XML 52 R39.htm IDEA: XBRL DOCUMENT v3.25.3

FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Sep. 30, 2025

Fair Value Disclosures [Abstract]

Schedule of Financial Assets and Financial Liabilities Measured at Fair Value on a Recurring Basis

The following tables summarize financial assets and financial liabilities measured at estimated fair value on a recurring basis:

						As of September 30, 2025
(dollars in thousands)						Level 1 Inputs						Level 2 Inputs						Level 3 Inputs						Total Fair Value
Debt securities available for sale:
Obligations of U.S. government corporations and agencies						$	—					$	113,605					$	—					$	113,605
Obligations of states and political subdivisions						—						247,544						—						247,544
Asset-backed securities						—						285,562						—						285,562
Commercial mortgage-backed securities						—						135,981						—						135,981
Residential mortgage-backed securities						—						1,267,576						—						1,267,576
Corporate debt securities						—						48,991						—						48,991
Equity securities						190						15,741						—						15,931
Derivative assets						—						33,934						39						33,973
Derivative liabilities						—						45,914						59						45,973

						As of December 31, 2024
(dollars in thousands)						Level 1 Inputs						Level 2 Inputs						Level 3 Inputs						Total Fair Value
Debt securities available for sale:
Obligations of U.S. government corporations and agencies						$	—					$	1,400					$	—					$	1,400
Obligations of states and political subdivisions						—						139,829						—						139,829
Asset-backed securities						—						336,557						—						336,557
Commercial mortgage-backed securities						—						92,174						—						92,174
Residential mortgage-backed securities						—						1,087,210						—						1,087,210
Corporate debt securities						—						153,051						—						153,051
Equity securities						5,567						10,295						—						15,862
Derivative assets						—						30,368						5						30,373
Derivative liabilities						—						58,099						—						58,099

Activity for risk participation agreements, which are financial assets measured at estimated fair value on a recurring basis using Level 3, is summarized in the table below:

												Three Months Ended September 30,												Nine Months Ended September 30,
(dollars in thousands)						Location						2025						2024						2025						2024
Beginning Balance												$	(45)					$	8					$	5					$	15
Gains (losses) recognized in earnings						Other expense						170						(5)						163						(15)
Purchases												(145)						13						(171)						16
Sales												—						—						24						—
Assumed in acquisition												—						—						(41)						—
Ending Balance												$	(20)					$	16					$	(20)					$	16

Schedule of Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis

The following tables summarize financial assets and financial liabilities measured at estimated fair value on a non-recurring basis:

						As of September 30, 2025
(dollars in thousands)						Level 1 Inputs						Level 2 Inputs						Level 3 Inputs						Total Fair Value
Loans evaluated individually, net of related allowance						$	—					$	—					$	19,056					$	19,056
OREO and other repossessed assets with subsequent impairment						—						—						2,628						2,628
Bank property held for sale with impairment						—						—						2,099						2,099

						As of December 31, 2024
(dollars in thousands)						Level 1 Inputs						Level 2 Inputs						Level 3 Inputs						Total Fair Value
Loans evaluated individually, net of related allowance						$	—					$	—					$	616					$	616
Bank property held for sale with impairment						—						—						2,841						2,841

Schedule of Quantitative Information About Level 3 Fair Value Measurements

The following table presents additional quantitative information about assets measured at estimated fair value on a non-recurring basis using Level 3 inputs:

As of September 30, 2025

(dollars in thousands)

Fair Value

Valuation Techniques

Unobservable Input

Range (Weighted Average)

Loans evaluated individually, net of related allowance

$

19,056

Appraisal of collateral

Appraisal adjustments

-1.6% to -100.0% (-32.2)%

OREO and other repossessed assets with subsequent impairment

2,628

Appraisal of collateral

Appraisal adjustments

-6.6% to -24.1% (-7.0)%

Bank property held for sale with impairment

2,099

Appraisal of collateral or real estate listing price

Appraisal adjustments

-9.0% to -86.8% (-57.3)%

As of December 31, 2024

(dollars in thousands)

Fair Value

Valuation Techniques

Unobservable Input

Range (Weighted Average)

Loans evaluated individually, net of related allowance

$

616

Appraisal of collateral

Appraisal adjustments

-25.0% to -100.0% (-74.9)%

Bank property held for sale with impairment

2,841

Appraisal of collateral or real estate listing price

Appraisal adjustments

-9.0% to -76.7% (-51.8)%

Schedule of Estimated Fair Values of Financial Instruments

Fair values of financial instruments that are not carried at fair value on Busey’s Consolidated Balance Sheets (Unaudited) were estimated as follows:

						As of September 30, 2025												As of December 31, 2024
(dollars in thousands)						Carrying Amount						Fair Value						Carrying Amount						Fair Value
Financial assets
Level 1 inputs:
Cash and cash equivalents						$	385,474					$	385,474					$	697,659					$	697,659
Level 2 inputs:
Debt securities held to maturity						784,821						659,471						826,630						675,053
Loans held for sale						8,943						8,993						3,657						3,726
Restricted bank stock						77,006						77,006						49,930						49,930
Accrued interest receivable						79,578						79,578						45,141						45,141
Level 3 inputs:
Portfolio loans, net						13,424,085						13,505,193						7,613,683						7,426,158
Mortgage servicing rights						1,441						5,260						1,304						5,627
Other servicing rights						2,274						2,315						1,482						1,591
Financial liabilities
Level 2 inputs:
Time deposits						$	2,433,788					$	2,428,428					$	1,490,635					$	1,481,591
Securities sold under agreements to repurchase						147,152						147,152						155,610						155,610
Long-term borrowings						92,431						92,452						—						—
Junior subordinated debt owed to unconsolidated trusts						77,257						71,478						74,815						67,314
Accrued interest payable						24,355						24,355						21,129						21,129
Level 3 inputs:
Subordinated notes, net of unamortized issuance costs						103,283						98,490						227,723						219,043

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 103
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-103

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

+ Details

Name:	us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

+ Details

Name:	us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

+ Details

Name:	us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-SubTopic 10
-Topic 825
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482881/825-10-55-10

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-13

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482881/825-10-55-12

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-11

+ Details

Name:	us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_FairValueDisclosuresAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration