XML 70 R55.htm IDEA: XBRL DOCUMENT
v3.20.4

Parent Company Only Financial Information (Tables) - Parent | 12 Months Ended
--- | ---
Dec. 31, 2020
Parent Company Only Financial Information |
Balance Sheets | Condensed financial data for First Busey Corporation is presented below (dollars in thousands). ​ BALANCE SHEETS ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of December 31,
​ |  | 2020 |  | 2019
Assets | ​ | ​ | ​ | ​ | ​ | ​
Cash and cash equivalents | ​ | $ | 129,183 | ​ | $ | 14,952
Equity securities | ​ | ​ | 5,530 | ​ | ​ | 5,923
Investments in subsidiaries: | ​ | ​ | ​ | ​ | ​ | ​
Bank | ​ |  | 1,417,130 | ​ |  | 1,417,941
Non-bank | ​ |  | 2,746 | ​ |  | 806
Premises and equipment, net | ​ |  | 51 | ​ |  | 68
Other assets | ​ |  | 21,664 | ​ |  | 13,873
Total assets | ​ | $ | 1,576,304 | ​ | $ | 1,453,563
​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities and Stockholders' Equity | ​ | ​ | ​ | ​ | ​ | ​
Liabilities: | ​ | ​ | ​ | ​ | ​ | ​
Short-term borrowings | ​ | $ | — | ​ | $ | 6,000
Long-term debt | ​ | ​ | — | ​ | ​ | 48,000
Senior notes, net of unamortized issuance costs | ​ | ​ | 39,809 | ​ | ​ | 39,674
Subordinated notes, net of unamortized issuance costs | ​ | ​ | 182,226 | ​ | ​ | 59,248
Junior subordinated debentures owed to unconsolidated trusts | ​ | ​ | 71,468 | ​ | ​ | 71,308
Other liabilities | ​ |  | 12,732 | ​ |  | 8,899
Total liabilities | ​ |  | 306,235 | ​ |  | 233,129
​ | ​ | ​ | ​ | ​ | ​ | ​
Total stockholders' equity | ​ |  | 1,270,069 | ​ |  | 1,220,434
Total liabilities and stockholders' equity | ​ | $ | 1,576,304 | ​ | $ | 1,453,563
Statements of Income |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Years Ended December 31,
​ |  | 2020 |  | 2019 |  | 2018
Operating income: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Dividends from subsidiaries: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Bank | ​ | $ | 122,000 | ​ | $ | 70,000 | ​ | $ | —
Non-bank | ​ |  | — | ​ |  | — | ​ |  | 17,000
Interest income | ​ |  | 154 | ​ |  | 441 | ​ |  | 747
Gain (loss) on equity securities | ​ | ​ | (393) | ​ | ​ | (759) | ​ | ​ | 2,322
Other income | ​ |  | 10,083 | ​ |  | 10,224 | ​ |  | 8,096
Total operating income | ​ |  | 131,844 | ​ |  | 79,906 | ​ |  | 28,165
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Expense: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Salaries, wages, and employee benefits | ​ |  | 16,205 | ​ |  | 15,288 | ​ |  | 13,624
Interest expense | ​ |  | 12,056 | ​ |  | 10,054 | ​ |  | 8,026
Operating expense | ​ |  | 7,685 | ​ |  | 8,960 | ​ |  | 6,051
Total expense | ​ |  | 35,946 | ​ |  | 34,302 | ​ |  | 27,701
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Income (loss) before income tax benefit and equity in undistributed (in excess of) net income of subsidiaries | ​ | ​ | 95,898 | ​ |  | 45,604 | ​ |  | 464
Income tax benefit | ​ |  | 7,727 | ​ |  | 5,389 | ​ |  | 5,013
Income (loss) before equity in undistributed (in excess of) net income of subsidiaries | ​ |  | 103,625 | ​ |  | 50,993 | ​ |  | 5,477
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Equity in undistributed (in excess of) net income of subsidiaries: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Bank | ​ |  | (5,221) | ​ |  | 51,604 | ​ |  | 103,309
Non-bank | ​ |  | 1,940 | ​ |  | 356 | ​ |  | (9,858)
Net income | ​ | $ | 100,344 | ​ | $ | 102,953 | ​ | $ | 98,928
Statements of Cash Flows |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Years Ended December 31,
​ |  | 2020 |  | 2019 |  | 2018
Cash Flows Provided by (Used in) Operating Activities | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income | ​ | $ | 100,344 | ​ | $ | 102,953 | ​ | $ | 98,928
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Depreciation and amortization | ​ |  | 648 | ​ |  | 420 | ​ |  | 232
Distributions more (less) than net income of subsidiaries | ​ |  | 3,281 | ​ |  | (51,961) | ​ |  | (93,451)
Change in fair value of equity securities, net | ​ | ​ | 393 | ​ | ​ | 759 | ​ | ​ | (2,322)
Stock-based compensation | ​ |  | 7,135 | ​ |  | 3,997 | ​ |  | 3,721
Changes in assets and liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(Increase) decrease in other assets | ​ |  | 405 | ​ |  | (4,279) | ​ |  | 13,985
Increase (decrease) in other liabilities | ​ |  | (5,772) | ​ |  | (1,280) | ​ |  | 1,341
Net cash provided by (used in) operating activities | ​ |  | 106,434 | ​ |  | 50,609 | ​ |  | 22,434
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash Flows Provided by (Used in) Investing Activities | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Purchases of equity securities | ​ | ​ | — | ​ | ​ | (520) | ​ | ​ | —
Net cash paid for business acquisition | ​ | ​ | — | ​ | ​ | (90,722) | ​ | ​ | —
Purchases of premises and equipment | ​ |  | (19) | ​ |  | (31) | ​ |  | (46)
Net cash provided by (used in) investing activities | ​ |  | (19) | ​ |  | (91,273) | ​ |  | (46)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash Flows Provided by (Used in) Financing Activities | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Proceeds from charter amendment with subsidiary bank | ​ |  | — | ​ |  | — | ​ |  | 40,000
Cash paid for withholding taxes on stock-based payments | ​ |  | (635) | ​ |  | (863) | ​ |  | (817)
Cash dividends paid | ​ |  | (48,012) | ​ |  | (45,171) | ​ |  | (39,010)
Repayments of borrowings | ​ | ​ | (74,000) | ​ | ​ | (6,000) | ​ | ​ | (5,500)
Proceeds from issuance of debt | ​ | ​ | 142,634 | ​ | ​ | 60,000 | ​ | ​ | —
Proceeds from stock options exercised | ​ | ​ | 101 | ​ | ​ | 169 | ​ | ​ | —
Purchase of treasury stock | ​ | ​ | (12,272) | ​ | ​ | (24,292) | ​ | ​ | —
Common stock issuance costs | ​ | ​ | — | ​ | ​ | (234) | ​ | ​ | —
Net cash provided (used in) by financing activities | ​ |  | 7,816 | ​ |  | (16,391) | ​ |  | (5,327)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net increase (decrease) in cash and cash equivalents | ​ |  | 114,231 | ​ |  | (57,055) | ​ |  | 17,061
Cash and cash equivalents, beginning of period | ​ |  | 14,952 | ​ |  | 72,007 | ​ |  | 54,946
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash and cash equivalents, ending of period | ​ | $ | 129,183 | ​ | $ | 14,952 | ​ | $ | 72,007

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | srt_CondensedFinancialStatementsCaptionsLineItems
Namespace Prefix: | srt_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
Name: | srt_ScheduleOfCondensedBalanceSheetTableTextBlock
Namespace Prefix: | srt_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed cash flow statement, including, but not limited to, cash flow statements of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
Name: | srt_ScheduleOfCondensedCashFlowStatementTableTextBlock
Namespace Prefix: | srt_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed income statement, including, but not limited to, income statements of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
Name: | srt_ScheduleOfCondensedIncomeStatementTableTextBlock
Namespace Prefix: | srt_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | srt_ConsolidatedEntitiesAxis=srt_ParentCompanyMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |