F I R S T B U S E Y C O R P O R A T I O N
A N N O U N C E S
2 0 2 6 S E C O N D Q U A R T E R
E A R N I N G S
Q 2 | 2 0 2 6
| www.busey.com |
| INVESTOR CONTACT: Tate McKay, Director of Investor Relations and Corporate Development | 217-351-6709 |
LEAWOOD, KS, July 28, 2026 (GLOBE NEWSWIRE) – First Busey Corporation (Nasdaq: BUSE) Announces 2026 Second Quarter Earnings.
| Net Income | Diluted EPS | Net Interest Margin¹ | ROAA¹ | ROATCE¹ |
|---|---|---|---|---|
| $63.2 million$63.7 million (adj)² | $0.69$0.69 (adj)² | 3.72%² 3.62% (adj)² | 1.42%² 1.43% (adj)² | 14.49%² 14.61% (adj)² |
| MESSAGE FROM OUR CHAIRMAN, PRESIDENT & CEO |
| Busey delivered a strong second quarter, with adjusted diluted EPS² of $0.69, up 9.5% year-over-year. Profitability continued to expand, as adjusted return on average assets² improved by 22 basis points to 1.43% and adjusted return on average tangible common equity² improved by 20 basis points to 14.61%. Adjusted net interest margin² rose by 29 basis points year-over-year to 3.62%, easing just 2 basis points from the prior quarter. Wealth Management posted its third consecutive record quarter in fee income, with net inflows complementing rising market valuations to close the quarter with $16.51 billion in assets under care. Expense discipline drove a 134 basis point year-over-year improvement in the efficiency ratio², to 54.0%. Capital strengthened further with Common Equity Tier 1 Capital to Risk Weighted Assets³ rising to 12.53%, even after share repurchases of $128.8 million year to date, including $63.1 million this quarter. Tangible book value per common share² grew 6.4% year-over-year to $20.40 and 11.7% inclusive of dividends. Deposit growth was significant at 11% annualized during the quarter and demonstrates the primacy and depth of our client relationships. Our conservative approach to credit risk management has led to strong and stable asset quality with net charge-offs at 0.19%. As we enter the second half of 2026, Busey’s indomitable balance sheet provides the flexibility to support our clients in a volatile environment while continuing to optimize capital allocation to drive long-term value for our shareholders. Van A. Dukeman Chairman, President and CEO of First Busey Corporation |
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (unaudited)
| (dollars in thousands, except per share amounts) | Three Months EndedJune 30, 2026 | Three Months EndedMarch 31, 2026 | Three Months EndedJune 30, 2025 | Six Months EndedJune 30, 2026 | Six Months EndedJune 30, 2025 |
|---|---|---|---|---|---|
| Total interest income | $224,425 | $225,485 | $247,446 | $449,910 | $414,261 |
| Total interest expense | 72,023 | 71,516 | 94,263 | 143,539 | 157,347 |
| Net interest income | 152,402 | 153,969 | 153,183 | 306,371 | 256,914 |
| Provision for credit losses | 2,189 | 3,058 | 5,700 | 5,247 | 51,293 |
| Net interest income after provision for credit losses | 150,213 | 150,911 | 147,483 | 301,124 | 205,621 |
| Total noninterest income | 44,311 | 42,265 | 44,863 | 86,576 | 66,086 |
| Total noninterest expense | 112,635 | 129,519 | 127,833 | 242,154 | 239,863 |
| Income before income taxes | 81,889 | 63,657 | 64,513 | 145,546 | 31,844 |
| Income taxes | 18,713 | 13,676 | 17,109 | 32,389 | 14,430 |
| Net income | 63,176 | 49,981 | 47,404 | 113,157 | 17,414 |
| Dividends on preferred stock | 4,590 | 4,589 | 155 | 9,179 | 155 |
| Net income available to common stockholders | $58,586 | $45,392 | $47,249 | $103,978 | $17,259 |
| Basic earnings per common share | $0.69 | $0.52 | $0.53 | $1.21 | $0.22 |
| Diluted earnings per common share | $0.69 | $0.52 | $0.52 | $1.20 | $0.22 |
| Effective income tax rate | 22.85% | 21.48% | 26.52% | 22.25% | 45.31% |
First Busey Corporation (BUSE) | 2026 Q2 — 1
Second quarter 2026 net income for First Busey Corporation, together with its consolidated subsidiaries (“Busey,” the “Company,” “we,” “us,” or “our”) was $63.2 million, or $0.69 per diluted common share, compared to net income of $50.0 million, or $0.52 per diluted common share, for the first quarter of 2026, and $47.4 million, or $0.52 per diluted common share, for the second quarter of 2025. Annualized return on average assets² and annualized return on average tangible common equity² were 1.42% and 14.49%, respectively, for the second quarter of 2026.
Pre-provision net revenue² was $81.6 million for the second quarter of 2026, compared to $67.7 million for the first quarter of 2026 and $64.2 million for the second quarter of 2025. Pre-provision net revenue to average assets² was 1.83% for the second quarter of 2026, compared to 1.52% for the first quarter of 2026, and 1.35% for the second quarter of 2025.
Adjusted Financial Results
Busey views certain non-operating items, including acquisition-related expenses, restructuring charges, and nonrecurring strategic events, as adjustments to net income reported under U.S. generally accepted accounting principles ("GAAP"). We also adjust for net securities gains and losses to align with industry and research analyst reporting. The objective of our presentation of adjusted earnings and adjusted earnings metrics is to allow investors and analysts to more clearly identify quarterly trends in core earnings performance. Pre-tax non-GAAP adjustments to net income were as follows:
| (dollars in thousands) | Three Months EndedJune 30, 2026 | Three Months EndedMarch 31, 2026 | Three Months EndedJune 30, 2025 | Six Months EndedJune 30, 2026 | Six Months EndedJune 30, 2025 |
|---|---|---|---|---|---|
| PRE-TAX NON-GAAP ADJUSTMENTS TO NET INCOME | |||||
| Net securities (gains) losses | $(2,445) | $940 | $(5,997) | $(1,505) | $9,771 |
| Provision for credit losses | — | — | 4,030 | — | 49,602 |
| Salaries and employee benefits | 2,045 | 16,124 | 11,557 | 18,169 | 27,435 |
| Data processing | — | 80 | 3,964 | 80 | 6,266 |
| Furniture and equipment expenses | — | — | 1 | — | 1 |
| Professional fees | 704 | 119 | 317 | 823 | 7,611 |
| Other noninterest expense | 377 | 377 | 761 | 754 | 1,313 |
| Total pre-tax non-GAAP adjustments to net income | $681 | $17,640 | $14,633 | $18,321 | $101,999 |
Adjusted net income,² which excludes the impact of non-GAAP adjustments, was $63.7 million, or $0.69 per diluted common share, for the second quarter of 2026, compared to $63.2 million, or $0.67 per diluted common share, for the first quarter of 2026 and $57.4 million, or $0.63 per diluted common share, for the second quarter of 2025. Annualized adjusted return on average assets² and annualized adjusted return on average tangible common equity² were 1.43% and 14.61%, respectively, for the second quarter of 2026.
