First Busey Q3 credit provision rises to $9.6M

Q: What were BUSE’s third-quarter 2026 earnings?

First Busey reported $55.8 million of net income and diluted earnings of $0.61 per share for the quarter ended September 30, 2026. Adjusted net income was $57.2 million and adjusted diluted EPS was $0.63.

Q: How many BUSE shares were repurchased in Q3 2026?

During the third quarter, Busey repurchased 1,972,900 common shares at a weighted average price of $30.21 per share, for $59.6 million excluding excise taxes.

Q: How many shares remained available under BUSE’s repurchase plan?

As of September 30, 2026, 1,925,875 shares remained available for repurchase under Busey’s stock repurchase plan.

A $37.6 million commercial relationship moved to non-accrual as deposits grew and wealth management fees rose year over year.

Filing Impact

(High)

Filing Sentiment

(Neutral)How Sentiment works

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

How Sentiment works How the balance works

Form Type

8-K

Rhea-AI Filing Summary

First Busey Corporation (BUSE) reported third-quarter 2026 net income of $55.8 million, or $0.61 per diluted share, compared with $57.1 million and $0.58 a year earlier. Adjusted net income, a non-GAAP measure, was $57.2 million, or $0.63 per diluted share. Net interest margin was 3.58%, compared with 3.72% in the prior quarter.

Provision for credit losses rose to $9.6 million from $2.2 million in Q2, primarily tied to one $37.6 million commercial relationship moved to non-accrual. Busey recorded a $10.0 million partial charge-off and an individual reserve of $17.8 million against the relationship’s remaining $27.6 million balance. Deposits increased $408.8 million, or 2.7%, during the quarter, while wealth management fees rose 15.5% year over year. Busey repurchased 1,972,900 common shares for $59.6 million at a weighted average price of $30.21 per share.

2 points · 0 major

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Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance works How Sentiment works

0 major · 1 point

How the balance works

Positive

Moderate pointDiluted EPS was $0.61, versus $0.58 a year earlier.
Moderate pointWealth management fees increased 15.5% year over year.

Negative

Moderate pointCredit provision reached $9.6 million, versus $2.2 million in Q2.

Filing Explained

A $10 million charge-off was recorded, with a $17.8 million reserve against the remaining $27.6 million credit balance.

Busey’s investor presentation says the roughly $65 million lender-finance loan pool, reclassified as held for sale in the third quarter, was sold on October 1, 2026; that disposal is complete.

For a $37.6 million commercial relationship moved to non-accrual, Busey reports a $10 million partial charge-off and a $17.8 million reserve against the remaining $27.6 million balance.

At September 30, 2026, Busey had 1,925,875 shares remaining available for repurchase under its plan.

8-K Event Classification

3 items: 2.02, 7.01, 9.01

3 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Net income: $55.8 million Diluted EPS: $0.61 per diluted common share Adjusted net income: $57.2 million +5 more

8 metrics

Net income $55.8 million Three months ended September 30, 2026

Diluted EPS $0.61 per diluted common share Three months ended September 30, 2026; $0.58 in the year-earlier quarter

Adjusted net income $57.2 million Non-GAAP; three months ended September 30, 2026

Adjusted diluted EPS $0.63 per diluted common share Non-GAAP; three months ended September 30, 2026

Net interest margin 3.58% Third quarter of 2026

Provision for credit losses $9.6 million Third quarter of 2026; $2.2 million in Q2 2026

Deposit balance increase $408.8 million Third quarter of 2026

Common shares repurchased 1,972,900 shares Third quarter of 2026; $59.6 million total at a weighted average price of $30.21 per share

Key Terms

non-accrual, partial charge-off, lower-of-cost-or-market, purchase accounting accretion

4 terms

non-accrual financial

"moved to non-accrual status"

A non-accrual loan or asset is one for which a lender has stopped counting expected interest as income because the borrower is very late on payments or in serious financial trouble. For investors, non-accruals signal that future cash from interest is uncertain and that the lender may need to write down the loan’s value or set aside extra reserves, similar to a landlord who stops recording rent when a tenant stops paying.

partial charge-off financial

"partial charge-off of $10.0 million"

lower-of-cost-or-market financial

"lower-of-cost-or-market (“LOCOM”) adjustment"

An accounting rule that requires inventory to be shown on the balance sheet at the lesser of its original purchase cost or its current market value. Like a shop lowering the listed price when goods lose value, it forces companies to record losses when replacement or selling prices fall below what was paid. Investors care because this conservative practice can reduce reported assets and profits, revealing potential future earnings pressure or inventory risk.

purchase accounting accretion financial

"Purchase Accounting Accretion contribution to NII"

Purchase accounting accretion describes how an acquisition’s required accounting adjustments change a company’s reported earnings per share after the deal. When the purchase price is reallocated to the acquired assets and liabilities, certain items (like tax effects, depreciation or amortization) are recorded differently, and those changes can make reported earnings per share rise over time — showing whether the transaction boosts or dilutes per-share results. Investors use it like checking whether two merged household budgets will increase the amount left over each month after relabeling expenses.

Earnings Snapshot

Net income: $55.8 million · Guidance included

Third quarter ended September 30, 2026

Net income $55.8 million Compared with $57.1 million in Q3 2025

Diluted EPS $0.61 per diluted common share Compared with $0.58 in Q3 2025

Adjusted net income $57.2 million (non-GAAP) Compared with $62.5 million in Q3 2025

Adjusted diluted EPS $0.63 (non-GAAP) Compared with $0.64 in Q3 2025

Net interest margin 3.58% Compared with 3.72% in Q2 2026

Provision for credit losses $9.6 million Compared with $2.2 million in Q2 2026

Guidance

Busey expects adjusted noninterest expense of $113 million to $114 million in Q4 2026.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were BUSE’s third-quarter 2026 earnings?

First Busey reported $55.8 million of net income and diluted earnings of $0.61 per share for the quarter ended September 30, 2026. Adjusted net income was $57.2 million and adjusted diluted EPS was $0.63.

How many BUSE shares were repurchased in Q3 2026?

During the third quarter, Busey repurchased 1,972,900 common shares at a weighted average price of $30.21 per share, for $59.6 million excluding excise taxes.

What is BUSE’s adjusted expense outlook for Q4 2026?

Busey expects adjusted noninterest expense of $113 million to $114 million in the fourth quarter of 2026.

How many shares remained available under BUSE’s repurchase plan?

As of September 30, 2026, 1,925,875 shares remained available for repurchase under Busey’s stock repurchase plan.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/27/2026 - 05:02 PM EDT Accepted by SEC EDGAR 10/27/2026 - 05:01 PM EDT

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): October 27, 2026

__________________________________________

First Busey Corporation

(Exact name of Registrant as specified in its charter)

__________________________________________


Nevada	001-42677	37-1078406
(State of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

	11440 Tomahawk Creek Parkway Leawood, Kansas 66211
(Address of Principal Executive Offices)

	(913) 312-6800
(Registrant’s telephone number, including area code)
N/A
(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:


☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, $0.001 par value

BUSE

Nasdaq Stock Market LLC

Depositary Shares, each representing a 1/40th interest in a share of 8.25% Fixed-Rate Series B Non-Cumulative Perpetual Preferred Stock, $0.001 par value

BUSEP

Nasdaq Stock Market LLC

Indicate by check mark whether the Registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). ☐

If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On October 27, 2026, First Busey Corporation (“Busey”) issued a press release (“Earnings Release”) disclosing financial results for the quarter ended September 30, 2026. A copy of the Earnings Release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

The information in Item 2.02 of this Current Report on Form 8-K and Exhibit 99.1 attached hereto is being “furnished” and will not, except to the extent required by applicable law or regulation, be deemed “filed” by Busey for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (“Exchange Act”), or otherwise subject to the liabilities of that section, nor will any of such information or exhibits be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended (“Securities Act”), or the Exchange Act.

Item 7.01 Regulation FD Disclosure.

On October 27, 2026, Busey published its Earnings Investor Presentation discussing financial results for the quarter ended September 30, 2026. A copy is attached hereto as Exhibit 99.2 and is incorporated herein by reference.

The information in Item 7.01 of this Current Report on Form 8-K and Exhibit 99.2 attached hereto is being “furnished” and will not, except to the extent required by applicable law or regulation, be deemed “filed” by Busey for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, nor will any of such information or exhibits be deemed incorporated by reference into any filing under the Securities Act or the Exchange Act.

Item 9.01. Financial Statements and Exhibits.


Exhibit Number						Description of Exhibit
99.1						Earnings Release issued by First Busey Corporation, dated October 27, 2026
99.2						Earnings Investor Presentation issued by First Busey Corporation, dated October 27, 2026
104						Cover Page Interactive Data File (embedded within the Inline XBRL document and included in Exhibit 101)

Signature

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

FIRST BUSEY CORPORATION

Date:

October 27, 2026

By:

/s/ CHRISTOPHER H.M. CHAN

Christopher H.M. Chan

Executive Vice President, Chief Financial Officer

F I R S T B U S E Y C O R P O R A T I O N

A N N O U N C E S

2 0 2 6
T H I R D
Q U A R T E R

E A R N I N G S

Q 3 | 2 0 2 6


			www.busey.com
			INVESTOR CONTACT: Tate McKay, Director of Investor Relations and Corporate Development \| 217-351-6709

LEAWOOD, KS, October 27, 2026 (GLOBE NEWSWIRE) – First Busey Corporation (Nasdaq: BUSE) Announces 2026 Third Quarter Earnings.

