LEASES (Tables)

3 Months Ended

Mar. 31, 2026

Leases [Abstract]

Schedule of Lease-Related Balances

The following table summarizes lease-related balances that Busey reported on its Consolidated Balance Sheets (Unaudited):

		As of
(dollars in thousands)	Location	March 31, 2026		December 31, 2025
Lease balances
Right of use assets:
Operating leases	Other assets	$	32,104	$	30,204
Finance leases1	Premises and equipment, net	5,076		5,155
Total right of use assets		$	37,180	$	35,359
Lease liabilities:
Operating leases	Other liabilities	$	35,749	$	32,597
Finance leases	Long-term borrowings	6,178		6,223
Total lease liabilities		$	41,927	$	38,820

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1.Balances are presented net of accumulated amortization of $0.3 million and $0.3 million at March 31, 2026, and December 31, 2025, respectively.

Lease terms are summarized as follows:

	As of
	March 31, 2026		December 31, 2025
Lease terms
Weighted average remaining lease terms:
Operating leases	7.56 years		7.41 years
Finance leases	16.01 years		16.26 years
Weighted average discount rates:
Operating leases	4.28	%	4.24	%
Finance leases	5.10	%	5.10	%

Schedule of Lease Costs and Other Lease Information

The following table presents lease costs that Busey reported on its Consolidated Statements of Income (Unaudited):

		Three Months Ended March 31,
(dollars in thousands)	Location	2026		2025
Lease costs
Operating lease costs:
Premises rent expense	Net occupancy expense of premises	$	1,711	$	950
Equipment rent expense	Furniture and equipment expenses	8		7
Finance lease costs:
Amortization expense	Net occupancy expense of premises	79		—
Interest expense	Long-term borrowings	78		—
Variable lease costs	Net occupancy expense of premises	10		15
Short-term lease costs	Net occupancy expense of premises	5		12
Total lease cost		$	1,891	$	984

Cash paid for amounts included in the measurement of lease liabilities is presented in the following table:

	Three Months Ended March 31,
(dollars in thousands)	2026		2025
Cash flows related to leases
Operating cash flows from operating leases	$	3,005	$	1,559
Operating cash flows from finance leases	78		—
Financing cash flows from finance leases	45		—
Right of use assets obtained in exchange for operating lease liabilities1	3,248		30,733

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1.The three months ended March 31, 2025, included $30.7 million right of use assets recognized in connection with the acquisition of CrossFirst.

Schedule of Future Undiscounted Lease Payments

Future undiscounted payments for leases with initial terms of one year or more are presented in the table below:

	As of March 31, 2026
(dollars in thousands)	Operating Leases		Finance Leases
Rent commitments
Remainder of 2026	$	5,091	$	368
2027	6,470		527
2028	5,941		540
2029	4,958		540
2030	4,057		540
2031	3,898		540
Thereafter	11,648		6,085
Total undiscounted cash flows	42,063		9,140
Less: Amounts representing interest	6,314		2,962
Present value of net future minimum lease payments	$	35,749	$	6,178

Schedule of Revenue Recorded in Connection with Leases

Revenues recorded in connection with these leases, reported in other income on Busey’s Consolidated Statements of Income (Unaudited), are summarized in the table below:

	Three Months Ended March 31,
(dollars in thousands)	2026		2025
Rental income	$	214	$	216

Schedule of Future Minimum Lease Payments

Under the terms of these lease agreements, Busey is entitled to receive aggregate future lease payments as shown in the table below:

(dollars in thousands)	As of March 31, 2026
Rents to be received
Remainder of 2026	$	587
2027	515
2028	377
2029	197
2030	117
Total lease payments from operating leases	$	1,793