Slide 1: Q2 2024 Earnings Investor Presentation
Q2 2024 EARNINGS INVESTOR PRESENTATION July 23, 2024
Slide 2: Forward-Looking Statements and Non-GAAP Financial Information
2Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 2 Forward-Looking Statements and Non-GAAP Financial Information Special Note Concerning Forward-Looking Statements This presentation may contain forward-looking statements within the meaning of the Private Securities Litigati
Slide 3: Table of Contents
2Q24 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: 28 5 Financial Solutions Compelling Regional Operating Model 6 Experienced Management Team 29 Inve
Slide 4: Overview of First Busey Corporation (NASDAQ: BUSE)
2Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 4 Overview of First Busey Corporation (NASDAQ: BUSE) Business Banking Personal Banking Wealth Management 155+ year old financial institution headquartered Regional in Champaign, IL Payment Tech Solutions operating model servi
Slide 5: Diversified Company with Comprehensive & Innovative Financial Solutions
2Q24 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
2Q24 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
2Q24 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
2Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 8 Fortress Balance Sheet ▪ Diversified portfolio, conservatively underwritten with low levels of concentration 1 ▪ Non-performing (0.08% of total assets) and classified assets (6.4% of capital ) both remain low High Quality,
Slide 9: High Quality Loan Portfolio
2Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 9 High Quality Loan Portfolio 2 Loan Portfolio Composition | 2Q24 Loan Portfolio Regional Segmentation MRQ Yield on Loans HELOC Florida 3% Other 5.51% 6% 6% +24 bps vs. 1Q24, +29 bps vs. 4Q23 Commercial & Industrial 24% 2Q24
Slide 10: High Quality Loan Portfolio: CRE
2Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 10 High Quality Loan Portfolio: CRE 1 Investor Owned CRE Loans by Property Type Owner Occupied CRE Loans by Property Type $ in thousands 6/30/24 $ in thousands 6/30/24 6/30/24 % of Total Classified 6/30/24 % of Total Classifi
Slide 11: Office Investor Owned CRE Portfolio
2Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 11 Office Investor Owned CRE Portfolio All data as of 6/30/24 $ in thousands Top Ten Limited Metro Central Business District Exposure Traditional Medical Largest CBD Office Metric Office Office Office Loans Exposure Downtown
Slide 12: High Quality Loan Portfolio: C&I
2Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 12 High Quality Loan Portfolio: C&I C&I Loans by Sector ▪ 24.1% of total loan portfolio $ in thousands 6/30/24 6/30/24 % of Total Classified NAICS Sector Balances Loans Balances ▪ 61% of C&I borrowers have been Busey customer
Slide 13: Pristine Credit Quality
2Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 13 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 14: Credit Profile Bolstered by Strong Reserves
2Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 14 Credit Profile Bolstered by Strong Reserves Allowance / Loans (ex-PPP) ▪ Reserve to loans of 1.07% $ in millions ▪ QoQ change in reserves comprised of $1.2 million in Day 1 reserve for purchase credit deteriorated loans fr
Slide 15: Top Tier Core Deposit Franchise
2Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 15 Top Tier Core Deposit Franchise Deposit Portfolio Composition | 2Q24 Total Deposits & Loan-to-Deposit Ratio $ in millions Core Deposits 96% $10,063 $10,332 $10,291 $9,960 $9,976 Int DDA $9,801 24% MRQ Avg Cost of Total Dep
Slide 16: Granular, Stable Deposit Base
2Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 16 Granular, Stable Deposit Base Long-tenured Deposit Relationships that are very granular Customers with Account Balances totaling $250K+ As of 6/30/24 Retail Commercial 2024 Q2 Number of Accounts 256,000+ 33,000+ Number of
Slide 17: Deposit Cost Trends
2Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 17 Deposit Cost Trends 2 Historical Cost of Deposits, 2015 - 2Q24 1 Cumulative Deposit Betas for Tightening Cycle-to-Date BUSE Cost of Deposits Effective Fed Funds Rate (Qtr Avg) 6.0% 5.5% Cost of deposits has run at ~30% of
Slide 18: Net Interest Margin
2Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 18 Net Interest Margin 1 1 Net Interest Income Trend Net Interest Margin Trend $ in millions 4.83% $82.8 4.40% 4.57% 4.62% $0.8 4.23% $79.2 $78.3 $0.4 $77.6 $0.3 $0.4 $76.2 $0.2 3.03% 2.80% 2.74% 2.79% NIM ex. PAA 2.86% +22 b
Slide 19: Diversified and Significant Sources of Fee Income
2Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 19 Diversified and Significant Sources of Fee Income 1 Noninterest Income / Total Revenue ▪ Noninterest income represented 29.1% of revenue in 2Q24 (excluding additional gain on previously $ in millions announced sale of mort
Slide 20: Wealth Management
2Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 20 Wealth Management 1 Wealth - Revenue and Pre-tax Income ▪ Assets Under Care (AUC) of $13.0 billion, a QoQ increase of $ in millions $0.3 billion and a YoY increase of $1.5 billion, or +13.4% $15.7 $16.1 ▪ 2Q24 Wealth segme
Slide 21: FirsTech
2Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 21 FirsTech ▪ LTM segment revenue of $23.7 million, an increase of 6% over the prior twelve-month period $12 Payments processed in last twelve 42 Transactions processed in last twelve months million months billion ▪ 2Q24 segm
Slide 22: Balanced, Low-Risk, Short Duration Investment Portfolio
2Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 22 Balanced, Low-Risk, Short Duration Investment Portfolio Investment Portfolio Composition | 2Q24 ▪ Carrying value of investment portfolio is 25% of total assets AFS % of Amortized Cost ▪ BUSE carried $851 million in held-to
Slide 23: Actively Managing Asset-Sensitive Balance Sheet
2Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 23 Actively Managing Asset-Sensitive Balance Sheet ▪ Balance sheet remains asset-sensitive Annual % Change in Net Interest Income ▪ A +100 bps rate shock for Year 1 is down to +1.8% from +2.1% in under Shock Scenarios 1Q24 ▪
Slide 24: Focused Control on Expenses
2Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 24 Focused Control on Expenses 1 ▪ Adjusted core expenses of $71.1 million in 2Q24 Noninterest Expense ▪ Non-operating other expenses during 2Q24 were comprised of $2.2 million related to acquisition & restructuring related $
Slide 25: Robust Capital Foundation
2Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 25 Robust Capital Foundation 1 2 2 Tangible Common Equity & CET1 Ratios Total Capital Ratio $ in millions $ in millions 13.4% 13.2% $1,540 $1,557 $1,589 13.1% $1,507 $1,528 12.4% 12.5% $971 $657 $689 $681 $597 $614 $925 $938
Slide 26: 2Q24 Earnings Review
2Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 26 2Q24 Earnings Review ▪ Net interest income was $82.4 million in 2Q24 vs. $75.8 million in 1Q24 and $78.7 million in 2Q23 1 Net Interest ▪ Net interest margin was 3.03% in 2Q24, an increase of 24 bps vs. 2.79% in 1Q24 Incom
Slide 27: Earnings Performance
2Q24 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 13.9% 14.3% 13.6% $30.7 12.2% $29.4 $29.1 $29.0 11.6% $26.5 $0.52 $0.55 $0.52 $0.50 $0.47 0.96% 1.00% 0.97% 0.
Slide 28: Appendix
Appendix Busey FIRST BUSEY CORPORATION
Slide 29: Experienced Management Team
2Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 29 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 30: Fully Integrated Wealth Platform
2Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 30 Fully Integrated Wealth Platform $13.0 Billion $60.0 Million 42.9% As of 6/30/24 Assets Under Care LTM Revenue PT Margin LTM I. Client-Focused Strategy II. Team-Based Approach III. Comprehensive Wealth Management Core Trus
Slide 31: FirsTech, A Uniquely Positioned Payment Technology Company
2Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 31 FirsTech, A Uniquely Positioned Payment Technology Company $12 Billion 42 Million $23.7 Million 1 As of 6/30/24 Payments Processed LTM Transactions Processed LTM Revenue LTM Payments Segments Traditional Receivables Electr
Slide 32: FirsTech, A Uniquely Positioned Payment Technology Company
2Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 32 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 33: Busey Impact: ESG and Corporate Responsibility
2Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 33 Busey Impact: ESG and Corporate Responsibility Building on 155+ Years of Civic Engagement, Corporate Responsibility and Positive Impacts 2Q24 Featured Impact | Open an Account, Plant a Tree Partnering with Conservation Int
Slide 34: Non-GAAP Financial Information (Unaudited)
2Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 34 Non-GAAP Financial Information (Unaudited) 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 th
Slide 35: Non-GAAP Financial Information (Unaudited)
2Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 35 Non-GAAP Financial Information (Unaudited) 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
Slide 36: Non-GAAP Financial Information (Unaudited)
2Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 36 Non-GAAP Financial Information (Unaudited) Further Adjusted Net Income and Further Adjusted Diluted Earnings Per Share (dollars in thousands, except per share amounts) Three Months Ended Six Months Ended June 30, March 31,
Slide 37: Non-GAAP Financial Information (Unaudited)
2Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 37 Non-GAAP Financial Information (Unaudited) 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, 2024 2024 20
Slide 38: Non-GAAP Financial Information (Unaudited)
2Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 38 Non-GAAP Financial Information (Unaudited) Adjusted Noninterest Income, Operating Revenue, Adjusted Noninterest Income to Operating Revenue, Noninterest Expense Excluding Amortization of Intangible Assets, Adjusted Noninte
Slide 39: Non-GAAP Financial Information (Unaudited)
2Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 39 Non-GAAP Financial Information (Unaudited) Tangible Book Value and Tangible Book Value Per Common Share (dollars in thousands, except per share amounts) As of June 30, March 31, June 30, 2024 2024 2023 Total stockholders'
Slide 40: Non-GAAP Financial Information (Unaudited)
2Q24 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 40 Non-GAAP Financial Information (Unaudited) Core Deposits, Core Deposits to Total Deposits, and Portfolio Loans to Core Deposits (dollars in thousands) As of June 30, March 31, June 30, 2024 2024 2023 Portfolio loans [a] $