Net Income

Diluted EPS

Net Interest Margin1

ROAA1

ROATCE1

$55.8 million

$57.2 million (adj)2

$0.61

$0.63 (adj)2

3.58%2

3.46% (adj)2

1.20%2

1.23% (adj)2

12.93%2

13.25% (adj)2


MESSAGE FROM OUR CHAIRMAN, PRESIDENT & CEO
Busey reported adjusted diluted EPS2 of $0.63. Results were impacted by a single commercial relationship in the Central region that incurred a partial charge-off and moved to non-accrual this quarter. Quarterly provision expense increased to $9.6 million, compared to $2.2 million in the prior quarter, primarily as a result of this credit. Excluding this relationship, underlying trends for the quarter remained solid. Operating revenue2 was stable at $194.3 million, supported by growth in net interest income. Wealth management revenue increased 15.5% from the prior year. We also maintained strong expense discipline, producing an efficiency ratio2 of 54.4%. Deposit growth remained a highlight, increasing at an annualized rate of 11% for the second consecutive quarter as we continued to add relationships and deepen client primacy across our markets. As anticipated, loan balances declined during the quarter, including the repositioning of approximately $65 million of lender finance loans to held for sale as part of our ongoing portfolio management efforts. The loan-to-deposit ratio improved to 82.5% from 87.2% last quarter. Capital remained strong with Common Equity Tier 1 Capital to Risk Weighted Assets3 rising to 12.5% (compared to 12.3% a year ago), even after $188.4 million in year-to-date share repurchases, including $59.6 million this quarter. As we enter the final quarter of 2026, we remain well positioned with an indomitable balance sheet, ample liquidity, and significant capital flexibility. While macroeconomic uncertainty persists, we are confident in our ability to navigate a range of operating environments while continuing to support our clients and create long-term value for our shareholders. Van A. Dukeman Chairman, President and CEO of First Busey Corporation

FINANCIAL RESULTS


CONDENSED CONSOLIDATED STATEMENTS OF INCOME (unaudited)

	Three Months Ended									Nine Months Ended
(dollars in thousands, except per share amounts)	September 30, 2026			June 30, 2026			September 30, 2025			September 30, 2026			September 30, 2025
Total interest income	$	232,571		$	224,425		$	244,505		$	682,481		$	658,766
Total interest expense	79,426			72,023			89,368			222,965			246,715
Net interest income	153,145			152,402			155,137			459,516			412,051
Provision for credit losses	9,642			2,189			(985)			14,889			50,308
Net interest income after provision for credit losses	143,503			150,213			156,122			444,627			361,743
Total noninterest income	40,402			44,311			41,198			126,978			107,284
Total noninterest expense	111,398			112,635			120,018			353,552			359,881
Income before income taxes	72,507			81,889			77,302			218,053			109,146
Income taxes	16,662			18,713			20,204			49,051			34,634
Net income	55,845			63,176			57,098			169,002			74,512
Dividends on preferred stock	4,589			4,590			5,131			13,768			5,286
Net income available to common stockholders	$	51,256		$	58,586		$	51,967		$	155,234		$	69,226

Basic earnings per common share	$	0.62		$	0.69		$	0.58		$	1.84		$	0.84
Diluted earnings per common share	$	0.61		$	0.69		$	0.58		$	1.81		$	0.83
Effective income tax rate	22.98		%	22.85		%	26.14		%	22.49		%	31.73		%

First Busey Corporation (BUSE) | 2026 Q3 — 1

Third quarter 2026 net income for First Busey Corporation, together with its consolidated subsidiaries (“Busey,” “we,” “us,” or “our”) was $55.8 million, or $0.61 per diluted common share, compared to net income of $63.2 million, or $0.69 per diluted common share, for the second quarter of 2026, and $57.1 million, or $0.58 per diluted common share, for the third quarter of 2025. Annualized return on average assets2 and annualized return on average tangible common equity2 were 1.20% and 12.93%, respectively, for the third quarter of 2026.

Pre-provision net revenue2 was $82.9 million for the third quarter of 2026, compared to $81.6 million for the second quarter of 2026 and $76.6 million for the third quarter of 2025. Pre-provision net revenue to average assets2 was 1.78% for the third quarter of 2026, compared to 1.83% for the second quarter of 2026, and 1.63% for the third quarter of 2025.

Adjusted Financial Results

Busey views certain non-operating items, including acquisition-related expenses, restructuring charges, and nonrecurring strategic events, as adjustments to net income reported under U.S. generally accepted accounting principles ("GAAP"). We also adjust for net securities gains and losses to align with industry and research analyst reporting. The objective of our presentation of adjusted earnings and adjusted earnings metrics is to allow investors and analysts to more clearly identify quarterly trends in core earnings performance. Pre-tax non-GAAP adjustments to net income were as follows:


	Three Months Ended						Nine Months Ended
(dollars in thousands)	September 30, 2026		June 30, 2026		September 30, 2025		September 30, 2026		September 30, 2025
PRE-TAX NON-GAAP ADJUSTMENTS TO NET INCOME

Net securities (gains) losses	$	703	$	(2,445)	$	288	$	(802)	$	10,059
Other noninterest income	—		—		44		—		44
Provision for credit losses	—		—		—		—		49,602
Salaries and employee benefits	724		2,045		5,610		18,893		33,045
Data processing	—		—		424		80		6,690
Net occupancy expense of premises	—		—		9		—		9
Furniture and equipment expenses	—		—		66		—		67
Professional fees	—		704		358		823		7,969
Other noninterest expense	377		377		740		1,131		2,053
Total pre-tax non-GAAP adjustments to net income	$	1,804	$	681	$	7,539	$	20,125	$	109,538

Adjusted net income,2 which excludes the impact of non-GAAP adjustments, was $57.2 million, or $0.63 per diluted common share, for the third quarter of 2026, compared to $63.7 million, or $0.69 per diluted common share, for the second quarter of 2026 and $62.5 million, or $0.64 per diluted common share, for the third quarter of 2025. Annualized adjusted return on average assets2 and annualized adjusted return on average tangible common equity2 were 1.23% and 13.25%, respectively, for the third quarter of 2026.

Adjusted pre-provision net revenue2 was $84.0 million for the third quarter of 2026, compared to $84.8 million for the second quarter of 2026 and $83.9 million for the third quarter of 2025. Adjusted pre-provision net revenue to average assets2 was 1.80% for the third quarter of 2026, compared to 1.90% for the second quarter of 2026 and 1.78% for the third quarter of 2025.

For more information and a reconciliation of non-GAAP measures—which are identified with the End Note labeled as 2—in tabular form, see "Non-GAAP Financial Information."

First Busey Corporation (BUSE) | 2026 Q3 — 2

Net Interest Income

Net interest income increased by $0.7 million in the third quarter of 2026, compared to the second quarter of 2026, driven by growth in average earning assets. Deposit funding costs were 13 basis points higher during the quarter largely due to continued success in deposit gathering initiatives as well as repricing impacts from the late quarter Federal Open Market Committee rate hike. Based on our most recent Asset Liability Management Committee model, a +100 basis point parallel rate shock is expected to increase net interest income by 1.5% (relative to a current base rate scenario) over the subsequent twelve-month period. Busey continues to evaluate and execute off-balance sheet hedging and balance sheet strategies as well as embedding rate protection in our asset originations to provide consistent and predictable net interest income performance across different interest rate environments. Deposit balances increased by $408.8 million, or 2.7%, primarily as a result of seasonal public funds inflows and strategic efforts to grow core customer deposits. At September 30, 2026, Busey Bank had $10.0 million of brokered funding, comprising 0.1% of total deposits, reflecting a $50.0 million reduction of brokered funding during the third quarter. Total deposit cost of funds increased from 1.80% during the second quarter of 2026 to 1.93% during the third quarter of 2026, with spot rates on total deposit costs increasing from 1.87% at June 30, 2026, to 1.97% at September 30, 2026. Busey continues to operate in a net excess cash position and at September 30, 2026, had cash and due from banks balances of $907.5 million. Busey’s average total cost of funds was 1.99% for the third quarter of 2026.

First Busey Corporation (BUSE) | 2026 Q3 — 3

Net Interest Margin2

Busey’s average balances, annualized yield rates, and net interest margins are presented in the table below:


	Three Months Ended
	September 30, 2026						June 30, 2026
(dollars in thousands)	Average Balance		Income/ Expense		Yield/ Rate(vi)		Average Balance		Income/ Expense		Yield/ Rate(vi)
ASSETS
Interest-bearing bank deposits and federal funds sold	$	688,669	$	6,387	3.68	%	$	123,868	$	1,057	3.42	%
Investment securities(i)(ii)	3,234,024		28,664		3.52	%	2,964,414		24,483		3.31	%
Restricted bank stock	77,935		1,237		6.30	%	85,153		1,127		5.31	%
Loans held for sale	20,037		398		7.88	%	8,358		122		5.85	%
Portfolio loans(i)(iii)	13,035,599		196,736		5.99	%	13,326,579		198,477		5.97	%
Total interest-earning assets(i)	17,056,264		$	233,422	5.43	%	16,508,372		$	225,266	5.47	%
Noninterest-earning assets	1,414,675						1,378,725
Total assets	$	18,470,939					$	17,887,097

LIABILITIES AND STOCKHOLDERS’ EQUITY
Interest-bearing transaction deposits	$	3,426,877	$	15,343	1.78	%	$	3,203,014	$	13,463	1.69	%
Savings and money market deposits	6,127,538		38,445		2.49	%	5,615,951		32,220		2.30	%
Time deposits	2,408,540		21,135		3.48	%	2,342,629		20,078		3.44	%
Federal funds purchased and repurchase agreements	150,791		928		2.44	%	169,008		1,098		2.61	%
Borrowings(iv)	292,005		3,575		4.86	%	450,454		5,164		4.60	%
Total interest-bearing liabilities	12,405,751		$	79,426	2.54	%	11,781,056		$	72,023	2.45	%
Noninterest-bearing deposits	3,439,388						3,467,436
Other liabilities	272,038						240,118
Stockholders’ equity	2,353,762						2,398,487
Total liabilities and stockholders’ equity	$	18,470,939					$	17,887,097

Net interest margin(i)(v)			$	153,996	3.58	%			$	153,243	3.72	%

___________________________________________

(i)On a tax-equivalent basis and assuming a federal income tax rate of 21.0%.

(ii)Investment securities include debt securities available for sale, debt securities held to maturity, and equity securities.

(iii)Non-accrual loans have been included in average portfolio loans.

