Slide 1: Q1 2025 Earnings Investor Presentation
Q1 2025 EARNINGS INVESTOR PRESENTATION April 22, 2025
Slide 2: Forward-Looking Statements
1Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 2 Forward-Looking Statements Forward-Looking Statements This presentation may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to First Busey Corpora
Slide 3: Table of Contents
1Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 3 Table of Contents Overview of First Busey Corporation (BUSE) 4 1Q25 Review 5 Appendix: 29 Investment Highlights 6 Experienced Management Team 30 Diversified Company with Comprehensive & Innovative 7 Fully Integrated Wealth
Slide 4: Overview of First Busey Corporation (BUSE)
1Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 4 Overview of First Busey Corporation (NASDAQ: BUSE) 1 Premier Commercial Banking Franchise $19.5 Billion $1.8 Billion Total Assets Market Cap Full-service Trust Company $13.7 Billion 14.9% 157+ year old financial institution
Slide 5: 1Q25 Review
1Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 5 1Q25 Review 1Q25 Key Initiatives ▪ Closed TBV-accretive acquisition of CrossFirst Bankshares on Transaction Strategic Highlights 3/1/25, growing BUSE’s assets from $12.0 billion to $19.5 billion ▪ Enhances Busey’s growth pr
Slide 6: Investment Highlights
1Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 6 Investment Highlights Financial Highlights Powerful Combination of Banking, Wealth, and Payments Business Lines 2025 YTD KRXMRQ Median 2023 2024 $ in millions ▪ Sizable business lines provide for a full suite of solutions f
Slide 7: Diversified Company with Comprehensive & Innovative Financial Solutions
1Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 7 Diversified Company with Comprehensive & Innovative Financial Solutions 1 Payment platform that enables the Full suite of diversified financial Wealth & asset management services collection of payments across a products for
Slide 8: Closed Acquisition of CrossFirst Bankshares
1Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 8 Closed Acquisition of CrossFirst Bankshares Financial TBV Accretive 18%+ 17%+ $600+ million Impacts at CrossFirst outperformed consensus earnings 2026 EPS Accretion 2026 EPS Accretion Excess Capital above estimates and fair
Slide 9: Combined Markets Ripe for Growth
1Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 9 Combined Markets Ripe for Growth 1 9 1 Market Nominal GDP as of 2023 per FRED, Federal Reserve Bank of St. Louis | Note: Does not include markets with populations under 500,000 Source: S&P Capital IQ Pro; Census.gov; BEA.go
Slide 10: Compelling Regional Operating Model
1Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 10 Compelling Regional Operating Model Integrated enterprise-wide go-to-market strategy focused on combining the power of commercial & wealth to provide a broad set of financial solutions to well-capitalized individuals and t
Slide 11: Earnings Performance
1Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 11 Earnings Performance 1 1 Adjusted Net Income & Earnings Per Share Adjusted ROATCE & Adjusted ROAA $ in millions $39.9 2026 12.9% 13.2% +18% 11.9% Pro Forma 3 Proj. ROATCE: $32.9 2026 Projected 11.2% $30.5 $30.9 EPS Accreti
Slide 12: Fortress Balance Sheet
1Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 12 Fortress Balance Sheet ▪ Diversified portfolio, by sector and geographically, conservatively underwritten with low levels of concentration High Quality, Resilient ▪ Granular commercial portfolio, with average commercial lo
Slide 13: High Quality, Diversified Loan Portfolio
1Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 13 High Quality, Diversified Loan Portfolio 1Q25 Net Classified MRQ Yield on New Funding Loans /1 Loan Portfolio Composition Loans Yield Capital 5.76% 6.91% 8.4% 4Q24 HELOC 3% 1Q25 HELOC 2% Other +20 bps vs. 4Q24 Other 4% 6%
Slide 14: High Quality Loan Portfolio: CRE
1Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 14 High Quality Loan Portfolio: CRE 1 Investor Owned CRE Loans by Property Type Owner Occupied CRE Loans by Property Type $ in millions 3/31/25 $ in millions 3/31/25 3/31/25 % of Total Classified 3/31/25 % of Total Classified
