
Huse
FIRST BUSEY CORPORATION
NASDAQ:
Member FDIC
Table of ContentsOverview of First Busey Corporation (BUSE) 4
3Q26 Review 5
Earnings Performance 6
Investment Highlights 7
Strategically Configured Regional Operating Model 8
High Quality Loan Portfolio 9
Strong Credit Quality 10
Top Tier Core Deposit Franchise 11
Net Interest Margin 12
Diversified and Significant Sources of Noninterest Income 13
Wealth Management 14-15
Focused Control on Expenses 16
Robust Capital Foundation 17
Appendix: 18
Seasoned Leadership Team 19
Purchase Accounting Projections 20
Non-GAAP Financial Information 21
Overview of First Busey Corporation (NASDAQ: BUSE)$16.7 Billion
Wealth Assets Under Care 1
$18.6 Billion
Total Assets 1
A full suite of solutions provided to our clients for every stage of their business and personal life
Holding company of a 158+ year old bank Corporate headquarters in Leawood, KS
$2.5 Billion
Market Cap 1
1 Total Assets and Wealth Assets Under Care as of 9/30/26. Market cap as of 10/26/26
3Q26 Review Stable revenue driven by growing net interest income, but provision expense was above prior periods which pressured profitabilityOne $38 million credit relationship in the Central region was moved to nonaccrual, resulting in a
$10 million net charge-off and an $18 million specific reserve. Consequently, 3Q26 net credit provision expense increased to $9.6 million, compared to $2.2 million in 2Q26 and $3.1 million in 1Q26
Profitability remained solid at 1.23% adj. ROAA1, a 13.25% adj. ROATCE1, and 54.4% efficiency ratio1
3Q26 Summary Income Statement
$ in millions
Financial ResultsMetric 2Q26 3Q26
Adj. Diluted EPS 1 $0.69 $0.63 Adj. Net Income to Common S/H 1 $59 million $53 million
+0.5% QoQ
(-0.1% ex-PAA)
$153.2
-1.8% QoQ
$41.1
+0.7% QoQ
1.28%
Allowance/Loans
22.98%
Effective Tax Rate
$52.6
Total Operating Revenue 1 $194 million $194 million Net Interest Margin 1 3.72% 3.58%
Net Interest
Adj. Noninterest
Adj. Noninterest
Provision for
Income
Reversal of tax
Preferred
Adj. Net Income
Net Interest Income
$152 million
$153 million
Income
Income¹
Expense¹
credit losses
Taxes
benefit from
non-operating costs
Dividend
to Common
Shareholders¹
Adj. Noninterest Income 1
$42 million
$41 million
-$110.3 -$9.6 -$16.7 -$0.5 -$4.6
Adj. Net Interest Margin 1 3.62% 3.46%
Wealth management exhibits excellent performanceAssets Under Care of $16.7 billion at 9/30/26, up $1.8 billion YoY, or 12%, as net AUC inflows across our footprint augmented rising market impact
3Q26 Wealth revenue of $20 million, up 15% YoY, with a pre-tax profit margin of 50.3% in 3Q26
Capital capacity remains compelling as share repurchase initiative continuesCET1 at 12.47%, up 14 bps YoY. Ex-AOCI, TBV per share up 3% YoY and up 7% inclusive of dividends
shares that were outstanding at 3/31/25 and returned $258 million to shareholders via buybacks
Total Assets
$18.2 billion
$18.6 billion
Total Loans
$13.2 billion
$12.8 billion
Total Deposits
$15.1 billion
$15.5 billion
TBV / Share 1
$20.40
$19.37
Since embarking on share repurchase initiative in March 2025, repurchased ~11% of the total common
Adj. Pre-Provision Net Revenue 1 $85 million $84 million
Adj. PPNR ROAA 1 1.90% 1.80%
Adj. ROAA 1 1.43% 1.23%
Adj. ROATCE 1
14.61%
13.25%
Efficiency Ratio 1
54.0%
54.4%
Sustained sequential deposit growth amid anticipated loan attrition as overall asset quality remains healthyRepurchase Plan Update
Common Shares Repurchased
Average Price
$ Return to Shareholders
FY 2025
3.06 million
$22.81
$69.9 million
1Q26
2.62 million
$25.07
$65.6 million
2Q26
2.34 million
$26.98
$63.1 million
3Q26
1.97 million
$30.21
$59.6 million
Total
9.99 million
$25.84
$258.2 million
Deposits increased by $409 million during 3Q26, or 11% annualized, driven by strategic efforts to grow core client deposits, and accompanied intentional runoff of
$50 million of brokered deposits during the quarter. This followed a 2Q26 deposits increase of $393 million, 11% annualized, and loan-to-deposit ratio is now at 82.5% compared to 91.0% as of 12/31/25
Loans declined by $373 million impacted by payoff headwinds and due to the reclassification of a ~$65 million pool of commercial lender finance loans into held for sale during 3Q26 (sale completed on 10/1/26 for a small premium). Asset quality in the overall portfolio remains healthy relative to peers with NPAs / Assets of 0.45%
1 Non-GAAP calculations, see Appendix
Earnings Performance Adjusted Net Income & Earnings Per Common Share 1 Adjusted ROATCE & Adjusted ROAA 1$ in millions
$57.4
$60.6
$58.6
$59.1
$52.6
$0.68
$0.69
$0.67
$0.64
$0.63
Adj. Net Income Avail. to Common S/H Adj. EPS
2025 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3
Adj. ROATCE Adj. ROAA
14.0%
14.3%
14.1%
14.6%
13.2%
1.41%
1.42%
1.43%
1.33%
1.23%
2025 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3
Tangible Common BV 1 / Share (ex-AOCI) + Dividends 2 Earnings Track Record: Adjusted EPS1 5-Year Trend
$31.81
$0.80
+10% CAGR
+$18.76
$13.05
$30
$0.70
$20
$0.60
$0.50
$10
FY 2016
FY 2017
FY 2018
FY 2019
FY 2020
FY 2021
FY 2022
FY 2023
FY 2024
FY 2025
2026
Q3
$0.40
2021
Q3
2022
Q3
2023
Q3
2024
Q3
2025
Q3
2026
Q3
Current common stock dividend yield of 3.4%3
1 Non-GAAP calculation, see Appendix | 2 Includes cumulative dividends per share over the period | 3 Market Data for BUSE updated to close on 10/26/26
Investment Highlights Financial HighlightsBalance Sheet Strength
3Q26
KRE Median MRQ 3
$ in billions
Core Deposits Asset Quality Robust Capital
Total Assets $18.6 $11.6
94.0% core deposit1 base that is granular and low cost at 1.93% total cost of deposits in 3Q26
High quality, conservatively underwritten loan portfolio with low levels of concentration; strong reserve levels with
Robust capital foundation with capital ratios at a $800 million+ excess over well-capitalized minimums with capital buffer2
Total Loans $12.8 $8.3
Total Deposits $15.5 $9.2
allowance/loans at 1.28%
Total Wealth AUC
$16.7
NM
TCE Ratio1
8.7 %
8.8 %
Attractive Profitability and Returns
CET1 Ratio2
12.5 %
12.6 %
NPA/Assets
0.45 %
0.49 %
Efficient Profits Dividends Share Repurchases
Net Interest Margin 1 3.58 % 3.76 %
Significantly improved ROAA1 and Efficiency Ratio1 with initiatives undertaken
Quarterly common stock dividend of $0.26 (3.4% yield)4, with dividend payout
Active share repurchase program: since March 2025, buybacks representing ~11% of
Adj. Nonint. Income % of Operating Revenue 1
21.2 % 16.6 %
Disciplined Growth Strategy Driven by Regional Operating Model
over the last twelve months
Organic growth powered by an approach that brings the full capabilities of commercial, wealth, and payments to each community through local leadership and autonomy
ratio ranging from 37%-41% in the last twelve months
Wealth Management AUC of
$16.7 billion at 9/30/26, up 12% YoY, supported by net new inflows including from new Western markets
outstanding common shares and returning $258 million to shareholders
Executed nine strategic acquisitions over the last eleven years to enhance franchise value without unduly diluting shareholders, including the TBV-accretive acquisition of $7.5 billion asset CrossFirst in March 2025
Adj. PPNR ROAA 1 1.80 % 1.89 %
Adj. ROAA 1 1.23 % 1.39 %
Adj. ROATCE 1 13.25 % 15.06 %
Efficiency Ratio 1 54.4 % 54.9 %
Market Cap 4 $2.5 $1.8
Dividend Yield 4 3.4% 2.6 %
Price / TBV 4 1.6x 1.6x
Price / 2026E 5 11.3x 11.5x
1 Non-GAAP calculation, see Appendix | 2 3Q26 capital ratios are preliminary estimates | 3 Most recent quarter reported for KRE components as of 10/26/26 | 4 Market Data for BUSE updated to close on 10/26/26
5 Based on consensus median net income of covering analysts as of 10/26/26
Strategically Configured Regional Operating Model$8B deposits
$5B $14B
loans AUC
Enterprise-wide sales structure is organized by region - bringing full capabilities and the complete Busey experience to each community through local leadership and autonomy
$3B
deposits $0.2B
$2B loans
AUC
$1B loans
$1B deposits
$1B loans
$1B deposits
Notes: Balances based on origination location; data as of 9/30/26
Focused on bringing the full breadth of commercial, wealth, and payments to provide a broad set of financial solutions to well-capitalized individuals and the companies they own & operate
$2B deposits
$2B loans
$3B AUC
$1B
loans
Life Equity Lending Structured Finance Energy Banking SBA Lending
High Quality Loan Portfolio Loan Portfolio CompositionOther
5%
Residential
Real Estate 16%
Real Estate Construction 8%
Total Loan Portfolio:
$12.8
Billion
Commercial &
Industrial 30%
Non-Owner-Occupied CRE 30%
Owner-Occupied CRE 11%
As of 9/30/26
Commercially-oriented portfolio is
well-diversified by sector and geographic location and conservatively underwritten with low levels of concentration
Commercial Loans /
Loan YieldDisciplined loan pricing remains a key enterprise-wide priority
Net New Funding Yield Loan Yield SOFR 30D (Avg)
7.06%
Total Portfolio
79%Classified Assets / Capital 1
100/300 Test
46% C&D /218% CRE
NPLs / Total Loans
6.35%
6.49%
6.23%
6.32%
6.20% 6.10% 6.03% 5.97% 5.99%
4.35%
10.6% 0.64%
4.09%
3.68% 3.63% 3.64%
KRE Mean MRQ 2 KRE Mean MRQ 2
13.0% 0.72%
9/30/25 12/31/25 3/31/26 6/30/26 9/30/26
Loan Portfolio Regional Segmentation 33Q26 Loan Balances Change
Anticipated QoQ balance decline influenced by loan pool sale, and payoff headwinds that are expected to continue into 4Q26
paydown pressures in Chicagoland
$ in millions % of | ||||
Portfolio 2026 Q2 | QoQ ∆ | 2026 Q3 | Total | |
East (Chicago, Southwest FL) $2,549 | -$116 | $2,433 | 19.0 % | |
Midwest $4,597 | -$11 | $4,586 | 35.8 % | |
Central $1,896 | +$20 | $1,916 | 14.9 % | |
Texas | ||||
(Dallas, Fort Worth) $1,615 | -$221 | $1,394 | 10.9 % | |
East region experienced forecasted payoff and
$ in millions
+$600
+$407
-$65
-$592
+$21
(Central IL, Indy, St. Louis)
(KC, Wichita, OKC, Tulsa)
West
(AZ, CO, NM) $1,072 +$22 $1,094 8.5 %
Verticals $1,466 -$67 $1,399 10.9 %
Total Loans $13,195 -$373 $12,822 100 %
Texas region loan balances pressured by payoff headwinds during the quarter. Also reclassified a
~$65 million pool of lender finance commercial loans into held for sale, then completed sale on October 1 for an expected small gain in 4Q26
West region produced growth of 2% QoQ; driven by production from new hires and existing teams in Phoenix and Denver markets
Life Equity Lending continued to provide strong loan production that partially offset declines in other verticals
-$400
New Loan Production
Net Line of Credit Draws
Lender Finance Loan pool moved to held for sale
-$143
Payoffs⁴ Amortization
1 Capital is Busey Bank Tier 1 Capital (preliminary estimates) + Allowance for credit losses | 2 Most recent quarter reported for KRE components as of 10/26/26 | 3 Based on loan origination
4 Includes $11.4 million of net charge-offs, which represent an immaterial percentage of other payoffs
Strong Credit QualityOur conservative approach to credit risk management has resulted in a continued legacy of strong and stable credit quality
Loans 90+ days past due and still accruing of $0.7 million at 9/30/26, or 0.01% of total loans, and loans 30-89 days past due represent 0.13% of total loans
OREO and repossessed asset balances total $2.0 million at 9/30/26
NPAs increased by $13.3 million QoQ, primarily due to one
$37.6 million commercial relationship in the Central region that had previously been risk rated special mention. Due to emerging circumstances, the relationship was moved to nonaccrual status, incurred a partial charge-off of $10.0 million, and was allocated an individual reserve of $17.8 million against the remaining $27.6 million balance at 9/30/26. As a result, 3Q26 net credit provision expense increased to $9.6 million, compared to $2.2 million in 2Q26.
Excluding the $10.0 million charge-off related to this one credit relationship, NCOs would have been 0.04% in 3Q26
Net Charge-Offs / Average Loans (Annualized) 1Nonperforming Assets / Total Assets
$ in millions
Busey KRE Mean
0.52%
0.40%
0.45%
0.39%
0.32%
0.28%
0.19%
0.55% 0.57% 0.58%
0.06%
2023 YE 2024 YE 2025 YE 2026 Q1 2026 Q2 2026 Q3
Allowance / LoansBUSE NPAs
$7.9
$23.3
$58.1
$49.9
$70.3
$83.6
$ in millions
Busey KRE Mean
Busey KRE Mean
0.32%
0.26%
0.23%
0.26%
0.35%
1.22%
1.28%
1.26%
1.24%
1.28%
0.17% 0.17%
0.22%
0.19%
1.20%
1.24% 1.23% 1.23% 1.22%
1.08%
2025 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3
2023 YE 2024 YE 2025 YE 2026 Q1 2026 Q2 2026 Q3
BUSE NCOs
$5.8
$5.8
$7.4
$6.4
$11.4
Reserves + purchase accounting marks / loans = 1.84%
Allowance to Nonperforming Loans coverage of 2.01x
1 Average loans was calculated as the average of the ending portfolio loan balances over the most recent four quarters
Top Tier Core Deposit Franchise Deposit Portfolio CompositionAs of 9/30/26
Low Cost, Granular Deposit Base with an Efficient Branch Footprint
34%
% of Total Deposits priced at 1 bp or less
1.93%
MRQ Average Cost of Deposits
$194 million
Average Deposits per Branch
82.5%
Loan-to-Deposit Ratio
94.0%
Core Deposits1
Interest-bearing 22.8%
Noninterest-bearing 22.1%
Total Deposits:
$15.5
BillionSavings & Money Market 39.6%
Time
>250k 5.9%
Time
<250k 9.5%
Brokered 0.1%
Deposit Portfolio Trend$ in millions
+$802 million, or 5%, over last 2 quarters
Total Deposits Total Cost of Deposits
1.81%
$14,736
1.91%
$14,906
1.80%
$15,129
$15,070
2.15%
1.93%
$15,538
CD Maturity Schedule as of 9/30/26 4Q26 1H27 2H27Balances ($ millions)
Weighted Average Rate
$755 $1,224
$315
3.5 %
3.4 %
3.8 %
New CD production in 3Q26 had a weighted-average term of 9.2 months and a weighted-average rate of 3.5%
2025 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3
Spot total cost of deposits was 1.97% at 9/30/26, compared to spot cost of 1.87% at 6/30/26 and 3Q26 total average cost of deposits of 1.93%
1 Non-GAAP calculation, see Appendix
Net Interest MarginNet Interest Income Trend $ in millions Net Interest Margin Trend 1
Net Interest Income ex-PAA
Purchase Accounting Accretion
Earning Assets Cost of Funds NIM
$5.9 | $5.2 | $5.4 | $4.2 | $5.2 | 3.58% 3.71% 3.77% 3.72% 3.58% | ||||||||
$149.2 | $152.4 | $148.6 | $148.2 | $148.0 | 2.22% | 1.97% | 1.89% | 1.89% | 1.99% | ||||
2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | 2026 Q3 | 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | 2026 Q3 | ||||
$155.1 $157.6 $154.0 $152.4 $153.1
5.63% 5.63% 5.53% 5.47% 5.43%
Avg IE Assets ($B) | $17.27 | $16.94 | $16.67 | $16.51 | $17.06 |
Note: Company Purchase Accounting Schedule in appendix
Reported | Ex-PAA | ||
Net Interest Income | +$0.7 million | 0.5% | -$0.2 million -0.1% |
Net Interest Margin | -14 bps | -16 bps | |
Continue to benefit from the substantial amount of low-yield loans and securities rolling off into higher-yield products
3Q26 Net New Loan Funding Yield:
6.32%
Scheduled Maturities / Repricing of Fixed Rate Loans
4Q26 2027 2028
As expected, -12 bps in NIM decline was due to higher cash balances during the quarter as a result of recent significant success in growing deposits (average cash balances of $689 million during 3Q26 compared to $124 million during 2Q26). Expect NIM to modestly improve in 4Q26.
Nonaccrual-related interest income reversals during 3Q26 pressured NII by
-$0.6 million, and NIM by -2 bps
Purchase Accounting Accretion contribution to NII increased by $1.0 million
Balances ($ millions)
Weighted Average Rate
4.9 %
5.0 %
5.3 %
4Q26 2027 2028
Roll-off of Securities
Roll-off Cash Flow
$389 $992 $679
Approximate Roll-off Yield
3.4 %
3.4 %
3.7 %
QoQ due to higher than expected payoffs of discount marked loans, while ex-PAA net interest income was relatively stable, down -0.1%
($ millions) $90 $342 $374
Ex-PAA NIM Trend 3.33% 3.45% 3.08% | 3.59% | 3.64% | 3.62% | 3.46% | Net Interest Income Rate Sensitivity 2 Balance sheet remains well-positioned for | Rate Shock +200 bps +100 bps | Year 1 NII Impact +2.5% +1.5% | Year 2 NII Impact +2.9% +1.7% | |
2025 Q1 2025 Q2 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | 2026 Q3 | rate neutrality | -100 bps | -0.6% | -1.6% | |
-200 bps | -0.4% | -2.7% |
New Securities purchased at:
~5.10%
1 Tax-equivalent adjusted amounts; Non-GAAP, see Appendix
2 Based on a static balance sheet that is projected over one- and two-year time horizons, with net interest income calculated under current market rates assuming permanent instantaneous shifts
Diversified and Significant Sources of Noninterest Income Adjusted Noninterest Income / Operating Revenue 3$ in millions
21.2%
Adjusted Noninterest IncomeAs a percentage of
Total Revenue 1Adj. Nonint. Inc. Net Interest Income Adj. Nonint. Inc./Op. Rev.
79.2%
Wealth +
Payments/Treasury Management + Capital Markets
As a percentage of
Total Noninterest Income 2$196.7
$155.1
$200.9
$157.6
$197.2
$154.0
$194.3
$152.4
$194.3
$153.1
21.1%
21.6%
21.9%
21.6%
21.2%
$41.5
$43.4
$43.2
$41.9
$41.1
2025 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3
Sources of Noninterest Income$ in thousands
Noninterest Income Detail
2025 Q3
YoY Change
% of Total
2026 Q3 (Adj.)
Payment Technology Solutions includes lockbox/ACH payment processing, merchant services, online payments, and other electronic payments
Wealth Management Fees | $17,184 | +15% | $19,846 | 48.3 % |
Payment Technology Solutions | 5,092 | 0% | 5,108 | 12.4 % |
Treasury Management Services | 4,228 | +14% | 4,824 | 11.7 % |
Capital Markets | 1,936 | -24% | 1,472 | 3.6 % |
Card Services and ATM Fees | 4,799 | -1% | 4,733 | 11.5 % |
Other Service Charges on Deposit Accounts | 1,617 | -16% | 1,361 | 3.3 % |
Income on Bank Owned Life Insurance | 1,623 | +2% | 1,659 | 4.0 % |
Other Noninterest Income4 | 5,007 | -58% | 2,102 | 5.1 % |
Adjusted Noninterest Income | $41,486 | -1% | $41,105 | 100 % |
Net Securities Gains (Losses) | (288) | (703) | ||
Total Noninterest Income | $41,198 | $40,402 |
Treasury Management Services includes commercial cash management services, wires, and other commercial business service charges
Capital markets team built out in 2H25 and includes directors of derivatives, syndications, and international banking. Capital markets income is tied to loan
production and to a certain extent, volatility of interest rates.
3Q26 Card Services line item includes $1.2 million of interchange fees from corporate credit cards that are managed by Treasury Management team
YoY decrease in other noninterest income is primarily due to a large positive other asset valuation that occurred in 3Q25; these other asset valuations will typically fluctuate. Additionally, 3Q26 other noninterest income was negatively impacted by $0.7 million due to reclassifying a pool of lender finance commercial loans into held for sale, which triggered a lower-of-cost-or-market adjustment, primarily attributable to the purchase premium assigned to these loans at the CrossFirst acquisition.
1 3Q26 adjusted noninterest income contributed 21.2% of total operating revenue (excludes net securities gains)
279.2% of 3Q26 adjusted noninterest income is contributed by wealth management fees, wealth management referral income included in other noninterest income, payment technology solutions revenue, revenue lines managed by treasury management division (treasury management services revenue and corporate credit card interchange), and capital markets
3 Non-GAAP calculation, see Appendix | 4 Approximately $0.2 million and $0.1 million of Other Noninterest Income was attributable to the wealth segment in 2Q26 and 3Q26, respectively
$16.7 Billion Assets Under Care $77.9 Million LTM Revenue 1 48.5% LTM PT Margin 2
Assets Under CareStrong growth in Assets Under Care (AUC) as net inflows have augmented market growth over the last twelve months
Wealth Revenue 1 and Pre-Tax Income 23Q26 Wealth revenue1 of $20.0 million, a YoY increase of 15%
Pre-tax profit margin2 of 50.3% in 3Q26 and 48.5% over the last twelve months
AUC is up $1.8 billion YoY, or 12%
Revenue Pre-Tax Income ² Pre-Tax Profit Margin ²
$ in millions
$20.1
$20.0
$17.4
$18.3
$19.5
46.6%
48.2%
49.0%
50.3%
43.0%
$9.9
$10.0
$7.5
$8.5
$9.4
$ in millions
$14,959
$15,647
$15,657
$16,506
$16,720
2025 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3
2025 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3
Sustained momentum in net new inflows has contributed to YoY AUC growth
New wealth teams established in Kansas City, Wichita, Oklahoma City, Dallas, Denver, and Phoenix over the last twelve months
AUC in these new Western markets has grown to $231 million as of 9/30/26, with robust AUC in pipelines
Integrated comprehensive capabilities to serve Personal & Institutional Clients
Wealth Revenue Composition 1% of Total WM Revenue | 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | 2026 Q3 |
Trust / Agency | 86.2 % | 86.3 % | 83.6 % | 82.7 % | 89.0 % |
Brokerage | 8.0 % | 8.2 % | 7.7 % | 7.4 % | 8.0 % |
Ag Services | 0.6 % | 1.6 % | 6.7 % | 3.0 % | 1.5 % |
Tax & Financial Planning | 0.6 % | 0.5 % | 0.5 % | 4.0 % | 0.5 % |
Estate Settlement | 3.4 % | 2.2 % | 0.5 % | 2.0 % | 0.5 % |
Other | 1.1 % | 1.1 % | 1.0 % | 1.0 % | 0.5 % |
Total | 100 % | 100 % | 100 % | 100 % | 100 % |
Typical seasonal revenue declines from Tax & Financial Planning and Ag Services, and lower Estate Settlement results in slight overall Wealth
revenue decline, despite core Trust/Agency revenue increasing 7% QoQ
1 Wealth Management segment | 2 1Q26 wealth management pre-tax income is adjusted to exclude non-operating expenses
Uniquely positioned to combine the capabilities of larger advisory firms with the personalized approach of a boutique investment firmNearly 160 year-old firm with an uncompromised commitment to always act in the best interest of our clients, guiding decisions on what matters most and building a path to multigenerational success
Large Advisory Firms
Client accessibility to team can be limited due to large spread of client base
Service can become standardized as focus shifts to scalability & driving growth
Comprehensive wealth platform covering all primary services
Access to varied solutions providing optionality for specific client needs
Enterprise-wide team collaborating to develop the best solutions for the client; seamless interconnectivity with bank services
Personalized client prospecting and relationship management programs with scalability
Flat nature of Proactive client organization allows engagement with a for access to tailored, client-decision-makers focused approach
Firm continuity may depend heavily on the investment expertise of a few key professionals
Variety of solutions likely to be limited due to resource constraints
Boutique Investment Firms
Comprehensive and Integrated Core Capabilities to Serve Personal and Institutional ClientsINVESTMENT MANAGEMENT FINANCIAL PLANNING
TAX PLANNING & PREPARATION PRIVATE CLIENT
TRUST SERVICES LEGACY PLANNING AG SERVICES
HOUSEHOLD OPERATIONS
Fully Internalized Investment Office
Experienced & credentialed team using specialized research and analysis to develop adaptive, tax efficient investment strategies
Core satellite portfolios have produced outperformance vs. benchmarks1 in 1-Year, 3-Year, 5-Year, and 7-Year measurement periods
1 Busey Wealth Management's blended portfolio returns vs. blended benchmark of 60% MSCI All-Country World Index and 40% Bloomberg Intermediate Govt/Credit Index
Focused Control on Expenses Efficiency Ratio 1 Trend61.8%
60.2%
58.7%
55.3%
54.8%
55.0%
54.8%
54.0%
54.4%
2024 Q3 2024 Q4 2025 Q1 2025 Q2 2025 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3
Company priority to continue delivering positive operating leverage over the long run: Positive operating leverage of 1.2% year-to-date
Expense discipline offset headwinds from loan contraction
Adjusted NIE (including amortization of intangibles) increased 0.7% QoQ
Continue to be mindful and diligent on expenses, focused on employing the best talent and deploying a best-in-class product set to position the company for efficient future growth
Operating revenue1 per employee is $107k at 9/30/2026
compared to $78k at 12/31/2024, up 38% since 12/31/2024
Expect 4Q26 adjusted NIE of $113-$114 million
Successfully delivered significant cost synergies since acquisition of CrossFirst Bankshares on 3/1/2025
$ in millions 2025 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3
Adjusted Noninterest Expense Summary$ in millions | 2026 Q2 | Change | 2026 Q3 | Total Adj. | |||||
Noninterest Expense $120.0 | $120.3 | $129.5 | $112.6 | $111.4 | Salaries & Benefits | $65.6 | +0.2% | $65.7 | 59.6 % |
Acquisition & Restructuring | Data processing | $8.9 | +5.6% | $9.4 | 8.5 % | ||||
Expenses (-) $7.2 | $4.8 | $16.7 | $3.1 | $1.1 | |||||
Occupancy & Equipment | $10.2 | +2.9% | $10.5 | 9.5 % | |||||
Adjusted NIE 1 $112.8 | $115.5 | $112.8 | $109.5 | $110.3 | Professional fees | $2.3 | +8.7% | $2.5 | 2.3 % |
Amort. of intangible assets | $4.2 | 0.0% | $4.2 | 3.8 % | |||||
Amortization of Intangibles (-) | $4.5 | $4.4 | $4.3 | $4.2 | $4.2 | ||||
QoQ
% of
Other NIE $18.3 -1.6% $18.0 16.3 %
Adjusted NIE excluding Amortization of Intangibles 1 | $108.3 | $111.1 | $108.5 | $105.3 | $106.1 | Adjusted NIE 1 | $109.5 | +0.7% | $110.3 | 100 % |
1 Non-GAAP, see Appendix | Note: Certain totals above may not tie exactly due to rounding. Detail amounts can be found in Non-GAAP table within Appendix
Robust Capital Foundation Tangible Common Equity 1$ in millions
Common Equity Tier 1 2$ in millions
TCE TCE Ratio
Common Equity Tier 1 CET1 Ratio Min + Buffer Ratio
$1,908
$1,836
12.3%
12.5%
7.0%
$1,859
12.5%
$1,880
12.3%
12.4%
$1,920
8.7%
$1,574
9.6%
$1,697
9.8%
$1,722
10.1%
$1,773
9.9%
$1,748
AOCI declined
$101 million in 3Q26 vs. 2Q26,
contributing to the majority of the decline in the TCE Ratio
2025 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3
2025 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3
Adjusted Common Stock Payout Ratio 3 Consolidated Capital as of 9/30/26 2
Dividend Payout Ratio Payout Ratio with Dividends & Share Repurchases
$ in millions
Common Equity
Tier 1 Capital
Total Capital
150%
151%
155%
Tier 1 Ratio
Ratio
Ratio
Excess over Well Cap. Min. with Buffer
$805
$807
$825
Capital Ratio 12.5 % 14.0 % 16.1 %
100%
Minimum Well Capitalized with Capital Buffer
7.0 % 8.5 % 10.5 %
Amount of Capital $1,836 $2,059 $2,372
144%
86%
63%
50%
-%
39% 37% 39% 37% 41%
2025 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3
Well Capitalized Minimum with Buffer
$1,031 $1,252 $1,547
1 Non-GAAP calculation, see Appendix | 2 3Q26 capital ratios are preliminary estimates
3 Common dividends and share repurchases during period divided by adjusted net income available to common shareholders during period
FIRST BUSEY CORPORATION
Se
Seasoned Leadership TeamVan A. Dukeman
Chairman, President & CEO, First Busey Corp. Chairman & CEO, Busey Bank
Amy L. Randolph
Chief Operating Officer
25%
100%
25%
Relative Operating ROAA vs. Proxy Peer Group
Relative TBV growth ex-AOCI plus cumulative dividends and share repurchases vs. Proxy Peer Group
Total
50%
Long-term incentives
Relative Total Shareholder Return vs. KRE constituents
100%
Total
5%
Regulatory Ratings
10%
Core Deposit Growth
20%
Fee Revenue from Wealth Mgmt., Payment Technology Solutions, Treasury Mgmt., and Capital Markets
25%
Asset Quality vs. Proxy Peer Group
40%
Short-term incentives
Operating EPS
Executive compensation reinforces
corporate priorities and is aligned with driving long-term shareholder value
Weighting
2026 Executive Compensation Performance-Based Measures
Has served as Chairman & CEO of First Busey since 2007 and became Chairman of the Board effective July 2020. Offers 40 years of diverse financial services experience and extensive board involvement with a conservative operating philosophy and management style that focuses on Busey's associates, customers, communities and shareholders.
Joined Busey in 2008 and has nearly 30 years of financial and leadership experience. Oversees various areas at Busey and its subsidiaries, including human resources, corporate communications, executive administration, marketing, the overall Busey experience, enterprise and strategic projects, as well as consumer and digital banking. Prior to Busey, Amy worked for 10+ years with CliftonLarsonAllen LLP.
Chris H.M. Chan
Chief Financial Officer
Monica L. Bowe
Chief Risk Officer
Joined Busey in September 2025. Oversees various areas at Busey and its subsidiaries-including accounting and corporate reporting, financial planning and analysis, budgeting and forecasting, artificial intelligence, capital management, treasury, specialty finance and community investments, corporate development and investor relations. Chris previously served as Chief Strategy Officer at First National Bank, the largest subsidiary of F.N.B. Corporation.
Amy J. Fauss
Chief Information & Technology Officer
Joined Busey in March 2025 with the CrossFirst Bankshares merger and oversees various areas at Busey and its subsidiaries, including all information technology and business services and systems, service support, enterprise lending services, enterprise deposits and payments, and facilities. Previously, Amy held multiple executive leadership roles with CrossFirst Bank, most recently serving as Chief Operating Officer.
Chip Jorstad
Chief Credit Officer
Joined Busey in 2011 and has over 20 years of experience in the financial services industry. Chip oversees all aspects of credit administration at Busey Bank, including commercial and consumer credit, portfolio monitoring and special assets. Before being named Chief Credit Officer in 2025, he held the roles of President of Credit and Bank Administration, Co-Chief Banking Officer, and Regional President for Commercial Banking.
Joined Busey in January 2020 with over 25 years of financial leadership experience, including a 16-year tenure with KeyCorp. Oversees various areas at Busey and its subsidiaries, including enterprise, operational and third-party risk management, compliance, fair and responsible banking, vendor management, model risk, business continuity and information security.
Tony Hammond
President, Busey Bank
Joined Busey in May 2025. Oversees Busey's regional operating sales and revenue model which includes all commercial, wealth, treasury management, payments and specialty business units. Tony has two decades of commercial banking experience-including serving as Head of Commercial and Middle Market Banking at HTLF and senior leadership roles at Arizona Bank & Trust, Johnson Bank and BOK Financial-with a track record of consistently leading high-performing teams, growing market share and attracting top talent across the industry.
Michael A. Peluso
General Counsel
Joined Busey in 2015 and served as Assistant General Counsel and then Deputy General Counsel prior to assuming his current role in 2026. Prior to joining Busey, Mike began his legal career in the Global Finance group of Sidley Austin LLP in Chicago. He earned a Bachelor of Arts from Cornell University and his Juris Doctor with honors, Order of the Coif, from the University of Chicago Law School.
Purchase Accounting ProjectionsProjections
4Q26
1Q27
2Q27
3Q27
4Q27 Thereafter
($ in thousands)
Actuals
Accretion/Amortization Impact Item
FY 2025
1Q26
2Q26
3Q26
Estimated accretion schedule of loan discounts based on anticipated cash flow. These projections include remaining purchase accounting impact from all prior M&A transactions.
Loans Accretion | 20,507 | 5,759 | 4,514 | 5,564 | 4,610 | 3,736 | 3,657 | 3,576 | 3,387 | 52,870 | |
CD Accretion | 1,710 | -8 | -6 | -7 | -5 | 0 | 2 | 5 | 7 | 275 | |
Borrowings Amortization | -1,316 | -357 | -358 | -358 | -359 | -306 | -306 | -278 | -124 | -2,692 | |
Net NII Impact | 20,901 | 5,394 | 4,150 | 5,199 | 4,246 | 3,430 | 3,353 | 3,303 | 3,270 | 50,453 | |
Core Deposit Intangible & Wealth Intangibles | -16,614 | -4,291 | -4,232 | -4,151 | -4,082 | -3,938 | -3,878 | -3,798 | -3,728 | -65,350 | |
Amortization | |||||||||||
Total Pre-Tax Income Impact | 4,287 | 1,103 | -82 | 1,048 | 164 | -508 | -525 | -495 | -458 | -14,897 |
This presentation 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 Busey's performance and in making business decisions, as well as for comparison to Busey's peers.
Busey believes the adjusted measures are useful for investors and management to understand the effects of certain non-core and non-recurring items and provide additional perspective on Busey's performance over time.
Included in the Appendix are tables that present reconciliations between these non-GAAP measures and what management believes to be the most directly comparable GAAP financial measures.
These non-GAAP disclosures have inherent limitations and are not audited. They should not be considered in isolation or as a substitute for operating results reported in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. Tax-effected numbers included in these non-GAAP disclosures are based on estimated statutory rates, estimated federal income tax rates, or effective tax rates, as noted in the tables below.
Calculation of Adjusted Net Income and Adjusted Diluted Earnings Per Common Share
Three Months Ended Nine Months Ended
September 30, | June 30, | September 30, | September 30, | September 30, | ||
(dollars in thousands, except per share amounts) | 2026 | 2026 | 2025 | 2026 | 2025 | |
Net income (GAAP) | [a] | $ 55,845 | $ 63,176 | $ 57,098 | $ 169,002 | $ 74,512 |
Day 2 provision for credit losses1 | - | - | - | - | 45,572 | |
Adjustment of initial provision for unfunded commitments due to adoption of new model2 | - | - | - | - | 4,030 | |
Other acquisition (income) expenses | 1,132 | 1,196 | 7,251 | 7,572 | 49,877 | |
Restructuring expenses | (31) | 1,930 | - | 13,355 | - | |
Net securities (gains) losses | 703 | (2,445) | 288 | (802) | 10,059 | |
Related tax benefit3 | (451) | (170) | (2,141) | (5,031) | (29,181) | |
Non-recurring deferred tax adjustment4 | - | - | - | - | 4,919 | |
Adjusted net income (Non-GAAP) | [b] | 57,198 | 63,687 | 62,496 | 184,096 | 159,788 |
Preferred dividends | [c] | 4,589 | 4,590 | 5,131 | 13,768 | 5,286 |
Adjusted net income available to common stockholders (Non-GAAP) | [d] | $ 52,609 | $ 59,097 | $ 57,365 | $ 170,328 | $ 154,502 |
Weighted average number of common shares | |||||||||||
outstanding, diluted (GAAP) | [e] | 83,733,110 | 85,385,382 | 90,218,382 | 85,634,496 | 83,609,999 | |||||
Diluted earnings per common share (GAAP) | [(a-c)÷e] | $ 0.61 | $ 0.69 | $ 0.58 | $ 1.81 | $ 0.83 | |||||
Adjusted diluted earnings per common share (Non-GAAP) | [d÷e] | $ | 0.63 | $ | 0.69 | $ | 0.64 | $ | 1.99 | $ | 1.85 |
The Day 2 provision represents the initial provision for credit losses recorded in connection with the CrossFirst acquisition to establish an allowance on non-PCD loans and unfunded commitments and is reflected within the provision for credit losses line on the Statements of Income.
