Slide 1: Q2 2023 Earnings Investor Presentation
Q2 2023 EARNINGS INVESTOR PRESENTATION July 25, 2023
Slide 2: Special Note Concerning Forward-Looking Statements
2Q23 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 2 Special Note Concerning Forward-Looking Statements Statements made in this presentation, other than those concerning historical financial information, may be considered forward-looking statements within the meaning of the P
Slide 3: Non-GAAP Financial Information
2Q23 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 3 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, toget
Slide 4: Table of Contents
2Q23 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 4 Table of Contents Overview of First Busey Corporation (BUSE) 5 Diversified Company with Comprehensive & Innovative Appendix: 28 6 Financial Solutions Strong Regional Operating Model 7 Experienced Management Team 29 Investme
Slide 5: Overview of First Busey Corporation (NASDAQ: BUSE)
2Q23 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 5 Overview of First Busey Corporation (NASDAQ: BUSE) 155+ year old financial Regional operating model Among the Best institution headquartered serving four regions in Champaign, IL Northern (IL) Central (IL/IN) Gateway (MO/IL
Slide 6: Diversified Company with Comprehensive & Innovative Financial Solutions
2Q23 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 6 Diversified Company with Comprehensive & Innovative Financial Solutions Full suite of diversified financial Wealth & asset management services Payment platform that enables the products for individuals and businesses for in
Slide 7: Strong Regional Operating Model
2Q23 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 7 Strong 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 the co
Slide 8: Investment Highlights
2Q23 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 8 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 b
Slide 9: Fortress Balance Sheet
2Q23 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 9 Fortress Balance Sheet ▪ Capital ratios significantly in excess of well-capitalized minimums 1 Robust Capital ▪ Total RBC of 16.6% and CET1 ratio of 12.4% at 6/30/23 Foundation ▪ TCE/TA ratio of 7.18% at 6/30/23 2 2 ▪ TBV p
Slide 10: High Quality Loan Portfolio
2Q23 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 10 High Quality Loan Portfolio 2 Loan Portfolio Composition | 2Q23 Loan Portfolio Regional Segmentation MRQ Yield on Loans HELOC Florida 3% 4.92% 6% Other 4% Commercial 2Q23 Net New Funding Yield & Industrial 1-4 Family 24% 6
Slide 11: High Quality Loan Portfolio - CRE
2Q23 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 11 High Quality Loan Portfolio - CRE 1 Investor Owned CRE Loans by Property Type Owner Occupied CRE Loans by Property Type $ in thousands 6/30/23 $ in thousands 6/30/23 6/30/23 % of Total Classified 6/30/23 % of Total Classif
Slide 12: Office Investor Owned CRE Portfolio
2Q23 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 12 Office Investor Owned CRE Portfolio Limited Metro Central Business District Exposure All data as of 6/30/23 $ in thousands Top Ten Downtown Chicago Traditional Medical Largest CBD Office Metric Office Office Office Loans E
Slide 13: Top Tier Core Deposit Franchise
2Q23 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 13 Top Tier Core Deposit Franchise Deposit Portfolio Composition | 2Q23 Total Deposits & Loan-to-Deposit Ratio $ in millions Core Deposits $10,592 $10,397 $10,601 $10,071 $9,801 $10,063 97% Int DDA $10,617 $10,506 $10,577 $10
Slide 14: Granular, Stable Deposit Base
2Q23 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 14 Granular, Stable Deposit Base Customers with Account Balances totaling $250K+ 2023 Q2 Long-lasting Deposit Relationships that are very granular Number of customers 5,319 Median account balance $402 thousand As of 6/30/23 R
Slide 15: Deposit Cost Trends
2Q23 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 15 Deposit Cost Trends 1 2 Historical Cost of Deposits, 2015 - 2Q23 Cumulative Deposit Betas for Tightening Cycle-to-Date BUSE Cost of Deposits Effective Fed Funds Rate (Quarter Average) 5.5% IB Non-Maturity All IB Deposits T
Slide 16: Diversified and Significant Sources of Fee Income
2Q23 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 16 Diversified and Significant Sources of Fee Income 1 ▪ Noninterest income represented 27.7% of revenue Noninterest Income / Total Revenue (ex-securities gains/losses) in 2Q23 $ in millions ▪ Key businesses of wealth managem
Slide 17: Wealth Management
2Q23 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 17 Wealth Management Assets Under Care $ in millions ▪ Assets Under Care (AUC) of $11.5 billion, a QoQ increase of $270 million $11,454 $11,478 $11,062 $11,208 1 $10,749 ▪ Wealth revenue of $14.7 million, a YoY increase of 4.
