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DEBT SECURITIES (Tables)
 3 Months Ended
Mar. 31, 2026
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, 2026
(dollars in thousands)
Amortized
Cost
Unrealized
Fair
Value
Gross Gains
Gross Losses
Debt securities available for sale1
Obligations of U.S. government corporations and agencies
$109,005 $245 $(244)$109,006 
Obligations of states and political subdivisions
271,311 862 (12,119)260,054 
Asset-backed securities
246,728 100 (322)246,506 
Commercial mortgage-backed securities
160,476 272 (11,293)149,455 
Residential mortgage-backed securities
1,537,318 5,104 (132,751)1,409,671 
Corporate debt securities
42,183 243 (1,851)40,575 
Total debt securities available for sale$2,367,021 $6,826 $(158,580)$2,215,267 
Amortized
Cost
Unrecognized
Fair
Value
Gross Gains
Gross Losses
Debt securities held to maturity
Commercial mortgage-backed securities
$354,095 $— $(66,759)$287,336 
Residential mortgage-backed securities
371,445 — (57,707)313,738 
Total debt securities held to maturity$725,540 $— $(124,466)$601,074 
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1.This table includes debt securities marked at par, with no gain or loss.
As of December 31, 2025
(dollars in thousands)
Amortized
Cost
Unrealized
Fair
Value
Gross Gains
Gross Losses
Debt securities available for sale1
Obligations of U.S. government corporations and agencies
$111,876 $250 $(80)$112,046 
Obligations of states and political subdivisions
270,682 3,089 (9,898)263,873 
Asset-backed securities
265,203 412 (35)265,580 
Commercial mortgage-backed securities
143,522 611 (11,191)132,942 
Residential mortgage-backed securities
1,464,347 9,336 (129,267)1,344,416 
Corporate debt securities
45,215 187 (1,711)43,691 
Total debt securities available for sale
$2,300,845 $13,885 $(152,182)$2,162,548 
Amortized
Cost
Unrecognized
Fair
Value
Gross Gains
Gross Losses
Debt securities held to maturity
Commercial mortgage-backed securities
$367,825 $— $(65,210)$302,615 
Residential mortgage-backed securities
378,560 — (55,218)323,342 
Total debt securities held to maturity
$746,385 $— $(120,428)$625,957 
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1.This table includes debt securities marked at par, with no gain or loss.
Schedule of Maturities of Debt Securities All mortgage-backed securities were issued by U.S. government corporations and agencies.
As of March 31, 2026
(dollars in thousands)Amortized
Cost		Fair
Value
Debt securities available for sale
Due in one year or less$8,084 $8,061 
Due after one year through five years85,282 82,185 
Due after five years through ten years351,875 335,172 
Due after ten years1,921,780 1,789,849 
Debt securities available for sale$2,367,021 $2,215,267 
 
Debt securities held to maturity
Due in one year or less$9,946 $9,906 
Due after one year through five years35,678 34,363 
Due after ten years679,916 556,805 
Debt securities held to maturity$725,540 $601,074 
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)20262025
Realized gains and losses on debt securities
Gross gains on debt securities
$24 $8 
Gross losses on debt securities1
(1)(15,545)
Realized net gains (losses) on debt securities$23 $(15,537)
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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 and related estimated tax benefit of $4.3 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, 2026
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
$58,527 $(244)$31 $— $58,558 $(244)
Obligations of states and political subdivisions
97,227 (2,076)97,076 (10,043)194,303 (12,119)
Asset-backed securities83,728 (322)— — 83,728 (322)
Commercial mortgage-backed securities6,505 (75)71,215 (11,218)77,720 (11,293)
Residential mortgage-backed securities244,822 (2,558)741,431 (130,193)986,253 (132,751)
Corporate debt securities2,440 (49)26,444 (1,802)28,884 (1,851)
Debt securities available for sale with gross unrealized losses$493,249 $(5,324)$936,197 $(153,256)$1,429,446 $(158,580)
Fair
Value		Unrecognized
Losses		Fair
Value		Unrecognized
Losses
Debt securities held to maturity
Commercial mortgage-backed securities$287,336 $(66,759)$287,336 $(66,759)
Residential mortgage-backed securities313,738 (57,707)313,738 (57,707)
Debt securities held to maturity with gross unrecognized losses$601,074 $(124,466)$601,074 $(124,466)
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1.Losses on securities in a continuous loss position for 12 months or more were immaterial, rounding to zero thousand.
As of December 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 agencies
$39,156 $(80)$— $— $39,156 $(80)
Obligations of states and political subdivisions
28,592 (361)92,205 (9,537)120,797 (9,898)
Asset-backed securities
10,005 (35)— — 10,005 (35)
Commercial mortgage-backed securities
4,986 (48)71,830 (11,143)76,816 (11,191)
Residential mortgage-backed securities
84,023 (708)765,361 (128,559)849,384 (129,267)
Corporate debt securities
5,969 (20)29,097 (1,691)35,066 (1,711)
Debt securities available for sale with gross unrealized losses$172,731 $(1,252)$958,493 $(150,930)$1,131,224 $(152,182)
Fair
Value		Unrecognized
Losses		Fair
Value		Unrecognized
Losses
Debt securities held to maturity
Commercial mortgage-backed securities
$302,615 $(65,210)$302,615 $(65,210)
Residential mortgage-backed securities
323,342 (55,218)323,342 (55,218)
Debt securities held to maturity with gross unrecognized losses$625,957 $(120,428)$625,957 $(120,428)
Additional information about debt securities in an unrealized or unrecognized loss position is presented in the tables below:
As of March 31, 2026
(dollars in thousands)Available for Sale Held to Maturity Total
Debt securities with gross unrealized or unrecognized losses, fair value$1,429,446 $601,074 $2,030,520 
Gross unrealized or unrecognized losses on debt securities158,580 124,466 283,046 
Ratio of gross unrealized or unrecognized losses to debt securities with gross unrealized or unrecognized losses11.1 %20.7 %13.9 %
 
Count of debt securities637 52 689 
Count of debt securities in an unrealized or unrecognized loss position455 52 507 
As of December 31, 2025
(dollars in thousands)Available for Sale Held to MaturityTotal
Debt securities with gross unrealized or unrecognized losses, fair value$1,131,224 $625,957 $1,757,181 
Gross unrealized or unrecognized losses on debt securities152,182 120,428 272,610 
Ratio of gross unrealized or unrecognized losses to debt securities with gross unrealized or unrecognized losses13.5 %19.2 %15.5 %
 
Count of debt securities637 52 689 
Count of debt securities in an unrealized or unrecognized loss position376 52 428