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EARNINGS PER COMMON SHARE | 9 Months Ended
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Sep. 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 September 30, |  | Nine Months Ended September 30,
(dollars in thousands, except per share amounts) |  | 2025 |  | 2024 |  | 2025 |  | 2024
Net income |  | $ | 57,098 |  |  | $ | 32,004 |  |  | $ | 74,512 |  |  | $ | 85,586 |
Dividends on preferred stock |  | (5,131) |  |  | — |  |  | (5,286) |  |  | — |
Net income available to common stockholders |  | $ | 51,967 |  |  | $ | 32,004 |  |  | $ | 69,226 |  |  | $ | 85,586 |
Weighted average number of common shares outstanding, basic |  | 89,136,898 |  | 57,033,359 |  | 82,508,723 |  | 56,458,430
Dilutive effect of common stock equivalents: |  |  |  |  |  |  |  |
Options |  | 187 |  | 1,714 |  | 63 |  | 572
SSARs |  | 204,106 |  | — |  | 191,460 |  | —
RSU awards |  | 815,829 |  | 655,224 |  | 817,169 |  | 662,609
PSU awards |  | 32,510 |  | 254,365 |  | 65,031 |  | 264,451
DSU awards |  | 17,204 |  | 16,766 |  | 15,656 |  | 18,390
ESPP |  | 11,648 |  | 6,420 |  | 11,897 |  | 6,847
Weighted average number of common shares outstanding, diluted |  | 90,218,382 |  | 57,967,848 |  | 83,609,999 |  | 57,411,299
Basic earnings per common share |  | $ | 0.58 |  |  | $ | 0.56 |  |  | $ | 0.84 |  |  | $ | 1.52 |
Diluted earnings per common share |  | $ | 0.58 |  |  | $ | 0.55 |  |  | $ | 0.83 |  |  | $ | 1.49 |
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 September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Anti-dilutive common stock equivalents |  |  |  |  |  |  |
Options | — |  | — |  | 10,071 |  | 12,784
RSU awards | — |  | — |  | 1,498 |  | 4,288
PSU awards | 298,211 |  | 107,065 |  | 238,099 |  | 103,001
Total anti-dilutive common stock equivalents | 298,211 |  | 107,065 |  | 249,668 |  | 120,073

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