{"id":840324,"date":"2025-04-22T17:03:05","date_gmt":"2025-04-22T21:03:05","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/first-busey-corporation-announces-2025-first-quarter-results\/"},"modified":"2025-04-22T17:03:05","modified_gmt":"2025-04-22T21:03:05","slug":"first-busey-corporation-announces-2025-first-quarter-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/first-busey-corporation-announces-2025-first-quarter-results\/","title":{"rendered":"First Busey Corporation Announces 2025 First Quarter Results"},"content":{"rendered":"
\n

LEAWOOD, Kan., April 22, 2025 (GLOBE NEWSWIRE) — First Busey Corporation (Nasdaq: BUSE) reports first quarter results.<\/p>\n

\n Busey<\/strong>
\n completed<\/strong>
\n the<\/strong>
\n transformative<\/strong>
\n acquisition<\/strong>
\n of<\/strong>
\n CrossFirst<\/strong>
\n Bankshares,<\/strong>
\n Inc.<\/strong>
\n on<\/strong>
\n March<\/strong>
\n 1,<\/strong>
\n 2025,<\/strong>
\n significantly impacting first quarter results and resetting the baseline for financial performance for future quarters in a multitude of positive ways.<\/strong>\n <\/p>\n\n\n\n\n
\n Net Income (Loss)<\/strong>\n <\/td>\n\n Diluted EPS<\/strong>\n <\/td>\n\n Net Interest Margin1<\/sup><\/strong>\n <\/td>\n\n ROAA1<\/sup><\/strong>\n <\/td>\n\n ROATCE1<\/sup><\/strong>\n <\/td>\n<\/tr>\n
\n $(30.0) million<\/strong>\n <\/td>\n\n $(0.44)<\/strong>\n <\/td>\n\n 3.16%<\/strong>\n <\/td>\n\n (0.82)%<\/strong>\n <\/td>\n\n (7.99)%<\/strong>\n <\/td>\n<\/tr>\n
$39.9 million (adj)2<\/sup><\/td>\n$0.57 (adj)2<\/sup><\/td>\n3.08% (adj)2<\/sup><\/td>\n1.09% (adj)2<\/sup><\/td>\n10.64% (adj)2<\/sup><\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n
\n MESSAGE FROM OUR CHAIRMAN & CEO<\/strong><\/p>\n

The transformative partnership between Busey and CrossFirst takes our organization to new heights, combining our growing commercial bank with the power of Busey\u2019s core deposit franchise, wealth management platform, and payment technology solutions at FirsTech, Inc. As we build upon Busey\u2019s forward momentum, we are grateful for the opportunities to consistently earn the business of our customers, based on the contributions of our talented associates and the continued support of our loyal shareholders.<\/td>\n<\/tr>\n

Van A. Dukeman\u00a0
Chairman and Chief Executive Officer\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n
\n
PARTNERSHIP WITH CROSSFIRST<\/strong>\n <\/p>\n

Effective March\u00a01, 2025, First Busey Corporation (\u201cBusey,\u201d \u201cCompany,\u201d \u201cwe,\u201d \u201cus,\u201d or \u201cour\u201d), the holding company for Busey Bank, completed its previously announced acquisition (the \u201cMerger\u201d) of CrossFirst Bankshares, Inc. (\u201cCrossFirst\u201d) (NASDAQ: CFB), the holding company for CrossFirst Bank, pursuant to an Agreement and Plan of Merger, dated August\u00a026, 2024, by and between Busey and CrossFirst (the \u201cMerger Agreement\u201d). This partnership creates a premier commercial bank in the Midwest, Southwest, and Florida, with 78 full-service locations across 10 states\u2014Arizona, Colorado, Florida, Illinois, Indiana, Kansas, Missouri, New Mexico, Oklahoma, and Texas. The combined holding company will continue to operate under the First Busey Corporation name. Busey common stock will continue to trade on the Nasdaq under the \u201cBUSE\u201d stock ticker symbol.<\/p>\n

Upon completion of the acquisition, each share of CrossFirst common stock converted to the right to receive 0.6675 of a share of Busey\u2019s common stock, with the result that holders of Busey\u2019s common stock owned approximately 63.5% of the combined company and holders of CrossFirst\u2019s common stock owned approximately 36.5% of the combined company, on a fully-diluted basis. Further, upon completion of the acquisition, each share of CrossFirst preferred stock converted to the right to receive one share of Busey preferred stock.<\/p>\n

CrossFirst Bank\u2019s results of operations were included in Busey\u2019s consolidated results of operations beginning March\u00a01, 2025. Busey will operate CrossFirst Bank as a separate banking subsidiary until it is merged with and into Busey Bank, which is expected to occur on June\u00a020, 2025. At the time of the bank merger, CrossFirst Bank locations will become banking centers of Busey Bank.<\/p>\n

\n The acquisition was accretive to tangible book value, exceeding initial projections of a six-month<\/strong>
\n earn back<\/strong>
\n period.<\/strong>\n <\/p>\n

Further details are included with Busey\u2019s Current Report on Form\u00a08\u2011K<\/u><\/a> announcing completion of the acquisition, which was filed with the U.S. Securities and Exchange Commission (the \u201cSEC\u201d) on March\u00a03, 2025.<\/p>\n

\n FINANCIAL RESULTS<\/strong>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n CONDENSED CONSOLIDATED STATEMENTS OF INCOME\u00a0<\/strong>
\n
\n (unaudited)<\/em>
\n <\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n Three Months Ended<\/strong>\n <\/td>\n<\/tr>\n
\n (dollars in thousands, except per share amounts)<\/em>\n <\/td>\n\u00a0<\/td>\n\n March 31,
2025<\/strong>\n <\/td>\n		\u00a0<\/td>\n\n December 31,
2024<\/strong>\n <\/td>\n		\u00a0<\/td>\n\n March 31,
2024<\/strong>\n <\/td>\n<\/tr>\n
Net interest income<\/td>\n\u00a0<\/td>\n$<\/td>\n103,731<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n81,578<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n75,854<\/td>\n\u00a0<\/td>\n<\/tr>\n
Provision for credit losses<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n42,452<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,273<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,038<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total noninterest income<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n21,223<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n35,221<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n34,913<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total noninterest expense<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n115,171<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n78,167<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n70,769<\/td>\n\u00a0<\/td>\n<\/tr>\n
Income (loss) before income taxes<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(32,669<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n37,359<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n34,960<\/td>\n\u00a0<\/td>\n<\/tr>\n
Income taxes<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(2,679<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9,254<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8,735<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net income (loss)<\/td>\n\u00a0<\/td>\n$<\/td>\n(29,990<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n28,105<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n26,225<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Basic earnings (loss) per common share<\/td>\n\u00a0<\/td>\n$<\/td>\n(0.44<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n0.49<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.47<\/td>\n\u00a0<\/td>\n<\/tr>\n
Diluted earnings (loss) per common share<\/td>\n\u00a0<\/td>\n$<\/td>\n(0.44<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n0.49<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.46<\/td>\n\u00a0<\/td>\n<\/tr>\n
Effective income tax rate<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8.20<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n24.77<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n24.99<\/td>\n%<\/td>\n<\/tr>\n
\u00a0<\/td>\n<\/tr>\n<\/table>\n

Busey\u2019s results of operations for the first quarter of 2025 was a net loss of $(30.0)\u00a0million, or $(0.44) per diluted common share, compared to net income of $28.1 million, or $0.49 per diluted common share, for the fourth quarter of 2024, and $26.2 million, or $0.46 per diluted common share, for the first quarter of 2024. Annualized return on average assets and annualized return on average tangible common equity2<\/sup> were (0.82)% and (7.99)%, respectively, for the first quarter of 2025.<\/p>\n

Busey views certain non-operating items, including acquisition-related expenses, restructuring charges, and one-time strategic events, as adjustments to net income reported under U.S. generally accepted accounting principles (“GAAP”). We also adjust for net securities gains and losses to align with industry and research analyst reporting. The objective of our presentation of adjusted earnings and adjusted earnings metrics is to allow investors and analysts to more clearly identify quarterly trends in core earnings performance. Non-operating pre-tax adjustments for acquisition and restructuring expenses2<\/sup> in the first quarter of 2025 were $26.0\u00a0million. Further, $3.1\u00a0million other noninterest expense was recorded to establish an initial allowance for Unfunded Commitments2<\/sup> and $42.4\u00a0million provision expense was recorded to establish an initial Allowance for Credit Losses for loans purchased without credit deterioration (\u201cnon-PCD\u201d loans) immediately following the close of the acquisition in accordance with Accounting Standards Codification 326-20-30-15. Additionally, net securities losses were $15.8\u00a0million, primarily related to the execution of a strategic balance sheet repositioning. Lastly, $4.6\u00a0million in one-time deferred tax valuation expense2<\/sup> was recorded in connection with the CrossFirst acquisition, which is expected to lower our effective blended state tax rate in future periods but created a negative adjustment to the carrying value of our deferred tax asset in the current period. For more information and a reconciliation of these non-GAAP measures (which are identified with the endnote labeled as 2) in tabular form, see “<\/em>Non-GAAP Financial Information<\/em>.”<\/p>\n

Adjusted net income2<\/sup>, which excludes the impact of non-GAAP adjustments, was $39.9\u00a0million, or $0.57 per diluted common share, for the first quarter of 2025, compared to $30.9\u00a0million, or $0.53 per diluted common share, for the fourth quarter of 2024 and $25.7\u00a0million or $0.46 per diluted common share for the first quarter of 2024. Annualized adjusted return on average assets2<\/sup> and annualized adjusted return on average tangible common equity2<\/sup> were 1.09% and 10.64%, respectively, for the first quarter of 2025.<\/p>\n

\n
\n Pre-Provision Net Revenue<\/em>
\n <\/strong>
\n 2<\/sup>\n <\/p>\n

Pre-provision net revenue2<\/sup> was $25.6 million for the first quarter of 2025, compared to $38.8 million for the fourth quarter of 2024 and $46.4 million for the first quarter of 2024. Pre-provision net revenue to average assets2<\/sup> was 0.70% for the first quarter of 2025, compared to 1.28% for the fourth quarter of 2024, and 1.55% for the first quarter of 2024.<\/p>\n

Adjusted pre-provision net revenue2<\/sup> was $54.7 million for the first quarter of 2025, compared to $42.0 million for the fourth quarter of 2024 and $38.6 million for the first quarter of 2024. Adjusted pre-provision net revenue to average assets2<\/sup> was 1.50% for the first quarter of 2025, compared to 1.38% for the fourth quarter of 2024 and 1.29% for the first quarter of 2024.<\/p>\n

