Table of Contents Title of each class Trading SymbolName of each exchange on which registered Common Stock ($0.001 par value) BUSE The Nasdaq Stock Market LLC UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 0-15950 FIRST BUSEY CORPOR ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q ☑ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly Period Ended September 30, 2020 ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File No. 0-15950 FIRST BUSEY CORPORATION (Exact name of registrant as specified in its charter) Nevada 37-1078406 (State or other jurisdiction of incorporation or organizat ...

INVESTOR PRESENTATION September 2020 busey.com Member FDI 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 condition, results of operations, plans, objectives, future performance and business of the Company. Forward-looking statements, which may be based upon beli ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q ☑ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly Period Ended 6/30/2020 ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File No. 0-15950 FIRST BUSEY CORPORATION (Exact name of registrant as specified in its charter) Nevada 37-1078406 (State or other jurisdiction of incorporation or organization) (I.R ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q ☑ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly Period Ended 3/31/2020 ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File No. 0-15950 | --- | --- | |-------------------------------------------------------------------------------------------------------|--------------------------------------------- ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 0-15950 FIRST BUSEY CORPORATION (Exact name of registrant as specified in its charter) Nevada 37-1078406 (State or other jurisdiction of incorporation of organization) ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q ☑ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly Period Ended 9/30/2019 ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File No. 0-15950 | --- | --- | |-------------------------------------------------------------------------------------------------------|--------------------------------------------- ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q ☑ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly Period Ended 6/30/2019 ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File No. 0-15950 | --- | --- | --- | --- | |-------------------------------------------------------------------------------------------------------|-------|-------|----------------- ...

```markdown Part I FINANCIAL INFORMATION [FINANCIAL STATEMENTS](index=3&type=section&id=Item%201.%20FINANCIAL%20STATEMENTS) This section presents the unaudited consolidated financial statements, detailing the company's financial position, performance, and cash flows, along with significant accounting policies [Consolidated Balance Sheets](index=4&type=section&id=CONSOLIDATED%20BALANCE%20SHEETS) Total assets increased to **$9.54 billion** at March 31, 2019, primarily due to the Banc Ed Corp. acquisition, with corresponding increases in liabilities and stockholders' equity Consolidated Balance Sheet Highlights (in thousands) | Account | March 31, 2019 | December 31, 2018 | | :--- | :--- | :--- | | **Total Assets** | **$9,537,334** | **$7,702,357** | | Total cash and cash equivalents | $330,407 | $239,973 | | Portfolio loans, net | $6,464,166 | $5,517,780 | | Goodwill | $314,343 | $267,685 | | **Total Liabilities** | **$8,351,193** | **$6,707,393** | | Total deposits | $7,763,226 | $6,249,321 | | **Total Stockholders' Equity** | **$1,186,141** | **$994,964** | [Consolidated Statements of Income](index=5&type=section&id=CONSOLIDATED%20STATEMENTS%20OF%20INCOME) For Q1 2019, net income rose to **$25.5 million** from **$21.9 million** in Q1 2018, driven by a **14.4%** increase in net interest income to **$68.4 million**, resulting in diluted EPS of **$0.48** Q1 2019 vs Q1 2018 Income Statement (in thousands, except per share data) | Metric | Q1 2019 | Q1 2018 | | :--- | :--- | :--- | | Net Interest Income | $68,383 | $59,757 | | Provision for loan losses | $2,111 | $1,008 | | Total Non-interest Income | $25,945 | $22,486 | | Total Non-interest Expense | $57,163 | $51,040 | | **Net Income** | **$25,469** | **$21,917** | | Diluted EPS | $0.48 | $0.45 | | Dividends declared per share | $0.21 | $0.20 | [Consolidated Statements of Comprehensive Income](index=6&type=section&id=CONSOLIDATED%20STATEMENTS%20OF%20COMPREHENSIVE%20INCOME) Comprehensive income for Q1 2019 significantly increased to **$33.9 million** from **$15.7 million** in Q1 2018, primarily due to a positive swing in other comprehensive income driven by unrealized gains on securities Comprehensive Income (in thousands) | Item | Q1 2019 | Q1 2018 | | :--- | :--- | :--- | | Net Income | $25,469 | $21,917 | | Other comprehensive income (loss), net of tax | $8,407 | $(6,259) | | **Comprehensive Income** | **$33,876** | **$15,658** | [Consolidated Statements of Stockholders' Equity](index=7&type=section&id=CONSOLIDATED%20STATEMENTS%20OF%20STOCKHOLDERS%27%20EQUITY) Total