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Operating Segments and Related Information (Tables)

9 Months Ended

Sep. 30, 2021

Operating Segments and Related Information

Summary of information relating to operating segments

Following is a summary of selected financial information for the Company’s operating segments. The “other” category included in the tables below consists of the Parent Company, First Busey Risk Management, and the elimination of intercompany transactions (dollars in thousands):


		Goodwill						Total Assets
		As of						As of
		September 30,			December 31,			September 30,			December 31,
		2021			2020			2021			2020
Operating segment
Banking		$	294,666		$	288,436		$	12,788,398		$	10,462,673
Remittance Processing			8,992			8,992			47,528			46,553
Wealth Management			14,108			14,108			60,496			46,504
Other			—			—			2,908			(11,683)
Consolidated total		$	317,766		$	311,536		$	12,899,330		$	10,544,047



		Three Months Ended September 30,						Nine Months Ended September 30,
		2021			2020			2021			2020
Net interest income
Banking		$	74,672		$	73,330		$	211,377		$	218,221
Remittance Processing			19			21			60			59
Wealth Management			—			—			—			—
Other			(3,936)			(3,598)			(11,247)			(8,281)
Total net interest income		$	70,755		$	69,753		$	200,190		$	209,999

Noninterest income
Banking		$	14,976		$	18,523		$	42,798		$	45,717
Remittance Processing			5,030			4,287			14,700			12,318
Wealth Management			13,746			10,662			39,333			32,681
Other			(493)			(1,187)			884			(2,950)
Total noninterest income		$	33,259		$	32,285		$	97,715		$	87,766

Noninterest expense
Banking		$	59,520		$	44,863		$	150,032		$	135,037
Remittance Processing			4,519			3,523			13,086			9,669
Wealth Management			7,679			6,497			20,961			19,725
Other			1,769			1,659			6,532			5,693
Total noninterest expense		$	73,487		$	56,542		$	190,611		$	170,124

Income before income taxes
Banking		$	31,996		$	41,441		$	114,507		$	93,245
Remittance Processing			530			785			1,674			2,708
Wealth Management			6,068			4,165			18,373			12,956
Other			(6,198)			(6,444)			(16,895)			(16,924)
Total income before income taxes		$	32,396		$	39,947		$	117,659		$	91,985

Net income
Banking		$	25,123		$	31,744		$	89,889		$	72,653
Remittance Processing			384			578			1,214			1,966
Wealth Management			4,719			3,166			14,285			9,847
Other			(4,285)			(4,659)			(11,865)			(12,467)
Total net income		$	25,941		$	30,829		$	93,523		$	71,999