FIRST BUSEY CORP /NV/
For the period ended Mar 31, 2025. Filed May 9, 2025.
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Mar 31, 2025 · Filed May 9, 2025
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Off-Balance-Sheet Arrangements
Busey Bank routinely enters into commitments to extend credit and standby letters of credit in the normal course of business to meet the financing needs of its customers. The balance of commitments to extend credit represents future cash requirements and some of these commitments may expire without being drawn upon.
The following table summarizes Busey’s outstanding commitments and reserves for unfunded commitments:
| As of | ||
|---|---|---|
| (dollars in thousands) | March 31,2025 | December 31,2024 |
| Outstanding loan commitments and standby letters of credit | $4,476,594 | $2,548,178 |
| Reserve for unfunded commitments | 9,108 | 5,967 |
The following table summarizes Busey’s provision for unfunded commitments expenses (releases):
| Three Months Ended March 31, | |||
|---|---|---|---|
| (dollars in thousands) | Location | 2025 | 2024 |
| Provision for unfunded commitments expense (release)1 | Other noninterest expense | $3,141 | $(678) |
- During the three months ended March 31, 2025, an initial reserve for unfunded commitments of $3.1 million was established in connection with the CrossFirst acquisition.
Busey anticipates that it will have sufficient funds available to meet current loan commitments, including loan applications received and in process prior to the issuance of firm commitments.
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