	71,468
Lease liabilities	11,120	7,757
Other liabilities	134,979	109,840
Total liabilities	11,566,254	9,273,978
Outstanding commitments and contingent liabilities (see Notes 10 and 16)
Stockholders' Equity
Common stock, ($.001 par value)	58	56
Additional paid-in capital	1,315,038	1,253,360
Retained earnings	75,643	20,830
Accumulated other comprehensive income (loss)	(1,366)	33,309
Total stockholders' equity before treasury stock	1,389,373	1,307,555
Treasury stock at cost	(56,297)	(37,486)
Total stockholders' equity	1,333,076	1,270,069
Total liabilities and stockholders' equity	$ 12,899,330	$ 10,544,047
Shares
Common shares issued	58,116,970	55,910,733
Less treasury shares	(2,289,986)	(1,506,354)
Common shares outstanding	55,826,984	54,404,379

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
CONSOLIDATED BALANCE SHEETS (Unaudited)
Portfolio Loans, allowance for loan losses (in dollars)	$ 92,802	$ 101,048
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Interest income
Interest and fees on loans	$ 65,163	$ 69,809	$ 189,132	$ 213,434
Interest and dividends on investment securities:
Taxable interest income	11,324	8,466	29,016	26,807
Non-taxable interest income	915	1,141	2,878	3,458
Other interest income	462	213	857	1,596
Total interest income	77,864	79,629	221,883	245,295
Interest expense
Deposits	3,059	6,105	10,086	26,053
Federal funds purchased and securities sold under agreements to repurchase	60	88	177	596
Short-term borrowings	112	30	195	215
Long-term debt	270	38	415	495
Senior notes	400	400	1,199	1,199
Subordinated notes	2,480	2,475	7,436	4,518
Junior subordinated debt owed to unconsolidated trusts	728	740	2,185	2,220
Total interest expense	7,109	9,876	21,693	35,296
Net interest income	70,755	69,753	200,190	209,999
Provision for credit losses	(1,869)	5,549	(10,365)	35,656
Net interest income after provision for credit losses	72,624	64,204	210,555	174,343
Noninterest income
Income on bank owned life insurance	999	1,022	3,439	4,361
Net gains (losses) on sales of securities	(5)	11	114	1,710
Unrealized gains (losses) recognized on equity securities	62	(437)	2,482	(1,234)
Other income	3,071	3,339	7,134	5,888
Total noninterest income	33,259	32,285	97,715	87,766
Noninterest expense
Salaries, wages, and employee benefits	41,949	32,839	107,222	95,397
Data processing	7,782	3,937	16,881	12,383
Net occupancy expense of premises	4,797	4,256	13,606	13,419
Furniture and equipment expenses	2,208	2,325	6,300	7,311
Professional fees	1,361	1,698	5,617	5,508
Amortization of intangible assets	3,149	2,493	8,200	7,569
Interchange expense	1,434	1,223	4,360	3,590
Other expense	10,807	7,771	28,425	24,947
Total noninterest expense	73,487	56,542	190,611	170,124
Income before income taxes	32,396	39,947	117,659	91,985
Income taxes	6,455	9,118	24,136	19,986
Net income	$ 25,941	$ 30,829	$ 93,523	$ 71,999
Basic earnings per common share (in dollars per share)	$ 0.46	$ 0.56	$ 1.69	$ 1.32
Diluted earnings per common share (in dollars per share)	0.46	0.56	1.67	1.31
Dividends declared per share of common stock (in dollars per share)	$ 0.23	$ 0.22	$ 0.69	$ 0.66
Wealth management fees
Noninterest income
Non-interest income	$ 13,749	$ 10,548	$ 39,335	$ 32,296
Fees for customer services
Noninterest income
Non-interest income	9,288	8,014	25,936	23,400
Remittance processing
Noninterest income
Non-interest income	4,355	3,995	13,122	11,466
Mortgage revenue
Noninterest income
Mortgage revenue	$ 1,740	$ 5,793	$ 6,153	$ 9,879

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited)
Net income	$ 25,941	$ 30,829	$ 93,523	$ 71,999
Unrealized gains (losses) on debt securities available for sale:
Net unrealized holding gains (losses) on debt securities available for sale, net of taxes of $4,902, $682, $14,195, and ($9,577), respectively	(12,296)	(1,710)	(35,606)	23,974
Reclassification adjustment for realized (gains) losses on debt securities available for sale included in net income, net of taxes of ($1), $3, $7, and $492, respectively	4	(8)	(16)	(1,218)
Net change in unrealized gains (losses) on debt securities available for sale	(12,292)	(1,718)	(35,622)	22,756
Unrealized gains (losses) on cash flow hedges:
Net unrealized holding gains (losses) on cash flow hedges, net of taxes of $2, ($6), ($134), and $890, respectively	(5)	14	336	(2,233)
Reclassification adjustment for realized (gains) losses on cash flow hedges included in net income, net of taxes of ($82), ($76), ($243), and ($16), respectively	206	192	611	42
Net change in unrealized gains (losses) on cash flow hedges	201	206	947	(2,191)
Net change in accumulated other comprehensive income (loss)	(12,091)	(1,512)	(34,675)	20,565
Total comprehensive income	$ 13,850	$ 29,317	$ 58,848	$ 92,564

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited)
Net unrealized holding gains (losses) on debt securities available for sale, taxes	$ 4,902	$ 682	$ 14,195	$ (9,577)
Reclassification adjustment for realized (gains) losses on debt securities available for sale included in net income, taxes	(1)	3	7	492
Net unrealized holding gains (losses) on cash flow hedges, taxes	2	(6)	(134)	890
Reclassification adjustment for realized (gains) losses on cash flow hedges included in net income, taxes	$ (82)	$ (76)	$ (243)	$ (16)

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands	Common Stock	Additional Paid-in Capital	Retained Earnings (Accumulated Deficit).Cumulative Effect, Period of Adoption, Adjustment	Retained Earnings (Accumulated Deficit).	Accumulated other comprehensive income (loss)	Treasury Stock	Cumulative Effect, Period of Adoption, Adjustment	Total
Beginning balance at Dec. 31, 2019	$ 56	$ 1,248,216	$ (15,922)	$ (14,813)	$ 14,960	$ (27,985)	$ (15,922)	$ 1,220,434
Beginning Balance (in shares) at Dec. 31, 2019	54,788,772
Increase (decrease) in shareholders' equity
Net income				71,999				71,999
Other comprehensive income (loss)					20,565			20,565
Repurchase of stock						(9,669)		(9,669)
Repurchase of stock (in shares)	(407,850)
Issuance of treasury stock for employee stock purchase plan		(68)				504		436
Issuance of treasury stock for employee stock purchase plan (in shares)	26,651
Net issuance of treasury stock for restricted/deferred stock unit vesting and related tax		(2,648)				2,013		(635)
Net issuance of treasury stock for restricted/deferred stock unit vesting and related tax (in shares)	106,589
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				(36,017)				(36,017)
Stock dividend equivalents restricted stock units		529		(529)
Stock-based compensation		4,413						4,413
Ending balance at Sep. 30, 2020	$ 56	1,250,391		4,718	35,525	(34,985)		1,255,705
Ending Balance (in shares) at Sep. 30, 2020	54,522,231
Beginning balance at Jun. 30, 2020	$ 56	1,248,045		(13,951)	37,037	(35,103)		1,236,084
Beginning Balance (in shares) at Jun. 30, 2020	54,516,000
Increase (decrease) in shareholders' equity
Net income				30,829				30,829
Other comprehensive income (loss)					(1,512)			(1,512)
Issuance of treasury stock for employee stock purchase plan		(23)				116		93
Issuance of treasury stock for employee stock purchase plan (in shares)	6,119
Net issuance of treasury stock for restricted/deferred stock unit vesting and related tax		(2)				2
Net issuance of treasury stock for restricted/deferred stock unit vesting and related tax (in shares)	112
Cash dividends common stock				(11,994)				(11,994)
Stock dividend equivalents restricted stock units		166		(166)
Stock-based compensation		2,205						2,205
Ending balance at Sep. 30, 2020	$ 56	1,250,391		4,718	35,525	(34,985)		1,255,705
Ending Balance (in shares) at Sep. 30, 2020	54,522,231
Beginning balance at Dec. 31, 2020	$ 56	1,253,360		20,830	33,309	(37,486)		1,270,069
Beginning Balance (in shares) at Dec. 31, 2020	54,404,379
Increase (decrease) in shareholders' equity
Net income				93,523				93,523
Other comprehensive income (loss)					(34,675)			(34,675)
Stock issued in acquisition, net of stock issuance costs (in shares)	2,206,237
Stock issued in acquisition, net of stock issuance costs	$ 2	58,953						58,955
Repurchase of stock						(22,038)		(22,038)
Repurchase of stock (in shares)	(905,000)
Issuance of treasury stock for employee stock purchase plan		(16)				377		361
Issuance of treasury stock for employee stock purchase plan (in shares)	14,658
Net issuance of treasury stock for restricted/deferred stock unit vesting and related tax		(3,738)				2,850		(888)
Net issuance of treasury stock for restricted/deferred stock unit vesting and related tax (in shares)	106,710
Cash dividends common stock				(37,953)				(37,953)
Stock dividend equivalents restricted stock units		757		(757)
Stock-based compensation		5,722						5,722
Ending balance at Sep. 30, 2021	$ 58	1,315,038		75,643	(1,366)	(56,297)		1,333,076
Ending Balance (in shares) at Sep. 30, 2021	55,826,984
Beginning balance at Jun. 30, 2021	$ 58	1,316,716		62,926	10,725	(44,734)		1,345,691
Beginning Balance (in shares) at Jun. 30, 2021	56,330,616
Increase (decrease) in shareholders' equity
Net income				25,941				25,941
Other comprehensive income (loss)					(12,091)			(12,091)
Stock issued in acquisition, net of stock issuance costs		(29)						(29)
Repurchase of stock						(14,790)		(14,790)
Repurchase of stock (in shares)	(625,000)
Issuance of treasury stock for employee stock purchase plan		(16)				377		361
Issuance of treasury stock for employee stock purchase plan (in shares)	14,658
Net issuance of treasury stock for restricted/deferred stock unit vesting and related tax		(3,738)				2,850		(888)
Net issuance of treasury stock for restricted/deferred stock unit vesting and related tax (in shares)	106,710
Cash dividends common stock				(12,956)				(12,956)
Stock dividend equivalents restricted stock units		268		(268)
Stock-based compensation		1,837						1,837
Ending balance at Sep. 30, 2021	$ 58	$ 1,315,038		$ 75,643	$ (1,366)	$ (56,297)		$ 1,333,076
Ending Balance (in shares) at Sep. 30, 2021	55,826,984

CONSOLIDATED STATEMENTS OF ST_2

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited)
Cash dividends, common stock (in dollars per share)	$ 0.23	$ 0.22	$ 0.69	$ 0.66
Stock dividends, restricted stock units (in dollars per share)	$ 0.23	$ 0.22	$ 0.69	$ 0.66

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash Flows Provided by (Used in) Operating Activities
Net income	$ 93,523	$ 71,999
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Provision for credit losses	(10,365)	35,656
Amortization of intangible assets	8,200	7,569
Amortization of mortgage servicing rights	4,202	3,932
Depreciation and amortization of premises and equipment	8,723	9,384
Net amortization (accretion) of premium (discount) on portfolio loans acquired	(4,860)	(7,015)
Net amortization (accretion) of premium (discount) on investment securities	17,263	6,698
Net amortization (accretion) of premium (discount) on time deposits	(929)	(662)
Net amortization (accretion) of premium (discount) on FHLB advances and other borrowings	620	387
Impairment of OREO		43
Impairment of fixed assets held for sale		36
Impairment of mortgage servicing rights	(542)	604
Change in fair value of equity securities, net	(2,482)	1,234
(Gain) loss on sales of debt securities, net	(114)	(1,710)
(Gain) loss on sales of loans, net	(8,202)	(21,357)
(Gain) loss on sales of OREO	163	47
(Gain) loss on sales of premises and equipment	(1,007)	198
(Gain) loss on life insurance proceeds	(493)	(1,256)
Provision for deferred income taxes	2,326	(2,730)
Stock-based compensation	5,722	4,413
(Increase) decrease in cash surrender value of bank owned life insurance	(2,946)	(3,105)
Mortgage loans originated for sale	(214,096)	(770,186)
Proceeds from sales of mortgage loans	244,356	771,039
Net change in operating assets and liabilities:
(Increase) decrease in other assets	(12,791)	(3,435)
Increase (decrease) in other liabilities	(23,775)	(369)
Net cash provided by (used in) operating activities	102,496	101,414
Cash Flows Provided by (Used in) Investing Activities
Purchases of equity securities	(11,017)	(13,123)
Purchases of debt securities available for sale	(2,048,554)	(907,094)
Proceeds from sales of equity securities	7,254	33
Proceeds from sales of debt securities available for sale	290,955
Proceeds from paydowns and maturities of debt securities available for sale	641,754	477,370
Net cash received in (paid for) acquisitions (see Note 2)	228,279
Net (increase) decrease in loans	114,729	(439,679)
Cash paid for premiums on bank-owned life insurance	(118)	(120)
Purchases of premises and equipment	(4,041)	(3,158)
Proceeds from life insurance	3,232	2,512
Proceeds from disposition of premises and equipment	6,519	806
Proceeds from sales of OREO	1,452	492
Net cash provided by (used in) investing activities	(769,556)	(881,961)
Cash Flows Provided by (Used in) Financing Activities
Net increase (decrease) in deposits	816,551	740,967
Net change in federal funds purchased and securities sold under agreements to repurchase	48,977	(3,850)
Proceeds from other borrowings	72,500	142,634
Repayment of other borrowings	(15,500)	(74,000)
Proceeds from FHLB advances	5,000	4,000
Repayment of FHLB advances	(4,492)	(32,551)
Cash dividends paid	(37,953)	(36,017)
Purchase of treasury stock	(22,038)	(9,669)
Cash paid for withholding taxes on stock-based payments	(888)	(635)
Proceeds from stock options exercised		101
Issuance of treasury stock for ESPP	361
Common stock issuance costs	(150)
Net cash provided by (used in) financing activities	862,368	730,980
Net increase (decrease) in cash and cash equivalents	195,308	(49,567)
Cash and cash equivalents, beginning of period	688,537	529,288
Cash and cash equivalents, ending of period	883,845	479,721
Cash payments for:
Interest	16,257	41,987
Income taxes	9,641	19,395
Non-cash investing and financing activities:
OREO acquired in settlement of loans	$ 228	$ 2,482

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
Significant Accounting Policies	Sep. 30, 2021
Significant Accounting Policies
Significant Accounting Policies	Note 1: Significant Accounting Policies Nature of Operations First Busey Corporation, a Nevada corporation organized in 1980, is a $12.9 billion financial holding company headquartered in Champaign, Illinois. Our common stock is traded on The Nasdaq Global Select Market under the symbol “BUSE.” The Company operates and reports its business in three segments: Banking, Remittance Processing, and Wealth Management. The Banking operating segment provides a full range of banking services to individual and corporate customers through the Company’s wholly-owned bank subsidiary, Busey Bank, with banking centers in Illinois; the St. Louis, Missouri metropolitan area; southwest Florida; and Indianapolis, Indiana. The Remittance Processing operating segment provides technology-driven payment solutions for walk-in, lockbox, interactive voice recognition, and online bill payments, among others, through the Company’s subsidiary, FirsTech. The Wealth Management operating segment provides a full range of asset management, investment, brokerage, fiduciary, philanthropic advisory, tax preparation, and farm management services to individuals, businesses, and foundations. Basis of Financial Statement Presentation These unaudited consolidated financial statements and related notes should be read in conjunction with the audited consolidated financial statements included in our 2020 Annual Report. These interim unaudited consolidated financial statements serve to update our 2020 Annual Report and may not include all information and notes necessary to constitute a complete set of financial statements. We prepared these unaudited consolidated financial statements in conformity with GAAP. We have eliminated intercompany accounts and transactions. We have also reclassified certain prior year amounts to conform to the current period presentation. These reclassifications did not have a material impact on our consolidated financial condition or results of operations. In our opinion, the unaudited consolidated financial statements reflect all normal, recurring adjustments needed to present fairly our results for the interim periods. The results of operations for interim periods are not necessarily indicative of the results that may be expected for the full year or any other interim period. COVID-19 First Busey has continued to operate as an essential community resource during these challenging and unprecedented times. Federal bank regulatory agencies, along with their state counterparts, have issued a steady stream of guidance responding to the COVID-19 pandemic and have taken a number of steps to help banks navigate the pandemic and mitigate its impact. The Company remains vigilant as the negative impacts of COVID-19, such as further margin compression and a deterioration in asset quality, could impact future quarters. As part of the CARES Act, Congress appropriated approximately $349 billion for the creation of the PPP and then authorized a second phase for an additional $310 billion in PPP loans. The program provided payroll assistance for the nation’s nearly 30 million small businesses—and select nonprofits—in the form of government-guaranteed low-interest loans from the SBA. On December 27, 2020, the Economic Aid Act extended the authority to make PPP loans through March 31, 2021, and revised certain PPP requirements. On March 30, 2021, the President signed the PPP Extension Act of 2021, which extended the PPP application deadline to May 31, 2021, or until funding was exhausted, which occurred on May 28, 2021. First Busey served as a bridge for these programs, actively helping existing and new business clients sign up for this important financial resource. The following table summarizes First Busey’s PPP loans as of September 30, 2021, (dollars in thousands) CARES Economic Aid PPP Loan Act Act Totals Customers with PPP loans processed/acquired 4,595 2,753 7,348 PPP loans originated/acquired $ 765,212 $ 324,593 $ 1,089,805 Customers with PPP loans outstanding 121 1,499 1,620 PPP loans outstanding $ 17,364 $ 165,746 $ 183,110 PPP loans outstanding, amortized cost 17,325 160,906 178,231 PPP loan balance forgiveness: Received $ 744,320 $ 151,135 $ 895,455 Balances submitted to the SBA for forgiveness 10,796 10,217 21,013 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 debt securities available for sale, fair value of assets acquired and liabilities assumed in business combinations, goodwill, income taxes, and the determination of the ACL. 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 were issued. There were no significant subsequent events for the quarter ended September 30, 2021, through the filing date of these unaudited consolidated financial statements.

Acquisitions

Acquisitions	9 Months Ended
Acquisitions	Sep. 30, 2021
Acquisitions
Acquisitions	Note 2: Acquisitions Cummins-American Corp. Effective May 31, 2021, the Company completed its acquisition of CAC, the holding company for GSB. The partnership has enhanced the Company’s existing deposit, commercial banking, and wealth management presence in the Chicago-Naperville-Elgin, IL-IN-WI Metropolitan Statistical Area. GSB’s results of operations were included in the Company’s results of operations beginning June 1, 2021. First Busey operated GSB as a separate banking subsidiary until August 14, 2021, when it was merged with and into Busey Bank. At that time, all GSB banking centers became branches of Busey Bank. Under terms of the definitive agreement, each share of CAC common stock issued and outstanding as of the effective date was converted into the right to receive 444.4783 shares of First Busey common stock and $14,173.96 in cash, which reflects the adjustments made to the cash consideration in accordance with the terms of the definitive agreement. The fair value of the common shares issued as part of the consideration paid for CAC was determined on the basis of the closing price of the Company’s common shares on the last trading day immediately preceding the acquisition date of May 31, 2021. As additional consideration provided to CAC’s shareholders in the merger, CAC paid a special dividend to its shareholders in the amount of 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. Fair values are considered provisional until final fair values are determined, or the measurement period has passed, but no later than one year from the acquisition date. Measurement period adjustments of As the total consideration paid for CAC exceeded the provisional fair value of net assets acquired, estimated goodwill of $6.2 million was recorded as a result of the acquisition. The amount of goodwill recognized as a result of this transaction is expected to be fully tax deductible for federal income tax purposes in accordance with the Company’s election pursuant to Section 338(h)(10) of the Internal Revenue Code. Goodwill recorded for this transaction reflects synergies expected from the acquisition and expansion within the Chicago-Naperville-Elgin, IL-IN-WI Metropolitan Statistical Area, and was assigned to the Banking operating segment. The following table presents the estimated fair value of CAC’s assets acquired and liabilities assumed as of May 31, 2021 (dollars in thousands) : Fair Value Assets acquired Cash and cash equivalents $ 298,637 Securities 702,367 Portfolio loans, net of ACL 430,470 Premises and equipment 17,034 Other intangible assets 17,340 Mortgage servicing rights 629 Other assets 8,176 Total assets acquired 1,474,653 Liabilities assumed Deposits 1,315,671 Other borrowings 16,651 Other liabilities 19,098 Total liabilities assumed 1,351,420 Net assets acquired $ 123,233 Consideration paid: Cash $ 70,358 Common stock 59,105 Total consideration paid $ 129,463 Goodwill $ 6,230 The fair value of PCD financial assets was $60.5 million on the date of acquisition. Gross contractual amounts receivable relating to the PCD financial assets was $65.2 million. The Company estimated, on the date of acquisition, that $4.2 million of the contractual cash flows specific to the PCD financial assets will not be collected. During three and nine months ended September 30, 2021, First Busey incurred $8.4 million and $11.4 million, respectively, in pre-tax acquisition expenses related to the acquisition of CAC, comprised primarily of professional fees, compensation expense, and data processing expense.

