OPERATING SEGMENTS AND RELATED INFORMATION (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of Information Relating to Operating Segments

Goodwill and total assets are detailed below by operating segment. The “other” category included in the tables below consists of the parent company, First Busey Risk Management until its dissolution on December 18, 2023, and the elimination of intercompany transactions (dollars in thousands):


	As of December 31, 2024
	Banking		Wealth Management		FirsTech		Other		Total
Goodwill	$	310,595	$	14,108	$	8,992	$	—	$	333,695
Total assets	11,856,651		126,180		57,737		6,154		12,046,722


	As of December 31, 2023
	Banking		Wealth Management		FirsTech		Other		Total
Goodwill	$	294,773	$	14,108	$	8,992	$	—	$	317,873
Total assets	12,125,298		103,147		51,600		3,370		12,283,415

Financial results by operating segment, including significant expense categories provided to the chief operating decision maker, are detailed below (dollars in thousands):


	Year Ended December 31, 2024
	Banking		Wealth Management		FirsTech		Other		Total
Interest income	$	523,648	$	—	$	—	$	33	$	523,681
Intersegment interest income	324		—		48		(372)		—
Interest expense	183,126		—		—		17,944		201,070
Intersegment interest expense	2,664		—		—		(2,664)		—
Net interest income	338,182		—		48		(15,619)		322,611
Provision for credit losses	8,590		—		—		—		8,590
Net interest income after provision for credit losses	329,592		—		48		(15,619)		314,021

Noninterest income
Wealth management fees	—		63,630		—		—		63,630
Fees for customer services	30,933		—		—		—		30,933
Payment technology solutions	—		—		21,983		—		21,983
All other noninterest income	20,871		1,323		—		942		23,136
Intersegment noninterest income	1,402		—		1,071		(2,473)		—
Noninterest income	53,206		64,953		23,054		(1,531)		139,682

Revenue	391,388		64,953		23,102		(17,150)		462,293

Noninterest expense
Salaries, wages, and employee benefits	117,730		26,631		10,130		21,128		175,619
Data processing	20,631		2,263		3,692		538		27,124
Amortization of intangible assets	8,916		1,141		—		—		10,057
Interchange expense	—		—		6,001		—		6,001
All other noninterest expense	66,433		2,836		2,736		9,593		81,598
Intersegment noninterest expense	11,457		3,096		1,443		(15,996)		—
Noninterest expense	225,167		35,967		24,002		15,263		300,399

Income (loss) before income taxes	157,631		28,986		(900)		(32,413)		153,304
Income taxes	40,365		6,956		(230)		(7,478)		39,613
Net income	$	117,266	$	22,030	$	(670)	$	(24,935)	$	113,691


	Year Ended December 31, 2023
	Banking		Wealth Management		FirsTech		Other		Total
Interest income	$	480,438	$	—	$	—	$	105	$	480,543
Intersegment interest income	—		—		54		(54)		—
Interest expense	140,917		—		—		19,005		159,922
Intersegment interest expense	3,006		—		—		(3,006)		—
Net interest income	336,515		—		54		(15,948)		320,621
Provision for credit losses	2,399		—		—		—		2,399
Net interest income after provision for credit losses	334,116		—		54		(15,948)		318,222

Noninterest income
Wealth management fees	—		57,309		—		—		57,309
Fees for customer services	29,044		—		—		—		29,044
Payment technology solutions	—		—		21,192		—		21,192
All other noninterest income	15,337		514		—		(2,182)		13,669
Intersegment noninterest income	1,149		—		1,554		(2,703)		—
Noninterest income	45,530		57,823		22,746		(4,885)		121,214

Revenue	382,045		57,823		22,800		(20,833)		441,835

Noninterest expense
Salaries, wages, and employee benefits	111,834		24,474		8,522		17,767		162,597
Data processing	18,217		1,937		3,013		541		23,708
Amortization of intangible assets	8,963		1,469		—		—		10,432
Interchange expense	—		—		6,864		—		6,864
All other noninterest expense	71,259		2,503		2,154		6,015		81,931
Intersegment noninterest expense	13,178		2,698		1,100		(16,976)		—
Noninterest expense	223,451		33,081		21,653		7,347		285,532

Income (loss) before income taxes	156,195		24,742		1,147		(28,180)		153,904
Income taxes	32,342		5,938		317		(7,258)		31,339
Net income	$	123,853	$	18,804	$	830	$	(20,922)	$	122,565


	Year Ended December 31, 2022
	Banking		Wealth Management		FirsTech		Other		Total
Interest income	$	360,126	$	—	$	—	$	50	$	360,176
Intersegment interest income	—		—		65		(65)		—
Interest expense	18,694				—		17,854		36,548
Intersegment interest expense	1,159		—		—		(1,159)		—
Net interest income	340,273		—		65		(16,710)		323,628
Provision for credit losses	4,623		—		—		—		4,623
Net interest income after provision for credit losses	335,650		—		65		(16,710)		319,005

Noninterest income
Wealth management fees	—		55,378		—		—		55,378
Fees for customer services	33,111		—		—		—		33,111
Payment technology solutions	—		—		20,067		—		20,067
All other noninterest income	19,890		16		(3)		(1,846)		18,057
Intersegment noninterest income	962		—		1,656		(2,618)		—
Noninterest income	53,963		55,394		21,720		(4,464)		126,613

Revenue	394,236		55,394		21,785		(21,174)		450,241

Noninterest expense
Salaries, wages, and employee benefits	107,159		22,993		7,899		20,965		159,016
Data processing	16,420		1,962		2,721		545		21,648
Amortization of intangible assets	9,831		1,797		—		—		11,628
Interchange expense	—		—		6,298		—		6,298
All other noninterest expense	73,544		2,593		2,415		6,739		85,291
Intersegment noninterest expense	15,042		2,200		1,286		(18,528)		—
Noninterest expense	221,996		31,545		20,619		9,721		283,881

Income (loss) before income taxes	167,617		23,849		1,166		(30,895)		161,737
Income taxes	36,021		5,306		319		(8,220)		33,426
Net income	$	131,596	$	18,543	$	847	$	(22,675)	$	128,311