Slide 18: FirsTech
2Q23 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 18 FirsTech ▪ LTM revenue of $22.3 million, an increase of 7% over the prior twelve-month period ▪ Key competencies of electronic payments and merchant services have been the primary drivers $12 Payments processed in last twe
Slide 19: Net Interest Margin
2Q23 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 19 Net Interest Margin 1 1 Net Interest Income Trend Net Interest Margin Trend $ in millions $91.7 4.23% 4.05% $86.8 $0.5 3.76% $86.4 $0.1 $0.4 3.31% NIM up $0.8 $79.2 2.91% 18 bps 2.86% $76.5 $0.4 3.00% vs. 2Q22 $0.6 2.68% 3
Slide 20: Focused Control on Expenses
2Q23 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 20 Focused Control on Expenses 1 Noninterest Expense ▪ Adjusted core expenses of $64.0 million in 2Q23, down from $64.4 million in 2Q22 $ in millions Expenses ex-Acq. Acq./Restructuring Exp. Adj. Core Efficiency Ratio¹ ▪ Cont
Slide 21: Robust Capital Foundation
2Q23 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 21 Robust Capital Foundation 1 2 2 Tangible Common Equity & CET1 Ratios Total Capital Ratio $ in millions $ in millions $1,458 $1,487 $1,507 12.2% 12.4% $1,453 $1,431 11.8% 11.8% 12.0% $580 $597 $577 $535 $554 $845 $851 16.6%
Slide 22: Pristine Credit Quality
2Q23 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 22 Pristine Credit Quality NPAs/ Assets ▪ Conservative underwriting leads to pristine credit quality $ in millions Assets % NPAs/Assets ▪ CRE factors of DSCR, Debt Yield, & LTV stressed for effective gross income decline and
Slide 23: Reserves Supports Credit & Growth Profile
2Q23 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 23 Reserves Supports Credit & Growth Profile Allowance / Loans (ex-PPP) $ in millions 1.59% ▪ Reserve to loans of 1.17% (ex-PPP) $7,725 $7,805 $7,114 $6,687 ▪ Day 1 CECL coverage was 1.06% $6,368 ▪ Non-performing loan balance
Slide 24: Balanced, Low-Risk, Short Duration Investment Portfolio
2Q23 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 24 Balanced, Low-Risk, Short Duration Investment Portfolio Investment Portfolio Composition | 2Q23 ▪ BUSE carried $894 million in held-to-maturity (HTM) securities as of 6/30/23 AFS % of ▪ Transferred a portion of the portfol
Slide 25: Actively Managing Asset-Sensitive Balance Sheet
2Q23 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 25 Actively Managing Asset-Sensitive Balance Sheet ▪ Balance sheet remains asset-sensitive, progressing towards becoming more rate Annual % Change in Net Interest Income neutral under Shock Scenarios ▪ A +100 bps rate shock f
Slide 26: 2Q23 Earnings Review
2Q23 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 26 2Q23 Earnings Review ▪ Net interest income was $78.7 million in 2Q23 vs. $85.9 million in 1Q23 and $75.9 million in 2Q22 Net Interest 1 ▪ Net interest margin was 2.86% in 2Q23, a decrease of 27 bps vs. 3.13% in 1Q23 Income
Slide 27: Earnings Performance
2Q23 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 27 Earnings Performance 1 1 Adjusted Net Income & Earnings Per Share Adjusted ROAA & Adjusted ROATCE $ in millions $36.4 $36.3 $36.8 19.0% 17.8% 18.5% $30.1 $29.4 14.6% 13.9% $0.65 $0.65 $0.65 $0.54 $0.52 1.17% 1.22% 1.15% 0.
Slide 28: Appendix
Appendix FIRST BUSEY CORPORATION
Slide 29: Experienced Management Team
2Q23 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 29 Experienced Management Team Van A. Dukeman Robin N. Elliott Jeffrey D. Jones Chairman, President & CEO, First Busey Corp. President & CEO, Busey Bank | CEO, FirsTech EVP & CFO Has served as President & CEO of First Busey s
Slide 30: High Quality Loan Portfolio: C&I
2Q23 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 30 High Quality Loan Portfolio: C&I C&I Loans by Sector ▪ 24.3% of total loan portfolio (ex-PPP loans) $ in thousands 6/30/23 6/30/23 Balances % of Total Classified NAICS Sector (ex-PPP) Loans Balances ▪ All C&I loans are und
Slide 31: Fully Integrated Wealth Platform
2Q23 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 31 Fully Integrated Wealth Platform As of 6/30/23 $11.5 Billion $55.1 Million 44.1% Assets Under Care LTM Revenue PT Margin MRQ 3 I. Client-Focused Strategy II. Team-Based Approach III. Comprehensive Wealth Management Trusted
Slide 32: Continued Investment in Technology Enterprise-Wide
2Q23 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 32 Continued Investment in Technology Enterprise-Wide LTM Tech Investment Highlights Investment Legend 2022 Upgraded treasury management solution for more robust customer functionality & more detailed internal reporting Enhan
Slide 33: Digital Banking Adoption
2Q23 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 33 Digital Banking Adoption Mobile engagement of customers continues growth trajectory as online banking reaches maturity stage 1 2 Consumer Monthly Active Users Commercial Quarterly Active Users Mobile MAU Online Banking MAU
Slide 34: Busey Impact: ESG and Corporate Responsibility
2Q23 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 34 Busey Impact: ESG and Corporate Responsibility Building on 155 Years of Civic Engagement, Corporate Responsibility and Positive Impacts With a strong and unwavering commitment to our Pillars—associates, customers, sharehol
Slide 35: Non-GAAP Financial Information
2Q23 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 35 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) Thr
Slide 36: Non-GAAP Financial Information
2Q23 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 36 Non-GAAP Financial Information Adjusted Net Income, Adjusted Diluted Earnings Per Share, Adjusted Return on Average Assets, Average Tangible Common Equity, Return on Average Tangible Common Equity, and Adjusted Return on A
Slide 37: Non-GAAP Financial Information
2Q23 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 37 Non-GAAP Financial Information Net Income Excluding Net Securities (Gains) Losses (dollars in thousands) Three Months Ended Six Months Ended June 30, March 31, June 30, June 30, June 30, 2023 2023 2022 2023 2022 Net income
Slide 38: Non-GAAP Financial Information
2Q23 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 38 Non-GAAP Financial Information Adjusted Net Interest Income and Adjusted Net Interest Margin (dollars in thousands) Three Months Ended Six Months Ended June 30, March 31, June 30, June 30, June 30, 2023 2023 2022 2023 2022
Slide 39: Non-GAAP Financial Information
2Q23 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 39 Non-GAAP Financial Information Noninterest Expense Excluding Amortization of Intangible Assets, Adjusted Noninterest Expense, Adjusted Core Expense, Noninterest Expense Excluding Non-operating Adjustments, Efficiency Ratio
Slide 40: Non-GAAP Financial Information
2Q23 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 40 Non-GAAP Financial Information Tangible Book Value and Tangible Book Value Per Common Share (dollars in thousands, except per share amounts) As of June 30, March 31, December 31, September 30, June 30, 2023 2023 2022 2022
Slide 41: Non-GAAP Financial Information
2Q23 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 41 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 June 30, March 31, December 31, Septemb