\n
\n Net Interest Income and Net Interest Margin<\/em>
\n <\/strong>
\n 2<\/sup>\n <\/p>\n

Net interest income was $103.7\u00a0million in the first quarter of 2025, compared to $81.6\u00a0million in the fourth quarter of 2024 and $75.9\u00a0million in the first quarter of 2024.<\/p>\n

Net interest margin2<\/sup> was 3.16% for the first quarter of 2025, compared to 2.95% for the fourth quarter of 2024 and 2.79% for the first quarter of 2024. Excluding purchase accounting accretion, adjusted net interest margin2<\/sup> was 3.08% for the first quarter of 2025, compared to 2.92% in the fourth quarter of 2024 and 2.78% in the first quarter of 2024.<\/p>\n

Components of the 21\u00a0basis point\u00a0increase in net interest margin2<\/sup> during the first quarter of 2025, which includes approximately +12\u00a0basis points contributed by CrossFirst Bank, are as follows:<\/p>\n

    \n
  • Increased loan portfolio and held for sale loan yields contributed +36\u00a0basis points<\/li>\n
  • Increased purchase accounting accretion contributed +5\u00a0basis points<\/li>\n
  • Decreased borrowing expense contributed +3\u00a0basis points<\/li>\n
  • Decreased expense on rate swaps contributed +2\u00a0basis points<\/li>\n
  • Increased non-maturity deposit funding costs contributed -17\u00a0basis points<\/li>\n
  • Decreased cash and securities portfolio yield contributed -8\u00a0basis points\n<\/li>\n<\/ul>\n

    Based on our most recent Asset Liability Management Committee (\u201cALCO\u201d) model, a +100\u00a0basis point parallel rate shock is expected to increase net interest income by 1.8% over the subsequent twelve-month period. Busey continues to evaluate and execute off-balance sheet hedging and balance sheet repositioning strategies as well as embedding rate protection in our asset originations to provide stabilization to net interest income in lower rate environments. Time deposit and savings specials have provided funding flows, and we had excess earning cash during the first quarter of 2025. A portion of the acquired CrossFirst Bank securities portfolio was liquidated when the acquisition was finalized, providing additional excess cash that will allow us to unwind non-core funding. As brokered CDs mature, Busey will continue to deploy excess cash to reduce wholesale funding levels during subsequent quarters. Total deposit cost of funds increased from 1.75% during the fourth quarter of 2024 to 1.91% during the first quarter of 2025. Deposit betas increased with the higher mix of acquired indexed and wholesale deposits and a full quarter of the consolidated Company\u2019s funding base is projected to increase total deposit cost of funds during the second quarter of 2025. With the expectation of Busey paying down non-core funding, the deposit beta will lessen during the year and is expected to normalize in the 45% to 50% beta range. Growth in higher yielding earning assets is expected to offset the increased cost of funds pressure and we project further net interest margin expansion during the second quarter of 2025.<\/p>\n

    \n
    \n Noninterest Income<\/em>
    \n <\/strong>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
    \u00a0<\/td>\n\n Three Months Ended<\/strong>\n <\/td>\n<\/tr>\n
    \n (dollars in thousands)<\/em>\n <\/td>\n\n March 31,<\/strong>
    \n
    \n 2025<\/strong>\n <\/td>\n    		\n \u00a0<\/strong>\n <\/td>\n\n December 31,<\/strong>
    \n
    \n 2024<\/strong>\n <\/td>\n    		\n \u00a0<\/strong>\n <\/td>\n\n March 31,<\/strong>
    \n
    \n 2024<\/strong>\n <\/td>\n<\/tr>\n
    \n NONINTEREST INCOME<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
    Wealth management fees<\/td>\n$<\/td>\n17,364<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n16,786<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n15,549<\/td>\n\u00a0<\/td>\n<\/tr>\n
    Fees for customer services<\/td>\n\u00a0<\/td>\n8,128<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7,911<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7,056<\/td>\n\u00a0<\/td>\n<\/tr>\n
    Payment technology solutions<\/td>\n\u00a0<\/td>\n5,073<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,094<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,709<\/td>\n\u00a0<\/td>\n<\/tr>\n
    Mortgage revenue<\/td>\n\u00a0<\/td>\n329<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n496<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n746<\/td>\n\u00a0<\/td>\n<\/tr>\n
    Income on bank owned life insurance<\/td>\n\u00a0<\/td>\n1,446<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,080<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,419<\/td>\n\u00a0<\/td>\n<\/tr>\n
    Realized net gains (losses) on the sale of mortgage servicing rights<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7,465<\/td>\n\u00a0<\/td>\n<\/tr>\n
    Net securities gains (losses)<\/td>\n\u00a0<\/td>\n(15,768<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(196<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(6,375<\/td>\n)<\/td>\n<\/tr>\n
    Other noninterest income<\/td>\n\u00a0<\/td>\n4,651<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,050<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,344<\/td>\n\u00a0<\/td>\n<\/tr>\n
    Total noninterest income<\/td>\n$<\/td>\n21,223<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n35,221<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n34,913<\/td>\n\u00a0<\/td>\n<\/tr>\n
    \u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

    Total noninterest income decreased by 39.7% compared to the fourth quarter of 2024 and decreased by 39.2% compared to the first quarter of 2024, primarily due to net securities losses that were recorded in connection with a strategic balance sheet repositioning.<\/p>\n

    Excluding the impact of net securities gains and losses and the gains on the sale of mortgage servicing rights, adjusted noninterest income2<\/sup> increased by 4.4% to $37.0\u00a0million, or 26.3% of operating revenue2<\/sup>, during the first quarter of 2025, compared to $35.4\u00a0million, or 30.3% of operating revenue2<\/sup>, for the fourth quarter of 2024. Compared to the first quarter of 2024, adjusted noninterest income2<\/sup> increased by 9.4% from $33.8\u00a0million, or 30.8% of operating revenue2<\/sup>.<\/p>\n

    Our fee-based businesses continue to add revenue diversification. Wealth management fees, wealth management referral fees included in other noninterest income, and payment technology solutions contributed 61.1% of adjusted noninterest income2<\/sup> for the first quarter of 2025.<\/p>\n

    Noteworthy components of noninterest income are as follows:<\/p>\n

      \n
    • Wealth management fees increased by 3.4% compared to the fourth quarter of 2024. Compared to the first quarter of 2024 wealth management fees increased by 11.7%. Busey\u2019s Wealth Management division ended the first quarter of 2025 with $13.68\u00a0billion in assets under care, compared to $13.83 billion at the end of the fourth quarter of 2024 and $12.76 billion at the end of the first quarter of 2024. Our portfolio management team continues to focus on long-term returns and managing risk in the face of volatile markets and has outperformed its blended benchmark3<\/sup> over the last three and five years. The Wealth Management segment reported another quarter of record high revenue for the first quarter of 2025.<\/li>\n
    • Payment technology solutions revenue decreased slightly compared the fourth quarter of 2024. Compared to the first quarter of 2024, payment technology solutions revenue decreased by 11.1% primarily due to decreases in income from electronic, online, and interactive voice response payments, partially offset by increases in lockbox and merchant services income.<\/li>\n
    • Fees for customer services increased by 2.7% compared to the fourth quarter of 2024 primarily due to increases in income from analysis charges and interchange fees, offset by lower non-sufficient funds charges. Compared to the first quarter of 2024, fees for customer services increased by 15.2% primarily due to increases in analysis charges, automated teller machine fees, and interchange fees, offset by lower non-sufficient funds charges. Increases in fees for customer services are primarily attributable to the inclusion of one month of CrossFirst\u2019s income in our first quarter results.<\/li>\n
    • Other noninterest income increased by 14.8% compared to the fourth quarter of 2024 and by 39.1% compared to the first quarter of 2024. The increase for both periods was driven by increases in swap origination fee income, commercial loan sales gains, letter of credit fee income, and other real estate owned income, offset by decreases in venture capital income.\n<\/li>\n<\/ul>\n

      \n
      \n Operating Efficiency<\/em>
      \n <\/strong>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
      \u00a0<\/td>\n\n Three Months Ended<\/strong>\n <\/td>\n<\/tr>\n
      \n (dollars in thousands)<\/em>\n <\/td>\n\n March 31,<\/strong>
      \n
      \n 2025<\/strong>\n <\/td>\n      		\n \u00a0<\/strong>\n <\/td>\n\n December 31,<\/strong>
      \n
      \n 2024<\/strong>\n <\/td>\n      		\n \u00a0<\/strong>\n <\/td>\n\n March 31,<\/strong>
      \n
      \n 2024<\/strong>\n <\/td>\n<\/tr>\n
      \n NONINTEREST EXPENSE<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
      Salaries, wages, and employee benefits<\/td>\n$<\/td>\n67,563<\/td>\n\u00a0<\/td>\n$<\/td>\n45,458<\/td>\n\u00a0<\/td>\n$<\/td>\n42,090<\/td>\n<\/tr>\n
      Data processing expense<\/td>\n\u00a0<\/td>\n9,575<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6,564<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6,550<\/td>\n<\/tr>\n
      Net occupancy expense of premises<\/td>\n\u00a0<\/td>\n5,799<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,794<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,720<\/td>\n<\/tr>\n
      Furniture and equipment expense<\/td>\n\u00a0<\/td>\n1,744<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,650<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,813<\/td>\n<\/tr>\n
      Professional fees<\/td>\n\u00a0<\/td>\n9,511<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,938<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,253<\/td>\n<\/tr>\n
      Amortization of intangible assets<\/td>\n\u00a0<\/td>\n3,083<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,471<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,409<\/td>\n<\/tr>\n
      Interchange expense<\/td>\n\u00a0<\/td>\n1,343<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,305<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,611<\/td>\n<\/tr>\n
      FDIC insurance<\/td>\n\u00a0<\/td>\n2,167<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,330<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,400<\/td>\n<\/tr>\n
      Other noninterest expense<\/td>\n\u00a0<\/td>\n14,386<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9,657<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7,923<\/td>\n<\/tr>\n
      Total noninterest expense<\/td>\n$<\/td>\n115,171<\/td>\n\u00a0<\/td>\n$<\/td>\n78,167<\/td>\n\u00a0<\/td>\n$<\/td>\n70,769<\/td>\n<\/tr>\n
      \u00a0<\/td>\n<\/tr>\n<\/table>\n

      Total noninterest expense increased by 47.3% compared to the fourth quarter of 2024 and increased by 62.7% compared to the first quarter of 2024. Growth in noninterest expense was primarily attributable to one-time acquisition expenses related to the CrossFirst acquisition as well as added costs for operating expenses for two banks during one month of the quarter. Annual pre-tax expense synergy estimates resulting from the CrossFirst acquisition remain on track at $25.0\u00a0million. Busey anticipates a 50% rate of synergy realization in 2025 and 100% in 2026.<\/p>\n

