PARENT COMPANY ONLY FINANCIAL INFORMATION (Tables)

12 Months Ended

Dec. 31, 2025

Condensed Financial Information Disclosure [Abstract]

Balance sheets

Condensed financial data for First Busey Corporation is presented below.

CONDENSED BALANCE SHEETS

	As of December 31,
(dollars in thousands)	2025		2024
Assets
Cash and cash equivalents	$	126,764	$	73,484
Equity securities	14,761		10,295
Investments in subsidiaries:
Bank	2,483,450		1,584,264
Premises and equipment, net	1,590		11
Other assets	41,614		29,859
Total assets	$	2,668,179	$	1,697,913
Liabilities and stockholders' equity
Liabilities:
Subordinated notes, net of unamortized issuance costs	$	99,395	$	227,723
Junior subordinated debentures owed to unconsolidated trusts	77,328		74,815
Other liabilities	22,474		12,106
Total liabilities	199,197		314,644
Total stockholders' equity	2,468,982		1,383,269
Total liabilities and stockholders' equity	$	2,668,179	$	1,697,913

Statements of income

	Years Ended December 31,
(dollars in thousands)	2025		2024		2023
Operating income
Dividends from subsidiaries:
Bank	$	160,000	$	100,000	$	90,000
Non-bank	—		—		900
Income from dissolution of non-bank subsidiary	—		—		733
Interest income	3,155		2,325		2,956
Gains (losses) recognized on equity securities, net	4,467		931		(2,171)
Other income	23,380		14,641		14,130
Total operating income	191,002		117,897		106,548
Expense
Salaries, wages, and employee benefits	42,963		21,129		17,766
Interest expense	14,193		17,944		19,005
Operating expense	18,094		11,238		8,009
Total expense	75,250		50,311		44,780
Income (loss) before income tax benefit and equity in undistributed (in excess of) net income of subsidiaries	115,752		67,586		61,768
Income tax benefit	6,748		7,480		7,310
Income (loss) before equity in undistributed (in excess of) net income of subsidiaries	122,500		75,066		69,078
Equity in undistributed (in excess of) net income of subsidiaries
Bank	12,762		38,625		53,487
Net income	$	135,262	$	113,691	$	122,565

Statements of cash flows

	Years Ended December 31,
(dollars in thousands)	2025		2024		2023
Cash flows provided by (used in) operating activities
Net income	$	135,262	$	113,691	$	122,565
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	1,029		1,163		1,038
Distributions more (less) than net income of subsidiaries	(12,762)		(38,625)		(53,487)
(Gains) losses recognized on equity securities, net	(4,467)		(931)		2,171
Stock-based compensation	17,120		7,726		6,595
(Increase) decrease in other assets	(157)		(8,848)		6,253
Increase (decrease) in other liabilities	(6,166)		365		(7,687)
Net cash provided by (used in) operating activities	129,859		74,541		77,448
Cash flows provided by (used in) investing activities
Sales (purchases) of equity securities, net	—		995		—
Net cash received in (paid for) acquisitions	11,832		(14,623)		—
Purchases of premises and equipment	(1,201)		(9)		—
Repayments of investments in subsidiaries	—		—		1,480
Net cash provided by (used in) investing activities	10,631		(13,637)		1,480
Cash flows provided by (used in) financing activities
Cash paid for withholding taxes on stock-based payments	(5,282)		(1,755)		(1,093)
Cash dividends paid	(90,989)		(54,169)		(53,076)
Repayments of borrowings	(129,000)		(31,450)		(12,000)
Proceeds from the exercise of stock options and warrants	(452)		(3)		9
Proceeds from issuance of treasury stock for the 2021 ESPP	1,845		—		—
Purchase of treasury stock	(69,859)		—		(4,482)
Issuance of preferred stock, net of stock issuance costs	207,447		—		—
Common stock issuance costs	(920)		(141)		—
Net cash provided (used in) by financing activities	(87,210)		(87,518)		(70,642)
Net increase (decrease) in cash and cash equivalents	53,280		(26,614)		8,286
Cash and cash equivalents, beginning of period	73,484		100,098		91,812
Cash and cash equivalents, ending of period	$	126,764	$	73,484	$	100,098