Securities

Securities	9 Months Ended
Securities	Sep. 30, 2021
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) As of September 30, 2021 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses ACL Value Debt securities available for sale U.S. Treasury securities $ 185,636 $ 72 $ (255) $ — $ 185,453 Obligations of U.S. government corporations and agencies 37,784 1,213 — — 38,997 Obligations of states and political subdivisions 288,023 8,743 (754) — 296,012 Commercial mortgage-backed securities 607,097 5,278 (9,078) — 603,297 Residential mortgage-backed securities 2,108,388 13,973 (19,753) — 2,102,608 Asset-backed securities 468,618 323 (134) — 468,807 Corporate debt securities 301,878 1,374 (1,182) — 302,070 Total debt securities available for sale $ 3,997,424 $ 30,976 $ (31,156) $ — $ 3,997,244 As of December 31, 2020 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses ACL Value Debt securities available for sale U.S. Treasury securities $ 27,481 $ 356 $ — $ — $ 27,837 Obligations of U.S. government corporations and agencies 67,406 2,162 (49) — 69,519 Obligations of states and political subdivisions 292,940 11,779 (8) — 304,711 Commercial mortgage-backed securities 408,716 10,212 (312) — 418,616 Residential mortgage-backed securities 1,344,047 24,571 (303) — 1,368,315 Corporate debt securities 70,953 1,237 (1) — 72,189 Total debt securities available for sale $ 2,211,543 $ 50,317 $ (673) — $ 2,261,187 Amortized cost and fair value of debt securities by contractual maturity or pre-refunded date are shown below. Mortgages underlying mortgage-backed securities and asset-backed securities may be called or prepaid; therefore, actual maturities could differ from the contractual maturities. (dollars in thousands) As of September 30, 2021 Amortized Fair Cost Value Debt securities available for sale Due in one year or less $ 103,158 $ 103,787 Due after one year through five years 603,868 608,074 Due after five years through ten years 385,479 393,540 Due after ten years 2,904,919 2,891,843 Total debt securities available for sale $ 3,997,424 $ 3,997,244 Realized gains and losses related to sales and calls of debt securities available for sale are summarized as follows (dollars in thousands) Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Realized gains and losses on sales of debt securities Gross security gains $ — $ 11 $ 524 $ 1,718 Gross security (losses) (5) — (410) (8) Net gains (losses) on sales of debt securities $ (5) $ 11 $ 114 $ 1,710 Debt securities with carrying amounts of $729.2 million on September 30, 2021, and $628.0 million December 31, 2020, were pledged as collateral for public deposits, securities sold under agreements to repurchase, and for other purposes as required. The following information pertains to debt securities with gross unrealized losses, aggregated by investment category and the length of time that individual securities have been in a continuous loss position (dollars in thousands) As of September 30, 2021 Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses Debt securities available for sale U.S. Treasury securities $ 180,317 $ (255) $ — $ — $ 180,317 $ (255) Obligations of states and political subdivisions 55,434 (754) — — 55,434 (754) Commercial mortgage-backed securities 434,220 (9,036) 3,063 (42) 437,283 (9,078) Residential mortgage-backed securities 1,392,160 (19,707) 5,568 (46) 1,397,728 (19,753) Asset-backed securities 51,183 (134) — — 51,183 (134) Corporate debt securities 210,951 (1,182) — — 210,951 (1,182) Total temporarily impaired securities $ 2,324,265 $ (31,068) $ 8,631 $ (88) $ 2,332,896 $ (31,156) As of December 31, 2020 Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses Debt securities available for sale Obligations of U.S. government corporations and agencies $ — $ — $ 4,957 $ (49) $ 4,957 $ (49) Obligations of states and political subdivisions 762 (8) — — 762 (8) Commercial mortgage-backed securities 129,655 (312) — — 129,655 (312) Residential mortgage-backed securities 89,997 (300) 139 (3) 90,136 (303) Corporate debt securities 1,499 (1) — — 1,499 (1) Total temporarily impaired securities $ 221,913 $ (621) $ 5,096 $ (52) $ 227,009 $ (673) 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. The Company’s debt security portfolio consisted of 1,274 securities as of September 30, 2021, compared to 1,114 securities as of December 31, 2020. The number of debt securities in the investment portfolio in an unrealized loss position was 294, representing an unrealized loss of 1.3% of the aggregate fair value, as of September 30, 2021, compared to 23 securities representing an unrealized loss of 0.3% of the aggregate fair value as of December 31, 2020. Unrealized losses related 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 (loss), net of applicable taxes. As of September 30, 2021, 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	9 Months Ended
Portfolio Loans	Sep. 30, 2021
Portfolio Loans
Portfolio loans	Note 4: Portfolio Loans Distributions of portfolio loans are as follows (dollars in thousands) As of September 30, December 31, 2021 2020 Portfolio loans Commercial $ 1,931,863 $ 2,014,576 Commercial real estate 3,068,622 2,892,535 Real estate construction 430,857 461,786 Retail real estate 1,512,884 1,407,852 Retail other 206,409 37,428 Total portfolio loans $ 7,150,635 $ 6,814,177 ACL (92,802) (101,048) Portfolio loans, net $ 7,057,833 $ 6,713,129 Net deferred loan origination costs included in the balances above were $4.9 million as of September 30, 2021, compared to $2.4 million as of December 31, 2020. Net accretable purchase accounting adjustments included in the balances above reduced loans by 31, 2020. The September 30, 2021, commercial balance includes loans originated under PPP with an amortized cost of There were no retail real estate loans purchased during the three months ended September 30, 2021 or 2020. During the nine months ended September 30, 2021, the Company purchased retail real estate loans totaling 30, 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. Commercial lending relationships that are million or less are usually processed through an expedited underwriting process. Most commercial loans greater than million are included in a portfolio review at least annually. Commercial loans greater than million that have a grading of special mention or worse are typically reviewed on a quarterly basis. Interim reviews may take place if circumstances of the borrower warrant a more frequent review. GSB’s policies were similar in nature to Busey Bank’s policies and the Company is migrating the legacy GSB portfolio and grading toward the Busey Bank policies. We acquired two non-accrual loans from GSB totaling The following table is a summary of risk grades segregated by category of portfolio loans (dollars in thousands) As of September 30, 2021 Special Substandard Pass Watch Mention Substandard Non-accrual Portfolio loans Commercial $ 1,718,398 $ 115,108 $ 62,094 $ 26,033 $ 10,230 Commercial real estate 2,623,243 338,270 81,525 18,964 6,620 Real estate construction 413,986 14,464 7 2,400 — Retail real estate 1,486,172 11,724 2,008 4,498 8,482 Retail other 206,372 — — — 37 Total portfolio loans $ 6,448,171 $ 479,566 $ 145,634 $ 51,895 $ 25,369 As of December 31, 2020 Special Substandard Pass Watch Mention Substandard Non-accrual Portfolio loans Commercial $ 1,768,755 $ 136,948 $ 72,447 $ 27,903 $ 8,523 Commercial real estate 2,393,372 383,277 75,486 34,897 5,503 Real estate construction 434,681 24,481 77 2,546 1 Retail real estate 1,382,616 10,264 2,471 3,702 8,799 Retail other 37,324 — — — 104 Total portfolio loans $ 6,016,748 $ 554,970 $ 150,481 $ 69,048 $ 22,930 Risk grades of portfolio loans, further sorted by origination year are as follows (dollars in thousands) As of September 30, 2021 Term Loans Amortized Cost Basis by Origination Year Revolving Risk Grade Ratings 2021 2020 2019 2018 2017 Prior loans Total Commercial Pass $ 468,833 $ 265,204 $ 112,809 $ 90,292 $ 73,553 $ 132,127 $ 575,580 $ 1,718,398 Watch 15,078 5,355 19,783 5,668 7,545 4,287 57,392 115,108 Special 3,011 1,143 2,479 4,385 6,864 12,484 31,728 62,094 Substandard 3,357 3,504 3,321 1,437 1,244 5,552 7,618 26,033 Substandard non-accrual 4,305 444 1,597 — 1,821 63 2,000 10,230 Total commercial 494,584 275,649 139,989 101,782 91,027 154,513 674,318 1,931,863 Commercial real estate Pass 655,907 690,244 463,830 289,396 257,618 245,795 20,453 2,623,243 Watch 41,596 40,404 130,282 62,312 27,226 34,572 1,878 338,270 Special 27,115 7,056 7,551 18,661 10,436 10,430 276 81,525 Substandard 4,894 9,289 1,574 2,072 526 429 180 18,964 Substandard non-accrual 114 761 352 1,962 3,407 24 — 6,620 Total commercial real estate 729,627 747,753 603,588 374,403 299,213 291,250 22,787 3,068,622 Real estate construction Pass 160,719 141,699 93,701 3,918 899 1,249 11,801 413,986 Watch 6,279 6,115 55 276 1,616 123 — 14,464 Special — — 7 — — — — 7 Substandard — 2,400 — — — — — 2,400 Substandard non-accrual — — — — — — — — Total real estate construction 166,999 150,214 93,763 4,193 2,516 1,372 11,801 430,857 Retail real estate Pass 428,556 230,120 107,262 92,875 95,667 313,708 217,984 1,486,172 Watch 2,641 2,666 1,982 1,521 352 270 2,292 11,724 Special 1,979 29 — — — — — 2,008 Substandard 1,630 321 14 73 166 2,210 84 4,498 Substandard non-accrual 500 145 72 546 1,369 4,582 1,268 8,482 Total retail real estate 435,305 233,281 109,330 95,015 97,553 320,771 221,629 1,512,884 Retail other Pass 45,614 25,177 30,366 19,737 9,935 2,658 72,885 206,372 Watch — — — — — — — — Special — — — — — — — — Substandard — — — — — — — — Substandard non-accrual — 11 7 5 14 — — 37 Total retail other 45,614 25,188 30,373 19,742 9,949 2,658 72,885 206,409 Total portfolio loans $ 1,872,128 $ 1,432,087 $ 977,044 $ 595,136 $ 500,258 $ 770,563 $ 1,003,419 $ 7,150,635 As of December 31, 2020 Term Loans Amortized Cost Basis by Origination Year Revolving Risk Grade Ratings 2020 2019 2018 2017 2016 Prior loans Total Commercial Pass $ 812,536 $ 158,307 $ 107,565 $ 93,190 $ 61,847 $ 79,970 $ 455,340 $ 1,768,755 Watch 16,544 22,247 14,954 13,724 2,577 10,943 55,959 136,948 Special Mention 6,402 2,671 2,069 7,164 6,763 13,733 33,645 72,447 Substandard 7,772 3,791 2,371 1,939 819 1,233 9,978 27,903 Substandard non-accrual 150 3,045 451 2,168 641 68 2,000 8,523 Total commercial 843,404 190,061 127,410 118,185 72,647 105,947 556,922 2,014,576 Commercial real estate Pass 717,559 503,977 360,573 384,843 180,555 227,068 18,797 2,393,372 Watch 88,297 110,526 90,412 33,734 32,887 27,023 398 383,277 Special Mention 16,490 8,858 10,490 10,505 7,102 21,808 233 75,486 Substandard 17,445 4,166 1,491 7,812 2,111 1,377 495 34,897 Substandard non-accrual 1,091 776 821 882 286 1,647 — 5,503 Total commercial real estate 840,882 628,303 463,787 437,776 222,941 278,923 19,923 2,892,535 Real estate construction Pass 179,232 171,663 64,025 1,468 761 1,444 16,088 434,681 Watch 18,485 3,657 337 1,838 164 24,481 Special Mention 67 10 — — — — — 77 Substandard 2,400 — — — 146 — — 2,546 Substandard non-accrual — — — — — 1 — 1 Total real estate construction 200,184 175,330 64,362 3,306 1,071 1,445 16,088 461,786 Retail real estate Pass 319,302 162,711 135,065 136,427 140,600 257,147 231,364 1,382,616 Watch 2,715 2,053 1,396 349 579 233 2,939 10,264 Special Mention 509 — — — 1,962 — — 2,471 Substandard 899 96 56 26 727 1,631 267 3,702 Substandard non-accrual 687 78 646 1,147 233 4,815 1,193 8,799 Total retail real estate 324,112 164,938 137,163 137,949 144,101 263,826 235,763 1,407,852 Retail other Pass 8,357 9,430 5,600 2,516 691 440 10,290 37,324 Watch — — — — — — — — Special Mention — — — — — — — — Substandard — — — — — — — — Substandard non-accrual 14 7 5 15 5 57 1 104 Total retail other 8,371 9,437 5,605 2,531 696 497 10,291 37,428 Total portfolio loans $ 2,216,953 $ 1,168,069 $ 798,327 $ 699,747 $ 441,456 $ 650,638 $ 838,987 $ 6,814,177 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) As of September 30, 2021 Loans past due, still accruing Non-accrual 30-59 Days 60-89 Days 90+Days Loans Past due and non-accrual loans Commercial $ 1,092 $ 202 $ — $ 10,230 Commercial real estate 882 — — 6,620 Real estate construction — — — — Retail real estate 2,068 2,020 491 8,482 Retail other 182 — — 37 Total past due and non-accrual loans $ 4,224 $ 2,222 $ 491 $ 25,369 As of December 31, 2020 Loans past due, still accruing Non-accrual 30-59 Days 60-89 Days 90+Days Loans Past due and non-accrual loans Commercial $ 243 $ — $ — $ 8,523 Commercial real estate — — — 5,503 Real estate construction 237 235 — 1 Retail real estate 6,248 400 1,305 8,799 Retail other 66 149 66 104 Total past due and non-accrual loans $ 6,794 $ 784 $ 1,371 $ 22,930 Gross interest income recorded on 90+ days past due loans, and that would have been recorded on non-accrual loans if they had been accruing interest in accordance with their original terms, was $0.3 million and $1.2 million for the three and nine months ended September 30, 2021, respectively. Gross interest income recorded on 90+ days past due loans and that would have been recorded on non-accrual loans if they had been accruing interest in accordance with their original terms was 30, 2020, respectively. The amount of interest collected on those loans and recognized on a cash basis that was included in interest income was A summary of TDRs is as follows (dollars in thousands) As of September 30, December 31, 2021 2020 TDRs In compliance with modified terms $ 2,083 $ 3,814 30 – — 15 Non-performing TDRs 1,285 1,249 Total TDRs $ 3,368 $ 5,078 The following tables summarize TDRs that occurred during the periods presented (dollars in thousands) Three Months Ended September 30, 2021 Nine Months Ended September 30, 2021 Recorded Investment Recorded Investment Number of Rate Payment Number of Rate Payment Contracts Modification (1) Modification (1) Contracts Modification (1) Modification (1) Newly designated TDRs Commercial — $ — $ — 1 $ 444 $ — Three Months Ended September 30, 2020 Nine Months Ended September 30, 2020 Recorded Investment Recorded Investment Number of Rate Payment Number of Rate Payment Contracts Modification (1) Modification (1) Contracts Modification (1) Modification (1) Newly designated TDRs Commercial — $ — $ — 3 $ 324 $ — Commercial real estate — — — 1 651 — Retail real estate 1 — 167 2 — 353 (1) TDRs may include multiple concessions; those that include an interest rate concession and payment concession are shown in the rate modification columns. There were no TDRs that were entered into during the last 12 months that subsequently 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 nine months ended September 30, 2021 or 2020. During the nine months ended September 30, 2021, one retail real estate loan for $0.1 million that had been a performing TDR for longer than 12 months, with a rate modification, became non-performing. Gross interest income that would have been recorded in the three and nine months ended September 30, 2021 and 2020, if TDRs had performed in accordance with their original terms compared with their modified terms, was insignificant. Modified loans with payment deferrals that fall under the CARES Act or revised Interagency Statement that suspended requirements under GAAP related to TDR classification are not included in the Company’s TDR totals. As of September 30, 2021, the Company had $0.2 million of residential real estate in the process of foreclosure. The Company follows Federal Housing Finance Agency guidelines on single-family foreclosures and real estate owned evictions on portfolio loans, as well as all COVID-19 related state foreclosure and eviction orders. The following tables provide details of loans evaluated individually, segregated by category. The Company evaluates loans with disparate risk characteristics on an individual basis. The unpaid contractual principal balance represents the customer outstanding balance excluding any partial charge-offs. Amortized cost represents customer balances net of any partial charge-offs recognized on the loan. Average amortized cost is calculated using the most recent four quarters (dollars in thousands) As of September 30, 2021 Unpaid Amortized Contractual Cost Amortized Total Average Principal with No Cost Amortized Related Amortized Balance Allowance with Allowance Cost Allowance Cost Loans evaluated on an individual basis Commercial $ 14,233 $ 2,003 $ 8,203 $ 10,206 $ 4,450 $ 8,945 Commercial real estate 7,188 6,222 — 6,222 — 6,906 Real estate construction 276 276 — 276 — 338 Retail real estate 4,020 3,637 25 3,662 25 4,630 Retail other — — — — — — Total loans evaluated individually $ 25,717 $ 12,138 $ 8,228 $ 20,366 $ 4,475 $ 20,819 As of December 31, 2020 Unpaid Amortized Contractual Cost Amortized Total Average Principal with No Cost Amortized Related Amortized Balance Allowance with Allowance Cost Allowance Cost Loans evaluated on an individual basis Commercial $ 16,771 $ 4,001 $ 4,371 $ 8,372 $ 1,600 $ 7,920 Commercial real estate 7,406 6,067 — 6,067 — 9,349 Real estate construction 292 292 — 292 — 581 Retail real estate 5,873 5,490 25 5,515 25 7,439 Retail other — — — — — 10 Total loans evaluated individually $ 30,342 $ 15,850 $ 4,396 $ 20,246 $ 1,625 $ 25,299 Management's evaluation as to the ultimate collectability of loans includes estimates regarding future cash flows from operations and the value of property, real and personal, pledged as collateral. These estimates are affected by changing economic conditions and the economic prospects of borrowers. Collateral dependent loans are loans in which repayment is expected to be provided solely by the underlying collateral and there are no other available and reliable sources of repayment. Loans are written down to the lower of cost or fair value of underlying collateral, less estimated costs to sell. As of September 30, 2021, there were Management estimates the ACL balance using relevant available information from internal and external sources relating to past events, current conditions, and reasonable and supportable forecasts. Historical credit loss experience provides the basis for the estimation of expected credit losses. The cumulative loss rate used as the basis for the estimate of credit losses is comprised of the Company’s historical loss experience beginning in 2010. As of September 30, 2021, the Company expects the markets in which it operates to experience continued economic uncertainty around the levels 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 ACL calculation as they are 100% government guaranteed. The following tables detail activity in the ACL. Allocation of a portion of the ACL 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 September 30, 2021 Commercial Real Estate Retail Real Commercial Real Estate Construction Estate Retail Other Total ACL beginning balance $ 24,356 $ 39,974 $ 7,599 $ 20,505 $ 2,976 $ 95,410 Provision for credit losses 657 (25) (1,503) (1,155) 157 (1,869) Charged-off (764) (191) — (155) (98) (1,208) Recoveries 157 73 25 157 57 469 ACL ending balance $ 24,406 $ 39,831 $ 6,121 $ 19,352 $ 3,092 $ 92,802 As of and for the Nine Months Ended September 30, 2021 Commercial Real Estate Retail Commercial Real Estate Construction Real Estate Retail Other Total ACL beginning balance $ 23,866 $ 46,230 $ 8,193 $ 21,992 $ 767 $ 101,048 Day 1 PCD (1) 3,546 336 — 129 167 4,178 Provision for credit losses (1,428) (6,109) (2,082) (3,028) 2,282 (10,365) Charged-off (2,026) (812) (209) (315) (349) (3,711) Recoveries 448 186 219 574 225 1,652 ACL ending balance $ 24,406 $ 39,831 $ 6,121 $ 19,352 $ 3,092 $ 92,802 (1) The Day 1 PCD is attributable to the CAC acquisition. As of and for the Three Months Ended September 30, 2020 Commercial Real Estate Retail Real Commercial Real Estate Construction Estate Retail Other Total ACL beginning balance $ 24,146 $ 42,680 $ 7,792 $ 20,405 $ 1,023 $ 96,046 Provision for credit losses 2,593 3,703 (381) (383) 17 5,549 Charged-off (2,500) (569) (18) (139) (171) (3,397) Recoveries 124 103 26 301 89 643 ACL ending balance $ 24,363 $ 45,917 $ 7,419 $ 20,184 $ 958 $ 98,841 As of and for the Nine Months Ended September 30, 2020 Commercial Real Estate Retail Real Commercial Real Estate Construction Estate Retail Other Total Beginning balance, prior to adoption of ASC $ 18,291 $ 21,190 $ 3,204 $ 10,495 $ 568 $ 53,748 Adoption of ASC 715 9,306 2,954 3,292 566 16,833 Provision for credit losses 10,739 17,090 1,082 6,635 110 35,656 Charged-off (5,682) (1,833) (18) (1,139) (575) (9,247) Recoveries 300 164 197 901 289 1,851 ACL ending balance $ 24,363 $ 45,917 $ 7,419 $ 20,184 $ 958 $ 98,841 The following table presents the ACL and amortized cost of portfolio loans by category (dollars in thousands) As of September 30, 2021 Commercial Real Estate Retail Real Commercial Real Estate Construction Estate Retail Other Total ACL Ending balance attributed to: Loans individually evaluated for impairment $ 4,450 $ — $ — $ 25 $ — $ 4,475 Loans collectively evaluated for impairment 19,956 39,831 6,121 19,327 3,092 88,327 ACL ending balance $ 24,406 $ 39,831 $ 6,121 $ 19,352 $ 3,092 $ 92,802 Loans Loans individually evaluated for impairment $ 10,206 $ 6,222 $ 276 $ 3,662 $ — $ 20,366 Loans collectively evaluated for impairment 1,921,657 3,062,400 430,581 1,509,222 206,409 7,130,269 Loans ending balance $ 1,931,863 $ 3,068,622 $ 430,857 $ 1,512,884 $ 206,409 $ 7,150,635 As of December 31, 2020 Commercial Real Estate Retail Real Commercial Real Estate Construction Estate Retail Other Total ACL Ending balance attributed to: Loans individually evaluated for impairment $ 1,600 $ — $ — $ 25 $ — $ 1,625 Loans collectively evaluated for impairment 22,266 46,230 8,193 21,967 767 99,423 ACL ending balance $ 23,866 $ 46,230 $ 8,193 $ 21,992 $ 767 $ 101,048 Loans Loans individually evaluated for impairment $ 8,372 $ 6,067 $ 292 $ 5,515 $ — $ 20,246 Loans collectively evaluated for impairment 2,006,204 2,886,468 461,494 1,402,337 37,428 6,793,931 Loans ending balance $ 2,014,576 $ 2,892,535 $ 461,786 $ 1,407,852 $ 37,428 $ 6,814,177

Deposits

Deposits	9 Months Ended
Deposits	Sep. 30, 2021
Deposits
Deposits	Note 5: Deposits The composition of deposits is as follows (dollars in thousands) As of September 30, December 31, 2021 2020 Deposits Demand deposits, noninterest-bearing $ 3,453,906 $ 2,552,039 Interest-bearing transaction deposits 2,938,109 2,263,093 Saving deposits and money market deposits 3,398,917 2,743,369 Time deposits 1,026,935 1,119,348 Total deposits $ 10,817,867 $ 8,677,849 Additional information about our deposits is as follows (dollars in thousands) As of September 30, December 31, 2021 2020 Brokered savings deposits and money market deposits $ 2,002 $ 2,251 Brokered time deposits 264 5,257 Aggregate amount of time deposits with a minimum denomination of $100,000 504,367 568,735 Aggregate amount of time deposits with a minimum denomination that meets or exceeds the FDIC insurance limit of $250,000 156,419 192,563 As of September 30, 2021, the scheduled maturities of time deposits are as follows (dollars in thousands) As of September 30, 2021 Time deposits by schedule of maturities October 1, 2021 – September 30, 2022 $ 719,932 October 1, 2022 – September 30, 2023 188,639 October 1, 2023 – September 30, 2024 85,339 October 1, 2024 – September 30, 2025 20,008 October 1, 2025 – September 30, 2026 12,280 Thereafter 737 Total time deposits $ 1,026,935

Borrowings

Borrowings	9 Months Ended
Borrowings	Sep. 30, 2021
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. (dollars in thousands) As of September 30, December 31, 2021 2020 Securities sold under agreements to repurchase $ 241,242 $ 175,614 Weighted average rate for securities sold under agreements to repurchase 0.08 % 0.13 % On May 28, 2021, the Company entered into a Second Amended and Restated Credit Agreement, pursuant to which the Company has access to (i) a $40.0 million revolving line of credit with a termination date of April 30, 2022, and (ii) a $60.0 million term loan with a maturity date of May 31, 2026. The loans have an annual interest rate of 1.75 % plus the one-month LIBOR rate. Proceeds of the term loan were used to fund a part of the cash portion of the merger consideration related to the acquisition of CAC and for general corporate purposes. The revolving credit facility incurs a non-usage fee based on any undrawn amounts. As of September 30, 2021, there was no balance outstanding on the revolving credit facility and a total of $57.0 million outstanding on the term loan. Short-term borrowings are summarized as follows (dollars in thousands) As of September 30, December 31, 2021 2020 Short-term borrowings FHLB advances maturing in less than one year from date of origination, and the current portion of long-term FHLB advances due within 12 months $ 5,673 $ 4,658 Term Loan, current portion due within 12 months 12,000 — Total short-term debt $ 17,673 $ 4,658 Federal funds purchased are short-term borrowings that generally mature between one . The Company had Long-term debt is summarized as follows (dollars in thousands) As of September 30, December 31, 2021 2020 Long-term debt Notes payable, FHLB, original maturity of 5 years, collateralized by FHLB deposits, residential and commercial real estate loans and FHLB stock $ 4,233 $ 4,757 Term Loan 45,000 — Total long-term debt $ 49,233 $ 4,757 As of September 30, 2021, and December 31, 2020, funds borrowed from the FHLB, listed above, consisted of one variable-rate note maturing May 2023, with an interest rate of 3.04%. 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 25, 2027. The subordinated notes, which qualify as Tier 2 capital for First Busey, bear interest at an annual rate of , 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 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. 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 , as calculated on each applicable determination date. The subordinated notes are payable semi-annually on each June 1 and December 1 during the 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 senior notes and subordinated notes are presented in the following table (dollars in thousands) As of September 30, December 31, 2021 2020 Unamortized debt issuance costs Senior notes issued in 2017 $ 90 $ 191 Subordinated notes issued in 2017 575 651 Subordinated notes issued in 2020 1,788 2,123 Total unamortized debt issuance costs $ 2,453 $ 2,965

Regulatory Capital

Regulatory Capital	9 Months Ended
Regulatory Capital	Sep. 30, 2021
Regulatory Capital
Regulatory Capital	Note 7: Regulatory Capital The Company and its subsidiary 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. Capital amounts and classification also are subject to qualitative judgments by regulators about components, risk weightings, and other factors. Banking regulations identify five capital categories for insured depository institutions: well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized, and critically undercapitalized. As of September 30, 2021, and December 31, 2020, all capital ratios of the Company and its subsidiary bank exceeded well capitalized levels under the applicable regulatory capital adequacy guidelines. Management believes that no events or changes have occurred subsequent to September 30, 2021, 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. On August 26, 2020, the CECL final rule was finalized and was substantially similar to the interim final rule. Under this 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, until January 1, 2022. In addition, 25 percent of the ongoing impact of CECL on our ACL, retained earnings, and average total consolidated assets from January 1, 2020, through the end of the two-year deferral period, each as reported for regulatory capital purposes, 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 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. The following tables summarize regulatory capital requirements applicable to the holding company its subsidiary bank (dollars in thousands) As of September 30, 2021 Minimum Minimum To Be Well Actual Capital Requirement Capitalized Amount Ratio Amount Ratio Amount Ratio Total Capital (to Risk Weighted Assets) Consolidated $ 1,313,989 15.91 % $ 660,850 8.00 % $ 826,062 10.00 % Busey Bank $ 1,306,293 15.87 % $ 658,612 8.00 % $ 823,265 10.00 % Tier 1 Capital (to Risk Weighted Assets) Consolidated $ 1,060,756 12.84 % $ 495,637 6.00 % $ 660,850 8.00 % Busey Bank $ 1,238,060 15.04 % $ 493,959 6.00 % $ 658,612 8.00 % Common Equity Tier 1 Capital (to Risk Weighted Assets) Consolidated $ 986,756 11.95 % $ 371,728 4.50 % $ 536,940 6.50 % Busey Bank $ 1,238,060 15.04 % $ 370,469 4.50 % $ 535,123 6.50 % Tier 1 Capital (to Average Assets) Consolidated $ 1,060,756 8.60 % $ 493,201 4.00 % N/A N/A Busey Bank $ 1,238,060 10.06 % $ 492,170 4.00 % $ 615,212 5.00 % As of December 31, 2020 Minimum Minimum To Be Well Actual Capital Requirement Capitalized Amount Ratio Amount Ratio Amount Ratio Total Capital (to Risk Weighted Assets) Consolidated $ 1,245,997 17.04 % $ 585,015 8.00 % $ 731,269 10.00 % Busey Bank $ 1,131,875 15.50 % $ 584,082 8.00 % $ 730,103 10.00 % Tier 1 Capital (to Risk Weighted Assets) Consolidated $ 983,033 13.44 % $ 438,761 6.00 % $ 585,015 8.00 % Busey Bank $ 1,053,910 14.44 % $ 438,062 6.00 % $ 584,082 8.00 % Common Equity Tier 1 Capital (to Risk Weighted Assets) Consolidated $ 909,033 12.43 % $ 329,071 4.50 % $ 475,325 6.50 % Busey Bank $ 1,053,910 14.44 % $ 328,546 4.50 % $ 474,567 6.50 % Tier 1 Capital (to Average Assets) Consolidated $ 983,033 9.79 % $ 401,717 4.00 % N/A N/A Busey Bank $ 1,053,910 10.52 % $ 400,581 4.00 % $ 500,727 5.00 % In July 2013, U.S. federal banking authorities approved the Basel III Rule for strengthening international capital standards. The Basel III Rule introduced a capital conservation buffer, composed entirely of Common Equity Tier 1 Capital, which is added to the minimum risk-weighted asset ratios. The capital conservation buffer is not a minimum capital requirement; however, banking institutions with a ratio of Common Equity Tier 1 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) total capital to risk-weighted assets of at least 10.50%, (ii) Tier 1 Capital to risk-weighted assets of at least 8.50%, and (iii) Common Equity Tier 1 to risk-weighted assets of at least 7.00%.

