EX-99.2 3 tm2034308d1_ex99-2.htm EXHIBIT 99.2

Exhibit 99.2

| 3Q20QUARTERLY EARNINGS SUPPLEMENT October 27th, 2020

| Statements made in this document, other than those concerning historical financial information, may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to the financial condition, results of operations, plans, objectives, future performance and business of the Company. Forward-looking statements, which may be based upon beliefs, expectations and assumptions of the Company’s management and on information currently available to management, are generally identifiable by the use of words such as “believe,” “expect,” “anticipate,” “plan,” “intend,” “estimate,” “may,” “will,” “would,” “could,” “should” or other similar expressions. Additionally, all statements in this document, including forward-looking statements, speak only as of the date they are made, and the Company undertakes no obligation to update any statement in light of new information or future events. A number of factors, many of which are beyond the Company’s ability to control or predict, could cause actual results to differ materially from those in the Company’s forward-looking statements. These factors include, among others, the following: (i) the strength of the local, state, national and international economy (including the impact of the 2020 presidential election and the impact of tariffs, a U.S. withdrawal from or significant negotiation of trade agreements, trade wars and other changes in trade regulations); (ii) the economic impact of any future terrorist threats or attacks, widespread disease or pandemics (including the COVID-19 pandemic in the United States), or other adverse external events that could cause economic deterioration or instability in credit markets; (iii) changes in state and federal laws, regulations and governmental policies concerning the Company’s general business; (iv) changes in accounting policies and practices, including CECL, which changed how the Company estimates credit losses; (v) changes in interest rates and prepayment rates of the Company’s assets (including the impact of The London Inter-bank Offered Rate phase-out); (vi) increased competition in the financial services sector and the inability to attract new customers; (vii) changes in technology and the ability to develop and maintain secure and reliable electronic systems; (viii) the loss of key executives or associates; (ix) changes in consumer spending; (x) unexpected results of current and/or future acquisitions, which may include failure to realize the anticipated benefits of any acquisition and the possibility that the transaction costs may be greater than anticipated; (xi) unexpected outcomes of existing or new litigation involving the Company; and (xii) the economic impact of exceptional weather occurrences such as tornadoes, hurricanes, floods, and blizzards. These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. Additional information concerning the Company and its business, including additional factors that could materially affect its financial results, is included in the Company’s filings with the Securities and Exchange Commission.

| This document contains financial information determined other than in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Management uses these “non-GAAP” measures in its analysis of the Company’s performance. Management also believes that these non-GAAP financial measures allow for better comparability of period to period operating performance. Additionally, the Company believes this information is utilized by regulators and market analysts to evaluate a company’s financial condition, and therefore, such information is useful to investors. These disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. A reconciliation of the non-GAAP measures used in this document to the most directly comparable GAAP measures is provided beginning on page 32 of this document. For more details on the Company’s non-GAAP measures, refer to the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 and the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2020.

| Appendix: Use of Non-GAAP Financial Measures32

| Company OverviewBranch Map •150+ year old bank headquartered in Champaign, IL •Full service community bank serving Illinois, St. Louis, Indianapolis, and Southwest Florida markets •Diversified lending portfolio across real estate, commercial, and retail products •Named among Forbes’ 2019 Best-In-State Banks—one of five in Illinois •Numerous, repeat “Best Places to Work” awards in all states in which it operates •First Busey’s vision is focused around 4 pillars: 1. Associates3. Communities 2. Customers4. Shareholders •First Busey works to preserve the Busey legacy – a legacy of associate excellence, customer service, community involvement and expanding shareholder value Primary Business SegmentsFinancial Highlights Commercial Banking • Illinois state chartered bank, organized in 1868 • Bank offers full suite of diversified financial products and services for consumers and businesses • 68 branch locations, serving four state footprint Wealth Management • Provides premier wealth and asset management services for individuals and businesses • $9.50bn Assets Under Care Retail Payment Processing • Provides comprehensive and innovative payment processing capabilities • Solutions tailored for online, mobile, walk-in, CSR, direct debit, lockbox, auto phone pay, VerID • 27 million transactions per year $ in millions 201 8 201 9 9/30/20 YT D Total Assets $7,702 $9,696 $10,540 Total Loans (Exc. HFS) 5,568 6,687 7,121 Total Deposits 6,249 7,902 8,643 Total Equity 995 1,220 1,256 NPA/Assets 0.48% 0.34% 0.28% NIM 3.45% 3.38% 3.02% Core PPNR ROAA(1 ) 1.86% 1.76% 1.74% Core ROAA(1 ) 1.34% 1.25% 0.97% Core ROATCE(1 ) 15.9% 14.5% 11.5%

| Banking the intersection of commercial and wealth Business Investment Advisory Business Solutions Commercial Lending Business Saving Services Business Checking Services Merchant Services Solutions Personal Online Banking Credit and Debit Cards Checking Services Consumer Loans Mortgage Banking Investment Services Investment Management Financial Goals Private Client Business Planning Custom Consulting Lockbox Processing Payment Concentrator Processing Verid Payment Solutions Walk-In Payments Online Bill Payments Mobile Payments Mobile Banking Direct Debit 6

| v'c:Oiu: Previousannounced brandl autiolidation was completed on Odober 23, 2020. Exhibits abDYe depia the First Bus eyfrandlis e subsequent to the completion ofthase branch das ures.

| Experienced Management Team Van A. Dukeman Chairman, President & Chief Executive Officer, First Busey Corporation Has served as President & CEO of First Busey since 2007. Mr. Dukeman was President & CEO of Main Street Trust from 1998 until its merger with First Busey in 2007. In addition to his role as President & CEO, Mr. Dukeman became Chairman of the Holding Company Board effective July 22. Mr. Dukeman’s 40 years of diverse financial services experience and extensive board involvement throughout his career brings a conservative operating philosophy and a management style that focus on Busey’s associates, customers, communities and shareholders. Highly experienced board with nearly 150 years of combined director experience Management aligned with shareholders (insider ownership of 8.3%) Amy L. Randolph Chief of Staff & EVP of Pillar Relations Robin N. Elliott President & CEO, Busey Bank Joined Busey in 2006 and led various finance functions prior to serving as CFO/COO and now Bank President/CEO. Mr. Elliott has played instrumental roles in executing various strategic and growth initiatives. Before joining Busey, Mr. Elliott worked for various national public accounting firms, including Ernst & Young. Jeffrey D. Jones EVP & CFO Joined Busey in August 2019, bringing his nearly 20 years of investment banking and financial services experience to Busey. Mr. Jones previously served as Managing Director and Co-Head of Financial Institutions at Stephens Inc. Mr. Jones began his career in the Banking Supervision and Regulation division of the Federal Reserve. Robert F. Plecki, Jr. EVP, Chief Credit Officer Joined Busey in 1984 and has served as Chief Credit Officer of First Busey since March 2010. Mr. Plecki previously served as President & CEO of Busey Wealth Management, COO, and EVP of the Florida and Champaign market. Prior to the 2007 merger with First Busey, Bob served in various management roles at Main Street Trust. John J. Powers EVP & General Counsel Monica L. Bowe EVP & Chief Risk Officer

| Attractive Franchise • Established in 1868, with more than 150 years of commitment to local communities and businesses • Operating with 68 branches across four states: Illinois, Missouri, Indiana, and Florida (1) • Experienced and proven management team • Attractive and diverse business strategy with premier commercial bank, wealth management, and payment processing solutions for individuals and businesses Sound Growth Strategy • Drive organic growth through regional operating model with highly aligned commercial and wealth relationship focused strategies in key markets of operation • Leverage track record as proven successful acquirer to expand through disciplined M&A High Quality Loan Portfolio • Strengths in commercial & industrial, commercial real estate, and residential real estate lending • Highly diversified loan portfolio without material loan concentrations • Strong asset quality and continued firm-wide commitment to upholding high standards of credit quality • NPL/Loans of 0.38% and Reserves/NPLs of 409% (excludes PPP loans; as of 9/30/20) Strong Core Deposits • Attractive core deposit to total deposit ratio (97%) (2) • Low cost of total deposits (28 bps) and cost of non-time deposits (9 bps) in Q3 2020 Strong Capital and Liquidity Position • GAAP and regulatory capital levels significantly in excess of well-capitalized requirements • Remains substantially core deposit funded, with a low loan-to-deposit ratio • High quality, short duration securities portfolio and asset sensitive balance sheet Diversified Revenue Attractive Profitability and Returns • Significant revenue derived from diverse and complimentary fee income sources • Noninterest income/operating revenue of 32% MRQ and 30% LTM • Core Pre-Provision Net Revenue ROAA 1.74% YTD and 1.81% Q3 2020(3) • Core ROAA & ROATCE 0.97% and 11.52% YTD and 1.22% and 14.81% Q3 2020(3) • Core Adjusted Efficiency Ratio 49.97% Q3 2020(3) • 3Q20 Core EPS $0.60(3) and quarterly dividend of $0.22 (4.86% yield)(4) (1) Branch count includes branch closures completed on October 23, 2020 (2) Core Deposits include non-brokered transaction accounts, money market deposit accounts, and time deposits of $250,000 or less

| Robust Capital Foundation Resilient Loan Portfolio Strong Core Deposit Franchise & Ample Liquidity • Capital ratios significantly in excess of well-capitalized minimums • Regulatory capital relief on CECL implementation and PPP loans • TCE/TA ratio of 8.88% at 9/30/20(1) • Total RBC of 16.59% at 9/30/20 • TBV per share of $16.32 at 9/30/20, up 7.9% year-over-year • Diversified portfolio, conservatively underwritten with low levels of concentration • NPAs/Assets: 0.28%Classified Assets/Capital: 9.6% • Substantial reserve build under CECL → ACL/Loans: 1.55%(2) ACL/NPLs: 408.82% • Significant decline in commercial loans in active deferral/modification from 23.1% of total ex-PPP commercial loan portfolio at June 30, 2020 to 3.7% at October 21, 2020 • 100 / 300 Test: 38% C&D224% CRE • Robust holding company and bank-level liquidity • Strong core deposit franchise –82.4% loan-to-deposit ratio, 97.1% core deposits (3) • Borrowings accounted for less than 3.3% of total funding at 9/30/20 • $2.6 billion in cash & securities (72% of securities portfolio unpledged) • Substantial sources of off-balance sheet contingent funding ($3.4 billion) (1) Non-GAAP calculation, see Appendix (2) Excluding amortized cost of PPP loans

| Tangible Common Equity Ratio (1) Leverage Ratio (2) $ in m illion s $ in m illion s 8.4% 9.5%9.3%9.2% 8.4% 8.9% 9.8% 10.4%9.9%9.9% 9.4%9.4% $638$703 $865$864$905 $718$784 $922$922$941$964 4% 2017 Q42018 Q42019 Q42020 Q12020 Q22020 Q3 2017 Q42018 Q42019 Q42020 Q12020 Q22020 Q3 $ in m illion s TCETCE Ratio $ in m illion s 16.2%16.6% Tier 1 CapitalLeverage RatioMin Ratio Consolidated Capital as of 9/30/2020 (2) $ in millions 14.2% 14.8% 14.0%13.9% $298$291 $461$487 Total Capital Ratio Tier 1 Capital Ratio Common Equity Tier 1 Ratio $246$291 $592$603 $739$756$739$739 Current Ratio16.6%13.1%12.1% Minimum Well Capitalized Ratio10.0%8.0%6.5% Amount of Capital1,226964890 Well Capitalized Minimum739591480 Excess Amount over Well-Capitalized487373410 2017 Q42018 Q42019 Q42020 Q12020 Q22020 Q3 Well Cap MinExcess over M inTotal Capital Ra tio (1)Non-GAAP calculation, see Appendix

| Loan Portfolio Composition as of 09/30/2020 Loan Portfolio Geographic Segmentation (1) HELO ther 0% Florida 5% 5% 1-4 Family Resident 16% Construction Development 6% Commercial & Industrial 32% Illinois 65% Missouri 25% Indiana 5% Non-Owner Occupied CRE 28% Owner Occupied CRE 13% Funded Draws & Line Utilization Rate (2) Total Loan Portfolio = $7.1 billion MRQ Yield on Loans = 3.86% Total Loan Portfolio (ex-PPP) = $6.4 billion MRQ Yield on Loans (ex-PPP) = 3.93% $2,084 58% $2,044 57% $2,020 56% $1,945 $1,924 $1,855 54% 54% $1 1 52% 53% 3/31/20 4/30/20 5/29/20 6/30/20 7/31/20 8/31/20 9/30/20 (1)Based on loan origination (2)Excludes Credit Card and Overdraft Protection Funded Draws % Utilized 12

| C&I Portfolio Overview ▪24% of total loan portfolio (ex-PPP loans) $ in thousands C&I Loans by Sector (ex-PPP) ▪Diversified portfolio results in low levels of concentrated exposure NAICS Sector 9/30/20 Balances (ex-PPP) % of Total Loans (ex-PPP) 9/30/20 Classified Loans ▪Top concentration in one industry (manufacturing) is 16%, or 4% of total loans ▪Only 3% of loans are classified ▪No material exposure to oil & gas ▪Decline in C&I loans outstanding Q2 to Q3 largely driven by decreased line utilization Total C&I Loans (1) $ in m illion s $1,748 $1,767 $1,668 $1,680 $1,629 $1,545 2019 Q2 2019 Q3 2019 Q4 2020 Q1 2020 Q2 2020 Q3 Manufacturing$244,5073.8%$12,942 Finance and Insurance$183,5592.9%$0 Educational Services$157,5362.5%$927 Wholesale Trade$150,3032.4%$983 Real Estate Rental & Leasing$147,9972.3%$1,034 Construction$115,5801.8%$3,446 Agriculture, Forestry, Fishing and Hunting$107,1271.7%$2,199 Health Care and Social Assistance$99,0401.6%$165 Public Administration$70,7281.1%$0 Retail Trade$66,1851.0%$1,053 Transportation$38,5490.6%$2,867 Professional, Scientific, and Technical Services$36,7040.6%$8,825 Food Services and Drinking Places$36,2400.6%$766 Other Services (except Public Administration)$29,3790.5%$84 Administrative and Support Services$20,0300.3%$3,763 Information$10,8830.2%$0 Arts, Entertainment, and Recreation$10,8100.2%$2,106 Accommodation$7,5730.1%$0 Management of Companies and Enterprises$7,0610.1%$0 Waste Management Services$3,5310.1%$0 Mining, Quarrying, and Oil and Gas Extraction$1,7180.0%$0 Warehousing and Storage$2890.0%$0 Utilities$1880.0%$0 Grand Total$1,545,51724.2%$41,159 (1) (ex-PPP) loan totals include purchase accounting, FASB, overdrafts, etc. 13

| Loan Portfolio: Low Levels of Concentrated Exposure $ in thousands Manufacturing Loans Subsector 9/30/20 Balances (ex-PPP) % of Total Loans (ex-PPP) 10/21/20 Active Deferral Balances 9/30/20 Classified Balances % of Category Classified 9/30/20 PPP Balances Transportation Equipment Manufacturing $55,135 0.9% $0 $1,395 2.5% $2,310 Machinery Manufacturing $54,300 0.9% $0 $224 0.4% $13,492 Food Manufacturing $49,803 0.8% $33 $1,599 3.2% $11,013 Miscellaneous Manufacturing $18,565 0.3% $491 $0 0.0% $7,678 Fabricated Metal Product Manufacturing $14,137 0.2% $0 $112 0.8% $8,148 Printing and Related Support Activities $9,329 0.1% $285 $0 0.0% $5,007 Primary Metal Manufacturing $9,113 0.1% $7,035 $0 0.0% $4,173 Chemical Manufacturing $7,202 0.1% $0 $0 0.0% $2,460 Textile Product Mills $5,899 0.1% $0 $3,560 60.3% $6,384 Electrical Equipment, Appliance, and Component $4,651 0.1% $0 $0 0.0% $3,357 Beverage and Tobacco Product Manufacturing $4,520 0.1% $0 $3,086 68.3% $1,769 Plastics and Rubber Products Manufacturing $3,782 0.1% $0 $626 16.6% $1,344 Computer and Electronic Product Manufacturing $2,916 0.0% $0 $2,287 78.4% $3,000 Nonmetallic Mineral Product Manufacturing $2,143 0.0% $0 $0 0.0% $968 Furniture and Related Product Manufacturing $1,068 0.0% $0 $53 5.0% $723 Leather and Allied Product Manufacturing $755 0.0% $0 $0 0.0% $71 Paper Manufacturing $573 0.0% $0 $0 0.0% $1,373 Wood Product Manufacturing $348 0.0% $0 $0 0.0% $2,329 Apparel Manufacturing $258 0.0% $0 $0 0.0% $519 Textile Mills $12 0.0% $0 $0 0.0% $0 Petroleum and Coal Products Manufacturing $0 0.0% $0 $0 0.0% $349 Grand Total $244,507 3.8% $7,845 $12,942 5.3% $76,467 Million or 3.8% of Loan Portfolio (ex-PPP loans) 5.3% Classified Loans Diversified exposure across 21 industry subsectors results in no single level of high concentration No subsector accounts for more than 1% of the total portfolio 14

