FIRST BUSEY CORP NV
For the period ended Dec 31, 2024. Filed Feb 27, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 27, 2025
BUSE$28.63-0.1%Stored close · as of Nov 6, 2026
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GLOSSARY
Busey uses acronyms, abbreviations, and other terms throughout this Annual Report, as defined in the glossary below:
| Term | Definition |
|---|---|
| 2020 Equity Plan | First Busey Corporation Amended 2020 Equity Incentive Plan |
| 401(k) Plan | First Busey Corporation Profit Sharing Plan and Trust |
| ACL | Allowance for credit losses |
| AOCI | Accumulated other comprehensive income (loss) |
| ASC | Accounting Standards Codification |
| ASU | Accounting Standards Update |
| Basel III | 2010 capital accord adopted by the international Basel Committee on Banking Supervision |
| Basel III Rule | Regulations promulgated by U.S. federal banking agencies—the OCC, the Federal Reserve, and the FDIC—to both enforce implementation of certain aspects of the Basel III capital reforms and effect certain changes required by the Dodd-Frank Wall Street Reform and Consumer Protection Act |
| BHCA | Bank Holding Company Act of 1956, as amended |
| bps | basis points |
| Busey | First Busey Corporation, together with its wholly-owned consolidated subsidiaries; also, “First Busey,” and the “Company” |
| C&I | Commercial and industrial |
| CECL | ASC Topic 326 “Financial Instruments-Credit Losses,” which established the Current Expected Credit Losses methodology for measuring credit losses on financial instruments |
| CFPB | Consumer Financial Protection Bureau |
| COSO | Committee of Sponsoring Organizations of the Treadway Commission |
| CRA | Community Reinvestment Act |
| CRE | Commercial real estate |
| CRE Guidance | Concentrations in Commercial Real Estate Lending, Sound Risk Management Practices guidance issued jointly by the OCC, the Federal Reserve, and the FDIC |
| CrossFirst | CrossFirst Bankshares, Inc. |
| Current Report | Current report filed with the SEC on Form 8-K pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 |
| DFPR | Illinois Department of Financial and Professional Regulation |
| Dodd-Frank Act | Dodd-Frank Wall Street Reform and Consumer Protection Act, enacted in 2010 |
| DSU | Deferred stock unit |
| Durbin Amendment | The Durbin Amendment to the Dodd-Frank Act, requiring the Federal Reserve to establish a maximum permissible interchange fee for many types of debit transactions |
| ESPP | First Busey Corporation Employee Stock Purchase Plan |
| Exchange Act | Securities Exchange Act of 1934, as amended |
| Fair value | The price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date, as defined in ASC Topic 820 “Fair Value Measurement” |
| FASB | Financial Accounting Standards Board |
First Busey Corporation(BUSE) | 2024 —4
| Term | Definition |
|---|---|
| FDIC | Federal Deposit Insurance Corporation |
| Federal Reserve | Board of Governors of the Federal Reserve System |
| FHLB | Federal Home Loan Bank |
| First Busey Risk Management | First Busey Risk Management, Inc. |
| First Community | First Community Financial Partners, Inc. |
| FirsTech | FirsTech, Inc. |
| FOMC | Federal Open Market Committee |
| GAAP | U.S. Generally Accepted Accounting Principles |
| LIBOR | London Interbank Offered Rate |
| LOCOM | Lower of Cost or Market, an accounting approach under which assets are carried at amortized historical cost less write-offs and downward fair value adjustments, as may be applicable |
| M&M | Merchants and Manufacturers Bank Corporation |
| M&M Bank | Merchants and Manufacturers Bank |
| Nasdaq | National Association of Securities Dealers Automated Quotations |
| NM | Not meaningful |
| OCC | Office of the Comptroller of the Currency |
| OCI | Other comprehensive income (loss) |
| OREO | Other real estate owned |
| PCAOB | Public Company Accounting Oversight Board |
| PCD | Purchased credit deteriorated |
| PCI | Purchased credit impaired |
| PSU | Performance stock unit |
| Quarterly Report | Quarterly report filed with the SEC on Form 10-Q pursuant to Section 13 or 15(d) of the Exchange Act |
| Regulatory Relief Act | Economic Growth, Regulatory Relief, and Consumer Protection Act of 2018 |
| RSU | Restricted stock unit |
| SBA | U.S. Small Business Administration |
| SEC | U.S. Securities and Exchange Commission |
| Securities Act | Securities Act of 1933, as amended |
| SOFR | Secured Overnight Financing Rate published by the Federal Reserve |
| Stock Repurchase Plan | Stock repurchase program approved by First Busey Corporation's board of directors on February 3, 2015 |
| Term Loan | $60 million term loan provided for in the Second Amended and Restated Credit Agreement, dated May 28, 2021. This term loan was paid off in the first quarter of 2024. |
| U.S. | United States of America |
| U.S. Treasury | U.S. Department of the Treasury |
First Busey Corporation(BUSE) | 2024 —5
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.