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EARNINGS PER COMMON SHARE | 12 Months Ended
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Dec. 31, 2024
Earnings Per Share [Abstract] |
EARNINGS PER COMMON SHARE | NOTE 21. EARNINGS PER COMMON 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 ESPP shares were issued. Earnings per common share have been computed as follows (dollars in thousands, except per share amounts):
| Years Ended December 31,
| 2024 |  | 2023 |  | 2022
Net income | $ | 113,691 |  |  | $ | 122,565 |  |  | $ | 128,311 |
Weighted average number of common shares outstanding, basic | 56,610,032 |  | 55,432,322 |  | 55,387,073
Dilutive effect of common stock equivalents: |  |  |  |  |
Options | 753 |  | — |  | 1,632
Warrants | — |  | 324 |  | 1,753
RSU awards | 662,341 |  | 647,217 |  | 665,998
PSU awards | 243,166 |  | 151,190 |  | 58,206
DSU awards | 19,956 |  | 18,154 |  | 15,532
ESPP | 6,753 |  | 6,941 |  | 6,970
Weighted average number of common shares outstanding, diluted | 57,543,001 |  | 56,256,148 |  | 56,137,164
Basic earnings per common share | $ | 2.01 |  |  | $ | 2.21 |  |  | $ | 2.32 |
Diluted earnings per common share | 1.98 |  |  | 2.18 |  |  | 2.29 |
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,
|  |  |  |  | 2024 |  | 2023 |  | 2022
Anti-dilutive common stock equivalents |  |  |  |  |  |  |  |  |
Options |  |  |  |  | 9,588 |  | 21,981 |  | 7,792
RSU awards |  |  |  |  | 3,216 |  | 39,445 |  | 38,912
PSU awards |  |  |  |  | 140,937 |  | 106,955 |  | 189,000
Total anti-dilutive common stock equivalents |  |  |  |  | 153,741 |  | 168,381 |  | 235,704

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