(iv)Includes, as applicable, short-term borrowings, long-term borrowings, subordinated notes, and junior subordinated debt owed to unconsolidated trusts.

(v)For a reconciliation of non-GAAP measures, see “Non-GAAP Financial Information.”

(vi)Annualized.

First Busey Corporation (BUSE) | 2026 Q3 — 4

Noninterest Income


	Three Months Ended						Nine Months Ended
(dollars in thousands)	September 30, 2026		June 30, 2026		September 30, 2025		September 30, 2026		September 30, 2025

NONINTEREST INCOME
Wealth management fees	$	19,846	$	19,981	$	17,184	$	59,197	$	51,325
Payment technology solutions	5,108		4,968		5,092		15,153		15,121
Treasury management services	4,824		4,789		4,228		14,069		11,634
Capital markets income	1,472		1,871		1,936		5,714		4,515
Card services and ATM fees	4,733		4,813		4,799		14,192		13,388
Other service charges on deposit accounts	1,361		1,407		1,617		4,274		4,663

Income on bank owned life insurance	1,659		1,637		1,623		4,912		4,814

Net securities gains (losses)	(703)		2,445		(288)		802		(10,059)
Other noninterest income	2,102		2,400		5,007		8,665		11,883
Total noninterest income	$	40,402	$	44,311	$	41,198	$	126,978	$	107,284

Compared to the Second Quarter of 2026

Total noninterest income decreased by 8.8% compared to the second quarter of 2026, primarily due to a $3.1 million unfavorable swing in net securities gains (losses). Net securities gains and losses were largely unrealized.

Wealth management fees were impacted by a $0.7 million decrease in seasonal tax preparation fees.

Other noninterest income was impacted by a $0.7 million lower-of-cost-or-market (“LOCOM”) adjustment recorded in connection with the repositioning of a pool of lender finance loans to held for sale as part of our ongoing portfolio management efforts.

Compared to the Third Quarter of 2025

Total noninterest income decreased by 1.9% compared to the third quarter of 2025, primarily due to $2.9 million in declines from other noninterest income, partially offset by $2.7 million in increases from wealth management fees.

Busey’s Wealth Management division ended the third quarter of 2026 with $16.72 billion in assets under care, compared to $14.96 billion at the end of the third quarter of 2025. Busey’s portfolio management team continues to focus on long-term returns and managing risk in the face of volatile markets and has outperformed its blended benchmark4 over the last three, five, and seven years.

Declines in other noninterest income were primarily driven by decreases in income from private equity investments, mortgage revenue, and the aforementioned LOCOM adjustment.

First Busey Corporation (BUSE) | 2026 Q3 — 5

Operating Efficiency


	Three Months Ended						Nine Months Ended
(dollars in thousands)	September 30, 2026		June 30, 2026		September 30, 2025		September 30, 2026		September 30, 2025
NONINTEREST EXPENSE
Salaries and employee benefits	$	66,432	$	67,677	$	74,145	$	219,339	$	220,068
Data processing	9,436		8,868		9,714		28,168		33,310
Net occupancy expense of premises	7,977		7,850		7,982		23,479		21,613
Furniture and equipment expenses	2,530		2,336		2,143		7,043		6,296
Professional fees	2,507		3,041		2,931		8,787		15,316
Amortization of intangible assets	4,151		4,232		4,507		12,674		12,182
Interchange expense	1,156		1,096		1,336		3,368		3,976
FDIC insurance	1,293		2,349		3,151		6,093		7,742
Other noninterest expense	15,916		15,186		14,109		44,601		39,378
Total noninterest expense	$	111,398	$	112,635	$	120,018	$	353,552	$	359,881

Adjusted noninterest expense2, which excludes acquisition and restructuring expenses, was as follows:


	Three Months Ended						Nine Months Ended
(dollars in thousands)	September 30, 2026		June 30, 2026		September 30, 2025		September 30, 2026		September 30, 2025
NONINTEREST EXPENSE WITH NON-GAAP ADJUSTMENTS
Salaries and employee benefits	$	65,708	$	65,632	$	68,535	$	200,446	$	187,023
Data processing	9,436		8,868		9,290		28,088		26,620
Net occupancy expense of premises	7,977		7,850		7,973		23,479		21,604
Furniture and equipment expenses	2,530		2,336		2,077		7,043		6,229
Professional fees	2,507		2,337		2,573		7,964		7,347
Amortization of intangible assets	4,151		4,232		4,507		12,674		12,182
Interchange expense	1,156		1,096		1,336		3,368		3,976
FDIC insurance	1,293		2,349		3,151		6,093		7,742
Other noninterest expense	15,539		14,809		13,369		43,470		37,325
Adjusted noninterest expense (Non-GAAP)(i)	$	110,297	$	109,509	$	112,811	$	332,625	$	310,048

___________________________________________

(i)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.

Compared to the Second Quarter of 2026

Total noninterest expense decreased by 1.1% compared to the second quarter of 2026. Excluding acquisition and restructuring expenses, total noninterest expense increased by 0.7%, primarily due to increases in data processing and other noninterest expense, partially offset by a decrease in expense for FDIC insurance. FDIC insurance costs declined as a result of prior-period adjustments. Increases in other noninterest expense were driven by business development and loan costs.

Compared to the Third Quarter of 2025

Total noninterest expense decreased by 7.2% compared to the third quarter of 2025. Excluding acquisition and restructuring expenses, total noninterest expense declined by 2.2%, primarily due to decreases in expense for salaries and employee benefits and FDIC insurance, partially offset by an increase in other noninterest expense. Increases in other noninterest expense were driven by marketing, business development, and check card service fees.

Busey remains focused on prudently managing its expense base and operating efficiency. The efficiency ratio2 was 54.4% for the third quarter of 2026, compared to 54.0% for the second quarter of 2026, and 54.8% for the third quarter of 2025.

First Busey Corporation (BUSE) | 2026 Q3 — 6

BALANCE SHEET STRENGTH

Busey’s financial strength is built on a long-term conservative operating approach. That focus has endured over time and will continue to guide us in the future.


CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited)

	As of
(dollars in thousands)	September 30, 2026		June 30, 2026		September 30, 2025
ASSETS
Cash and cash equivalents	$	883,053	$	665,373	$	371,894
Interest-bearing time deposits in other banks	24,450		14,450		13,580
Debt securities available for sale	2,669,937		2,265,167		2,099,259
Debt securities held to maturity	685,134		703,988		784,821
Equity securities	15,557		16,397		15,931
Loans held for sale	68,081		8,660		8,943
Portfolio loans	12,822,489		13,195,154		13,598,266
Allowance for credit losses	(164,280)		(164,204)		(174,181)
Restricted bank stock	77,067		83,171		77,006
Premises and equipment, net	190,257		191,953		190,721

Goodwill and other intangible assets, net	467,137		471,288		485,203
Other assets	819,724		740,470		717,185
Total assets	$	18,558,606	$	18,191,867	$	18,188,628

LIABILITIES AND STOCKHOLDERS’ EQUITY
Liabilities
Total deposits	$	15,537,566	$	15,128,745	$	15,070,162
Securities sold under agreements to repurchase	154,693		144,061		147,152
Borrowings	302,214		285,734		272,971

Other liabilities	307,854		250,157		249,508
Total liabilities	16,302,327		15,808,697		15,739,793

Stockholders’ equity
Retained earnings	424,880		395,409		303,077
Accumulated other comprehensive income (loss)	(241,880)		(141,080)		(136,801)
Other stockholders' equity(i)	2,073,279		2,128,841		2,282,559
Total stockholders’ equity	2,256,279		2,383,170		2,448,835
Total liabilities and stockholders’ equity	$	18,558,606	$	18,191,867	$	18,188,628

___________________________________________

(i)Net balance of preferred stock ($0.001 par value), common stock ($0.001 par value), additional paid-in capital, and treasury stock.

Loans Held for Sale

A pool of lender finance commercial loans acquired in the acquisition of CrossFirst Bankshares, Inc. (“CrossFirst”) was reclassified to held for sale during the third quarter of 2026. As a result of the transfer, Busey recognized both (1) a $0.7 million LOCOM adjustment as a reduction to other noninterest income, primarily attributable to the purchase premium assigned to these loans at acquisition, and (2) a $0.7 million release of allowance for credit losses as a reduction to provision expense. The loans were subsequently sold in the fourth quarter. As of September 30, 2026, loans held for sale included $3.0 million of mortgage loans and $65.1 million of commercial loans.

First Busey Corporation (BUSE) | 2026 Q3 — 7

Portfolio Loans

Busey remains steadfast in its conservative approach to underwriting and disciplined approach to pricing. Busey’s loan portfolio comprised the following:


	As of
(dollars in thousands)	September 30, 2026		June 30, 2026		September 30, 2025
PORTFOLIO LOANS
Commercial loans:
Commercial and industrial and other commercial	$	3,770,796	$	3,959,997	$	4,395,871
Commercial real estate	5,258,021		5,452,781		5,424,095
Real estate construction	1,066,709		1,027,069		1,099,524
Total commercial loans	10,095,526		10,439,847		10,919,490
Retail loans:
Retail real estate	2,089,618		2,116,360		2,196,246
Retail other	637,345		638,947		482,530
Total retail loans	2,726,963		2,755,307		2,678,776
Total portfolio loans	$	12,822,489	$	13,195,154	$	13,598,266

CRE loans comprised 41.0% of Busey’s total loan portfolio as of September 30, 2026, and CRE properties were 26.6% owner occupied. Owner-occupied commercial real estate is generally dependent on the performance of the borrowers’ businesses, whereas non-owner-occupied commercial real estate is generally reliant on property cash flows generated by third-party tenants.


	As of
(dollars in thousands)	September 30, 2026		June 30, 2026		September 30, 2025
COMMERCIAL REAL ESTATE LOANS
Non-owner-occupied commercial real estate	$	3,861,572	$	4,019,517	$	4,034,429
Owner-occupied commercial real estate	1,396,449		1,433,264		1,389,666
Total commercial real estate loans	$	5,258,021	$	5,452,781	$	5,424,095

First Busey Corporation (BUSE) | 2026 Q3 — 8

Asset Quality

Despite the previously mentioned credit relationship that went on non-accural status, asset quality remains strong. Busey maintains a well-diversified loan portfolio and, as a matter of policy and practice, limits concentration exposure in any particular loan segment.