| High Quality Loan Portfolio: CRE $ in thousands Owner Occupied CRE Loans by Industry Investor Owned CRE Loans by Industry (1) Property Type 9/30/20 Balances (ex-PPP) % of Total Loans (ex-PPP) 9/30/20 Classified Loan Balances Property Type 9/30/20 Balances (ex-PPP) % of Total Loans (ex-PPP) 9/30/20 Classified Loan Balances Retail CRE $476,689 7.5% $651 Apartments $470,917 7.4% $1,247 Student Housing $320,646 5.0% $4,470 Office CRE $276,831 4.3% $2,532 Industrial/Warehouse $221,160 3.5% $9 Hotel $168,762 2.6% $1,879 Senior Housing $130,353 2.0% $0 Specialty CRE $81,951 1.3% $57 Land Acquisition & Dev. $80,702 1.3% $2,603 Nursing Homes $67,353 1.1% $5,626 Restaurant CRE $33,404 0.5% $1,926 1-4 Family $19,012 0.3% $305 Continuing Care Facilities $14,685 0.2% $0 Other CRE $25,539 0.4% $236 Grand Total $2,388,005 37.4% $21,541 Specialty CRE $244,579 3.8% $7,099 Office CRE $196,126 3.1% $1,019 Retail CRE $81,113 1.3% $1,830 Restaurant CRE $70,101 1.1% $3,959 Continuing Care $3,856 0.1% $0 Nursing Homes $2,112 0.0% $0 Hotel $1,393 0.0% $0 Apartments $361 0.0% $0 Student Housing $113 0.0% $0 Other CRE $25,723 0.4% $964 Grand Total $921,067 14.4% $25,706 Multifamily - Apartments & Student Housing by State •61.6% Weighted Avg. LTV •$47.1MM as of 10/21/20 in Active Deferral •60.3% are long-term Busey customers (4+ yrs) •0.7% Classified Loans in Segment (1) Investor owned CRE includes C&D, Multi-family and non-owner occupied CRE CRE Portfolio Overview ▪52% of total loan portfolio ▪28% of CRE loans are owner-occupied ▪Only 1.4% of total CRE loans and 0.9% of non-owner occupied CRE loans are classified ▪Low Levels of Concentrated Exposure ▪Retail CRE top concentration at 17% of total CRE portfolio 15

| $ in thousands Retail Trade & Retail CRE Loans Retail Type 9/30/20 Balances (ex-PPP) % of Total Loans (ex-PPP) 10/21/20 Active Deferral Balances Weighted Avg LTV % of Classified Loans in Segment 9/30/20 PPP Balances Strip Center $286,536 4.5% $25,173 67.5% 0.1% $0 Single Tenant $97,009 1.5% $2,238 54.2% 1.9% $0 Mixed Use - Retail $78,211 1.2% $5,414 61.2% 0.3% $0 Retail Trade (C&I) $66,185 1.0% $0 1.6% $47,829 Shopping Center $55,851 0.9% $0 45.8% 0.0% $0 Community Retail Center $40,195 0.6% $0 50.7% 0.0% $0 Grand Total $623,987 9.8% $32,825 60.7% 0.6% $47,829 Total Retail Loans: $624 million or 9.8% of Loan Portfolio Traveler Accommodation Loans Hotel - Large Chain 66% Other 2% Hotel - Boutique 28% Hotel Ops. (C&I) 4% Hotel - Full Service Large Chain $59,382 0.9% $932 61.8% 0.0% $0 Hotel - Limited Service Large Chain $57,448 0.9% $1,566 60.1% 0.0% $0 Hotel - Full Service Boutique $40,113 0.6% $0 66.4% 0.0% $0 Hotel - Limited Service Boutique $10,279 0.2% $8,755 54.7% 0.0% $0 Hotel Operations (C&I) $7,512 0.1% $0 0.0% $4,994 Mixed Use - Hotel/Motel $2,247 0.0% $0 49.0% 83.6% $0 Motel CRE $686 0.0% $0 37.7% 0.0% $0 RV Parks and Campgrounds (C&I) $61 0.0% $0 0.0% $47 Bed-and-Breakfast Inns $0 0.0% $0 0.0% $18 Rooming and Boarding Houses $0 0.0% $0 0.0% $21 9/30/20 Balances (ex-PPP) % of Total Loans (ex-PPP) 10/21/20 Active Deferral Balances Weighted Avg LTV % of Classified Loans in Segment 9/30/20 PPP Balances Grand Total $177,728 2.8% $11,253 61.6% 1.1% $5,079 Total Traveler Accommodation Loans: $178 Million or 2.8% of Loan Portfolio

| $ in thousands Food Services Loans Food Services 9/30/20 Balances (ex-PPP) % of Total Loans (ex-PPP) 10/21/20 Active Deferral Balances Weighted Avg LTV % of Classified Loans in Segment 9/30/20 PPP Balances Full-Service Restaurant CRE $68,316 1.1% $11,886 60.0% 8.6% $0 Limited-Service Restaurant CRE $35,189 0.6% $4,417 73.4% 0.0% $0 Limited-Service Restaurant Operations $21,755 0.3% $640 0.1% $9,252 Full-Service Restaurant Operations $13,163 0.2% $0 5.7% $25,385 Drinking Place Operations $1,011 0.0% $0 0.0% $1,668 Snack and Nonalcoholic Beverage Bars $138 0.0% $0 0.0% $464 Caterer Operations $112 0.0% $0 0.0% $517 Mobile Food Services $62 0.0% $0 0.0% $22 Cafeterias, Grill Buffets, and Buffets $0 0.0% $0 0.0% $14 Food Service Contractors $0 0.0% $0 0.0% $414 Grand Total $139,745 2.2% $16,942 64.4% 4.8% $37,736 Total Food Services Loans: $140 Million or 2.2% of Loan Portfolio Agriculture Loans Other Indiana 1% 6% Geographic Collateral Location by State 9/30/20 Balances (ex-PPP) % of Total Loans (ex-PPP) 10/21/20 Active Deferral Balances Weighted Avg LTV % of Classified Loans in Segment % of L-Term Customers (4+ Y ears) Illinois 93% Illinois $81,061 1.3% $0 42.5% 0.8% 85.9% Indiana $2,183 0.0% $0 46.3% 0.0% 100.0% Other State $755 0.0% $0 36.7% 0.0% 100.0% Missouri $474 0.0% $0 43.4% 0.0% 50.0% Total Farmland $84,473 1.3% $0 42.6% 0.8% 86.0% Illinois $41,253 0.6% $0 42.5% 3.8% 91.0% Indiana $5,349 0.1% $0 46.3% 0.0% 100.0% Total Farm Operating Line $46,601 0.7% $0 42.6% 3.4% 91.0% Grand Total $131,074 2.1% $0 42.6% 1.7% 87.5% Total Agriculture Loans: $131 Million or 2.1% of Loan Portfolio

