XML 37 R27.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Debt Securities (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract] |
Schedule of amortized cost, unrealized gains and losses and fair values of securities classified available for sale and held to maturity | The tables below provide the amortized cost, unrealized gains and losses, and fair values of debt securities summarized by major category (dollars in thousands):
| As of September 30, 2022
| Amortized Cost |  | Unrealized |  | Fair Value
Gross Gains |  | Gross Losses
Debt securities available for sale |  |  |  |  |  |  |
U.S. Treasury securities | $ | 145,495 |  |  | $ | — |  |  | $ | (4,653) |  |  | $ | 140,842 |
Obligations of U.S. government corporations and agencies | 25,287 |  |  | 4 |  |  | (358) |  |  | 24,933 |
Obligations of states and political subdivisions | 298,653 |  |  | 35 |  |  | (27,853) |  |  | 270,835 |
Asset-backed securities | 490,076 |  |  | — |  |  | (23,552) |  |  | 466,524 |
Commercial mortgage-backed securities | 98,719 |  |  | — |  |  | (10,968) |  |  | 87,751 |
Residential mortgage-backed securities | 1,538,308 |  |  | 1 |  |  | (233,995) |  |  | 1,304,314 |
Corporate debt securities | 279,310 |  |  | 20 |  |  | (27,488) |  |  | 251,842 |
Total debt securities available for sale | $ | 2,875,848 |  |  | $ | 60 |  |  | $ | (328,867) |  |  | $ | 2,547,041 |
Debt securities held to maturity |  |  |  |  |  |  |
Commercial mortgage-backed securities | $ | 486,116 |  |  | $ | — |  |  | $ | (60,341) |  |  | $ | 425,775 |
Residential mortgage-backed securities | 450,212 |  |  | — |  |  | (67,102) |  |  | 383,110 |
Total debt securities held to maturity | $ | 936,328 |  |  | $ | — |  |  | $ | (127,443) |  |  | $ | 808,885 |
| As of December 31, 2021
| Amortized Cost |  | Unrealized |  | Fair Value
Gross Gains |  | Gross Losses
Debt securities available for sale |  |  |  |  |  |  |
U.S. Treasury securities | $ | 166,768 |  |  | $ | 41 |  |  | $ | (1,047) |  |  | $ | 165,762 |
Obligations of U.S. government corporations and agencies | 37,579 |  |  | 891 |  |  | — |  |  | 38,470 |
Obligations of states and political subdivisions | 300,602 |  |  | 7,760 |  |  | (1,493) |  |  | 306,869 |
Asset-backed securities | 492,055 |  |  | 295 |  |  | (164) |  |  | 492,186 |
Commercial mortgage-backed securities | 625,339 |  |  | 3,425 |  |  | (13,766) |  |  | 614,998 |
Residential mortgage-backed securities | 2,095,104 |  |  | 8,889 |  |  | (34,680) |  |  | 2,069,313 |
Corporate debt securities | 296,076 |  |  | 1,081 |  |  | (3,504) |  |  | 293,653 |
Total debt securities available for sale | $ | 4,013,523 |  |  | $ | 22,382 |  |  | $ | (54,654) |  |  | $ | 3,981,251 |
Maturities of debt securities | All mortgage-backed securities were issued by U.S. government corporations and agencies (dollars in thousands):
| As of September 30, 2022
| Amortized Cost |  | Fair Value
Debt securities available for sale |  |  |
Due in one year or less | $ | 176,516 |  |  | $ | 174,227 |
Due after one year through five years | 410,372 |  |  | 379,095 |
Due after five years through ten years | 353,968 |  |  | 319,381 |
Due after ten years | 1,934,992 |  |  | 1,674,338 |
Debt securities available for sale | $ | 2,875,848 |  |  | $ | 2,547,041 |
Debt securities held to maturity |  |  |
Due after one year through five years | 46,961 |  |  | 43,738 |
Due after five years through ten years | 65,516 |  |  | 58,346 |
Due after ten years | 823,851 |  |  | 706,801 |
Debt securities held to maturity | $ | 936,328 |  |  | $ | 808,885 |
Gains and losses on debt securities | Realized gains and losses related to sales and calls of debt securities available for sale are summarized as follows (dollars in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Realized gains and losses on debt securities |  |  |  |  |  |  |
Gross gains on debt securities | $ | — |  |  | $ | — |  |  | $ | 114 |  |  | $ | 524 |
Gross (losses) on debt securities | (74) |  | (5) |  | (86) |  | (410)
Realized net gains (losses) on debt securities 1 | $ | (74) |  |  | $ | (5) |  |  | $ | 28 |  |  | $ | 114 |
1.Net gains (losses) on sales of securities reported in the unaudited Consolidated Statements of Income include sales of equity securities, excluded in this table.