Adjusted pre-provision net revenue² was $84.8 million for the second quarter of 2026, compared to $84.4 million for the first quarter of 2026 and $80.8 million for the second quarter of 2025. Adjusted pre-provision net revenue to average assets² was 1.90% for the second quarter of 2026, compared to 1.89% for the first quarter of 2026 and 1.70% for the second quarter of 2025.
For more information and a reconciliation of non-GAAP measures—which are identified with the End Note labeled as 2—in tabular form, see "Non-GAAP Financial Information."
First Busey Corporation (BUSE) | 2026 Q2 — 2
Net Interest Income
Net interest income decreased by $1.6 million in the second quarter of 2026, compared to the first quarter of 2026, driven largely by lower purchase accounting accretion of $1.2 million. Lower average loan balances led to a decrease in average earning assets during the quarter. Deposit funding costs were 1 basis point lower during the quarter largely due to continued tailwinds from time deposit repricing. Based on our most recent Asset Liability Management Committee model, a +100 basis point parallel rate shock is expected to increase net interest income by 1.8% (relative to a current base rate scenario) over the subsequent twelve-month period. Busey continues to evaluate and execute off-balance sheet hedging and balance sheet strategies as well as embedding rate protection in our asset originations to provide consistent and predictable net interest income performance across different interest rate environments. Deposit balances increased by $392.7 million, or 2.7%, as a result of seasonal public funds inflows and strategic efforts to grow core customer deposits. At June 30, 2026, Busey Bank had $60.0 million of brokered funding, comprising 0.4% of total deposits, consistent with last quarter. Total deposit cost of funds decreased from 1.81% during the first quarter of 2026 to 1.80% during the second quarter of 2026. Deposit inflows allowed for reduction of borrowings by $184.6 million compared to the first quarter of 2026. Busey’s average total cost of funds was 1.89% for the second quarter of 2026, and spot total cost of funds was 1.92% at June 30, 2026.
First Busey Corporation (BUSE) | 2026 Q2 — 3
Net Interest Margin²
Busey’s average balances, annualized yield rates, and net interest margins are presented in the table below:
| (dollars in thousands) | Three Months Ended · June 30, 2026Average Balance | Three Months Ended · June 30, 2026Income/ Expense | Three Months Ended · June 30, 2026Yield/ Rate(vi) | Three Months Ended · March 31, 2026Average Balance | Three Months Ended · March 31, 2026Income/ Expense | Three Months Ended · March 31, 2026Yield/ Rate(vi) |
|---|---|---|---|---|---|---|
| ASSETS | ||||||
| Interest-bearing bank deposits and federal funds sold | $123,868 | $1,057 | 3.42% | $139,204 | $1,222 | 3.56% |
| Investment securities(i)(ii) | 2,964,414 | 24,483 | 3.31% | 2,918,240 | 23,289 | 3.24% |
| Restricted bank stock | 85,153 | 1,127 | 5.31% | 81,619 | 880 | 4.37% |
| Loans held for sale | 8,358 | 122 | 5.85% | 5,072 | 73 | 5.84% |
| Portfolio loans(i)(iii) | 13,326,579 | 198,477 | 5.97% | 13,521,631 | 200,898 | 6.03% |
| Total interest-earning assets(i) | 16,508,372 | $225,266 | 5.47% | 16,665,766 | $226,362 | 5.51% |
| Noninterest-earning assets | 1,378,725 | 1,394,454 | ||||
| Total assets | $17,887,097 | $18,060,220 | ||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||
| Interest-bearing transaction deposits | $3,203,014 | $13,463 | 1.69% | $3,124,068 | $12,505 | 1.62% |
| Savings and money market deposits | 5,615,951 | 32,220 | 2.30% | 5,687,520 | 31,964 | 2.28% |
| Time deposits | 2,342,629 | 20,078 | 3.44% | 2,409,136 | 21,557 | 3.63% |
| Federal funds purchased and repurchase agreements | 169,008 | 1,098 | 2.61% | 160,822 | 896 | 2.26% |
| Borrowings(iv) | 450,454 | 5,164 | 4.60% | 391,965 | 4,594 | 4.75% |
| Total interest-bearing liabilities | 11,781,056 | $72,023 | 2.45% | 11,773,511 | $71,516 | 2.46% |
| Noninterest-bearing deposits | 3,467,436 | 3,536,830 | ||||
| Other liabilities | 240,118 | 279,607 | ||||
| Stockholders’ equity | 2,398,487 | 2,470,272 | ||||
| Total liabilities and stockholders’ equity | $17,887,097 | $18,060,220 | ||||
| Net interest margin(i)(v) | $153,243 | 3.72% | $154,846 | 3.77% |
(i)On a tax-equivalent basis and assuming a federal income tax rate of 21.0%.
(ii)Investment securities include debt securities available for sale, debt securities held to maturity, and equity securities.
(iii)Non-accrual loans have been included in average portfolio loans.
(iv)Includes, as applicable, short-term borrowings, long-term borrowings, subordinated notes, and junior subordinated debt owed to unconsolidated trusts.
(v)For a reconciliation of non-GAAP measures, see “Non-GAAP Financial Information.”
(vi)Annualized.
First Busey Corporation (BUSE) | 2026 Q2 — 4
| (dollars in thousands) | Three Months EndedJune 30, 2026 | Three Months EndedMarch 31, 2026 | Three Months EndedJune 30, 2025 | Six Months EndedJune 30, 2026 | Six Months EndedJune 30, 2025 |
|---|---|---|---|---|---|
| NONINTEREST INCOME | |||||
| Wealth management fees | $19,981 | $19,370 | $16,777 | $39,351 | $34,141 |
| Payment technology solutions | 4,968 | 5,077 | 4,956 | 10,045 | 10,029 |
| Treasury management services | 4,789 | 4,456 | 4,569 | 9,245 | 7,406 |
| Capital markets income | 1,871 | 2,371 | 1,254 | 4,242 | 2,579 |
| Card services and ATM fees | 4,813 | 4,646 | 4,880 | 9,459 | 8,589 |
| Other service charges on deposit accounts | 1,407 | 1,506 | 1,513 | 2,913 | 3,046 |
| Income on bank owned life insurance | 1,637 | 1,616 | 1,745 | 3,253 | 3,191 |
| Net securities gains (losses) | 2,445 | (940) | 5,997 | 1,505 | (9,771) |
| Other noninterest income | 2,400 | 4,163 | 3,172 | 6,563 | 6,876 |
| Total noninterest income | $44,311 | $42,265 | $44,863 | $86,576 | $66,086 |
Busey continues to benefit from its diverse set of product offerings. Total noninterest income increased by 4.8% compared to the first quarter of 2026, primarily due to increases in income from wealth management fees, treasury management services, and net securities gains, partially offset by declines in other noninterest income. Compared to the second quarter of 2025, total noninterest income decreased by 1.2%, primarily due to declines in net securities gains and other noninterest income, partially offset by increases in income from wealth management fees.
Noteworthy changes in noninterest income during the quarter include:
- Wealth management fees increased by $0.6 million, or 3.2%, compared to the first quarter of 2026, primarily due to increases in income from trust fees and seasonal tax preparation fees, partially offset by seasonal declines in income from farm management fees. Compared to the second quarter of 2025, wealth management fees increased by $3.2 million, or 19.1%, with increases primarily attributable to trust fees.
Busey’s Wealth Management division ended the second quarter of 2026 with $16.51 billion in assets under care, compared to $15.65 billion at the end of the first quarter of 2026 and $14.10 billion at the end of the second quarter of 2025. Busey’s portfolio management team continues to focus on long-term returns and managing risk in the face of volatile markets and has outperformed its blended benchmark⁴ over the last three, five, and seven years.
- Treasury management services increased by $0.3 million, or 7.5%, compared to the first quarter of 2026, primarily due to increases in income from analysis charges.
- Other noninterest income declined by $1.8 million, or 42.3%, compared to the first quarter of 2026, and declined by $0.8 million, or 24.3% compared to the second quarter of 2025. Declines were primarily due to decreases in income from private equity investments, mortgage revenue, and commercial loan sales gains.
First Busey Corporation (BUSE) | 2026 Q2 — 5
| (dollars in thousands) | Three Months EndedJune 30, 2026 | Three Months EndedMarch 31, 2026 | Three Months EndedJune 30, 2025 | Six Months EndedJune 30, 2026 | Six Months EndedJune 30, 2025 |
|---|---|---|---|---|---|
| NONINTEREST EXPENSE | |||||
| Salaries and employee benefits | $67,677 | $85,230 | $78,360 | $152,907 | $145,923 |
| Data processing | 8,868 | 9,864 | 14,021 | 18,732 | 23,596 |
| Net occupancy expense of premises | 7,850 | 7,652 | 7,832 | 15,502 | 13,631 |
| Furniture and equipment expenses | 2,336 | 2,177 | 2,409 | 4,513 | 4,153 |
| Professional fees | 3,041 | 3,239 | 2,874 | 6,280 | 12,385 |
| Amortization of intangible assets | 4,232 | 4,291 | 4,592 | 8,523 | 7,675 |
| Interchange expense | 1,096 | 1,116 | 1,297 | 2,212 | 2,640 |
| FDIC insurance | 2,349 | 2,451 | 2,424 | 4,800 | 4,591 |
| Other noninterest expense | 15,186 | 13,499 | 14,024 | 28,685 | 25,269 |
| Total noninterest expense | $112,635 | $129,519 | $127,833 | $242,154 | $239,863 |
Busey remains focused on prudently managing our expense base and operating efficiency. Total noninterest expense decreased by 13.0% compared to the first quarter of 2026, and by 11.9% compared to the second quarter of 2025. Decreases were primarily attributable to declines in expense for salaries and employee benefits and data processing, which were partially offset by increases in other noninterest expense.
Adjusted noninterest expense², which excludes acquisition and restructuring expenses, was as follows:
| (dollars in thousands) | Three Months EndedJune 30, 2026 | Three Months EndedMarch 31, 2026 | Three Months EndedJune 30, 2025 | Six Months EndedJune 30, 2026 | Six Months EndedJune 30, 2025 |
|---|---|---|---|---|---|
| NONINTEREST EXPENSE WITH NON-GAAP ADJUSTMENTS | |||||
| Salaries and employee benefits | $65,632 | $69,106 | $66,803 | $134,738 | $118,488 |
| Data processing | 8,868 | 9,784 | 10,057 | 18,652 | 17,330 |
| Net occupancy expense of premises | 7,850 | 7,652 | 7,832 | 15,502 | 13,631 |
| Furniture and equipment expenses | 2,336 | 2,177 | 2,408 | 4,513 | 4,152 |
| Professional fees | 2,337 | 3,120 | 2,557 | 5,457 | 4,774 |
| Amortization of intangible assets | 4,232 | 4,291 | 4,592 | 8,523 | 7,675 |
| Interchange expense | 1,096 | 1,116 | 1,297 | 2,212 | 2,640 |
| FDIC insurance | 2,349 | 2,451 | 2,424 | 4,800 | 4,591 |
| Other noninterest expense | 14,809 | 13,122 | 13,263 | 27,931 | 23,956 |
| Adjusted noninterest expense (Non-GAAP)(i) | $109,509 | $112,819 | $111,233 | $222,328 | $197,237 |
(i)Beginning in 2026, to better align with industry standards, Busey revised its calculation of adjusted noninterest expense, for all periods presented, to exclude any adjustment for amortization of intangible assets.
Noteworthy changes in noninterest expense during the quarter include:
- Salaries and employee benefits expenses declined by $17.6 million, or 20.6%, compared to the first quarter of 2026, with acquisition and restructuring expenses contributing $14.1 million, which were elevated during the first quarter of 2026 when Busey recorded restructuring costs in connection with the execution of additional synergies related to the CrossFirst acquisition and the departure of Mr. Maddox.
Compared to the second quarter of 2025, salaries and employee benefits expenses declined by $10.7 million, or 13.6%, of which $9.5 million was attributable to declines in acquisition and restructuring expenses, which were elevated in the second quarter of 2025 in connection with the CrossFirst acquisition.
First Busey Corporation (BUSE) | 2026 Q2 — 6
- Data processing expenses declined by $1.0 million, or 10.1%, compared to the first quarter of 2026. Data processing expenses declined by $5.2 million, or 36.8%, compared to the second quarter of 2025, of which $4.0 million was attributable to declines in acquisition and restructuring expenses, which were elevated in the second quarter of 2025 in connection with the CrossFirst acquisition.