	As of
(dollars in thousands)	September 30, 2026			June 30, 2026			September 30, 2025
Total assets	$	18,558,606		$	18,191,867		$	18,188,628
Portfolio loans	12,822,489			13,195,154			13,598,266
Loans 30 – 89 days past due	16,877			8,135			18,914
Non-performing loans:
Non-accrual loans	80,949			62,766			46,096
Loans 90+ days past due and still accruing	689			4,668			1,418
Non-performing loans	81,638			67,434			47,514
Other non-performing assets	1,969			2,871			10,210
Non-performing assets	83,607			70,305			57,724
Substandard (excludes 90+ days past due)	161,253			155,737			103,329
Classified assets	$	244,860		$	226,042		$	161,053

Allowance for credit losses	$	164,280		$	164,204		$	174,181

RATIOS
Non-performing loans to portfolio loans	0.64		%	0.51		%	0.35		%
Non-performing assets to total assets	0.45		%	0.39		%	0.32		%
Non-performing assets to portfolio loans and other non-performing assets	0.65		%	0.53		%	0.42		%
Allowance for credit losses to portfolio loans	1.28		%	1.24		%	1.28		%
Coverage ratio of the allowance for credit losses to non-performing loans	2.01 x			2.44 x			3.67 x
Classified assets to Bank Tier 1 capital(i) and allowance for credit losses	10.61		%	9.69		%	7.03		%

___________________________________________

(i)Capital amounts for the third quarter of 2026 are not yet finalized and are subject to change.

Non-performing assets increased by $13.3 million compared to June 30, 2026, and increased by $25.9 million compared to September 30, 2025. The quarter-over-quarter increase was driven by one commercial relationship totaling $37.6 million. Due to emerging circumstances, the relationship was moved to a non-accrual 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 September 30, 2026, balance. Non-performing assets represented 0.45% of total assets as of September 30, 2026, a 6 basis point increase from June 30, 2026, and a 13 basis point increase from September 30, 2025.

Classified assets increased by $18.8 million compared to June 30, 2026, and increased by $83.8 million compared to September 30, 2025.

The allowance for credit losses was $164.3 million as of September 30, 2026, equal to 2.0 times the balance of non-performing loans and representing 1.28% of total portfolio loans.

First Busey Corporation (BUSE) | 2026 Q3 — 9

Busey’s net charge-offs and provision for credit losses were as follows:


NET CHARGE-OFFS (RECOVERIES) AND PROVISION EXPENSE (RELEASE) (unaudited)

	Three Months Ended									Nine Months Ended
(dollars in thousands)	September 30, 2026			June 30, 2026			September 30, 2025			September 30, 2026			September 30, 2025(i)
Net charge-offs	$	11,368		$	6,382		$	5,848		$	25,112		$	50,158

Provision for loan losses	$	11,444		$	1,532		$	(3,305)		$	15,369		$	40,152
Provision for unfunded commitments	(1,802)			657			2,320			(480)			10,156
Provision for credit losses	$	9,642		$	2,189		$	(985)		$	14,889		$	50,308



Net charge-off ratio(ii)	0.35		%	0.19		%	0.17		%	0.25		%	0.54		%

___________________________________________

(i)The nine months ended September 30, 2025, included $42.4 million to establish an initial allowance for loan losses for loans purchased without credit deterioration (“non-PCD” loans) and $7.2 million to establish an initial allowance for unfunded commitments following the close of the CrossFirst acquisition in the first quarter of 2025 and adoption of a new CECL model in the second quarter of 2025.

(ii)Annualized measure.

Net charge-offs increased by $5.0 million when compared to the second quarter of 2026, and increased by $5.5 million when compared with the third quarter of 2025. The third quarter increase in net charge-offs was primarily the result of the commercial relationship for which Busey recorded a $10.0 million partial charge-off, as discussed above.

Deposits

Busey’s deposits were comprised of the following:


	As of
(dollars in thousands)	September 30, 2026		June 30, 2026		September 30, 2025
DEPOSITS
Noninterest-bearing deposits	$	3,439,061	$	3,496,319	$	3,554,936
Interest-bearing transaction deposits	3,546,503		3,315,200		3,171,255
Savings deposits and money market deposits	6,147,198		5,934,920		5,910,183
Time deposits	2,404,804		2,382,306		2,433,788
Total deposits	$	15,537,566	$	15,128,745	$	15,070,162

Busey’s loan-to-deposit ratio improved to 82.5% as of September 30, 2026, compared to 87.2% as of June 30, 2026. Core deposits2 accounted for 94.0% of total deposits as of September 30, 2026. The quality of Busey’s core deposit franchise is a critical value driver of the institution. In addition to the $3.44 billion of noninterest-bearing deposits, Busey also has $1.84 billion of interest-bearing non-maturity deposits that are priced at 1 basis point, providing stable, rate inelastic funding. Busey management believes we have ample on- and off-balance sheet liquidity to manage deposit fluctuations and the liquidity needs of our customers.

Liquidity

As of September 30, 2026, Busey’s available sources of on- and off-balance sheet liquidity5 totaled $9.36 billion. Furthermore, Busey’s balance sheet liquidity profile continues to be aided by the cash flows expected from Busey’s relatively short-duration securities portfolio. Those cash flows were approximately $138.0 million in the third quarter of 2026. Cash flows from our securities portfolio are expected to be approximately $89.6 million for the remainder of 2026, with a current book yield of 3.40%.

First Busey Corporation (BUSE) | 2026 Q3 — 10

Capital Strength

The strength of our balance sheet is also reflected in our robust capital foundation. The following table presents Busey’s capital estimates3 and tangible equity position:


	As of
(dollars in thousands, except per share amounts)	September 30, 2026			June 30, 2026			September 30, 2025
Common equity Tier 1 capital to risk weighted assets(i)	12.47		%	12.53		%	12.33		%

Total capital to risk weighted assets(i)	16.10		%	16.10		%	15.89		%

Tangible common equity(ii)	$	1,573,945		$	1,696,685		$	1,748,435
Tangible common equity to tangible assets(ii)	8.70		%	9.57		%	9.88		%
Tangible book value per common share(ii)	$	19.37		$	20.40		$	19.69

___________________________________________

(i)Capital amounts and ratios as of September 30, 2026, are not yet finalized and are subject to change.

(ii)For a reconciliation of non-GAAP measures to the most directly comparable GAAP financial measures, see “Non-GAAP Financial Information.”

Dividends

Busey's strong capital levels, coupled with its earnings, have allowed it to provide a steady return to its stockholders through dividends. During the third quarter of 2026, Busey paid dividends of $0.26 per share on its outstanding shares of common stock. Busey also paid dividends of $20.00 per share on its outstanding shares of Series A Non-Cumulative Perpetual Preferred Stock and $0.515625 per share on its outstanding depositary shares, each representing a 1/40th interest in a share of Busey’s 8.25% Fixed-Rate Series B Non-Cumulative Perpetual Preferred Stock.

Share Repurchases

During the third quarter of 2026, under its stock repurchase plan, Busey purchased 1,972,900 shares of its common stock at a weighted average price of $30.21 per share for a total of $59.6 million (excluding excise taxes). As of September 30, 2026, Busey had 1,925,875 shares remaining available for repurchase under the plan.

THIRD QUARTER EARNINGS INVESTOR PRESENTATION

For additional information on Busey’s financial condition and operating results, please refer to our Q3 2026 Earnings Investor Presentation furnished via Form 8‑K on October 27, 2026, in connection with this earnings release.

CORPORATE PROFILE

As of September 30, 2026, First Busey Corporation (Nasdaq: BUSE) was an $18.56 billion financial holding company headquartered in Leawood, Kansas.

Busey Bank, a wholly-owned bank subsidiary of First Busey Corporation headquartered in Champaign, Illinois, had total assets of $18.51 billion as of September 30, 2026. Busey Bank currently has 80 banking centers, with 21 in central Illinois markets, 17 in suburban Chicago markets, 20 in the St. Louis Metropolitan Statistical Area, four in the Dallas-Fort Worth Metropolitan Statistical Area, three in the Kansas City Metropolitan Statistical Area, three in southwest Florida, three in Oklahoma, three in Colorado, three in Arizona, one in Indianapolis, Indiana, one in Wichita, Kansas, and one in Clayton, New Mexico. More information about Busey Bank can be found at busey.com.

Through its Wealth Management division, Busey provides a full range of asset management, investment, brokerage, fiduciary, philanthropic advisory, tax preparation, and farm management services to individuals, businesses, and foundations. Assets under care totaled $16.72 billion as of September 30, 2026. More information about Busey’s Wealth Management services can be found at busey.com/wealthmanagement.

Busey Bank’s payment technology solutions specialize in the evolving financial technology needs of small and medium-sized businesses, highly regulated enterprise industries, and financial institutions. Busey provides comprehensive and innovative payment technology solutions, including online, mobile, and voice-recognition bill payments; money and data movement; merchant services; direct debit services; lockbox remittance processing for payments made by mail; and walk-in payments at retail agents. Additionally, Busey simplifies client workflows through integrations enabling support with billing, reconciliation, bill reminders, and treasury services.

First Busey Corporation (BUSE) | 2026 Q3 — 11

Busey is honored to be consistently recognized as an outstanding financial services organization with the proven ability to preserve profitability, along with an engaged culture of integrity and commitment to community development. In 2026, Busey was recognized among the World’s Top Performing Banks by Forbes and American Banker’s Top-Performing Banks with $10 to $50 billion in assets. Additionally, American Banker has named Busey a Best Bank to Work For since 2016 while Pensions and Investments has recognized Busey as a Best Place to Work in Money Management since 2018. At the local level, Busey is continually honored among the Best Places to Work in Illinois (since 2016), Best Companies to Work For in Florida (since 2017) and Best Places to Work in Indiana (since 2024).

