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EARNINGS PER COMMON SHARE | 6 Months Ended
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Jun. 30, 2025
Earnings Per Share [Abstract] |
EARNINGS PER COMMON SHARE | NOTE 14. EARNINGS PER COMMON SHARE Basic earnings per common share is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding, which include DSUs that are vested but not delivered. Net income available to common stockholders is net income less dividends that have been declared on Busey’s preferred stock (all of which is non-cumulative). 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 SSARs were exercised, stock units were vested, and ESPP shares were issued. Earnings per common share have been computed as follows:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
(dollars in thousands, except per share amounts) |  | 2025 |  | 2024 |  | 2025 |  | 2024
Net income |  | $ | 47,404 |  |  | $ | 27,357 |  |  | $ | 17,414 |  |  | $ | 53,582 |
Dividends on preferred stock |  | 155 |  |  | — |  |  | 155 |  |  | — |
Net income available to common stockholders |  | $ | 47,249 |  |  | $ | 27,357 |  |  | $ | 17,259 |  |  | $ | 53,582 |
Weighted average number of common shares outstanding, basic |  | 89,645,040 |  | 56,919,025 |  | 79,139,706 |  | 56,167,807
Dilutive effect of common stock equivalents: |  |  |  |  |  |  |  |
SSARs |  | 278,568 |  | — |  | 185,138 |  | —
RSU awards |  | 896,697 |  | 679,167 |  | 817,859 |  | 666,302
PSU awards |  | 47,360 |  | 245,599 |  | 81,970 |  | 269,494
DSU awards |  | 4,709 |  | 4,923 |  | 14,882 |  | 19,202
ESPP |  | 11,337 |  | 4,517 |  | 12,022 |  | 7,060
Weighted average number of common shares outstanding, diluted |  | 90,883,711 |  | 57,853,231 |  | 80,251,577 |  | 57,129,865
Basic earnings per common share |  | $ | 0.53 |  |  | $ | 0.48 |  |  | $ | 0.22 |  |  | $ | 0.95 |
Diluted earnings per common share |  | $ | 0.52 |  |  | $ | 0.47 |  |  | $ | 0.22 |  |  | $ | 0.94 |
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:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Anti-dilutive common stock equivalents |  |  |  |  |  |  |
Options | 15,106 |  | 17,966 |  | 15,106 |  | 19,176
RSU awards | — |  | 12,864 |  | — |  | 6,432
PSU awards | 13,455 |  | 93,266 |  | 208,043 |  | 100,969
Total anti-dilutive common stock equivalents | 28,561 |  | 124,096 |  | 223,149 |  | 126,577

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