| Commercial and Small Business Clients ▪Busey offered several options to Busey’s qualifying business customers to help them through this period of economic disruption. Various six-month modification programs with opt-ins from the customer in 90-day intervals were available, including a 90-day deferral of principal & interest or interest only payment options Commercial Payment Relief Program ($ in thousands) 10/21/20 10/21/20 % of All Deferral % of 6/30/20 6/30/20 % of # of Loans $ Balanc es Balanc es T otal # of Loans $ Balanc es T otal Total Commercial Loans: 7,937 $5,055,713 8,305 $5,096,211 All Loans that took a deferral: Full Payment Deferrals 746$812,238 70.56% 16.07% 769$822,595 Interest-Only Deferrals 367$338,917 29.44% 6.70% 355$355,981 Total Loans that took a Deferral Option 1,113 $1,151,155 22.77% 1,124 $1,178,577 23.13% Loans that opted into a deferral extension: 90-Day Full Pmt Deferrals that opted into 180-Days 279$365,603 45.01% 90-Day I/O Deferrals that opted into 180-Days 55$87,980 25.96% Total Loans that opted into a deferral extension 334 $453,583 39.40% 8.97% Loans currently in the Payment Relief Program: Ac tive Full Pmt Deferrals 102$96,361 Ac tive I/O Deferrals 53$92,939 A Total Active Deferral Loans 155 $189,300 16.44% 3.74% B Expired Payment Relief, regular pmt not yet received 53 $78,995 6.86% 1.56% C Exited Payment Relief Program 905 $882,860 76.69% 17.46% Loans c urrently in the Payment Relief Program (A) 155 $189,300 Loans no longer in deferral (B + C) 958 $961,855 1,113 $1,151,155

| Personal Loan and Mortgage Customers Retail Payment Relief Program ($ in thousands) Mortgage & Retail portfolio loans (1) 10/15/20 # of Loans 10/15/20 $ Balanc es Total Portfolio Loans21,534$1,215,144 All Loans that took a deferral (A + B)980$132,601 4/1/20 $ Balanc es A Deferred Loans that Paid Off68$8,549 % of 10/15/20 % of T otal $ Balanc es T otal (1) Table above does not include loans serviced by third parties. As of September 30, 2020, there were $110.8 million of total outstanding balance in such loans, of which $5.7 million had received a deferral with only $0.5 million remaining under active deferral.

| Small Business Applications & Loan Funding ▪As part of the CARES Act, Congress appropriated approximately $349 billion for the creation of the Paycheck Protection Program (PPP) as well as approving on April 24, 2020 an additional $310 billion for the PPP. This program provides payroll assistance for the nation’s nearly 30 million small businesses - and select nonprofits - in the form of 100% guaranteed loans from the U.S. Small Business Administration (SBA) ▪Busey was a bridge for this program and actively helped its customers sign up for this important financial resource Summary Impact I ndustry PPP Balances # of PPP Loans Average Loan Size % of Total PPP Loans Construction $140,425 504 $279 18.7% ▪ $749.4 million PPP loans Health Care and Social Assistance $103,594 522 $198 13.8% outstanding as of 9/30/2020Manufacturing $76,467 284 $269 10.2% Professional, Scientific, and Technical Services $74,416 514 $145 9.9% ▪ 4,569 total loans processed Wholesale Trade $51,346 184 $279 6.9% ▪Over 85,000 jobs impactedRetail Trade $47,829 354 Other Services (except Public Administration) $47,119 537 ▪Generated fees of approximatelyReal Estate Rental & Leasing $39,133 335 $25.4 millionFood Services and Drinking Places $37,736 335 $135 6.4% $88 6.3% $117 5.2% $113 5.0%

| Overview ▪Conservative underwriting and strong asset quality allowed the Company to enter the economic downturn well-prepared ▪Non-performing assets have decreased over time while total assets have increased significantly $ in m illion s NPAs / Assets 9,696 10,540 ▪Strong reserve levels as provisioning under CECL reflects deteriorating economic conditions and expectations for credit stress to emerge in future periods 7,8617,702 0.48% 0.36% 0.34%0.28% ▪Significant decline in loan deferral/modification from 23.1% of total ex-PPP commercial loan portfolio at June 30, 2020 to 3.7% at October 21, 2020 2017 Q42018 Q42019 Q42020 Q3 Assets%NPAs /Ass et s Classifieds / Capital (1) NCOs / Average Loans(2) $ in m illion s $ in m illion s $790 $854 $1,099 $1,119 $4,567 $5,534 $6,470 $7,012 14.7% 14.3% 9.7% 9.6% -0.01% 0.13%0.11%0.14% 2017 Q4 2018 Q4 2019 Q4 2020 Q3 Capital Class ified/Capital (1) Capital calculated as Busey Bank Tier 1 Capital + Allowance for loan losses (2) 9/30/2020 NCOs/Average Loans is annualized (quarterly NCO ratio is 0.04%) 2017201820192020 Q3 YTD Avg LoansNCOs/Avg Loan s

