GOODWILL AND OTHER INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS

NOTE 8. GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill

Busey’s goodwill is associated with its three operating segments, Banking, Wealth Management, and FirsTech. Goodwill is tested annually for impairment, and as part of this analysis, the reporting unit's carrying value is compared to its estimated fair value. Based on the impairment testing performed at December 31, 2025, there were no indicators of potential impairment.

In connection with the acquisition of CrossFirst, Busey recorded goodwill totaling $49.5 million and other intangible assets of $81.8 million during the year ended December 31, 2025, each in the Banking segment. In connection with the acquisition of M&M, Busey recorded goodwill totaling $0.1 million during the year ended December 31, 2025, and recorded goodwill totaling $15.8 million and other intangible assets of $6.3 million during the year ended December 31, 2024, each in the banking segment.

The carrying amount of goodwill by operating segment is presented in the table below:

	As of December 31,
(dollars in thousands)	2025		2024
Goodwill
Banking	$	360,180	$	310,595
Wealth Management	14,108		14,108
FirsTech	8,992		8,992
Total goodwill	$	383,280	$	333,695

Indefinite-lived intangible assets, such as goodwill, are not amortized. Goodwill is Busey's only indefinite-lived intangible asset.

Intangible Assets

Core deposit and customer relationship intangible assets are amortized over the estimated period during which Busey expects to benefit from the assets. The following table present Busey’s intangible asset balances and the related amounts of accumulated amortization:

	As of December 31, 2025
(dollars in thousands)	Core deposit intangible		Customer relationship intangible		Total
Intangible Assets
Intangible assets, gross	$	187,194	$	33,138	$	220,332
Accumulated amortization	93,558		29,325		122,883
Intangible assets, net	$	93,636	$	3,813	$	97,449

	As of December 31, 2024
(dollars in thousands)	Core deposit intangible		Customer relationship intangible		Total
Intangible Assets
Intangible assets, gross	$	105,411	$	33,138	$	138,549
Accumulated amortization	78,831		27,438		106,269
Intangible assets, net	$	26,580	$	5,700	$	32,280

Amortization expense related to intangible assets, as reflected on Busey's Consolidated Statements of Income, is presented in the table below:

	Years Ended December 31,
(dollars in thousands)	2025		2024		2023
Amortization Expense
Core deposit intangible	$	14,727	$	7,739	$	7,616
Customer relationship intangible	1,887		2,318		2,816
Amortization of intangible assets	$	16,614	$	10,057	$	10,432

Future expense for the amortization of intangible assets, as estimated, is summarized in the table below:

	As of December 31, 2025
(dollars in thousands)	Core deposit intangible		Customer relationship intangible		Total
Estimated amortization expense
2026	$	15,277	$	1,479	$	16,756
2027	14,251		1,091		15,342
2028	13,184		703		13,887
2029	10,266		360		10,626
2030	9,160		162		9,322
Thereafter	31,498		18		31,516
Total estimated amortization expense	$	93,636	$	3,813	$	97,449

For additional information about Busey’s accounting policies related to goodwill and other intangible assets, see “Goodwill and Other Intangible Assets” in “Note 1. Significant Accounting Policies.”