BORROWINGS (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Schedule of Distribution of Securities Sold Under Agreements to Repurchase and Short-term Borrowings and Weighted Average Interest Rates

Securities sold under agreements to repurchase were as follows (dollars in thousands):

	As of December 31,
	2023			2022
Securities sold under agreements to repurchase	$	187,396		$	229,806
Weighted average rate for securities sold under agreements to repurchase	3.26		%	1.91		%

Schedule of Short-Term Debt

Busey’s short-term borrowings include loans maturing within one year of the loan origination date, as well as the current portion of long-term debt that is due within 12 months. Short-term borrowings are summarized as follows (dollars in thousands):

	As of December 31,
	2023		2022
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	$	—	$	339,054
Term Loan, current portion due within 12 months	12,000		12,000
Total short-term debt	$	12,000	$	351,054

Schedule of Long-Term Debt

Busey’s long-term debt consists of loans maturing more than one year from the loan origination date, excluding the current portion that is due within 12 months. Long-term debt is summarized as follows (dollars in thousands):

	As of December 31,
	2023		2022
Long-term debt
Term Loan	$	18,000	$	30,000
Total long-term debt	$	18,000	$	30,000

Schedule of Unamortized Debt Issuance Cost

	As of December 31,
	2023		2022
Unamortized debt issuance costs
Subordinated notes issued in 2020	$	735	$	1,220
Subordinated notes issued in 2022	1,383		1,742
Total unamortized debt issuance costs	$	2,118	$	2,962