In the second quarter of 2025, Busey recorded an adjustment to the initial provision for unfunded commitments for CrossFirst acquisition-date balances based on revised estimates resulting from implementation of a new CECL model.
Tax benefits were calculated using tax rates of 25.0% and 26.6% for the nine months ended September 30, 2026 and 2025, respectively. Tax benefits for quarterly periods were calculated as the year-to-date tax amounts less the tax reported for previous quarters during the year.
A deferred valuation tax adjustment was recorded in the first quarter of 2025 in connection with the CrossFirst acquisition and the expansion of Busey's footprint into new states. Deferred tax adjustments are reflected within the income taxes line on the Statements of Income.
Calculation of Return On Average Assets, Return On Average Tangible Common Equity, and Related Adjusted Return Measures
Three Months Ended Nine Months Ended
163,439
179,833 $
60,662 $
62,271 $
55,722 $
$
[d]
Adjusted tangible net income available to common stockholders (Non-GAAP)
Return on average tangible common equity (Non-GAAP)3, 4
[b÷f]
12.93 %
14.49 %
12.72 %
12.82 %
6.35 %
Tangible net income available to common stockholders (Non-GAAP)
[b]
$
54,369 $
61,760 $
55,264 $
164,739 $
78,163
(dollars in thousands)
September 30,
2026
June 30,
2026
September 30,
2025
September 30,
2026
September 30,
2025
Amortization of intangible assets
4,151
4,232
4,507
12,674
12,182
Preferred dividends
(4,589)
(4,590)
(5,131)
(13,768)
(5,286)
Amortization of intangible assets
4,151
4,232
4,507
12,674
12,182
Preferred dividends
(4,589)
(4,590)
(5,131)
(13,768)
(5,286)
Return on average assets (Non-GAAP)3
[a÷e]
1.20 %
1.42 %
1.21 %
1.25 %
0.57 %
Average goodwill and other intangible assets, net
(469,792)
(474,043)
(486,625)
(474,207)
(464,316)
Net income (GAAP) [a] $ 55,845 $ 63,176 $ 57,098 $ 169,002 $ 74,512
Average tangible common equity (Non-GAAP) [f] $ 1,668,772 $ 1,709,247 $ 1,724,086 $ 1,717,676 $ 1,644,730
Average common equity $ 2,138,564 $ 2,183,290 $ 2,210,711 $ 2,191,883 $ 2,109,046
Adjusted return on average assets (Non-GAAP)3 [c÷e] 1.23 % 1.43 % 1.33 % 1.36 % 1.22 %
Average total assets [e] $ 18,470,939 $ 17,887,097 $ 18,662,449 $ 18,140,923 $ 17,534,644
Tax effect of amortization of intangible assets1 (1,038) (1,058) (1,210) (3,169) (3,245)
Adjusted net income (Non-GAAP)2 [c] $ 57,198 $ 63,687 $ 62,496 $ 184,096 $ 159,788
Tax effect of amortization of intangible assets1 (1,038) (1,058) (1,210) (3,169) (3,245)
Adjusted return on average tangible common
equity (Non-GAAP)3, 4 [d÷f] 13.25 % 14.61 % 13.96 % 14.00 % 13.29 %
Tax effects were calculated using income tax rates of 25.0% and 26.6% for the nine months ended September 30, 2026 and 2025, respectively. Tax effects for quarterly periods were calculated as the year-to-date tax amounts less the tax reported for previous quarters during the year.
A reconciliation is provided on the previous table.
Annualized measure.
Beginning in 2026, Busey revised, for all periods presented, its calculation of return on average tangible common equity and adjusted return on average tangible common equity
to eliminate the effects of intangible asset amortization from the numerator of both calculations.
Calculation of Net Interest Margin and Adjusted Net Interest Margin
Three Months Ended Nine Months Ended
September 30, | June 30, | September 30, | September 30, | September 30, | ||
(dollars in thousands) | 2026 | 2026 | 2025 | 2026 | 2025 | |
Net interest income (GAAP) | $ 153,145 | $ 152,402 | $ 155,137 | $ 459,516 | $ 412,051 | |
Tax-equivalent adjustment1 | 851 | 841 | 788 | 2,569 | 2,116 | |
Tax-equivalent net interest income (Non-GAAP) | [a] | 153,996 | 153,243 | 155,925 | 462,085 | 414,167 |
Purchase accounting accretion related to business combinations | (5,199) | (4,150) | (5,854) | (14,743) | (15,701) | |
Adjusted net interest income (Non-GAAP) | [b] | $ 148,797 | $ 149,093 | $ 150,071 | $ 447,342 | $ 398,466 |
Average interest-earning assets (Non-GAAP) | [c] | $ 17,056,264 | $ 16,508,372 | $ 17,272,362 | $ 16,744,898 | $ 16,126,422 |
Net interest margin (Non-GAAP)2 | [a÷c] | 3.58 % | 3.72 % | 3.58 % | 3.69 % | 3.43 % |
Adjusted net interest margin (Non-GAAP)2 [b÷c] 3.46 % 3.62 % 3.45 % 3.57 % 3.30 %
Tax-equivalent adjustments were calculated using an estimated federal income tax rate of 21%, applied to non-taxable interest income on investments and loans.
Annualized measure.
