XML 35 R23.htm IDEA: XBRL DOCUMENT v3.21.1

Operating Segments and Related Information

3 Months Ended

Mar. 31, 2021

Operating Segments and Related Information

Operating Segments and Related Information

Note 14: Operating Segments and Related Information

​

The Company has three reportable operating segments: Banking, Remittance Processing, and Wealth Management. The Banking operating segment provides a full range of banking services to individual and corporate customers through its banking center network in Illinois; the St. Louis, Missouri metropolitan area; southwest Florida; and through its banking center in Indianapolis, Indiana. The Remittance Processing operating segment provides solutions for online bill payments, lockbox, and walk-in payments. The Wealth Management operating segment provides a full range of asset management, investment, and fiduciary services to individuals, businesses and foundations, tax preparation, philanthropic advisory services, farms, and brokerage services.

​

The Company’s three operating segments are strategic business units that are separately managed as they offer different products and services and have different marketing strategies. The “other” category consists of the Parent Company, First Busey Risk Management, and the elimination of intercompany transactions.

​

The segment financial information provided below has been derived from information used by management to monitor and manage the financial performance of the Company. The accounting policies of the three segments are the same as those described in the summary of significant accounting policies in “Note 1. Significant Accounting Policies” to the Company’s 2020 Annual Report. The Company accounts for intersegment revenue and transfers at current market value.

​

Following is a summary of selected financial information for the Company’s operating segments (dollars in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Goodwill

​

Total Assets

​

​

As of

​

As of

​

​

March 31,

​

December 31,

​

March 31,

​

December 31,

​

2021

2020

2021

2020

Banking

​

$

288,436

​

$

288,436

​

$

10,674,402

​

$

10,462,673

Remittance Processing

​

8,992

​

8,992

​

46,765

​

46,553

Wealth Management

​

14,108

​

14,108

​

50,392

​

46,504

Other

​

—

​

—

​

(11,996)

​

(11,683)

Totals

​

$

311,536

​

$

311,536

​

$

10,759,563

​

$

10,544,047

​

​	​	​	​	​	​	​
​	​	Three Months Ended March 31,
​		2021			2020
Net interest income:	​	​	​	​	​	​
Banking	​	$	68,455	​	$	71,573
Remittance Processing	​	​	20	​	​	19
Wealth Management	​		—	​		—
Other	​		(3,582)	​		(2,159)
Total net interest income	​	$	64,893	​	$	69,433
​	​	​	​	​	​	​
Non-interest income:	​	​	​	​	​	​
Banking	​	$	12,884	​	$	13,168
Remittance Processing	​		4,861	​		4,069
Wealth Management	​		12,587	​		11,709
Other	​		1,113	​		(1,429)
Total non-interest income	​	$	31,445	​	$	27,517
​	​	​	​	​	​	​
Non-interest expense:	​	​	​	​	​	​
Banking	​	$	42,091	​	$	48,515
Remittance Processing	​	​	4,290	​	​	2,903
Wealth Management	​	​	6,565	​	​	6,974
Other	​	​	1,553	​	​	2,122
Total non-interest expense	​	$	54,499	​	$	60,514
​	​	​	​	​	​	​
Income before income taxes:	​	​	​	​	​	​
Banking	​	$	46,044	​	$	19,010
Remittance Processing	​	​	591	​	​	1,185
Wealth Management	​	​	6,022	​	​	4,735
Other	​	​	(4,022)	​	​	(5,710)
Total income before income taxes	​	$	48,635	​	$	19,220
​	​	​	​	​	​	​
Net income:	​	​	​	​	​	​
Banking	​	$	35,528	​	$	14,924
Remittance Processing	​		429	​		860
Wealth Management	​		4,682	​		3,599
Other	​		(2,823)	​		(4,019)
Total net income	​	$	37,816	​	$	15,364

​

X

- References

No definition available.

+ Details

Name:	us-gaap_SegmentReportingAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Name:	us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration