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LEASES (Tables)
 3 Months Ended
Mar. 31, 2025
Leases [Abstract]  
Schedule of Lease-Related Balances The following table summarizes lease-related balances that Busey reported on its Consolidated Balance Sheets (Unaudited) and lease terms:
As of
(dollars in thousands)March 31,
2025		December 31,
2024
Lease balances
Right of use assets$40,594 $10,608 
Lease liabilities41,111 11,040 
Lease terms
Year through which lease terms extend20422039
Weighted average remaining lease term9.10 years7.55 years
Weighted average discount rate4.38 %3.77 %
Schedule of Lease Costs and Other Lease Information
The following table presents lease costs, which are included in net occupancy and equipment expense in the Consolidated Statements of Income (Unaudited):
Three Months Ended March 31,
(dollars in thousands)20252024
Lease costs
Operating lease costs$957 $535 
Variable lease costs15 14 
Short-term lease costs12 13 
Total lease cost$984 $562 
Cash paid for amounts included in the measurement of lease liabilities was as follows:
Three Months Ended March 31,
(dollars in thousands)20252024
Cash flows related to leases
Operating lease cash flows – Fixed payments$875 $507 
Operating lease cash flows – Liability reduction684 411 
Right of use assets obtained during the period in exchange for operating lease liabilities1
30,733 — 
___________________________________________
1.The three months ended March 31, 2025, included $30.7 million right of use assets recognized in connection with the acquisition of CrossFirst (see “Note 2. Mergers and Acquisitions”).
Schedule of Future Undiscounted Lease Payments
Busey was obligated under noncancelable operating leases for office space and other commitments. Future undiscounted lease payments with initial terms of one year or more, were as follows:
(dollars in thousands)As of
March 31, 2025
Rent commitments
Remainder of 2025$5,845 
20266,548 
20276,116 
20285,648 
20294,671 
20303,796 
Thereafter17,783 
Total undiscounted cash flows50,407 
Less: Amounts representing interest9,296 
Present value of net future minimum lease payments$41,111 
Schedule of Revenue Recorded in Connection with Leases Revenues recorded in connection with these leases, reported in other income on Busey’s Consolidated Statements of Income (Unaudited), are summarized as follows:
Three Months Ended March 31,
(dollars in thousands)20252024
Rental income$216 $202 
Schedule of Future Minimum Lease Payments Busey is entitled to receive aggregate future minimum lease payments as shown in the table below:
(dollars in thousands)As of
March 31, 2025
Rents to be received
Remainder of 2025$579 
2026603 
2027403 
2028290 
2029109 
203027 
Total lease payments from operating leases$2,011