- Other noninterest expense increased by $1.7 million, or 12.5%, compared to the first quarter of 2026, and increased by $1.2 million, or 8.3% compared to the second quarter of 2025. Increases were primarily attributable to marketing and business development costs.
The efficiency ratio² was 54.0% for the second quarter of 2026, compared to 54.8% for the first quarter of 2026, and 55.3% for the second quarter of 2025.
BALANCE SHEET STRENGTH
Busey’s financial strength is built on a long-term conservative operating approach. That focus has endured over time and will continue to guide us in the future.
| CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited)(dollars in thousands) | CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) · As ofJune 30, 2026 | CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) · As ofMarch 31, 2026 | June 30, 2025 |
|---|---|---|---|
| ASSETS | |||
| Cash and cash equivalents | $665,373 | $288,462 | $737,983 |
| Interest-bearing time deposits in other banks | 14,450 | 13,725 | 14,369 |
| Debt securities available for sale | 2,265,167 | 2,215,267 | 2,217,788 |
| Debt securities held to maturity | 703,988 | 725,540 | 802,965 |
| Equity securities | 16,397 | 13,951 | 16,171 |
| Loans held for sale | 8,660 | 5,224 | 10,497 |
| Portfolio loans | 13,195,154 | 13,459,890 | 13,808,619 |
| Allowance for credit losses | (164,204) | (169,054) | (183,334) |
| Restricted bank stock | 83,171 | 81,722 | 77,112 |
| Premises and equipment, net | 191,953 | 193,322 | 181,394 |
| Goodwill and other intangible assets, net | 471,288 | 475,520 | 488,181 |
| Other assets | 740,470 | 733,053 | 746,995 |
| Total assets | $18,191,867 | $18,036,622 | $18,918,740 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | |||
| Liabilities | |||
| Total deposits | $15,128,745 | $14,736,060 | $15,801,772 |
| Securities sold under agreements to repurchase | 144,061 | 156,364 | 158,030 |
| Borrowings | 285,734 | 470,365 | 266,913 |
| Other liabilities | 250,157 | 260,811 | 279,479 |
| Total liabilities | 15,808,697 | 15,623,600 | 16,506,194 |
| Stockholders’ equity | |||
| Retained earnings | 395,409 | 359,162 | 273,799 |
| Accumulated other comprehensive income (loss) | (141,080) | (135,553) | (155,311) |
| Other stockholders' equity(i) | 2,128,841 | 2,189,413 | 2,294,058 |
| Total stockholders’ equity | 2,383,170 | 2,413,022 | 2,412,546 |
| Total liabilities and stockholders’ equity | $18,191,867 | $18,036,622 | $18,918,740 |
(i)Net balance of preferred stock ($0.001 par value), common stock ($0.001 par value), additional paid-in capital, and treasury stock.
First Busey Corporation (BUSE) | 2026 Q2 — 7
Portfolio Loans
Busey remains steadfast in its conservative approach to underwriting and disciplined approach to pricing. Busey’s loan portfolio was comprised of the following:
| (dollars in thousands) | As ofJune 30, 2026 | As ofMarch 31, 2026 | June 30, 2025 |
|---|---|---|---|
| PORTFOLIO LOANS | |||
| Commercial loans: | |||
| Commercial and industrial and other commercial | $3,959,997 | $4,124,737 | $4,476,869 |
| Commercial real estate | 5,452,781 | 5,566,044 | 5,569,759 |
| Real estate construction | 1,027,069 | 1,052,505 | 1,041,803 |
| Total commercial loans | 10,439,847 | 10,743,286 | 11,088,431 |
| Retail loans: | |||
| Retail real estate | 2,116,360 | 2,119,621 | 2,228,959 |
| Retail other | 638,947 | 596,983 | 491,229 |
| Total retail loans | 2,755,307 | 2,716,604 | 2,720,188 |
| Total portfolio loans | $13,195,154 | $13,459,890 | $13,808,619 |
CRE loans comprised 41.3% of Busey’s total loan portfolio as of June 30, 2026, and CRE properties were 26.3% owner occupied. Owner occupied commercial real estate is generally dependent on the performance of the borrowers’ businesses, whereas non-owner occupied commercial real estate is generally reliant on property cash flows generated by third-party tenants.
| (dollars in thousands) | As ofJune 30, 2026 | As ofMarch 31, 2026 | June 30, 2025 |
|---|---|---|---|
| COMMERCIAL REAL ESTATE LOANS | |||
| Non-owner occupied commercial real estate | $4,019,517 | $4,125,785 | $4,130,131 |
| Owner occupied commercial real estate | 1,433,264 | 1,440,259 | 1,439,628 |
| Total commercial real estate loans | $5,452,781 | $5,566,044 | $5,569,759 |
First Busey Corporation (BUSE) | 2026 Q2 — 8
Asset Quality
Asset quality continues to be strong. Busey maintains a well-diversified loan portfolio and, as a matter of policy and practice, limits concentration exposure in any particular loan segment.
| (dollars in thousands) | As ofJune 30, 2026 | As ofMarch 31, 2026 | June 30, 2025 |
|---|---|---|---|
| Total assets | $18,191,867 | $18,036,622 | $18,918,740 |
| Portfolio loans | 13,195,154 | 13,459,890 | 13,808,619 |
| Loans 30 – 89 days past due | 8,135 | 17,465 | 42,188 |
| Non-performing loans: | |||
| Non-accrual loans | 62,766 | 45,799 | 53,614 |
| Loans 90+ days past due and still accruing | 4,668 | 812 | 941 |
| Non-performing loans | 67,434 | 46,611 | 54,555 |
| Other non-performing assets | 2,871 | 3,337 | 3,596 |
| Non-performing assets | 70,305 | 49,948 | 58,151 |
| Substandard (excludes 90+ days past due) | 155,737 | 166,467 | 117,580 |
| Classified assets | $226,042 | $216,415 | $175,731 |
| Allowance for credit losses | $164,204 | $169,054 | $183,334 |
| RATIOS | |||
| Non-performing loans to portfolio loans | 0.51% | 0.35% | 0.40% |
| Non-performing assets to total assets | 0.39% | 0.28% | 0.31% |
| Non-performing assets to portfolio loans and other non-performing assets | 0.53% | 0.37% | 0.42% |
| Allowance for credit losses to portfolio loans | 1.24% | 1.26% | 1.33% |
| Coverage ratio of the allowance for credit losses to non-performing loans | 2.44 x | 3.63 x | 3.36 x |
| Classified assets to Bank Tier 1 capital(i) and reserves | 9.69% | 9.35% | 7.70% |
(i)Capital amounts for the second quarter of 2026 are not yet finalized and are subject to change.