Debt securities in an unrealized loss position | The following information pertains to debt securities with gross unrealized losses, aggregated by investment category and the length of time that individual securities have been in a continuous loss position (dollars in thousands):
| As of September 30, 2022
| Less than 12 months |  | 12 months or more |  | Total
| Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
Debt securities available for sale |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities | $ | 2,067 |  |  | $ | (5) |  |  | $ | 138,775 |  |  | $ | (4,648) |  |  | $ | 140,842 |  |  | $ | (4,653) |
Obligations of U.S. government corporations and agencies | 21,629 |  |  | (358) |  |  | — |  |  | — |  |  | 21,629 |  |  | (358) |
Obligations of states and political subdivisions | 220,960 |  |  | (20,029) |  |  | 41,779 |  |  | (7,824) |  |  | 262,739 |  |  | (27,853) |
Asset-backed securities | 441,896 |  |  | (21,681) |  |  | 24,628 |  |  | (1,871) |  |  | 466,524 |  |  | (23,552) |
Commercial mortgage-backed securities | 74,334 |  |  | (8,761) |  |  | 13,417 |  |  | (2,207) |  |  | 87,751 |  |  | (10,968) |
Residential mortgage-backed securities | 557,046 |  |  | (72,807) |  |  | 747,141 |  |  | (161,188) |  |  | 1,304,187 |  |  | (233,995) |
Corporate debt securities | 75,608 |  |  | (9,426) |  |  | 173,266 |  |  | (18,062) |  |  | 248,874 |  |  | (27,488) |
Debt securities available for sale with gross unrealized losses | $ | 1,393,540 |  |  | $ | (133,067) |  |  | $ | 1,139,006 |  |  | $ | (195,800) |  |  | $ | 2,532,546 |  |  | $ | (328,867) |
Debt securities held to maturity |  |  |  |  |  |  |  |  |  |  |
Commercial mortgage-backed securities | $ | 109,085 |  |  | $ | (15,592) |  |  | $ | 316,690 |  |  | $ | (44,749) |  |  | $ | 425,775 |  |  | $ | (60,341) |
Residential mortgage-backed securities | 162,575 |  |  | (29,243) |  |  | 220,535 |  |  | (37,859) |  |  | 383,110 |  |  | (67,102) |
Debt securities held to maturity with gross unrealized losses | $ | 271,660 |  |  | $ | (44,835) |  |  | $ | 537,225 |  |  | $ | (82,608) |  |  | $ | 808,885 |  |  | $ | (127,443) |
| As of December 31, 2021
| Less than 12 months |  | 12 months or more |  | Total
| Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
Debt securities available for sale |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities | $ | 163,653 |  |  | $ | (1,047) |  |  | $ | — |  |  | $ | — |  |  | $ | 163,653 |  |  | $ | (1,047) |
Obligations of states and political subdivisions | 92,680 |  |  | (1,493) |  |  | — |  |  | — |  |  | 92,680 |  |  | (1,493) |
Asset-backed securities | 89,983 |  |  | (164) |  |  | — |  |  | — |  |  | 89,983 |  |  | (164) |
Commercial mortgage-backed securities | 389,078 |  |  | (10,186) |  |  | 85,905 |  |  | (3,580) |  |  | 474,983 |  |  | (13,766) |
Residential mortgage-backed securities | 1,700,187 |  |  | (33,453) |  |  | 20,538 |  |  | (1,227) |  |  | 1,720,725 |  |  | (34,680) |
Corporate debt securities | 241,153 |  |  | (3,504) |  |  | — |  |  | — |  |  | 241,153 |  |  | (3,504) |
Debt securities available for sale with gross unrealized losses | $ | 2,676,734 |  |  | $ | (49,847) |  |  | $ | 106,443 |  |  | $ | (4,807) |  |  | $ | 2,783,177 |  |  | $ | (54,654) |
Additional information about debt securities in an unrealized loss position is presented in the tables below (dollars in thousands):
| As of September 30, 2022
| Available for Sale |  | Held to Maturity |  | Total
Debt securities with gross unrealized losses, fair value | $ | 2,532,546 |  |  | $ | 808,885 |  |  | $ | 3,341,431 |
Gross unrealized losses on debt securities | $ | 328,867 |  |  | $ | 127,443 |  |  | $ | 456,310 |
Ratio of gross unrealized losses to debt securities with gross unrealized losses | 13.0 | % |  | 15.8 | % |  | 13.7 | %
Count of debt securities | 1,145 |  |  | 55 |  |  | 1,200 |
Count of debt securities in an unrealized loss position | 1,109 |  |  | 55 |  |  | 1,164 |
| As of December 31, 2021
| Available for Sale |  | Held to Maturity |  | Total
Debt securities with gross unrealized losses, fair value | $ | 2,783,177 |  |  | $ | — |  |  | $ | 2,783,177 |
Gross unrealized losses on debt securities | $ | 54,654 |  |  | $ | — |  |  | $ | 54,654 |
Ratio of gross unrealized losses to debt securities with gross unrealized losses | 2.0 | % |  | — |  |  | 2.0 | %
Count of debt securities | 1,252 |  |  | — |  |  | 1,252 |
Count of debt securities in an unrealized loss position | 373 |  |  | — |  |  | 373 |

X
- Definition Tabular disclosure of the reconciliation of available-for-sale and held to maturity securities from cost basis to fair value. + References No definition available. + Details
Name: | buse_ScheduleOfAvailableForSaleAndHeldToMaturitySecuritiesReconciliationTableTextBlock
Namespace Prefix: | buse_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of fair value of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), in unrealized loss position, without allowance for credit loss. Includes beneficial interest in securitized financial asset. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 30 -Section 55 -Paragraph 8 -URI https://asc.fasb.org/extlink&oid=121590138&loc=SL82922954-210456 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126970911&loc=d3e27290-111563 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 30 -Section 50 -Paragraph 4 -URI https://asc.fasb.org/extlink&oid=124269663&loc=SL82922888-210455 + Details
Name: | us-gaap_DebtSecuritiesAvailableForSaleUnrealizedLossPositionFairValueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. + References No definition available. + Details
Name: | us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the proceeds from sales of available-for-sale securities and the gross realized gains and gross realized losses that have been included in earnings as a result of those sales. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126970911&loc=d3e27357-111563 + Details
Name: | us-gaap_ScheduleOfRealizedGainLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration