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DEBT SECURITIES (Tables)
 3 Months Ended
Mar. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Schedule of Amortized Cost, Unrealized or Unrecognized Gains and Losses and Fair Values of Securities Classified Available for Sale and Held to Maturity The tables below provide the amortized cost, unrealized or unrecognized gains and losses, and fair values of debt securities summarized by major category:
As of March 31, 2025
(dollars in thousands)
Amortized
Cost
Unrealized
Fair
Value
Gross Gains
Gross Losses
Debt securities available for sale
Obligations of U.S. government corporations and agencies
$219 $— $(2)$217 
Obligations of states and political subdivisions1
262,377 90 (18,603)243,864 
Asset-backed securities1
342,584 92 — 342,676 
Commercial mortgage-backed securities
93,488 98 (12,762)80,824 
Residential mortgage-backed securities1
1,651,857 2,285 (158,626)1,495,516 
Corporate debt securities1
113,716 365 (3,304)110,777 
Total debt securities available for sale$2,464,241 $2,930 $(193,297)$2,273,874 
Amortized
Cost
Unrecognized
Fair
Value
Gross Gains
Gross Losses
Debt securities held to maturity
Commercial mortgage-backed securities
$411,680 $— $(71,458)$340,222 
Residential mortgage-backed securities
403,722 — (65,474)338,248 
Total debt securities held to maturity$815,402 $— $(136,932)$678,470 
___________________________________________
1.Includes securities marked at par, with no gain or loss to report.
As of December 31, 2024
(dollars in thousands)
Amortized
Cost
Unrealized
Fair
Value
Gross Gains
Gross Losses
Debt securities available for sale
Obligations of U.S. government corporations and agencies
$1,408 $— $(8)$1,400 
Obligations of states and political subdivisions1
156,534 31 (16,736)139,829 
Asset-backed securities1
336,379 181 (3)336,557 
Commercial mortgage-backed securities
107,305 — (15,131)92,174 
Residential mortgage-backed securities
1,279,090 19 (191,899)1,087,210 
Corporate debt securities
159,236 363 (6,548)153,051 
Total debt securities available for sale
$2,039,952 $594 $(230,325)$1,810,221 
Amortized
Cost
Unrecognized
Fair
Value
Gross Gains
Gross Losses
Debt securities held to maturity
Commercial mortgage-backed securities
$415,530 $— $(77,242)$338,288 
Residential mortgage-backed securities
411,100 — (74,335)336,765 
Total debt securities held to maturity
$826,630 $— $(151,577)$675,053 
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1.Includes securities marked at par, with no gain or loss to report.
Schedule of Maturities Of Debt Securities All mortgage-backed securities were issued by U.S. government corporations and agencies:
As of March 31, 2025
(dollars in thousands)Amortized
Cost		Fair
Value
Debt securities available for sale
Due in one year or less$68,340 $68,099 
Due after one year through five years67,386 64,779 
Due after five years through ten years452,231 434,831 
Due after ten years1,876,284 1,706,165 
Debt securities available for sale$2,464,241 $2,273,874 
 
Debt securities held to maturity
Due in one year or less$17,862 $17,665 
Due after one year through five years60,943 58,316 
Due after five years through ten years14,700 12,929 
Due after ten years721,897 589,560 
Debt securities held to maturity$815,402 $678,470 
Schedule of Gains and Losses on Debt Securities Available for Sale
Realized gains and losses related to sales and calls of debt securities available for sale are summarized as follows:
Three Months Ended March 31,
(dollars in thousands)20252024
Realized gains and losses on debt securities
Gross gains on debt securities
$8 $1 
Gross (losses) on debt securities1
(15,545)(6,803)
Realized net gains (losses) on debt securities$(15,537)$(6,802)
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1.During the first quarter of 2025, Busey sold available for sale debt securities with a book value of approximately $205.6 million for a pre-tax loss of $15.5 million, as part of a balance sheet repositioning strategy. During the first quarter of 2024, Busey sold available for sale debt securities with a book value of approximately $108.2 million for a pre-tax loss of $6.8 million, as part of a balance sheet repositioning strategy.
Schedule of Debt Securities in an Unrealized or Unrecognized Loss Position
The following information pertains to debt securities with gross unrealized or unrecognized losses, aggregated by investment category and the length of time that individual securities have been in a continuous loss position:
As of March 31, 2025
Less than 12 months12 months or moreTotal
(dollars in thousands)Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses
Debt securities available for sale
Obligations of U.S. government corporations and agencies1
$66 $— $151 $(2)$217 $(2)
Obligations of states and political subdivisions130,434 (5,962)96,467 (12,641)226,901 (18,603)
Commercial mortgage-backed securities1,495 (2)74,450 (12,760)75,945 (12,762)
Residential mortgage-backed securities247,106 (689)810,718 (157,937)1,057,824 (158,626)
Corporate debt securities916 (21)96,685 (3,283)97,601 (3,304)
Debt securities available for sale with gross unrealized losses$380,017 $(6,674)$1,078,471 $(186,623)$1,458,488 $(193,297)
12 months or moreTotal
Fair
Value		Unrecognized
Losses		Fair
Value		Unrecognized
Losses
Debt securities held to maturity
Commercial mortgage-backed securities$340,222 $(71,458)$340,222 $(71,458)
Residential mortgage-backed securities338,248 (65,474)338,248 (65,474)
Debt securities held to maturity with gross unrecognized losses$678,470 $(136,932)$678,470 $(136,932)
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1.Gross losses for securities in a loss position for less than 12 months were insignificant, rounding to zero thousand.
As of December 31, 2024
Less than 12 months12 months or moreTotal
(dollars in thousands)Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses
Debt securities available for sale
Obligations of U.S. government corporations and agencies
$— $— $1,328 $(8)$1,328 $(8)
Obligations of states and political subdivisions
11,234 (209)119,723 (16,527)130,957 (16,736)
Asset-backed securities
14,997 (3)— — 14,997 (3)
Commercial mortgage-backed securities
6,238 (42)85,936 (15,089)92,174 (15,131)
Residential mortgage-backed securities
152,081 (640)930,642 (191,259)1,082,723 (191,899)
Corporate debt securities
598 (1)143,966 (6,547)144,564 (6,548)
Debt securities available for sale with gross unrealized losses$185,148 $(895)$1,281,595 $(229,430)$1,466,743 $(230,325)
12 months or moreTotal
Fair
Value		Unrecognized
Losses		Fair
Value		Unrecognized
Losses
Debt securities held to maturity
Commercial mortgage-backed securities
$338,288 $(77,242)$338,288 $(77,242)
Residential mortgage-backed securities
336,765 (74,335)336,765 (74,335)
Debt securities held to maturity with gross unrecognized losses$675,053 $(151,577)$675,053 $(151,577)
Additional information about debt securities in an unrealized or unrecognized loss position is presented in the tables below:
As of March 31, 2025
(dollars in thousands)Available for Sale Held to Maturity Total
Debt securities with gross unrealized or unrecognized losses, fair value$1,458,488 $678,470 $2,136,958 
Gross unrealized or unrecognized losses on debt securities193,297 136,932 330,229 
Ratio of gross unrealized or unrecognized losses to debt securities with gross unrealized or unrecognized losses13.3 %20.2 %15.5 %
 
Count of debt securities679 55 734 
Count of debt securities in an unrealized or unrecognized loss position536 55 591 
As of December 31, 2024
(dollars in thousands)Available for Sale Held to MaturityTotal
Debt securities with gross unrealized or unrecognized losses, fair value$1,466,743 $675,053 $2,141,796 
Gross unrealized or unrecognized losses on debt securities230,325 151,577 381,902 
Ratio of gross unrealized or unrecognized losses to debt securities with gross unrealized or unrecognized losses15.7 %22.5 %17.8 %
 
Count of debt securities677 55 732 
Count of debt securities in an unrealized or unrecognized loss position586 55 641