NON-GAAP FINANCIAL INFORMATION

This earnings release contains certain financial information determined by methods other than 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.

The following tables 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.

First Busey Corporation (BUSE) | 2026 Q3 — 12

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (Unaudited)


Calculation of Adjusted Net Income and Adjusted Diluted Earnings Per Common Share

		Three Months Ended						Nine Months Ended
(dollars in thousands, except per share amounts)		September 30, 2026		June 30, 2026		September 30, 2025		September 30, 2026		September 30, 2025
Net income (GAAP)	[a]	$	55,845	$	63,176	$	57,098	$	169,002	$	74,512
Day 2 provision for credit losses(i)		—		—		—		—		45,572
Adjustment of initial provision for unfunded commitments due to adoption of new model(ii)		—		—		—		—		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 benefit(iii)		(451)		(170)		(2,141)		(5,031)		(29,181)
Non-recurring deferred tax adjustment(iv)		—		—		—		—		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

___________________________________________

(i)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.

(ii)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.

(iii)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.

(iv)A deferred tax valuation 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. Additionally, 2025 included a write-off of deferred tax assets related to non-deductible compensation and acquisition-related expenses. Deferred tax adjustments are reflected within the income taxes line on the Statements of Income.

First Busey Corporation (BUSE) | 2026 Q3 — 13

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (Unaudited)


Calculation of Return On Average Assets, Return On Average Tangible Common Equity, and Related Adjusted Return Measures

		Three Months Ended									Nine Months Ended
(dollars in thousands)		September 30, 2026			June 30, 2026			September 30, 2025			September 30, 2026			September 30, 2025
Net income (GAAP)	[a]	$	55,845		$	63,176		$	57,098		$	169,002		$	74,512
Amortization of intangible assets		4,151			4,232			4,507			12,674			12,182
Tax effect of amortization of intangible assets(i)		(1,038)			(1,058)			(1,210)			(3,169)			(3,245)
Preferred dividends		(4,589)			(4,590)			(5,131)			(13,768)			(5,286)
Tangible net income available to common stockholders (Non-GAAP)	[b]	$	54,369		$	61,760		$	55,264		$	164,739		$	78,163





Adjusted net income (Non-GAAP)(ii)	[c]	$	57,198		$	63,687		$	62,496		$	184,096		$	159,788
Amortization of intangible assets		4,151			4,232			4,507			12,674			12,182
Tax effect of amortization of intangible assets(i)		(1,038)			(1,058)			(1,210)			(3,169)			(3,245)
Preferred dividends		(4,589)			(4,590)			(5,131)			(13,768)			(5,286)
Adjusted tangible net income available to common stockholders (Non-GAAP)	[d]	$	55,722		$	62,271		$	60,662		$	179,833		$	163,439

Average total assets	[e]	$	18,470,939		$	17,887,097		$	18,662,449		$	18,140,923		$	17,534,644
Return on average assets (Non-GAAP)(iii)	[a÷e]	1.20		%	1.42		%	1.21		%	1.25		%	0.57		%
Adjusted return on average assets (Non-GAAP)(iii)	[c÷e]	1.23		%	1.43		%	1.33		%	1.36		%	1.22		%

Average common equity		$	2,138,564		$	2,183,290		$	2,210,711		$	2,191,883		$	2,109,046
Average goodwill and other intangible assets, net		(469,792)			(474,043)			(486,625)			(474,207)			(464,316)
Average tangible common equity (Non-GAAP)	[f]	$	1,668,772		$	1,709,247		$	1,724,086		$	1,717,676		$	1,644,730

Return on average tangible common equity (Non-GAAP)(iii, iv)	[b÷f]	12.93		%	14.49		%	12.72		%	12.82		%	6.35		%
Adjusted return on average tangible common equity (Non-GAAP)(iii, iv)	[d÷f]	13.25		%	14.61		%	13.96		%	14.00		%	13.29		%

___________________________________________

(i)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.

(ii)A reconciliation is provided on the previous table.

(iii)Annualized measure.

(iv)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.

First Busey Corporation (BUSE) | 2026 Q3 — 14

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (Unaudited)


Calculation of Net Interest Margin and Adjusted Net Interest Margin

		Three Months Ended									Nine Months Ended
(dollars in thousands)		September 30, 2026			June 30, 2026			September 30, 2025			September 30, 2026			September 30, 2025
Net interest income (GAAP)		$	153,145		$	152,402		$	155,137		$	459,516		$	412,051
Tax-equivalent adjustment(i)		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)(ii)	[a÷c]	3.58		%	3.72		%	3.58		%	3.69		%	3.43		%
Adjusted net interest margin (Non-GAAP)(ii)	[b÷c]	3.46		%	3.62		%	3.45		%	3.57		%	3.30		%

___________________________________________

(i)Tax-equivalent adjustments were calculated using an estimated federal income tax rate of 21%, applied to non-taxable interest income on investments and loans.

(ii)Annualized measure.


Calculation of Pre-Provision Net Revenue and Related Measures

		Three Months Ended									Nine Months Ended
(dollars in thousands)		September 30, 2026			June 30, 2026			September 30, 2025			September 30, 2026			September 30, 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)(i)	[a÷c]	1.78		%	1.83		%	1.63		%	1.71		%	1.29		%
Adjusted pre-provision net revenue to average total assets (Non-GAAP)(i)	[b÷c]	1.80		%	1.90		%	1.78		%	1.87		%	1.67		%

___________________________________________

(i)Annualized measure.

First Busey Corporation (BUSE) | 2026 Q3 — 15

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (Unaudited)


Calculation of Efficiency Ratio

		Three Months Ended									Nine Months Ended
(dollars in thousands)		September 30, 2026			June 30, 2026			September 30, 2025			September 30, 2026			September 30, 2025
Net interest income (GAAP)	[a]	$	153,145		$	152,402		$	155,137		$	459,516		$	412,051
Tax-equivalent adjustment(i)		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)(ii)	[e = b+c]	195,101			195,109			197,455			588,261			531,554

Adjusted noninterest income to operating revenue (Non-GAAP)	[c÷d]	21.16		%	21.55		%	21.12		%	21.54		%	22.17		%

Total noninterest expense (GAAP)		$	111,398		$	112,635		$	120,018		$	353,552		$	359,881
Acquisition and restructuring expenses, excluding initial provision expenses		(1,101)			(3,126)			(7,207)			(20,927)			(49,833)
Adjusted noninterest expense (Non-GAAP)(iii)		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)(iv)	[f]	$	106,146		$	105,277		$	108,304		$	319,951		$	297,866

Efficiency ratio (Non-GAAP)(v)	[f÷e]	54.41		%	53.96		%	54.85		%	54.39		%	56.04		%

___________________________________________

(i)Tax-equivalent adjustments were calculated using an estimated federal income tax rate of 21%, applied to non-taxable interest income on investments and loans.

(ii)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.

(iii)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.

(iv)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.

(v)Beginning in 2026, Busey now reports a single efficiency ratio, which was previously reported as the “adjusted efficiency ratio.”

First Busey Corporation (BUSE) | 2026 Q3 — 16

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (Unaudited)


Calculation of Tangible Common Equity, and Related Measures and Ratio

		As of
(dollars in thousands, except per share amounts)		September 30, 2026			June 30, 2026			September 30, 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)(i)	[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
(dollars in thousands)		September 30, 2026			June 30, 2026			September 30, 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		%

First Busey Corporation (BUSE) | 2026 Q3 — 17

FORWARD-LOOKING STATEMENTS

This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, with respect to Busey’s financial condition, results of operations, plans, objectives, future performance, and business. Forward-looking statements, which may be based upon beliefs, expectations and assumptions of Busey’s management and on information currently available to management, are generally identifiable by the use of words such as “believe,” “expect,” “anticipate,” “plan,” “intend,” “estimate,” “may,” “will,” “would,” “could,” “should,” “position,” or other similar expressions. Additionally, all statements in this document, including forward-looking statements, speak only as of the date they are made, and Busey undertakes no obligation to update any statement in light of new information or future events.

A number of factors, many of which are beyond Busey’s ability to control or predict, could cause actual results to differ materially from those in any forward-looking statements. These factors include, among others, the following: (1) the strength of the local, state, national, and international economies and financial markets (including effects of inflationary pressures, the threat or implementation of tariffs, trade wars, and changes to immigration policy); (2) changes in, and the interpretation and prioritization of, local, state, and federal laws, regulations, and governmental policies (including those concerning Busey's general business); (3) the economic impact of any future terrorist threats or attacks, widespread disease or pandemics, military conflicts, acts of war or threats thereof, or other adverse external events that could increase levels of political and economic unpredictability, contribute to rising energy and commodity prices, affect global supply chains, increase the volatility of financial markets, and other matters beyond our control (including the conflicts in the Middle East and Russia’s invasion of Ukraine); (4) unexpected results of acquisitions, which may include the failure to realize the anticipated benefits of the acquisitions and the possibility that the transaction and integration costs may be greater than anticipated; (5) the imposition of tariffs or other governmental policies impacting the value of products produced by Busey's commercial borrowers; (6) the impact of bank failures or adverse developments at other banks and related negative publicity about the banking industry, including investor and depositor sentiment regarding bank stability and liquidity; (7) new or revised accounting policies and practices as may be adopted by state and federal regulatory banking agencies, the Financial Accounting Standards Board, the Securities and Exchange Commission, or the Public Company Accounting Oversight Board; (8) changes in interest rates and prepayment rates of Busey’s assets (including as a result of the recent increase in the benchmark federal funds rate by the Federal Reserve); (9) increased competition in the financial services sector (including from non-bank competitors such as credit unions, digital asset service providers, private credit, and fintech companies) and the inability to attract new customers; (10) technological changes implemented by us and other parties, including our third-party vendors, which may have unforeseen consequences to us and our customers, including the development and implementation of tools incorporating artificial intelligence; (11) the loss of key executives or associates, talent shortages, and employee turnover; (12) unexpected outcomes and costs of existing or new litigation, investigations, or other legal proceedings, inquiries, and regulatory actions involving Busey (including with respect to Busey’s Illinois franchise taxes); (13) fluctuations in the value of securities held in Busey’s securities portfolio, including as a result of changes in interest rates; (14) credit risk and risk from concentrations (by type of borrower, geographic area, collateral, and industry) within Busey's loan portfolio and large loans to certain borrowers (including commercial real estate loans); (15) the concentration of large deposits from certain clients who have balances above current Federal Deposit Insurance Corporation insurance limits and may withdraw deposits to diversify their exposure; (16) the level of non-performing assets on Busey’s balance sheets; (17) interruptions involving information technology and communications systems or third-party vendors; (18) breaches or failures of information security controls or cybersecurity-related incidents; (19) the availability of future equity and debt issuances and other capital raising opportunities on favorable terms; (20) the economic impact on Busey and its customers of climate change, natural disasters, and exceptional weather occurrences such as tornadoes, hurricanes, floods, blizzards, and droughts; (21) the ability to successfully manage liquidity risk, which may increase dependence on non-core funding sources such as brokered deposits, and may negatively impact Busey's cost of funds; (22) the ability to maintain an adequate level of allowance for credit losses on loans; (23) the effectiveness of Busey’s risk management framework; and (24) the ability of Busey to manage the risks associated with the foregoing. These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements.

