v3.26.1
LEASES
 6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
LEASES
NOTE 5. LEASES
Busey as the Lessee
Busey’s leases consist primarily of real estate leases for banking centers, ATM locations, and office space, as well as equipment leases. Lease-related balances that Busey reported on its Consolidated Balance Sheets (Unaudited) are presented in the table below:
As of
(dollars in thousands)LocationJune 30,
2026		December 31,
2025
Lease balances
Right of use assets:
Operating leases
Other assets
$30,735 $30,204 
Finance leases1
Premises and equipment, net
4,997 5,155 
Total right of use assets
$35,732 $35,359 
 
Lease liabilities:
Operating leases
Other liabilities
$34,422 $32,597 
Finance leases
Long-term borrowings
6,134 6,223 
Total lease liabilities
$40,556 $38,820 
___________________________________________
1.Balances are presented net of accumulated amortization of $0.4 million at June 30, 2026, and $0.3 million at December 31, 2025.
Lease terms are summarized in the following table:
As of
June 30,
2026		December 31,
2025
Lease terms
Weighted average remaining lease terms:
Operating leases7.23 years7.41 years
Finance leases15.76 years16.26 years
Weighted average discount rates:
Operating leases4.27 %4.24 %
Finance leases5.10 %5.10 %
Costs recorded in connection with these leases are summarized in the table below:
Three Months Ended June 30,Six Months Ended June 30,
(dollars in thousands)Location2026202520262025
Lease costs
Operating lease costs:
Premises rent expense
Net occupancy expense of premises$1,735 $1,788 $3,446 $2,738 
Equipment rent expense
Furniture and equipment expenses7 7 15 14 
Finance lease costs:
Amortization expense
Net occupancy expense of premises80 — 159 — 
Interest expense
Long-term borrowings77 — 155 — 
Variable lease costs
Net occupancy expense of premises9 15 19 30 
Short-term lease costs
Net occupancy expense of premises— 18 5 30 
Total lease cost
$1,908 $1,828 $3,799 $2,812 
Cash paid for amounts included in the measurement of lease liabilities is summarized in the table below:
Three Months Ended June 30,Six Months Ended June 30,
(dollars in thousands)2026202520262025
Cash flows related to leases
Operating cash flows from operating leases
$3,034 $2,996 $6,039 $4,555 
Operating cash flows from finance leases
77 — 155 — 
Financing cash flows from finance leases
45 — 90 — 
 
Right of use assets obtained in exchange for operating lease liabilities1
211 (1,115)3,459 29,618 
___________________________________________
1.The six months ended June 30, 2025, included $29.6 million right of use assets recognized in connection with the acquisition of CrossFirst.
Future undiscounted payments for leases with initial terms of one year or more are summarized in the table below:
As of
June 30, 2026
(dollars in thousands)Operating LeasesFinance Leases
Rent commitments
Remainder of 2026$3,439 $245 
20276,572 528 
20286,049 540 
20295,075 540 
20304,184 540 
20313,942 540 
Thereafter10,948 6,085 
Total undiscounted cash flows40,209 9,018 
Less: Amounts representing interest5,787 2,884 
Present value of net future minimum lease payments$34,422 $6,134 
As of June 30, 2026, Busey had commitments totaling $1.7 million for one lease contract with a future accounting commencement date.
Busey as the Lessor
Busey leases space to outside parties, consisting of operating leases primarily for offices and parking areas. Revenues recorded in connection with these leases are summarized in the table below:
Three Months Ended June 30,Six Months Ended June 30,
(dollars in thousands)Location2026202520262025
Rental incomeOther noninterest income$217 $217 $431 $433 
Contractual terms for these leases extend through 2036. Under the terms of these lease agreements, Busey is entitled to receive aggregate future lease payments as shown in the table below:
(dollars in thousands)As of
June 30, 2026
Rents to be received
Remainder of 2026$429 
2027634 
2028471 
2029273 
2030193 
203154 
Thereafter183 
Total lease payments from operating leases$2,237 
LEASES
NOTE 5. LEASES
Busey as the Lessee
Busey’s leases consist primarily of real estate leases for banking centers, ATM locations, and office space, as well as equipment leases. Lease-related balances that Busey reported on its Consolidated Balance Sheets (Unaudited) are presented in the table below:
As of
(dollars in thousands)LocationJune 30,
2026		December 31,
2025
Lease balances
Right of use assets:
Operating leases
Other assets
$30,735 $30,204 
Finance leases1
Premises and equipment, net
4,997 5,155 
Total right of use assets
$35,732 $35,359 
 