Employee Benefit Plans

Employee Benefit Plans	9 Months Ended
Employee Benefit Plans	Sep. 30, 2021
Employee Benefit Plans
Employee Benefit Plans	Note 8: Employee Benefit Plans The First Busey Corporation 2021 Employee Stock Purchase Plan was approved at the Company’s 2021 Annual Meeting of Stockholders and details can be found within First Busey’s Definitive Proxy Statement filed with the SEC on April 8, 2021. The first offering under this plan began on July 1, 2021. There were For additional information related to the Company’s employee benefit plans, see the Company’s 2020 Annual Report.

Stock-based Compensation

Stock-based Compensation	9 Months Ended
Stock-based Compensation	Sep. 30, 2021
Stock-based Compensation
Stock-based Compensation	Note 9: Stock-Based Compensation Under the terms of the 2020 Equity Plan, the Company has granted RSU, DSU, and PSU awards. The Company grants RSUs to members of management periodically throughout the year. Each RSU is equivalent to share of the Company’s common stock. These units have requisite service periods ranging from one , subject to accelerated vesting upon eligible retirement from the Company. 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. The Company grants DSUs, which are restricted stock units with a deferred settlement date, to its directors and advisory directors. Each DSU is equivalent to share of the Company’s common stock. DSUs vest over a period following the grant date. These units generally are subject to the same terms as RSUs under the 2020 Equity Plan, except that, following vesting, settlement occurs within change in control of the Company. After vesting and prior to delivery, these units will continue to earn dividend equivalents. The Company also grants PSU awards to members of management periodically throughout the year. Each PSU is equivalent to share of the Company’s common stock. The number of units that ultimately vest will be determined based on the achievement of the market or other performance goals, subject to accelerated service-based vesting conditions upon eligible retirement from the Company. The Company has outstanding stock options assumed from acquisitions. Upon vesting/delivery, shares are expected (though not required) to be issued from treasury. Stock Options A summary of the status of, and changes in, the Company's stock option awards for the nine months ended September 30, 2021 follows: Weighted- Weighted- Average Average Remaining Exercise Contractual Shares Price Life Outstanding at beginning of period 39,085 $ 23.53 5.88 Expired (7,479) 23.53 Outstanding at end of period 31,606 $ 23.53 5.13 Exercisable at end of period 31,606 $ 23.53 5.13 The Company did not record any stock option compensation expense for the three or nine months ended September 30, 2021, or 2020. As of September 30, 2021, the Company did not have any unrecognized stock option expense. Restricted Stock Unit, Performance-Based Restricted Stock Unit, and Deferred Stock Unit Awards A summary of changes in the Company’s RSU, PSU, and DSU awards for the nine months ended September 30, 2021, is as follows: RSU Awards PSU Awards DSU Awards Weighted- Weighted- Weighted- Average Average Average Grant Date Grant Date Grant Date Shares Fair Value Shares (1) Fair Value Shares Fair Value Nonvested at beginning of period 1,017,038 $ 23.87 15,724 $ 16.25 34,263 $ 17.18 Granted 260,231 24.26 99,159 23.91 35,664 24.59 Dividend equivalents earned 33,388 23.07 — — 3,716 23.15 Vested (128,824) 22.88 — — (39,813) 18.08 Forfeited (29,883) 24.88 (968) 23.48 — — Nonvested at end of period 1,151,950 $ 24.02 113,915 $ 22.86 33,830 $ 24.59 Vested and outstanding at end of period 96,427 $ 21.99 (1) Shares for PSU awards represent target shares at grant date. On March 24, 2021, under the terms of the 2020 Equity Plan, the Company granted 212,426 RSUs to members of management, including the Vice-Chairman of the Board. The grant date fair value of the award totaled . The terms of these awards included an accelerated vesting provision upon eligible retirement from the Company, after a minimum requisite service period. Subsequent to the requisite service period, the awards will become vested. Further, the Company granted DSUs to directors and advisory directors. The grant date fair value of the award totaled . Subsequent to the requisite service period, the awards will become During the first quarter of 2021, the Company also granted a target of 70,815 market-based PSUs with a maximum award of 113,304 units. The actual number of units issued at the vesting date could range from of the initial grant, depending on attaining the market-based total shareholder return performance goal. The grant date fair value of the award was Further, during the first quarter of 2021, the Company granted a target of 28,344 PSUs with a maximum award of 39,682 units. The actual number of units issued at the vesting date could range from of the initial grant, depending on attaining a performance goal based upon the compounded annual revenue growth rate of the Remittance Processing segment. The grant date fair value of the award is On May 19, 2021, under the terms of the 2020 Equity Plan, the Company granted 2,376 DSUs to directors. The grant date fair value of the award totaled . Subsequent to the requisite service period, the awards will become On September 22, 2021, under the terms of the 2020 Equity Plan, the Company granted 47,805 RSUs to members of management. The grant date fair value of the award totaled . Subsequent to the requisite service period, the awards will become Stock-based compensation expense related to nonvested RSU, PSU, and DSU awards is presented in the table below (dollars in thousands) Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Stock-based compensation RSU awards $ 1,316 $ 2,029 $ 4,362 $ 3,952 PSU awards 290 41 619 41 DSU awards 231 135 741 420 Total stock-based compensation $ 1,837 $ 2,205 $ 5,722 $ 4,413 Unamortized stock-based compensation expense related to nonvested RSU, PSU, and DSU awards is presented in the table below (dollars in thousands) As of September 30, December 31, 2021 2020 Unamortized stock-based compensation RSU awards $ 11,650 $ 10,411 PSU awards 1,554 179 DSU awards 430 294 Total unamortized stock-based compensation $ 13,634 $ 10,884 Weighted average period over which expense is to be recognized 3.0 yrs 3.0 yrs There were 1,038,975 shares remaining available for issuance pursuant to the 2020 Equity Incentive Plan as of September 30, 2021.

Outstanding Commitments and Con

Outstanding Commitments and Contingent Liabilities	9 Months Ended
Outstanding Commitments and Contingent Liabilities	Sep. 30, 2021
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 Company’s financial position or results of operations. 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) As of September 30, December 31, 2021 2020 Financial instruments whose contract amounts represent credit risk Commitments to extend credit $ 1,836,815 $ 1,754,370 Standby letters of credit 38,329 38,937 Total commitments $ 1,875,144 $ 1,793,307

Derivative Financial Instrument

Derivative Financial Instruments	9 Months Ended
Derivative Financial Instruments	Sep. 30, 2021
Derivative Financial Instruments
Derivative Financial Instruments	Note 11: 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 12: Fair Value Measurements Interest Rate Swaps Designated as Cash Flow Hedges The Company entered into derivative instruments designated as cash flow hedges. For a derivative instrument that is designated and qualifies as a cash flow hedge, the change in fair value of the derivative instrument is reported as a component of other comprehensive income (loss) and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. The change in fair value of components excluded from the assessment of effectiveness are recognized in current earnings. Interest rate swaps with notional amounts totaling $50.0 million as of September 30, 2021, and $70.0 million as of December 31, 2020, 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. A million swap matured on September 17, 2021, and the Company has one remaining swap. The gross aggregate fair value of the swaps of 31, 2020, is recorded in other liabilities in the unaudited Consolidated Balance Sheets, with changes in fair value recorded net of tax in other comprehensive income (loss). The Company expects its hedge to remain highly effective during the remaining term of the swap. A summary of the interest-rate swaps designated as cash flow hedges is presented below (dollars in thousands) As of September 30, December 31, 2021 2020 Notional amount $ 50,000 $ 70,000 Weighted average fixed pay rates 1.79 % 1.80 % Weighted average variable 3-month LIBOR receive rates 0.12 % 0.22 % Weighted average maturity, in years 2.96 yrs 2.85 yrs Unrealized gains (losses), net of tax $ (1,237) $ (2,184) Interest expense recorded on these swap transactions was $0.3 million and $0.9 million during the three and nine months ended September 30, 2021, respectively, and was $0.3 million and $0.5 million during the three and nine months ended September 30, 2020, respectively. The Company expects million of the unrealized loss to be reclassified from OCI to interest expense during the next three 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 September 30, 2021. The following table reflects 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 periods presented (dollars in thousands) Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Interest rate contracts Gain (loss) recognized in OCI, net of tax $ (5) $ 14 $ 336 $ (2,233) (Gain) loss reclassified from OCI to interest expense, net of tax 206 192 611 42 Net change in unrealized gains (losses) on cash flow hedges $ 201 $ 206 $ 947 $ (2,191) The Company pledged $1.8 million in cash to secure its obligation under these contracts as of September 30, 2021, compared to $3.2 million pledged as of December 31, 2020. Interest Rate Lock Commitments Interest rate lock commitments that meet the definition of derivative financial instruments under ASC Topic 815, Derivatives and Hedging Forward Sales Commitments The Company economically hedges mortgage loans held for sale and interest rate lock commitments issued to its residential loan customers related to loans that will be held for sale by obtaining corresponding best-efforts forward sales commitments with an investor to sell the loans at an agreed-upon price at the time the interest rate locks are issued to the customers. Forward sales commitments that meet the definition of derivative financial instruments under ASC Topic 815, Derivatives and Hedging , are carried at their fair values in other assets or other liabilities in the unaudited consolidated financial statements. While such forward sales commitments generally served as an economic hedge to 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. Amounts and fair values of mortgage banking derivatives included in the unaudited Consolidated Balance Sheets are summarized as follows (dollars in thousands) As of September 30, 2021 As of December 31, 2020 Notional Fair Notional Fair Location Amount Value Amount Value Derivatives with positive fair value Interest rate lock commitments Other assets $ 31,480 $ 538 $ 45,004 $ 1,201 Forward sales commitments Other assets 117 1 978 32 Mortgage banking derivatives recorded in other assets $ 31,597 $ 539 $ 45,982 $ 1,233 Derivatives with negative fair value Interest rate lock commitments Other liabilities $ 117 $ 1 $ 118 $ 1 Forward sales commitments Other liabilities 49,418 1,439 84,964 2,662 Mortgage banking derivatives recorded in other liabilities $ 49,535 $ 1,440 $ 85,082 $ 2,663 Net gains (losses) relating to these derivative instruments are summarized as follows for the periods presented (dollars in thousands) Three Months Ended September 30, Nine Months Ended September 30, Location 2021 2020 2021 2020 Net gains (losses) Interest rate lock commitments Mortgage revenue $ 537 $ 1,405 $ 1,502 $ 8,467 Forward sales commitments Mortgage revenue (1,438) (3,874) (3,616) (15,699) Net gains (losses) $ (901) $ (2,469) $ (2,114) $ (7,232) 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 equal and offsetting derivative agreements with a third-party dealer. These contracts support variable rate, commercial loan relationships totaling 31, 2020, 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. Amounts and fair values of derivative assets and liabilities related to customer interest rate swaps recorded in the unaudited Consolidated Balance Sheets are summarized as follows (dollars in thousands) As of September 30, 2021 Derivative Asset Derivative Liability Notional Fair Notional Fair Amount Value Amount Value Derivatives not designated as hedging instruments Interest rate swaps – pay floating, receive fixed $ 332,856 $ 19,420 $ 91,711 $ 1,910 Interest rate swaps – pay fixed, receive floating 91,711 1,910 332,856 19,420 Total derivatives not designated as hedging instruments $ 424,567 $ 21,330 $ 424,567 $ 21,330 As of December 31, 2020 Derivative Asset Derivative Liability Notional Fair Notional Fair Amount Value Amount Value Derivatives not designated as hedging instruments Interest rate swaps – pay floating, receive fixed $ 394,954 $ 32,685 $ — $ — Interest rate swaps – pay fixed, receive floating — — 394,954 32,685 Total derivatives not designated as hedging instruments $ 394,954 $ 32,685 $ 394,954 $ 32,685 Changes in fair value of these derivative assets and liabilities are recorded in noninterest expense in the unaudited Consolidated Statements of Income and summarized as follows (dollars in thousands) Three Months Ended September 30, Nine Months Ended September 30, Location 2021 2020 2021 2020 Interest rate swaps Pay floating, receive fixed Noninterest expense $ (2,024) $ (549) $ (11,355) $ 25,790 Pay fixed, receive floating Noninterest expense 2,024 549 11,355 (25,790) Net change in fair value of interest rate swaps $ — $ — $ — $ — The Company pledged $26.3 million in cash to secure its obligation under these contracts as of September 30, 2021, compared to $36.0 million pledged as of December 31, 2020.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
Fair Value Measurements	Sep. 30, 2021
Fair Value Measurements
Fair Value Measurements	Note 12: 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. Models and processes take into account market conventions. For each asset class, a team of evaluators gathers information from market sources and integrates relevant credit information, perceived market movements, and sector news into the evaluated pricing applications and models. Market inputs that the independent pricing service normally seeks for evaluations of securities, listed in approximate order of priority, include: benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, and reference data including market research publications. The independent pricing service also monitors market indicators, industry, and economic events. For certain security types, additional inputs may be used or some of the market inputs may not be applicable. Evaluators may prioritize inputs differently on any given day for any security based on market conditions, and not all inputs listed are available for use in the evaluation process for each security evaluation on a given day. Because the data utilized was observable, the securities have been classified as Level 2. Equity Securities Equity securities are reported at fair value utilizing Level 1 or Level 2 measurements. As applicable, for mutual funds, unadjusted quoted prices in active markets for identical assets are utilized to determine fair value at the measurement date and are 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. Fair values of derivative assets and liabilities are 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 tables summarize financial assets and financial liabilities measured at fair value on a recurring basis as of September 30, 2021, and December 31, 2020, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value (dollars in thousands) As of September 30, 2021 Level 1 Level 2 Level 3 Total Inputs Inputs Inputs Fair Value Debt securities available for sale: U.S. Treasury securities $ — $ 185,453 $ — $ 185,453 Obligations of U.S. government corporations and agencies — 38,997 — 38,997 Obligations of states and political subdivisions — 296,012 — 296,012 Commercial mortgage-backed securities — 603,297 — 603,297 Residential mortgage-backed securities — 2,102,608 — 2,102,608 Asset-backed securities — 468,807 — 468,807 Corporate debt securities — 302,070 — 302,070 Equity securities — 13,012 — 13,012 Loans held for sale — 20,225 — 20,225 Derivative assets — 21,869 — 21,869 Derivative liabilities — 24,501 — 24,501 As of December 31, 2020 Level 1 Level 2 Level 3 Total Inputs Inputs Inputs Fair Value Debt securities available for sale: U.S. Treasury securities $ — $ 27,837 $ — $ 27,837 Obligations of U.S. government corporations and agencies — 69,519 — 69,519 Obligations of states and political subdivisions — 304,711 — 304,711 Commercial mortgage-backed securities — 418,616 — 418,616 Residential mortgage-backed securities — 1,368,315 — 1,368,315 Corporate debt securities — 72,189 — 72,189 Equity securities — 5,530 — 5,530 Loans held for sale — 42,813 — 42,813 Derivative assets — 33,918 — 33,918 Derivative liabilities — 38,403 — 38,403 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 unobservable inputs, fair values of individually evaluated collateral dependent loans have been classified as Level 3. OREO Non-financial assets 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 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. Fair values were based upon discounted appraisals or real estate listing prices. Due to the significance of unobservable inputs, fair values of all bank property held for sale have been classified as Level 3. The following tables summarize assets and liabilities measured at fair value on a non-recurring basis for the periods presented, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value (dollars in thousands) As of September 30, 2021 Level 1 Level 2 Level 3 Total Inputs Inputs Inputs Fair Value Loans evaluated individually $ — $ — $ 3,753 $ 3,753 OREO — — 51 51 Bank property held for sale — — 6,150 6,150 As of December 31, 2020 Level 1 Level 2 Level 3 Total Inputs Inputs Inputs Fair Value Loans evaluated individually $ — $ — $ 2,771 $ 2,771 OREO — — 106 106 Bank property held for sale — — 10,676 10,676 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 September 30, 2021: Estimate Techniques Input (Weighted Average) Loans evaluated individually $ 3,753 Appraisal of collateral Appraisal adjustments -18.0 % to -100.0 % (-54.4) % OREO 51 Appraisal of collateral Appraisal adjustments -33.0 % to -100.0 % (-67.9) % Bank property held for sale 6,150 Appraisal of collateral or real estate listing price Appraisal adjustments -6.2 % to -64.9 % (-41.2) % December 31, 2020: Loans evaluated individually $ 2,771 Appraisal of collateral Appraisal adjustments -30.0 % to -100.0 % (-37.0) % OREO 106 Appraisal of collateral Appraisal adjustments -25.0 % to -100.0 % (-54.5) % Bank property held for sale 10,676 Appraisal of collateral or real estate listing price Appraisal adjustments -6.2 % to -64.9 % (-42.8) % 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) As of September 30, 2021 As of December 31, 2020 Carrying Fair Carrying Fair Amount Value Amount Value Financial assets Level 1 inputs: Cash and cash equivalents $ 883,845 $ 883,845 $ 688,537 $ 688,537 Level 2 inputs: Accrued interest receivable 33,545 33,545 33,240 33,240 Level 3 inputs: Portfolio loans, net 7,057,833 7,108,483 6,713,129 6,755,425 Mortgage servicing rights 9,247 11,011 10,912 11,107 Other servicing rights 1,680 2,127 1,434 1,966 Financial liabilities Level 2 inputs: Time deposits $ 1,026,935 $ 1,029,879 $ 1,119,348 $ 1,132,107 Securities sold under agreements to repurchase 241,242 241,242 175,614 175,614 Short-term borrowings 17,673 17,671 4,658 4,661 Long-term debt 49,233 49,323 4,757 5,014 Junior subordinated debt owed to unconsolidated trusts 71,593 62,840 71,468 59,943 Accrued interest payable 5,435 5,435 3,401 3,401 Level 3 inputs: Senior notes, net of unamortized issuance costs 39,910 40,700 39,809 40,104 Subordinated notes, net of unamortized issuance costs 182,637 196,350 182,226 187,697

Earnings Per Common Share

Earnings Per Common Share	9 Months Ended
Earnings Per Common Share	Sep. 30, 2021
Earnings Per Common Share
Earnings Per Common Share	Note 13: Earnings Per Common Share Basic earnings per share is computed by dividing net income for the period by the weighted average number of common shares outstanding, which include 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 RSUs were vested. Earnings per common share have been computed as follows (dollars in thousands, except per share amounts) Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Net income $ 25,941 $ 30,829 $ 93,523 $ 71,999 Shares: Weighted average common shares outstanding 56,227,816 54,585,998 55,256,348 54,579,088 Dilutive effect of outstanding options, warrants, and restricted stock units as determined by the application of the treasury stock method 597,148 151,922 613,969 217,266 Dilutive effect of ESPP shares 7,554 — 2,518 — Weighted average common shares outstanding, as adjusted for diluted earnings per share calculation 56,832,518 54,737,920 55,872,835 54,796,354 Basic earnings per common share $ 0.46 $ 0.56 $ 1.69 $ 1.32 Diluted earnings per common share $ 0.46 $ 0.56 $ 1.67 $ 1.31 Shares that were excluded from the computation of diluted earnings per common share because their effect would have been anti-dilutive are summarized in the table below for the periods presented: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Anti-dilutive common stock equivalents Options — 39,085 — 39,085 RSU and DSU awards 47,805 261,091 97,067 261,091 PSU awards 85,571 — 95,511 — Total anti-dilutive common stock equivalents 133,376 300,176 192,578 300,176

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
Accumulated Other Comprehensive Income (Loss)	Sep. 30, 2021
Accumulated Other Comprehensive Income (Loss).
Accumulated Other Comprehensive Income (Loss).	Note 14: Accumulated Other Comprehensive Income (Loss) The following tables represent changes in accumulated other comprehensive income (loss) by component, net of tax, for the periods below (dollars in thousands) Three Months Ended September 30, 2021 2020 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 $ 17,013 $ (4,850) $ 12,163 $ 55,436 $ (15,802) $ 39,634 Unrealized holding gains (losses) on debt securities available for sale, net (17,198) 4,902 (12,296) (2,392) 682 (1,710) Amounts reclassified from accumulated other comprehensive income, net 5 (1) 4 (11) 3 (8) Balance at end of period $ (180) $ 51 $ (129) $ 53,033 $ (15,117) $ 37,916 Unrealized gains (losses) on cash flow hedges Balance at beginning of period $ (2,012) $ 574 $ (1,438) $ (3,633) $ 1,036 $ (2,597) Unrealized holding gains (losses) on cash flow hedges, net (7) 2 (5) 20 (6) 14 Amounts reclassified from accumulated other comprehensive income, net 288 (82) 206 268 (76) 192 Balance at end of period $ (1,731) $ 494 $ (1,237) $ (3,345) $ 954 $ (2,391) Total accumulated other comprehensive income (loss) $ (1,911) $ 545 $ (1,366) $ 49,688 $ (14,163) $ 35,525 Nine Months Ended September 30, 2021 2020 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 $ 49,644 $ (14,151) $ 35,493 $ 21,192 $ (6,032) $ 15,160 Unrealized holding gains (losses) on debt securities available for sale, net (49,801) 14,195 (35,606) 33,551 (9,577) 23,974 Amounts reclassified from accumulated other comprehensive income, net (23) 7 (16) (1,710) 492 (1,218) Balance at end of period $ (180) $ 51 $ (129) $ 53,033 $ (15,117) $ 37,916 Unrealized gains (losses) on cash flow hedges Balance at beginning of period $ (3,055) $ 871 $ (2,184) $ (280) $ 80 $ (200) Unrealized holding gains (losses) on cash flow hedges, net 470 (134) 336 (3,123) 890 (2,233) Amounts reclassified from accumulated other comprehensive income, net 854 (243) 611 58 (16) 42 Balance at end of period $ (1,731) $ 494 $ (1,237) $ (3,345) $ 954 $ (2,391) Total accumulated other comprehensive income (loss) $ (1,911) $ 545 $ (1,366) $ 49,688 $ (14,163) $ 35,525

Operating Segments and Related

Operating Segments and Related Information	9 Months Ended
Operating Segments and Related Information	Sep. 30, 2021
Operating Segments and Related Information
Operating Segments and Related Information	Note 15: Operating Segments and Related Information The Company has three reportable operating segments: Banking, Remittance Processing, and Wealth Management. The Banking operating segment provides a full range of banking services to individual and corporate customers through its banking center network in Illinois; the St. Louis, Missouri metropolitan area; southwest Florida; and Indianapolis, Indiana. The Remittance Processing operating segment provides solutions for online bill payments, lockbox, and walk-in payments. The Wealth Management operating segment provides a full range of asset management, investment, brokerage, fiduciary, philanthropic advisory, tax preparation, and farm management services to individuals, businesses, and foundations. The 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 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 Note 1. Significant Accounting Policies ” to the Company’s 2020 Annual Report. 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. The “other” category included in the tables below consists of the Parent Company, First Busey Risk Management, and the elimination of intercompany transactions (dollars in thousands) Goodwill Total Assets As of As of September 30, December 31, September 30, December 31, 2021 2020 2021 2020 Operating segment Banking $ 294,666 $ 288,436 $ 12,788,398 $ 10,462,673 Remittance Processing 8,992 8,992 47,528 46,553 Wealth Management 14,108 14,108 60,496 46,504 Other — — 2,908 (11,683) Consolidated total $ 317,766 $ 311,536 $ 12,899,330 $ 10,544,047 Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Net interest income Banking $ 74,672 $ 73,330 $ 211,377 $ 218,221 Remittance Processing 19 21 60 59 Wealth Management — — — — Other (3,936) (3,598) (11,247) (8,281) Total net interest income $ 70,755 $ 69,753 $ 200,190 $ 209,999 Noninterest income Banking $ 14,976 $ 18,523 $ 42,798 $ 45,717 Remittance Processing 5,030 4,287 14,700 12,318 Wealth Management 13,746 10,662 39,333 32,681 Other (493) (1,187) 884 (2,950) Total noninterest income $ 33,259 $ 32,285 $ 97,715 $ 87,766 Noninterest expense Banking $ 59,520 $ 44,863 $ 150,032 $ 135,037 Remittance Processing 4,519 3,523 13,086 9,669 Wealth Management 7,679 6,497 20,961 19,725 Other 1,769 1,659 6,532 5,693 Total noninterest expense $ 73,487 $ 56,542 $ 190,611 $ 170,124 Income before income taxes Banking $ 31,996 $ 41,441 $ 114,507 $ 93,245 Remittance Processing 530 785 1,674 2,708 Wealth Management 6,068 4,165 18,373 12,956 Other (6,198) (6,444) (16,895) (16,924) Total income before income taxes $ 32,396 $ 39,947 $ 117,659 $ 91,985 Net income Banking $ 25,123 $ 31,744 $ 89,889 $ 72,653 Remittance Processing 384 578 1,214 1,966 Wealth Management 4,719 3,166 14,285 9,847 Other (4,285) (4,659) (11,865) (12,467) Total net income $ 25,941 $ 30,829 $ 93,523 $ 71,999

Leases

Leases	9 Months Ended
Leases	Sep. 30, 2021
Leases
Leases	Note 16: Leases The Company has operating leases consisting primarily of equipment leases and real estate leases for banking centers, ATM locations, and office space. (dollars in thousands) As of September 30, December 31, 2021 2020 Lease balances Right of use assets $ 11,068 $ 7,714 Lease liabilities 11,120 7,757 Supplemental information Year through which lease terms extend 2031 2032 Weighted average remaining lease term (in years) 6.60 5.93 Weighted average discount rate 2.15 % 2.82 % The following tables represents lease costs and cash flows related to leases for the periods presented (dollars in thousands) Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Lease costs Operating lease costs $ 656 $ 622 $ 1,828 $ 1,877 Variable lease costs 94 99 394 401 Short-term lease costs 9 15 43 45 Total lease cost $ 759 $ 736 $ 2,265 $ 2,323 Cash flows related to leases Cash paid for amounts included in the measurement of lease liabilities: Operating lease cash flows – Fixed payments $ 620 $ 616 $ 1,756 $ 1,839 Operating lease cash flows – Liability reduction 569 546 1,610 1,610 Right of use assets obtained during the period in exchange for operating lease liabilities (1) 3,408 — 5,018 128 (1) The nine months ended September 30, 2021, includes $371 related to a lease obtained in the acquisition of CAC. As of September 30, 2021, 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 Rent commitments were as follows (dollars in thousands) As of September 30, 2021 Rent commitments Remainder of 2021 $ 621 2022 2,288 2023 2,071 2024 1,645 2025 1,416 Thereafter 3,921 Amounts representing interest (842) Present value of net future minimum lease payments $ 11,120

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	9 Months Ended
Significant Accounting Policies (Policies)	Sep. 30, 2021
Significant Accounting Policies
Nature of operations	Nature of Operations First Busey Corporation, a Nevada corporation organized in 1980, is a $12.9 billion financial holding company headquartered in Champaign, Illinois. Our common stock is traded on The Nasdaq Global Select Market under the symbol “BUSE.” The Company operates and reports its business in three segments: Banking, Remittance Processing, and Wealth Management. The Banking operating segment provides a full range of banking services to individual and corporate customers through the Company’s wholly-owned bank subsidiary, Busey Bank, with banking centers in Illinois; the St. Louis, Missouri metropolitan area; southwest Florida; and Indianapolis, Indiana. The Remittance Processing operating segment provides technology-driven payment solutions for walk-in, lockbox, interactive voice recognition, and online bill payments, among others, through the Company’s subsidiary, FirsTech. The Wealth Management operating segment provides a full range of asset management, investment, brokerage, fiduciary, philanthropic advisory, tax preparation, and farm management services to individuals, businesses, and foundations.
Basis of Financial Statement Presentation	Basis of Financial Statement Presentation These unaudited consolidated financial statements and related notes should be read in conjunction with the audited consolidated financial statements included in our 2020 Annual Report. These interim unaudited consolidated financial statements serve to update our 2020 Annual Report and may not include all information and notes necessary to constitute a complete set of financial statements. We prepared these unaudited consolidated financial statements in conformity with GAAP. We have eliminated intercompany accounts and transactions. We have also reclassified certain prior year amounts to conform to the current period presentation. These reclassifications did not have a material impact on our consolidated financial condition or results of operations. In our opinion, the unaudited consolidated financial statements reflect all normal, recurring adjustments needed to present fairly our results for the interim periods. The results of operations for interim periods are not necessarily indicative of the results that may be expected for the full year or any other interim period.
COVID-19	COVID-19 First Busey has continued to operate as an essential community resource during these challenging and unprecedented times. Federal bank regulatory agencies, along with their state counterparts, have issued a steady stream of guidance responding to the COVID-19 pandemic and have taken a number of steps to help banks navigate the pandemic and mitigate its impact. The Company remains vigilant as the negative impacts of COVID-19, such as further margin compression and a deterioration in asset quality, could impact future quarters. As part of the CARES Act, Congress appropriated approximately $349 billion for the creation of the PPP and then authorized a second phase for an additional $310 billion in PPP loans. The program provided payroll assistance for the nation’s nearly 30 million small businesses—and select nonprofits—in the form of government-guaranteed low-interest loans from the SBA. On December 27, 2020, the Economic Aid Act extended the authority to make PPP loans through March 31, 2021, and revised certain PPP requirements. On March 30, 2021, the President signed the PPP Extension Act of 2021, which extended the PPP application deadline to May 31, 2021, or until funding was exhausted, which occurred on May 28, 2021. First Busey served as a bridge for these programs, actively helping existing and new business clients sign up for this important financial resource. The following table summarizes First Busey’s PPP loans as of September 30, 2021, (dollars in thousands) CARES Economic Aid PPP Loan Act Act Totals Customers with PPP loans processed/acquired 4,595 2,753 7,348 PPP loans originated/acquired $ 765,212 $ 324,593 $ 1,089,805 Customers with PPP loans outstanding 121 1,499 1,620 PPP loans outstanding $ 17,364 $ 165,746 $ 183,110 PPP loans outstanding, amortized cost 17,325 160,906 178,231 PPP loan balance forgiveness: Received $ 744,320 $ 151,135 $ 895,455 Balances submitted to the SBA for forgiveness 10,796 10,217 21,013
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 debt securities available for sale, fair value of assets acquired and liabilities assumed in business combinations, goodwill, income taxes, and the determination of the ACL.
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 were issued. There were no significant subsequent events for the quarter ended September 30, 2021, through the filing date of these unaudited consolidated financial statements.

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	9 Months Ended
Significant Accounting Policies (Tables)	Sep. 30, 2021
Significant Accounting Policies
Summary of Paycheck Protection Program loans	The following table summarizes First Busey’s PPP loans as of September 30, 2021, (dollars in thousands) CARES Economic Aid PPP Loan Act Act Totals Customers with PPP loans processed/acquired 4,595 2,753 7,348 PPP loans originated/acquired $ 765,212 $ 324,593 $ 1,089,805 Customers with PPP loans outstanding 121 1,499 1,620 PPP loans outstanding $ 17,364 $ 165,746 $ 183,110 PPP loans outstanding, amortized cost 17,325 160,906 178,231 PPP loan balance forgiveness: Received $ 744,320 $ 151,135 $ 895,455 Balances submitted to the SBA for forgiveness 10,796 10,217 21,013

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
Acquisitions (Tables)	Sep. 30, 2021
CAC
Schedule of fair value estimates of assets acquired and liabilities assumed	The following table presents the estimated fair value of CAC’s assets acquired and liabilities assumed as of May 31, 2021 (dollars in thousands) : Fair Value Assets acquired Cash and cash equivalents $ 298,637 Securities 702,367 Portfolio loans, net of ACL 430,470 Premises and equipment 17,034 Other intangible assets 17,340 Mortgage servicing rights 629 Other assets 8,176 Total assets acquired 1,474,653 Liabilities assumed Deposits 1,315,671 Other borrowings 16,651 Other liabilities 19,098 Total liabilities assumed 1,351,420 Net assets acquired $ 123,233 Consideration paid: Cash $ 70,358 Common stock 59,105 Total consideration paid $ 129,463 Goodwill $ 6,230

Securities (Tables)

Securities (Tables)	9 Months Ended
Securities (Tables)	Sep. 30, 2021
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) As of September 30, 2021 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses ACL Value Debt securities available for sale U.S. Treasury securities $ 185,636 $ 72 $ (255) $ — $ 185,453 Obligations of U.S. government corporations and agencies 37,784 1,213 — — 38,997 Obligations of states and political subdivisions 288,023 8,743 (754) — 296,012 Commercial mortgage-backed securities 607,097 5,278 (9,078) — 603,297 Residential mortgage-backed securities 2,108,388 13,973 (19,753) — 2,102,608 Asset-backed securities 468,618 323 (134) — 468,807 Corporate debt securities 301,878 1,374 (1,182) — 302,070 Total debt securities available for sale $ 3,997,424 $ 30,976 $ (31,156) $ — $ 3,997,244 As of December 31, 2020 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses ACL Value Debt securities available for sale U.S. Treasury securities $ 27,481 $ 356 $ — $ — $ 27,837 Obligations of U.S. government corporations and agencies 67,406 2,162 (49) — 69,519 Obligations of states and political subdivisions 292,940 11,779 (8) — 304,711 Commercial mortgage-backed securities 408,716 10,212 (312) — 418,616 Residential mortgage-backed securities 1,344,047 24,571 (303) — 1,368,315 Corporate debt securities 70,953 1,237 (1) — 72,189 Total debt securities available for sale $ 2,211,543 $ 50,317 $ (673) — $ 2,261,187
Schedule of amortized cost and fair value of debt securities available for sale and held to maturity by contractual maturity	All mortgage-backed securities were issued by U.S. government corporations and agencies (dollars in thousands) As of September 30, 2021 Amortized Fair Cost Value Debt securities available for sale Due in one year or less $ 103,158 $ 103,787 Due after one year through five years 603,868 608,074 Due after five years through ten years 385,479 393,540 Due after ten years 2,904,919 2,891,843 Total debt securities available for sale $ 3,997,424 $ 3,997,244
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 September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Realized gains and losses on sales of debt securities Gross security gains $ — $ 11 $ 524 $ 1,718 Gross security (losses) (5) — (410) (8) Net gains (losses) on sales of debt securities $ (5) $ 11 $ 114 $ 1,710
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) As of September 30, 2021 Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses Debt securities available for sale U.S. Treasury securities $ 180,317 $ (255) $ — $ — $ 180,317 $ (255) Obligations of states and political subdivisions 55,434 (754) — — 55,434 (754) Commercial mortgage-backed securities 434,220 (9,036) 3,063 (42) 437,283 (9,078) Residential mortgage-backed securities 1,392,160 (19,707) 5,568 (46) 1,397,728 (19,753) Asset-backed securities 51,183 (134) — — 51,183 (134) Corporate debt securities 210,951 (1,182) — — 210,951 (1,182) Total temporarily impaired securities $ 2,324,265 $ (31,068) $ 8,631 $ (88) $ 2,332,896 $ (31,156) As of December 31, 2020 Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses Debt securities available for sale Obligations of U.S. government corporations and agencies $ — $ — $ 4,957 $ (49) $ 4,957 $ (49) Obligations of states and political subdivisions 762 (8) — — 762 (8) Commercial mortgage-backed securities 129,655 (312) — — 129,655 (312) Residential mortgage-backed securities 89,997 (300) 139 (3) 90,136 (303) Corporate debt securities 1,499 (1) — — 1,499 (1) Total temporarily impaired securities $ 221,913 $ (621) $ 5,096 $ (52) $ 227,009 $ (673)

Portfolio Loans (Tables)

Portfolio Loans (Tables)	9 Months Ended
Portfolio Loans (Tables)	Sep. 30, 2021
Portfolio Loans
Distribution of portfolio loans	Distributions of portfolio loans are as follows (dollars in thousands) As of September 30, December 31, 2021 2020 Portfolio loans Commercial $ 1,931,863 $ 2,014,576 Commercial real estate 3,068,622 2,892,535 Real estate construction 430,857 461,786 Retail real estate 1,512,884 1,407,852 Retail other 206,409 37,428 Total portfolio loans $ 7,150,635 $ 6,814,177 ACL (92,802) (101,048) Portfolio loans, net $ 7,057,833 $ 6,713,129
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 (dollars in thousands) As of September 30, 2021 Special Substandard Pass Watch Mention Substandard Non-accrual Portfolio loans Commercial $ 1,718,398 $ 115,108 $ 62,094 $ 26,033 $ 10,230 Commercial real estate 2,623,243 338,270 81,525 18,964 6,620 Real estate construction 413,986 14,464 7 2,400 — Retail real estate 1,486,172 11,724 2,008 4,498 8,482 Retail other 206,372 — — — 37 Total portfolio loans $ 6,448,171 $ 479,566 $ 145,634 $ 51,895 $ 25,369 As of December 31, 2020 Special Substandard Pass Watch Mention Substandard Non-accrual Portfolio loans Commercial $ 1,768,755 $ 136,948 $ 72,447 $ 27,903 $ 8,523 Commercial real estate 2,393,372 383,277 75,486 34,897 5,503 Real estate construction 434,681 24,481 77 2,546 1 Retail real estate 1,382,616 10,264 2,471 3,702 8,799 Retail other 37,324 — — — 104 Total portfolio loans $ 6,016,748 $ 554,970 $ 150,481 $ 69,048 $ 22,930
Risk grades of portfolio loans, further sorted by origination	Risk grades of portfolio loans, further sorted by origination year are as follows (dollars in thousands) As of September 30, 2021 Term Loans Amortized Cost Basis by Origination Year Revolving Risk Grade Ratings 2021 2020 2019 2018 2017 Prior loans Total Commercial Pass $ 468,833 $ 265,204 $ 112,809 $ 90,292 $ 73,553 $ 132,127 $ 575,580 $ 1,718,398 Watch 15,078 5,355 19,783 5,668 7,545 4,287 57,392 115,108 Special 3,011 1,143 2,479 4,385 6,864 12,484 31,728 62,094 Substandard 3,357 3,504 3,321 1,437 1,244 5,552 7,618 26,033 Substandard non-accrual 4,305 444 1,597 — 1,821 63 2,000 10,230 Total commercial 494,584 275,649 139,989 101,782 91,027 154,513 674,318 1,931,863 Commercial real estate Pass 655,907 690,244 463,830 289,396 257,618 245,795 20,453 2,623,243 Watch 41,596 40,404 130,282 62,312 27,226 34,572 1,878 338,270 Special 27,115 7,056 7,551 18,661 10,436 10,430 276 81,525 Substandard 4,894 9,289 1,574 2,072 526 429 180 18,964 Substandard non-accrual 114 761 352 1,962 3,407 24 — 6,620 Total commercial real estate 729,627 747,753 603,588 374,403 299,213 291,250 22,787 3,068,622 Real estate construction Pass 160,719 141,699 93,701 3,918 899 1,249 11,801 413,986 Watch 6,279 6,115 55 276 1,616 123 — 14,464 Special — — 7 — — — — 7 Substandard — 2,400 — — — — — 2,400 Substandard non-accrual — — — — — — — — Total real estate construction 166,999 150,214 93,763 4,193 2,516 1,372 11,801 430,857 Retail real estate Pass 428,556 230,120 107,262 92,875 95,667 313,708 217,984 1,486,172 Watch 2,641 2,666 1,982 1,521 352 270 2,292 11,724 Special 1,979 29 — — — — — 2,008 Substandard 1,630 321 14 73 166 2,210 84 4,498 Substandard non-accrual 500 145 72 546 1,369 4,582 1,268 8,482 Total retail real estate 435,305 233,281 109,330 95,015 97,553 320,771 221,629 1,512,884 Retail other Pass 45,614 25,177 30,366 19,737 9,935 2,658 72,885 206,372 Watch — — — — — — — — Special — — — — — — — — Substandard — — — — — — — — Substandard non-accrual — 11 7 5 14 — — 37 Total retail other 45,614 25,188 30,373 19,742 9,949 2,658 72,885 206,409 Total portfolio loans $ 1,872,128 $ 1,432,087 $ 977,044 $ 595,136 $ 500,258 $ 770,563 $ 1,003,419 $ 7,150,635 As of December 31, 2020 Term Loans Amortized Cost Basis by Origination Year Revolving Risk Grade Ratings 2020 2019 2018 2017 2016 Prior loans Total Commercial Pass $ 812,536 $ 158,307 $ 107,565 $ 93,190 $ 61,847 $ 79,970 $ 455,340 $ 1,768,755 Watch 16,544 22,247 14,954 13,724 2,577 10,943 55,959 136,948 Special Mention 6,402 2,671 2,069 7,164 6,763 13,733 33,645 72,447 Substandard 7,772 3,791 2,371 1,939 819 1,233 9,978 27,903 Substandard non-accrual 150 3,045 451 2,168 641 68 2,000 8,523 Total commercial 843,404 190,061 127,410 118,185 72,647 105,947 556,922 2,014,576 Commercial real estate Pass 717,559 503,977 360,573 384,843 180,555 227,068 18,797 2,393,372 Watch 88,297 110,526 90,412 33,734 32,887 27,023 398 383,277 Special Mention 16,490 8,858 10,490 10,505 7,102 21,808 233 75,486 Substandard 17,445 4,166 1,491 7,812 2,111 1,377 495 34,897 Substandard non-accrual 1,091 776 821 882 286 1,647 — 5,503 Total commercial real estate 840,882 628,303 463,787 437,776 222,941 278,923 19,923 2,892,535 Real estate construction Pass 179,232 171,663 64,025 1,468 761 1,444 16,088 434,681 Watch 18,485 3,657 337 1,838 164 24,481 Special Mention 67 10 — — — — — 77 Substandard 2,400 — — — 146 — — 2,546 Substandard non-accrual — — — — — 1 — 1 Total real estate construction 200,184 175,330 64,362 3,306 1,071 1,445 16,088 461,786 Retail real estate Pass 319,302 162,711 135,065 136,427 140,600 257,147 231,364 1,382,616 Watch 2,715 2,053 1,396 349 579 233 2,939 10,264 Special Mention 509 — — — 1,962 — — 2,471 Substandard 899 96 56 26 727 1,631 267 3,702 Substandard non-accrual 687 78 646 1,147 233 4,815 1,193 8,799 Total retail real estate 324,112 164,938 137,163 137,949 144,101 263,826 235,763 1,407,852 Retail other Pass 8,357 9,430 5,600 2,516 691 440 10,290 37,324 Watch — — — — — — — — Special Mention — — — — — — — — Substandard — — — — — — — — Substandard non-accrual 14 7 5 15 5 57 1 104 Total retail other 8,371 9,437 5,605 2,531 696 497 10,291 37,428 Total portfolio loans $ 2,216,953 $ 1,168,069 $ 798,327 $ 699,747 $ 441,456 $ 650,638 $ 838,987 $ 6,814,177
Summary of portfolio loans that are past due and still accruing or on a non-accrual status	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) As of September 30, 2021 Loans past due, still accruing Non-accrual 30-59 Days 60-89 Days 90+Days Loans Past due and non-accrual loans Commercial $ 1,092 $ 202 $ — $ 10,230 Commercial real estate 882 — — 6,620 Real estate construction — — — — Retail real estate 2,068 2,020 491 8,482 Retail other 182 — — 37 Total past due and non-accrual loans $ 4,224 $ 2,222 $ 491 $ 25,369 As of December 31, 2020 Loans past due, still accruing Non-accrual 30-59 Days 60-89 Days 90+Days Loans Past due and non-accrual loans Commercial $ 243 $ — $ — $ 8,523 Commercial real estate — — — 5,503 Real estate construction 237 235 — 1 Retail real estate 6,248 400 1,305 8,799 Retail other 66 149 66 104 Total past due and non-accrual loans $ 6,794 $ 784 $ 1,371 $ 22,930
Summary of TDR loans	A summary of TDRs is as follows (dollars in thousands) As of September 30, December 31, 2021 2020 TDRs In compliance with modified terms $ 2,083 $ 3,814 30 – — 15 Non-performing TDRs 1,285 1,249 Total TDRs $ 3,368 $ 5,078 The following tables summarize TDRs that occurred during the periods presented (dollars in thousands) Three Months Ended September 30, 2021 Nine Months Ended September 30, 2021 Recorded Investment Recorded Investment Number of Rate Payment Number of Rate Payment Contracts Modification (1) Modification (1) Contracts Modification (1) Modification (1) Newly designated TDRs Commercial — $ — $ — 1 $ 444 $ — Three Months Ended September 30, 2020 Nine Months Ended September 30, 2020 Recorded Investment Recorded Investment Number of Rate Payment Number of Rate Payment Contracts Modification (1) Modification (1) Contracts Modification (1) Modification (1) Newly designated TDRs Commercial — $ — $ — 3 $ 324 $ — Commercial real estate — — — 1 651 — Retail real estate 1 — 167 2 — 353 (1) TDRs may include multiple concessions; those that include an interest rate concession and payment concession are shown in the rate modification columns.
Schedule of details of impaired loans, segregated by category	As of September 30, 2021 Unpaid Amortized Contractual Cost Amortized Total Average Principal with No Cost Amortized Related Amortized Balance Allowance with Allowance Cost Allowance Cost Loans evaluated on an individual basis Commercial $ 14,233 $ 2,003 $ 8,203 $ 10,206 $ 4,450 $ 8,945 Commercial real estate 7,188 6,222 — 6,222 — 6,906 Real estate construction 276 276 — 276 — 338 Retail real estate 4,020 3,637 25 3,662 25 4,630 Retail other — — — — — — Total loans evaluated individually $ 25,717 $ 12,138 $ 8,228 $ 20,366 $ 4,475 $ 20,819 As of December 31, 2020 Unpaid Amortized Contractual Cost Amortized Total Average Principal with No Cost Amortized Related Amortized Balance Allowance with Allowance Cost Allowance Cost Loans evaluated on an individual basis Commercial $ 16,771 $ 4,001 $ 4,371 $ 8,372 $ 1,600 $ 7,920 Commercial real estate 7,406 6,067 — 6,067 — 9,349 Real estate construction 292 292 — 292 — 581 Retail real estate 5,873 5,490 25 5,515 25 7,439 Retail other — — — — — 10 Total loans evaluated individually $ 30,342 $ 15,850 $ 4,396 $ 20,246 $ 1,625 $ 25,299
Schedule of activity on the allowance for loan losses	The following tables detail activity in the ACL. Allocation of a portion of the ACL 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 September 30, 2021 Commercial Real Estate Retail Real Commercial Real Estate Construction Estate Retail Other Total ACL beginning balance $ 24,356 $ 39,974 $ 7,599 $ 20,505 $ 2,976 $ 95,410 Provision for credit losses 657 (25) (1,503) (1,155) 157 (1,869) Charged-off (764) (191) — (155) (98) (1,208) Recoveries 157 73 25 157 57 469 ACL ending balance $ 24,406 $ 39,831 $ 6,121 $ 19,352 $ 3,092 $ 92,802 As of and for the Nine Months Ended September 30, 2021 Commercial Real Estate Retail Commercial Real Estate Construction Real Estate Retail Other Total ACL beginning balance $ 23,866 $ 46,230 $ 8,193 $ 21,992 $ 767 $ 101,048 Day 1 PCD (1) 3,546 336 — 129 167 4,178 Provision for credit losses (1,428) (6,109) (2,082) (3,028) 2,282 (10,365) Charged-off (2,026) (812) (209) (315) (349) (3,711) Recoveries 448 186 219 574 225 1,652 ACL ending balance $ 24,406 $ 39,831 $ 6,121 $ 19,352 $ 3,092 $ 92,802 (1) The Day 1 PCD is attributable to the CAC acquisition. As of and for the Three Months Ended September 30, 2020 Commercial Real Estate Retail Real Commercial Real Estate Construction Estate Retail Other Total ACL beginning balance $ 24,146 $ 42,680 $ 7,792 $ 20,405 $ 1,023 $ 96,046 Provision for credit losses 2,593 3,703 (381) (383) 17 5,549 Charged-off (2,500) (569) (18) (139) (171) (3,397) Recoveries 124 103 26 301 89 643 ACL ending balance $ 24,363 $ 45,917 $ 7,419 $ 20,184 $ 958 $ 98,841 As of and for the Nine Months Ended September 30, 2020 Commercial Real Estate Retail Real Commercial Real Estate Construction Estate Retail Other Total Beginning balance, prior to adoption of ASC $ 18,291 $ 21,190 $ 3,204 $ 10,495 $ 568 $ 53,748 Adoption of ASC 715 9,306 2,954 3,292 566 16,833 Provision for credit losses 10,739 17,090 1,082 6,635 110 35,656 Charged-off (5,682) (1,833) (18) (1,139) (575) (9,247) Recoveries 300 164 197 901 289 1,851 ACL ending balance $ 24,363 $ 45,917 $ 7,419 $ 20,184 $ 958 $ 98,841
Schedule of allowance for loan losses and recorded investments in portfolio loans, by category	The following table presents the ACL and amortized cost of portfolio loans by category (dollars in thousands) As of September 30, 2021 Commercial Real Estate Retail Real Commercial Real Estate Construction Estate Retail Other Total ACL Ending balance attributed to: Loans individually evaluated for impairment $ 4,450 $ — $ — $ 25 $ — $ 4,475 Loans collectively evaluated for impairment 19,956 39,831 6,121 19,327 3,092 88,327 ACL ending balance $ 24,406 $ 39,831 $ 6,121 $ 19,352 $ 3,092 $ 92,802 Loans Loans individually evaluated for impairment $ 10,206 $ 6,222 $ 276 $ 3,662 $ — $ 20,366 Loans collectively evaluated for impairment 1,921,657 3,062,400 430,581 1,509,222 206,409 7,130,269 Loans ending balance $ 1,931,863 $ 3,068,622 $ 430,857 $ 1,512,884 $ 206,409 $ 7,150,635 As of December 31, 2020 Commercial Real Estate Retail Real Commercial Real Estate Construction Estate Retail Other Total ACL Ending balance attributed to: Loans individually evaluated for impairment $ 1,600 $ — $ — $ 25 $ — $ 1,625 Loans collectively evaluated for impairment 22,266 46,230 8,193 21,967 767 99,423 ACL ending balance $ 23,866 $ 46,230 $ 8,193 $ 21,992 $ 767 $ 101,048 Loans Loans individually evaluated for impairment $ 8,372 $ 6,067 $ 292 $ 5,515 $ — $ 20,246 Loans collectively evaluated for impairment 2,006,204 2,886,468 461,494 1,402,337 37,428 6,793,931 Loans ending balance $ 2,014,576 $ 2,892,535 $ 461,786 $ 1,407,852 $ 37,428 $ 6,814,177

Deposits (Tables)

Deposits (Tables)	9 Months Ended
Deposits (Tables)	Sep. 30, 2021
Deposits
Schedule of composition of deposits	The composition of deposits is as follows (dollars in thousands) As of September 30, December 31, 2021 2020 Deposits Demand deposits, noninterest-bearing $ 3,453,906 $ 2,552,039 Interest-bearing transaction deposits 2,938,109 2,263,093 Saving deposits and money market deposits 3,398,917 2,743,369 Time deposits 1,026,935 1,119,348 Total deposits $ 10,817,867 $ 8,677,849 Additional information about our deposits is as follows (dollars in thousands) As of September 30, December 31, 2021 2020 Brokered savings deposits and money market deposits $ 2,002 $ 2,251 Brokered time deposits 264 5,257 Aggregate amount of time deposits with a minimum denomination of $100,000 504,367 568,735 Aggregate amount of time deposits with a minimum denomination that meets or exceeds the FDIC insurance limit of $250,000 156,419 192,563
Schedule of maturities of time deposits	As of September 30, 2021, the scheduled maturities of time deposits are as follows (dollars in thousands) As of September 30, 2021 Time deposits by schedule of maturities October 1, 2021 – September 30, 2022 $ 719,932 October 1, 2022 – September 30, 2023 188,639 October 1, 2023 – September 30, 2024 85,339 October 1, 2024 – September 30, 2025 20,008 October 1, 2025 – September 30, 2026 12,280 Thereafter 737 Total time deposits $ 1,026,935

Borrowings (Tables)

Borrowings (Tables)	9 Months Ended
Borrowings (Tables)	Sep. 30, 2021
Borrowings
Schedule of distribution of securities sold under agreements to repurchase and short-term borrowings and weighted average interest rates	Securities sold under agreements to repurchase were as follows (dollars in thousands) As of September 30, December 31, 2021 2020 Securities sold under agreements to repurchase $ 241,242 $ 175,614 Weighted average rate for securities sold under agreements to repurchase 0.08 % 0.13 %
Summary of long-term debt	Short-term borrowings are summarized as follows (dollars in thousands) As of September 30, December 31, 2021 2020 Short-term borrowings FHLB advances maturing in less than one year from date of origination, and the current portion of long-term FHLB advances due within 12 months $ 5,673 $ 4,658 Term Loan, current portion due within 12 months 12,000 — Total short-term debt $ 17,673 $ 4,658 Federal funds purchased are short-term borrowings that generally mature between one . The Company had Long-term debt is summarized as follows (dollars in thousands) As of September 30, December 31, 2021 2020 Long-term debt Notes payable, FHLB, original maturity of 5 years, collateralized by FHLB deposits, residential and commercial real estate loans and FHLB stock $ 4,233 $ 4,757 Term Loan 45,000 — Total long-term debt $ 49,233 $ 4,757
Schedule of unamortized debt issuance cost	Unamortized debt issuance costs related to senior notes and subordinated notes are presented in the following table (dollars in thousands) As of September 30, December 31, 2021 2020 Unamortized debt issuance costs Senior notes issued in 2017 $ 90 $ 191 Subordinated notes issued in 2017 575 651 Subordinated notes issued in 2020 1,788 2,123 Total unamortized debt issuance costs $ 2,453 $ 2,965

Regulatory Capital (Tables)

Regulatory Capital (Tables)	9 Months Ended
Regulatory Capital (Tables)	Sep. 30, 2021
Regulatory Capital
Schedule of applicable holding company and bank regulatory capital requirements	The following tables summarize regulatory capital requirements applicable to the holding company its subsidiary bank (dollars in thousands) As of September 30, 2021 Minimum Minimum To Be Well Actual Capital Requirement Capitalized Amount Ratio Amount Ratio Amount Ratio Total Capital (to Risk Weighted Assets) Consolidated $ 1,313,989 15.91 % $ 660,850 8.00 % $ 826,062 10.00 % Busey Bank $ 1,306,293 15.87 % $ 658,612 8.00 % $ 823,265 10.00 % Tier 1 Capital (to Risk Weighted Assets) Consolidated $ 1,060,756 12.84 % $ 495,637 6.00 % $ 660,850 8.00 % Busey Bank $ 1,238,060 15.04 % $ 493,959 6.00 % $ 658,612 8.00 % Common Equity Tier 1 Capital (to Risk Weighted Assets) Consolidated $ 986,756 11.95 % $ 371,728 4.50 % $ 536,940 6.50 % Busey Bank $ 1,238,060 15.04 % $ 370,469 4.50 % $ 535,123 6.50 % Tier 1 Capital (to Average Assets) Consolidated $ 1,060,756 8.60 % $ 493,201 4.00 % N/A N/A Busey Bank $ 1,238,060 10.06 % $ 492,170 4.00 % $ 615,212 5.00 % As of December 31, 2020 Minimum Minimum To Be Well Actual Capital Requirement Capitalized Amount Ratio Amount Ratio Amount Ratio Total Capital (to Risk Weighted Assets) Consolidated $ 1,245,997 17.04 % $ 585,015 8.00 % $ 731,269 10.00 % Busey Bank $ 1,131,875 15.50 % $ 584,082 8.00 % $ 730,103 10.00 % Tier 1 Capital (to Risk Weighted Assets) Consolidated $ 983,033 13.44 % $ 438,761 6.00 % $ 585,015 8.00 % Busey Bank $ 1,053,910 14.44 % $ 438,062 6.00 % $ 584,082 8.00 % Common Equity Tier 1 Capital (to Risk Weighted Assets) Consolidated $ 909,033 12.43 % $ 329,071 4.50 % $ 475,325 6.50 % Busey Bank $ 1,053,910 14.44 % $ 328,546 4.50 % $ 474,567 6.50 % Tier 1 Capital (to Average Assets) Consolidated $ 983,033 9.79 % $ 401,717 4.00 % N/A N/A Busey Bank $ 1,053,910 10.52 % $ 400,581 4.00 % $ 500,727 5.00 %

Stock-based Compensation (Table

Stock-based Compensation (Tables)	9 Months Ended
Stock-based Compensation (Tables)	Sep. 30, 2021
Stock-based Compensation
Summary of 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 nine months ended September 30, 2021 follows: Weighted- Weighted- Average Average Remaining Exercise Contractual Shares Price Life Outstanding at beginning of period 39,085 $ 23.53 5.88 Expired (7,479) 23.53 Outstanding at end of period 31,606 $ 23.53 5.13 Exercisable at end of period 31,606 $ 23.53 5.13
Summary of changes in the Company's RSU, PSU, and DSU awards	A summary of changes in the Company’s RSU, PSU, and DSU awards for the nine months ended September 30, 2021, is as follows: RSU Awards PSU Awards DSU Awards Weighted- Weighted- Weighted- Average Average Average Grant Date Grant Date Grant Date Shares Fair Value Shares (1) Fair Value Shares Fair Value Nonvested at beginning of period 1,017,038 $ 23.87 15,724 $ 16.25 34,263 $ 17.18 Granted 260,231 24.26 99,159 23.91 35,664 24.59 Dividend equivalents earned 33,388 23.07 — — 3,716 23.15 Vested (128,824) 22.88 — — (39,813) 18.08 Forfeited (29,883) 24.88 (968) 23.48 — — Nonvested at end of period 1,151,950 $ 24.02 113,915 $ 22.86 33,830 $ 24.59 Vested and outstanding at end of period 96,427 $ 21.99 (1) Shares for PSU awards represent target shares at grant date.
Schedule of Stock-based compensation expense	Stock-based compensation expense related to nonvested RSU, PSU, and DSU awards is presented in the table below (dollars in thousands) Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Stock-based compensation RSU awards $ 1,316 $ 2,029 $ 4,362 $ 3,952 PSU awards 290 41 619 41 DSU awards 231 135 741 420 Total stock-based compensation $ 1,837 $ 2,205 $ 5,722 $ 4,413
Schedule of Unamortized stock-based compensation expense	Unamortized stock-based compensation expense related to nonvested RSU, PSU, and DSU awards is presented in the table below (dollars in thousands) As of September 30, December 31, 2021 2020 Unamortized stock-based compensation RSU awards $ 11,650 $ 10,411 PSU awards 1,554 179 DSU awards 430 294 Total unamortized stock-based compensation $ 13,634 $ 10,884 Weighted average period over which expense is to be recognized 3.0 yrs 3.0 yrs

Outstanding Commitments and C_2

Outstanding Commitments and Contingent Liabilities (Tables)	9 Months Ended
Outstanding Commitments and Contingent Liabilities (Tables)	Sep. 30, 2021
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) As of September 30, December 31, 2021 2020 Financial instruments whose contract amounts represent credit risk Commitments to extend credit $ 1,836,815 $ 1,754,370 Standby letters of credit 38,329 38,937 Total commitments $ 1,875,144 $ 1,793,307

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	9 Months Ended
Derivative Financial Instruments (Tables)	Sep. 30, 2021
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) As of September 30, December 31, 2021 2020 Notional amount $ 50,000 $ 70,000 Weighted average fixed pay rates 1.79 % 1.80 % Weighted average variable 3-month LIBOR receive rates 0.12 % 0.22 % Weighted average maturity, in years 2.96 yrs 2.85 yrs Unrealized gains (losses), net of tax $ (1,237) $ (2,184)
Interest rate contract
Summary of Net gains (losses) relating to these derivative instruments	The following table reflects 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 periods presented (dollars in thousands) Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Interest rate contracts Gain (loss) recognized in OCI, net of tax $ (5) $ 14 $ 336 $ (2,233) (Gain) loss reclassified from OCI to interest expense, net of tax 206 192 611 42 Net change in unrealized gains (losses) on cash flow hedges $ 201 $ 206 $ 947 $ (2,191)
Interest rate lock commitments and forward sales commitments
Summary of fair values of derivative assets and liabilities recorded in consolidated balance sheet	Amounts and fair values of mortgage banking derivatives included in the unaudited Consolidated Balance Sheets are summarized as follows (dollars in thousands) As of September 30, 2021 As of December 31, 2020 Notional Fair Notional Fair Location Amount Value Amount Value Derivatives with positive fair value Interest rate lock commitments Other assets $ 31,480 $ 538 $ 45,004 $ 1,201 Forward sales commitments Other assets 117 1 978 32 Mortgage banking derivatives recorded in other assets $ 31,597 $ 539 $ 45,982 $ 1,233 Derivatives with negative fair value Interest rate lock commitments Other liabilities $ 117 $ 1 $ 118 $ 1 Forward sales commitments Other liabilities 49,418 1,439 84,964 2,662 Mortgage banking derivatives recorded in other liabilities $ 49,535 $ 1,440 $ 85,082 $ 2,663
Summary of Net gains (losses) relating to these derivative instruments	Net gains (losses) relating to these derivative instruments are summarized as follows for the periods presented (dollars in thousands) Three Months Ended September 30, Nine Months Ended September 30, Location 2021 2020 2021 2020 Net gains (losses) Interest rate lock commitments Mortgage revenue $ 537 $ 1,405 $ 1,502 $ 8,467 Forward sales commitments Mortgage revenue (1,438) (3,874) (3,616) (15,699) Net gains (losses) $ (901) $ (2,469) $ (2,114) $ (7,232)
Interest rate swap
Summary of fair values of derivative assets and liabilities recorded in consolidated balance sheet	Amounts and fair values of derivative assets and liabilities related to customer interest rate swaps recorded in the unaudited Consolidated Balance Sheets are summarized as follows (dollars in thousands) As of September 30, 2021 Derivative Asset Derivative Liability Notional Fair Notional Fair Amount Value Amount Value Derivatives not designated as hedging instruments Interest rate swaps – pay floating, receive fixed $ 332,856 $ 19,420 $ 91,711 $ 1,910 Interest rate swaps – pay fixed, receive floating 91,711 1,910 332,856 19,420 Total derivatives not designated as hedging instruments $ 424,567 $ 21,330 $ 424,567 $ 21,330 As of December 31, 2020 Derivative Asset Derivative Liability Notional Fair Notional Fair Amount Value Amount Value Derivatives not designated as hedging instruments Interest rate swaps – pay floating, receive fixed $ 394,954 $ 32,685 $ — $ — Interest rate swaps – pay fixed, receive floating — — 394,954 32,685 Total derivatives not designated as hedging instruments $ 394,954 $ 32,685 $ 394,954 $ 32,685
Summary of Net gains (losses) relating to these derivative instruments	Changes in fair value of these derivative assets and liabilities are recorded in noninterest expense in the unaudited Consolidated Statements of Income and summarized as follows (dollars in thousands) Three Months Ended September 30, Nine Months Ended September 30, Location 2021 2020 2021 2020 Interest rate swaps Pay floating, receive fixed Noninterest expense $ (2,024) $ (549) $ (11,355) $ 25,790 Pay fixed, receive floating Noninterest expense 2,024 549 11,355 (25,790) Net change in fair value of interest rate swaps $ — $ — $ — $ —

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
Fair Value Measurements (Tables)	Sep. 30, 2021
Fair Value Measurements
Schedule of financial assets and financial liabilities measured at fair value on a recurring basis	The following tables summarize financial assets and financial liabilities measured at fair value on a recurring basis as of September 30, 2021, and December 31, 2020, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value (dollars in thousands) As of September 30, 2021 Level 1 Level 2 Level 3 Total Inputs Inputs Inputs Fair Value Debt securities available for sale: U.S. Treasury securities $ — $ 185,453 $ — $ 185,453 Obligations of U.S. government corporations and agencies — 38,997 — 38,997 Obligations of states and political subdivisions — 296,012 — 296,012 Commercial mortgage-backed securities — 603,297 — 603,297 Residential mortgage-backed securities — 2,102,608 — 2,102,608 Asset-backed securities — 468,807 — 468,807 Corporate debt securities — 302,070 — 302,070 Equity securities — 13,012 — 13,012 Loans held for sale — 20,225 — 20,225 Derivative assets — 21,869 — 21,869 Derivative liabilities — 24,501 — 24,501 As of December 31, 2020 Level 1 Level 2 Level 3 Total Inputs Inputs Inputs Fair Value Debt securities available for sale: U.S. Treasury securities $ — $ 27,837 $ — $ 27,837 Obligations of U.S. government corporations and agencies — 69,519 — 69,519 Obligations of states and political subdivisions — 304,711 — 304,711 Commercial mortgage-backed securities — 418,616 — 418,616 Residential mortgage-backed securities — 1,368,315 — 1,368,315 Corporate debt securities — 72,189 — 72,189 Equity securities — 5,530 — 5,530 Loans held for sale — 42,813 — 42,813 Derivative assets — 33,918 — 33,918 Derivative liabilities — 38,403 — 38,403
Schedule of assets and liabilities measured at fair value on a non-recurring basis	The following tables summarize assets and liabilities measured at fair value on a non-recurring basis for the periods presented, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value (dollars in thousands) As of September 30, 2021 Level 1 Level 2 Level 3 Total Inputs Inputs Inputs Fair Value Loans evaluated individually $ — $ — $ 3,753 $ 3,753 OREO — — 51 51 Bank property held for sale — — 6,150 6,150 As of December 31, 2020 Level 1 Level 2 Level 3 Total Inputs Inputs Inputs Fair Value Loans evaluated individually $ — $ — $ 2,771 $ 2,771 OREO — — 106 106 Bank property held for sale — — 10,676 10,676
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 September 30, 2021: Estimate Techniques Input (Weighted Average) Loans evaluated individually $ 3,753 Appraisal of collateral Appraisal adjustments -18.0 % to -100.0 % (-54.4) % OREO 51 Appraisal of collateral Appraisal adjustments -33.0 % to -100.0 % (-67.9) % Bank property held for sale 6,150 Appraisal of collateral or real estate listing price Appraisal adjustments -6.2 % to -64.9 % (-41.2) % December 31, 2020: Loans evaluated individually $ 2,771 Appraisal of collateral Appraisal adjustments -30.0 % to -100.0 % (-37.0) % OREO 106 Appraisal of collateral Appraisal adjustments -25.0 % to -100.0 % (-54.5) % Bank property held for sale 10,676 Appraisal of collateral or real estate listing price Appraisal adjustments -6.2 % to -64.9 % (-42.8) %
Schedule of estimated fair values of financial instruments	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) As of September 30, 2021 As of December 31, 2020 Carrying Fair Carrying Fair Amount Value Amount Value Financial assets Level 1 inputs: Cash and cash equivalents $ 883,845 $ 883,845 $ 688,537 $ 688,537 Level 2 inputs: Accrued interest receivable 33,545 33,545 33,240 33,240 Level 3 inputs: Portfolio loans, net 7,057,833 7,108,483 6,713,129 6,755,425 Mortgage servicing rights 9,247 11,011 10,912 11,107 Other servicing rights 1,680 2,127 1,434 1,966 Financial liabilities Level 2 inputs: Time deposits $ 1,026,935 $ 1,029,879 $ 1,119,348 $ 1,132,107 Securities sold under agreements to repurchase 241,242 241,242 175,614 175,614 Short-term borrowings 17,673 17,671 4,658 4,661 Long-term debt 49,233 49,323 4,757 5,014 Junior subordinated debt owed to unconsolidated trusts 71,593 62,840 71,468 59,943 Accrued interest payable 5,435 5,435 3,401 3,401 Level 3 inputs: Senior notes, net of unamortized issuance costs 39,910 40,700 39,809 40,104 Subordinated notes, net of unamortized issuance costs 182,637 196,350 182,226 187,697

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	9 Months Ended
Earnings Per Common Share (Tables)	Sep. 30, 2021
Earnings Per Common Share
Schedule of computation of earnings per common share	Earnings per common share have been computed as follows (dollars in thousands, except per share amounts) Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Net income $ 25,941 $ 30,829 $ 93,523 $ 71,999 Shares: Weighted average common shares outstanding 56,227,816 54,585,998 55,256,348 54,579,088 Dilutive effect of outstanding options, warrants, and restricted stock units as determined by the application of the treasury stock method 597,148 151,922 613,969 217,266 Dilutive effect of ESPP shares 7,554 — 2,518 — Weighted average common shares outstanding, as adjusted for diluted earnings per share calculation 56,832,518 54,737,920 55,872,835 54,796,354 Basic earnings per common share $ 0.46 $ 0.56 $ 1.69 $ 1.32 Diluted earnings per common share $ 0.46 $ 0.56 $ 1.67 $ 1.31
Schedule of shares excluded from computation of diluted earnings per common share	Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Anti-dilutive common stock equivalents Options — 39,085 — 39,085 RSU and DSU awards 47,805 261,091 97,067 261,091 PSU awards 85,571 — 95,511 — Total anti-dilutive common stock equivalents 133,376 300,176 192,578 300,176

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
Accumulated Other Comprehensive Income (Loss) (Tables)	Sep. 30, 2021
Accumulated Other Comprehensive Income (Loss).
Accumulated Other Comprehensive Income (Loss)	The following tables represent changes in accumulated other comprehensive income (loss) by component, net of tax, for the periods below (dollars in thousands) Three Months Ended September 30, 2021 2020 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 $ 17,013 $ (4,850) $ 12,163 $ 55,436 $ (15,802) $ 39,634 Unrealized holding gains (losses) on debt securities available for sale, net (17,198) 4,902 (12,296) (2,392) 682 (1,710) Amounts reclassified from accumulated other comprehensive income, net 5 (1) 4 (11) 3 (8) Balance at end of period $ (180) $ 51 $ (129) $ 53,033 $ (15,117) $ 37,916 Unrealized gains (losses) on cash flow hedges Balance at beginning of period $ (2,012) $ 574 $ (1,438) $ (3,633) $ 1,036 $ (2,597) Unrealized holding gains (losses) on cash flow hedges, net (7) 2 (5) 20 (6) 14 Amounts reclassified from accumulated other comprehensive income, net 288 (82) 206 268 (76) 192 Balance at end of period $ (1,731) $ 494 $ (1,237) $ (3,345) $ 954 $ (2,391) Total accumulated other comprehensive income (loss) $ (1,911) $ 545 $ (1,366) $ 49,688 $ (14,163) $ 35,525 Nine Months Ended September 30, 2021 2020 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 $ 49,644 $ (14,151) $ 35,493 $ 21,192 $ (6,032) $ 15,160 Unrealized holding gains (losses) on debt securities available for sale, net (49,801) 14,195 (35,606) 33,551 (9,577) 23,974 Amounts reclassified from accumulated other comprehensive income, net (23) 7 (16) (1,710) 492 (1,218) Balance at end of period $ (180) $ 51 $ (129) $ 53,033 $ (15,117) $ 37,916 Unrealized gains (losses) on cash flow hedges Balance at beginning of period $ (3,055) $ 871 $ (2,184) $ (280) $ 80 $ (200) Unrealized holding gains (losses) on cash flow hedges, net 470 (134) 336 (3,123) 890 (2,233) Amounts reclassified from accumulated other comprehensive income, net 854 (243) 611 58 (16) 42 Balance at end of period $ (1,731) $ 494 $ (1,237) $ (3,345) $ 954 $ (2,391) Total accumulated other comprehensive income (loss) $ (1,911) $ 545 $ (1,366) $ 49,688 $ (14,163) $ 35,525

Operating Segments and Relate_2

Operating Segments and Related Information (Tables)	9 Months Ended
Operating Segments and Related Information (Tables)	Sep. 30, 2021
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. The “other” category included in the tables below consists of the Parent Company, First Busey Risk Management, and the elimination of intercompany transactions (dollars in thousands) Goodwill Total Assets As of As of September 30, December 31, September 30, December 31, 2021 2020 2021 2020 Operating segment Banking $ 294,666 $ 288,436 $ 12,788,398 $ 10,462,673 Remittance Processing 8,992 8,992 47,528 46,553 Wealth Management 14,108 14,108 60,496 46,504 Other — — 2,908 (11,683) Consolidated total $ 317,766 $ 311,536 $ 12,899,330 $ 10,544,047 Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Net interest income Banking $ 74,672 $ 73,330 $ 211,377 $ 218,221 Remittance Processing 19 21 60 59 Wealth Management — — — — Other (3,936) (3,598) (11,247) (8,281) Total net interest income $ 70,755 $ 69,753 $ 200,190 $ 209,999 Noninterest income Banking $ 14,976 $ 18,523 $ 42,798 $ 45,717 Remittance Processing 5,030 4,287 14,700 12,318 Wealth Management 13,746 10,662 39,333 32,681 Other (493) (1,187) 884 (2,950) Total noninterest income $ 33,259 $ 32,285 $ 97,715 $ 87,766 Noninterest expense Banking $ 59,520 $ 44,863 $ 150,032 $ 135,037 Remittance Processing 4,519 3,523 13,086 9,669 Wealth Management 7,679 6,497 20,961 19,725 Other 1,769 1,659 6,532 5,693 Total noninterest expense $ 73,487 $ 56,542 $ 190,611 $ 170,124 Income before income taxes Banking $ 31,996 $ 41,441 $ 114,507 $ 93,245 Remittance Processing 530 785 1,674 2,708 Wealth Management 6,068 4,165 18,373 12,956 Other (6,198) (6,444) (16,895) (16,924) Total income before income taxes $ 32,396 $ 39,947 $ 117,659 $ 91,985 Net income Banking $ 25,123 $ 31,744 $ 89,889 $ 72,653 Remittance Processing 384 578 1,214 1,966 Wealth Management 4,719 3,166 14,285 9,847 Other (4,285) (4,659) (11,865) (12,467) Total net income $ 25,941 $ 30,829 $ 93,523 $ 71,999

Leases (Tables)