Slide 15: High Quality Loan Portfolio: C&I
1Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 15 High Quality Loan Portfolio: C&I C&I Loans by Sector ▪ 32.1% of total loan portfolio $ in millions 3/31/25 3/31/25 % of Total Classified NAICS Sector Balances Loans Balances ▪ CrossFirst Bank contributed 54% of total C&I l
Slide 16: Credit Profile Bolstered by Strong Reserves
1Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 16 Credit Profile Bolstered by Strong Reserves 1.41% Allowance to Loans $42.4 $0.0 1.08% $100.8 $195.2 -$29.6 -$1.8 Allowance Remaining CECL provision Comprises thirteen provision booked NCOs during to Loans expense on CrossF
Slide 17: Pristine Credit Quality
1Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 17 Pristine Credit Quality 1 Classifieds / Capital $ in millions ▪ Conservative underwriting structures have resulted in a legacy Bank Tier 1 Capital + ACL Classified/Capital of pristine credit quality ▪ Strong portfolio mana
Slide 18: Top Tier Core Deposit Franchise
1Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 18 Top Tier Core Deposit Franchise Deposit Portfolio Composition 4Q24 1Q25 Int DDA Core Deposits 1 24% Int DDA 19% 90% MRQ Avg Cost Total of Total Deposits Total Non-Int Deposits: Deposits: 1.91% DDA 27% $10.0 Savings & Non-I
Slide 19: Deposit Cost Trends
1Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 19 Deposit Cost Trends Historical Cost of Deposits, 1Q15 - 1Q25 BUSE Cost of Deposits Effective Fed Funds Rate (Qtr Avg)¹ 6.0% 5.5% 5.0% Historically, cost of deposits has run at ~30% of Fed Funds over the last three cycles 4
Slide 20: Net Interest Margin
1Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 20 Net Interest Margin 1 1 Net Interest Income Trend Net Interest Margin Trend $ in millions 5.08% $104.3 4.83% 4.90% 4.75% 4.62% $2.8 2025 Q2 $82.9 $83.0 $82.0 Projected NIM: $76.3 3.16% 3.03% 3.02% $0.2 $0.8 $1.3 $0.8 2.79%
Slide 21: Diversified and Significant Sources of Fee Income
1Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 21 Diversified and Significant Sources of Fee Income 1 ▪ Noninterest income represented 26% of revenue in 1Q25 Adjusted Noninterest Income / Operating Revenue (excluding net securities losses) $ in millions $140.7 ▪ Wealth ma
Slide 22: Wealth Management
1Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 22 Wealth Management 1 Wealth - Revenue and Pre-tax Income ▪ Assets Under Care (AUC) of $13.7 billion, a QoQ decrease of $0.2 billion and a YoY increase of $0.9 billion, or +7% $ in millions $17.6 $17.0 $15.7 $16.1 $16.2 ▪ 1Q
Slide 23: FirsTech
1Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 23 FirsTech ▪ Last twelve months segment revenue at $22.5 million, a decrease of 2% over the prior twelve-month period $22.5 LTM Revenue 1 Integrated Merchant Processing million Receivables 24% 21% ▪ 1Q25 segment revenue of $
Slide 24: Balanced, Low-Risk, Short Duration Investment Portfolio
1Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 24 Balanced, Low-Risk, Short Duration Investment Portfolio Investment Portfolio Composition 4Q24 1Q25 AFS % of Amortized Cost Duration CMOs CMOs 75% 4.4 years 33% 30% HTM % of Modified Duration Municipals Amortized Cost (ex-H
Slide 25: 1Q25 Balance Sheet Repositioning
1Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 25 1Q25 Balance Sheet Repositioning Legacy Busey strategic balance sheet repositioning ▪ $203 million of available-for-sales securities sold in late March Securities Sold ▪ Pre-tax loss of $15.5 million ▪ Approximate yield of
Slide 26: Actively Managing Well-Positioned Balance Sheet
1Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 26 Actively Managing Well-Positioned Balance Sheet ▪ Balance sheet well-positioned for rate neutrality Annual % Change in Net Interest Income ▪ A +100 bps rate shock for Year 1 is +1.8% vs. +2.0% in 4Q24 under Shock Scenarios
Slide 27: Focused Control on Expenses
1Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 27 Focused Control on Expenses Noninterest Expense $ in millions ▪ Continue to be mindful and diligent on expenses in Expenses ex-Acq. Acquistion & Restruct. Exp. Adj. Efficiency Ratio¹ the current operating environment; focu