| Current Expected Credit Loss (CECL) Model ▪On January 1, 2020, the Company adopted ASU 2016-13 (Topic 326), “Measurement of Credit Losses on Financial Instruments,” commonly referenced as the CECL model. Upon adoption of CECL, we recognized: -$16.8 million increase in our allowance for credit losses, substantially attributable to the remaining loan fair value marks on prior acquisitions -$5.5 million increase in our reserve for unfunded commitments (carried in other liabilities) -Total Day 1 increase of 41.54% over 12/31/19 reserve balance -These one-time increases, net of tax, were $15.9 million and recorded as an adjustment to beginning retained earnings ▪During the first quarter of 2020, the Company recorded provision for credit losses of $17.2 million and provision for unfunded commitments of $1.0 million primarily as a result of economic factors around COVID-19 ▪During the second quarter of 2020, the Company recorded provision for credit losses of $12.9 million and provision for unfunded commitments of $0.6 million ▪During the third quarter of 2020, the Company recorded provision for loan losses of $5.5 million and provision for unfunded commitments of $0.3 million. -While our portfolio has not yet demonstrated material indications of weakness, provisioning under CECL reflects deteriorating economic conditions and expectations for credit stress to emerge in future periods -Cumulative increase through 9/30/20 of 97.53% over 12/31/19 reserve balance -Ongoing impacts of the CECL methodology will be dependent upon changes in economic conditions and forecasts, originated and acquired loan portfolio composition, credit performance trends, portfolio duration, and other factors ▪Increase in allowance for credit losses moves allowance for credit losses as a percentage of total loans to 1.55% at 9/30/20 (excludes PPP loans) and allowance for credit losses as a percentage of non-performing loans to 408.82%

| Allowance / Loans (ex-PPP) Allowance / NPLs $ in m illion s 1.55% $ in t h ou sa nds $36,598 $5,520$5,568 $6,687 $6,385 $27,365 $29,507 409% $24,177 0.97% 0.91% 0.80% 196% 182% 2017 Q42018 Q42019 Q42020 Q3 Ex-PPP Loans (EOM )Ex-PPP Allowa nce/L oans 138% 2017 Q42018 Q42019 Q42020 Q3 NPL sAllowance/NPLs Allowance / NPAs Provision Coverage / Net Charge-offs $ in t h ou sa nds $28,648 $36,974 $32,564 339% $29,155 187% 137% 165% N/A(1) 0.6x 1.4x 4.8x 2017 Q42018 Q42019 Q42020 Q3 FY 2017FY 2018FY 20192020 Q3 YTD NPAsAllowance/NPAs Provision Multiple (1) 4Q17 provision expense was $5.303 million and net recoveries were $0.484 million

| 2020 Q3 Average Deposit Composition Total Deposits & Loan to Deposit Ratio $ in m illion s C > 250k CD < 250k 12% $ in m illion s 90.8%88.7% $72$7,973 $8,910$8,643 MMDA 29% Non-Int DDA 30% Int DDA 26% $6,126$6,249 84.8%84.6%81.1%82.4% 2020 Q3 Average Cost of Deposits = 0.28% 2020 Q3 Average Cost of Non-Time Deposits = 0.09% Contingency Liquidity as of 9/30/20 $ in m illion s Unpledged Securities $1,507 Av ailable FHLB $1,545 2017 Q42018 Q42019 Q42020 Q12020 Q22020 Q3 Total Depos itsLoan to Depos it Ra tio Core Deposits(1) / Total Deposits $ in m illion s $8,595 $8,392 $7,587 $7,624 FRB Discount $477 Fed Funds Lines $467 Brokered Av ailability (1 0% deposits) $862 T otal $4,858 $5,600 $5,705 91.4% 91.3% 96.0% 95.6% 96.5% 97.1% 2017 Q4 2018 Q4 2019 Q4 2020 Q1 2020 Q2 2020 Q3 Core Deposit sCore/Total Deposits (1) Core Deposits include non-brokered transaction accounts, money market deposit accounts, and time deposits of $250,000 or less 24

| Net-Interest Income • Net Interest Income declined 1.4% from $70.8 million in Q2 to $69.8 million in Q3 • Net Interest Margin decreased 17 bps vs Q2 from 3.03% to 2.86% • Core NIM ex-accretion income declined 18 bps from 2.93% to 2.75% • Accretion income accounted for 11 bps of NIM, up from 10bps in Q2 • NIM impacted by repricing dynamics in the low rate environment, excess liquidity resulting from stimulus, PPP related funding and seasonal peak in public funds in 3Q20, as well as a full quarter impact of the $125mm sub-debt issuance on June 1, 2020 • 21 bps decline in asset yields offset by 5 bps improvement in funding costs Non-Interest Income Non-Interest Expense Earnings • Non-interest income of $32.3 million in Q3, equated to 32% of operating revenue • Wealth Management revenue up 3.4% linked quarter with assets under management up 5.3% to $9.5 billion • Mortgage revenue of $5.8 million in Q3 increased from $2.7 million Q2. The increase in Q3 was due to stronger gain on sale margin • Fees for customer services were $8.0 million in Q3, an increase from $7.0 million in Q2 • Core non-interest expenses (excluding one-time acquisition and restructuring related items) of $54.0 million in 3Q20 • Core adjusted non-interest expenses (excluding intangible amortization, one-time and unfunded provision expense) of $51.3 million in 3Q20, equating to 49.7% core adjusted efficiency ratio(1) • $6.8 million decrease in quarterly run rate of core adjusted expenses(1) since 3Q19 implies 11.7% reduction in core expense base, including $5.5 million or 9.7% since 1Q20 • Core, adjusted pre-provision net revenue of $48.7 million (1.81% PPNR ROAA) (1) • Core net income of $32.8 million or $0.60 per share (1) • 1.22% Core ROAA and 14.8% Core ROATCE (1)

