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OTHER REAL ESTATE OWNED AND OTHER REPOSSESSED ASSETS (Tables) | 12 Months Ended
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Dec. 31, 2023
Other Real Estate, Foreclosed Assets, and Repossessed Assets [Abstract] |
Schedule of OREO and other repossessed assets balances | The following table summarizes the composition of Busey’s OREO and other repossessed asset balances as of the periods presented (dollars in thousands):
| As of December 31,
| 2023 |  | 2022
OREO |  |  |
Residential | $ | 125 |  |  | $ | 70 |
Total OREO | 125 |  |  | 70 |
Other repossessed assets | — |  |  | 780 |
OREO and other repossessed assets | $ | 125 |  |  | $ | 850 |
Schedule of activity related to OREO and other repossessed assets | The following table summarizes changes in the balance OREO and other repossessed assets (dollars in thousands):
| Years Ended December 31,
| 2023 |  | 2022 |  | 2021
OREO and other repossessed assets at January 1 | $ | 850 |  |  | $ | 4,416 |  |  | $ | 4,571 |
Additions, transfers from loans | 189 |  |  | 175 |  |  | 1,610 |
Sales | (770) |  |  | (2,565) |  |  | (1,721) |
Cash payments collected | (44) |  |  | (565) |  |  | (43) |
Impairment of OREO and other repossessed assets | (100) |  |  | (611) |  |  | (1) |
OREO and other repossessed assets at December 31 | $ | 125 |  |  | $ | 850 |  |  | $ | 4,416 |
Schedule of activity related to foreclosed assets | OREO and other repossessed assets. The table below summarizes the effect of these activities, included in Other expense on Busey’s Consolidated Statements of Income (dollars in thousands):
| Years Ended December 31,
| 2023 |  | 2022 |  | 2021
Activity for OREO and other repossessed assets |  |  |  |  |
Net loss (gain) on sales | $ | 54 |  |  | $ | 665 |  |  | $ | 173 |
Operating expenses, net of income | 67 |  |  | 248 |  |  | 468 |
Activity for OREO and other repossessed assets | $ | 121 |  |  | $ | 913 |  |  | $ | 641 |

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- Definition Tabular disclosure of other real estate on properties owned. + References No definition available. + Details
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- Definition Tabular disclosure of the change in other real estate on properties owned. Excludes real estate assets taken in settlement of troubled loans through surrender or foreclosure by banks. + References No definition available. + Details
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