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Regulatory Capital | 9 Months Ended
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Sep. 30, 2022
Banking and Thrift, Other Disclosure [Abstract] |
Regulatory Capital | Regulatory Capital The Company and its subsidiary bank are subject to various regulatory capital requirements administered by federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory—and possibly additional discretionary—actions by regulators that, if undertaken, could have a direct material effect on the Company's consolidated financial statements. Capital amounts and classification also are subject to qualitative judgments by regulators about components, risk weightings, and other factors. Banking regulations identify five capital categories for insured depository institutions: well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized, and critically undercapitalized. As of September 30, 2022, and December 31, 2021, all capital ratios of the Company and its subsidiary bank exceeded well capitalized levels under the applicable regulatory capital adequacy guidelines. Management believes that no events or changes have occurred subsequent to September 30, 2022, that would change this designation. Current Expected Credit Loss Model On March 27, 2020, the FDIC and other federal banking agencies published an interim final rule that provides those banking organizations adopting CECL during 2020 with the option to delay for two years the estimated impact of CECL on regulatory capital and to phase in the aggregate impact of the deferral on regulatory capital over a subsequent three-year period. On August 26, 2020, the CECL final rule was finalized and was substantially similar to the interim final rule. Under this final rule, because the Company has elected to use the deferral option, the regulatory capital impact of our transition adjustments recorded on January 1, 2020, arising from the adoption of CECL was deferred for two years, until January 1, 2022. In addition, 25 percent of the ongoing impact of CECL on our ACL, retained earnings, and average total consolidated assets from January 1, 2020, through the end of the two-year deferral period, each as reported for regulatory capital purposes, has been added to the deferred transition amounts (“adjusted transition amounts”) and deferred for the two-year period. At the conclusion of the two-year period the adjusted transition amounts began to be phased-in for regulatory capital purposes at a rate of 25 percent per year, with the phased-in amounts included in regulatory capital at the beginning of each year. Changes in Capital Relating to Subordinated Debt On May 25, 2017, the Company issued $60.0 million of fixed-to-floating rate subordinated notes that were scheduled to mature on May 25, 2027. The full balance of the subordinated note qualified as Tier 2 Capital for First Busey for the first five years, with a phase out beginning in the second quarter of 2022. The subordinated notes had an optional redemption in whole or in part on any interest payment date on or after May 25, 2022, and the Company redeemed them in full during the third quarter of 2022. On June 2, 2022, the Company issued $100.0 million aggregate principal amount of 5.000% fixed-to-floating rate subordinated notes that mature on June 15, 2032, which qualify as Tier 2 Capital for regulatory purposes. Capital Amounts and Ratios The following tables summarize regulatory capital requirements applicable to the Company and its subsidiary bank (dollars in thousands):
| As of September 30, 2022
| Actual |  | Minimum Capital Requirement |  | Minimum To Be Well Capitalized
| Amount |  | Ratio |  | Amount |  | Ratio |  | Amount |  | Ratio
Common Equity Tier 1 Capital to Risk Weighted Assets |  |  |  |  |  |  |  |  |  |  |
Consolidated | $ | 1,056,206 |  |  | 11.79 | % |  | $ | 403,047 |  |  | 4.50 | % |  | $ | 582,179 |  |  | 6.50 | %
Busey Bank | $ | 1,288,945 |  |  | 14.45 | % |  | $ | 401,307 |  |  | 4.50 | % |  | $ | 579,665 |  |  | 6.50 | %
Tier 1 Capital to Risk Weighted Assets |  |  |  |  |  |  |  |  |  |  |
Consolidated | $ | 1,130,206 |  |  | 12.62 | % |  | $ | 537,396 |  |  | 6.00 | % |  | $ | 716,528 |  |  | 8.00 | %