Leases (Tables)	9 Months Ended
Leases (Tables)	Sep. 30, 2021
Leases
Summary of lease-related balances	The following table summarizes lease-related information and balances the Company reported in its unaudited Consolidated Balance Sheets for the periods presented (dollars in thousands) As of September 30, December 31, 2021 2020 Lease balances Right of use assets $ 11,068 $ 7,714 Lease liabilities 11,120 7,757 Supplemental information Year through which lease terms extend 2031 2032 Weighted average remaining lease term (in years) 6.60 5.93 Weighted average discount rate 2.15 % 2.82 %
Schedule of lease costs and other lease information	The following tables represents lease costs and cash flows related to leases for the periods presented (dollars in thousands) Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Lease costs Operating lease costs $ 656 $ 622 $ 1,828 $ 1,877 Variable lease costs 94 99 394 401 Short-term lease costs 9 15 43 45 Total lease cost $ 759 $ 736 $ 2,265 $ 2,323 Cash flows related to leases Cash paid for amounts included in the measurement of lease liabilities: Operating lease cash flows – Fixed payments $ 620 $ 616 $ 1,756 $ 1,839 Operating lease cash flows – Liability reduction 569 546 1,610 1,610 Right of use assets obtained during the period in exchange for operating lease liabilities (1) 3,408 — 5,018 128 (1) The nine months ended September 30, 2021, includes $371 related to a lease obtained in the acquisition of CAC.
Schedule of future undiscounted lease payments	Rent commitments were as follows (dollars in thousands) As of September 30, 2021 Rent commitments Remainder of 2021 $ 621 2022 2,288 2023 2,071 2024 1,645 2025 1,416 Thereafter 3,921 Amounts representing interest (842) Present value of net future minimum lease payments $ 11,120

Significant Accounting Polici_4

Significant Accounting Policies - Impact of new financial accounting standards (Details) $ in Billions	9 Months Ended
	Sep. 30, 2021USD ($)segment
Significant Accounting Policies
Value of company \| $	$ 12.9
Number of operating segments \| segment	3

Significant Accounting Polici_5

Significant Accounting Policies - COVID-19 (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)customer	Dec. 31, 2020USD ($)
COVID-19
Percentage of remaining loan maintains government guarantee	100.00%
PPP Loans
COVID-19
Customers with PPP loans processed \| customer	7,348
PPP loans originated	$ 1,089,805
Customers with PPP loans outstanding \| customer	1,620
PPP loans outstanding	$ 183,110
PPP loans outstanding, amortized cost	178,231	$ 446,400
Received	895,455
Applications in process	$ 21,013
CARES Act
COVID-19
Customers with PPP loans processed \| customer	4,595
PPP loans originated	$ 765,212
Customers with PPP loans outstanding \| customer	121
PPP loans outstanding	$ 17,364
PPP loans outstanding, amortized cost	17,325
Received	744,320
Applications in process	$ 10,796
Economic Aid Act
COVID-19
Customers with PPP loans processed \| customer	2,753
PPP loans originated	$ 324,593
Customers with PPP loans outstanding \| customer	1,499
PPP loans outstanding	$ 165,746
PPP loans outstanding, amortized cost	160,906
Received	151,135
Applications in process	$ 10,217

Acquisitions - Cummins-American

Acquisitions - Cummins-American Corp. (Details) $ / shares in Units, $ in Thousands	May 31, 2021USD ($)$ / shares	May 28, 2021USD ($)$ / shares	Sep. 30, 2021USD ($)	Sep. 30, 2021USD ($)	Dec. 31, 2020USD ($)
Consideration paid
Goodwill			$ 317,766	$ 317,766	$ 311,536
CAC
Merger agreement
Share consideration conversion ratio	444.4783
Per share cash consideration entitled (in dollars per share) \| $ / shares	$ 14,173.96
Business acquisition share price \| $ / shares		$ 12,087.58
Measurement period adjustments			200
Special cash dividend		$ 60,000
Pre-tax acquisition expenses			8,400	11,400
Assets acquired:
Cash and cash equivalents	$ 298,637
Securities	702,367
Portfolio loans	430,470
Premises and equipment	17,034
Other intangible assets	17,340
Mortgage servicing rights	629
Other assets	8,176
Total assets acquired	1,474,653
Liabilities assumed:
Deposits	1,315,671
Other borrowings	16,651
Other liabilities	19,098
Total liabilities assumed	1,351,420
Net assets acquired	123,233
Consideration paid
Cash	70,358
Common stock	59,105
Total consideration paid	129,463
Goodwill	6,230		$ 6,200	$ 6,200
Fair value of PCD financial assets	60,500
Gross contractual amounts receivable relating to the PCD financial assets	65,200
Contractual cash flows specific to the PCD financial assets will not be collected	$ 4,200

Securities - General Disclosure

Securities - General Disclosures (Details) $ in Thousands	3 Months Ended		9 Months Ended
Securities - General Disclosures (Details) $ in Thousands	Sep. 30, 2021USD ($)securityshares	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)securityshares	Sep. 30, 2020USD ($)	Dec. 31, 2020USD ($)securityshares
Debt securities available for sale
Amortized Cost	$ 3,997,424		$ 3,997,424		$ 2,211,543
Gross Unrealized Gains	30,976		30,976		50,317
Gross Unrealized Losses	(31,156)		(31,156)		(673)
Fair Value	3,997,244		3,997,244		2,261,187
Debt securities available for sale, Amortized Cost
Due in one year or less	103,158		103,158
Due after one year through five years	603,868		603,868
Due after five years through ten years	385,479		385,479
Due after ten years	2,904,919		2,904,919
Amortized Cost	3,997,424		3,997,424		2,211,543
Debt securities available for sale, Fair Value
Due in one year or less	103,787		103,787
Due after one year through five years	608,074		608,074
Due after five years through ten years	393,540		393,540
Due after ten years	2,891,843		2,891,843
Fair Value	3,997,244		3,997,244		2,261,187
Realized gains and losses on sales of debt securities
Gross security gains		$ 11	524	$ 1,718
Gross security (losses)	(5)		(410)	(8)
Net gains (losses) on sales of debt securities	(5)	$ 11	114	$ 1,710
Debt securities available for sale, Fair Value
Continuous unrealized losses existing for less than 12 months, gross	2,324,265		2,324,265		221,913
Continuous unrealized losses existing for greater than 12 months, gross	8,631		8,631		5,096
Total, gross	2,332,896		2,332,896		227,009
Debt securities available for sale, Unrealized Losses
Continuous unrealized losses existing for less than 12 months, gross	(31,068)		(31,068)		(621)
Continuous unrealized losses existing greater than 12 months, gross	(88)		(88)		(52)
Total, gross	$ (31,156)		$ (31,156)		$ (673)
Debt security portfolio \| shares	1,274		1,274		1,114
Number of securities in unrealized loss position \| security	294		294		23
Securities in unrealized loss position as a percentage of aggregate carrying value of investments	1.30%		1.30%		0.30%
Collateral
Realized gains and losses on sales of debt securities
Carrying amount of debt securities pledged as collateral for public deposits, securities sold under agreements to repurchase and for other purposes	$ 729,200		$ 729,200		$ 628,000
U.S. Treasury securities
Debt securities available for sale
Amortized Cost	185,636		185,636		27,481
Gross Unrealized Gains	72		72		356
Gross Unrealized Losses	(255)		(255)
Fair Value	185,453		185,453		27,837
Debt securities available for sale, Amortized Cost
Amortized Cost	185,636		185,636		27,481
Debt securities available for sale, Fair Value
Fair Value	185,453		185,453		27,837
Debt securities available for sale, Fair Value
Continuous unrealized losses existing for less than 12 months, gross	180,317		180,317
Total, gross	180,317		180,317
Debt securities available for sale, Unrealized Losses
Continuous unrealized losses existing for less than 12 months, gross	(255)		(255)
Total, gross	(255)		(255)
Obligations of U.S. government corporations and agencies
Debt securities available for sale
Amortized Cost	37,784		37,784		67,406
Gross Unrealized Gains	1,213		1,213		2,162
Gross Unrealized Losses					(49)
Fair Value	38,997		38,997		69,519
Debt securities available for sale, Amortized Cost
Amortized Cost	37,784		37,784		67,406
Debt securities available for sale, Fair Value
Fair Value	38,997		38,997		69,519
Debt securities available for sale, Fair Value
Continuous unrealized losses existing for greater than 12 months, gross					4,957
Total, gross					4,957
Debt securities available for sale, Unrealized Losses
Continuous unrealized losses existing greater than 12 months, gross					(49)
Total, gross					(49)
Obligations of states and political subdivisions
Debt securities available for sale
Amortized Cost	288,023		288,023		292,940
Gross Unrealized Gains	8,743		8,743		11,779
Gross Unrealized Losses	(754)		(754)		(8)
Fair Value	296,012		296,012		304,711
Debt securities available for sale, Amortized Cost
Amortized Cost	288,023		288,023		292,940
Debt securities available for sale, Fair Value
Fair Value	296,012		296,012		304,711
Debt securities available for sale, Fair Value
Continuous unrealized losses existing for less than 12 months, gross	55,434		55,434		762
Total, gross	55,434		55,434		762
Debt securities available for sale, Unrealized Losses
Continuous unrealized losses existing for less than 12 months, gross	(754)		(754)		(8)
Total, gross	(754)		(754)		(8)
Commercial mortgage-backed securities
Debt securities available for sale
Amortized Cost	607,097		607,097		408,716
Gross Unrealized Gains	5,278		5,278		10,212
Gross Unrealized Losses	(9,078)		(9,078)		(312)
Fair Value	603,297		603,297		418,616
Debt securities available for sale, Amortized Cost
Amortized Cost	607,097		607,097		408,716
Debt securities available for sale, Fair Value
Fair Value	603,297		603,297		418,616
Debt securities available for sale, Fair Value
Continuous unrealized losses existing for less than 12 months, gross	434,220		434,220		129,655
Continuous unrealized losses existing for greater than 12 months, gross	3,063		3,063
Total, gross	437,283		437,283		129,655
Debt securities available for sale, Unrealized Losses
Continuous unrealized losses existing for less than 12 months, gross	(9,036)		(9,036)		(312)
Continuous unrealized losses existing greater than 12 months, gross	(42)		(42)
Total, gross	(9,078)		(9,078)		(312)
Residential mortgage-backed securities
Debt securities available for sale
Amortized Cost	2,108,388		2,108,388		1,344,047
Gross Unrealized Gains	13,973		13,973		24,571
Gross Unrealized Losses	(19,753)		(19,753)		(303)
Fair Value	2,102,608		2,102,608		1,368,315
Debt securities available for sale, Amortized Cost
Amortized Cost	2,108,388		2,108,388		1,344,047
Debt securities available for sale, Fair Value
Fair Value	2,102,608		2,102,608		1,368,315
Debt securities available for sale, Fair Value
Continuous unrealized losses existing for less than 12 months, gross	1,392,160		1,392,160		89,997
Continuous unrealized losses existing for greater than 12 months, gross	5,568		5,568		139
Total, gross	1,397,728		1,397,728		90,136
Debt securities available for sale, Unrealized Losses
Continuous unrealized losses existing for less than 12 months, gross	(19,707)		(19,707)		(300)
Continuous unrealized losses existing greater than 12 months, gross	(46)		(46)		(3)
Total, gross	(19,753)		(19,753)		(303)
Asset-backed securities
Debt securities available for sale
Amortized Cost	468,618		468,618
Gross Unrealized Gains	323		323
Gross Unrealized Losses	(134)		(134)
Fair Value	468,807		468,807
Debt securities available for sale, Amortized Cost
Amortized Cost	468,618		468,618
Debt securities available for sale, Fair Value
Fair Value	468,807		468,807
Debt securities available for sale, Fair Value
Continuous unrealized losses existing for less than 12 months, gross	51,183		51,183
Total, gross	51,183		51,183
Debt securities available for sale, Unrealized Losses
Continuous unrealized losses existing for less than 12 months, gross	(134)		(134)
Total, gross	(134)		(134)
Corporate debt securities
Debt securities available for sale
Amortized Cost	301,878		301,878		70,953
Gross Unrealized Gains	1,374		1,374		1,237
Gross Unrealized Losses	(1,182)		(1,182)		(1)
Fair Value	302,070		302,070		72,189
Debt securities available for sale, Amortized Cost
Amortized Cost	301,878		301,878		70,953
Debt securities available for sale, Fair Value
Fair Value	302,070		302,070		72,189
Debt securities available for sale, Fair Value
Continuous unrealized losses existing for less than 12 months, gross	210,951		210,951		1,499
Total, gross	210,951		210,951		1,499
Debt securities available for sale, Unrealized Losses
Continuous unrealized losses existing for less than 12 months, gross	(1,182)		(1,182)		(1)
Total, gross	$ (1,182)		$ (1,182)		$ (1)

Portfolio Loans- Distribution o

Portfolio Loans- Distribution of portfolio loans (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2019
Distributions of portfolio loans
Portfolio loans	$ 7,150,635		$ 6,814,177
ACL	(92,802)	$ (95,410)	(101,048)	$ (98,841)	$ (96,046)	$ (53,748)
Portfolio loans, net	7,057,833		6,713,129
Commercial Loans
Distributions of portfolio loans
Portfolio loans	1,931,863		2,014,576
ACL	(24,406)	(24,356)	(23,866)	(24,363)	(24,146)	(18,291)
Commercial Real Estate Loans
Distributions of portfolio loans
Portfolio loans	3,068,622		2,892,535
ACL	(39,831)	(39,974)	(46,230)	(45,917)	(42,680)	(21,190)
Real Estate Construction
Distributions of portfolio loans
Portfolio loans	430,857		461,786
ACL	(6,121)	(7,599)	(8,193)	(7,419)	(7,792)	(3,204)
Retail Real Estate
Distributions of portfolio loans
Portfolio loans	1,512,884		1,407,852
ACL	(19,352)	(20,505)	(21,992)	(20,184)	(20,405)	(10,495)
Retail Other
Distributions of portfolio loans
Portfolio loans	206,409		37,428
ACL	$ (3,092)	$ (2,976)	$ (767)	$ (958)	$ (1,023)	$ (568)

Portfolio Loans - Narrative (De

Portfolio Loans - Narrative (Details) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
Portfolio Loans - Narrative (Details) $ in Thousands	Sep. 30, 2021USD ($)loan	Sep. 30, 2020USD ($)loan	Sep. 30, 2021USD ($)loan	Sep. 30, 2020USD ($)loan	Dec. 31, 2020USD ($)
Distributions of portfolio loans
Net deferred loan origination (fees) costs	$ 4,900		$ 4,900		$ 2,400
Net accretable purchase accounting adjustments			10,100		10,900
Acquired two non-accrual loans from GSB	4,400		4,400
Gross interest income that would have been recorded if impaired loans had been current	300	$ 500	1,200	$ 1,400
Amount of interest collected and recognized on a cash basis	$ 400		$ 400
TDRs subsequently classified as non-performing and had payment defaults \| loan	0	0	0	0
Loans in the process of foreclosure	$ 200		$ 200
Retail Real Estate
Distributions of portfolio loans
Loans purchased	0	$ 0	32,200	$ 43,900
Retail Real Estate \| Non-performing TDRs
Distributions of portfolio loans
Loans classified as a TDR			$ 100
TDRs subsequently classified as non-performing and had payment defaults \| loan			1
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 \| Commercial Loans
Distributions of portfolio loans
Limit above which loans are annually reviewed			350
PPP Loans
Distributions of portfolio loans
Amortized cost of the loans outstanding	$ 178,231		$ 178,231		$ 446,400

Portfolio Loans - Summary of ri

Portfolio Loans - Summary of risk grades segregated by category (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Loans
Portfolio loans	$ 7,150,635	$ 6,814,177
Pass
Loans
Portfolio loans	6,448,171	6,016,748
Watch
Loans
Portfolio loans	479,566	554,970
Special Mention
Loans
Portfolio loans	145,634	150,481
Substandard
Loans
Portfolio loans	51,895	69,048
Substandard Non-accrual
Loans
Portfolio loans	25,369	22,930
Commercial
Loans
Portfolio loans	1,931,863	2,014,576
Commercial \| Pass
Loans
Portfolio loans	1,718,398	1,768,755
Commercial \| Watch
Loans
Portfolio loans	115,108	136,948
Commercial \| Special Mention
Loans
Portfolio loans	62,094	72,447
Commercial \| Substandard
Loans
Portfolio loans	26,033	27,903
Commercial \| Substandard Non-accrual
Loans
Portfolio loans	10,230	8,523
Commercial real estate
Loans
Portfolio loans	3,068,622	2,892,535
Commercial real estate \| Pass
Loans
Portfolio loans	2,623,243	2,393,372
Commercial real estate \| Watch
Loans
Portfolio loans	338,270	383,277
Commercial real estate \| Special Mention
Loans
Portfolio loans	81,525	75,486
Commercial real estate \| Substandard
Loans
Portfolio loans	18,964	34,897
Commercial real estate \| Substandard Non-accrual
Loans
Portfolio loans	6,620	5,503
Real estate construction
Loans
Portfolio loans	430,857	461,786
Real estate construction \| Pass
Loans
Portfolio loans	413,986	434,681
Real estate construction \| Watch
Loans
Portfolio loans	14,464	24,481
Real estate construction \| Special Mention
Loans
Portfolio loans	7	77
Real estate construction \| Substandard
Loans
Portfolio loans	2,400	2,546
Real estate construction \| Substandard Non-accrual
Loans
Portfolio loans		1
Retail Real Estate
Loans
Portfolio loans	1,512,884	1,407,852
Retail Real Estate \| Pass
Loans
Portfolio loans	1,486,172	1,382,616
Retail Real Estate \| Watch
Loans
Portfolio loans	11,724	10,264
Retail Real Estate \| Special Mention
Loans
Portfolio loans	2,008	2,471
Retail Real Estate \| Substandard
Loans
Portfolio loans	4,498	3,702
Retail Real Estate \| Substandard Non-accrual
Loans
Portfolio loans	8,482	8,799
Retail Other
Loans
Portfolio loans	206,409	37,428
Retail Other \| Pass
Loans
Portfolio loans	206,372	37,324
Retail Other \| Substandard Non-accrual
Loans
Portfolio loans	37	104
Commercial Loans
Loans
Portfolio loans	1,931,863	2,014,576
Commercial Real Estate Loans
Loans
Portfolio loans	3,068,622	2,892,535
Real Estate Construction
Loans
Portfolio loans	430,857	461,786
Retail Real Estate
Loans
Portfolio loans	1,512,884	1,407,852
Retail Other
Loans
Portfolio loans	$ 206,409	$ 37,428

Portfolio Loans and allowance f

Portfolio Loans and allowance for credit losses - Risk grades of portfolio loans by origination year (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Loans
2021	$ 1,872,128
2020	1,432,087	$ 2,216,953
2019	977,044	1,168,069
2018	595,136	798,327
2017	500,258	699,747
2016		441,456
Prior	770,563	650,638
Revolving loans	1,003,419	838,987
Ending balance	7,150,635	6,814,177
Pass
Loans
Ending balance	6,448,171	6,016,748
Watch
Loans
Ending balance	479,566	554,970
Special Mention
Loans
Ending balance	145,634	150,481
Substandard
Loans
Ending balance	51,895	69,048
Substandard Non-accrual
Loans
Ending balance	25,369	22,930
Commercial
Loans
2021	494,584
2020	275,649	843,404
2019	139,989	190,061
2018	101,782	127,410
2017	91,027	118,185
2016		72,647
Prior	154,513	105,947
Revolving loans	674,318	556,922
Ending balance	1,931,863	2,014,576
Commercial \| Pass
Loans
2021	468,833
2020	265,204	812,536
2019	112,809	158,307
2018	90,292	107,565
2017	73,553	93,190
2016		61,847
Prior	132,127	79,970
Revolving loans	575,580	455,340
Ending balance	1,718,398	1,768,755
Commercial \| Watch
Loans
2021	15,078
2020	5,355	16,544
2019	19,783	22,247
2018	5,668	14,954
2017	7,545	13,724
2016		2,577
Prior	4,287	10,943
Revolving loans	57,392	55,959
Ending balance	115,108	136,948
Commercial \| Special Mention
Loans
2021	3,011
2020	1,143	6,402
2019	2,479	2,671
2018	4,385	2,069
2017	6,864	7,164
2016		6,763
Prior	12,484	13,733
Revolving loans	31,728	33,645
Ending balance	62,094	72,447
Commercial \| Substandard
Loans
2021	3,357
2020	3,504	7,772
2019	3,321	3,791
2018	1,437	2,371
2017	1,244	1,939
2016		819
Prior	5,552	1,233
Revolving loans	7,618	9,978
Ending balance	26,033	27,903
Commercial \| Substandard Non-accrual
Loans
2021	4,305
2020	444	150
2019	1,597	3,045
2018		451
2017	1,821	2,168
2016		641
Prior	63	68
Revolving loans	2,000	2,000
Ending balance	10,230	8,523
Commercial real estate
Loans
2021	729,627
2020	747,753	840,882
2019	603,588	628,303
2018	374,403	463,787
2017	299,213	437,776
2016		222,941
Prior	291,250	278,923
Revolving loans	22,787	19,923
Ending balance	3,068,622	2,892,535
Commercial real estate \| Pass
Loans
2021	655,907
2020	690,244	717,559
2019	463,830	503,977
2018	289,396	360,573
2017	257,618	384,843
2016		180,555
Prior	245,795	227,068
Revolving loans	20,453	18,797
Ending balance	2,623,243	2,393,372
Commercial real estate \| Watch
Loans
2021	41,596
2020	40,404	88,297
2019	130,282	110,526
2018	62,312	90,412
2017	27,226	33,734
2016		32,887
Prior	34,572	27,023
Revolving loans	1,878	398
Ending balance	338,270	383,277
Commercial real estate \| Special Mention
Loans
2021	27,115
2020	7,056	16,490
2019	7,551	8,858
2018	18,661	10,490
2017	10,436	10,505
2016		7,102
Prior	10,430	21,808
Revolving loans	276	233
Ending balance	81,525	75,486
Commercial real estate \| Substandard
Loans
2021	4,894
2020	9,289	17,445
2019	1,574	4,166
2018	2,072	1,491
2017	526	7,812
2016		2,111
Prior	429	1,377
Revolving loans	180	495
Ending balance	18,964	34,897
Commercial real estate \| Substandard Non-accrual
Loans
2021	114
2020	761	1,091
2019	352	776
2018	1,962	821
2017	3,407	882
2016		286
Prior	24	1,647
Ending balance	6,620	5,503
Real estate construction
Loans
2021	166,999
2020	150,214	200,184
2019	93,763	175,330
2018	4,193	64,362
2017	2,516	3,306
2016		1,071
Prior	1,372	1,445
Revolving loans	11,801	16,088
Ending balance	430,857	461,786
Real estate construction \| Pass
Loans
2021	160,719
2020	141,699	179,232
2019	93,701	171,663
2018	3,918	64,025
2017	899	1,468
2016		761
Prior	1,249	1,444
Revolving loans	11,801	16,088
Ending balance	413,986	434,681
Real estate construction \| Watch
Loans
2021	6,279
2020	6,115	18,485
2019	55	3,657
2018	276	337
2017	1,616	1,838
2016		164
Prior	123
Ending balance	14,464	24,481
Real estate construction \| Special Mention
Loans
2020		67
2019	7	10
Ending balance	7	77
Real estate construction \| Substandard
Loans
2020	2,400	2,400
2016		146
Ending balance	2,400	2,546
Real estate construction \| Substandard Non-accrual
Loans
Prior		1
Ending balance		1
Retail Real Estate
Loans
2021	435,305
2020	233,281	324,112
2019	109,330	164,938
2018	95,015	137,163
2017	97,553	137,949
2016		144,101
Prior	320,771	263,826
Revolving loans	221,629	235,763
Ending balance	1,512,884	1,407,852
Retail Real Estate \| Pass
Loans
2021	428,556
2020	230,120	319,302
2019	107,262	162,711
2018	92,875	135,065
2017	95,667	136,427
2016		140,600
Prior	313,708	257,147
Revolving loans	217,984	231,364
Ending balance	1,486,172	1,382,616
Retail Real Estate \| Watch
Loans
2021	2,641
2020	2,666	2,715
2019	1,982	2,053
2018	1,521	1,396
2017	352	349
2016		579
Prior	270	233
Revolving loans	2,292	2,939
Ending balance	11,724	10,264
Retail Real Estate \| Special Mention
Loans
2021	1,979
2020	29	509
2016		1,962
Ending balance	2,008	2,471
Retail Real Estate \| Substandard
Loans
2021	1,630
2020	321	899
2019	14	96
2018	73	56
2017	166	26
2016		727
Prior	2,210	1,631
Revolving loans	84	267
Ending balance	4,498	3,702
Retail Real Estate \| Substandard Non-accrual
Loans
2021	500
2020	145	687
2019	72	78
2018	546	646
2017	1,369	1,147
2016		233
Prior	4,582	4,815
Revolving loans	1,268	1,193
Ending balance	8,482	8,799
Retail Other
Loans
2021	45,614
2020	25,188	8,371
2019	30,373	9,437
2018	19,742	5,605
2017	9,949	2,531
2016		696
Prior	2,658	497
Revolving loans	72,885	10,291
Ending balance	206,409	37,428
Retail Other \| Pass
Loans
2021	45,614
2020	25,177	8,357
2019	30,366	9,430
2018	19,737	5,600
2017	9,935	2,516
2016		691
Prior	2,658	440
Revolving loans	72,885	10,290
Ending balance	206,372	37,324
Retail Other \| Substandard Non-accrual
Loans
2020	11	14
2019	7	7
2018	5	5
2017	14	15
2016		5
Prior		57
Revolving loans		1
Ending balance	37	104
Commercial Loans
Loans
Ending balance	1,931,863	2,014,576
Commercial Real Estate Loans
Loans
Ending balance	3,068,622	2,892,535
Real Estate Construction
Loans
Ending balance	430,857	461,786
Retail Real Estate
Loans
Ending balance	1,512,884	1,407,852
Retail Other
Loans
Ending balance	$ 206,409	$ 37,428