Non-performing assets increased by $20.4 million compared to March 31, 2026, and increased by $12.2 million compared to June 30, 2025. The quarter-over-quarter increase was driven by one commercial credit where a partial charge-off was taken and a specific reserve was allocated; the sponsor remains engaged and is working towards a resolution. Non-performing assets represented 0.39% of total assets as of June 30, 2026, an 11 basis point increase from March 31, 2026, and an 8 basis point increase from June 30, 2025.
Classified assets increased by $9.6 million compared to March 31, 2026, and increased by $50.3 million compared to June 30, 2025.
The allowance for credit losses was $164.2 million as of June 30, 2026, equal to 2.4 times the balance of non-performing loans and representing 1.24% of total portfolio loans.
First Busey Corporation (BUSE) | 2026 Q2 — 9
Busey’s net charge-offs and provision for credit losses were as follows:
NET CHARGE-OFFS (RECOVERIES) AND PROVISION EXPENSE (RELEASE) (unaudited)
| (dollars in thousands) | Three Months EndedJune 30, 2026 | Three Months EndedMarch 31, 2026 | Three Months EndedJune 30, 2025 | Six Months EndedJune 30, 2026 | Six Months EndedJune 30, 2025(i) |
|---|---|---|---|---|---|
| Net charge-offs | $6,382 | $7,362 | $12,881 | $13,744 | $44,310 |
| Provision for loan losses | $1,532 | $2,393 | $1,005 | $3,925 | $43,457 |
| Provision for unfunded commitments | 657 | 665 | 4,695 | 1,322 | 7,836 |
| Provision for credit losses | $2,189 | $3,058 | $5,700 | $5,247 | $51,293 |
| Net charge-off ratio(ii) | 0.19% | 0.22% | 0.37% | 0.21% | 0.75% |
(i)The six months ended June 30, 2025, included $42.4 million to establish an initial allowance for loan losses for loans purchased without credit deterioration (“non-PCD” loans) and $7.2 million to establish an initial allowance for unfunded commitments following the close of the CrossFirst acquisition in the first quarter of 2025 and adoption of a new CECL model in the second quarter of 2025.
(ii)Annualized measure.
Net charge-offs decreased by $1.0 million when compared to the first quarter of 2026, and decreased by $6.5 million when compared with the second quarter of 2025. Net charge-offs during the six months ended June 30, 2026, included $11.3 million related to PCD loans acquired in the CrossFirst acquisition, which were previously reserved for.
Deposits
Busey’s deposits were comprised of the following:
| (dollars in thousands) | As ofJune 30, 2026 | As ofMarch 31, 2026 | June 30, 2025 |
|---|---|---|---|
| DEPOSITS | |||
| Noninterest-bearing deposits | $3,496,319 | $3,526,036 | $3,590,363 |
| Interest-bearing transaction deposits | 3,315,200 | 3,129,186 | 3,216,601 |
| Savings deposits and money market deposits | 5,934,920 | 5,714,697 | 6,362,352 |
| Time deposits | 2,382,306 | 2,366,141 | 2,632,456 |
| Total deposits | $15,128,745 | $14,736,060 | $15,801,772 |
Busey’s loan to deposit ratio improved to 87.2% as of June 30, 2026, compared to 91.3% as of March 31, 2026. Core deposits² accounted for 93.7% of total deposits as of June 30, 2026. The quality of our core deposit franchise is a critical value driver of our institution. In addition to the $3.50 billion of noninterest-bearing deposits, we also have $1.91 billion of interest-bearing non-maturity deposits that are priced at 1 basis point, providing stable, rate inelastic funding. Busey has ample on- and off-balance sheet liquidity to manage deposit fluctuations and the liquidity needs of our customers.
Borrowings
In June 2026, Busey completed the previously announced redemption of its trust preferred securities issued by First Busey Statutory Trust II.
Liquidity
As of June 30, 2026, Busey’s available sources of on- and off-balance sheet liquidity⁵ totaled $8.85 billion. Furthermore, Busey’s balance sheet liquidity profile continues to be aided by the cash flows expected from Busey’s relatively short-duration securities portfolio. Those cash flows were approximately $103.2 million in the second quarter of 2026. Cash flows from our securities portfolio are expected to be approximately $171.9 million for the remainder of 2026, with a current book yield of 3.04%.
First Busey Corporation (BUSE) | 2026 Q2 — 10
Capital Strength
The strength of our balance sheet is also reflected in our robust capital foundation. The following table presents Busey’s capital estimates³ and tangible equity position:
| (dollars in thousands, except per share amounts) | As ofJune 30, 2026 | As ofMarch 31, 2026 | June 30, 2025 |
|---|---|---|---|
| Common equity Tier 1 capital to risk weighted assets(i) | 12.53% | 12.31% | 12.22% |
| Total capital to risk weighted assets(i) | 16.10% | 15.87% | 15.75% |
| Tangible common equity(ii) | $1,696,685 | $1,722,305 | $1,709,168 |
| Tangible common equity to tangible assets(ii) | 9.57% | 9.81% | 9.27% |
| Tangible book value per common share(ii) | $20.40 | $20.14 | $19.18 |
(i)Capital amounts and ratios as of June 30, 2026, are not yet finalized and are subject to change.
(ii)For a reconciliation of non-GAAP measures to the most directly comparable GAAP financial measures, see “Non-GAAP Financial Information.”
Dividends
Busey's strong capital levels, coupled with its earnings, have allowed it to provide a steady return to its stockholders through dividends. During the second quarter of 2026, Busey paid dividends of $0.26 per share on its outstanding shares of common stock. Busey also paid dividends of $20.00 per share on its outstanding shares of Series A Non-Cumulative Perpetual Preferred Stock and $0.515625 per share on its outstanding depositary shares, each representing a 1/40th interest in a share of Busey’s 8.25% Fixed-Rate Series B Non-Cumulative Perpetual Preferred Stock.
Share Repurchases
On May 20, 2026, Busey's board of directors approved an amendment to Busey’s previously adopted share repurchase program to increase the number of shares of Busey’s common stock available for repurchase by 4,000,000 shares. During the second quarter of 2026, under its stock repurchase plan, Busey purchased 2,340,000 shares of its common stock at a weighted average price of $26.98 per share for a total of $63.1 million (excluding excise taxes). As of June 30, 2026, Busey had 3,898,775 shares remaining available for repurchase under the plan.
