Slide 1: Q4 2024 Earnings Investor Presentation
Q4 2024 EARNINGS INVESTOR PRESENTATION January 28, 2025
Slide 2: Forward-Looking Statements
4Q24 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
4Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 3 Table of Contents Overview of First Busey Corporation (BUSE) 4 Diversified Company with Comprehensive & Innovative Appendix: 31 5 Financial Solutions Compelling Regional Operating Model 6 Experienced Management Team 32 Inve
Slide 4: Overview of First Busey Corporation (NASDAQ: BUSE)
4Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 4 Overview of First Busey Corporation (NASDAQ: BUSE) Business Banking Personal Banking Wealth Management 157+ year old financial institution headquartered Regional in Champaign, IL Payment Tech Solutions operating model servi
Slide 5: Diversified Company with Comprehensive & Innovative Financial Solutions
4Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 5 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 6: Compelling Regional Operating Model
4Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 6 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 th
Slide 7: Investment Highlights
4Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 7 Investment Highlights ▪ 62 branches across four states: Illinois, Missouri, Indiana, and Florida ▪ Premier commercial bank, wealth management, and payment technology solutions for individuals Attractive Franchise that and b
Slide 8: Fortress Balance Sheet
4Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 8 Fortress Balance Sheet ▪ Diversified portfolio, conservatively underwritten with low levels of concentration 1 ▪ Non-performing (0.19% of total assets) and classified assets (5.6% of capital ) both remain low High Quality,
Slide 9: Transformational Partnership with CrossFirst Bankshares
4Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 9 Transformational Partnership with CrossFirst Bankshares First Busey Corp. announced a transformative partnership with CrossFirst Bankshares, Inc. on August 27, 2024 Merger anticipated to close on March 1, 2025 Projected Bal
Slide 10: CrossFirst Bankshares Partnership
4Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 10 CrossFirst Bankshares Partnership 1 Strategic Highlights Attractive Deal Metrics Merger Update ▪ Enhances Busey’s growth profile with ▪ Fixed exchange ratio of 0.6675x and pro ▪ Integration planning focused expansion into
Slide 11: Track Record of Successful Integrations
4Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 11 Track Record of Successful Integrations ▪ Busey successfully integrated seven whole bank mergers aggregating $7B+ in total assets and one wealth management firm since 2015; most recent integration in 2Q24 ▪ An integral com
Slide 12: High Quality Loan Portfolio
4Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 12 High Quality Loan Portfolio 2 Loan Portfolio Composition | 4Q24 Loan Portfolio Regional Segmentation MRQ Yield on Loans HELOC Florida 3% Other 5.47% 6% 6% -16 bps vs. 3Q24, +25 bps vs. 4Q23 Commercial & Industrial 25% 4Q24
Slide 13: High Quality Loan Portfolio: CRE
4Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 13 High Quality Loan Portfolio: CRE 1 Investor Owned CRE Loans by Property Type Owner Occupied CRE Loans by Property Type $ in thousands 12/31/24 $ in thousands 12/31/24 12/31/24 % of Total Classified 12/31/24 % of Total Clas
Slide 14: Office Investor Owned CRE Portfolio
4Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 14 Office Investor Owned CRE Portfolio All data as of 12/31/24 $ in thousands Top Ten Limited Metro Central Business District Exposure Traditional Medical Largest CBD Office Metric Office Office Office Loans Exposure Downtown
Slide 15: High Quality Loan Portfolio: C&I
4Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 15 High Quality Loan Portfolio: C&I C&I Loans by Sector ▪ 24.6% of total loan portfolio $ in thousands 12/31/24 12/31/24 % of Total Classified NAICS Sector Balances Loans Balances ▪ 64% of C&I borrowers have been Busey Financ
Slide 16: Pristine Credit Quality
4Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 16 Pristine Credit Quality NPAs/ Assets $ in millions ▪ Conservative underwriting leads to pristine credit quality Assets % NPAs/Assets ▪ Strong portfolio management that identifies early warning indicators and proactively en