| Core Net Income & Earnings Per Share (1) Core ROAA & ROATCE (1) $ in thousands $29,498 $30,535 $31,782 $26,191 $32,803 14.5%14.5%14.9% 1.30% 1.24%1.25% 12.2% 14.8% 1.22% $0.53 $0.55 $0.57 $15,479 $0.48 $0.60 7.4% 1.02% $0.28 0.64% 2019 Q2 2019 Q3 2019 Q4 2020 Q1 2020 Q2 2020 Q3 Core Net Income Earnings Per Share 2019 Q22019 Q32019 Q42020 Q12020 Q22020 Q3 Core ROATCECore ROAA Core Pre-Provision Net Revenue / Avg. Assets (1) Net Interest Margin $ in thousands $42,823 $43,600 $41,131 $38,211 $46,448 $48,701 4.27%4.18% Earning Assets Yield 3.88% 3.43% 3.35%3.20% 3.47% 3.03% 3.26% 1.80% 1.79% 1.80% 1.81% Net Interest Margin 2.86% 1.68% 1.59% 0.88%0.87% 0.16% Cost of Funds 0.72% 0.47%0.42% 2019 Q2 2019 Q3 2019 Q4 2020 Q1 2020 Q2 2020 Q3 0.14% Accretion 0.13%0.10%0.11% Core PPN R Core PPN R / Avg As sets 2019 Q22019 Q32019 Q42020 Q12020 Q22020 Q3 Earning A ssetsCost of FundsNIMAccretion (1) Non-GAAP calculation, see Appendix

| Net Interest Income & Net Interest Margin 74.3 • Net impact of PPP loans and corresponding excess liquidity drove down NIM 4 bps linked quarter 3.0 3.35% 72.7 3.0 3.27% 70.2 2.8 3.20% 71.5 2.5 3.03% 70.4 2.6 2.86% • Subordinated debt issuance of $125mm on June 1, 2020 impacted NIM linked quarter by 7 bps Net Interest Margin Components (ex-PPP) & Sub-debt 2019 Q3 2019 Q4 2020 Q1 2020 Q2 2020 Q3 Earning Assets * 3.38% TE Net Interest Income Accretion TE NIM Historical Key Rates Cost of Liabilities * -0.39% 5.50% 2.39% 5.00% 2.02% 4.75% 1.92% 3.25% 3.25% 3.25% PPP & Excess Liquidity Sub Debt -0.04% -0.07% Dilutive linked quarter effect of PPP loan funding & deposit retention Dilutive linked quarter effect of June 1st Sub-debt Issuance 2.00% 1.68% 1.76% 0.99% 0.70% 0.67% 0.72% 0.17% 0.15% Net Interest Margin 2.86% 6/30/19 9/30/19 12/31/19 3/31/20 6/30/20 9/30/20 -1.00%0.00%1.00%2.00%3.00%4.00% Prime 1m LIBOR 10-Yr Treasury * Earning Assets and Cost of Liabilities (ex-PPP) and Sub-debt issuance

| Diversified and Significant Sources of Fee Income Overview ▪Resilient, varied and complimentary sources $ in m illion s Non-Interest Income / Total Revenue of fee income provide revenue diversification with heightened value amidst cycle of margin compression ▪Fee income represented 32% of operating revenue in 3Q20 up from 28% in 2Q20 and $101.3 $104.4 $103.6 $97.0 $98.8 $102.0 32% 30% over the last 12 months ▪Key businesses of wealth management and payment processing contributed 45% of fee income in 3Q20 ▪Mortgage revenue increased from $2.7 million in 2Q20 to $5.8 million in 3Q20 28% 30% 31% 28% 28% $27.9 $30.9 $31.6 $27.5 $28.0 $32.3 2019 Q2 2019 Q3 2019 Q4 2020 Q1 2020 Q2 2020 Q3 Non-Interest Income Net Interest Income Non-Int Inc / Total Income $ in thousands Sources of Non-Interest Income Net Security Non-Interest Income Details 2020 Q3 (Losses) -1% Other Non-Wealth Management Fees $10,548 Fees for Customer Services $8,014 Remittance Processing $3,995 Mortgage Revenue $5,793 Income on Bank Owned Life Insurance $1,022 Net Security (Losses) ($426) Other Non-Interest Income $3,339 Income on Bank Owned Life Insurance 3% Mortgage Revenue 18% Interest Income 10% Wealth Management Fees 32% Fees for Total Non-Interest Income $32,285 Processing 12% Customer Services 24% 28

| $ in millions $9,409 Wealth - Assets Under Care $9,696 $8,925$9,021 $9,503 Overview ▪Provides a full range of asset management, investment and fiduciary services to individuals, businesses and foundations, tax preparation, philanthropic advisory services and farm and brokerage services 2019 Q32019 Q42020 Q12020 Q22020 Q3 Wealth - Revenue & Pre-tax Income Q3 2020 Summary ▪Wealth revenue of $10.7 million in 3Q20, an 18.5% increase over 3Q19 ▪Wealth pre-tax net income of $4.2 million in 3Q20, a 41% increase over 3Q19 ▪Assets under care increased to $9.5 billion $ in thousands $8,994 $11,354 $11,709 $10,310 $10,662 in 3Q20, within 2% of the high-water mark at 4Q19 32.8% $2,951 36.8% $4,176 40.4% 39.3%39.1% $4,735 $4,056$4,165 ▪Strong quarter for new assets funded, with $194 million up from $52 million in 2Q20 ▪YTD Pre-tax profit margin of approximately 40% in the Wealth Management segment 2019 Q32019 Q42020 Q12020 Q22020 Q3 RevenuePre-Tax Net IncomePre-Tax Profit Margin

