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DEPOSITS | 12 Months Ended
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Dec. 31, 2023
Deposits [Abstract] |
DEPOSITS | NOTE 8. DEPOSITS The composition of Busey’s deposits is as follows (dollars in thousands):
| As of December 31,
| 2023 |  | 2022
Deposits |  |  |
Noninterest-bearing demand deposits | $ | 2,834,655 |  |  | $ | 3,393,666 |
Interest-bearing transaction deposits | 2,717,139 |  |  | 2,857,818 |
Saving deposits and money market deposits | 2,920,088 |  |  | 2,964,421 |
Time deposits | 1,819,274 |  |  | 855,375 |
Total deposits | $ | 10,291,156 |  |  | $ | 10,071,280 |
Additional information about Busey’s deposits follows (dollars in thousands):
| As of December 31,
| 2023 |  | 2022
Brokered savings deposits and money market deposits | $ | 6,001 |  |  | $ | 1,303 |
Brokered time deposits | 285 |  |  | 275 |
Total time deposits with a minimum denomination of $100,000 | 1,072,189 |  |  | 416,445 |
Total time deposits with a minimum denomination that meets or exceeds the FDIC insurance limit of $250,000 | 386,286 |  |  | 120,377 |
Scheduled maturities of time deposits are as follows (dollars in thousands):
| As of December 31, 2023
Time deposits by schedule of maturities |
2024 | $ | 1,705,846 |
2025 | 68,738 |
2026 | 21,222 |
2027 | 12,470 |
2028 | 10,451 |
Thereafter | 547 |
Time deposits | $ | 1,819,274 |

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- Definition The entire disclosure for deposit liabilities including data and tables. It may include a description of the entity's deposit liabilities, the aggregate amount of time deposits (including certificates of deposit) in denominations of $100,000 or more at the balance sheet date; the aggregate amount of any demand deposits that have been reclassified as loan balances, such as overdrafts, at the balance sheet date; deposits that are received on terms other than those in the normal course of business, the amount of accrued interest on deposit liabilities; securities, mortgage loans or other financial instruments that serve as collateral for deposits; for time deposits having a remaining term of more than one year, the aggregate amount of maturities for each of the five years following the balance sheet date; and the weighted average interest rate for all deposit liabilities held by the entity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 405 -Topic 942 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481047/942-405-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Regulation S-K (SK) -Number 229 -Section 1406 -Paragraph (e) -Publisher SEC Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Regulation S-K (SK) -Number 229 -Section 1406 -Publisher SEC Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.12) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479853/942-210-S99-1 + Details
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