Calculation of Pre-Provision Net Revenue and Related Measures
Three Months Ended Nine Months Ended
September 30, | June 30, | September 30, | September 30, | September 30, | ||
(dollars in thousands) | 2026 | 2026 | 2025 | 2026 | 2025 | |
Net interest income (GAAP) | $ 153,145 | $ 152,402 | $ 155,137 | $ 459,516 | $ 412,051 | |
Total noninterest income (GAAP) | 40,402 | 44,311 | 41,198 | 126,978 | 107,284 | |
Net security (gains) losses (GAAP) | 703 | (2,445) | 288 | (802) | 10,059 | |
Total noninterest expense (GAAP) | (111,398) | (112,635) | (120,018) | (353,552) | (359,881) | |
Pre-provision net revenue (Non-GAAP) | [a] | 82,852 | 81,633 | 76,605 | 232,140 | 169,513 |
Acquisition and restructuring (income) expenses, | ||||||
excluding initial provision expenses | 1,101 | 3,126 | 7,251 | 20,927 | 49,877 | |
Adjusted pre-provision net revenue (Non-GAAP) | [b] | $ 83,953 | $ 84,759 | $ 83,856 | $ 253,067 | $ 219,390 |
Average total assets | [c] | $ 18,470,939 | $ 17,887,097 | $ 18,662,449 | $ 18,140,923 | $ 17,534,644 |
Pre-provision net revenue to average total assets (Non-GAAP)1 | [a÷c] | 1.78 % | 1.83 % | 1.63 % | 1.71 % | 1.29 % |
Adjusted pre-provision net revenue to average total
assets (Non-GAAP)1 [b÷c] 1.80 % 1.90 % 1.78 % 1.87 % 1.67 %
Annualized measure.
Calculation of Efficiency Ratio
Three Months Ended Nine Months Ended
September 30, | June 30, | September 30, | September 30, | September 30, | ||
(dollars in thousands) | 2026 | 2026 | 2025 | 2026 | 2025 | |
Net interest income (GAAP) | [a] | $ 153,145 | $ 152,402 | $ 155,137 | $ 459,516 | $ 412,051 |
Tax-equivalent adjustment1 | 851 | 841 | 788 | 2,569 | 2,116 | |
Tax-equivalent net interest income (Non-GAAP) | [b] | 153,996 | 153,243 | 155,925 | 462,085 | 414,167 |
Total noninterest income (GAAP) | 40,402 | 44,311 | 41,198 | 126,978 | 107,284 | |
Net security (gains) losses | 703 | (2,445) | 288 | (802) | 10,059 | |
Acquisition and restructuring (gain) loss | - | - | 44 | - | 44 | |
Adjusted noninterest income (Non-GAAP) | [c] | $ 41,105 $ 41,866 $ 41,530 | $ 126,176 $ 117,387 | |||
Operating revenue (Non-GAAP) | [d = a+c] | $ 194,250 | $ 194,268 | $ 196,667 | $ 585,692 | $ 529,438 |
Tax-equivalent operating revenue (Non-GAAP)2 | [e = b+c] | 195,101 | 195,109 | 197,455 | 588,261 | 531,554 |
Adjusted noninterest income to operating revenue | [c÷d] | 21.16 % | 21.55 % | 21.12 % | 21.54 % | 22.17 % |
(Non-GAAP)
Total noninterest expense (GAAP) Acquisition and restructuring expenses, excluding | $ | 111,398 | $ | 112,635 | $ | 120,018 | $ | 353,552 | $ | 359,881 |
initial provision expenses | (1,101) | (3,126) | (7,207) | (20,927) | (49,833) | |||||
Adjusted noninterest expense (Non-GAAP)3 | 110,297 | 109,509 | 112,811 | 332,625 | 310,048 | |||||
Amortization of intangible assets | (4,151) | (4,232) | (4,507) | (12,674) | (12,182) | |||||
Adjusted noninterest expense excluding amortization of intangible assets (Non-GAAP)4 [f] $ 106,146 $ 105,277 $ 108,304 $ 319,951 $ 297,866 | ||||||||||
Efficiency ratio (Non-GAAP)5
[f÷e]
54.41 %
53.96 %
54.85 %
54.39 %
56.04 %
Tax-equivalent adjustments were calculated using an estimated federal income tax rate of 21%, applied to non-taxable interest income on investments and loans.
Beginning in 2026, Busey changed the caption for this revenue measure, which was previously called "adjusted tax-equivalent revenue." The calculation itself has not changed.
Beginning in 2026, to better align with industry standards, Busey revised its calculation of adjusted noninterest expense, for all periods presented, to exclude any adjustment for amortization of intangible assets.
Beginning in 2026, Busey changed the caption for the efficiency ratio numerator from "adjusted noninterest expense" to "adjusted noninterest expense excluding amortization of intangible assets." The calculation itself has not changed.
Beginning in 2026, Busey now reports a single efficiency ratio, which was previously reported as the "Adjusted efficiency ratio."
Calculation of Tangible Common Equity, and Related Measures and Ratio
As of
September 30,
June 30,
September 30,
(dollars in thousands, except per share amounts) | 2026 | 2026 | 2025 | ||
Total assets (GAAP) | $ 18,558,606 | $ 18,191,867 | $ 18,188,628 | ||
Goodwill and other intangible assets, net | (467,137) | (471,288) | (485,203) | ||
Tangible assets (Non-GAAP)1 | [a] | $ 18,091,469 | $ 17,720,579 | $ 17,703,425 | |
Total stockholders' equity (GAAP) | $ 2,256,279 | $ 2,383,170 | $ 2,448,835 | ||
Preferred stock and additional paid in capital on preferred stock | (215,197) | (215,197) | (215,197) | ||
Common equity | [b] | $ 2,041,082 | $ 2,167,973 | $ 2,233,638 | |
Goodwill and other intangible assets, net | (467,137) | (471,288) | (485,203) | ||
Tangible common equity (Non-GAAP) | [c] | $ 1,573,945 | $ 1,696,685 | $ 1,748,435 | |
Tangible common equity to tangible assets (Non-GAAP) | [c÷a] | 8.70 % | 9.57 % | 9.88 % | |
Ending number of common shares outstanding (GAAP) | [d] | 81,276,654 | 83,189,501 | 88,789,043 | |
Book value per common share (Non-GAAP) | [b÷d] | $ 25.11 | $ 26.06 | $ 25.16 | |
Tangible book value per common share (Non-GAAP) | [c÷d] | $ 19.37 | $ 20.40 | $ 19.69 |
Calculation of Core Deposits and Related Ratio
As of
September 30,
June 30,
September 30,
(dollars in thousands) | 2026 | 2026 | 2025 | |
Total deposits (GAAP) | [a] | $ 15,537,566 | $ 15,128,745 | $ 15,070,162 |
Brokered deposits, excluding brokered time deposits of more than | ||||
$250,000 | (10,000) | (60,043) | (125,432) | |
Time deposits of more than $250,000 | (920,142) | (896,354) | (807,378) | |
Core deposits (Non-GAAP) [b] $ 14,607,424 $ 14,172,348 $ 14,137,352 Core deposits to total deposits (Non-GAAP) [b÷a] 94.01 % 93.68 % 93.81 %