SECOND QUARTER EARNINGS INVESTOR PRESENTATION
For additional information on Busey’s financial condition and operating results, please refer to our Q2 2026 Earnings Investor Presentation furnished via Form 8‑K on July 28, 2026, in connection with this earnings release.
CORPORATE PROFILE
As of June 30, 2026, First Busey Corporation (Nasdaq: BUSE) was an $18.19 billion financial holding company headquartered in Leawood, Kansas.
Busey Bank, a wholly-owned bank subsidiary of First Busey Corporation headquartered in Champaign, Illinois, had total assets of $18.15 billion as of June 30, 2026. Busey Bank currently has 80 banking centers, with 21 in central Illinois markets, 17 in suburban Chicago markets, 20 in the St. Louis Metropolitan Statistical Area, four in the Dallas-Fort Worth Metropolitan Statistical Area, three in the Kansas City Metropolitan Statistical Area, three in southwest Florida, three in Oklahoma, three in Colorado, three in Arizona, one in Indianapolis, Indiana, one in Wichita, Kansas, and one in Clayton, New Mexico. More information about Busey Bank can be found at busey.com.
Through Busey’s Wealth Management division, the Company provides a full range of asset management, investment, brokerage, fiduciary, philanthropic advisory, tax preparation, and farm management services to individuals, businesses, and foundations. Assets under care totaled $16.51 billion as of June 30, 2026. More information about Busey’s Wealth Management services can be found at busey.com/wealthmanagement.
First Busey Corporation (BUSE) | 2026 Q2 — 11
Busey Bank’s payment technology solutions specialize in the evolving financial technology needs of small and medium-sized businesses, highly regulated enterprise industries, and financial institutions. Busey provides comprehensive and innovative payment technology solutions, including online, mobile, and voice-recognition bill payments; money and data movement; merchant services; direct debit services; lockbox remittance processing for payments made by mail; and walk-in payments at retail agents. Additionally, Busey simplifies client workflows through integrations enabling support with billing, reconciliation, bill reminders, and treasury services.
Busey is honored to be consistently recognized as an outstanding financial services organization with an engaged culture of integrity and commitment to community development. Nationally, American Banker has named Busey a Best Bank to Work For since 2016 while Pensions and Investments has recognized Busey as a Best Place to Work in Money Management since 2018. At the local level, Busey is continually honored among the Best Places to Work in Illinois (since 2016), Best Companies to Work For in Florida (since 2017) and Best Places to Work in Indiana (since 2024).
NON-GAAP FINANCIAL INFORMATION
This earnings release contains certain financial information determined by methods other than GAAP. Management uses these non-GAAP measures, together with the related GAAP measures, in analysis of Busey’s performance and in making business decisions, as well as for comparison to Busey’s peers. Busey believes the adjusted measures are useful for investors and management to understand the effects of certain non-core and non-recurring items and provide additional perspective on Busey’s performance over time.
The following tables present reconciliations between these non-GAAP measures and what management believes to be the most directly comparable GAAP financial measures.
These non-GAAP disclosures have inherent limitations and are not audited. They should not be considered in isolation or as a substitute for operating results reported in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. Tax-effected numbers included in these non-GAAP disclosures are based on estimated statutory rates, estimated federal income tax rates, or effective tax rates, as noted in the tables below.
First Busey Corporation (BUSE) | 2026 Q2 — 12
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (Unaudited)
Calculation of Adjusted Net Income and Adjusted Diluted Earnings Per Common Share
| (dollars in thousands, except per share amounts) | Three Months EndedJune 30, 2026 | Three Months EndedMarch 31, 2026 | Three Months EndedJune 30, 2025 | Six Months EndedJune 30, 2026 | Six Months EndedJune 30, 2025 |
|---|---|---|---|---|---|
| Net income (GAAP) | $63,176 | $49,981 | $47,404 | $113,157 | $17,414 |
| Day 2 provision for credit losses(i) | — | — | — | — | 45,572 |
| Adjustment of initial provision for unfunded commitments due to adoption of new model(ii) | — | — | 4,030 | — | 4,030 |
| Other acquisition expenses | 1,196 | 5,244 | 16,600 | 6,440 | 42,626 |
| Restructuring expenses | 1,930 | 11,456 | — | 13,386 | — |
| Net securities (gains) losses | (2,445) | 940 | (5,997) | (1,505) | 9,771 |
| Related tax benefit(iii) | (170) | (4,410) | (4,971) | (4,580) | (27,040) |
| Non-recurring deferred tax adjustment(iv) | — | — | 328 | — | 4,919 |
| Adjusted net income (Non-GAAP) | 63,687 | 63,211 | 57,394 | 126,898 | 97,292 |
| Preferred dividends | 4,590 | 4,589 | 155 | 9,179 | 155 |
| Adjusted net income available to common stockholders (Non-GAAP) | $59,097 | $58,622 | $57,239 | $117,719 | $97,137 |
| Weighted average number of common shares outstanding, diluted (GAAP) | 85,385,382 | 87,831,295 | 90,883,711 | 86,602,278 | 80,251,577 |
| Diluted earnings per common share (GAAP) | $0.69 | $0.52 | $0.52 | $1.20 | $0.22 |
| Adjusted diluted earnings per common share (Non-GAAP) | $0.69 | $0.67 | $0.63 | $1.36 | $1.21 |
(i)The Day 2 provision represents the initial provision for credit losses recorded in connection with the CrossFirst acquisition to establish an allowance on non-PCD loans and unfunded commitments and is reflected within the provision for credit losses line on the Statements of Income.
(ii)In the second quarter of 2025, Busey recorded an adjustment to the initial provision for unfunded commitments for CrossFirst acquisition-date balances based on revised estimates resulting from implementation of a new CECL model.
(iii)Tax benefits were calculated using tax rates of 25.0% and 26.5% for the six months ended June 30, 2026 and 2025, respectively. Tax benefits for quarterly periods were calculated as the year-to-date tax amounts less the tax reported for previous quarters during the year.
(iv)A deferred tax valuation adjustment was recorded in the first quarter of 2025 in connection with the CrossFirst acquisition and the expansion of Busey’s footprint into new states. Additionally, 2025 included a write-off of deferred tax assets related to non-deductible compensation and acquisition-related expenses. Deferred tax adjustments are reflected within the income taxes line on the Statements of Income.
