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v3.19.1

Regulatory Capital | 3 Months Ended
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Mar. 31, 2019
Regulatory Capital |
Regulatory Capital | Note 11: Regulatory Capital The Company and the subsidiary banks are subject to various regulatory capital requirements administered by federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory—and possibly additional discretionary—actions by regulators that, if undertaken, could have a direct material effect on the Company's financial statements. The capital amounts and classification also are subject to qualitative judgments by the regulators about components, risk weightings and other factors. Banking regulations identify five capital categories for insured depository institutions: well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized and critically undercapitalized. As of March 31, 2019 and December 31, 2018, all capital ratios of the Company and the subsidiary banks exceeded the well capitalized levels under the applicable regulatory capital adequacy guidelines. Management believes that no events or changes have occurred subsequent to March 31, 2019 that would change this designation. The following tables summarize the applicable holding company and bank regulatory capital requirements (dollars in thousands):
|  |  |  |  |  |  |  |  |  | Minimum |
|  |  |  |  |  |  | Minimum |  |  | To Be Well |
| Actual |  |  | Capital Requirement |  |  | Capitalized |
| Amount |  | Ratio |  |  | Amount |  | Ratio |  |  | Amount |  | Ratio |
As of March 31, 2019: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total Capital (to Risk Weighted Assets) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consolidated | $ | 1,009,053 |  | 13.95 | % |  | $ | 578,555 |  | 8.00 | % |  | $ | 723,194 |  | 10.00 | %
Busey Bank | $ | 882,181 |  | 14.49 | % |  | $ | 487,119 |  | 8.00 | % |  | $ | 608,899 |  | 10.00 | %
TheBANK | $ | 190,105 |  | 16.78 | % |  | $ | 90,646 |  | 8.00 | % |  | $ | 113,308 |  | 10.00 | %
Tier 1 Capital (to Risk Weighted Assets) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consolidated | $ | 898,138 |  | 12.42 | % |  | $ | 433,917 |  | 6.00 | % |  | $ | 578,555 |  | 8.00 | %
Busey Bank | $ | 831,371 |  | 13.65 | % |  | $ | 365,340 |  | 6.00 | % |  | $ | 487,119 |  | 8.00 | %
TheBANK | $ | 190,000 |  | 16.77 | % |  | $ | 67,985 |  | 6.00 | % |  | $ | 90,646 |  | 8.00 | %
Common Equity Tier 1 Capital (to Risk Weighted Assets) |  |  |  |  |  |  |  |  |  |  |  |  |
Consolidated | $ | 824,138 |  | 11.40 | % |  | $ | 325,438 |  | 4.50 | % |  | $ | 470,076 |  | 6.50 | %
Busey Bank | $ | 831,371 |  | 13.65 | % |  | $ | 274,005 |  | 4.50 | % |  | $ | 395,785 |  | 6.50 | %
TheBANK | $ | 190,000 |  | 16.77 | % |  | $ | 50,989 |  | 4.50 | % |  | $ | 73,650 |  | 6.50 | %
Tier 1 Capital (to Average Assets) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consolidated | $ | 898,138 |  | 10.55 | % |  | $ | 340,417 |  | 4.00 | % |  |  | N/A |  | N/A |
Busey Bank | $ | 831,371 |  | 11.25 | % |  | $ | 295,723 |  | 4.00 | % |  | $ | 369,654 |  | 5.00 | %
TheBANK | $ | 190,000 |  | 11.10 | % |  | $ | 68,472 |  | 4.00 | % |  | $ | 85,589 |  | 5.00 | %
|  |  |  |  |  |  |  |  |  | Minimum |
|  |  |  |  |  |  | Minimum |  |  | To Be Well |
| Actual |  |  | Capital Requirement |  |  | Capitalized |
| Amount |  | Ratio |  |  | Amount |  | Ratio |  |  | Amount |  | Ratio |
As of December 31, 2018: |  |
Total Capital (to Risk Weighted Assets) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consolidated | $ | 894,572 |  | 14.83 | % |  | $ | 482,638 |  | 8.00 | % |  | $ | 603,297 |  | 10.00 | %
Busey Bank | $ | 854,351 |  | 14.19 | % |  | $ | 481,701 |  | 8.00 | % |  | $ | 602,126 |  | 10.00 | %
Tier 1 Capital (to Risk Weighted Assets) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consolidated | $ | 783,924 |  | 12.99 | % |  | $ | 361,978 |  | 6.00 | % |  | $ | 482,638 |  | 8.00 | %
Busey Bank | $ | 803,703 |  | 13.35 | % |  | $ | 361,276 |  | 6.00 | % |  | $ | 481,701 |  | 8.00 | %
Common Equity Tier 1 Capital (to Risk Weighted Assets) |  |  |  |  |  |  |  |  |  |  |  |  |
Consolidated | $ | 709,924 |  | 11.77 | % |  | $ | 271,484 |  | 4.50 | % |  | $ | 392,143 |  | 6.50 | %
Busey Bank | $ | 803,703 |  | 13.35 | % |  | $ | 270,957 |  | 4.50 | % |  | $ | 391,382 |  | 6.50 | %
Tier 1 Capital (to Average Assets) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consolidated | $ | 783,924 |  | 10.36 | % |  | $ | 302,704 |  | 4.00 | % |  |  | N/A |  | N/A |
