Slide 1: Investor Presentation May 2022
May 2022 INVESTOR PRESENTATION
Slide 2: Special Note Concerning Forward-Looking Statements
2 2 Ticker: BUSE Special Note Concerning Forward-Looking Statements Statements made in this document, other than those concerning historical financial information, may be considered forward- looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to
Slide 3: Non-GAAP Financial Information
3 3 Ticker: BUSE Non-GAAP Financial Information This document contains certain financial information determined by methods other than U.S. Generally Accepted Accounting Principles (“GAAP”). Management uses these non-GAAP measures, together with the related GAAP measures, in analysis of the Company’s
Slide 4: Table of Contents
4 4 Ticker: BUSE Table of Contents Overview of First Busey Corporation (BUSE) 5 Investment Highlights 6 Experienced Management Team 7 Strong Regional Operating Model 8 Sizable Business Lines Provide for Innovative Solutions 9 High Quality & Growing Loan Portfolio 10 Top Tier Core Deposit Franchise 1
Slide 5: Overview of First Busey Corporation (BUSE)
5 5 Ticker: BUSE Unwavering Focus on 4 Pillars: ASSOCIATES, CUSTOMERS, COMMUNITIES AND SHAREHOLDERS Overview of First Busey Corporation (BUSE) Company Overview Financial Highlights (1) Non-GAAP calculation, see Appendix Among the Best + 150+ year old financial institution headquartered in CHAMPAIGN,
Slide 6: Investment Highlights
6 6 Ticker: BUSE Investment Highlights ▪ 58 branches across four states: Illinois, Missouri, Indiana, and Florida ▪ Premier commercial bank, wealth management, and payment technology solutions for individuals and businesses ▪ Attractive core deposit to total deposit ratio (98.7%)(1) and low cost of
Slide 7: Experienced Management Team
7 7 Ticker: BUSE Joined Busey in 2006 and led various finance functions prior to serving as CFO/COO and now Bank President/CEO. Mr. Elliott has played instrumental roles in executing various strategic and growth initiatives. Before joining Busey, Mr. Elliott worked for Ernst & Young. Has served as P
Slide 8: Strong Regional Operating Model
8 8 Ticker: BUSE Banking Centers: 3 Deposits: $442.5MM Avg. Deposits Per Branch: $147.5MM 2022-27 Pop. Growth: 5.9% versus U.S. avg. 3.2% Banking Centers: 20 Deposits: $2.9B Avg. Deposits Per Branch: $143.2MM 2022 Pop: 2.8 Million Four distinct operating regions provide for attractive mix of custome
Slide 9: Sizable Business Lines Provide for Innovative Solutions
9 9 Ticker: BUSE (1) LTM total payments processed as of 1Q2022 (2) Busey Bank segment, excluding Wealth Management & FirsTech; excludes intracompany eliminations and consolidations as of 1Q2022 (3) Wealth Management segment as of 1Q2022 (4) FirsTech segment; Non-GAAP calculation, excludes intracompa
Slide 10: High Quality & Growing Loan Portfolio
1010 Ticker: BUSE $1,545 $1,664 $1,754 $1,869 $1,875 $2,913 $2,920 $3,069 $3,120 $3,135 $423 $501 $431 $386 $445 $1,376 $1,710 $1,719 $1,739 $1,786 $6,257 $6,795 $6,972 $7,114 $7,241 $0 $1,000,000 $2,000,000 $3,000,000 $4,000,000 $5,000,000 $6,000,000 $7,000,000 $8,000,000 1Q21 2Q21 3Q21 4Q21 1Q22 C
Slide 11: Top Tier Core Deposit Franchise
11 11 Ticker: BUSE Top Tier Core Deposit Franchise Deposit Portfolio Composition – Q1 2022 Historical Cost of Deposits, 2015 - Q1 2022 (1) Total Deposits & Loan to Deposit Ratio Core Deposits (2) / Total Deposits (1) Quarterly effective fed funds per FRED, avg during quarter, not seasonally adjusted
Slide 12: Fully Integrated Wealth Management Platform
1212 Ticker: BUSE Fully Integrated Wealth Management Platform Six Distinct Teams Our wealth management business provides effective and high-touch solutions for high-net-worth individuals. Our clients work with a dedicated team of financial professionals, with each team member bringing their speciali
Slide 13: FirsTech Growth and Expansion of Services
1313 Ticker: BUSE Multi-Layered Payment Technology Solutions Platform FirsTech Growth and Expansion of Services Payment Technology Solutions Platform ▪ FirsTech’s payments platform provides custom payment technology solutions through a comprehensive suite of capabilities ▪ Mobile bill pay, walk-in p
Slide 14: Diversified and Significant Sources of Fee Income
1414 Ticker: BUSE ▪ Resilient, varied, and complimentary sources of fee income provide revenue diversification with heightened value amidst cycle of margin compression ▪ Noninterest income represented 34.2% of revenue (ex-securities losses) in 1Q22 ▪ Key businesses of wealth management and payment t
Slide 15: Quarterly Earnings Review
15 15 Ticker: BUSE ▪ Net interest income was $70.1 million in 1Q22 vs. $70.5 million in 4Q21 and $64.9 million in 1Q21 ▪ $1.1 million less net interest income QoQ due to two fewer days in 1Q22 than 4Q21 ▪ Net interest margin was 2.45% in 1Q22, an increase of 9 bps vs. 2.36% in 4Q21 ▪ Adjusted net in
Slide 16: Earnings Performance
1616 Ticker: BUSE $42.8 $37.5 $39.4 $41.1 $39.4 1.64% 1.32% 1.23% 1.27% 1.26% 2021 Q1 2021 Q2 2021 Q3 2021 Q4 2022 Q1 Adj. PPNR Adj. PPNR / Avg Assets $ in millions Earnings Performance (1) Non-GAAP calculation, see Appendix (2) Historical key rates per quarterly Stifel dispatch Adjusted ROAA & ROAT
Slide 17: Net Interest Margin
17 17 Ticker: BUSE $58.6 $59.1 $64.4 $66.4 $68.1 $2.2 $1.7 $1.8 $1.5 $1.2 $4.8 $4.3 $5.2 $3.3 $1.3 $65.5 $65.1 $71.4 $71.1 $70.6 $62.0 $63.0 $64.0 $65.0 $66.0 $67.0 $68.0 $69.0 $70.0 $71.0 $72.0 $45.0 $50.0 $55.0 $60.0 $65.0 $70.0 $75.0 2021 Q1 2021 Q2 2021 Q3 2021 Q4 2022 Q1 Net Interest Income Acc
Slide 18: Interest Rate Risk Management & Sensitivity
1818 Ticker: BUSE ▪ First Busey has an asset-liability committee, whose policy is to meet at least quarterly, to review current market conditions and to structure the Consolidated Balance Sheets to optimize stability in net interest income in consideration of projected future changes in interest rat
Slide 19: Focused Control on Expenses
1919 Ticker: BUSE 54.7 61.7 67.3 64.4 63.0 54.3 58.9 59.0 59.1 62.2 52.0 58.1 58.7 57.6 59.9 50.0 52.0 54.0 56.0 58.0 60.0 62.0 64.0 66.0 68.0 70.0 2021 Q1 2021 Q2 2021 Q3 2021 Q4 2022 Q1 Reported Efficiency Ratio Adjusted Efficiency Ratio Core Adj. Efficiency Ratio $54.5 $62.6 $73.5 $71.2 $70.4 $49
Slide 20: Fortress Balance Sheet
2020 Ticker: BUSE ▪ TCE/TA ratio of 7.01% at 3/31/22 (1) ▪ Capital ratios significantly in excess of well-capitalized minimums ▪ Total RBC of 15.8% and CET1 ratio of 11.9% at 3/31/22 (2) ▪ TBV per share of $15.29 at 3/31/22 (1) ▪ Diversified portfolio, conservatively underwritten with low levels of
Slide 21: Robust Capital Foundation
2121 Ticker: BUSE $919 $982 $971 $959 $856 8.8% 8.2% 7.8% 7.7% 7.0% 12.8% 12.3% 12.0% 11.8% 11.9% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% $600 $650 $700 $750 $800 $850 $900 $950 $1,000 $1,050 2021 Q1 2021 Q2 2021 Q3 2021 Q4 2022 Q1 TCE TCE Ratio CET1 Ratio $ in millions $1,008 $1,062 $1,061 $1,070 $1,
Slide 22: Balanced, Low-Risk, Short-Duration Investment Portfolio
2222 Ticker: BUSE $2,797 $3,461 $4,010 $4,027 $4,078 1.60% 1.40% 1.37% 1.42% 1.80% 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% $00 $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500 $4,000 $4,500 $5,000 2021 Q1 2021 Q2 2021 Q3 2021 Q4 2022 Q1 Book Value Tax Equivalent Yield $ in millions Balanced, Low-Risk, Sho
Slide 23: Reserve Supports Credit & Growth Profile
2323 Ticker: BUSE Reserve Supports Credit & Growth Profile Allowance / NPLs Allowance / NPAs Allowance / Loans (ex-PPP) ▪ Reserve to loans of 1.22% (ex-PPP) as of Q1 2022 ▪ Day 1 CECL coverage was 1.06% as of Q1 2022 ▪ Non-performing loan balances have continued to decline ▪ Reserves to NPLs now equ
Slide 24: Pristine Credit Quality
2424 Ticker: BUSE Pristine Credit Quality ▪ Conservative underwriting continues to result in pristine credit quality performance ▪ Strong portfolio management that identifies early warning indicators and includes proactive engagement of the special assets group early in the credit review process ▪ N
Slide 25: High Quality Loan Portfolio: C&I
2525 Ticker: BUSE High Quality Loan Portfolio: C&I ▪ 25.9% of total loan portfolio (ex-PPP loans) ▪ Diversified portfolio results in low levels of concentrated exposure ▪ Top concentration in one industry (manufacturing) is 17% of C&I loans, or 4% of total loans ▪ Only 1.7% of C&I loans are classifi
Slide 26: High Quality Loan Portfolio: CRE