Portfolio Loans and allowance_2

Portfolio Loans and allowance for credit losses - Analysis of loans past due and still accruing or non-accrual status (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Loans past due
90+Days	$ 491	$ 1,371
Non-accrual Loans	25,369	22,930
30 to 59 Days
Loans past due
Loans past due, still accruing	4,224	6,794
60 to 89 Days
Loans past due
Loans past due, still accruing	2,222	784
Commercial
Loans past due
Non-accrual Loans	10,230	8,523
Commercial \| 30 to 59 Days
Loans past due
Loans past due, still accruing	1,092	243
Commercial \| 60 to 89 Days
Loans past due
Loans past due, still accruing	202
Commercial real estate
Loans past due
Non-accrual Loans	6,620	5,503
Commercial real estate \| 30 to 59 Days
Loans past due
Loans past due, still accruing	882
Real estate construction
Loans past due
Non-accrual Loans		1
Real estate construction \| 30 to 59 Days
Loans past due
Loans past due, still accruing		237
Real estate construction \| 60 to 89 Days
Loans past due
Loans past due, still accruing		235
Retail Real Estate
Loans past due
90+Days	491	1,305
Non-accrual Loans	8,482	8,799
Retail Real Estate \| 30 to 59 Days
Loans past due
Loans past due, still accruing	2,068	6,248
Retail Real Estate \| 60 to 89 Days
Loans past due
Loans past due, still accruing	2,020	400
Retail Other
Loans past due
90+Days		66
Non-accrual Loans	37	104
Retail Other \| 30 to 59 Days
Loans past due
Loans past due, still accruing	$ 182	66
Retail Other \| 60 to 89 Days
Loans past due
Loans past due, still accruing		$ 149

Portfolio Loans - Summary of TD

Portfolio Loans - Summary of TDRs (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Restructured loans
Total TDRs	$ 3,368	$ 5,078
In compliance with modified terms
Restructured loans
Total TDRs	2,083	3,814
30-89 days past due
Restructured loans
Total TDRs		15
Non-performing TDRs
Restructured loans
Total TDRs	$ 1,285	$ 1,249

Portfolio Loans - Summarize TDR

Portfolio Loans - Summarize TDRs (Details) $ in Thousands	3 Months Ended	9 Months Ended
Portfolio Loans - Summarize TDRs (Details) $ in Thousands	Sep. 30, 2020USD ($)contract	Sep. 30, 2021USD ($)contract	Sep. 30, 2020USD ($)contract
Commercial
Financing Receivable, Impaired [Line Items]
Number of Contracts \| contract		1	3
Commercial \| Rate Modification
Financing Receivable, Impaired [Line Items]
Recorded Investment \| $		$ 444	$ 324
Commercial real estate
Financing Receivable, Impaired [Line Items]
Number of Contracts \| contract			1
Commercial real estate \| Rate Modification
Financing Receivable, Impaired [Line Items]
Recorded Investment \| $			$ 651
Retail Real Estate
Financing Receivable, Impaired [Line Items]
Number of Contracts \| contract	1		2
Retail Real Estate \| Payment Modification
Financing Receivable, Impaired [Line Items]
Recorded Investment \| $	$ 167		$ 353

Portfolio Loans - Activity in t

Portfolio Loans - Activity in the allowance for loan losses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Activity in the allowance for loan losses
ACL beginning balance	$ 95,410	$ 96,046	$ 101,048	$ 53,748
Provision for credit losses	(1,869)	5,549	(10,365)	35,656
Charged-off	(1,208)	(3,397)	(3,711)	(9,247)
Recoveries	469	643	1,652	1,851
ACL ending balance	92,802	98,841	92,802	98,841
Allowance for loan losses Ending balance attributed to:
Loans individually evaluated for impairment	4,475		4,475		$ 1,625
Loans collectively evaluated for impairment	88,327		88,327		99,423
Ending balance	92,802	98,841	92,802	98,841	101,048
Loans:
Loans individually evaluated for impairment	20,366		20,366		20,246
Loans collectively evaluated for impairment	7,130,269		7,130,269		6,793,931
Ending balance	7,150,635		7,150,635		6,814,177
Day 1 PCD
Activity in the allowance for loan losses
ACL beginning balance			4,178
Allowance for loan losses Ending balance attributed to:
Ending balance					4,178
Commercial Loans
Activity in the allowance for loan losses
ACL beginning balance	24,356	24,146	23,866	18,291
Provision for credit losses	657	2,593	(1,428)	10,739
Charged-off	(764)	(2,500)	(2,026)	(5,682)
Recoveries	157	124	448	300
ACL ending balance	24,406	24,363	24,406	24,363
Allowance for loan losses Ending balance attributed to:
Loans individually evaluated for impairment	4,450		4,450		1,600
Loans collectively evaluated for impairment	19,956		19,956		22,266
Ending balance	24,406	24,363	24,406	24,363	23,866
Loans:
Loans individually evaluated for impairment	10,206		10,206		8,372
Loans collectively evaluated for impairment	1,921,657		1,921,657		2,006,204
Ending balance	1,931,863		1,931,863		2,014,576
Commercial Loans \| Day 1 PCD
Activity in the allowance for loan losses
ACL beginning balance			3,546
Allowance for loan losses Ending balance attributed to:
Ending balance					3,546
Commercial Real Estate Loans
Activity in the allowance for loan losses
ACL beginning balance	39,974	42,680	46,230	21,190
Provision for credit losses	(25)	3,703	(6,109)	17,090
Charged-off	(191)	(569)	(812)	(1,833)
Recoveries	73	103	186	164
ACL ending balance	39,831	45,917	39,831	45,917
Allowance for loan losses Ending balance attributed to:
Loans collectively evaluated for impairment	39,831		39,831		46,230
Ending balance	39,831	45,917	39,831	45,917	46,230
Loans:
Loans individually evaluated for impairment	6,222		6,222		6,067
Loans collectively evaluated for impairment	3,062,400		3,062,400		2,886,468
Ending balance	3,068,622		3,068,622		2,892,535
Commercial Real Estate Loans \| Day 1 PCD
Activity in the allowance for loan losses
ACL beginning balance			336
Allowance for loan losses Ending balance attributed to:
Ending balance					336
Real Estate Construction
Activity in the allowance for loan losses
ACL beginning balance	7,599	7,792	8,193	3,204
Provision for credit losses	(1,503)	(381)	(2,082)	1,082
Charged-off		(18)	(209)	(18)
Recoveries	25	26	219	197
ACL ending balance	6,121	7,419	6,121	7,419
Allowance for loan losses Ending balance attributed to:
Loans collectively evaluated for impairment	6,121		6,121		8,193
Ending balance	6,121	7,419	6,121	7,419	8,193
Loans:
Loans individually evaluated for impairment	276		276		292
Loans collectively evaluated for impairment	430,581		430,581		461,494
Ending balance	430,857		430,857		461,786
Retail Real Estate
Activity in the allowance for loan losses
ACL beginning balance	20,505	20,405	21,992	10,495
Provision for credit losses	(1,155)	(383)	(3,028)	6,635
Charged-off	(155)	(139)	(315)	(1,139)
Recoveries	157	301	574	901
ACL ending balance	19,352	20,184	19,352	20,184
Allowance for loan losses Ending balance attributed to:
Loans individually evaluated for impairment	25		25		25
Loans collectively evaluated for impairment	19,327		19,327		21,967
Ending balance	19,352	20,184	19,352	20,184	21,992
Loans:
Loans individually evaluated for impairment	3,662		3,662		5,515
Loans collectively evaluated for impairment	1,509,222		1,509,222		1,402,337
Ending balance	1,512,884		1,512,884		1,407,852
Retail Real Estate \| Day 1 PCD
Activity in the allowance for loan losses
ACL beginning balance			129
Allowance for loan losses Ending balance attributed to:
Ending balance					129
Retail Other
Activity in the allowance for loan losses
ACL beginning balance	2,976	1,023	767	568
Provision for credit losses	157	17	2,282	110
Charged-off	(98)	(171)	(349)	(575)
Recoveries	57	89	225	289
ACL ending balance	3,092	958	3,092	958
Allowance for loan losses Ending balance attributed to:
Loans collectively evaluated for impairment	3,092		3,092		767
Ending balance	3,092	958	3,092	958	767
Loans:
Loans collectively evaluated for impairment	206,409		206,409		37,428
Ending balance	$ 206,409		206,409		37,428
Retail Other \| Day 1 PCD
Activity in the allowance for loan losses
ACL beginning balance			$ 167
Allowance for loan losses Ending balance attributed to:
Ending balance					$ 167
Cumulative Effect, Period of Adoption, Adjustment
Activity in the allowance for loan losses
ACL ending balance		16,833		16,833
Allowance for loan losses Ending balance attributed to:
Ending balance		16,833		16,833
Cumulative Effect, Period of Adoption, Adjustment \| Commercial Loans
Activity in the allowance for loan losses
ACL ending balance		715		715
Allowance for loan losses Ending balance attributed to:
Ending balance		715		715
Cumulative Effect, Period of Adoption, Adjustment \| Commercial Real Estate Loans
Activity in the allowance for loan losses
ACL ending balance		9,306		9,306
Allowance for loan losses Ending balance attributed to:
Ending balance		9,306		9,306
Cumulative Effect, Period of Adoption, Adjustment \| Real Estate Construction
Activity in the allowance for loan losses
ACL ending balance		2,954		2,954
Allowance for loan losses Ending balance attributed to:
Ending balance		2,954		2,954
Cumulative Effect, Period of Adoption, Adjustment \| Retail Real Estate
Activity in the allowance for loan losses
ACL ending balance		3,292		3,292
Allowance for loan losses Ending balance attributed to:
Ending balance		3,292		3,292
Cumulative Effect, Period of Adoption, Adjustment \| Retail Other
Activity in the allowance for loan losses
ACL ending balance		566		566
Allowance for loan losses Ending balance attributed to:
Ending balance		$ 566		$ 566

Portfolio Loans - Loans identif

Portfolio Loans - Loans identified as impaired, segregated by category (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Loans identified as impaired
Unpaid Contractual Principal Balance	$ 25,717	$ 30,342
Recorded Investment with No Allowance	12,138	15,850
Recorded Investment with Allowance	8,228	4,396
Total Recorded Investment	20,366	20,246
Related Allowance	4,475	1,625
Average Recorded Investment	20,819	25,299
Collateral dependent loans secured by real estate or business assets	15,500
Commercial Loans
Loans identified as impaired
Unpaid Contractual Principal Balance	14,233	16,771
Recorded Investment with No Allowance	2,003	4,001
Recorded Investment with Allowance	8,203	4,371
Total Recorded Investment	10,206	8,372
Related Allowance	4,450	1,600
Average Recorded Investment	8,945	7,920
Commercial Real Estate Loans
Loans identified as impaired
Unpaid Contractual Principal Balance	7,188	7,406
Recorded Investment with No Allowance	6,222	6,067
Total Recorded Investment	6,222	6,067
Average Recorded Investment	6,906	9,349
Real Estate Construction
Loans identified as impaired
Unpaid Contractual Principal Balance	276	292
Recorded Investment with No Allowance	276	292
Total Recorded Investment	276	292
Average Recorded Investment	338	581
Retail Real Estate
Loans identified as impaired
Unpaid Contractual Principal Balance	4,020	5,873
Recorded Investment with No Allowance	3,637	5,490
Recorded Investment with Allowance	25	25
Total Recorded Investment	3,662	5,515
Related Allowance	25	25
Average Recorded Investment	$ 4,630	7,439
Retail Other
Loans identified as impaired
Average Recorded Investment		$ 10

Deposits (Details)

Deposits (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Deposits
Demand deposits, noninterest-bearing	$ 3,453,906	$ 2,552,039
Interest-bearing transaction deposits	2,938,109	2,263,093
Saving deposits and money market deposits	3,398,917	2,743,369
Time deposits	1,026,935	1,119,348
Total deposits	10,817,867	8,677,849
Brokered saving deposits and money market deposits	2,002	2,251
Brokered time deposits	264	5,257
Aggregate amount of time deposits with a minimum denomination of $100,000	504,367	568,735
Aggregate amount of time deposits with a minimum denomination that meets or exceeds the FDIC insurance limit of $250,000	156,419	192,563
Maturities of time deposits
October 1, 2021 - September 30, 2022	719,932
October 1, 2021 - September 30, 2022	188,639
October 1, 2023 - September 30, 2024	85,339
October 1, 2024 - September 30, 2025	20,008
October 1, 2025 - September 30, 2026	12,280
Thereafter	737
Total time deposits	$ 1,026,935	$ 1,119,348

Borrowings - Securities sold un

Borrowings - Securities sold under agreements to repurchase (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Borrowings
Securities sold under agreements to repurchase	$ 241,242	$ 175,614
Securities sold under agreements to repurchase, weighted average rate	0.08%	0.13%

Borrowings - Amended and Restat

Borrowings - Amended and Restated Credit Agreement (Details) - USD ($)	Sep. 30, 2021	May 28, 2021	Dec. 31, 2020
Borrowings
Long-term debt	$ 49,233,000		$ 4,757,000
Term Loan
Borrowings
Issuance of debt		$ 60,000,000
Long-term debt	45,000,000
Revolving line of credit
Borrowings
Issuance of debt		$ 40,000,000
Second Amended and Restated Credit Agreement \| Term Loan
Borrowings
Long-term debt	57,000,000
Second Amended and Restated Credit Agreement \| Revolving line of credit
Borrowings
Balance outstanding	$ 0
Second Amended and Restated Credit Agreement \| One-month LIBOR rate
Borrowings
Interest rate (as a percent)		1.75%

Borrowings - Short-term borrowi

Borrowings - Short-term borrowings (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Short-term borrowings
Short-term borrowings	$ 17,673	$ 4,658
Federal funds purchased	0	0
FHLB advances
Short-term borrowings
Short-term borrowings	5,673	$ 4,658
Term Loan, current portion due within 12 months
Short-term borrowings
Short-term borrowings	$ 12,000
Minimum
Short-term borrowings
Short-term borrowings, mature period	1 day
Maximum
Short-term borrowings
Short-term borrowings, mature period	90 days

Borrowings - Long-term Debt (De

Borrowings - Long-term Debt (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Long-term debt
Long-term debt	$ 49,233	$ 4,757
FHLB advances
Long-term debt
Notes payable original maturity term	5 years	5 years
Interest rate (as a percent)	3.04%	3.04%
Notes payable, FHLB, original maturity of 5 years, collateralized by FHLB deposits, residential and commercial real estate loans and FHLB stock
Long-term debt
Long-term debt	$ 4,233	$ 4,757
Term Loan
Long-term debt
Long-term debt	$ 45,000

Borrowings - Senior notes and S

Borrowings - Senior notes and Subordinate Notes (Details) - USD ($) $ in Thousands	Jun. 01, 2020	May 25, 2017	Sep. 30, 2021	Dec. 31, 2020
Long-term debt
Unamortized debt issuance cost			$ 2,453	$ 2,965
3.75% notes maturing May 25, 2022 \| Senior notes
Long-term debt
Issuance of debt		$ 40,000
Interest rate (as a percent)		3.75%
Unamortized debt issuance cost			90	191
4.75% notes maturing May 25, 2027 \| Subordinated debt
Long-term debt
Issuance of debt		$ 60,000
Fixed payment term of note		5 years
Duration of fixed interest rate		5 years
Unamortized debt issuance cost			575	651
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	$ 125,000
Duration of fixed interest rate	5 years
Floating interest rate margin (as a percent)	5.11%
Unamortized debt issuance cost			$ 1,788	$ 2,123
5.25% notes maturing June 1, 2030 \| First Five Years \| Subordinated debt
Long-term debt
Interest rate (as a percent)	5.25%

Regulatory Capital (Details)

Regulatory Capital (Details) $ in Thousands	Sep. 30, 2021USD ($)	Dec. 31, 2020USD ($)
Total Capital (to Risk Weighted Assets), Amount
Actual, Amount	$ 1,313,989	$ 1,245,997
Minimum Capital Requirement, Amount	660,850	585,015
Minimum To Be Well Capitalized, Amount	$ 826,062	$ 731,269
Total Capital (to Risk Weighted Assets), Ratio
Actual, Ratio (as a percent)	15.91	17.04
Minimum Capital Requirement, Ratio (as a percent)	8	8
Minimum To Be Well Capitalized, Ratio (as a percent)	10	10
Tier 1 Capital (to Risk Weighted Assets), Amount
Actual, Amount	$ 1,060,756	$ 983,033
Minimum Capital Requirement, Amount	495,637	438,761
Minimum To Be Well Capitalized, Amount	$ 660,850	$ 585,015
Tier 1 Capital (to Risk Weighted Assets), Ratio
Actual, Ratio (as a percent)	12.84	13.44
Minimum Capital Requirement, Ratio (as a percent)	6	6
Minimum To Be Well Capitalized, Ratio (as a percent)	8	8
Common Equity Tier 1 Capital (to Risk Weighted Assets), Amount
Actual, Amount	$ 986,756	$ 909,033
Minimum Capital Requirement, Amount	371,728	329,071
Minimum To Be Well Capitalized, Amount	$ 536,940	$ 475,325
Common Equity Tier 1 Capital (to Risk Weighted Assets), Ratio
Actual, Ratio (as a percent)	11.95%	12.43%
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	$ 1,060,756	$ 983,033
Minimum Capital Requirement, Amount	$ 493,201	$ 401,717
Tier 1 Capital (to Average Assets), Ratio
Actual, Ratio (as a percent)	8.60	9.79
Minimum Capital Requirement, Ratio (as a percent)	4	4
Busey Bank
Total Capital (to Risk Weighted Assets), Amount
Actual, Amount	$ 1,306,293	$ 1,131,875
Minimum Capital Requirement, Amount	658,612	584,082
Minimum To Be Well Capitalized, Amount	$ 823,265	$ 730,103
Total Capital (to Risk Weighted Assets), Ratio
Actual, Ratio (as a percent)	15.87	15.50
Minimum Capital Requirement, Ratio (as a percent)	8	8
Minimum To Be Well Capitalized, Ratio (as a percent)	10	10
Tier 1 Capital (to Risk Weighted Assets), Amount
Actual, Amount	$ 1,238,060	$ 1,053,910
Minimum Capital Requirement, Amount	493,959	438,062
Minimum To Be Well Capitalized, Amount	$ 658,612	$ 584,082
Tier 1 Capital (to Risk Weighted Assets), Ratio
Actual, Ratio (as a percent)	15.04	14.44
Minimum Capital Requirement, Ratio (as a percent)	6	6
Minimum To Be Well Capitalized, Ratio (as a percent)	8	8
Common Equity Tier 1 Capital (to Risk Weighted Assets), Amount
Actual, Amount	$ 1,238,060	$ 1,053,910
Minimum Capital Requirement, Amount	370,469	328,546
Minimum To Be Well Capitalized, Amount	$ 535,123	$ 474,567
Common Equity Tier 1 Capital (to Risk Weighted Assets), Ratio
Actual, Ratio (as a percent)	15.04%	14.44%
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	$ 1,238,060	$ 1,053,910
Minimum Capital Requirement, Amount	492,170	400,581
Minimum To Be Well Capitalized, Amount	$ 615,212	$ 500,727
Tier 1 Capital (to Average Assets), Ratio
Actual, Ratio (as a percent)	10.06	10.52
Minimum Capital Requirement, Ratio (as a percent)	4	4
Minimum To Be Well Capitalized, Ratio (as a percent)	5	5

Employee Benefit Plans (Details

Employee Benefit Plans (Details)	Sep. 30, 2021shares
2021 Employee Stock Purchase Plan
Employee Benefit Plans
Shares Remaining Available for Issuance Pursuant to the Plans	585,342

Stock-based Compensation (Detai

Stock-based Compensation (Details)	9 Months Ended
Stock-based Compensation (Details)	Sep. 30, 2021shares
RSUs
Share-based Compensation
Number of shares of common stock per award	1
DSUs
Share-based Compensation
Number of shares of common stock per award	1
Vesting period	1 year
Settlement period	30 days
PSUs
Share-based Compensation
Number of shares of common stock per award	1
Minimum \| RSUs
Share-based Compensation
Requisite service periods	1 year
Maximum \| RSUs
Share-based Compensation
Requisite service periods	5 years

Stock-based Compensation - Awar

Stock-based Compensation - Award Status (Details) - Options - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Shares
Outstanding at beginning of period (in shares)	39,085
Expired (in shares)	(7,479)
Outstanding at end of period (in shares)	31,606	39,085
Exercisable at end of period (in shares)	31,606
Weighted-Average Exercise Price
Outstanding at beginning of period (in dollars per share)	$ 23.53
Expired (in dollars per share)	23.53
Outstanding at end of Exercisable at end of period (in dollars per share)	23.53	$ 23.53
Exercisable at end of period (in dollars per share)	$ 23.53
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Weighted-Average Remaining Contractual Life, Outstanding	5 years 1 month 17 days	5 years 10 months 17 days
Weighted-Average Remaining Contractual Life, Exercisable	5 years 1 month 17 days

Stock-based Compensation - Rest

Stock-based Compensation - Restricted , Performance and Deferred Stock Units (Details) - USD ($) $ / shares in Units, $ in Thousands	Sep. 22, 2021	May 19, 2021	Mar. 24, 2021	Sep. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Additional disclosures
Compensation expense recognized				$ 1,837		$ 2,205	$ 5,722	$ 4,413
Period over which cost will be recognized							3 years		3 years
RSUs
Shares
Non-vested at beginning of period (in shares)					1,017,038		1,017,038
Granted (in shares)							260,231
Dividend equivalents earned (in shares)							33,388
Vested (in shares)							(128,824)
Forfeited (in shares)							(29,883)
Non-vested at end of period (in shares)				1,151,950			1,151,950		1,017,038
Weighted-Average Grant Date Fair Value
Non-vested at beginning of period (in dollars per share)					$ 23.87		$ 23.87
Granted (in dollars per share)							24.26
Dividend equivalents earned (in dollars per share)							23.07
Vested (in dollars per share)							22.88
Forfeited (in dollars per share)							24.88
Non-vested at end of period (in dollars per share)				$ 24.02			$ 24.02		$ 23.87
Additional disclosures
Compensation expense recognized				$ 1,316		2,029	$ 4,362	3,952
DSUs
Shares
Non-vested at beginning of period (in shares)					34,263		34,263
Granted (in shares)							35,664
Dividend equivalents earned (in shares)							3,716
Vested (in shares)							(39,813)
Non-vested at end of period (in shares)				33,830			33,830		34,263
Vested and Outstanding at end of period (in shares)				96,427			96,427
Weighted-Average Grant Date Fair Value
Non-vested at beginning of period (in dollars per share)					$ 17.18		$ 17.18
Granted (in dollars per share)							24.59
Dividend equivalents earned (in dollars per share)							23.15
Vested (in dollars per share)							18.08
Non-vested at end of period (in dollars per share)				$ 24.59			24.59		$ 17.18
Vested and Outstanding at end of period (in dollars per share)				$ 21.99			$ 21.99
Additional disclosures
Compensation expense recognized				$ 231		135	$ 741	420
PSUs
Shares
Non-vested at beginning of period (in shares)					15,724		15,724
Granted (in shares)					28,344		99,159
Forfeited (in shares)							(968)
Non-vested at end of period (in shares)				113,915			113,915		15,724
Weighted-Average Grant Date Fair Value
Non-vested at beginning of period (in dollars per share)					$ 16.25		$ 16.25
Granted (in dollars per share)							23.91
Forfeited (in dollars per share)							23.48
Non-vested at end of period (in dollars per share)				$ 22.86			$ 22.86		$ 16.25
Additional disclosures
Grant date fair value of the award					$ 700
Compensation expense recognized				$ 290		$ 41	$ 619	$ 41
PSUs \| Minimum
Additional disclosures
Vesting percentage (as a percent)					0.00%
PSUs \| Maximum
Shares
Granted (in shares)					39,682
Additional disclosures
Vesting percentage (as a percent)					140.00%
Market Based Performance Stock Units
Shares
Granted (in shares)					70,815
Additional disclosures
Grant date fair value of the award					$ 1,700
Market Based Performance Stock Units \| Minimum
Additional disclosures
Vesting percentage (as a percent)					0.00%
Market Based Performance Stock Units \| Maximum
Shares
Granted (in shares)					113,304
Additional disclosures
Vesting percentage (as a percent)					160.00%
2020 Equity Incentive Plan
Additional disclosures
Remaining shares available for issuance				1,038,975			1,038,975
2020 Equity Incentive Plan \| Members of management
Shares
Granted (in shares)	47,805
Additional disclosures
Grant date fair value of the award	$ 1,100
Vesting percentage (as a percent)	100.00%
2020 Equity Incentive Plan \| Members of management \| Minimum
Additional disclosures
Period over which cost will be recognized	3 years
2020 Equity Incentive Plan \| Members of management \| Maximum
Additional disclosures
Period over which cost will be recognized	5 years
2020 Equity Incentive Plan \| RSUs \| Members of management, including the Vice-Chairman of the Board
Shares
Granted (in shares)			212,426
Additional disclosures
Grant date fair value of the award			$ 5,200
Accelerated vesting provision, minimum requisite service period			1 year
Vesting percentage (as a percent)			100.00%
2020 Equity Incentive Plan \| RSUs \| Members of management, including the Vice-Chairman of the Board \| Minimum
Additional disclosures
Period over which cost will be recognized			1 year
2020 Equity Incentive Plan \| RSUs \| Members of management, including the Vice-Chairman of the Board \| Maximum
Additional disclosures
Period over which cost will be recognized			5 years
2020 Equity Incentive Plan \| DSUs \| Directors and Advisory Directors
Shares
Granted (in shares)			33,288
Additional disclosures
Grant date fair value of the award			$ 800
Period over which cost will be recognized			1 year
Vesting percentage (as a percent)			100.00%
2020 Equity Incentive Plan \| DSUs \| Directors
Shares
Granted (in shares)		2,376
Additional disclosures
Grant date fair value of the award		$ 100
Period over which cost will be recognized		1 year
Vesting percentage (as a percent)		100.00%