stockholders' equity increased to **$1.186 billion** at March 31, 2019, primarily driven by **$166.3 million** in stock issued for the Banc Ed acquisition and **$25.5 million** in net income - Stockholders' equity increased mainly due to stock issued for the Banc Ed acquisition (**$166.3 million**) and net income (**$25.5 million**)[13](index=13&type=chunk) [Consolidated Statements of Cash Flows](index=8&type=section&id=CONSOLIDATED%20STATEMENTS%20OF%20CASH%20FLOWS) Cash and cash equivalents increased by **$90.4 million** in Q1 2019, with **$36.3 million** from operating activities, **$48.4 million** used in investing activities (including **$49.4 million** for acquisitions), and **$102.6 million** provided by financing activities Cash Flow Summary (in thousands) | Cash Flow Activity | Q1 2019 | Q1 2018 | | :--- | :--- | :--- | | Net cash provided by operating activities | $36,269 | $93,663 | | Net cash (used in) provided by investing activities | $(48,398) | $14,197 | | Net cash provided by (used in) financing activities | $102,563 | $(93,607) | | **Net increase in cash and cash equivalents** | **$90,434** | **$14,253** | - The company paid a net amount of **$49.4 million** in cash for acquisitions during Q1 2019[14](index=14&type=chunk) [Notes to Unaudited Consolidated Financial Statements](index=10&type=section&id=NOTES%20TO%20UNAUDITED%20CONSOLIDATED%20FINANCIAL%20STATEMENTS) The notes detail accounting policies, business combinations including the **$257.9 million** Banc Ed Corp. acquisition, adoption of new lease standards, and a **$573.6 million** securities transfer, confirming the company remains 'well capitalized' - On January 31, 2019, the Company acquired The Banc Ed Corp. for total consideration of **$257.9 million** (**$91.4 million** cash and **$166.5 million** stock), resulting in **$46.7 million** of goodwill[36](index=36&type=chunk)[38](index=38&type=chunk) - The company adopted new lease accounting standard ASU 2016-02, recording an **$11.6 million** right-of-use asset and a corresponding lease liability on January 1, 2019[26](index=26&type=chunk)[29](index=29&type=chunk) - In Q1 2019, the company transferred **$573.6 million** of securities from held-to-maturity to available-for-sale, resulting in a **$4.8 million** unrealized loss recorded in other comprehensive income[33](index=33&type=chunk)[43](index=43&type=chunk) - The company's three reportable operating segments are Banking, Remittance Processing, and Wealth Management[107](index=107&type=chunk) - All capital ratios for the Company and its subsidiary banks exceeded the 'well capitalized' levels required by federal banking agencies as of March 31, 2019[102](index=102&type=chunk)[105](index=105&type=chunk) [MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS](index=38&type=section&id=Item%202.%20MANAGEMENT%27S%20DISCUSSION%20AND%20ANALYSIS%20OF%20FINANCIAL%20CONDITION%20AND%20RESULTS%20OF%20OPERATIONS) Management discusses Q1 2019 financial performance, highlighting **$25.5 million** net income and the impact of the Banc Ed Corp. acquisition on balance sheet growth, net interest margin, non-interest income, operating expenses, and strong asset quality [Executive Summary](index=38&type=section&id=EXECUTIVE%20SUMMARY) The company reported Q1 2019 net income of **$25.5 million** (**$0.48** diluted EPS), with adjusted net income of **$26.6 million** (**$0.50** diluted EPS), following the Banc Ed Corp. acquisition and diversified fee-based revenues Q1 2019 Key Performance Metrics | Metric | Reported | Adjusted (Non-GAAP) | | :--- | :--- | :--- | | Net Income | $25.5 million | $26.6 million | | Diluted EPS | $0.48 | $0.50 | - The acquisition of The Banc Ed Corp. was completed on January 31, 2019[154](index=154&type=chunk) [Financial Condition](index=44&type=section&id=FINANCIAL%20CONDITION) Total assets grew **23.8%** to **$9.5 billion** at March 31, 2019, driven by the Banc Ed acquisition, which also increased portfolio loans by **17.2%** to **$6.5 billion** and total deposits by **24.2%** to **$7.8 billion** Balance Sheet Changes (Q1 2019 vs YE 2018) | Account | % Change | | :--- | :--- | | Total Assets | +23.8% | | Portfolio loans, net | +17.2% | | Total deposits | +24.2% | | Securities available for sale | +175.0% | | Securities held to maturity | -97.4% | - The company's lending is focused in Illinois (**$4.3B**) and Missouri (**$1.6B**), with smaller portfolios in Florida and Indiana[198](index=198&type=chunk) [Results of Operations](index=39&type=section&id=RESULTS%20OF%20OPERATIONS) Net interest income rose **14.5%** to **$69.1 million**, with a stable adjusted net interest margin of **3.31%**, while non-interest income grew **15.4%** to **$25.9 million**, and the efficiency ratio improved to **58.0%** Net Interest Margin | Period | Reported NIM | Adjusted NIM (Non-GAAP) | | :--- | :--- | :--- | | Q1 2019 | 3.46% | 3.31% | | Q1 2018 | 3.51% | 3.31% | Non-Interest Income Breakdown (Q1 2019 vs Q1 2018) | Category | Q1 2019 ($M) | % Change YoY | | :--- | :--- | :--- | | Trust fees | $8.1 | +8.0% | | Remittance processing | $3.8 | +11.4% | | Fees for customer services | $8.1 | +16.6% | | Mortgage revenue | $1.9 | +18.4% | | **Total Non-Interest Income** | **$25.9** | **+15.4%** | - The efficiency ratio improved to **58.0%** in Q1 2019 from **59.8%** in Q1 2018. The adjusted efficiency ratio was **56.4%** in Q1 2019[187](index=187&type=chunk)[188](index=188&type=chunk) [Asset Quality](index=39&type=section&id=Asset%20Quality) Asset quality remained strong with non-performing loans at **0.56%** of total portfolio loans, and the allowance for loan losses at **0.78%**, reflecting the accounting for acquired loans and a **$2.1 million** provision Asset Quality Metrics | Metric | March 31, 2019 | Dec 31, 2018 | | :--- | :--- | :--- | | Non-performing loans to portfolio loans | 0.56% | 0.66% | | Allowance for loan losses to portfolio loans | 0.78% | 0.91% | | Allowance as a % of non-performing loans | 139.2% | 138.4% | - The provision for loan losses was **$2.1 million** in Q1 2019, compared to **$1.0 million** in Q1 2018[201](index=201&type=chunk)[203](index=203&type=chunk) [Liquidity and Capital Resources](index=47&type=section&id=LIQUIDITY%20AND%20CAPITAL%20RESOURCES) The company maintains adequate liquidity and strong capital resources, with all regulatory capital ratios, including a **13.95%** Total Capital Ratio and **10.55%** Tier 1 Leverage Ratio, significantly exceeding 'well-capitalized' thresholds - The company's capital ratios are in excess of those required to be considered 'well-capitalized' under regulatory guidelines[215](index=215&type=chunk) Consolidated Capital Ratios (March 31, 2019) | Ratio | Actual | Minimum to be Well-Capitalized | | :--- | :--- | :--- | | Total Capital (to Risk Weighted Assets) | 13.95% | 10.00% | | Tier 1 Capital (to Risk Weighted Assets) | 12.42% | 8.00% | | Common Equity Tier 1 Capital | 11.40% | 6.50% | | Tier 1 Capital (to Average Assets) | 10.55% | 5.00% (for bank) | [QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK](index=53&type=section&id=Item%203.%20QUANTITATIVE%20AND%20QUALITATIVE%20DISCLOSURES%20ABOUT%20MARKET%20RISK) The company's primary market risk is interest rate risk, with a **+100 basis point** rate shock projected to increase net interest income by **0.88%** and a **-100 basis point** shock to decrease it by **3.26%** over one year Net Interest Income Sensitivity (Year-One Horizon at March 31, 2019) | Rate Shock | % Change in NII | | :--- | :--- | | +300 bps | +3.01% | | +200 bps | +2.09% | | +100 bps | +0.88% | | -100 bps | (3.26)% | | -200 bps | (9.79)% | - The company's primary market risk is interest rate risk, managed by an asset-liability committee that meets at least quarterly[240](index=240&type=chunk)[241](index=241&type=chunk) [CONTROLS AND PROCEDURES](index=54&type=section&id=Item%204.%20CONTROLS%20AND%20PROCEDURES) The CEO and CFO concluded that disclosure controls and procedures were effective as of March 31, 2019, with no material changes to internal control over financial reporting during the quarter - The CEO and CFO concluded that as of March 31, 2019, disclosure controls and procedures were effective[246](index=246&type=chunk) - No material changes were made to internal control over financial reporting during the first quarter of 2019[247](index=247&type=chunk) Part II OTHER INFORMATION [LEGAL PROCEEDINGS](index=55&type=section&id=Item%201.%20LEGAL%20PROCEEDINGS) The company is party to routine litigation incidental to its business, with no material pending litigation expected to significantly affect its financial position or results - There is no material pending litigation, other than ordinary routine litigation incidental to its business[251](index=251&type=chunk) [RISK FACTORS](index=55&type=section&id=Item%201A.%20RISK%20FACTORS) No material changes to the risk factors previously disclosed in the Annual Report on Form 10-K were reported - No material changes to risk factors were reported for the period[253](index=253&type=chunk) [UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS](index=55&type=section&id=Item%202.%20UNREGISTERED%20SALES%20OF%20EQUITY%20SECURITIES%20AND%20USE%20OF%20PROCEEDS) The company did not repurchase common stock during Q1 2019, with **333,334** shares remaining available under the existing repurchase plan - No shares of common stock were repurchased during the quarter ended March 31, 2019[254](index=254&type=chunk) - As of March 31, 2019, **333,334** shares may still be purchased under the existing stock repurchase plan[254](index=254&type=chunk) [EXHIBITS](index=56&type=section&id=Item%206.%20EXHIBITS) This section lists the exhibits filed with the Form 10-Q, including credit agreements, employment addendums, and required Sarbanes-Oxley certifications - Exhibits filed include an Amended and Restated Credit Agreement, employment agreement addendums for executives, and Sarbanes-Oxley certifications[257](index=257&type=chunk) ```

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 0-15950 FIRST BUSEY CORPORATION (Exact name of registrant as specified in its charter) Nevada 37-1078406 (State or other jurisdiction of incorporation of organization) ...