Slide 1: 1Q22 Quarterly Earnings Supplement
1Q22 QUARTERLY EARNINGS SUPPLEMENT April 26, 2022
Slide 2: Special Note Concerning Forward-Looking Statements
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 the financial co
Slide 3: Non-GAAP Financial Information
Non-GAAP Financial Information This document 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 the Company’s performance and in making business decisions, as well as comparis
Slide 4: Table of Contents
Table of Contents Overview of First Busey Corporation (BUSE) 5 Sizable Business Lines Provide for Innovative Solutions 6 Investment Highlights 7 Experienced Management Team 8 Strong Regional Operating Model 9 High Quality & Growing Loan Portfolio 10 Top Tier Core Deposit Franchise 11 Diversified and
Slide 5: Overview of First Busey Corporation (BUSE)
Overview of First Busey Corporation (BUSE) Company Overview + 150+ year old financial institution headquartered in CHAMPAIGN, IL Regional operating model serving 4 regions: NORTHERN, CENTRAL, GATEWAY, FLORIDA AMONG THE BEST Commercial Banking Wealth Management Payment Tech Solutions Unwavering Focus
Slide 6: Sizable Business Lines Provide for Innovative Solutions
Sizable Business Lines Provide for Innovative Solutions Diversified financial holding company with comprehensive and innovative financial solutions for individuals and businesses $12.6 $352.9 13.0% Billion Million MRQ Full suite of diversified financial products for individuals and businesses (2) As
Slide 7: Investment Highlights Built on a Fortress Balance Sheet
Investment Highlights ▪ 58 branches across four states: Illinois, Missouri, Indiana, and Florida Attractive Franchise that ▪ Premier commercial bank, wealth management, and payment technology solutions for individuals and businesses Provides Innovative ▪ Attractive core deposit to total deposit rati
Slide 8: Experienced Management Team
Experienced Management Team Has served as President & CEO of First Busey since 2007 and became Chairman of the Board effective July 2020. Mr. Van A. Dukeman Dukeman was President & CEO of Main Street Trust from 1998 until its merger with First Busey in 2007. His 40 years of Chairman, President & CEO
Slide 9: Strong Regional Operating Model
Strong Regional Operating Model Four distinct operating regions provide for attractive mix of customers and demographics, providing compelling business and market opportunities Northern Gateway Banking Banking Centers: Centers: 10 20 Deposits: Deposits: $1.9B $2.9B Avg. Deposits Avg. Deposits Per Br
Slide 10: High Quality & Growing Loan Portfolio
High Quality & Growing Loan Portfolio Loan Portfolio Composition – Q1 2022 Loan Portfolio Regional Segmentation (1) Florida 5% Northern 23% Central 43% Gateway MRQ Yield on 29% Loans 3.46% Ex-PPP Loans Trends Funded Draws & Line Utilization Rate (3) $2,501 LTM Core Growth(2) LTM Commercial Growth(2)
Slide 11: Top Tier Core Deposit Franchise
Top Tier Core Deposit Franchise Deposit Portfolio Composition – Q1 2022 Total Deposits & Loan to Deposit Ratio $ in millions $10,818 $10,769 $10,592 $10,337 $8,874 76.4% MRQ Avg Cost of 69.5% 66.8% 68.7% Deposits 66.1% 0.08% MRQ Avg Cost of Non-Time Deposits 0.04% Avg Deposits C k per Branch 2021 Q1
Slide 12: Diversified and Significant Sources of Fee Income
Diversified and Significant Sources of Fee Income Noninterest Income / Total Revenue (1) ▪ Resilient, varied, and complimentary sources of fee $120.0 $ in millions 90.0% income provide revenue diversification with $104.0 $105.6 $105.8 80.0% $96.3 $97.6 heightened value amidst cycle of margin $100.0
Slide 13: Fully Integrated Wealth Management Platform
Fully Integrated Wealth Management Platform Six Distinct Teams Our wealth management business provides effective and high-touch solutions for Private Wealth Advisor high-net-worth individuals. Our clients work with a dedicated team of financial ▪ Risk-return optimization professionals, with each tea
Slide 14: Growing Wealth Management Business
Growing Wealth Management Business Q1 2022 Summary ▪ Assets under care of $12.3 billion, a year-over-year increase of $1.6 billion, or 15%, which was impacted by the acquisition of Glenview State Bank in 2021 ▪ Decline in AUC from 4Q21 principally due to a reduction in market valuations during 1Q22
Slide 15: Scalable Payment Technology Solutions Platform
Scalable Payment Technology Solutions Platform The Opportunity FirsTech Today 174 $97 $10.3 34 Billion Trillion Billion Million Number of non-cash Value of non-cash Payments processed Transactions payment transactions payments annually (2) processed per year (3) in the United States in the United St
Slide 16: FirsTech Growth and Expansion of Services
FirsTech Growth and Expansion of Services Multi-Layered Payment Technology Solutions Platform Payment Technology Solutions Platform ▪ FirsTech’s payments platform provides custom payment technology solutions through a comprehensive suite of capabilities ▪ Mobile bill pay, walk-in payment processing,
Slide 17: Net Interest Margin
Net Interest Margin Net Interest Income (1) Net Interest Margin $75.0 $72.0 $ in millions $71.4 $71.1 $70.6 $71.0 3.03% 2.77% $1.3 2.72% 2.65% 2.66% $3.3 2.57% $70.0 $5.2 $1.2 $70.0 2.50% 2.41% $65.5 $1.5 2.45% $65.1 2.66% 2.36% $1.8 $69.0 $65.0 2.45% 2.41% 2.30% 2.28% $4.8 $4.3 $68.0 $60.0 $2.2 $1.
