v3.26.1
DEBT SECURITIES (Tables)
 6 Months Ended
Jun. 30, 2026
Investments, Debt and Equity Securities [Abstract]  
Schedule of Amortized Cost, Unrealized or Unrecognized Gains and Losses and Fair Values of Securities Classified Available for Sale and Held to Maturity The tables below provide the amortized cost, unrealized or unrecognized gains and losses, and fair values of debt securities, summarized by major category:
As of June 30, 2026
(dollars in thousands)
Amortized
Cost
Unrealized
Fair
Value
Gross Gains
Gross Losses
Debt securities available for sale1
Obligations of U.S. government corporations and agencies
$106,962 $— $(1,191)$105,771 
Obligations of states and political subdivisions
276,467 2,894 (10,384)268,977 
Asset-backed securities
227,166 58 (218)227,006 
Commercial mortgage-backed securities
160,834 116 (11,828)149,122 
Residential mortgage-backed securities
1,604,567 3,435 (135,420)1,472,582 
Corporate debt securities
43,027 313 (1,631)41,709 
Total debt securities available for sale$2,419,023 $6,816 $(160,672)$2,265,167 
Amortized
Cost
Unrecognized
Fair
Value
Gross Gains
Gross Losses
Debt securities held to maturity
Commercial mortgage-backed securities
$340,073 $— $(66,792)$273,281 
Residential mortgage-backed securities
363,915 — (57,893)306,022 
Total debt securities held to maturity$703,988 $— $(124,685)$579,303 
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1.This table includes debt securities marked at par, with no gain or loss.
As of December 31, 2025
(dollars in thousands)
Amortized
Cost
Unrealized
Fair
Value
Gross Gains
Gross Losses
Debt securities available for sale1
Obligations of U.S. government corporations and agencies
$111,876 $250 $(80)$112,046 
Obligations of states and political subdivisions
270,682 3,089 (9,898)263,873 
Asset-backed securities
265,203 412 (35)265,580 
Commercial mortgage-backed securities
143,522 611 (11,191)132,942 
Residential mortgage-backed securities
1,464,347 9,336 (129,267)1,344,416 
Corporate debt securities
45,215 187 (1,711)43,691 
Total debt securities available for sale
$2,300,845 $13,885 $(152,182)$2,162,548 
Amortized
Cost
Unrecognized
Fair
Value
Gross Gains
Gross Losses
Debt securities held to maturity
Commercial mortgage-backed securities
$367,825 $— $(65,210)$302,615 
Residential mortgage-backed securities
378,560 — (55,218)323,342 
Total debt securities held to maturity
$746,385 $— $(120,428)$625,957 
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1.This table includes debt securities marked at par, with no gain or loss.
Schedule of Maturities of Debt Securities All mortgage-backed securities were issued by U.S. government corporations and agencies.
As of June 30, 2026
(dollars in thousands)Amortized
Cost		Fair
Value
Debt securities available for sale
Due in one year or less$7,849 $7,840 
Due after one year through five years97,382 93,388 
Due after five years through ten years341,119 323,752 
Due after ten years1,972,673 1,840,187 
Debt securities available for sale$2,419,023 $2,265,167 
 
