TAX CREDIT AND OTHER INVESTMENTS IN UNCONSOLIDATED ENTITIES

12 Months Ended

Dec. 31, 2024

Investments, All Other Investments [Abstract]

TAX CREDIT AND OTHER INVESTMENTS IN UNCONSOLIDATED ENTITIES

NOTE 14. TAX CREDIT AND OTHER INVESTMENTS IN UNCONSOLIDATED ENTITIES

Busey’s investments in unconsolidated entities and related unfunded investment obligations are reflected in other assets and other liabilities on the Consolidated Balance Sheets, and are summarized in the table below for the periods indicated (dollars in thousands):

		As of December 31,
	Location	2024		2023
Investments in unconsolidated entities
Funded investments	Other assets	$	70,796	$	68,516
Unfunded investments	Other assets	61,210		58,552
Investments in unconsolidated entities		$	132,006	$	127,068
Unfunded investment obligations	Other liabilities	$	61,210	$	58,552

Income tax credits and other benefits, along with investment amortization, are presented in the table below (dollars in thousands). Beginning in 2024, income tax credits and other tax benefits, net of investment amortization, were included as a component of Busey’s estimated annual effective tax rate used for the calculation of income taxes presented on the Consolidated Statements of Income.

	Year Ended December 31, 2024
Income tax credits and other tax benefits	$	20,734
Amortization of investments in tax-advantaged projects	18,494