Stock-based Compensation - Reco

Stock-based Compensation - Recognized and Unamortized Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Share-based Compensation
Total stock-based compensation expense	$ 1,837	$ 2,205	$ 5,722	$ 4,413
Total unamortized stock-based compensation expense	13,634		$ 13,634		$ 10,884
Weighted average period over which expense is to be recognized			3 years		3 years
RSUs
Share-based Compensation
Total stock-based compensation expense	1,316	2,029	$ 4,362	3,952
Total unamortized stock-based compensation expense	11,650		11,650		$ 10,411
PSUs
Share-based Compensation
Total stock-based compensation expense	290	41	619	41
Total unamortized stock-based compensation expense	1,554		1,554		179
DSUs
Share-based Compensation
Total stock-based compensation expense	231	$ 135	741	$ 420
Total unamortized stock-based compensation expense	$ 430		$ 430		$ 294

Stock-based Compensation - Shar

Stock-based Compensation - Shares Remaining Available for Issuance (Details)	Sep. 30, 2021shares
2021 Employee Stock Purchase Plan
Share-based Compensation
Shares Remaining Available for Issuance Pursuant to the Plans	585,342

Outstanding Commitments and C_3

Outstanding Commitments and Contingent Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Credit Commitments and Contingencies
Total commitments	$ 1,875,144	$ 1,793,307
Commitments to extend credit
Credit Commitments and Contingencies
Total commitments	1,836,815	1,754,370
Standby letters of credit
Credit Commitments and Contingencies
Total commitments	$ 38,329	$ 38,937

Derivative Financial Instrume_3

Derivative Financial Instruments - Interest Rate Swaps Designated as Cash Flow Hedges (Details) - Cash Flow Hedging - Interest rate swap - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020	Sep. 17, 2020
Derivative [Line Items]
Notional amount	$ 50,000		$ 50,000		$ 70,000
Weighted average fixed pay rates	1.79%		1.79%		1.80%
Weighted average variable 3 month LIBOR receive rates	0.12%		0.12%		0.22%
Weighted average maturity in years			2 years 11 months 15 days		2 years 10 months 6 days
Unrealized gains (losses), net of tax			$ (1,237)		$ (2,184)
Interest expense on swap transactions	$ 300	$ 300	900	$ 500
Unrealized loss to be reclassified from OCI to interest expense during next twelve months			(200)
Swap matured						$ 20,000
Other liabilities
Derivative [Line Items]
Fair value recorded in other liabilities	$ 1,700		$ 1,700		$ 3,100

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		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Derivative [Line Items]
Cash pledged to secure obligations	$ 1,800		$ 1,800		$ 3,200
Cash Flow Hedging
Derivative [Line Items]
Gain (loss) recognized in OCI, net of tax	(5)	$ 14	336	$ (2,233)
(Gain) loss reclassified from OCI to interest expense, net of tax	206	192	611	42
Net change in unrealized gains (losses) on cash flow hedges	$ 201	$ 206	$ 947	$ (2,191)

Derivative Financial Instrume_5

Derivative Financial Instruments - Forward Sales Commitments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Interest rate lock commitments \| Other assets
Derivative Financial Instruments
Notional amount	$ 31,480		$ 31,480		$ 45,004
Fair values of derivative assets and liabilities recorded in consolidated balance sheets
Fair value recorded in other assets	538		538		1,201
Interest rate lock commitments \| Other liabilities
Derivative Financial Instruments
Notional amount	117		117		118
Fair values of derivative assets and liabilities recorded in consolidated balance sheets
Fair value recorded in other liabilities	1		1		1
Forward sales commitments \| Other assets
Derivative Financial Instruments
Notional amount	117		117		978
Fair values of derivative assets and liabilities recorded in consolidated balance sheets
Fair value recorded in other assets	1		1		32
Forward sales commitments \| Other liabilities
Derivative Financial Instruments
Notional amount	49,418		49,418		84,964
Fair values of derivative assets and liabilities recorded in consolidated balance sheets
Fair value recorded in other liabilities	1,439		1,439		2,662
Interest rate lock commitments and forward sales commitments \| Designated as hedging instrument
Gross gains and losses on derivative assets and liabilities recorded in Consolidated Statements of Income
Net gains (losses)	(901)	$ (2,469)	(2,114)	$ (7,232)
Interest rate lock commitments and forward sales commitments \| Other assets \| Designated as hedging instrument
Derivative Financial Instruments
Notional amount	31,597		31,597		45,982
Fair values of derivative assets and liabilities recorded in consolidated balance sheets
Fair value recorded in other assets	539		539		1,233
Interest rate lock commitments and forward sales commitments \| Other liabilities \| Designated as hedging instrument
Derivative Financial Instruments
Notional amount	49,535		49,535		85,082
Fair values of derivative assets and liabilities recorded in consolidated balance sheets
Fair value recorded in other liabilities	1,440		1,440		$ 2,663
Mortgage revenue \| Interest rate lock commitments \| Designated as hedging instrument
Gross gains and losses on derivative assets and liabilities recorded in Consolidated Statements of Income
Gross gains	537	1,405	1,502	8,467
Mortgage revenue \| Forward sales commitments \| Designated as hedging instrument
Gross gains and losses on derivative assets and liabilities recorded in Consolidated Statements of Income
Gross (losses)	$ (1,438)	$ (3,874)	$ (3,616)	$ (15,699)

Derivative Financial Instrume_6

Derivative Financial Instruments - Interest Rate Swaps Not Designated as Hedges (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Interest rate swap
Gains and losses on these derivative assets and liabilities recorded in non-interest expense in the unaudited Consolidated Statements of Income
Cash pledged to secure obligations	$ 26,300		$ 26,300		$ 36,000
Interest rate swap \| Not designated as hedging
Derivative Financial Instruments
Variable rate, commercial loans that are supported by the interest rate swap contracts	424,600		424,600		395,000
Notional Amount, Derivative Asset	424,567		424,567		394,954
Notional Amount, Derivative Liability	424,567		424,567		394,954
Fair values of derivative assets and liabilities recorded in consolidated balance sheets
Fair value recorded in other assets	21,330		21,330		32,685
Fair value recorded in other liabilities	21,330		21,330		32,685
Interest rate swaps - pay floating, receive fixed \| Not designated as hedging
Derivative Financial Instruments
Notional Amount, Derivative Asset	332,856		332,856		394,954
Notional Amount, Derivative Liability	91,711		91,711
Fair values of derivative assets and liabilities recorded in consolidated balance sheets
Fair value recorded in other assets	19,420		19,420		32,685
Fair value recorded in other liabilities	1,910		1,910
Interest rate swaps - pay fixed, receive floating \| Not designated as hedging
Derivative Financial Instruments
Notional Amount, Derivative Asset	91,711		91,711
Notional Amount, Derivative Liability	332,856		332,856		394,954
Fair values of derivative assets and liabilities recorded in consolidated balance sheets
Fair value recorded in other assets	1,910		1,910
Fair value recorded in other liabilities	19,420		19,420		$ 32,685
Non-interest expense \| Interest rate swap
Gains and losses on these derivative assets and liabilities recorded in non-interest expense in the unaudited Consolidated Statements of Income
Gain (loss) pay, floating receive fixed	(2,024)	$ (549)	(11,355)	$ 25,790
Gain (loss) pay fixed receive floating	$ 2,024	$ 549	$ 11,355	$ (25,790)

Fair Value Measurements - Gener

Fair Value Measurements - General Disclosures (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Financial assets and financial liabilities measured at fair value
Debt securities available for sale	$ 3,997,244	$ 2,261,187
Equity securities	13,012	5,530
Loans held for sale, at fair value	20,225	42,813
U.S. Treasury securities
Financial assets and financial liabilities measured at fair value
Debt securities available for sale	185,453	27,837
Obligations of U.S. government corporations and agencies
Financial assets and financial liabilities measured at fair value
Debt securities available for sale	38,997	69,519
Obligations of states and political subdivisions
Financial assets and financial liabilities measured at fair value
Debt securities available for sale	296,012	304,711
Commercial mortgage-backed securities
Financial assets and financial liabilities measured at fair value
Debt securities available for sale	603,297	418,616
Residential mortgage-backed securities
Financial assets and financial liabilities measured at fair value
Debt securities available for sale	2,102,608	1,368,315
Asset-backed securities
Financial assets and financial liabilities measured at fair value
Debt securities available for sale	468,807
Corporate debt securities
Financial assets and financial liabilities measured at fair value
Debt securities available for sale	302,070	72,189
Recurring basis
Financial assets and financial liabilities measured at fair value
Equity securities	13,012	5,530
Loans held for sale, at fair value	20,225	42,813
Recurring basis \| Derivative assets
Financial assets and financial liabilities measured at fair value
Derivative asset	21,869	33,918
Recurring basis \| Derivative liabilities
Financial assets and financial liabilities measured at fair value
Derivative liability	24,501	38,403
Recurring basis \| U.S. Treasury securities
Financial assets and financial liabilities measured at fair value
Debt securities available for sale	185,453	27,837
Recurring basis \| Obligations of U.S. government corporations and agencies
Financial assets and financial liabilities measured at fair value
Debt securities available for sale	38,997	69,519
Recurring basis \| Obligations of states and political subdivisions
Financial assets and financial liabilities measured at fair value
Debt securities available for sale	296,012	304,711
Recurring basis \| Commercial mortgage-backed securities
Financial assets and financial liabilities measured at fair value
Debt securities available for sale	603,297	418,616
Recurring basis \| Residential mortgage-backed securities
Financial assets and financial liabilities measured at fair value
Debt securities available for sale	2,102,608	1,368,315
Recurring basis \| Asset-backed securities
Financial assets and financial liabilities measured at fair value
Debt securities available for sale	468,807
Recurring basis \| Corporate debt securities
Financial assets and financial liabilities measured at fair value
Debt securities available for sale	302,070	72,189
Recurring basis \| Level 2
Financial assets and financial liabilities measured at fair value
Equity securities	13,012	5,530
Loans held for sale, at fair value	20,225	42,813
Recurring basis \| Level 2 \| Derivative assets
Financial assets and financial liabilities measured at fair value
Derivative asset	21,869	33,918
Recurring basis \| Level 2 \| Derivative liabilities
Financial assets and financial liabilities measured at fair value
Derivative liability	24,501	38,403
Recurring basis \| Level 2 \| U.S. Treasury securities
Financial assets and financial liabilities measured at fair value
Debt securities available for sale	185,453	27,837
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	38,997	69,519
Recurring basis \| Level 2 \| Obligations of states and political subdivisions
Financial assets and financial liabilities measured at fair value
Debt securities available for sale	296,012	304,711
Recurring basis \| Level 2 \| Commercial mortgage-backed securities
Financial assets and financial liabilities measured at fair value
Debt securities available for sale	603,297	418,616
Recurring basis \| Level 2 \| Residential mortgage-backed securities
Financial assets and financial liabilities measured at fair value
Debt securities available for sale	2,102,608	1,368,315
Recurring basis \| Level 2 \| Asset-backed securities
Financial assets and financial liabilities measured at fair value
Debt securities available for sale	468,807
Recurring basis \| Level 2 \| Corporate debt securities
Financial assets and financial liabilities measured at fair value
Debt securities available for sale	$ 302,070	$ 72,189

Fair Value Measurements - Addit

Fair Value Measurements - Additional Quantitative Information (Details) $ in Thousands	Sep. 30, 2021USD ($)	Dec. 31, 2020USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans evaluated individually	$ 20,366	$ 20,246
Non-recurring basis
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans evaluated individually	3,753	2,771
OREO	51	106
Bank property held for sale	6,150	10,676
Non-recurring basis \| Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans evaluated individually	3,753	2,771
OREO	51	106
Bank property held for sale	6,150	10,676
Non-recurring basis \| Level 3 \| Appraisal of collateral \| Loans evaluated individually
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans evaluated individually	3,753	2,771
Non-recurring basis \| Level 3 \| Appraisal of collateral \| OREO
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
OREO	51	106
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	$ 6,150	$ 10,676
Appraisal adjustments \| Non-recurring basis \| Level 3 \| Appraisal of collateral \| Loans evaluated individually \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans evaluated individually (percent)	(18)	(30)
Appraisal adjustments \| Non-recurring basis \| Level 3 \| Appraisal of collateral \| Loans evaluated individually \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans evaluated individually (percent)	(100)	(100)
Appraisal adjustments \| 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 (percent)	(54.4)	(37)
Appraisal adjustments \| Non-recurring basis \| Level 3 \| Appraisal of collateral \| OREO \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
OREO (percent)	(33)	(25)
Appraisal adjustments \| Non-recurring basis \| Level 3 \| Appraisal of collateral \| OREO \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
OREO (percent)	(100)	(100)
Appraisal adjustments \| Non-recurring basis \| Level 3 \| Appraisal of collateral \| OREO \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
OREO (percent)	(67.9)	(54.5)
Appraisal adjustments \| Non-recurring basis \| 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)
Appraisal adjustments \| Non-recurring basis \| 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)	(64.9)
Appraisal adjustments \| Non-recurring basis \| 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)	(41.2)	(42.8)

Fair Value Measurements - Segre

Fair Value Measurements - Segregated by Level of Valuation Inputs (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Financial assets:
Portfolio loans, net	$ 7,057,833	$ 6,713,129
Financial liabilities:
Short-term borrowings	17,673	4,658
Junior subordinated debt owed to unconsolidated trusts	71,593	71,468
Level 1 \| Carrying Amount
Financial assets:
Cash and cash equivalents	883,845	688,537
Level 1 \| Fair Value
Financial assets:
Cash and cash equivalents	883,845	688,537
Level 2 \| Carrying Amount
Financial assets:
Accrued interest receivable	33,545	33,240
Financial liabilities:
Time deposits	1,026,935	1,119,348
Securities sold under agreements to repurchase	241,242	175,614
Short-term borrowings	17,673	4,658
Long-term debt	49,233	4,757
Junior subordinated debt owed to unconsolidated trusts	71,593	71,468
Accrued interest payable	5,435	3,401
Level 2 \| Fair Value
Financial assets:
Accrued interest receivable	33,545	33,240
Financial liabilities:
Time deposits	1,029,879	1,132,107
Securities sold under agreements to repurchase	241,242	175,614
Short-term borrowings	17,671	4,661
Long-term debt	49,323	5,014
Junior subordinated debt owed to unconsolidated trusts	62,840	59,943
Accrued interest payable	5,435	3,401
Level 3 \| Carrying Amount
Financial assets:
Portfolio loans, net	7,057,833	6,713,129
Mortgage servicing rights	9,247	10,912
Other servicing rights	1,680	1,434
Level 3 \| Fair Value
Financial assets:
Portfolio loans, net	7,108,483	6,755,425
Mortgage servicing rights	11,011	11,107
Other servicing rights	2,127	1,966
Level 3 \| Senior notes \| Carrying Amount
Financial liabilities:
Long-term debt	39,910	39,809
Level 3 \| Senior notes \| Fair Value
Financial liabilities:
Long-term debt	40,700	40,104
Level 3 \| Subordinated debt \| Carrying Amount
Financial liabilities:
Long-term debt	182,637	182,226
Level 3 \| Subordinated debt \| Fair Value
Financial liabilities:
Long-term debt	$ 196,350	$ 187,697

Earnings Per Common Share (Deta

Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Net income per share calculations for basic and diluted methods
Net income	$ 25,941	$ 30,829	$ 93,523	$ 71,999
Shares:
Weighted average common shares outstanding	56,227,816	54,585,998	55,256,348	54,579,088
Dilutive effect of outstanding options, warrants, and restricted stock units as determined by the application of the treasury stock method (in shares)	597,148	151,922	613,969	217,266
Weighted average common shares outstanding, as adjusted for diluted earnings per share calculation	56,832,518	54,737,920	55,872,835	54,796,354
Basic earnings per common share (in dollars per share)	$ 0.46	$ 0.56	$ 1.69	$ 1.32
Diluted earnings per common share (in dollars per share)	$ 0.46	$ 0.56	$ 1.67	$ 1.31
Total anti-dilutive common stock equivalents	133,376	300,176	192,578	300,176
Options
Shares:
Total anti-dilutive common stock equivalents		39,085		39,085
RSUs and DSUs
Shares:
Total anti-dilutive common stock equivalents	47,805	261,091	97,067	261,091
PSUs
Shares:
Total anti-dilutive common stock equivalents	85,571		95,511
Employee Stock Purchase Plan Shares
Shares:
Dilutive effect of outstanding options, warrants, and restricted stock units as determined by the application of the treasury stock method (in shares)	7,554		2,518

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Changes in accumulated other comprehensive income (loss) by component, net of tax
Beginning balance	$ 1,345,691	$ 1,236,084	$ 1,270,069	$ 1,220,434
Unrealized gains (losses) on debt securities available for sale:
Unrealized holding gains (losses) on debt securities available for sale, Tax Effect	(4,902)	(682)	(14,195)	9,577
Unrealized holding gains (losses) on debt securities available for sale, Net of Tax	(12,296)	(1,710)	(35,606)	23,974
Amounts reclassified from accumulated other comprehensive income, Tax Effect	(1)	3	7	492
Amounts reclassified from accumulated other comprehensive income, Net of Tax	4	(8)	(16)	(1,218)
Unrealized gains (losses) on cash flow hedges:
Unrealized holding gains (losses) on cash flow hedges, Tax Effect	(2)	6	134	(890)
Unrealized holding gains (losses) on cash flow hedges, Net of Tax	(5)	14	336	(2,233)
Amounts reclassified from accumulated other comprehensive income, Tax Effect	82	76	243	16
Amounts reclassified from accumulated other comprehensive income, Net of Tax	206	192	611	42
Ending balance	1,333,076	1,255,705	1,333,076	1,255,705
Accumulated other comprehensive income (loss)
Changes in accumulated other comprehensive income (loss) by component, net of tax
Beginning balance	10,725	37,037	33,309	14,960
Unrealized gains (losses) on cash flow hedges:
Accumulated other comprehensive income (loss) ending balance period, Before Tax	(1,911)	49,688	(1,911)	49,688
Accumulated other comprehensive income (loss) ending balance period, Tax Effect	545	(14,163)	545	(14,163)
Ending balance	(1,366)	35,525	(1,366)	35,525
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	17,013	55,436	49,644	21,192
Accumulated other comprehensive income (loss) beginning balance period, Tax Effect	(4,850)	(15,802)	(14,151)	(6,032)
Beginning balance	12,163	39,634	35,493	15,160
Unrealized gains (losses) on debt securities available for sale:
Unrealized holding gains (losses) on debt securities available for sale, Before Tax	(17,198)	(2,392)	(49,801)	33,551
Unrealized holding gains (losses) on debt securities available for sale, Tax Effect	4,902	682	14,195	(9,577)
Unrealized holding gains (losses) on debt securities available for sale, Net of Tax	(12,296)	(1,710)	(35,606)	23,974
Amounts reclassified from accumulated other comprehensive income, Before Tax	5	(11)	(23)	(1,710)
Amounts reclassified from accumulated other comprehensive income, Tax Effect	(1)	3	7	492
Amounts reclassified from accumulated other comprehensive income, Net of Tax	4	(8)	(16)	(1,218)
Unrealized gains (losses) on cash flow hedges:
Accumulated other comprehensive income (loss) ending balance period, Before Tax	(180)	53,033	(180)	53,033
Accumulated other comprehensive income (loss) ending balance period, Tax Effect	51	(15,117)	51	(15,117)
Ending balance	(129)	37,916	(129)	37,916
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	(2,012)	(3,633)	(3,055)	(280)
Accumulated other comprehensive income (loss) beginning balance period, Tax Effect	574	1,036	871	80
Beginning balance	(1,438)	(2,597)	(2,184)	(200)
Unrealized gains (losses) on cash flow hedges:
Unrealized holding gains (losses) on cash flow hedges, Before Tax	(7)	20	470	(3,123)
Unrealized holding gains (losses) on cash flow hedges, Tax Effect	2	(6)	(134)	890
Unrealized holding gains (losses) on cash flow hedges, Net of Tax	(5)	14	336	(2,233)
Amounts reclassified from accumulated other comprehensive income, Before Tax	288	268	854	58
Amounts reclassified from accumulated other comprehensive income, Tax Effect	(82)	(76)	(243)	(16)
Amounts reclassified from accumulated other comprehensive income, Net of Tax	206	192	611	42
Accumulated other comprehensive income (loss) ending balance period, Before Tax	(1,731)	(3,345)	(1,731)	(3,345)
Accumulated other comprehensive income (loss) ending balance period, Tax Effect	494	954	494	954
Ending balance	$ (1,237)	$ (2,391)	$ (1,237)	$ (2,391)

Operating Segments and Relate_3

Operating Segments and Related Information (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)segment	Sep. 30, 2020USD ($)	Dec. 31, 2020USD ($)
Operating Segments and Related Information
Number of reportable segments \| segment			3
Number of operating segments \| segment			3
Goodwill	$ 317,766		$ 317,766		$ 311,536
Total Assets	12,899,330		12,899,330		10,544,047
Net interest income	70,755	$ 69,753	200,190	$ 209,999
Non-interest income:	33,259	32,285	97,715	87,766
Non-interest expense:	73,487	56,542	190,611	170,124
Income before income taxes	32,396	39,947	117,659	91,985
Net income:	25,941	30,829	93,523	71,999
Operating segments \| Banking
Operating Segments and Related Information
Goodwill	294,666		294,666		288,436
Total Assets	12,788,398		12,788,398		10,462,673
Net interest income	74,672	73,330	211,377	218,221
Non-interest income:	14,976	18,523	42,798	45,717
Non-interest expense:	59,520	44,863	150,032	135,037
Income before income taxes	31,996	41,441	114,507	93,245
Net income:	25,123	31,744	89,889	72,653
Operating segments \| Remittance Processing
Operating Segments and Related Information
Goodwill	8,992		8,992		8,992
Total Assets	47,528		47,528		46,553
Net interest income	19	21	60	59
Non-interest income:	5,030	4,287	14,700	12,318
Non-interest expense:	4,519	3,523	13,086	9,669
Income before income taxes	530	785	1,674	2,708
Net income:	384	578	1,214	1,966
Operating segments \| Wealth Management
Operating Segments and Related Information
Goodwill	14,108		14,108		14,108
Total Assets	60,496		60,496		46,504
Non-interest income:	13,746	10,662	39,333	32,681
Non-interest expense:	7,679	6,497	20,961	19,725
Income before income taxes	6,068	4,165	18,373	12,956
Net income:	4,719	3,166	14,285	9,847
Other
Operating Segments and Related Information
Total Assets	2,908		2,908		$ (11,683)
Net interest income	(3,936)	(3,598)	(11,247)	(8,281)
Non-interest income:	(493)	(1,187)	884	(2,950)
Non-interest expense:	1,769	1,659	6,532	5,693
Income before income taxes	(6,198)	(6,444)	(16,895)	(16,924)
Net income:	$ (4,285)	$ (4,659)	$ (11,865)	$ (12,467)

Leases - Lease-related balances

Leases - Lease-related balances (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Leases
Right of use assets	$ 11,068	$ 7,714
Lease liabilities	$ 11,120	$ 7,757
Weighted average lease term (in years)	6 years 7 months 6 days	5 years 11 months 4 days
Weighted average discount rate (in percent)	2.15%	2.82%
Option to extend	true

Leases - Lease Cost and Other L

Leases - Lease Cost and Other Lease Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Lease Costs
Operating lease costs	$ 656	$ 622	$ 1,828	$ 1,877
Variable lease costs	94	99	394	401
Short-term lease costs	9	15	43	45
Total lease cost	759	736	2,265	2,323
Cash paid for amounts included in the measurement of lease liabilities
Operating lease cash flows - Fixed payments	620	616	1,756	1,839
Operating lease cash flows - Liability reduction	569	546	1,610	1,610
Right of use assets obtained during the period in exchange for operating lease liabilities	3,408		5,018	128
Rent expense under operating leases, included in net occupancy and equipment expense	$ 759	$ 736	2,265	$ 2,323
CAC
Cash paid for amounts included in the measurement of lease liabilities
Right of use assets obtained during the period in exchange for operating lease liabilities			$ 371

Leases - Future Rent Commitment

Leases - Future Rent Commitments (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Projected minimum rental payments under the terms of leases
Remainder of 2021	$ 621
2022	2,288
2023	2,071
2024	1,645
2025	1,416
Thereafter	3,921
Amounts representing interest	(842)
Present value of net future minimum lease payments	$ 11,120	$ 7,757