First Busey Corporation (BUSE) | 2026 Q2 — 13
Calculation of Return On Average Assets, Return On Average Tangible Common Equity, and Related Adjusted Return Measures
| (dollars in thousands) | Three Months EndedJune 30, 2026 | Three Months EndedMarch 31, 2026 | Three Months EndedJune 30, 2025 | Six Months EndedJune 30, 2026 | Six Months EndedJune 30, 2025 |
|---|---|---|---|---|---|
| Net income (GAAP) | $63,176 | $49,981 | $47,404 | $113,157 | $17,414 |
| Amortization of intangible assets | 4,232 | 4,291 | 4,592 | 8,523 | 7,675 |
| Tax effect of amortization of intangible assets(i) | (1,058) | (1,073) | (1,256) | (2,131) | (2,035) |
| Preferred dividends | (4,590) | (4,589) | (155) | (9,179) | (155) |
| Tangible net income available to common stockholders (Non-GAAP) | $61,760 | $48,610 | $50,585 | $110,370 | $22,899 |
| Adjusted net income (Non-GAAP)(ii) | $63,687 | $63,211 | $57,394 | $126,898 | $97,292 |
| Amortization of intangible assets | 4,232 | 4,291 | 4,592 | 8,523 | 7,675 |
| Tax effect of amortization of intangible assets(i) | (1,058) | (1,073) | (1,256) | (2,131) | (2,035) |
| Preferred dividends | (4,590) | (4,589) | (155) | (9,179) | (155) |
| Adjusted tangible net income available to common stockholders (Non-GAAP) | $62,271 | $61,840 | $60,575 | $124,111 | $102,777 |
| Average total assets | $17,887,097 | $18,060,220 | $19,068,086 | $17,973,180 | $16,961,396 |
| Return on average assets (Non-GAAP)(iii) | 1.42% | 1.12% | 1.00% | 1.27% | 0.21% |
| Adjusted return on average assets (Non-GAAP)(iii) | 1.43% | 1.42% | 1.21% | 1.42% | 1.16% |
| Average common equity | $2,183,290 | $2,255,075 | $2,180,963 | $2,218,984 | $2,057,372 |
| Average goodwill and other intangible assets, net | (474,043) | (478,885) | (494,473) | (476,450) | (452,978) |
| Average tangible common equity (Non-GAAP) | $1,709,247 | $1,776,190 | $1,686,490 | $1,742,534 | $1,604,394 |
| Return on average tangible common equity (Non-GAAP)(iii, iv) | 14.49% | 11.10% | 12.03% | 12.77% | 2.88% |
| Adjusted return on average tangible common equity (Non-GAAP)(iii, iv) | 14.61% | 14.12% | 14.41% | 14.36% | 12.92% |
(i)Tax effects were calculated using income tax rates of 25.0% and 26.5% for the six months ended June 30, 2026 and 2025, respectively. Tax effects for quarterly periods were calculated as the year-to-date tax amounts less the tax reported for previous quarters during the year.
(ii)A reconciliation is provided in the previous table.
(iii)Annualized measure.
(iv)Beginning in 2026, Busey revised, for all periods presented, its calculation of return on average tangible common equity and adjusted return on average tangible common equity to eliminate the effects of intangible asset amortization from the numerator of both calculations.
First Busey Corporation (BUSE) | 2026 Q2 — 14
Calculation of Net Interest Margin and Adjusted Net Interest Margin
| (dollars in thousands) | Three Months EndedJune 30, 2026 | Three Months EndedMarch 31, 2026 | Three Months EndedJune 30, 2025 | Six Months EndedJune 30, 2026 | Six Months EndedJune 30, 2025 |
|---|---|---|---|---|---|
| Net interest income (GAAP) | $152,402 | $153,969 | $153,183 | $306,371 | $256,914 |
| Tax-equivalent adjustment(i) | 841 | 877 | 791 | 1,718 | 1,328 |
| Tax-equivalent net interest income (Non-GAAP) | 153,243 | 154,846 | 153,974 | 308,089 | 258,242 |
| Purchase accounting accretion related to business combinations | (4,150) | (5,394) | (7,119) | (9,544) | (9,847) |
| Adjusted net interest income (Non-GAAP) | $149,093 | $149,452 | $146,855 | $298,545 | $248,395 |
| Average interest-earning assets (Non-GAAP) | $16,508,372 | $16,665,766 | $17,700,356 | $16,586,634 | $15,543,955 |
| Net interest margin (Non-GAAP)(ii) | 3.72% | 3.77% | 3.49% | 3.75% | 3.35% |
| Adjusted net interest margin (Non-GAAP)(ii) | 3.62% | 3.64% | 3.33% | 3.63% | 3.22% |
(i)Tax-equivalent adjustments were calculated using an estimated federal income tax rate of 21%, applied to non-taxable interest income on investments and loans.
(ii)Annualized measure.
Calculation of Pre-Provision Net Revenue and Related Measures
| (dollars in thousands) | Three Months EndedJune 30, 2026 | Three Months EndedMarch 31, 2026 | Three Months EndedJune 30, 2025 | Six Months EndedJune 30, 2026 | Six Months EndedJune 30, 2025 |
|---|---|---|---|---|---|
| Net interest income (GAAP) | $152,402 | $153,969 | $153,183 | $306,371 | $256,914 |
| Total noninterest income (GAAP) | 44,311 | 42,265 | 44,863 | 86,576 | 66,086 |
| Net security (gains) losses (GAAP) | (2,445) | 940 | (5,997) | (1,505) | 9,771 |
| Total noninterest expense (GAAP) | (112,635) | (129,519) | (127,833) | (242,154) | (239,863) |
| Pre-provision net revenue (Non-GAAP) | 81,633 | 67,655 | 64,216 | 149,288 | 92,908 |
| Acquisition and restructuring (income) expenses, excluding initial provision expenses | 3,126 | 16,700 | 16,600 | 19,826 | 42,626 |
| Adjusted pre-provision net revenue (Non-GAAP) | $84,759 | $84,355 | $80,816 | $169,114 | $135,534 |
| Average total assets | $17,887,097 | $18,060,220 | $19,068,086 | $17,973,180 | $16,961,396 |
| Pre-provision net revenue to average total assets (Non-GAAP)(i) | 1.83% | 1.52% | 1.35% | 1.67% | 1.10% |
| Adjusted pre-provision net revenue to average total assets (Non-GAAP)(i) | 1.90% | 1.89% | 1.70% | 1.90% | 1.61% |
(i)Annualized measure.