      Adjusted noninterest expense2<\/sup>, which excludes acquisition and restructuring expenses, amortization of intangible assets, and the provision for unfunded commitments, was $82.9\u00a0million in the first quarter of 2025, compared to $72.6\u00a0million in the fourth quarter of 2024 and $68.6\u00a0million in the first quarter of 2024. As our business grows, Busey remains focused on prudently managing our expense base and operating efficiency.<\/p>\n

      Noteworthy components of noninterest expense are as follows:<\/p>\n

        \n
      • Salaries, wages, and employee benefits expenses increased by $22.1\u00a0million compared to the fourth quarter of 2024, and by $25.5\u00a0million compared to the first quarter of 2024, of which $15.6\u00a0million and $15.8\u00a0million, respectively, was attributable to increases in non-operating expenses, with additional severance, retention, and stock-based compensation. Busey has added 501 full time equivalent associates (\u201cFTEs\u201d) over the past year, mostly as a result of acquisitions, including 437 CrossFirst Bank FTEs added in March 2025 and 46 Merchants & Manufacturers Bank FTEs added in April 2024.<\/li>\n
      • Data processing expense increased by $3.0\u00a0million compared to both the fourth quarter of 2024 and the first quarter of 2024, of which $2.3\u00a0million and $2.2\u00a0million, respectively, was attributable to increases in non-operating expenses. Busey has continued to make investments in technology enhancements and has also experienced inflation-driven price increases.<\/li>\n
      • Professional fees increased by $4.6\u00a0million compared to the fourth quarter of 2024, of which $4.3\u00a0million was attributable to increases in non-operating expenses. Compared to the first quarter of 2024, professional fees increased by $7.3\u00a0million, of which $7.2\u00a0million was attributable to increases in non-operating expenses.<\/li>\n
      • Amortization of intangible assets increased by $0.6\u00a0million compared to the fourth quarter of 2024, and by $0.7\u00a0million compared to the first quarter of 2024. The CrossFirst acquisition added an estimated $81.8 million of finite-lived intangible assets, which will be amortized using an accelerated amortization methodology.<\/li>\n
      • Other noninterest expense increased by $4.7\u00a0million compared to the fourth quarter of 2024, and increased by $6.5\u00a0million compared to the first quarter of 2024, of which $0.3 million and $0.5\u00a0million, respectively, resulted from increases in non-operating expenses related to acquisition and restructuring expenses. Further, $3.1\u00a0million of non-operating expenses was recorded for the Day 2 provision for unfunded commitments. Multiple expense items contributed to the remaining fluctuations in this expense category, including marketing, business development, regulatory expenses, mortgage servicing rights valuation expenses, and other real estate owned.\n<\/li>\n<\/ul>\n

        Busey\u2019s efficiency ratio2<\/sup> was 79.3% for the first quarter of 2025, compared to 64.5% for the fourth quarter of 2024 and 58.1% for the first quarter of 2024. Our adjusted efficiency2<\/sup> ratio was 58.7% for the first quarter of 2025, compared to 61.8% for the fourth quarter of 2024, and 62.3% for the first quarter of 2024.<\/p>\n

        Busey\u2019s annualized ratio of adjusted noninterest expense to average assets was 2.27% for the first quarter of 2025, compared to 2.39% for the fourth quarter of 2024 and 2.30% for the first quarter of 2024.<\/p>\n

        \n BALANCE SHEET STRENGTH<\/strong>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
        \n CONDENSED CONSOLIDATED BALANCE SHEETS\u00a0<\/strong>
        \n
        \n (unaudited)<\/em>
        \n <\/strong>\n <\/td>\n<\/tr>\n
        \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \u00a0<\/td>\n\n As of<\/strong>\n <\/td>\n<\/tr>\n
        \n
        \n (dollars in thousands, except per share amounts)<\/em>
        \n <\/strong>\n <\/td>\n        		\n March 31,<\/strong>
        \n
        \n 2025<\/strong>\n <\/td>\n        		\u00a0<\/td>\n\n December 31,<\/strong>
        \n
        \n 2024<\/strong>\n <\/td>\n        		\u00a0<\/td>\n\n March 31,<\/strong>
        \n
        \n 2024<\/strong>\n <\/td>\n<\/tr>\n
        \n ASSETS<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Cash and cash equivalents<\/td>\n$<\/td>\n1,200,292<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n697,659<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n591,071<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Debt securities available for sale<\/td>\n\u00a0<\/td>\n2,273,874<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,810,221<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,898,072<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Debt securities held to maturity<\/td>\n\u00a0<\/td>\n815,402<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n826,630<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n862,218<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Equity securities<\/td>\n\u00a0<\/td>\n10,828<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n15,862<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9,790<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Loans held for sale<\/td>\n\u00a0<\/td>\n7,270<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,657<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6,827<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Portfolio loans<\/td>\n\u00a0<\/td>\n13,868,357<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7,697,087<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7,588,077<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Allowance for credit losses<\/td>\n\u00a0<\/td>\n(195,210<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(83,404<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(91,562<\/td>\n)<\/td>\n<\/tr>\n
        Restricted bank stock<\/td>\n\u00a0<\/td>\n53,518<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n49,930<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6,000<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Premises and equipment, net<\/td>\n\u00a0<\/td>\n182,003<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n118,820<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n121,506<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Right of use assets<\/td>\n\u00a0<\/td>\n40,594<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n10,608<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n10,590<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Goodwill and other intangible assets, net<\/td>\n\u00a0<\/td>\n496,118<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n365,975<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n351,455<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Other assets<\/td>\n\u00a0<\/td>\n711,206<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n533,677<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n533,414<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \n Total assets<\/strong>\n <\/td>\n$<\/td>\n19,464,252<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n12,046,722<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n11,887,458<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \n LIABILITIES & STOCKHOLDERS’ EQUITY<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \n Liabilities<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Total deposits<\/td>\n$<\/td>\n16,459,470<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n9,982,490<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n9,960,191<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Securities sold under agreements to repurchase<\/td>\n\u00a0<\/td>\n137,340<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n155,610<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n147,175<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Short-term borrowings<\/td>\n\u00a0<\/td>\n11,209<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Long-term debt<\/td>\n\u00a0<\/td>\n306,509<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n227,723<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n223,100<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Junior subordinated debt owed to unconsolidated trusts<\/td>\n\u00a0<\/td>\n77,117<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n74,815<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n72,040<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Lease liabilities<\/td>\n\u00a0<\/td>\n41,111<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11,040<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n10,896<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Other liabilities<\/td>\n\u00a0<\/td>\n251,890<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n211,775<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n191,405<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Total liabilities<\/td>\n\u00a0<\/td>\n17,284,646<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n10,663,453<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n10,604,807<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \n Stockholders’ equity<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Retained earnings<\/td>\n\u00a0<\/td>\n249,484<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n294,054<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n248,412<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Accumulated other comprehensive income (loss)<\/td>\n\u00a0<\/td>\n(172,810<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(207,039<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(222,190<\/td>\n)<\/td>\n<\/tr>\n
        Other stockholders’ equity1<\/sup><\/td>\n\u00a0<\/td>\n2,102,932<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,296,254<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,256,429<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Total stockholders’ equity<\/td>\n\u00a0<\/td>\n2,179,606<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,383,269<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,282,651<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \n Total liabilities & stockholders’ equity<\/strong>\n <\/td>\n$<\/td>\n19,464,252<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n12,046,722<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n11,887,458<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \n SHARE AND PER SHARE AMOUNTS<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Book value per common share2<\/sup><\/td>\n$<\/td>\n24.13<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n24.31<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n23.19<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Tangible book value per common share2<\/sup><\/td>\n$<\/td>\n18.62<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n17.88<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n16.84<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Ending number of common shares outstanding<\/td>\n\u00a0<\/td>\n90,008,178<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n56,895,981<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n55,300,008<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

        ___________________________________________
        1. Net balance of preferred stock ($0.001 par value), common stock ($0.001 par value), additional paid-in capital, and treasury stock.
        2. See \u201cNon-GAAP Financial Information<\/em>\u201d for reconciliation.<\/p>\n

        \n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
        \n AVERAGE BALANCES\u00a0<\/strong>
        \n
        \n (unaudited)<\/em>
        \n <\/strong>\n <\/td>\n<\/tr>\n
        \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \u00a0<\/td>\n\n Three Months Ended<\/strong>\n <\/td>\n<\/tr>\n
        \n
        \n (dollars in thousands)<\/em>
        \n <\/strong>\n <\/td>\n        		\n March 31,<\/strong>
        \n
        \n 2025<\/strong>\n <\/td>\n        		\n \u00a0<\/strong>\n <\/td>\n\n December 31,<\/strong>
        \n
        \n 2024<\/strong>\n <\/td>\n        		\n \u00a0<\/strong>\n <\/td>\n\n March 31,<\/strong>
        \n
        \n 2024<\/strong>\n <\/td>\n<\/tr>\n
        \n ASSETS<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Cash and cash equivalents<\/td>\n$<\/td>\n861,021<\/td>\n\u00a0<\/td>\n$<\/td>\n776,572<\/td>\n\u00a0<\/td>\n$<\/td>\n594,193<\/td>\n<\/tr>\n
        Investment securities<\/td>\n\u00a0<\/td>\n2,782,435<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,597,309<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,907,144<\/td>\n<\/tr>\n
        Loans held for sale<\/td>\n\u00a0<\/td>\n3,443<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6,306<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,833<\/td>\n<\/tr>\n
        Portfolio loans<\/td>\n\u00a0<\/td>\n9,838,337<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7,738,772<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7,599,316<\/td>\n<\/tr>\n
        Interest-earning assets<\/td>\n\u00a0<\/td>\n13,363,594<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11,048,350<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11,005,903<\/td>\n<\/tr>\n
        Total assets<\/td>\n\u00a0<\/td>\n14,831,298<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n12,085,993<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n12,024,208<\/td>\n<\/tr>\n
        \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \n LIABILITIES & STOCKHOLDERS\u2019 EQUITY<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Noninterest-bearing deposits<\/td>\n\u00a0<\/td>\n3,036,127<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,724,344<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,708,586<\/td>\n<\/tr>\n
        Interest-bearing deposits<\/td>\n\u00a0<\/td>\n9,142,781<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7,325,662<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7,330,105<\/td>\n<\/tr>\n
        Total deposits<\/td>\n\u00a0<\/td>\n12,178,908<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n10,050,006<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n10,038,691<\/td>\n<\/tr>\n
        Federal funds purchased and securities sold under agreements to repurchase<\/td>\n\u00a0<\/td>\n144,838<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n135,728<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n178,659<\/td>\n<\/tr>\n
        Interest-bearing liabilities<\/td>\n\u00a0<\/td>\n9,627,841<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7,763,729<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7,831,655<\/td>\n<\/tr>\n
        Total liabilities<\/td>\n\u00a0<\/td>\n12,896,222<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n10,689,054<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n10,748,484<\/td>\n<\/tr>\n
        Stockholders’ equity – preferred<\/td>\n\u00a0<\/td>\n2,669<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n<\/tr>\n
        Stockholders’ equity – common<\/td>\n\u00a0<\/td>\n1,932,407<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,396,939<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,275,724<\/td>\n<\/tr>\n
        Tangible common equity1<\/sup><\/td>\n\u00a0<\/td>\n1,521,387<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,029,539<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n922,710<\/td>\n<\/tr>\n<\/table>\n

