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DEBT SECURITIES (Tables) | 6 Months Ended
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Jun. 30, 2025
Investments, Debt and Equity Securities [Abstract] |
Schedule of Amortized Cost, Unrealized or Unrecognized Gains and Losses and Fair Values of Securities Classified Available for Sale and Held to Maturity | The tables below provide the amortized cost, unrealized or unrecognized gains and losses, and fair values of debt securities summarized by major category:
|  | As of June 30, 2025
(dollars in thousands) |  | Amortized Cost |  | Unrealized |  | Fair Value
| Gross Gains |  | Gross Losses
Debt securities available for sale 1 |  |  |  |  |  |  |  |
Obligations of U.S. government corporations and agencies |  | $ | 115,902 |  |  | $ | 59 |  |  | $ | (404) |  |  | $ | 115,557 |
Obligations of states and political subdivisions |  | 260,997 |  |  | 131 |  |  | (18,975) |  |  | 242,153 |
Asset-backed securities |  | 373,231 |  |  | 390 |  |  | — |  |  | 373,621 |
Commercial mortgage-backed securities |  | 149,844 |  |  | 479 |  |  | (12,297) |  |  | 138,026 |
Residential mortgage-backed securities |  | 1,433,077 |  |  | 3,870 |  |  | (147,818) |  |  | 1,289,129 |
Corporate debt securities |  | 61,613 |  |  | 427 |  |  | (2,738) |  |  | 59,302 |
Total debt securities available for sale |  | $ | 2,394,664 |  |  | $ | 5,356 |  |  | $ | (182,232) |  |  | $ | 2,217,788 |
|  | Amortized Cost |  | Unrecognized |  | Fair Value
| Gross Gains |  | Gross Losses
Debt securities held to maturity |  |  |  |  |  |  |  |
Commercial mortgage-backed securities |  | $ | 407,401 |  |  | $ | — |  |  | $ | (70,772) |  |  | $ | 336,629 |
Residential mortgage-backed securities |  | 395,564 |  |  | — |  |  | (61,661) |  |  | 333,903 |
Total debt securities held to maturity |  | $ | 802,965 |  |  | $ | — |  |  | $ | (132,433) |  |  | $ | 670,532 |
___________________________________________ 1.This table includes debt securities marked at par, with no gain or loss.
|  | As of December 31, 2024
(dollars in thousands) |  | Amortized Cost |  | Unrealized |  | Fair Value
|  | Gross Gains |  | Gross Losses |
Debt securities available for sale 1 |  |  |  |  |  |  |  |
Obligations of U.S. government corporations and agencies |  | $ | 1,408 |  |  | $ | — |  |  | $ | (8) |  |  | $ | 1,400 |
Obligations of states and political subdivisions |  | 156,534 |  |  | 31 |  |  | (16,736) |  |  | 139,829 |
Asset-backed securities |  | 336,379 |  |  | 181 |  |  | (3) |  |  | 336,557 |
Commercial mortgage-backed securities |  | 107,305 |  |  | — |  |  | (15,131) |  |  | 92,174 |
Residential mortgage-backed securities |  | 1,279,090 |  |  | 19 |  |  | (191,899) |  |  | 1,087,210 |
Corporate debt securities |  | 159,236 |  |  | 363 |  |  | (6,548) |  |  | 153,051 |
Total debt securities available for sale |  | $ | 2,039,952 |  |  | $ | 594 |  |  | $ | (230,325) |  |  | $ | 1,810,221 |
|  | Amortized Cost |  | Unrecognized |  | Fair Value
| Gross Gains |  | Gross Losses
Debt securities held to maturity |  |  |  |  |  |  |  |
Commercial mortgage-backed securities |  | $ | 415,530 |  |  | $ | — |  |  | $ | (77,242) |  |  | $ | 338,288 |
Residential mortgage-backed securities |  | 411,100 |  |  | — |  |  | (74,335) |  |  | 336,765 |
Total debt securities held to maturity |  | $ | 826,630 |  |  | $ | — |  |  | $ | (151,577) |  |  | $ | 675,053 |
___________________________________________ 1.This table includes debt securities marked at par, with no gain or loss.
Schedule of Maturities Of Debt Securities | All mortgage-backed securities were issued by U.S. government corporations and agencies.