2626 Ticker: BUSE High Quality Loan Portfolio: CRE Total CRE: CRE-I and OOCRE Portfolio ▪ 49% of total loan portfolio (ex-PPP) ▪ 27% of CRE loans are owner-occupied properties that are underwritten to operating cash flow ▪ Only 1.5% of total CRE loans and 1.6% of CRE-I loans are classified ▪ Low lev
Slide 27: Appendix
2727 Ticker: BUSE APPENDIX
Slide 28: Growing Wealth Management Business
2828 Ticker: BUSE $12.6 $13.0 $13.7 $13.7 $15.8 $6.0 $6.3 $6.1 $5.5 $7.5 47.8% 48.3% 44.1% 40.1% 47.6% 20.0% 25.0% 30.0% 35.0% 40.0% 45.0% 50.0% $1.0 $3.0 $5.0 $7.0 $9.0 $11.0 $13.0 $15.0 2021 Q1 2021 Q2 2021 Q3 2021 Q4 2022 Q1 Revenue Pre-Tax Net Income Pre-Tax Profit Margin $ in millions Growing W
Slide 29: Scalable Payment Technology Solutions Platform
2929 Ticker: BUSE Scalable Payment Technology Solutions Platform Customer Overview FirsTech Today Transactions processed per year (3) 34 Million $10.3 Billion Payments processed annually (2) Customers across numerous industries and growing 150+ Number of non-cash payment transactions in the United S
Slide 30: Bank and Holding Company Liquidity
3030 Ticker: BUSE Bank Liquidity ▪ As of March 31, 2022 management believed that adequate liquidity existed to meet all projected cash flow obligations ▪ First Busey’s primary sources of funds consist of deposits, investment maturities and sales, loan principal repayments and capital funds Holding C
Slide 31: Continued Investment in Technology Enterprise-Wide
3131 Ticker: BUSE ▪ Continued investment in technology, automation, and data analytics across the company ▪ Seeing tangible results as we continue to adapt to our customers’ needs ▪ Digital relationship banking team formed in 4Q20 to manage Digital Preferred Banking (1) deposit accounts ▪ Five digit
Slide 32: Environmental, Social and Governance Responsibility
3232 Ticker: BUSE Environmental, Social and Governance Responsibility Building on 150 Years of Excellence | Advancing a Comprehensive ESG Strategy Busey’s Corporate Social Responsibility work continues within the broader context of our new ESG strategic focus and framework as we build on a legacy of
Slide 33: Non-GAAP: Pre-Provision Net Revenue
3333 Ticker: BUSE Non-GAAP Financial Information Pre-Provision Net Revenue, Adjusted Pre-Provision Net Revenue, Pre-Provision Net Revenue to Average Assets, and Adjusted Pre-Provision Net Revenue to Average Assets (dollars in thousands) Three Months Ended March 31, December 31, September 30, June 30
Slide 34: Non-GAAP: Adjusted Net Income, EPS, ROAA and ROATCE
3434 Ticker: BUSE Non-GAAP Financial Information Adjusted Net Income, Adjusted Diluted Earnings Per Share, Adjusted Return on Average Assets, Return on Average Tangible Common Equity, and Adjusted Return on Average Tangible Common Equity (dollars in thousands, except per share amounts) Three Months
Slide 35: Non-GAAP: Adjusted Net Interest Margin
3535 Ticker: BUSE Non-GAAP Financial Information Adjusted Net Interest Margin (dollars in thousands) Three Months Ended March 31, December 31, September 30, June 30, March 31, 2022 2021 2021 2021 2021 Net interest income $ 70,056 $ 70,508 $ 70,755 $ 64,542 $ 64,893 Non-GAAP adjustments: Tax-equivale
Slide 36: Non-GAAP: Adjusted Noninterest Expense and Efficiency Ratios
3636 Ticker: BUSE Non-GAAP Financial Information Adjusted Noninterest Expense, Core Adjusted Expense, Efficiency Ratio, Adjusted Efficiency Ratio, and Adjusted Core Efficiency Ratio (dollars in thousands) Three Months Ended March 31, December 31, September 30, June 30, March 31, 2022 2021 2021 2021
Slide 37: Non-GAAP: Tangible Book Value and Tangible Common Equity
3737 Ticker: BUSE Non-GAAP Financial Information Tangible Book Value Per Common Share (dollars in thousands, except per share amounts) As of March 31, December 31, September 30, June 30, March 31, 2022 2021 2021 2021 2021 Total stockholders’ equity $ 1,218,025 $ 1,319,112 $ 1,333,076 $ 1,345,691 $ 1
Slide 38: Non-GAAP: Core Loans and Core Deposits
3838 Ticker: BUSE Non-GAAP Financial Information Core Loans, Core Loans to Portfolio Loans, Core Deposits, Core Deposits to Total Deposits, and Core Loans to Core Deposits (dollars in thousands) As of March 31, December 31, September 30, June 30, March 31, 2022 2021 2021 2021 2021 Portfolio loans [a