Busey Bank | $ | 1,288,945 |  |  | 14.45 | % |  | $ | 535,076 |  |  | 6.00 | % |  | $ | 713,434 |  |  | 8.00 | %
Total Capital to Risk Weighted Assets |  |  |  |  |  |  |  |  |  |  |
Consolidated | $ | 1,431,308 |  |  | 15.98 | % |  | $ | 716,528 |  |  | 8.00 | % |  | $ | 895,660 |  |  | 10.00 | %
Busey Bank | $ | 1,365,046 |  |  | 15.31 | % |  | $ | 713,434 |  |  | 8.00 | % |  | $ | 891,793 |  |  | 10.00 | %
Leverage Ratio of Tier 1 Capital to Average Assets |  |  |  |  |  |  |  |  |  |  |
Consolidated | $ | 1,130,206 |  |  | 9.15 | % |  | $ | 494,124 |  |  | 4.00 | % |  | N/A |  | N/A
Busey Bank | $ | 1,288,945 |  |  | 10.47 | % |  | $ | 492,534 |  |  | 4.00 | % |  | $ | 615,668 |  |  | 5.00 | %
| As of December 31, 2021
| Actual |  | Minimum Capital Requirement |  | Minimum To Be Well Capitalized
| Amount |  | Ratio |  | Amount |  | Ratio |  | Amount |  | Ratio
Common Equity Tier 1 Capital to Risk Weighted Assets |  |  |  |  |  |  |  |  |  |  |
Consolidated | $ | 995,874 |  |  | 11.85 | % |  | $ | 378,334 |  |  | 4.50 | % |  | $ | 546,482 |  |  | 6.50 | %
Busey Bank | $ | 1,241,303 |  |  | 14.81 | % |  | $ | 377,096 |  |  | 4.50 | % |  | $ | 544,695 |  |  | 6.50 | %
Tier 1 Capital to Risk Weighted Assets |  |  |  |  |  |  |  |  |  |  |
Consolidated | $ | 1,069,874 |  |  | 12.73 | % |  | $ | 504,445 |  |  | 6.00 | % |  | $ | 672,594 |  |  | 8.00 | %
Busey Bank | $ | 1,241,303 |  |  | 14.81 | % |  | $ | 502,795 |  |  | 6.00 | % |  | $ | 670,394 |  |  | 8.00 | %
Total Capital to Risk Weighted Assets |  |  |  |  |  |  |  |  |  |  |
Consolidated | $ | 1,320,187 |  |  | 15.70 | % |  | $ | 672,594 |  |  | 8.00 | % |  | $ | 840,742 |  |  | 10.00 | %
Busey Bank | $ | 1,306,616 |  |  | 15.59 | % |  | $ | 670,394 |  |  | 8.00 | % |  | $ | 837,992 |  |  | 10.00 | %
Leverage Ratio of Tier 1 Capital to Average Assets |  |  |  |  |  |  |  |  |  |  |
Consolidated | $ | 1,069,874 |  |  | 8.52 | % |  | $ | 502,336 |  |  | 4.00 | % |  | N/A |  | N/A
Busey Bank | $ | 1,241,303 |  |  | 9.91 | % |  | $ | 501,104 |  |  | 4.00 | % |  | $ | 626,379 |  |  | 5.00 | %
Capital Conservation Buffer In July 2013, U.S. federal banking authorities approved the Basel III Rule for strengthening international capital standards. The Basel III Rule introduced a capital conservation buffer, composed entirely of Common Equity Tier 1 Capital, which is added to the minimum risk-weighted asset ratios. The capital conservation buffer is not a minimum capital requirement; however, banking institutions with a ratio of Common Equity Tier 1 Capital to risk-weighted assets below the capital conservation buffer will face constraints on dividends, equity repurchases, and discretionary bonus payments based on the amount of the shortfall. In order to refrain from restrictions on dividends, equity repurchases, and discretionary bonus payments, banking institutions must maintain minimum ratios of (i) Common Equity Tier 1 Capital to risk-weighted assets of at least 7.0%, (ii) Tier 1 Capital to risk-weighted assets of at least 8.5%, and (iii) Total capital to risk-weighted assets of at least 10.5%.

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- Definition The entire disclosure for regulatory capital requirement for depository and lending institutions. Institutions include, but not are not limited to, finance company, insured depository institution, bank holding company, savings and loan association holding company, bank and savings institution not federally insured, mortgage company, foreign financial institution and credit union. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1F -URI https://asc.fasb.org/extlink&oid=117337116&loc=SL5958575-112826 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -Subparagraph (c)(2) -URI https://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1A -URI https://asc.fasb.org/extlink&oid=117337116&loc=SL5958569-112826 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -Subparagraph (a)(2) -URI https://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -Subparagraph (a)(1) -URI https://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1D -URI https://asc.fasb.org/extlink&oid=117337116&loc=SL5958573-112826 + Details
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