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OPERATING SEGMENTS AND RELATED INFORMATION
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
OPERATING SEGMENTS AND RELATED INFORMATION
NOTE 23. OPERATING SEGMENTS AND RELATED INFORMATION
Busey’s reportable segments are determined by its chief executive officer, who is the designated chief operating decision maker. Busey is organized into three reportable operating segments: Banking, Wealth Management, and FirsTech. These operating segments are strategic business units that are separately managed, as they offer different products and services and have different marketing strategies.
To evaluate segment performance and make informed decisions regarding the allocation of capital and personnel to the segments, the chief operating decision maker reviews each segment’s revenues, consisting of net interest income plus noninterest income, and net income, against budgeted revenues and net income on a monthly basis. This process enables Busey to (1) determine the cost and availability of funds within each business segment, (2) assess the profitability of a specific business segment by aligning relevant costs with revenues, and (3) evaluate each business segment in a way that reflects its economic impact on consolidated earnings.
Banking
The Banking operating segment provides a full range of banking services to individual and corporate customers through First Busey Corporation’s wholly-owned bank subsidiary, Busey Bank.
Busey Bank has 79 banking centers located throughout Illinois; the St. Louis, Missouri MSA; southwest Florida; Indianapolis, Indiana; the Dallas-Fort Worth MSA; the Kansas City MSA; Wichita, Kansas; Oklahoma City and Tulsa, Oklahoma; Phoenix and Tucson, Arizona; Denver and Colorado Springs, Colorado; and Clayton, New Mexico.
Banking services offered to individual customers include customary types of demand and savings deposits, money transfers, safe deposit services, individual retirement accounts and other fiduciary services, automated teller machines, and technology-based networks, as well as a variety of loan products including residential real estate, home equity lines of credit, and consumer loans. Banking services offered to corporate customers include commercial, CRE, real estate construction, and agricultural loans, as well as commercial depository services such as cash management.
Wealth Management
The Wealth Management operating segment provides a full range of asset management, investment, brokerage, fiduciary, philanthropic advisory, tax preparation, and farm management services to individuals, businesses, and foundations. Services are provided through Busey Capital Management, Inc., a wholly-owned subsidiary of Busey Bank, and Busey Wealth Management, a division of Busey Bank.
Wealth management services tailored to individuals include trust and estate advisory services and financial planning. Business services include business succession planning and employee retirement plan services. Services for foundations include investment strategy consulting and fiduciary services.
FirsTech
The FirsTech operating segment provides comprehensive and innovative payment technology solutions through Busey Bank’s wholly-owned subsidiary, FirsTech. FirsTech's multi-channel payment platform allows businesses to collect payments from their customers in a variety of ways to enable fast, frictionless payments. Payment method vehicles include text-based mobile bill pay; interactive voice response; electronic payment concentration delivered to Automated Clearing House networks, money management, and credit card networks; walk-in payment processing for customers at retail pay agents; customer service payments made over a telephone; direct debit services; merchant services referral solutions serving partner Financial Institutions and their business customers; and lockbox remittance processing for customers to make payments by mail. FirsTech also provides additional tools to help clients with billing, reconciliation, bill reminders, and treasury services.
FirsTech's client base represents a diverse set of industries, with a higher concentration in highly regulated industries, such as financial institutions, utility, insurance, and telecommunications industries.
Segment Financial Information
The segment financial information provided below has been derived from information used by management to monitor and manage Busey’s financial performance. The accounting policies of Busey’s operating segments are the same as those described in the summary of significant accounting policies in “Note 1. Significant Accounting Policies.” Busey accounts for intersegment revenue and transfers at current market prices.
Goodwill and total assets are summarized below by operating segment. The “other” category included in the tables below consists of the parent company, First Busey Risk Management, Inc. until its dissolution on December 18, 2023, and the elimination of intercompany transactions:
As of December 31, 2025
(dollars in thousands)BankingWealth ManagementFirsTechOtherTotal
Goodwill$360,180 $14,108 $8,992 $— $383,280 
Total assets17,880,797 152,422 45,373 26,144 18,104,736 
As of December 31, 2024
(dollars in thousands)BankingWealth ManagementFirsTechOtherTotal
Goodwill$310,595 $14,108 $8,992 $— $333,695 
Total assets11,856,651 126,180 57,737 6,154 12,046,722 
Financial results by operating segment, including significant expense categories provided to the chief operating decision maker, are summarized below:
Year Ended December 31, 2025
(dollars in thousands)BankingWealth ManagementFirsTechOtherTotal
Interest income$893,854 $— $— $6 $893,860 
Intersegment interest income— — 62 (62)— 
Interest expense310,058 — — 14,193 324,251 
Intersegment interest expense3,210 — — (3,210)— 
Net interest income580,586 — 62 (11,039)569,609 
Provision for credit losses52,743 — — — 52,743 
Net interest income after provision for credit losses527,843 — 62 (11,039)516,866 
 
Noninterest income
Wealth management fees— 69,426 — — 69,426 
Payment technology solutions— — 20,000 — 20,000 
Treasury management services17,322 — — — 17,322 
Card services and ATM fees18,048 — — — 18,048 
Other service charges on deposit accounts6,281 — — — 6,281 
All other noninterest income11,701 754 (11)6,454 18,898 
Intersegment noninterest income1,795 — 1,588 (3,383)— 
Noninterest income55,147 70,180 21,577 3,071 149,975 
 
Revenue
635,733 70,180 21,639 (7,968)719,584 
 
Noninterest expense
Salaries, wages, and employee benefits206,640 28,870 10,589 42,964 289,063 
Data processing36,551 2,590 3,702 338 43,181 
Amortization of intangible assets15,735 879 — — 16,614 
Interchange expense— — 5,194 — 5,194 
All other noninterest expense104,371 2,691 2,818 16,269 126,149 
Intersegment noninterest expense18,427 3,330 1,534 (23,291)— 
Noninterest expense381,724 38,360 23,837 36,280 480,201 
 
Income (loss) before income taxes201,266 31,820 (2,198)(44,248)186,640 
Income taxes50,924 7,637 (435)(6,748)51,378 
Net income$150,342 $24,183 $(1,763)$(37,500)$135,262 
Year Ended December 31, 2024
BankingWealth ManagementFirsTechOtherTotal
Interest income$523,648 $— $— $33 $523,681 
Intersegment interest income324 — 48 (372)— 
Interest expense183,126 — — 17,944 201,070 
Intersegment interest expense2,664 — — (2,664)— 
Net interest income338,182 — 48 (15,619)322,611 
Provision for credit losses7,495 — — — 7,495 
Net interest income after provision for credit losses330,687 — 48 (15,619)315,116 
 
Noninterest income
Wealth management fees— 63,630 — — 63,630 
Payment technology solutions— — 21,983 — 21,983 
Treasury management services8,377 — — — 8,377 
Card services and ATM fees13,424 — — — 13,424 
Other service charges on deposit accounts9,440 — — — 9,440 
All other noninterest income20,563 1,323 — 942 22,828 
Intersegment noninterest income1,402 — 1,071 (2,473)— 
Noninterest income53,206 64,953 23,054 (1,531)139,682 
 
Revenue391,388 64,953 23,102 (17,150)462,293 
 
Noninterest expense
Salaries, wages, and employee benefits117,730 26,631 10,130 21,128 175,619 
Data processing20,631 2,263 3,692 538 27,124 
Amortization of intangible assets8,916 1,141 — — 10,057 
Interchange expense— — 6,001 — 6,001 
All other noninterest expense67,528 2,836 2,736 9,593 82,693 
Intersegment noninterest expense11,457 3,096 1,443 (15,996)— 
Noninterest expense226,262 35,967 24,002 15,263 301,494 
 
Income (loss) before income taxes157,631 28,986 (900)(32,413)153,304 
Income taxes40,365 6,956 (230)(7,478)39,613 
Net income$117,266 $22,030 $(670)$(24,935)$113,691 
Year Ended December 31, 2023
BankingWealth ManagementFirsTechOtherTotal
Interest income$480,438 $— $— $105 $480,543 
Intersegment interest income— — 54 (54)— 
Interest expense140,917 — — 19,005 159,922 
Intersegment interest expense3,006 — — (3,006)— 
Net interest income336,515 — 54 (15,948)320,621 
Provision for credit losses2,860 — — — 2,860 
Net interest income after provision for credit losses333,655 — 54 (15,948)317,761 
 
Noninterest income
Wealth management fees— 57,309 — — 57,309 
Payment technology solutions— — 21,192 — 21,192 
Treasury management services7,435 — — — 7,435 
Card services and ATM fees12,305 — — — 12,305 
Other service charges on deposit accounts10,134 — — — 10,134 
All other noninterest income14,507 514 — (2,182)12,839 
Intersegment noninterest income1,149 — 1,554 (2,703)— 
Noninterest income45,530 57,823 22,746 (4,885)121,214 
 
Revenue382,045 57,823 22,800 (20,833)441,835 
 
Noninterest expense
Salaries, wages, and employee benefits111,834 24,474 8,522 17,767 162,597 
Data processing18,217 1,937 3,013 541 23,708 
Amortization of intangible assets8,963 1,469 — — 10,432 
Interchange expense— — 6,864 — 6,864 
All other noninterest expense70,798 2,503 2,154 6,015 81,470 
Intersegment noninterest expense13,178 2,698 1,100 (16,976)— 
Noninterest expense222,990 33,081 21,653 7,347 285,071 
 
Income (loss) before income taxes156,195 24,742 1,147 (28,180)153,904 
Income taxes32,342 5,938 317 (7,258)31,339 
Net income$123,853 $18,804 $830 $(20,922)$122,565