Reportable Segments and Related Information

3 Months Ended

Mar. 31, 2013

Reportable Segments and Related Information

Reportable Segments and Related Information

Note 10:  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 the Company’s Annual Report on Form 10-K for the year ended December 31, 2012.

Following is a summary of selected financial information for the Company’s business segments:

	Goodwill				Total Assets
	March 31,		December 31,		March 31,		December 31,
	2013		2012		2013		2012
	(dollars in thousands)				(dollars in thousands)
Goodwill & Total Assets:
Busey Bank	$	—	$	—	$	3,571,224	$	3,567,637
FirsTech	8,992		8,992		26,453		26,401
Busey Wealth Management	11,694		11,694		26,523		26,653
All Other	—		—		24,110		(2,635		)
Total	$	20,686	$	20,686	$	3,648,310	$	3,618,056

	Three Months Ended March 31,
	2013			2012
	(dollars in thousands)
Interest income:
Busey Bank	$	27,040		$	30,013
FirsTech	13			16
Busey Wealth Management	60			66
All Other	2			1
Total interest income	$	27,115		$	30,096
Interest expense:
Busey Bank	$	2,232		$	4,064
FirsTech	—			—
Busey Wealth Management	—			—
All Other	300			334
Total interest expense	$	2,532		$	4,398
Other income:
Busey Bank	$	10,497		$	10,064
FirsTech	2,129			2,189
Busey Wealth Management	4,103			3,932
All Other	(88		)	1,695
Total other income	$	16,641		$	17,880
Net income:
Busey Bank	$	5,793		$	6,029
FirsTech	262			265
Busey Wealth Management	820			863
All Other	(442		)	486
Total net income	$	6,433		$	7,643