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v3.25.3

LEASES (Tables) | 9 Months Ended
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Sep. 30, 2025
Leases [Abstract] |
Schedule of Lease-Related Balances | The following table summarizes lease-related balances that Busey reported on its Consolidated Balance Sheets (Unaudited):
|  |  |  | As of
(dollars in thousands) |  | Location |  | September 30, 2025 |  | December 31, 2024
Lease balances |  |  |  |  |  |
Right of use assets: |  |  |  |  |  |
Operating leases |  | Other assets |  | $ | 29,236 |  |  | $ | 10,608 |
Finance leases |  | Premises and equipment, net |  | 5,235 |  |  | — |
Total right of use assets |  |  |  | $ | 34,471 |  |  | $ | 10,608 |
Lease liabilities: |  |  |  |  |  |
Operating leases |  | Other liabilities |  | $ | 31,592 |  |  | $ | 11,040 |
Finance leases |  | Long-term borrowings |  | 6,266 |  |  | — |
Total lease liabilities |  |  |  | $ | 37,858 |  |  | $ | 11,040 |
Lease terms are summarized as follows:
|  |  |  | As of
|  |  |  | September 30, 2025 |  | December 31, 2024
Lease terms |  |  |  |  |  |
Weighted average remaining lease terms |  |  |  |  |  |
Operating leases |  |  |  | 7.28 years |  | 7.55 years
Finance leases |  |  |  | 16.51 years |  | N/A
Weighted average discount rates |  |  |  |  |  |
Operating leases |  |  |  | 4.22 | % |  | 3.77 | %
Finance leases |  |  |  | 5.10 | % |  | N/A
Schedule of Lease Costs and Other Lease Information | The following table presents lease costs that Busey reported on its Consolidated Statements of Income (Unaudited):
|  |  |  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(dollars in thousands) |  | Location |  | 2025 |  | 2024 |  | 2025 |  | 2024
Lease costs |  |  |  |  |  |  |  |  |  |
Operating lease costs: |  |  |  |  |  |  |  |  |  |
Premises rent expense |  | Net occupancy expense of premises |  | $ | 1,483 |  |  | $ | 604 |  |  | $ | 4,221 |  |  | $ | 1,692 |
Equipment rent expense |  | Furniture and equipment expenses |  | 8 |  |  | 4 |  |  | 22 |  |  | 10 |
Finance lease costs: |  |  |  |  |  |  |  |  |  |
Amortization expense |  | Net occupancy expense of premises |  | 190 |  |  | — |  |  | 190 |  |  | — |
Interest expense |  | Long-term borrowings |  | 187 |  |  | — |  |  | 187 |  |  | — |
Variable lease costs |  | Net occupancy expense of premises |  | 15 |  |  | 15 |  |  | 45 |  |  | 43 |
Short-term lease costs |  | Net occupancy expense of premises |  | 14 |  |  | 12 |  |  | 44 |  |  | 70 |
Total lease cost |  |  |  | $ | 1,897 |  |  | $ | 635 |  |  | $ | 4,709 |  |  | $ | 1,815 |
Cash paid for amounts included in the measurement of lease liabilities was as follows:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(dollars in thousands) |  | 2025 |  | 2024 |  | 2025 |  | 2024
Cash flows related to leases |  |  |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 2,657 |  |  | $ | 1,034 |  |  | $ | 7,212 |  |  | $ | 2,915 |
Operating cash flows from finance leases |  | 187 |  |  | — |  |  | 187 |  |  | — |
Financing cash flows from finance leases |  | 99 |  |  | — |  |  | 99 |  |  | — |
Right of use assets obtained in exchange for operating lease liabilities 1 |  | (6,331) |  |  | 469 |  |  | 23,287 |  |  | 1,478 |
Right of use assets obtained in exchange for finance lease liabilities 1 |  | 6,365 |  |  | — |  |  | 6,365 |  |  | — |
___________________________________________ 1.The nine months ended September 30, 2025, included $23.2 million for operating and $6.4 million for financing right of use assets recognized in connection with the acquisition of CrossFirst. One finance lease was initially classified as operating, and was moved to a financing classification in the third quarter of 2025. The nine months ended September 30, 2024, included $0.1 million right of use assets recognized in connection with the acquisition of M&M, and an additional $0.7 million recognized in connection with a lease amendment that was executed subsequent to the M&M acquisition for a lease that was obtained in that acquisition. Additional information about assets and liabilities obtained in business combinations can be found in “Note 2. Mergers and Acquisitions.”
Schedule of Future Undiscounted Lease Payments | Future undiscounted payments for leases with initial terms of one year or more, were as follows:
| As of September 30, 2025
(dollars in thousands) | Operating Leases |  | Finance Leases
Rent commitments |  |  |
Remainder of 2025 | $ | 1,618 |  |  | $ | 123 |
2026 | 6,107 |  |  | 490 |
2027 | 5,623 |  |  | 527 |
2028 | 5,107 |  |  | 540 |
2029 | 4,110 |  |  | 540 |
2030 | 3,227 |  |  | 540 |
Thereafter | 11,121 |  |  | 6,625 |
Total undiscounted cash flows | 36,913 |  |  | 9,385 |
Less: Amounts representing interest | 5,321 |  |  | 3,119 |
Present value of net future minimum lease payments | $ | 31,592 |  |  | $ | 6,266 |
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 September 30, |  | Nine Months Ended September 30,
(dollars in thousands) |  | 2025 |  | 2024 |  | 2025 |  | 2024
Rental income |  | $ | 214 |  |  | $ | 206 |  |  | $ | 647 |  |  | $ | 612 |
Schedule of Future Minimum Lease Payments | Busey is entitled to receive aggregate future lease payments as shown in the table below:
(dollars in thousands) |  | As of September 30, 2025
Rents to be received |  |
Remainder of 2025 |  | $ | 211 |
2026 |  | 738 |
2027 |  | 515 |
2028 |  | 377 |
2029 |  | 197 |
2030 |  | 117 |
Total lease payments from operating leases |  | $ | 2,155 |

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-4 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
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- Definition Tabular disclosure of maturity of undiscounted cash flows to be received by lessor on annual basis for operating lease. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479773/842-30-50-12 + Details
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