Lease liabilities:
Operating leases
Other liabilities
$34,422 $32,597 
Finance leases
Long-term borrowings
6,134 6,223 
Total lease liabilities
$40,556 $38,820 
___________________________________________
1.Balances are presented net of accumulated amortization of $0.4 million at June 30, 2026, and $0.3 million at December 31, 2025.
Lease terms are summarized in the following table:
As of
June 30,
2026		December 31,
2025
Lease terms
Weighted average remaining lease terms:
Operating leases7.23 years7.41 years
Finance leases15.76 years16.26 years
Weighted average discount rates:
Operating leases4.27 %4.24 %
Finance leases5.10 %5.10 %
Costs recorded in connection with these leases are summarized in the table below:
Three Months Ended June 30,Six Months Ended June 30,
(dollars in thousands)Location2026202520262025
Lease costs
Operating lease costs:
Premises rent expense
Net occupancy expense of premises$1,735 $1,788 $3,446 $2,738 
Equipment rent expense
Furniture and equipment expenses7 7 15 14 
Finance lease costs:
Amortization expense
Net occupancy expense of premises80 — 159 — 
Interest expense
Long-term borrowings77 — 155 — 
Variable lease costs
Net occupancy expense of premises9 15 19 30 
Short-term lease costs
Net occupancy expense of premises— 18 5 30 
Total lease cost
$1,908 $1,828 $3,799 $2,812 
Cash paid for amounts included in the measurement of lease liabilities is summarized in the table below:
Three Months Ended June 30,Six Months Ended June 30,
(dollars in thousands)2026202520262025
Cash flows related to leases
Operating cash flows from operating leases
$3,034 $2,996 $6,039 $4,555 
Operating cash flows from finance leases
77 — 155 — 
Financing cash flows from finance leases
45 — 90 — 
 
Right of use assets obtained in exchange for operating lease liabilities1
211 (1,115)3,459 29,618 
___________________________________________
1.The six months ended June 30, 2025, included $29.6 million right of use assets recognized in connection with the acquisition of CrossFirst.
Future undiscounted payments for leases with initial terms of one year or more are summarized in the table below:
As of
June 30, 2026
(dollars in thousands)Operating LeasesFinance Leases
Rent commitments
Remainder of 2026$3,439 $245 
20276,572 528 
20286,049 540 
20295,075 540 
20304,184 540 
20313,942 540 
Thereafter10,948 6,085 
Total undiscounted cash flows40,209 9,018 
Less: Amounts representing interest5,787 2,884 
Present value of net future minimum lease payments$34,422 $6,134 
As of June 30, 2026, Busey had commitments totaling $1.7 million for one lease contract with a future accounting commencement date.
Busey as the Lessor
Busey leases space to outside parties, consisting of operating leases primarily for offices and parking areas. Revenues recorded in connection with these leases are summarized in the table below:
Three Months Ended June 30,Six Months Ended June 30,
(dollars in thousands)Location2026202520262025
Rental incomeOther noninterest income$217 $217 $431 $433 
Contractual terms for these leases extend through 2036. Under the terms of these lease agreements, Busey is entitled to receive aggregate future lease payments as shown in the table below:
(dollars in thousands)As of
June 30, 2026
Rents to be received
Remainder of 2026$429 
2027634 
2028471 
2029273 
2030193 
203154 
Thereafter183 
Total lease payments from operating leases$2,237