Additional information concerning Busey and its business, including additional factors that could materially affect Busey’s financial results, is included in Busey’s filings with the Securities and Exchange Commission.

First Busey Corporation (BUSE) | 2026 Q3 — 18

END NOTES


1			Annualized measure.
2			Represents a non-GAAP financial measure. For a reconciliation to the most directly comparable financial measure calculated and presented in accordance with Generally Accepted Accounting Principles (“GAAP”), see "Non-GAAP Financial Information.”
3			Capital amounts and ratios as of September 30, 2026, are not yet finalized and are subject to change.
4			The blended benchmark consists of 60% MSCI All Country World Index and 40% Bloomberg Intermediate US Government/Credit Total Return Index.
5			On- and off-balance sheet liquidity is comprised of cash and cash equivalents, debt securities excluding those pledged as collateral, brokered deposits, and Busey’s borrowing capacity through its revolving credit facility, the FHLB, the Federal Reserve Bank, and federal funds purchased lines.

First Busey Corporation (BUSE) | 2026 Q3 — 19

FIRST BUSEY CORPORATION

11440 Tomahawk Creek Parkway, Leawood, KS 66211

NASDAQ: BUSE

100 West University Avenue, Champaign, IL 61820


Member FDIC						busey.com

Q3 2026 EARNINGS INVESTOR PRESENTATION October 27, 2026

23Q26 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE This presentation may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, with respect to First Busey Corporation’s (“Busey’s”) financial condition, results of operations, plans, objectives, future performance, and business. Forward-looking statements, which may be based upon beliefs, expectations and assumptions of Busey’s management and on information currently available to management, are generally identifiable by the use of words such as “believe,” “expect,” “anticipate,” “plan,” “intend,” “estimate,” “may,” “will,” “would,” “could,” “should,” “position,” or other similar expressions. Additionally, all statements in this document, including forward-looking statements, speak only as of the date they are made, and Busey undertakes no obligation to update any statement in light of new information or future events. A number of factors, many of which are beyond Busey’s ability to control or predict, could cause actual results to differ materially from those in any forward-looking statements. These factors include, among others, the following: (1) the strength of the local, state, national, and international economies and financial markets (including effects of inflationary pressures, the threat or implementation of tariffs, trade wars, and changes to immigration policy); (2) changes in, and the interpretation and prioritization of, local, state, and federal laws, regulations, and governmental policies (including those concerning Busey's general business); (3) the economic impact of any future terrorist threats or attacks, widespread disease or pandemics, military conflicts, acts of war or threats thereof, or other adverse external events that could increase levels of political and economic unpredictability, contribute to rising energy and commodity prices, affect global supply chains, increase the volatility of financial markets, and other matters beyond our control (including the conflicts in the Middle East and Russia’s invasion of Ukraine); (4) unexpected results of acquisitions, which may include the failure to realize the anticipated benefits of the acquisitions and the possibility that the transaction and integration costs may be greater than anticipated; (5) the imposition of tariffs or other governmental policies impacting the value of products produced by Busey's commercial borrowers; (6) the impact of bank failures or adverse developments at other banks and related negative publicity about the banking industry, including investor and depositor sentiment regarding bank stability and liquidity; (7) new or revised accounting policies and practices as may be adopted by state and federal regulatory banking agencies, the Financial Accounting Standards Board, the Securities and Exchange Commission, or the Public Company Accounting Oversight Board; (8) changes in interest rates and prepayment rates of Busey’s assets (including as a result of the recent increase in the benchmark federal funds rate by the Federal Reserve); (9) increased competition in the financial services sector (including from non-bank competitors such as credit unions, digital asset service providers, private credit, and fintech companies) and the inability to attract new customers; (10) technological changes implemented by us and other parties, including our third-party vendors, which may have unforeseen consequences to us and our customers, including the development and implementation of tools incorporating artificial intelligence; (11) the loss of key executives or associates, talent shortages, and employee turnover; (12) unexpected outcomes and costs of existing or new litigation, investigations, or other legal proceedings, inquiries, and regulatory actions involving Busey (including with respect to Busey’s Illinois franchise taxes); (13) fluctuations in the value of securities held in Busey’s securities portfolio, including as a result of changes in interest rates; (14) credit risk and risk from concentrations (by type of borrower, geographic area, collateral, and industry) within Busey's loan portfolio and large loans to certain borrowers (including commercial real estate loans); (15) the concentration of large deposits from certain clients who have balances above current Federal Deposit Insurance Corporation insurance limits and may withdraw deposits to diversify their exposure; (16) the level of non-performing assets on Busey’s balance sheets; (17) interruptions involving information technology and communications systems or third-party vendors; (18) breaches or failures of information security controls or cybersecurity- related incidents; (19) the availability of future equity and debt issuances and other capital raising opportunities on favorable terms; (20) the economic impact on Busey and its customers of climate change, natural disasters, and exceptional weather occurrences such as tornadoes, hurricanes, floods, blizzards, and droughts; (21) the ability to successfully manage liquidity risk, which may increase dependence on non-core funding sources such as brokered deposits, and may negatively impact Busey's cost of funds; (22) the ability to maintain an adequate level of allowance for credit losses on loans; (23) the effectiveness of Busey’s risk management framework; and (24) the ability of Busey to manage the risks associated with the foregoing. These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. Additional information concerning Busey and its business, including additional factors that could materially affect Busey’s financial results, is included in Busey’s filings with the Securities and Exchange Commission. Forward-Looking Statements

33Q26 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE Table of Contents Overview 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

43Q26 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE Overview of First Busey Corporation (NASDAQ: BUSE) Holding company of a 158+ year old bank Corporate headquarters in Leawood, KS $18.6 Billion Total Assets 1 $16.7 Billion Wealth Assets Under Care 1 $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 A full suite of solutions provided to our clients for every stage of their business and personal life

53Q26 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 1 Non-GAAP calculations, see Appendix 3Q26 Review Financial Results Metric 2Q26 3Q26 Adj. Diluted EPS 1 $0.69 $0.63 Adj. Net Income to Common S/H 1 $59 million $53 million Total Operating Revenue 1 $194 million $194 million Net Interest Margin 1 3.72% 3.58% Adj. Net Interest Margin 1 3.62% 3.46% Net Interest Income $152 million $153 million Adj. Noninterest Income 1 $42 million $41 million 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% 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 ▪ Assets 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 Wealth management exhibits excellent performance ▪ CET1 at 12.47%, up 14 bps YoY. Ex-AOCI, TBV per share up 3% YoY and up 7% inclusive of dividends ▪ Since embarking on share repurchase initiative in March 2025, repurchased ~11% of the total common shares that were outstanding at 3/31/25 and returned $258 million to shareholders via buybacks Capital capacity remains compelling as share repurchase initiative continues ▪ 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% Sustained sequential deposit growth amid anticipated loan attrition as overall asset quality remains healthy ▪ One $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 Stable revenue driven by growing net interest income, but provision expense was above prior periods which pressured profitability $153.2 $41.1 -$110.3 -$9.6 -$16.7 -$0.5 -$4.6 $52.6 Net Interest Income Adj. Noninterest Income¹ Adj. Noninterest Expense¹ Provision for credit losses Income Taxes Reversal of tax benefit from non-operating costs Preferred Dividend Adj. Net Income to Common Shareholders¹ 3Q26 Summary Income Statement 22.98% Effective Tax Rate 1.28% Allowance/Loans $ in millions 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 Repurchase Plan Update +0.5% QoQ (-0.1% ex-PAA) -1.8% QoQ +0.7% QoQ

63Q26 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE $13.05 $31.81 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 2026 Q3 $10 $20 $30 $57.4 $60.6 $58.6 $59.1 $52.6 $0.64 $0.68 $0.67 $0.69 $0.63 Adj. Net Income Avail. to Common S/H Adj. EPS 2025 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3 14.0% 14.3% 14.1% 14.6% 13.2% 1.33% 1.41% 1.42% 1.43% 1.23% Adj. ROATCE Adj. ROAA 2025 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3 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 Earnings Performance Adjusted Net Income & Earnings Per Common Share 1 Adjusted ROATCE & Adjusted ROAA 1 $ in millions 2021 Q3 2022 Q3 2023 Q3 2024 Q3 2025 Q3 2026 Q3 $0.40 $0.50 $0.60 $0.70 $0.80 Earnings Track Record: Adjusted EPS1 5-Year Trend +10% CAGR +$18.76 Current common stock dividend yield of 3.4%3 Tangible Common BV 1 / Share (ex-AOCI) + Dividends 2

73Q26 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE Attractive Profitability and Returns Disciplined Growth Strategy Driven by Regional Operating Model Balance Sheet Strength 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 Investment Highlights ▪ Significantly improved ROAA1 and Efficiency Ratio1 with initiatives undertaken 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 $ in billions 3Q26 KRE Median MRQ 3 Total Assets $18.6 $11.6 Total Loans $12.8 $8.3 Total Deposits $15.5 $9.2 Total Wealth AUC $16.7 NM TCE Ratio1 8.7 % 8.8 % CET1 Ratio2 12.5 % 12.6 % NPA/Assets 0.45 % 0.49 % Net Interest Margin 1 3.58 % 3.76 % Adj. Nonint. Income % of Operating Revenue 1 21.2 % 16.6 % 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 Financial Highlights Core Deposits Asset Quality Robust Capital Efficient Profits Dividends Share Repurchases ▪ 94.0% core deposit1 base that is granular and low cost at 1.93% total cost of deposits in 3Q26 ▪ Robust capital foundation with capital ratios at a $800 million+ excess over well-capitalized minimums with capital buffer2 ▪ High quality, conservatively underwritten loan portfolio with low levels of concentration; strong reserve levels with allowance/loans at 1.28% ▪ Active share repurchase program: since March 2025, buybacks representing ~11% of outstanding common shares and returning $258 million to shareholders ▪ Quarterly common stock dividend of $0.26 (3.4% yield)4, with dividend payout ratio ranging from 37%-41% in the last twelve months ▪ 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 ▪ Wealth Management AUC of $16.7 billion at 9/30/26, up 12% YoY, supported by net new inflows including from new Western markets

83Q26 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE Strategically Configured Regional Operating Model 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 Life Equity Lending Structured Finance Energy Banking SBA Lending $8B deposits $2B deposits $5B loans $14B AUC $3B AUC $2B loans $3B deposits $2B loans $1B deposits $1B loans $1B deposits $1B loans $1B loans Enterprise-wide sales structure is organized by region – bringing full capabilities and the complete Busey experience to each community through local leadership and autonomy Notes: Balances based on origination location; data as of 9/30/26 $0.2B AUC

93Q26 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE Commercial & Industrial 30% Owner- Occupied CRE 11% Non-Owner- Occupied CRE 30% Real Estate Construction 8% Residential Real Estate 16% Other 5% 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 Classified Assets / Capital 1 NPLs / Total Loans 10.6% 0.64% KRE Mean MRQ 2 KRE Mean MRQ 2 13.0% 0.72% High Quality Loan Portfolio Loan Portfolio Regional Segmentation 3 Loan Portfolio Composition Total Loan Portfolio: $12.8 Billion Commercially-oriented portfolio is well-diversified by sector and geographic location and conservatively underwritten with low levels of concentration Portfolio 2026 Q2 QoQ ∆ 2026 Q3 % of Total East (Chicago, Southwest FL) $2,549 -$116 $2,433 19.0 % Midwest (Central IL, Indy, St. Louis) $4,597 -$11 $4,586 35.8 % Central (KC, Wichita, OKC, Tulsa) $1,896 +$20 $1,916 14.9 % Texas (Dallas, Fort Worth) $1,615 -$221 $1,394 10.9 % 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 % West region produced growth of 2% QoQ; driven by production from new hires and existing teams in Phoenix and Denver markets $ in millions 7.06% 6.35% 6.49% 6.23% 6.32% 6.20% 6.10% 6.03% 5.97% 5.99% 4.35% 4.09% 3.68% 3.63% 3.64% Net New Funding Yield Loan Yield SOFR 30D (Avg) 9/30/25 12/31/25 3/31/26 6/30/26 9/30/26 Loan Yield +$407 +$21 -$65 -$592 -$143 New Loan Production Net Line of Credit Draws Lender Finance Loan pool moved to held for sale Payoffs⁴ Amortization -$400 +$600 Commercial Loans / Total Portfolio 79% 100/300 Test 46% C&D / 218% CRE 3Q26 Loan Balances Change Life Equity Lending continued to provide strong loan production that partially offset declines in other verticals Disciplined loan pricing remains a key enterprise-wide priority Anticipated QoQ balance decline influenced by loan pool sale, and payoff headwinds that are expected to continue into 4Q26 $ in millions As of 9/30/26 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 East region experienced forecasted payoff and paydown pressures in Chicagoland

103Q26 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE ▪ Our 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 1 Average loans was calculated as the average of the ending portfolio loan balances over the most recent four quarters Strong Credit Quality Nonperforming Assets / Total Assets Net Charge-Offs / Average Loans (Annualized) 1 0.06% 0.19% 0.32% 0.28% 0.39% 0.45% 0.40% 0.52% 0.55% 0.57% 0.58% Busey KRE Mean 2023 YE 2024 YE 2025 YE 2026 Q1 2026 Q2 2026 Q3 $ in millions $ in millions BUSE NPAs $7.9 $23.3 $58.1 $49.9 $70.3 $83.6 BUSE NCOs $5.8 $5.8 $7.4 $6.4 $11.4 0.17% 0.17% 0.22% 0.19% 0.35% 0.32% 0.26% 0.23% 0.26% Busey KRE Mean 2025 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3 ▪ Reserves + purchase accounting marks / loans = 1.84% ▪ Allowance to Nonperforming Loans coverage of 2.01x Allowance / Loans 1.20% 1.08% 1.28% 1.26% 1.24% 1.28% 1.22% 1.24% 1.23% 1.23% 1.22% Busey KRE Mean 2023 YE 2024 YE 2025 YE 2026 Q1 2026 Q2 2026 Q3

113Q26 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE $15,070 $14,906 $14,736 $15,129 $15,538 2.15% 1.91% 1.81% 1.80% 1.93% Total Deposits Total Cost of Deposits 2025 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3 Noninterest- bearing 22.1% Interest-bearing 22.8% Savings & Money Market 39.6% Brokered 0.1% Time <250k 9.5% Time >250k 5.9% 1 Non-GAAP calculation, see Appendix Top Tier Core Deposit Franchise Deposit Portfolio Composition Total Deposits: $15.5 Billion As of 9/30/26 ▪ Spot total cost of deposits was 1.97% at 9/30/26, compared to spot cost of 1.87% at 6/30/26 and 3Q26 total average cost of deposits of 1.93% 4Q26 1H27 2H27 Balances ($ millions) $755 $1,224 $315 Weighted Average Rate 3.5 % 3.4 % 3.8 % CD Maturity Schedule as of 9/30/26 ▪ New CD production in 3Q26 had a weighted-average term of 9.2 months and a weighted-average rate of 3.5% $194 million Average Deposits per Branch Low Cost, Granular Deposit Base with an Efficient Branch Footprint 82.5% Loan-to-Deposit Ratio 94.0% Core Deposits1 1.93% MRQ Average Cost of Deposits 34% % of Total Deposits priced at 1 bp or less Deposit Portfolio Trend $ in millions +$802 million, or 5%, over last 2 quarters

123Q26 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE $155.1 $157.6 $154.0 $152.4 $153.1 $149.2 $152.4 $148.6 $148.2 $148.0 $5.9 $5.2 $5.4 $4.2 $5.2 Net Interest Income ex-PAA Purchase Accounting Accretion 2025 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3 5.63% 5.63% 5.53% 5.47% 5.43% 2.22% 1.97% 1.89% 1.89% 1.99% 3.58% 3.71% 3.77% 3.72% 3.58% Earning Assets Cost of Funds NIM 2025 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3 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 $ in millions Net Interest Margin Trend 1Net Interest Income Trend Net Interest Margin Note: Company Purchase Accounting Schedule in appendix Avg IE Assets ($B) $17.27 $16.94 $16.67 $16.51 $17.06 4Q26 2027 2028 Roll-off Cash Flow ($ millions) $90 $342 $374 Approximate Roll-off Yield 3.4 % 3.4 % 3.7 % 4Q26 2027 2028 Balances ($ millions) $389 $992 $679 Weighted Average Rate 4.9 % 5.0 % 5.3 % Scheduled Maturities / Repricing of Fixed Rate Loans Roll-off of Securities 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% New Securities purchased at: ~5.10% Net Interest Income Rate Sensitivity 2 Rate Shock Year 1 NII Impact Year 2 NII Impact +200 bps +2.5 % +2.9 % +100 bps +1.5 % +1.7 % -100 bps -0.6 % -1.6 % -200 bps -0.4 % -2.7 % Balance sheet remains well-positioned for rate neutrality Reported Ex-PAA Net Interest Income +$0.7 million 0.5% -$0.2 million -0.1% Net Interest Margin -14 bps -16 bps ▪ 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 QoQ due to higher than expected payoffs of discount marked loans, while ex-PAA net interest income was relatively stable, down -0.1% QoQ Change in NII and NIM 3.08% 3.33% 3.45% 3.59% 3.64% 3.62% 3.46% 2025 Q1 2025 Q2 2025 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3 Ex-PAA NIM Trend

133Q26 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE Payment Technology Solutions includes lockbox/ACH payment processing, merchant services, online payments, and other electronic payments Treasury Management Services includes commercial cash management services, wires, and other commercial business service charges 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 $196.7 $200.9 $197.2 $194.3 $194.3 $41.5 $43.4 $43.2 $41.9 $41.1 $155.1 $157.6 $154.0 $152.4 $153.1 21.1% 21.6% 21.9% 21.6% 21.2% Adj. Nonint. Inc. Net Interest Income Adj. Nonint. Inc./Op. Rev. 2025 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3 $ in millions Noninterest Income Detail 2025 Q3 YoY Change 2026 Q3 % of Total (Adj.) 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 -2 % $40,402 $ in thousands Adjusted Noninterest Income / Operating Revenue 3 Sources of Noninterest Income Diversified and Significant Sources of Noninterest Income 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. 21.2% 79.2% Wealth + Payments/Treasury Management + Capital Markets As a percentage of Total Noninterest Income 2 3Q26 Card Services line item includes $1.2 million of interchange fees from corporate credit cards that are managed by Treasury Management team Adjusted Noninterest Income As a percentage of Total Revenue 1 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.

