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EARNINGS PER SHARE | 12 Months Ended
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Dec. 31, 2023
Earnings Per Share [Abstract] |
EARNINGS PER SHARE | NOTE 19. EARNINGS PER SHARE Basic earnings per share is computed by dividing net income for the period by the weighted average number of common shares outstanding, which include DSUs that are vested but not delivered. Diluted earnings per common share is computed using the treasury stock method and reflects the potential dilution that could occur if Busey’s outstanding stock options and warrants were exercised, stock units were vested, and shares were issued under the 2021 ESPP. Earnings per common share have been computed as follows (dollars in thousands, except per share amounts):
|  |  | Years Ended December 31,
|  |  |  |  | 2023 |  | 2022 |  | 2021
Net income |  |  |  |  | $ | 122,565 |  |  | $ | 128,311 |  |  | $ | 123,449 |
Weighted average number of common shares outstanding, basic |  |  |  |  | 55,432,322 |  | 55,387,073 |  | 55,369,476
Dilutive effect of common stock equivalents: |  |  |  |  |  |  |  |  |
Options |  |  |  |  | — |  | 1,632 |  | 1,639
Warrants |  |  |  |  | 324 |  | 1,753 |  | 1,753
RSU awards |  |  |  |  | 647,217 |  | 665,998 |  | 615,759
PSU awards |  |  |  |  | 151,190 |  | 58,206 |  | 5,429
DSU awards |  |  |  |  | 18,154 |  | 15,532 |  | 10,641
2021 ESPP |  |  |  |  | 6,941 |  | 6,970 |  | 4,108
Weighted average number of common shares outstanding, diluted |  |  |  |  | 56,256,148 |  | 56,137,164 |  | 56,008,805
Basic earnings per common share |  |  |  |  | $ | 2.21 |  |  | $ | 2.32 |  |  | $ | 2.23 |
Diluted earnings per common share |  |  |  |  | 2.18 |  |  | 2.29 |  |  | 2.20 |
Average shares that were excluded from the computation of diluted earnings per common share because their effect would have been anti-dilutive are summarized in the table below for the periods presented:
|  |  | Years Ended December 31,
|  |  |  |  | 2023 |  | 2022 |  | 2021
Anti-dilutive common stock equivalents |  |  |  |  |  |  |  |  |
Options |  |  |  |  | 21,981 |  | 7,792 |  | —
RSU awards |  |  |  |  | 39,445 |  | 38,912 |  | 65,058
PSU awards |  |  |  |  | 106,955 |  | 189,000 |  | 93,026
DSU awards |  |  |  |  | — |  | — |  | 7,742
Total anti-dilutive common stock equivalents |  |  |  |  | 168,381 |  | 235,704 |  | 165,826

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