Slide 17: Credit Profile Bolstered by Strong Reserves
4Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 17 Credit Profile Bolstered by Strong Reserves Allowance / Loans (ex-PPP) ▪ Reserve to loans of 1.08% (compared to 1.09% at 9/30/24) $ in millions ▪ Non-performing loan balances increased by $15.0 million QoQ 1.59% $7,725 $7,
Slide 18: Top Tier Core Deposit Franchise
4Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 18 Top Tier Core Deposit Franchise Deposit Portfolio Composition | 4Q24 Total Deposits & Loan-to-Deposit Ratio $ in millions Core Deposits 97% Int DDA $10,332 $10,291 $9,960 $9,976 $9,943 $9,982 24% MRQ Avg Cost of Total Depo
Slide 19: Granular, Stable Deposit Base
4Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 19 Granular, Stable Deposit Base Long-tenured Deposit Relationships that are very granular Customers with Account Balances totaling $250K+ As of 12/31/24 Retail Commercial 2024 Q4 Number of Accounts 251,000+ 32,000+ Number of
Slide 20: Deposit Cost Trends
4Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 20 Deposit Cost Trends 1 2 Historical Cost of Deposits, 2015 - 4Q24 Cumulative Deposits Betas Over Last Two Cycles BUSE Cost of Deposits Effective Fed Funds Rate (Qtr Avg) IB Non-Maturity All IB Deposits Total Deposits 6.0% 5
Slide 21: Net Interest Margin
4Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 21 Net Interest Margin 1 1 Net Interest Income Trend Net Interest Margin Trend $ in millions 4.83% 4.90% $82.9 $83.0 $82.0 4.58% 4.62% 4.75% $77.8 $76.3 $0.8 $1.3 $0.8 $0.4 $0.2 3.03% 3.02% 2.95% 2.75% 2.79% $82.1 $81.7 $81.2
Slide 22: Diversified and Significant Sources of Fee Income
4Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 22 Diversified and Significant Sources of Fee Income 1 Noninterest Income / Total Revenue $ in millions ▪ Noninterest income represented 30% of revenue in $116.2 $118.5 $116.8 4Q24 (excluding net securities losses) $110.8 $10
Slide 23: Wealth Management
4Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 23 Wealth Management 1 Wealth - Revenue and Pre-tax Income ▪ Assets Under Care (AUC) of $13.8 billion, a QoQ increase of $ in millions $0.1 billion and a YoY increase of $1.7 billion, or +14% $17.0 $15.7 $16.1 $16.2 ▪ 4Q24 We
Slide 24: FirsTech
4Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 24 FirsTech ▪ FY 2024 segment revenue of $23.1 million, an increase of 1% over the prior twelve-month period $23.1 2024 Revenue 1 Merchant Processing 20% million Integrated Receivables 17% ▪ 4Q24 segment revenue of $5.4 milli
Slide 25: Balanced, Low-Risk, Short Duration Investment Portfolio
4Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 25 Balanced, Low-Risk, Short Duration Investment Portfolio Investment Portfolio Composition | 4Q24 ▪ Carrying value of investment portfolio is 24% of total assets AFS % of Amortized Cost ▪ BUSE carried $827 million in held-to
Slide 26: Actively Managing Well-Positioned Balance Sheet
4Q24 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 +2.0% vs. +2.1% in 3Q24 under Shock Scenarios
Slide 27: Focused Control on Expenses
4Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 27 Focused Control on Expenses Noninterest Expense ▪ Continue to be mindful and diligent on expenses in the $ in millions current operating environment Expenses ex-Acq. Acq./Restructuring Exp. 1 Adj. Efficiency Ratio¹ Adj. Co
Slide 28: Robust Capital Foundation
4Q24 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 $1,589 $1,610 $1,627 14.1% $1,540 $1,556 13.8% 13.1% 13.4% 13.2% $681 $725 $750 $657 $689 $1,042 $1,024 $
Slide 29: 4Q24 Earnings Review
4Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 29 4Q24 Earnings Review ▪ Net interest income was $81.6 million in 4Q24 vs. $82.6 million in 3Q24 and $77.3 million in 4Q23 1 Net Interest ▪ Net interest margin was 2.95% in 4Q24, a decrease of 7 bp vs. 3.02% in 3Q24 Income ▪
Slide 30: Earnings Performance
4Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 30 Earnings Performance 1 1 Adjusted Net Income & Earnings Per Share Adjusted ROAA & Adjusted ROATCE $ in millions $33.5 13.6% 13.4% $30.7 12.2% $29.1 $29.0 11.6% 11.9% $26.5 $0.58 $0.53 $0.52 $0.47 $0.50 1.11% 0.97% 1.01% 0.