Slide 18: Focused Control on Expenses
Focused Control on Expenses Noninterest Expense ▪ Core adjusted expenses(1) of $64.1 million in 1Q22 $80.0 $80.0 $ in millions $73.5 excluding amortization of intangible assets, provision $75.0 $71.2 $70.4 $75.0 Noninterest$70.0Exp. $70.0 for unfunded commitments, acquisition / restructuring Core Ad
Slide 19: Continued Investment in Technology Enterprise-Wide
Continued Investment in Technology Enterprise-Wide ▪ Continued investment in technology, automation, and data analytics across the company ▪ Seeing tangible results as we continue to adapt to our customers’ needs (1) ▪ Digital relationship banking team formed in 4Q20 to manage Digital Preferred Bank
Slide 20: Fortress Balance Sheet
Fortress Balance Sheet ▪ TCE/TA ratio of 7.01% at 3/31/22 (1) Robust ▪ Capital ratios significantly in excess of well-capitalized minimums Capital Foundation ▪ 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 u
Slide 21: Robust Capital Foundation
Robust Capital Foundation Tangible Common Equity (1) & CET1 Ratios Total Capital Ratio (2) $ in millions $ in millions $1,050 12.8% 14.0% 17.4% 12.3% 16.4% $1,000 12.0% 11.8% 11.9% 15.9% 15.7% 15.8% 12.0% $950 $982 $971 $959 $900 10.0% $494 $919 $517 $488 $494 $850 $538 $856 8.0% $800 8.8% 8.2% 7.8%
Slide 22: Pristine Credit Quality
Pristine Credit Quality ▪ Conservative underwriting continues to result in pristine NPAs / Assets credit quality performance $ in millions $12,860 $12,568 ▪ Non-performing asset, classified asset, and net charge-off ratios have declined to historically low levels $10,544 $9,696 ▪ NPAs/Assets of 0.13
Slide 23: Reserve Supports Credit & Growth Profile
Reserve Supports Credit & Growth Profile Allowance / NPLs 800% $40,000 $ in thousands ▪ Reserve to loans of 1.22% (ex-PPP) 700% $36,598 $35,000 695% ▪ Day 1 CECL coverage was 1.06% $30,000 600% $29,507 $25,000 500% $24,301 522% ▪ Non-performing loan balances have $20,000 400% continued to decline $1
Slide 24: Balanced, Low-Risk, Short-Duration Investment Portfolio
Balanced, Low-Risk, Short-Duration Investment Portfolio Investment Portfolio Composition – Q1 2022 ▪ BUSE carried $976MM in held-to-maturity (HTM) securities as of 3/31/22 ▪ Transferred a portion of the portfolio comprised of Agency RMBS & CMBS from available-for-sale (AFS) to HTM during 1Q22 ▪ The
Slide 25: Quarterly Earnings Review
Quarterly Earnings Review ▪ 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 Net Intere
Slide 26: Earnings Performance
Earnings Performance Adjusted Net Income & Earnings Per Share (1) Adjusted ROAA & ROATCE (1) 1.70% $ in millions $1. 00 16. 0% 16.9% $38.0 $0. 90 1.50% $38.1 14. 0% $0. 80 14.3% 1.46% $33.0 $34.3 13.1% 13.4% $32.8 12. 0% 13.0% 1.30% $28.0 $31.9 $0. 70 $0.69 $29.1 $0. 60 10. 0% 1.10% $23.0 $0.61 1.12
Slide 27: Environmental, Social and Governance Responsibility
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 purposeful action
Slide 28: Appendix
APPENDIX FIRST BUSEY CORPORATION
Slide 29: High Quality Loan Portfolio: C&I
High Quality Loan Portfolio: C&I C&I Loans by Sector (ex-PPP) ▪ 25.9% of total loan portfolio (ex-PPP loans) $ in thousands 3/31/22 % of Total 3/31/22 Balances Loans Classified ▪ Diversified portfolio results in low levels of NAICS Sector (ex-PPP) (ex-PPP) Balances concentrated exposure Manufacturin
Slide 30: High Quality Loan Portfolio: CRE
High Quality Loan Portfolio: CRE Owner Occupied CRE Loans by Property Type Investor Owned CRE Loans by Property Type (1) $ in thousands % of Total 3/31/22 $ in thousands % of Total 3/31/22 3/31/22 Loans Classified 3/31/22 Loans Classified Property Type Balances (ex-PPP) Balances Property Type Balanc
Slide 31: Non-GAAP Financial Information
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, March 31, 2022 2
Slide 32: Non-GAAP Financial Information
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 Ended March 31, De
Slide 33: Non-GAAP Financial Information
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-equivalent adjustment 546
Slide 34: Non-GAAP Financial Information
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 2021 Net interest
Slide 35: Non-GAAP Financial Information
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 $ 1,265,822 Goodwill
Slide 36: Non-GAAP Financial Information
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] $ 7,272,873 $ 7,