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OPERATING SEGMENTS AND RELATED INFORMATION (Tables) | 12 Months Ended
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Dec. 31, 2023
Segment Reporting [Abstract] |
Summary of information relating to operating segments | Following is a summary of selected financial information for Busey’s operating segments. The “other” category included in the tables below consists of the parent company, First Busey Risk Management until its dissolution on December 18, 2023, and the elimination of intercompany transactions (dollars in thousands):
| Goodwill |  | Total Assets
| As of December 31, |  | As of December 31,
| 2023 |  | 2022 |  | 2023 |  | 2022
Operating segment |  |  |  |  |  |  |
Banking | $ | 294,773 |  |  | $ | 294,773 |  |  | $ | 12,125,298 |  |  | $ | 12,199,960 |
Wealth Management | 14,108 |  |  | 14,108 |  |  | 103,147 |  |  | 84,082 |
FirsTech | 8,992 |  |  | 8,992 |  |  | 51,600 |  |  | 48,715 |
Other | — |  |  | — |  |  | 3,370 |  |  | 3,920 |
Consolidated total | $ | 317,873 |  |  | $ | 317,873 |  |  | $ | 12,283,415 |  |  | $ | 12,336,677 |
|  |  | Years Ended December 31,
|  |  |  |  | 2023 |  | 2022 |  | 2021
Net interest income |  |  |  |  |  |  |  |  |
Banking |  |  |  |  | $ | 335,345 |  |  | $ | 340,083 |  |  | $ | 285,678 |
FirsTech |  |  |  |  | 54 |  |  | 65 |  |  | 79 |
Other |  |  |  |  | (15,948) |  |  | (16,710) |  |  | (15,059) |
Total net interest income |  |  |  |  | $ | 319,451 |  |  | $ | 323,438 |  |  | $ | 270,698 |
Noninterest income |  |  |  |  |  |  |  |  |
Banking |  |  |  |  | $ | 46,701 |  |  | $ | 54,154 |  |  | $ | 59,393 |
Wealth Management |  |  |  |  | 57,823 |  |  | 55,394 |  |  | 53,082 |
FirsTech |  |  |  |  | 22,746 |  |  | 21,720 |  |  | 19,629 |
Other |  |  |  |  | (4,886) |  |  | (4,465) |  |  | 700 |
Total noninterest income |  |  |  |  | $ | 122,384 |  |  | $ | 126,803 |  |  | $ | 132,804 |
Noninterest expense |  |  |  |  |  |  |  |  |
Banking |  |  |  |  | $ | 223,451 |  |  | $ | 221,997 |  |  | $ | 205,905 |
Wealth Management |  |  |  |  | 33,081 |  |  | 31,545 |  |  | 29,198 |
FirsTech |  |  |  |  | 21,653 |  |  | 20,619 |  |  | 17,574 |
Other |  |  |  |  | 7,347 |  |  | 9,720 |  |  | 9,103 |
Total noninterest expense |  |  |  |  | $ | 285,532 |  |  | $ | 283,881 |  |  | $ | 261,780 |
Income before income taxes |  |  |  |  |  |  |  |  |
Banking |  |  |  |  | $ | 156,196 |  |  | $ | 167,617 |  |  | $ | 154,267 |
Wealth Management |  |  |  |  | 24,742 |  |  | 23,849 |  |  | 23,884 |
FirsTech |  |  |  |  | 1,147 |  |  | 1,166 |  |  | 2,134 |
Other |  |  |  |  | (28,181) |  |  | (30,895) |  |  | (23,462) |
Total income before income taxes |  |  |  |  | $ | 153,904 |  |  | $ | 161,737 |  |  | $ | 156,823 |
Net income |  |  |  |  |  |  |  |  |
Banking |  |  |  |  | $ | 123,853 |  |  | $ | 131,596 |  |  | $ | 117,844 |
Wealth Management |  |  |  |  | 18,804 |  |  | 18,543 |  |  | 18,570 |
FirsTech |  |  |  |  | 830 |  |  | 847 |  |  | 1,527 |
Other |  |  |  |  | (20,922) |  |  | (22,675) |  |  | (14,492) |
Total net income |  |  |  |  | $ | 122,565 |  |  | $ | 128,311 |  |  | $ | 123,449 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
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