Busey Bank | $ | 803,703 |  | 10.64 | % |  | $ | 302,232 |  | 4.00 | % |  | $ | 377,789 |  | 5.00 | %
In July 2013, the U.S. federal banking authorities approved the Basel III Rule for strengthening international capital standards. The Basel III Rule introduced a capital conservation buffer, composed entirely of Common Equity Tier 1 Capital (“CET1”), which is added to the minimum risk-weighted asset ratios. The capital conservation buffer is not a minimum capital requirement; however, banking institutions with a ratio of CET1 to risk-weighted assets below the capital conservation buffer will face constraints on dividends, equity repurchases and discretionary bonus payments based on the amount of the shortfall. In order to refrain from restrictions on dividends, equity repurchases and discretionary bonus payments, banking institutions must maintain minimum ratios of (i) CET1 to risk-weighted assets of at least 7.0%, (ii) Tier 1 capital to risk-weighted assets of at least 8.5%, and (iii) Total capital to risk-weighted assets of at least 10.5%. The ability of the Company to pay cash dividends to its stockholders and to service its debt was historically dependent on the receipt of cash dividends from its subsidiaries. Under applicable regulatory requirements, an Illinois state-chartered bank such as Busey Bank may not pay dividends in excess of its net profits. Because Busey Bank had been in an accumulated deficit position since 2009, it was not able to pay dividends in prior years. With prior approval from its regulators, however, an Illinois state-chartered bank in that situation was able to reduce its capital stock by amending its charter to decrease the authorized number of shares, and then make a subsequent distribution to its holding company. Using this approach, and with the approval of its regulators, Busey Bank has distributed funds to the Company, the most recent of which was $40.0 million on October 12, 2018. Busey Bank returned to positive retained earnings in the second quarter of 2018. Busey Bank will return to paying dividends in 2019.

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- Definition The entire disclosure for banks, savings institutions, and credit unions, for regulatory capital requirements imposed by the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the Office of Thrift Supervision (OTS) or for any state imposed capital requirements, as applicable. The disclosure may include (1) a description of regulatory capital requirements (a) for capital adequacy purposes and (b) established by the prompt corrective action provisions of Section 38 of the Federal Depository Insurance Act; (2) the actual or possible material effects of noncompliance with such requirements; (3) whether the entity is in compliance with the regulatory capital requirements including (a) required and actual ratios and amounts of Tier 1 leverage, Tier 1 risk-based, and total risk-based capital, tangible capital (for savings institutions), and Tier 3 capital for market risk (for certain banks and bank holding companies), (b) factors that may significantly affect capital adequacy; (4) the prompt corrective action category in which the entity was classified as of its most recent notification; (5) whether management believes any conditions or events since notification have changed the entity's category. Also may include additional information that might be disclosed in situations where substantial doubt about the entity's ability to continue as a going concern for a reasonable period of time. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1G -URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958577-112826 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1C -URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958572-112826 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1E -URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958574-112826 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1H -URI http://asc.fasb.org/extlink&oid=84167132&loc=d3e65071-112826 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958569-112826 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958570-112826 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1F -URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958575-112826 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958568-112826 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1D -URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958573-112826 + Details
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