Slide 28: Robust Capital Foundation
1Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 28 Robust Capital Foundation 1 2 2 Tangible Common Equity & CET1 Ratios Total Capital Ratio $ in millions $ in millions $2,325 14.1% $761 13.8% $1,676 13.4% 13.2% 12.0% $1,556 $1,589 $1,610 $1,626 $681 $725 $749 $1,563 $689 $
Slide 29: Appendix
Appendix Busey , FIRST BUSEY CORPORATION
Slide 30: Experienced Management Team
1Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 30 Experienced Management Team Van A. Dukeman Mike J. Maddox Chairman & CEO of Vice Chairman & President of Amy L. Randolph First Busey Corporation First Busey Corporation EVP & Chief Operating Officer Chairman of Busey Bank
Slide 31: Fully Integrated Wealth Platform
1Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 31 Fully Integrated Wealth Platform $13.7 Billion $66.8 Million 45.8% 1 As of 3/31/25 Assets Under Care LTM Revenue PT Margin LTM I. Client-Focused Strategy II. Team-Based Approach III. Comprehensive Wealth Management Core Tr
Slide 32: FirsTech, A Uniquely Positioned Payment Technology Company
1Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 32 FirsTech, A Uniquely Positioned Payment Technology Company $11 Billion 45 Million $22.5 Million 1 As of 3/31/25 Payments Processed LTM Transactions Processed LTM LTM Revenue Payments Segments Integrated Receivables Electro
Slide 33: FirsTech, A Uniquely Positioned Payment Technology Company
1Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 33 FirsTech, A Uniquely Positioned Payment Technology Company Verticals & Products Through continued growth of the Busey/FirsTech relationship and new opportunities for collaboration, FirsTech is uniquely positioned to levera
Slide 34: Purchase Accounting Projections
1Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 34 Purchase Accounting Projections Estimated accretion schedule of loan discounts based on anticipated contractual cash flows assuming forward curve In addition to CrossFirst Bankshares acquisition completed 3/1/25, these pro
Slide 35: Non-GAAP Financial Information
1Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 35 Non-GAAP Financial Information This presentation contains certain financial information determined by methods other than U.S. Generally Accepted Accounting Principles (“GAAP”). Management uses these non-GAAP measures, toge
Slide 36: Non-GAAP Financial Information (Unaudited)
1Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 36 Non-GAAP Financial Information (Unaudited) Pre-Provision Net Revenue and Related Measures Three Months Ended March 31, December 31, March 31, (dollars in thousands) 2025 2024 2024 Net interest income (GAAP) $ 103,731 $ 81,
Slide 37: Non-GAAP Financial Information (Unaudited)
1Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 37 Non-GAAP Financial Information (Unaudited) Adjusted Net Income, Average Tangible Common Equity, and Related Ratios Three Months Ended March 31, December 31, March 31, (dollars in thousands, except per share amounts) 2025 2
Slide 38: Non-GAAP Financial Information (Unaudited)
1Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 38 Non-GAAP Financial Information (Unaudited) Tax-Equivalent Net Interest Income, Adjusted Net Interest Income, Net Interest Margin, and Adjusted Net Interest Margin Three Months Ended March 31, December 31, March 31, (dollar
Slide 39: Non-GAAP Financial Information (Unaudited)
1Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 39 Non-GAAP Financial Information (Unaudited) Adjusted Noninterest Income, Revenue Measures, Adjusted Noninterest Expense, Efficiency Ratios, and Adjusted Noninterest Expense to Average Assets Three Months Ended March 31, Dec
Slide 40: Non-GAAP Financial Information (Unaudited)
1Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 40 Non-GAAP Financial Information (Unaudited) Tangible Assets, Tangible Common Equity, and Related Measures and Ratio As of March 31, December 31, March 31, (dollars in thousands, except per share amounts) 2025 2024 2024 Tota