First Busey Corporation (BUSE) | 2026 Q2 — 15
Calculation of Efficiency Ratio
| (dollars in thousands) | Three Months EndedJune 30, 2026 | Three Months EndedMarch 31, 2026 | Three Months EndedJune 30, 2025 | Six Months EndedJune 30, 2026 | Six Months EndedJune 30, 2025 |
|---|---|---|---|---|---|
| Net interest income (GAAP) | $152,402 | $153,969 | $153,183 | $306,371 | $256,914 |
| Tax-equivalent adjustment(i) | 841 | 877 | 791 | 1,718 | 1,328 |
| Tax-equivalent net interest income (Non-GAAP) | 153,243 | 154,846 | 153,974 | 308,089 | 258,242 |
| Total noninterest income (GAAP) | 44,311 | 42,265 | 44,863 | 86,576 | 66,086 |
| Net security (gains) losses | (2,445) | 940 | (5,997) | (1,505) | 9,771 |
| Adjusted noninterest income (Non-GAAP) | $41,866 | $43,205 | $38,866 | $85,071 | $75,857 |
| Operating revenue (Non-GAAP) | $194,268 | $197,174 | $192,049 | $391,442 | $332,771 |
| Tax-equivalent operating revenue (Non-GAAP)(ii) | 195,109 | 198,051 | 192,840 | 393,160 | 334,099 |
| Adjusted noninterest income to operating revenue (Non-GAAP) | 21.55% | 21.91% | 20.24% | 21.73% | 22.80% |
| Total noninterest expense (GAAP) | $112,635 | $129,519 | $127,833 | $242,154 | $239,863 |
| Acquisition and restructuring expenses, excluding initial provision expenses | (3,126) | (16,700) | (16,600) | (19,826) | (42,626) |
| Adjusted noninterest expense (Non-GAAP)(iii) | 109,509 | 112,819 | 111,233 | 222,328 | 197,237 |
| Amortization of intangible assets | (4,232) | (4,291) | (4,592) | (8,523) | (7,675) |
| Adjusted noninterest expense excluding amortization of intangible assets (Non-GAAP)(iv) | $105,277 | $108,528 | $106,641 | $213,805 | $189,562 |
| Efficiency ratio (Non-GAAP)(v) | 53.96% | 54.80% | 55.30% | 54.38% | 56.74% |
(i)Tax-equivalent adjustments were calculated using an estimated federal income tax rate of 21%, applied to non-taxable interest income on investments and loans.
(ii)Beginning in 2026, Busey changed the caption for this revenue measure, which was previously called “adjusted tax-equivalent revenue.” The calculation itself has not changed.
(iii)Beginning in 2026, to better align with industry standards, Busey revised its calculation of adjusted noninterest expense, for all periods presented, to exclude any adjustment for amortization of intangible assets.
(iv)Beginning in 2026, Busey changed the caption for the efficiency ratio numerator from “adjusted noninterest expense” to “adjusted noninterest expense excluding amortization of intangible assets.” The calculation itself has not changed.
(v)Beginning in 2026, Busey now reports a single efficiency ratio, which was previously reported as the “adjusted efficiency ratio.”
First Busey Corporation (BUSE) | 2026 Q2 — 16
| Calculation of Tangible Common Equity, and Related Measures and Ratio(dollars in thousands, except per share amounts) | Calculation of Tangible Common Equity, and Related Measures and Ratio · As ofJune 30, 2026 | Calculation of Tangible Common Equity, and Related Measures and Ratio · As ofMarch 31, 2026 | June 30, 2025 |
|---|---|---|---|
| Total assets (GAAP) | $18,191,867 | $18,036,622 | $18,918,740 |
| Goodwill and other intangible assets, net | (471,288) | (475,520) | (488,181) |
| Tangible assets (Non-GAAP)(i) | $17,720,579 | $17,561,102 | $18,430,559 |
| Total stockholders’ equity (GAAP) | $2,383,170 | $2,413,022 | $2,412,546 |
| Preferred stock and additional paid in capital on preferred stock | (215,197) | (215,197) | (215,197) |
| Common equity | 2,167,973 | 2,197,825 | 2,197,349 |
| Goodwill and other intangible assets, net | (471,288) | (475,520) | (488,181) |
| Tangible common equity (Non-GAAP) | $1,696,685 | $1,722,305 | $1,709,168 |
| Tangible common equity to tangible assets (Non-GAAP) | 9.57% | 9.81% | 9.27% |
| Ending number of common shares outstanding (GAAP) | 83,189,501 | 85,507,160 | 89,104,678 |
| Book value per common share (Non-GAAP) | $26.06 | $25.70 | $24.66 |
| Tangible book value per common share (Non-GAAP) | $20.40 | $20.14 | $19.18 |
| Calculation of Core Deposits and Related Ratio(dollars in thousands) | Calculation of Core Deposits and Related Ratio · As ofJune 30, 2026 | Calculation of Core Deposits and Related Ratio · As ofMarch 31, 2026 | June 30, 2025 |
|---|---|---|---|
| Total deposits (GAAP) | $15,128,745 | $14,736,060 | $15,801,772 |
| Brokered deposits, excluding brokered time deposits of $250,000 or more | (60,043) | (60,123) | (353,614) |
| Time deposits of $250,000 or more | (896,354) | (865,493) | (827,762) |
| Core deposits (Non-GAAP) | $14,172,348 | $13,810,444 | $14,620,396 |
| Core deposits to total deposits (Non-GAAP) | 93.68% | 93.72% | 92.52% |
First Busey Corporation (BUSE) | 2026 Q2 — 17
END NOTES
| 1 | Annualized measure. |
| 2 | Represents a non-GAAP financial measure. For a reconciliation to the most directly comparable financial measure calculated and presented in accordance with Generally Accepted Accounting Principles (“GAAP”), see "Non-GAAP Financial Information.” |
| 3 | Capital amounts and ratios as of June 30, 2026, are not yet finalized and are subject to change. |
| 4 | The blended benchmark consists of 60% MSCI All Country World Index and 40% Bloomberg Intermediate US Government/Credit Total Return Index. |
| 5 | On- and off-balance sheet liquidity is comprised of cash and cash equivalents, debt securities excluding those pledged as collateral, brokered deposits, and Busey’s borrowing capacity through its revolving credit facility, the FHLB, the Federal Reserve Bank, and federal funds purchased lines. |
First Busey Corporation (BUSE) | 2026 Q2 — 19
FIRST BUSEY CORPORATION
11440 Tomahawk Creek Parkway, Leawood, KS 66211
NASDAQ: BUSE
Busey 2026 | All Rights Reserved
100 West University Avenue, Champaign, IL 61820
| Member FDIC | busey.com |