| $68,121 $2,360 Non-Interest Expense $65,490 $2,681 Overview ▪The Company continues to drive significant expense reductions to offset the current no growth, low rate environment $7,670 $3,652 $58,091 $59,157 $60,514 $2,557 $145 $1,017 $56,795 $53,068 $2,519 $487 $567 $49,495 $56,542 $2,493 $2,529 $250 $51,270 ▪Delivering substantial efficiency ratio improvement in spite of margin compression Q3 2020 Summary ▪Core adjusted expenses(1) of $51.3 million in 3Q20 excluding amortization, acquisition / restructuring related charges and $0.3 million 62.7% One-time Non-Recurring Expenses Intangible Amortiza tion 2019 Q3 2019 Q4 2020 Q1 2020 Q2 2020 Q3 Core Adjusted Expen ses Unfunded Provision 60.5% provision for unfunded commitments (ex-CECL) ▪$6.8 million decrease in quarterly run rate of core adjusted expenses(1) since 3Q19 implies 11.7% reduction in core expense base, including $5.5 million or 9.7% since 1Q20 55.4% 57.0% 59.7%59.5% 58.5% 51.0% 50.5% 49.9% 52.4% 50.0%49.7% ▪Total deferred PPP loan origination costs reduced reported non-interest expense in the second quarter of 2020 by $4.9 million ▪The anticipated impact of incremental initiatives are discussed on the following page (1)Non-GAAP calculation, see Appendix

| Overview of Bank Initiatives ▪After careful consideration and analysis, the Company decided in July 2020 to consolidate 12 branches to ensure a balance between the Company’s physical banking center network and robust digital banking services. These 12 banking centers closed on October 23, 2020 ▪Operating model reorganization aligns with the Company’s continued efforts to transition to a regional operating model that enhances sales organization alignment across key business lines and improves efficiencies 1,595 Full-Time Equivalents (FTE) 1,5311,5071,480 (1) Financial Impact Summary ▪Anticipate annualized pre-tax non-interest expense savings of approximately $3.6 million resulting from the operating model reorganization 1,371 1,316 ▪Non-operating pretax expenses in relation 2020 Q4* ▪Proforma 2020 Q4 FTE count based on remaining reductions in force expected to occur during 4Q20 ▪Headcount is expected to have been reduced 17.5% from 3Q19 to 4Q20 ▪Non-operating pretax expenses in relation to branch closings were $0.6 million during Q3 2020 with an additional $0.1 million expected in Q4 2020 ▪Additional one-time expenses related to disposition of banking centers estimated to be in the range of $7 million to $7.5 million

| 32 APPENDIX 32

| ($ in thousands) Three Months Ended Adjuste d: p re-p rovision net revenue $ 48,701 $ 46,448 $ 38,211 $ 41,131 $ 43,600 Ave rage total asse ts $ 10,680,995$ 10,374,820$ 9,688,177$ 9,713,858$ 9,659,769

| ($ in thousands) Thre e Months Ende d (Unaudited results) S e pte mbe r 30, June 30, March 31, De ce mbe r 31, S e pte mbe r 30, 20202020 2020 2019 2019 Re porte d: Net Int erest income $69,753$70,813$69,433$71,936$73,476 T ax-equivalent adjust ment 638717730781778 T ax-equivalent int erest income $70,391$71,530$70,163$72,717$74,254 Re porte d: Non-int erest income 32,28527,96427,51731,63830,936 Less net losses/gains on sales of securit ies and unrealiz ed losses/gains recogniz ed on equit y securit ies 426(315)(587)(605)(361) Adjuste d: Non-int erest income $32,711$27,649$26,930$31,033$30,575 Re porte d: Non-int erest exp ense 56,54253,06860,51465,49068,121 Amort iz at ion of int angible asset s(2,493) (2,519) (2,557) (2,681) (2,360) Non-op erat ing adjust ment s: Salaries, wages, and emp loy ee benefit s (2,011) (346) — (405) (3,855) Dat a p rocessing — — — (1,368) (256) Ot her (518) (141) (145) (1,879) (3,559) Adjuste d: Non-int erest exp ense $51,520$50,062$57,812$59,157$58,091 Re porte d: Efficiency rat io 52.42 %50.97 %59.69 %60.54 %62.73 % Adjuste d: Efficiency rat io 49.97 %50.48 %59.54 %57.02 %55.42 % As of and for the Thre e Months Ende d S eptember 30, June 30, 20202020 March 31, 2020 December 31, 2019 S eptember 30, 2019 Total Assets $ 10,539,628 $ 10,835,965 $ 9,721,405 $ 9,695,729 $ 9,753,760 Goodwill and other intangible assets, net (365,960) (368,053) (370,572) (373,129) (381,323) Tax effect of other intangible assets, net 15,239 15,825 16,530 17,247 16,415 Tangible assets $ 10,188,907 $ 10,483,737 $ 9,367,363 $ 9,339,847 $ 9,388,852 Total stockholders’ equity 1,255,705 1,236,084 1,217,585 1,220,434 1,215,981 Goodwill and other intangible assets, net (365,960) (368,053) (370,572) (373,129) (381,323) Tax effect of other intangible assets, net 15,239 15,825 16,530 17,247 16,415 Tangible common equity $ 904,984 $ 883,856 $ 863,543 $ 864,552 $ 851,073 Ending number of common shares outstanding 54,522,231 54,516,000 54,401,208 54,788,772 55,197,277 Tangible common equity to tangible assets(1) 8.88 % 8.43 % 9.22 % 9.26 % 9.06 % Tangible book value per share $ 16.32 $ 15.92 $ 15.57 $ 15.46 $ 15.12 Average stockholders’ common equity $ 1,248,448 $ 1,233,270 $ 1,218,160 $ 1,224,447 $ 1,212,833 Average goodwill and other intangible assets, net (367,490) (369,699) (372,240) (379,268) (377,601) Average tangible stockholders’ common equity $ 880,958 $ 863,571 $ 845,920 $ 845,179 $ 835,232 Reported: Return on average tangible common equity (2)13.92 % 12.02 % 7.30 % 13.41 % 11.79 % Adjusted: Return on average tangible common equity (2)(3)14.81 % 12.20 % 7.36 % 14.92 % 14.50 % (1) Tax-effected measure (2) Annualized measure