Reportable Segments and Related Information

12 Months Ended

Dec. 31, 2012

Reportable Segments and Related Information

Reportable Segments and Related Information

Note 20.  Reportable Segments and Related Information

The Company has three reportable segments, Busey Bank, FirsTech and Busey Wealth Management.  Busey Bank provides a full range of banking services to individual and corporate customers through its branch network in downstate Illinois, through its branch in Indianapolis, Indiana, and through its branch network in southwest Florida.  FirsTech provides remittance processing for online bill payments, lockbox and walk-in payments.  Busey Wealth Management is the parent company of Busey Trust Company, which provides a full range of asset management, investment and fiduciary services to individuals, businesses and foundations, tax preparation and philanthropic advisory services.

The Company’s three reportable segments are strategic business units that are separately managed as they offer different products and services and have different marketing strategies.

The segment financial information provided below has been derived from the internal accounting system used by management to monitor and manage the financial performance of the Company.  The accounting policies of the three segments are the same as those described in the summary of significant accounting policies in Footnote 1.  The Company accounts for intersegment revenue and transfers at current market value.

The following summarized information relates to the Company’s reportable segments:

	Goodwill					Total Assets
As of December 31,	2012		2011			2012			2011
	(dollars in thousands)					(dollars in thousands)
Busey Bank	$	—	$	—		$	3,567,637		$	3,331,869
FirsTech	8,992		8,992			26,401			25,542
Busey Wealth Management	11,694		11,694			26,653			25,867
All Other	—		—			(2,635		)	18,844
Totals	$	20,686	$	20,686		$	3,618,056		$	3,402,122
			Year ended December 31,
			2012			2011			2010
			(dollars in thousands)
Interest income:
Busey Bank			$	116,608		$	132,501		$	155,921
FirsTech			62			66			56
Busey Wealth Management			251			255			248
All Other			(5		)	(3		)	(42		)
Total interest income			$	116,916		$	132,819		$	156,183
Interest expense:
Busey Bank			$	13,466		$	20,514		$	35,887
FirsTech			—			—			—
Busey Wealth Management			—			—			—
All Other			1,304			1,912			3,145
Total interest expense			$	14,770		$	22,426		$	39,032
Other income:
Busey Bank			$	39,908		$	35,940		$	40,341
FirsTech			8,522			9,287			9,493
Busey Wealth Management			16,345			14,841			13,822
All Other			2,077			(1,053		)	(903		)
Total other income			$	66,852		$	59,015		$	62,753
Net income (loss):
Busey Bank			$	19,162		$	28,504		$	21,230
FirsTech			935			1,437			1,821
Busey Wealth Management			3,363			3,095			3,283
All Other			(1,103		)	(3,163		)	(3,104		)
Total net income			$	22,357		$	29,873		$	23,230