|  | As of June 30, 2025
(dollars in thousands) |  | Amortized Cost |  | Fair Value
Debt securities available for sale |  |  |  |
Due in one year or less |  | $ | 27,262 |  |  | $ | 27,134 |
Due after one year through five years |  | 52,667 |  |  | 50,135 |
Due after five years through ten years |  | 446,705 |  |  | 431,576 |
Due after ten years |  | 1,868,030 |  |  | 1,708,943 |
Debt securities available for sale |  | $ | 2,394,664 |  |  | $ | 2,217,788 |
Debt securities held to maturity |  |  |  |
Due in one year or less |  | $ | 16,804 |  |  | $ | 16,708 |
Due after one year through five years |  | 59,889 |  |  | 57,757 |
Due after five years through ten years |  | 14,710 |  |  | 13,127 |
Due after ten years |  | 711,562 |  |  | 582,940 |
Debt securities held to maturity |  | $ | 802,965 |  |  | $ | 670,532 |
Schedule of Gains and Losses on Debt Securities Available for Sale | Realized gains and losses related to sales and calls of debt securities available for sale are summarized as follows:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
(dollars in thousands) |  | 2025 |  | 2024 |  | 2025 |  | 2024
Realized gains and losses on debt securities |  |  |  |  |  |  |  |
Gross gains on debt securities |  | $ | 1 |  |  | $ | — |  |  | $ | 9 |  |  | $ | 1 |
Gross (losses) on debt securities 1 |  | 0 |  | (4) |  | (15,545) |  |  | (6,807) |
Realized net gains (losses) on debt securities |  | $ | 1 |  |  | $ | (4) |  |  | $ | (15,536) |  |  | $ | (6,806) |
___________________________________________ 1.During the first quarter of 2025, Busey sold available for sale debt securities with a book value of approximately $205.6 million for a pre-tax loss of $15.5 million, as part of a balance sheet repositioning strategy. During the first quarter of 2024, Busey sold available for sale debt securities with a book value of approximately $108.2 million for a pre-tax loss of $6.8 million, as part of a balance sheet repositioning strategy.
Schedule of Debt Securities in an Unrealized or Unrecognized Loss Position | The following information pertains to debt securities with gross unrealized or unrecognized losses, aggregated by investment category and the length of time that individual securities have been in a continuous loss position:
|  | As of June 30, 2025
|  | Less than 12 months |  | 12 months or more |  | Total
(dollars in thousands) |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
Debt securities available for sale |  |  |  |  |  |  |  |  |  |  |  |
Obligations of U.S. government corporations and agencies |  | $ | 94,032 |  |  | $ | (403) |  |  | $ | 152 |  |  | $ | (1) |  |  | $ | 94,184 |  |  | $ | (404) |
Obligations of states and political subdivisions |  | 126,519 |  |  | (7,390) |  |  | 96,547 |  |  | (11,585) |  |  | 223,066 |  |  | (18,975) |
Commercial mortgage-backed securities |  | 7,914 |  |  | (62) |  |  | 72,293 |  |  | (12,235) |  |  | 80,207 |  |  | (12,297) |
Residential mortgage-backed securities |  | 125,548 |  |  | (385) |  |  | 796,367 |  |  | (147,433) |  |  | 921,915 |  |  | (147,818) |
Corporate debt securities |  | 933 |  |  | (6) |  |  | 47,744 |  |  | (2,732) |  |  | 48,677 |  |  | (2,738) |
Debt securities available for sale with gross unrealized losses |  | $ | 354,946 |  |  | $ | (8,246) |  |  | $ | 1,013,103 |  |  | $ | (173,986) |  |  | $ | 1,368,049 |  |  | $ | (182,232) |
|  |  |  |  |  | Fair Value |  | Unrecognized Losses |  | Fair Value |  | Unrecognized Losses
Debt securities held to maturity |  |  |  |  |  |  |  |  |  |  |  |
Commercial mortgage-backed securities |  |  |  |  |  | $ | 336,629 |  |  | $ | (70,772) |  |  | $ | 336,629 |  |  | $ | (70,772) |