Debt securities held to maturity
Due in one year or less$3,956 $3,945 
Due after one year through five years34,434 33,093 
Due after ten years665,598 542,265 
Debt securities held to maturity$703,988 $579,303 
Schedule of Gains and Losses on Debt Securities Available for Sale
Realized gains and losses related to sales and calls of debt securities available for sale are summarized as follows:
Three Months Ended June 30,Six Months Ended June 30,
(dollars in thousands)2026202520262025
Realized gains and losses on debt securities
Gross gains on debt securities
$— $1 $24 $9 
Gross losses on debt securities1
— — (1)(15,545)
Realized net gains (losses) on debt securities$— $1 $23 $(15,536)
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1.During the first quarter of 2025, Busey sold available for sale debt securities with a book value of approximately $205.6 million for a pre-tax loss of $15.5 million and related estimated tax benefit of $4.3 million, as part of a balance sheet repositioning strategy.
Schedule of Debt Securities in an Unrealized or Unrecognized Loss Position
The following information pertains to debt securities with gross unrealized or unrecognized losses, aggregated by investment category and the length of time that individual securities have been in a continuous loss position:
As of June 30, 2026
Less than 12 months12 months or moreTotal
(dollars in thousands)Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses
Debt securities available for sale
Obligations of U.S. government corporations and agencies1
$105,744 $(1,191)$27 $— $105,771 $(1,191)
Obligations of states and political subdivisions
38,558 (461)91,385 (9,923)129,943 (10,384)
Asset-backed securities162,814 (218)— — 162,814 (218)
Commercial mortgage-backed securities62,252 (447)72,914 (11,381)135,166 (11,828)
Residential mortgage-backed securities374,254 (4,401)716,307 (131,019)1,090,561 (135,420)
Corporate debt securities2,486 (4)23,150 (1,627)25,636 (1,631)
Debt securities available for sale with gross unrealized losses$746,108 $(6,722)$903,783 $(153,950)$1,649,891 $(160,672)
Fair
Value		Unrecognized
Losses		Fair
Value		Unrecognized
Losses
Debt securities held to maturity
Commercial mortgage-backed securities$273,281 $(66,792)$273,281 $(66,792)
Residential mortgage-backed securities306,022 (57,893)306,022 (57,893)
Debt securities held to maturity with gross unrecognized losses$579,303 $(124,685)$579,303 $(124,685)
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1.Losses on securities in a continuous loss position for 12 months or more were immaterial, rounding to zero thousand.
As of December 31, 2025
Less than 12 months12 months or moreTotal
(dollars in thousands)Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses
Debt securities available for sale
Obligations of U.S. government corporations and agencies
$39,156 $(80)$— $— $39,156 $(80)
Obligations of states and political subdivisions
28,592 (361)92,205 (9,537)120,797 (9,898)
Asset-backed securities
10,005 (35)— — 10,005 (35)
Commercial mortgage-backed securities
4,986 (48)71,830 (11,143)76,816 (11,191)
Residential mortgage-backed securities
84,023 (708)765,361 (128,559)849,384 (129,267)
Corporate debt securities
5,969 (20)29,097 (1,691)35,066 (1,711)
Debt securities available for sale with gross unrealized losses$172,731 $(1,252)$958,493 $(150,930)$1,131,224 $(152,182)
Fair
Value		Unrecognized
Losses		Fair
Value		Unrecognized
Losses
Debt securities held to maturity
Commercial mortgage-backed securities
$302,615 $(65,210)$302,615 $(65,210)
Residential mortgage-backed securities
323,342 (55,218)323,342 (55,218)
Debt securities held to maturity with gross unrecognized losses$625,957 $(120,428)$625,957 $(120,428)
Additional information about debt securities in an unrealized or unrecognized loss position is presented in the tables below:
As of June 30, 2026
(dollars in thousands)Available for Sale Held to Maturity Total
Debt securities with gross unrealized or unrecognized losses, fair value$1,649,891 $579,303 $2,229,194 
Gross unrealized or unrecognized losses on debt securities160,672 124,685 285,357 
Ratio of gross unrealized or unrecognized losses to debt securities with gross unrealized or unrecognized losses9.7 %21.5 %12.8 %
 
Count of debt securities665 52 717 
Count of debt securities in an unrealized or unrecognized loss position463 52 515 
As of December 31, 2025
(dollars in thousands)Available for Sale Held to MaturityTotal
Debt securities with gross unrealized or unrecognized losses, fair value$1,131,224 $625,957 $1,757,181 
Gross unrealized or unrecognized losses on debt securities152,182 120,428 272,610 
Ratio of gross unrealized or unrecognized losses to debt securities with gross unrealized or unrecognized losses13.5 %19.2 %15.5 %
 
Count of debt securities637 52 689 
Count of debt securities in an unrealized or unrecognized loss position376 52 428