Slide 31: Appendix
Appendix Busey , FIRST BUSEY CORPORATION
Slide 32: Experienced Management Team
4Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 32 Experienced Management Team Van A. Dukeman Jeffrey D. Jones Amy L. Randolph Chairman & CEO EVP & CFO EVP & COO Has served as Chairman & CEO of First Busey since 2007 Joined Busey in August 2019, bringing nearly 20 years of
Slide 33: Fully Integrated Wealth Platform
4Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 33 Fully Integrated Wealth Platform $13.8 Billion $65.0 Million 44.6% 1 As of 12/31/24 Assets Under Care FY 2024 Revenue PT Margin FY 2024 I. Client-Focused Strategy II. Team-Based Approach III. Comprehensive Wealth Managemen
Slide 34: FirsTech, A Uniquely Positioned Payment Technology Company
4Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 34 FirsTech, A Uniquely Positioned Payment Technology Company $12 Billion 44 Million $23.1 Million 1 As of 12/31/24 Payments Processed in 2024 Transactions Processed in 2024 2024 Revenue Payments Segments Integrated Receivabl
Slide 35: FirsTech, A Uniquely Positioned Payment Technology Company
4Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 35 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 leverag
Slide 36: Busey Impact: ESG and Corporate Responsibility
4Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 36 Busey Impact: ESG and Corporate Responsibility Building on 155+ Years of Civic Engagement, Corporate Responsibility and Positive Impacts 4Q24 Featured Impact | Busey Drives Generosity In 2024, our associates and customers
Slide 37: Non-GAAP Financial Information
4Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 37 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 38: Non-GAAP Financial Information (Unaudited)
4Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 38 Non-GAAP Financial Information (Unaudited) Pre-Provision Net Revenue and Related Measures Three Months Ended Years Ended December 31, September 30, December 31, December 31, December 31, (dollars in thousands) 2024 2024 20
Slide 39: Non-GAAP Financial Information (Unaudited)
4Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 39 Non-GAAP Financial Information (Unaudited) Adjusted Net Income, Average Tangible Common Equity, and Related Ratios Three Months Ended Years Ended December 31, September 30, December 31, December 31, December 31, (dollars i
Slide 40: Non-GAAP Financial Information (Unaudited)
4Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 40 Non-GAAP Financial Information (Unaudited) Further Adjusted Net Income and Further Adjusted Diluted Earnings Per Share Three Months Ended Years Ended December 31, September 30, December 31, December 31, December 31, (dolla
Slide 41: Non-GAAP Financial Information (Unaudited)
4Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 41 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 Years Ended December 31, September 30, D
Slide 42: Non-GAAP Financial Information (Unaudited)
4Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 42 Non-GAAP Financial Information (Unaudited) Adjusted Noninterest Income, Revenue Measures, Adjusted Noninterest Expense, Adjusted Core Expense, and Efficiency Ratios Three Months Ended Years Ended December 31, September 30,
Slide 43: Non-GAAP Financial Information (Unaudited)
4Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 43 Non-GAAP Financial Information (Unaudited) Tangible Book Value and Tangible Book Value Per Common Share As of December 31, September 30, December 31, (dollars in thousands, except per share amounts) 2024 2024 2023 Total st
Slide 44: Non-GAAP Financial Information (Unaudited)
4Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 44 Non-GAAP Financial Information (Unaudited) Core Deposits and Related Ratios As of December 31, September 30, December 31, (dollars in thousands) 2024 2024 2023 Portfolio loans (GAAP) [a] $ 7,697,087 $ 7,809,097 $ 7,651,034