Residential mortgage-backed securities |  |  |  |  |  | 333,903 |  |  | (61,661) |  |  | 333,903 |  |  | (61,661) |
Debt securities held to maturity with gross unrecognized losses |  |  |  |  |  | $ | 670,532 |  |  | $ | (132,433) |  |  | $ | 670,532 |  |  | $ | (132,433) |
|  | As of December 31, 2024
|  | Less than 12 months |  | 12 months or more |  | Total
(dollars in thousands) |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
Debt securities available for sale |  |  |  |  |  |  |  |  |  |  |  |
Obligations of U.S. government corporations and agencies |  | $ | — |  |  | $ | — |  |  | $ | 1,328 |  |  | $ | (8) |  |  | $ | 1,328 |  |  | $ | (8) |
Obligations of states and political subdivisions |  | 11,234 |  |  | (209) |  |  | 119,723 |  |  | (16,527) |  |  | 130,957 |  |  | (16,736) |
Asset-backed securities |  | 14,997 |  |  | (3) |  |  | — |  |  | — |  |  | 14,997 |  |  | (3) |
Commercial mortgage-backed securities |  | 6,238 |  |  | (42) |  |  | 85,936 |  |  | (15,089) |  |  | 92,174 |  |  | (15,131) |
Residential mortgage-backed securities |  | 152,081 |  |  | (640) |  |  | 930,642 |  |  | (191,259) |  |  | 1,082,723 |  |  | (191,899) |
Corporate debt securities |  | 598 |  |  | (1) |  |  | 143,966 |  |  | (6,547) |  |  | 144,564 |  |  | (6,548) |
Debt securities available for sale with gross unrealized losses |  | $ | 185,148 |  |  | $ | (895) |  |  | $ | 1,281,595 |  |  | $ | (229,430) |  |  | $ | 1,466,743 |  |  | $ | (230,325) |
|  |  |  |  |  | Fair Value |  | Unrecognized Losses |  | Fair Value |  | Unrecognized Losses
Debt securities held to maturity |  |  |  |  |  |  |  |  |  |  |  |
Commercial mortgage-backed securities |  |  |  |  |  | $ | 338,288 |  |  | $ | (77,242) |  |  | $ | 338,288 |  |  | $ | (77,242) |
Residential mortgage-backed securities |  |  |  |  |  | 336,765 |  |  | (74,335) |  |  | 336,765 |  |  | (74,335) |
Debt securities held to maturity with gross unrecognized losses |  |  |  |  |  | $ | 675,053 |  |  | $ | (151,577) |  |  | $ | 675,053 |  |  | $ | (151,577) |
Additional information about debt securities in an unrealized or unrecognized loss position is presented in the tables below:
|  | As of June 30, 2025
(dollars in thousands) |  | Available for Sale |  | Held to Maturity |  | Total
Debt securities with gross unrealized or unrecognized losses, fair value |  | $ | 1,368,049 |  |  | $ | 670,532 |  |  | $ | 2,038,581 |
Gross unrealized or unrecognized losses on debt securities |  | 182,232 |  |  | 132,433 |  |  | 314,665 |
Ratio of gross unrealized or unrecognized losses to debt securities with gross unrealized or unrecognized losses |  | 13.3 | % |  | 19.8 | % |  | 15.4 | %
Count of debt securities |  | 657 |  |  | 55 |  |  | 712 |
Count of debt securities in an unrealized or unrecognized loss position |  | 502 |  |  | 55 |  |  | 557 |
|  | As of December 31, 2024
(dollars in thousands) |  | Available for Sale |  | Held to Maturity |  | Total
Debt securities with gross unrealized or unrecognized losses, fair value |  | $ | 1,466,743 |  |  | $ | 675,053 |  |  | $ | 2,141,796 |
Gross unrealized or unrecognized losses on debt securities |  | 230,325 |  |  | 151,577 |  |  | 381,902 |
Ratio of gross unrealized or unrecognized losses to debt securities with gross unrealized or unrecognized losses |  | 15.7 | % |  | 22.5 | % |  | 17.8 | %
Count of debt securities |  | 677 |  |  | 55 |  |  | 732 |
Count of debt securities in an unrealized or unrecognized loss position |  | 586 |  |  | 55 |  |  | 641 |

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