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TAX CREDIT INVESTMENTS AND OTHER INVESTMENTS IN UNCONSOLIDATED ENTITIES | 6 Months Ended
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Jun. 30, 2025
Investments, All Other Investments [Abstract] |
TAX CREDIT INVESTMENTS AND OTHER INVESTMENTS IN UNCONSOLIDATED ENTITIES | NOTE 9. TAX CREDIT INVESTMENTS AND OTHER INVESTMENTS IN UNCONSOLIDATED ENTITIES Busey’s investments in unconsolidated entities and related unfunded investment obligations are reflected in other assets and other liabilities on the Consolidated Balance Sheets (Unaudited), and are summarized in the table below for the periods indicated:
|  |  |  | As of
(dollars in thousands) |  | Location |  | June 30, 2025 |  | December 31, 2024
Investments in unconsolidated entities |  |  |  |  |  |
Funded investments |  | Other assets |  | $ | 88,846 |  |  | $ | 70,796 |
Unfunded investments |  | Other assets |  | 54,701 |  |  | 61,210 |
Investments in unconsolidated entities |  |  |  | $ | 143,547 |  |  | $ | 132,006 |
Unfunded investment obligations |  | Other liabilities |  | $ | 54,701 |  |  | $ | 61,210 |
Upon adoption of ASU 2023-02 on January 1, 2024, Busey elected to apply the proportional amortization method in accounting for investments in tax-advantaged projects. Income tax credits and other tax benefits related to these investments, net of investment amortization, are included as a component of Busey’s estimated annual effective tax rate used for the calculation of income taxes presented on the Consolidated Statements of Income (Unaudited). Actual amounts of income tax credits and other benefits, along with the investment amortization, are presented in the table below:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
(dollars in thousands) |  | 2025 |  | 2024 |  | 2025 |  | 2024
Income tax credits and other tax benefits |  | $ | 4,319 |  |  | $ | 3,800 |  |  | $ | 8,908 |  |  | $ | 7,901 |
Amortization of investments in tax-advantaged projects |  | 3,829 |  |  | 3,371 |  |  | 7,937 |  |  | 7,018 |

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- Definition The entire disclosure for investment. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/320/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Topic 321 -Publisher FASB -URI https://asc.fasb.org/321/tableOfContent Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Topic 325 -Publisher FASB -URI https://asc.fasb.org/325/tableOfContent + Details
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