        ___________________________________________
        1. See \u201cNon-GAAP Financial Information<\/em>\u201d for reconciliation.<\/p>\n

        Busey\u2019s financial strength is built on a long-term conservative operating approach. That focus will not change now or in the future.<\/p>\n

        Total assets were $19.46\u00a0billion as of March\u00a031, 2025, compared to $12.05\u00a0billion as of December\u00a031, 2024, and $11.89\u00a0billion as of March\u00a031, 2024. Average interest-earning assets were $13.36\u00a0billion for the first quarter of 2025, compared to $11.05\u00a0billion for the fourth quarter of 2024, and $11.01\u00a0billion for the first quarter of 2024.<\/p>\n

        \n
        \n Portfolio Loans<\/em>
        \n <\/strong>\n <\/p>\n

        We remain steadfast in our conservative approach to underwriting and our disciplined approach to pricing, particularly given our outlook for the economy in the coming quarters. Portfolio loans totaled $13.87\u00a0billion at March\u00a031, 2025, compared to $7.70\u00a0billion at December\u00a031, 2024, and $7.59\u00a0billion at March\u00a031, 2024. Busey Bank\u2019s portfolio loans grew by $133.6\u00a0million during the first quarter of 2025, with growth centered in the commercial category. In addition, as of March\u00a031, 2024, CrossFirst Bank added $6.04\u00a0billion in loans to Busey\u2019s loan portfolio.<\/p>\n

        Average portfolio loans were $9.84\u00a0billion for the first quarter of 2025, compared to $7.74\u00a0billion for the fourth quarter of 2024 and $7.60\u00a0billion for the first quarter of 2024.<\/p>\n

        \n Asset Quality<\/u>\n <\/p>\n

        Asset quality continues to be strong. Busey Bank maintains a well-diversified loan portfolio and, as a matter of policy and practice, limits concentration exposure in any particular loan segment. CrossFirst Bank\u2019s policies are similar in nature to Busey Bank\u2019s policies and Busey is in the process of migrating the legacy CrossFirst portfolio toward Busey Bank\u2019s policies.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
        \n ASSET QUALITY\u00a0<\/strong>
        \n
        \n (unaudited)<\/em>
        \n <\/strong>\n <\/td>\n<\/tr>\n
        \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \u00a0<\/td>\n\n As of<\/strong>\n <\/td>\n<\/tr>\n
        \n (dollars in thousands)<\/em>\n <\/td>\n\n March 31,<\/strong>
        \n
        \n 2025<\/strong>\n <\/td>\n        		\u00a0<\/td>\n\n December 31,<\/strong>
        \n
        \n 2024<\/strong>\n <\/td>\n        		\u00a0<\/td>\n\n March 31,<\/strong>
        \n
        \n 2024<\/strong>\n <\/td>\n<\/tr>\n
        \n Total assets<\/strong>\n <\/td>\n$<\/td>\n19,464,252<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n12,046,722<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n11,887,458<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \n Portfolio loans<\/strong>\n <\/td>\n\u00a0<\/td>\n13,868,357<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7,697,087<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7,588,077<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Loans 30\u00a0\u2013\u00a089 days past due<\/td>\n\u00a0<\/td>\n18,554<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8,124<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7,441<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Non-performing loans:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Non-accrual loans<\/td>\n\u00a0<\/td>\n48,647<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n22,088<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n17,465<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Loans 90+ days past due and still accruing<\/td>\n\u00a0<\/td>\n6,077<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,149<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n88<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Non-performing loans<\/td>\n\u00a0<\/td>\n54,724<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n23,237<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n17,553<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Other non-performing assets<\/td>\n\u00a0<\/td>\n4,757<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n63<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n65<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Non-performing assets<\/td>\n\u00a0<\/td>\n59,481<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n23,300<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n17,618<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Substandard (excludes 90+ days past due)<\/td>\n\u00a0<\/td>\n131,078<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n62,023<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n87,830<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Classified assets<\/td>\n$<\/td>\n190,559<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n85,323<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n105,448<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \n Allowance for credit losses<\/strong>\n <\/td>\n$<\/td>\n195,210<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n83,404<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n91,562<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \n RATIOS<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Non-performing loans to portfolio loans<\/td>\n\u00a0<\/td>\n0.39<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.30<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.23<\/td>\n%<\/td>\n<\/tr>\n
        Non-performing assets to total assets<\/td>\n\u00a0<\/td>\n0.31<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.19<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.15<\/td>\n%<\/td>\n<\/tr>\n
        Non-performing assets to portfolio loans and other non-performing assets<\/td>\n\u00a0<\/td>\n0.43<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.30<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.23<\/td>\n%<\/td>\n<\/tr>\n
        Allowance for credit losses to portfolio loans<\/td>\n\u00a0<\/td>\n1.41<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.08<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.21<\/td>\n%<\/td>\n<\/tr>\n
        Coverage ratio of the allowance for credit losses to non-performing loans<\/td>\n3.57 x<\/td>\n\u00a0<\/td>\n3.59 x<\/td>\n\u00a0<\/td>\n5.22 x<\/td>\n<\/tr>\n
        Classified assets to Bank Tier\u00a01 capital1<\/sup>and reserves<\/td>\n\u00a0<\/td>\n8.40<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5.61<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7.24<\/td>\n%<\/td>\n<\/tr>\n<\/table>\n

        ___________________________________________
        1. Capital amounts for the first quarter of 2025 are not yet finalized and are subject to change.<\/p>\n

        Loans 30-89 days past due increased by $10.4\u00a0million compared to December\u00a031, 2024, and increased by $11.1\u00a0million compared to March\u00a031, 2024. Busey Bank\u2019s loans 30-89 days past due were $6.1\u00a0million, a decrease of $2.0 million compared to December\u00a031, 2024. CrossFirst Bank\u2019s loans 30-89 days past due were $12.5\u00a0million as of March\u00a031, 2025.<\/p>\n

        Non-performing loans increased by $31.5\u00a0million compared to December\u00a031, 2024, and increased by $37.2\u00a0million compared to March\u00a031, 2024. Busey Bank\u2019s non-performing loans were $6.8\u00a0million, a decrease of $16.4 million compared to December\u00a031, 2024. CrossFirst Bank\u2019s non-performing loans were $47.9\u00a0million as of March\u00a031, 2025. Continued disciplined credit management resulted in non-performing loans as a percentage of portfolio loans of 0.39% as of March\u00a031, 2025, a 9\u00a0basis point increase from December\u00a031, 2024, and a 16\u00a0basis point increase from March\u00a031, 2024.<\/p>\n

        Non-performing assets increased by $36.2\u00a0million compared to December\u00a031, 2024, and increased by $41.9\u00a0million compared to March\u00a031, 2024. Busey Bank\u2019s non-performing assets were $7.1\u00a0million, a decrease of $16.2 million compared to December\u00a031, 2024. CrossFirst Bank\u2019s non-performing assets were $52.4\u00a0million as of March\u00a031, 2025. Non-performing assets represented 0.31% of total assets as of March\u00a031, 2025, a 12\u00a0basis point increase from December\u00a031, 2024, and a 16\u00a0basis point increase from March\u00a031, 2024.<\/p>\n

        Classified assets increased by $105.2\u00a0million compared to December\u00a031, 2024, and increased by $85.1\u00a0million compared to March\u00a031, 2024. Busey Bank\u2019s classified assets were $81.3\u00a0million, a decrease of $4.0 million compared to December\u00a031, 2024. CrossFirst Bank\u2019s classified assets were $109.3\u00a0million as of March\u00a031, 2025.<\/p>\n

        The allowance for credit losses was $195.2 million as of March\u00a031, 2025, representing 1.41% of total portfolio loans outstanding, and providing coverage of 3.57\u00a0times our non-performing loans balance. In connection with the CrossFirst acquisition, the Day\u00a01 allowance recorded for loans that were purchased with credit deterioration (\u201cPCD\u201d loans) was $100.8\u00a0million. The Day\u00a01 PCD allowance was recorded as an adjustment to the fair value of the PCD loans.<\/p>\n\n\n\n\n\n\n\n\n
        \n NET CHARGE-OFFS (RECOVERIES) AND PROVISION EXPENSE (RELEASE)\u00a0<\/strong>
        \n
        \n (unaudited)<\/em>
        \n <\/strong>\n <\/td>\n<\/tr>\n
        \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \u00a0<\/td>\nThree Months Ended<\/td>\n<\/tr>\n
        \n (dollars in thousands)<\/em>\n <\/td>\nMarch 31,
        2025<\/td>\n        		\u00a0<\/td>\nDecember 31,
        2024<\/td>\n        		\u00a0<\/td>\nMarch 31,
        2024<\/td>\n<\/tr>\n
        Net charge-offs (recoveries)<\/td>\n$<\/td>\n31,429<\/td>\n\u00a0<\/td>\n$<\/td>\n2,850<\/td>\n\u00a0<\/td>\n$<\/td>\n5,216<\/td>\n<\/tr>\n
        Provision expense (release)<\/td>\n\u00a0<\/td>\n42,452<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,273<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,038<\/td>\n<\/tr>\n
        \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

        Net charge-offs increased by $28.6\u00a0million when compared to the fourth quarter of 2024, and by $26.2\u00a0million when compared with the first quarter of 2024. Net charge-offs include $29.6\u00a0million related to PCD loans acquired from CrossFirst Bank, which were fully reserved at acquisition and did not require recording additional provision expense.<\/p>\n

        Busey\u2019s results for the first quarter of 2025 include $42.5\u00a0million provision expense for credit losses, which includes $42.4\u00a0million that was recorded to establish an initial allowance for credit losses on non-PCD acquired loans.<\/p>\n

        \n
        \n Deposits<\/em>
        \n <\/strong>\n <\/p>\n

        Total deposits were $16.46\u00a0billion at March\u00a031, 2025, compared to $9.98\u00a0billion at December\u00a031, 2024, and $9.96\u00a0billion at March\u00a031, 2024. Average deposits were $12.18\u00a0billion for the first quarter of 2025, compared to $10.05\u00a0billion for the fourth quarter of 2024 and $10.04\u00a0billion for the first quarter of 2024.<\/p>\n

        Core deposits2<\/sup> accounted for 89.7% of total deposits as of March\u00a031, 2025. The quality of our core deposit franchise is a critical value driver of our institution. We estimated that 32% of our deposits were uninsured and uncollateralized4<\/sup> as of March\u00a031, 2025, and we have sufficient on- and off-balance sheet liquidity to manage deposit fluctuations and the liquidity needs of our customers.<\/p>\n

        We have executed various deposit campaigns to attract term funding and savings accounts at a lower rate than our marginal cost of funds. New certificate of deposit production in the first quarter of 2025 had a weighted average term of 7.8\u00a0months at a rate of 3.58%, which was 96\u00a0basis points below our average marginal wholesale equivalent-term funding cost during the quarter.<\/p>\n

        \n
        \n Borrowings<\/em>
        \n <\/strong>\n <\/p>\n

        As of March\u00a031, 2025, Busey Bank held $16.7\u00a0million of long-term Federal Home Loan Bank (\u201cFHLB\u201d) borrowings. In comparison, Busey Bank had no short-term or long-term FHLB borrowings as of December\u00a031, 2024, or March\u00a031, 2024. As of March\u00a031, 2025, CrossFirst Bank held $11.2\u00a0million of short-term FHLB borrowings and $61.9\u00a0million of long-term FHLB borrowings.<\/p>\n

        In addition, associated with the CrossFirst acquisition, Busey assumed trust preferred securities with a recorded balance of $2.2\u00a0million as of March\u00a031, 2025.<\/p>\n

        \n
        \n Liquidity<\/em>
        \n <\/strong>\n <\/p>\n

        As of March\u00a031, 2025, our available sources of on- and off-balance sheet liquidity5<\/sup> totaled $8.55\u00a0billion. Furthermore, our balance sheet liquidity profile continues to be aided by the cash flows we expect from our relatively short-duration securities portfolio. Those cash flows were approximately $119.7\u00a0million in the first quarter of 2025. Cash flows from maturing securities within our portfolio are expected to be approximately $302.3\u00a0million for the remainder of 2025, with a current book yield of 2.55%, and approximately $308.1\u00a0million for 2026, with a current book yield of 2.59%.<\/p>\n

        \n
        \n Capital Strength<\/em>
        \n <\/strong>\n <\/p>\n

        The strength of our balance sheet is also reflected in our capital foundation. Although impacted by the strategic deployment of capital for the CrossFirst acquisition, our capital ratios remain strong, and as of March\u00a031, 2025, our regulatory capital ratios continued to provide a buffer of more than $630\u00a0million above levels required to be designated well-capitalized. Busey\u2019s Common Equity Tier\u00a01 ratio is estimated6<\/sup> to be 11.99% at March\u00a031, 2025, compared to 14.10% at December\u00a031, 2024, and 13.45% at March\u00a031, 2024. Our Total Capital to Risk Weighted Assets ratio is estimated6<\/sup> to be 14.87% at March\u00a031, 2025, compared to 18.53% at December\u00a031, 2024, and 17.95% at March\u00a031, 2024.<\/p>\n

        Busey\u2019s tangible common equity2<\/sup> was $1.68\u00a0billion at March\u00a031, 2025, compared to $1.02 billion at December\u00a031, 2024, and $931.2 million at March\u00a031, 2024. Tangible common equity2<\/sup> represented 8.83% of tangible assets at March\u00a031, 2025, compared to 8.71% at December\u00a031, 2024, and 8.07% at March\u00a031, 2024.<\/p>\n

        Busey\u2019s tangible book value per common share2<\/sup> was $18.62 at March\u00a031, 2025, compared to $17.88 at December\u00a031, 2024, and $16.84 at March\u00a031, 2024, reflecting a 10.6% year-over-year increase. The ratios of tangible common equity to tangible assets2<\/sup> and tangible book value per common share have been impacted by the fair market valuation adjustment of Busey\u2019s securities portfolio as a result of the current rate environment, which is reflected in the accumulated other comprehensive income (loss) component of shareholder\u2019s equity.<\/p>\n

        Busey’s strong capital levels, coupled with its earnings, have allowed the Company to provide a steady return to its stockholders through dividends. During the first quarter of 2025, we paid a dividend of $0.25 per share on Busey\u2019s common stock, which represents a 4.2% increase from the previous quarterly dividend of $0.24 per share. Busey has consistently paid dividends to its common stockholders since the bank holding company was organized in 1980.<\/p>\n

        During the first quarter of 2025, Busey resumed making stock repurchases under its stock repurchase plan, purchasing 220,000 shares of its common stock at a weighted average price of $21.98 per share for a total of $4.8\u00a0million. As of March\u00a031, 2025, Busey had 1,699,275 shares remaining on its stock repurchase plan available for repurchase.<\/p>\n

        \n FIRST QUARTER EARNINGS INVESTOR PRESENTATION<\/strong>\n <\/p>\n

        For additional information on Busey\u2019s financial condition and operating results, please refer to our Q1\u00a02025 Earnings Investor Presentation<\/em><\/strong> furnished via Form\u00a08\u2011K on April\u00a022, 2025, in connection with this earnings release.<\/p>\n

        \n CORPORATE PROFILE<\/strong>\n <\/p>\n

        As of March\u00a031, 2025, First Busey Corporation (Nasdaq: BUSE) was a $19.46 billion financial holding company headquartered in Leawood, Kansas.<\/p>\n

        Busey Bank, a wholly-owned bank subsidiary of First Busey Corporation headquartered in Champaign, Illinois, had total assets of $11.98 billion as of March\u00a031, 2025. Busey Bank currently has 62 banking centers, with 21 in Central Illinois markets, 17 in suburban Chicago markets, 20 in the St. Louis Metropolitan Statistical Area, three in Southwest Florida, and one in Indianapolis. More information about Busey Bank can be found at busey.com.<\/p>\n

        CrossFirst Bank, a wholly-owned bank subsidiary of First Busey Corporation headquartered in Leawood, Kansas, had total assets of $7.45 billion as of March\u00a031, 2025. CrossFirst Bank currently has 16 banking centers located across Arizona, Colorado, Kansas, Missouri, New Mexico, Oklahoma, and Texas. More information about CrossFirst Bank can be found at crossfirstbank.com. It is anticipated that CrossFirst Bank will be merged with and into Busey Bank on June\u00a020, 2025.<\/p>\n

        Through Busey\u2019s Wealth Management division, the Company provides a full range of asset management, investment, brokerage, fiduciary, philanthropic advisory, tax preparation, and farm management services to individuals, businesses, and foundations. Assets under care totaled $13.68\u00a0billion as of March\u00a031, 2025. More information about Busey\u2019s Wealth Management services can be found at busey.com\/wealth-management.<\/p>\n

        Busey Bank\u2019s wholly-owned subsidiary, FirsTech, specializes in the evolving financial technology needs of small and medium-sized businesses, highly regulated enterprise industries, and financial institutions. FirsTech provides comprehensive and innovative payment technology solutions, including online, mobile, and voice-recognition bill payments; money and data movement; merchant services; direct debit services; lockbox remittance processing for payments made by mail; and walk-in payments at retail agents. Additionally, FirsTech simplifies client workflows through integrations enabling support with billing, reconciliation, bill reminders, and treasury services. More information about FirsTech can be found at firstechpayments.com.<\/p>\n

        For the fourth consecutive year, Busey was named among 2025\u2019s America\u2019s Best Banks by Forbes<\/em>. Ranked 88th overall, Busey was one of seven banks headquartered in Illinois included on this year\u2019s list. Busey was also named among the 2024 Best Banks to Work For by American Banker<\/em>, the 2024 Best Places to Work in Money Management by Pensions and Investments<\/em>, the 2024 Best Places to Work in Illinois by Daily Herald Business Ledger<\/em>, the 2025 Best Places to Work in Indiana by the Indiana Chamber of Commerce, and the 2024 Best Companies to Work For in Florida by Florida Trend<\/em> magazine. We are honored to be consistently recognized globally, nationally and locally for our engaged culture of integrity and commitment to community development.<\/p>\n

        \n NON-GAAP FINANCIAL INFORMATION<\/strong>\n <\/p>\n

        This earnings release contains certain financial information determined by methods other than GAAP. Management uses these non-GAAP measures, together with the related GAAP measures, in analysis of Busey\u2019s performance and in making business decisions, as well as for comparison to Busey\u2019s peers. Busey believes the adjusted measures are useful for investors and management to understand the effects of certain non-core and non-recurring items and provide additional perspective on Busey\u2019s performance over time.<\/p>\n

        The following tables present reconciliations between these non-GAAP measures and what management believes to be the most directly comparable GAAP financial measures.<\/p>\n

        These non-GAAP disclosures have inherent limitations and are not audited. They should not be considered in isolation or as a substitute for operating results reported in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. Tax effected numbers included in these non-GAAP disclosures are based on estimated statutory rates, estimated federal income tax rates, or effective tax rates, as noted with the tables below.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
        \n RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (Unaudited)<\/em><\/strong>\n <\/td>\n<\/tr>\n
        \u00a0<\/td>\n<\/tr>\n
        \n Pre-Provision\u00a0Net\u00a0Revenue and Related Measures<\/strong>\n <\/td>\n<\/tr>\n
        \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \u00a0<\/td>\n\u00a0<\/td>\n\n Three Months Ended<\/strong>\n <\/td>\n<\/tr>\n
        \n (dollars in thousands)<\/em>\n <\/td>\n\u00a0<\/td>\n\n March 31,<\/strong>
        \n
        \n 2025<\/strong>\n <\/td>\n        		\u00a0<\/td>\n\n December 31,<\/strong>
        \n
        \n 2024<\/strong>\n <\/td>\n        		\u00a0<\/td>\n\n March 31,<\/strong>
        \n
        \n 2024<\/strong>\n <\/td>\n<\/tr>\n
        \n Net interest income (GAAP)<\/strong>\n <\/td>\n\u00a0<\/td>\n$<\/td>\n103,731<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n81,578<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n75,854<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \n Total noninterest income (GAAP)<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n21,223<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n35,221<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n34,913<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \n Net security (gains) losses (GAAP)<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n15,768<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n196<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6,375<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \n Total noninterest expense (GAAP)<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(115,171<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(78,167<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(70,769<\/td>\n)<\/td>\n<\/tr>\n
        Pre-provision net revenue (Non-GAAP)<\/td>\n[a]<\/td>\n\u00a0<\/td>\n25,551<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n38,828<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n46,373<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Acquisition and restructuring expenses<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n26,026<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,585<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n408<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Provision for unfunded commitments1<\/sup><\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,141<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(455<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(678<\/td>\n)<\/td>\n<\/tr>\n
        Realized (gain) loss on the sale of mortgage service rights<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(7,465<\/td>\n)<\/td>\n<\/tr>\n
        Adjusted pre-provision net revenue (Non-GAAP)<\/td>\n[b]<\/td>\n$<\/td>\n54,718<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n41,958<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n38,638<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Average total assets<\/td>\n[c]<\/td>\n\u00a0<\/td>\n14,831,298<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n12,085,993<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n12,024,208<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Pre-provision net revenue to average total assets (Non-GAAP)2<\/sup><\/td>\n[a\u00f7c]<\/td>\n\u00a0<\/td>\n0.70<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.28<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.55<\/td>\n%<\/td>\n<\/tr>\n
        Adjusted pre-provision net revenue to average total assets (Non-GAAP)2<\/sup><\/td>\n[b\u00f7c]<\/td>\n\u00a0<\/td>\n1.50<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.38<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.29<\/td>\n%<\/td>\n<\/tr>\n<\/table>\n

        ___________________________________________<\/p>\n

          \n
        1. For the three months ended March\u00a031, 2025, the provision for unfunded commitments included Day\u00a02 provision expense of $3.139 million recorded in connection with the CrossFirst acquisition.<\/li>\n
        2. Annualized measure.<\/li>\n<\/ol>\n

          \n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
          \n Adjusted\u00a0Net\u00a0Income, Average\u00a0Tangible\u00a0Common\u00a0Equity, and Related Ratios<\/strong>\n <\/td>\n<\/tr>\n
          \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
          \u00a0<\/td>\n\u00a0<\/td>\n\n Three Months Ended<\/strong>\n <\/td>\n<\/tr>\n
          \n (dollars in thousands, except per share amounts)<\/em>\n <\/td>\n\u00a0<\/td>\n\n March 31,<\/strong>
          \n
          \n 2025<\/strong>\n <\/td>\n          		\u00a0<\/td>\n\n December 31,<\/strong>
          \n
          \n 2024<\/strong>\n <\/td>\n          		\u00a0<\/td>\n\n March 31,<\/strong>
          \n
          \n 2024<\/strong>\n <\/td>\n<\/tr>\n
          Net income (loss) (GAAP)<\/td>\n[a]<\/td>\n$<\/td>\n(29,990<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n28,105<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n26,225<\/td>\n\u00a0<\/td>\n<\/tr>\n
          Acquisition expenses<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n26,026<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,469<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n285<\/td>\n\u00a0<\/td>\n<\/tr>\n
          Restructuring expenses<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,116<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n123<\/td>\n\u00a0<\/td>\n<\/tr>\n
          Day 2 provision for credit losses1<\/sup><\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n42,433<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n<\/tr>\n
          Day 2 provision for unfunded commitments2<\/sup><\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,139<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n<\/tr>\n
          Net securities (gains) losses<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n15,768<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n196<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6,375<\/td>\n\u00a0<\/td>\n<\/tr>\n
          Realized net (gains) losses on the sale of mortgage servicing rights<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(7,465<\/td>\n)<\/td>\n<\/tr>\n
          Related tax (benefit) expense3<\/sup><\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(22,069<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1,014<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n170<\/td>\n\u00a0<\/td>\n<\/tr>\n
          One-time deferred tax valuation adjustment4<\/sup><\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,591<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n<\/tr>\n
          Adjusted net income (Non-GAAP)5<\/sup><\/td>\n[b]<\/td>\n$<\/td>\n39,898<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n30,872<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n25,713<\/td>\n\u00a0<\/td>\n<\/tr>\n
          \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
          \n Weighted average number of common shares outstanding, diluted (GAAP)<\/strong>\n <\/td>\n[c]<\/td>\n\u00a0<\/td>\n68,517,647<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n57,934,812<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n56,406,500<\/td>\n\u00a0<\/td>\n<\/tr>\n
          \n Diluted earnings (loss) per common share (GAAP)<\/strong>\n <\/td>\n[a\u00f7c]<\/td>\n$<\/td>\n(0.44<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n0.49<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.46<\/td>\n\u00a0<\/td>\n<\/tr>\n
          \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
          Weighted average number of common shares outstanding, diluted (Non-GAAP)6<\/sup><\/td>\n[d]<\/td>\n\u00a0<\/td>\n69,502,717<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n57,934,812<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n56,406,500<\/td>\n\u00a0<\/td>\n<\/tr>\n
          Adjusted diluted earnings per common share (Non-GAAP)5<\/sup>,6<\/sup><\/td>\n[b\u00f7d]<\/td>\n$<\/td>\n0.57<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.53<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.46<\/td>\n\u00a0<\/td>\n<\/tr>\n
          \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
          Average total assets<\/td>\n[e]<\/td>\n$<\/td>\n14,831,298<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n12,085,993<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n12,024,208<\/td>\n\u00a0<\/td>\n<\/tr>\n
          Return on average assets (Non-GAAP)7<\/sup><\/td>\n[a\u00f7e]<\/td>\n(0.82<\/td>\n)%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.93<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.88<\/td>\n%<\/td>\n<\/tr>\n
          Adjusted return on average assets (Non-GAAP)5,<\/sup>7<\/sup><\/td>\n[b\u00f7e]<\/td>\n\u00a0<\/td>\n1.09<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.02<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.86<\/td>\n%<\/td>\n<\/tr>\n
          \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
          Average common equity<\/td>\n\u00a0<\/td>\n$<\/td>\n1,932,407<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,396,939<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,275,724<\/td>\n\u00a0<\/td>\n<\/tr>\n
          Average goodwill and other intangible assets, net<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(411,020<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(367,400<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(353,014<\/td>\n)<\/td>\n<\/tr>\n
          Average tangible common equity (Non-GAAP)<\/td>\n[f]<\/td>\n$<\/td>\n1,521,387<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,029,539<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n922,710<\/td>\n\u00a0<\/td>\n<\/tr>\n
          \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
          Return on average tangible common equity (Non-GAAP)7<\/sup><\/td>\n[a\u00f7f]<\/td>\n(7.99<\/td>\n)%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n10.86<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11.43<\/td>\n%<\/td>\n<\/tr>\n
          Adjusted return on average tangible common equity (Non-GAAP)5,<\/sup>7<\/sup><\/td>\n[b\u00f7f]<\/td>\n\u00a0<\/td>\n10.64<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11.93<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11.21<\/td>\n%<\/td>\n<\/tr>\n<\/table>\n

          ___________________________________________<\/p>\n

            \n
          1. The Day\u00a02 allowance for credit losses was recorded in connection with the CrossFirst acquisition to establish an allowance on non-PCD loans and is reflected within the provision for credit losses line on the Statement of Income.<\/li>\n
          2. The Day\u00a02 provision for unfunded commitments was recorded in connection with the CrossFirst acquisition and is reflected within the other noninterest expense line, as a component of total noninterest expense, on the Statement of Income.<\/li>\n
          3. Tax benefits were calculated using tax rates of 25.3%, 26.8%, and 24.9% for the three months ended March\u00a031, 2025, December\u00a031, 2024, and March\u00a031, 2024, respectively.<\/li>\n
          4. The deferred tax valuation adjustment was recorded in connection with the CrossFirst acquisition and relates to the expansion of Busey\u2019s footprint into new states. The deferred tax valuation adjustment is reflected within the income taxes line on the Statement of Income.<\/li>\n
          5. Beginning in 2025, Busey revised its calculation of adjusted net income for all periods presented to include, as applicable, adjustments for net securities gains and losses, realized net gains and losses on the sale of mortgage servicing rights, and one-time deferred tax valuation adjustments. In 2024, these adjusting items were previously presented as further adjustments to adjusted net income.<\/li>\n
          6. Dilution includes shares that would have been dilutive if there had been net income during the period.<\/li>\n
          7. Annualized measure.<\/li>\n<\/ol>\n

            \n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
            \n Tax-Equivalent\u00a0Net\u00a0Interest\u00a0Income, Adjusted\u00a0Net\u00a0Interest\u00a0Income, Net\u00a0Interest\u00a0Margin,\u00a0and Adjusted\u00a0Net\u00a0Interest\u00a0Margin<\/strong>\n <\/td>\n<\/tr>\n
            \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
            \u00a0<\/td>\n\u00a0<\/td>\n\n Three Months Ended<\/strong>\n <\/td>\n<\/tr>\n
            \n (dollars in thousands)<\/em>\n <\/td>\n\u00a0<\/td>\n\n March 31,<\/strong>
            \n
            \n 2025<\/strong>\n <\/td>\n            		\u00a0<\/td>\n\n December 31,<\/strong>
            \n
            \n 2024<\/strong>\n <\/td>\n            		\u00a0<\/td>\n\n March 31,<\/strong>
            \n
            \n 2024<\/strong>\n <\/td>\n<\/tr>\n
            \n Net interest income (GAAP)<\/strong>\n <\/td>\n\u00a0<\/td>\n$<\/td>\n103,731<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n81,578<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n75,854<\/td>\n\u00a0<\/td>\n<\/tr>\n
            Tax-equivalent adjustment1<\/sup><\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n537<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n446<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n449<\/td>\n\u00a0<\/td>\n<\/tr>\n
            Tax-equivalent net interest income (Non-GAAP)<\/td>\n[a]<\/td>\n\u00a0<\/td>\n104,268<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n82,024<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n76,303<\/td>\n\u00a0<\/td>\n<\/tr>\n
            Purchase accounting accretion related to business combinations<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(2,728<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(812<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(204<\/td>\n)<\/td>\n<\/tr>\n
            Adjusted net interest income (Non-GAAP)<\/td>\n[b]<\/td>\n$<\/td>\n101,540<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n81,212<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n76,099<\/td>\n\u00a0<\/td>\n<\/tr>\n
            \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
            Average interest-earning assets (Non-GAAP)<\/td>\n[c]<\/td>\n$<\/td>\n13,363,594<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n11,048,350<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n11,005,903<\/td>\n\u00a0<\/td>\n<\/tr>\n
            \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
            Net interest margin (Non-GAAP)2<\/sup><\/td>\n[a\u00f7c]<\/td>\n\u00a0<\/td>\n3.16<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2.95<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2.79<\/td>\n%<\/td>\n<\/tr>\n
            Adjusted net interest margin (Non-GAAP)2<\/sup><\/td>\n[b\u00f7c]<\/td>\n\u00a0<\/td>\n3.08<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2.92<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2.78<\/td>\n%<\/td>\n<\/tr>\n<\/table>\n

            ___________________________________________<\/p>\n

              \n
            1. Tax-equivalent adjustments were calculated using an estimated federal income tax rate of 21%, applied to non-taxable interest income on investments and loans.<\/li>\n
            2. Annualized measure.<\/li>\n<\/ol>\n

              \n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
              \n Adjusted\u00a0Noninterest\u00a0Income, Revenue\u00a0Measures, Adjusted\u00a0Noninterest\u00a0Expense, Efficiency\u00a0Ratios, and Adjusted\u00a0Noninterest\u00a0Expense\u00a0to\u00a0Average\u00a0Assets<\/strong>\n <\/td>\n<\/tr>\n
              \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
              \u00a0<\/td>\n\u00a0<\/td>\n\n Three Months Ended<\/strong>\n <\/td>\n<\/tr>\n
              \n (dollars in thousands)<\/em>\n <\/td>\n\u00a0<\/td>\n\n March 31,<\/strong>
              \n
              \n 2025<\/strong>\n <\/td>\n              		\u00a0<\/td>\n\n December 31,<\/strong>
              \n
              \n 2024<\/strong>\n <\/td>\n              		\u00a0<\/td>\n\n March 31,<\/strong>
              \n
              \n 2024<\/strong>\n <\/td>\n<\/tr>\n
              \n Net interest income (GAAP)<\/strong>\n <\/td>\n[a]<\/td>\n$<\/td>\n103,731<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n81,578<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n75,854<\/td>\n\u00a0<\/td>\n<\/tr>\n
              Tax-equivalent adjustment1<\/sup><\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n537<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n446<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n449<\/td>\n\u00a0<\/td>\n<\/tr>\n
              Tax-equivalent net interest income (Non-GAAP)<\/td>\n[b]<\/td>\n\u00a0<\/td>\n104,268<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n82,024<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n76,303<\/td>\n\u00a0<\/td>\n<\/tr>\n
              \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
              \n Total noninterest income (GAAP)<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n21,223<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n35,221<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n34,913<\/td>\n\u00a0<\/td>\n<\/tr>\n
              Net security (gains) losses<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n15,768<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n196<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6,375<\/td>\n\u00a0<\/td>\n<\/tr>\n
              Noninterest income excluding net securities gains and losses (Non-GAAP)<\/td>\n[c]<\/td>\n\u00a0<\/td>\n36,991<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n35,417<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n41,288<\/td>\n\u00a0<\/td>\n<\/tr>\n
              Realized net (gains) losses on the sale of mortgage servicing rights<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(7,465<\/td>\n)<\/td>\n<\/tr>\n
              Adjusted noninterest income (Non-GAAP)<\/td>\n[d]<\/td>\n$<\/td>\n36,991<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n35,417<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n33,823<\/td>\n\u00a0<\/td>\n<\/tr>\n
              \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
              Tax-equivalent revenue (Non-GAAP)<\/td>\n[e = b+c]<\/td>\n$<\/td>\n141,259<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n117,441<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n117,591<\/td>\n\u00a0<\/td>\n<\/tr>\n
              Adjusted tax-equivalent revenue (Non-GAAP)<\/td>\n[f = b+d]<\/td>\n$<\/td>\n141,259<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n117,441<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n110,126<\/td>\n\u00a0<\/td>\n<\/tr>\n
              Operating revenue (Non-GAAP)<\/td>\n[g = a+d]<\/td>\n$<\/td>\n140,722<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n116,995<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n109,677<\/td>\n\u00a0<\/td>\n<\/tr>\n
              \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
              Adjusted noninterest income to operating revenue (Non-GAAP)<\/td>\n[d\u00f7g]<\/td>\n\u00a0<\/td>\n26.29<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n30.27<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n30.84<\/td>\n%<\/td>\n<\/tr>\n
              \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
              \n Total noninterest expense (GAAP)<\/strong>\n <\/td>\n\u00a0<\/td>\n$<\/td>\n115,171<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n78,167<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n70,769<\/td>\n\u00a0<\/td>\n<\/tr>\n
              Amortization of intangible assets<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(3,083<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(2,471<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(2,409<\/td>\n)<\/td>\n<\/tr>\n
              Noninterest expense excluding amortization of intangible assets (Non-GAAP)<\/td>\n[h]<\/td>\n\u00a0<\/td>\n112,088<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n75,696<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n68,360<\/td>\n\u00a0<\/td>\n<\/tr>\n
              Acquisition and restructuring expenses<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(26,026<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(3,585<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(408<\/td>\n)<\/td>\n<\/tr>\n
              Provision for unfunded commitments2<\/sup><\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(3,141<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n455<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n678<\/td>\n\u00a0<\/td>\n<\/tr>\n
              Adjusted noninterest expense (Non-GAAP)3<\/sup><\/td>\n[i]<\/td>\n$<\/td>\n82,921<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n72,566<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n68,630<\/td>\n\u00a0<\/td>\n<\/tr>\n
              \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
              Efficiency ratio (Non-GAAP)<\/td>\n[h\u00f7e]<\/td>\n\u00a0<\/td>\n79.35<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n64.45<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n58.13<\/td>\n%<\/td>\n<\/tr>\n
              Adjusted efficiency ratio (Non-GAAP)3<\/sup><\/td>\n[i\u00f7f]<\/td>\n\u00a0<\/td>\n58.70<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n61.79<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n62.32<\/td>\n%<\/td>\n<\/tr>\n
              \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
              Average total assets<\/td>\n[j]<\/td>\n$<\/td>\n14,831,298<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n12,085,993<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n12,024,208<\/td>\n\u00a0<\/td>\n<\/tr>\n
              Adjusted noninterest expense to average assets (Non-GAAP)4<\/sup><\/td>\n[i\u00f7j]<\/td>\n\u00a0<\/td>\n2.27<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2.39<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2.30<\/td>\n%<\/td>\n<\/tr>\n<\/table>\n

              ___________________________________________<\/p>\n

                \n
              1. Tax-equivalent adjustments were calculated using an estimated federal income tax rate of 21%, applied to non-taxable interest income on investments and loans.<\/li>\n
              2. For the three months ended March\u00a031, 2025, the provision for unfunded commitments included Day\u00a02 provision expense of $3.139 million recorded in connection with the CrossFirst acquisition.<\/li>\n
              3. Beginning in 2025, Busey revised its calculation of adjusted noninterest expense and the adjusted efficiency ratio for all periods presented to include, as applicable, adjustments for the provision for unfunded commitments. In 2024, these adjustments were previously presented as adjustments for adjusted core expense and the adjusted core efficiency ratio.<\/li>\n
              4. Annualized measure.<\/li>\n<\/ol>\n

                \n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
                \n Tangible\u00a0Assets, Tangible\u00a0Common\u00a0Equity, and Related Measures and Ratio<\/strong>\n <\/td>\n<\/tr>\n
                \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
                \u00a0<\/td>\n\u00a0<\/td>\n\n As of<\/strong>\n <\/td>\n<\/tr>\n
                \n (dollars in thousands, except per share amounts)<\/em>\n <\/td>\n\u00a0<\/td>\n\n March 31,<\/strong>
                \n
                \n 2025<\/strong>\n <\/td>\n                		\u00a0<\/td>\n\n December 31,<\/strong>
                \n
                \n 2024<\/strong>\n <\/td>\n                		\u00a0<\/td>\n\n March 31,<\/strong>
                \n
                \n 2024<\/strong>\n <\/td>\n<\/tr>\n
                \n Total assets (GAAP)<\/strong>\n <\/td>\n\u00a0<\/td>\n$<\/td>\n19,464,252<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n12,046,722<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n11,887,458<\/td>\n\u00a0<\/td>\n<\/tr>\n
                Goodwill and other intangible assets, net<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(496,118<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(365,975<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(351,455<\/td>\n)<\/td>\n<\/tr>\n
                Tangible assets (Non-GAAP)1<\/sup><\/td>\n[a]<\/td>\n$<\/td>\n18,968,134<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n11,680,747<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n11,536,003<\/td>\n\u00a0<\/td>\n<\/tr>\n
                \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
                \n Total stockholders’ equity (GAAP)<\/strong>\n <\/td>\n\u00a0<\/td>\n$<\/td>\n2,179,606<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,383,269<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,282,651<\/td>\n\u00a0<\/td>\n<\/tr>\n
                Preferred stock and additional paid in capital on preferred stock<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(7,750<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n<\/tr>\n
                Common equity<\/td>\n[b]<\/td>\n\u00a0<\/td>\n2,171,856<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,383,269<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,282,651<\/td>\n\u00a0<\/td>\n<\/tr>\n
                Goodwill and other intangible assets, net<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(496,118<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(365,975<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(351,455<\/td>\n)<\/td>\n<\/tr>\n
                Tangible common equity (Non-GAAP)1<\/sup><\/td>\n[c]<\/td>\n$<\/td>\n1,675,738<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,017,294<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n931,196<\/td>\n\u00a0<\/td>\n<\/tr>\n
                \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
                Tangible common equity to tangible assets (Non-GAAP)1<\/sup><\/td>\n[c\u00f7a]<\/td>\n\u00a0<\/td>\n8.83<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8.71<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8.07<\/td>\n%<\/td>\n<\/tr>\n
                \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
                Ending number of common shares outstanding (GAAP)<\/td>\n[d]<\/td>\n\u00a0<\/td>\n90,008,178<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n56,895,981<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n55,300,008<\/td>\n\u00a0<\/td>\n<\/tr>\n
                Book value per common share (Non-GAAP)<\/td>\n[b\u00f7d]<\/td>\n$<\/td>\n24.13<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n24.31<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n23.19<\/td>\n\u00a0<\/td>\n<\/tr>\n
                Tangible book value per common share (Non-GAAP)<\/td>\n[c\u00f7d]<\/td>\n$<\/td>\n18.62<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n17.88<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n16.84<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

                ___________________________________________<\/p>\n

                  \n
                1. Beginning in 2025, Busey revised its calculation of tangible assets and tangible common equity for all periods presented to exclude any tax adjustment.<\/li>\n<\/ol>\n

                  \n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n
                  \n Core\u00a0Deposits and Related\u00a0Ratio<\/strong>\n <\/td>\n<\/tr>\n
                  \u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n<\/tr>\n
                  \u00a0<\/td>\n\u00a0<\/td>\n\n As of<\/strong>\n <\/td>\n<\/tr>\n
                  \n (dollars in thousands)<\/em>\n <\/td>\n\u00a0<\/td>\n\n March 31,<\/strong>
                  \n
                  \n 2025<\/strong>\n <\/td>\n                  		\n \u00a0<\/strong>\n <\/td>\n\n December 31,<\/strong>
                  \n
                  \n 2024<\/strong>\n <\/td>\n                  		\n \u00a0<\/strong>\n <\/td>\n\n March 31,<\/strong>
                  \n
                  \n 2024<\/strong>\n <\/td>\n<\/tr>\n
                  \n Total deposits (GAAP)<\/strong>\n <\/td>\n[a]<\/td>\n$<\/td>\n16,459,470<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n9,982,490<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n9,960,191<\/td>\n\u00a0<\/td>\n<\/tr>\n
                  Brokered deposits, excluding brokered time deposits of $250,000 or more<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(722,309<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(13,090<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(6,001<\/td>\n)<\/td>\n<\/tr>\n
                  Time deposits of $250,000 or more<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(967,262<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(334,503<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(326,795<\/td>\n)<\/td>\n<\/tr>\n
                  Core deposits (Non-GAAP)<\/td>\n[b]<\/td>\n$<\/td>\n14,769,899<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n9,634,897<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n9,627,395<\/td>\n\u00a0<\/td>\n<\/tr>\n
                  \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
                  Core deposits to total deposits (Non-GAAP)<\/td>\n[b\u00f7a]<\/td>\n\u00a0<\/td>\n89.73<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n96.52<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n96.66<\/td>\n%<\/td>\n<\/tr>\n
                  \u00a0<\/td>\n<\/tr>\n<\/table>\n

                  \n FORWARD-LOOKING STATEMENTS<\/strong>\n <\/p>\n

                  This press release may contain \u201cforward-looking statements\u201d within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to Busey\u2019s financial condition, results of operations, plans, objectives, future performance, and business. Forward-looking statements, which may be based upon beliefs, expectations and assumptions of Busey\u2019s management and on information currently available to management, are generally identifiable by the use of words such as \u201cbelieve,\u201d \u201cexpect,\u201d \u201canticipate,\u201d \u201cplan,\u201d \u201cintend,\u201d \u201cestimate,\u201d \u201cmay,\u201d \u201cwill,\u201d \u201cwould,\u201d \u201ccould,\u201d \u201cshould,\u201d \u201cposition,\u201d or other similar expressions. Additionally, all statements in this document, including forward-looking statements, speak only as of the date they are made, and Busey undertakes no obligation to update any statement in light of new information or future events.<\/p>\n

                  A number of factors, many of which are beyond Busey\u2019s ability to control or predict, could cause actual results to differ materially from those in any forward-looking statements. These factors include, among others, the following: (1)\u00a0the strength of the local, state, national, and international economies and financial markets (including effects of inflationary pressures and supply chain constraints); (2)\u00a0changes in, and the interpretation and prioritization of, local, state, and federal laws, regulations, and governmental policies (including those concerning Busey’s general business); (3)\u00a0the economic impact of any future terrorist threats or attacks, widespread disease or pandemics, or other adverse external events that could cause economic deterioration or instability in credit markets (including Russia\u2019s invasion of Ukraine and the conflict in the Middle East); (4)\u00a0unexpected results of acquisitions, including the acquisition of CrossFirst, which may include the failure to realize the anticipated benefits of the acquisitions and the possibility that the transaction and integration costs may be greater than anticipated; (5)\u00a0the imposition of tariffs or other governmental policies impacting the value of products produced by Busey’s commercial borrowers; (6)\u00a0new or revised accounting policies and practices as may be adopted by state and federal regulatory banking agencies, the Financial Accounting Standards Board, the Securities and Exchange Commission, or the Public Company Accounting Oversight Board; (7)\u00a0changes in interest rates and prepayment rates of Busey\u2019s assets (including the impact of sustained elevated interest rates); (8)\u00a0increased competition in the financial services sector (including from non-bank competitors such as credit unions and fintech companies) and the inability to attract new customers; (9)\u00a0changes in technology and the ability to develop and maintain secure and reliable electronic systems; (10)\u00a0the loss of key executives or associates, talent shortages, and employee turnover; (11)\u00a0unexpected outcomes and costs of existing or new litigation, investigations, or other legal proceedings, inquiries, and regulatory actions involving Busey (including with respect to Busey\u2019s Illinois franchise taxes); (12)\u00a0fluctuations in the value of securities held in Busey\u2019s securities portfolio, including as a result of changes in interest rates; (13)\u00a0credit risk and risk from concentrations (by type of borrower, geographic area, collateral, and industry), within Busey’s loan portfolio and large loans to certain borrowers (including commercial real estate loans); (14)\u00a0the concentration of large deposits from certain clients who have balances above current Federal Deposit Insurance Corporation insurance limits and may withdraw deposits to diversify their exposure; (15)\u00a0the level of non-performing assets on Busey\u2019s balance sheets; (16)\u00a0interruptions involving information technology and communications systems or third-party servicers; (17)\u00a0breaches or failures of information security controls or cybersecurity-related incidents; (18)\u00a0the economic impact on Busey and its customers of climate change, natural disasters, and exceptional weather occurrences such as tornadoes, hurricanes, floods, blizzards, and droughts; (19)\u00a0the ability to successfully manage liquidity risk, which may increase dependence on non-core funding sources such as brokered deposits, and may negatively impact Busey’s cost of funds; (20)\u00a0the ability to maintain an adequate level of allowance for credit losses on loans; (21)\u00a0the effectiveness of Busey\u2019s risk management framework; and (22)\u00a0the ability of Busey to manage the risks associated with the foregoing. These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements.<\/p>\n

                  Additional information concerning Busey and its business, including additional factors that could materially affect Busey\u2019s financial results, is included in Busey\u2019s filings with the Securities and Exchange Commission.<\/p>\n

                  \n END NOTES<\/strong>\n <\/p>\n\n\n\n\n\n\n\n
                  1<\/td>\nAnnualized measure.<\/td>\n<\/tr>\n
                  2<\/td>\nRepresents a non-GAAP financial measure. For a reconciliation to the most directly comparable financial measure calculated and presented in accordance with Generally Accepted Accounting Principles (\u201cGAAP\u201d), see “Non-GAAP Financial Information.\u201d<\/td>\n<\/tr>\n
                  3<\/td>\nThe blended benchmark consists of 60% MSCI All Country World Index and 40% Bloomberg Intermediate US Government\/Credit Total Return Index.<\/td>\n<\/tr>\n
                  4<\/td>\nEstimated uninsured and uncollateralized deposits consist of account balances in excess of the $250\u00a0thousand Federal Deposit Insurance Corporation insurance limit, less intercompany accounts, fully collateralized accounts (including preferred deposits), and pass-through accounts where clients have deposit insurance at the correspondent financial institution.<\/td>\n<\/tr>\n
                  5<\/td>\nOn- and off-balance sheet liquidity is comprised of cash and cash equivalents, debt securities excluding those pledged as collateral, brokered deposits, and Busey\u2019s borrowing capacity through its revolving credit facility, the FHLB, the Federal Reserve Bank, and federal funds purchased lines.<\/td>\n<\/tr>\n
                  6<\/td>\nCapital amounts and ratios for the first quarter of 2025 are not yet finalized and are subject to change.<\/td>\n<\/tr>\n<\/table>\n

                  \n \n <\/p>\n

                  \n INVESTOR CONTACT<\/strong>: Scott A. Phillips, Interim Chief Financial Officer | 239-689-7167<\/p>\n

                  \"\"
                  \n
                  \n \"\"\n <\/div>\n

                  <\/div>\n","protected":false},"excerpt":{"rendered":"

                  LEAWOOD, Kan., April 22, 2025 (GLOBE NEWSWIRE) — First Busey Corporation (Nasdaq: BUSE) reports first quarter results. Busey completed the transformative acquisition of CrossFirst Bankshares, Inc. on March 1, 2025, significantly impacting first quarter results and resetting the baseline for financial performance for future quarters in a multitude of positive ways. Net Income (Loss) Diluted EPS Net Interest Margin1 ROAA1 ROATCE1 $(30.0) million $(0.44) 3.16% (0.82)% (7.99)% $39.9 million (adj)2 $0.57 (adj)2 3.08% (adj)2 1.09% (adj)2 10.64% (adj)2 MESSAGE FROM OUR CHAIRMAN & CEO The transformative partnership between Busey and CrossFirst takes our organization to new heights, combining our growing commercial bank with the power of Busey\u2019s core deposit franchise, wealth management platform, and payment technology solutions at FirsTech, Inc. … <\/p>\n

                  Continue reading “First Busey Corporation Announces 2025 First Quarter Results”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-840324","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nFirst Busey Corporation Announces 2025 First Quarter Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/first-busey-corporation-announces-2025-first-quarter-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"First Busey Corporation Announces 2025 First Quarter Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"LEAWOOD, Kan., April 22, 2025 (GLOBE NEWSWIRE) — First Busey Corporation (Nasdaq: BUSE) reports first quarter results. Busey completed the transformative acquisition of CrossFirst Bankshares, Inc. on March 1, 2025, significantly impacting first quarter results and resetting the baseline for financial performance for future quarters in a multitude of positive ways. Net Income (Loss) Diluted EPS Net Interest Margin1 ROAA1 ROATCE1 $(30.0) million $(0.44) 3.16% (0.82)% (7.99)% $39.9 million (adj)2 $0.57 (adj)2 3.08% (adj)2 1.09% (adj)2 10.64% (adj)2 MESSAGE FROM OUR CHAIRMAN & CEO The transformative partnership between Busey and CrossFirst takes our organization to new heights, combining our growing commercial bank with the power of Busey\u2019s core deposit franchise, wealth management platform, and payment technology solutions at FirsTech, Inc. … Continue reading "First Busey Corporation Announces 2025 First Quarter Results"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/first-busey-corporation-announces-2025-first-quarter-results\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2025-04-22T21:03:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTQzNjg3NCM2ODk5MTIxIzIwMTg5Nzc=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"33 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/first-busey-corporation-announces-2025-first-quarter-results\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/first-busey-corporation-announces-2025-first-quarter-results\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"First Busey Corporation Announces 2025 First Quarter Results\",\"datePublished\":\"2025-04-22T21:03:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/first-busey-corporation-announces-2025-first-quarter-results\\\/\"},\"wordCount\":6507,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/first-busey-corporation-announces-2025-first-quarter-results\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=OTQzNjg3NCM2ODk5MTIxIzIwMTg5Nzc=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/first-busey-corporation-announces-2025-first-quarter-results\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/first-busey-corporation-announces-2025-first-quarter-results\\\/\",\"name\":\"First Busey Corporation Announces 2025 First Quarter Results - 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