143Q26 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE $17.4 $18.3 $19.5 $20.1 $20.0 $7.5 $8.5 $9.4 $9.9 $10.0 43.0% 46.6% 48.2% 49.0% 50.3% Revenue Pre-Tax Income ² Pre-Tax Profit Margin ² 2025 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3 $14,959 $15,657 $15,647 $16,506 $16,720 2025 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3 ▪ Strong growth in Assets Under Care (AUC) as net inflows have augmented market growth over the last twelve months 1 Wealth Management segment | 2 1Q26 wealth management pre-tax income is adjusted to exclude non-operating expenses $ in millions $ in millions Wealth Management 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 % $16.7 Billion Assets Under Care LTM Revenue 1$77.9 Million ▪ 3Q26 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 Wealth Revenue 1 and Pre-Tax Income 2Assets Under Care Integrated comprehensive capabilities to serve Personal & Institutional Clients ▪ 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 LTM PT Margin 248.5% 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 AUC is up $1.8 billion YoY, or 12%

153Q26 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE Wealth Management Comprehensive and Integrated Core Capabilities to Serve Personal and Institutional Clients 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 Proactive client engagement with a tailored, client- focused approach Flat nature of organization allows for access to decision-makers 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 Access to varied solutions providing optionality for specific client needs Comprehensive wealth platform covering all primary services 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 Large Advisory Firms Boutique Investment Firms Fully Internalized Investment Office Experienced & credentialed team using specialized research and analysis to develop adaptive, tax efficient investment strategies Uniquely positioned to combine the capabilities of larger advisory firms with the personalized approach of a boutique investment firm INVESTMENT MANAGEMENT FINANCIAL PLANNING TAX PLANNING & PREPARATION PRIVATE CLIENT TRUST SERVICES LEGACY PLANNING AG SERVICES HOUSEHOLD OPERATIONS Nearly 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 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

163Q26 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 60.2% 61.8% 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 $ in millions 2025 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3 Noninterest Expense $120.0 $120.3 $129.5 $112.6 $111.4 Acquisition & Restructuring Expenses (-) $7.2 $4.8 $16.7 $3.1 $1.1 Adjusted NIE 1 $112.8 $115.5 $112.8 $109.5 $110.3 Amortization of Intangibles (-) $4.5 $4.4 $4.3 $4.2 $4.2 Adjusted NIE excluding Amortization of Intangibles 1 $108.3 $111.1 $108.5 $105.3 $106.1 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 Noninterest Expense Focused Control on Expenses $ in millions 2026 Q2 QoQ Change 2026 Q3 % of Total Adj. Salaries & Benefits $65.6 +0.2% $65.7 59.6 % Data processing $8.9 +5.6% $9.4 8.5 % Occupancy & Equipment $10.2 +2.9% $10.5 9.5 % Professional fees $2.3 +8.7% $2.5 2.3 % Amort. of intangible assets $4.2 0.0% $4.2 3.8 % Other NIE $18.3 -1.6% $18.0 16.3 % Adjusted NIE 1 $109.5 +0.7% $110.3 100 % ▪ 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 Efficiency Ratio 1 Trend Adjusted Noninterest Expense Summary

173Q26 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 39% 37% 39% 37% 41% 63% 86% 151% 144% 155% Dividend Payout Ratio Payout Ratio with Dividends & Share Repurchases 2025 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3 —% 50% 100% 150% $1,908 $1,920 $1,880 $1,859 $1,836 12.3% 12.4% 12.3% 12.5% 12.5% 7.0% Common Equity Tier 1 CET1 Ratio Min + Buffer Ratio 2025 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3 $1,748 $1,773 $1,722 $1,697 $1,574 9.9% 10.1% 9.8% 9.6% 8.7% TCE TCE Ratio 2025 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3 Tangible Common Equity 1 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 $ in millions Common Equity Tier 1 Ratio Tier 1 Capital Ratio Total Capital Ratio Capital Ratio 12.5 % 14.0 % 16.1 % Minimum Well Capitalized with Capital Buffer 7.0 % 8.5 % 10.5 % Amount of Capital $1,836 $2,059 $2,372 Well Capitalized Minimum with Buffer $1,031 $1,252 $1,547 Excess over Well Cap. Min. with Buffer $805 $807 $825 $ in millions $ in millions Robust Capital Foundation Common Equity Tier 1 2 Consolidated Capital as of 9/30/26 2Adjusted Common Stock Payout Ratio 3 AOCI declined $101 million in 3Q26 vs. 2Q26, contributing to the majority of the decline in the TCE Ratio

Appendix

193Q26 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE Seasoned Leadership Team 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. Van A. Dukeman Chairman, President & CEO, First Busey Corp. Chairman & CEO, Busey Bank Tony Hammond President, Busey Bank 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. Amy L. Randolph Chief Operating Officer 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. Monica L. Bowe Chief Risk 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. Amy J. Fauss Chief Information & Technology 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. Chip Jorstad Chief Credit 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. Chris H.M. Chan Chief Financial Officer 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. Michael A. Peluso General Counsel 2026 Executive Compensation Performance-Based Measures Weighting Short-term incentives Operating EPS 40% Asset Quality vs. Proxy Peer Group 25% Fee Revenue from Wealth Mgmt., Payment Technology Solutions, Treasury Mgmt., and Capital Markets 20% Core Deposit Growth 10% Regulatory Ratings 5% Total 100% Long-term incentives Relative Total Shareholder Return vs. KRE constituents 50% Relative Operating ROAA vs. Proxy Peer Group 25% Relative TBV growth ex-AOCI plus cumulative dividends and share repurchases vs. Proxy Peer Group 25% Total 100% Executive compensation reinforces corporate priorities and is aligned with driving long-term shareholder value 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.

203Q26 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE Estimated accretion schedule of loan discounts based on anticipated cash flow. These projections include remaining purchase accounting impact from all prior M&A transactions. Purchase Accounting Projections ($ in thousands) Actuals Projections Accretion/Amortization Impact Item FY 2025 1Q26 2Q26 3Q26 4Q26 1Q27 2Q27 3Q27 4Q27 Thereafter 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 Amortization -16,614 -4,291 -4,232 -4,151 -4,082 -3,938 -3,878 -3,798 -3,728 -65,350 Total Pre-Tax Income Impact 4,287 1,103 -82 1,048 164 -508 -525 -495 -458 -14,897

213Q26 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE Non-GAAP Financial Information 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.

223Q26 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE Non-GAAP Financial Information (Unaudited) Calculation of Adjusted Net Income and Adjusted Diluted Earnings Per Common Share Three Months Ended Nine Months Ended (dollars in thousands, except per share amounts) September 30, 2026 June 30, 2026 September 30, 2025 September 30, 2026 September 30, 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 ___________________________________________ 1. 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. 2. 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. 3. 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. 4. 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.

233Q26 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE Non-GAAP Financial Information (Unaudited) ___________________________________________ 1. 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. 2. A reconciliation is provided on the previous table. 3. Annualized measure. 4. 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 Return On Average Assets, Return On Average Tangible Common Equity, and Related Adjusted Return Measures Three Months Ended Nine Months Ended (dollars in thousands) September 30, 2026 June 30, 2026 September 30, 2025 September 30, 2026 September 30, 2025 Net income (GAAP) [a] $ 55,845 $ 63,176 $ 57,098 $ 169,002 $ 74,512 Amortization of intangible assets 4,151 4,232 4,507 12,674 12,182 Tax effect of amortization of intangible assets1 (1,038) (1,058) (1,210) (3,169) (3,245) Preferred dividends (4,589) (4,590) (5,131) (13,768) (5,286) Tangible net income available to common stockholders (Non-GAAP) [b] $ 54,369 $ 61,760 $ 55,264 $ 164,739 $ 78,163 Adjusted net income (Non-GAAP)2 [c] $ 57,198 $ 63,687 $ 62,496 $ 184,096 $ 159,788 Amortization of intangible assets 4,151 4,232 4,507 12,674 12,182 Tax effect of amortization of intangible assets1 (1,038) (1,058) (1,210) (3,169) (3,245) Preferred dividends (4,589) (4,590) (5,131) (13,768) (5,286) Adjusted tangible net income available to common stockholders (Non-GAAP) [d] $ 55,722 $ 62,271 $ 60,662 $ 179,833 $ 163,439 Average total assets [e] $ 18,470,939 $ 17,887,097 $ 18,662,449 $ 18,140,923 $ 17,534,644 Return on average assets (Non-GAAP)3 [a÷e] 1.20 % 1.42 % 1.21 % 1.25 % 0.57 % Adjusted return on average assets (Non-GAAP)3 [c÷e] 1.23 % 1.43 % 1.33 % 1.36 % 1.22 % Average common equity $ 2,138,564 $ 2,183,290 $ 2,210,711 $ 2,191,883 $ 2,109,046 Average goodwill and other intangible assets, net (469,792) (474,043) (486,625) (474,207) (464,316) Average tangible common equity (Non-GAAP) [f] $ 1,668,772 $ 1,709,247 $ 1,724,086 $ 1,717,676 $ 1,644,730 Return on average tangible common equity (Non-GAAP)3, 4 [b÷f] 12.93 % 14.49 % 12.72 % 12.82 % 6.35 % Adjusted return on average tangible common equity (Non-GAAP)3, 4 [d÷f] 13.25 % 14.61 % 13.96 % 14.00 % 13.29 %

243Q26 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE Non-GAAP Financial Information (Unaudited) Calculation of Net Interest Margin and Adjusted Net Interest Margin Three Months Ended Nine Months Ended (dollars in thousands) September 30, 2026 June 30, 2026 September 30, 2025 September 30, 2026 September 30, 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 % ___________________________________________ 1. Tax-equivalent adjustments were calculated using an estimated federal income tax rate of 21%, applied to non-taxable interest income on investments and loans. 2. Annualized measure. ___________________________________________ 1. Annualized measure. Calculation of Pre-Provision Net Revenue and Related Measures Three Months Ended Nine Months Ended (dollars in thousands) September 30, 2026 June 30, 2026 September 30, 2025 September 30, 2026 September 30, 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 %

253Q26 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE Non-GAAP Financial Information (Unaudited) ___________________________________________ 1. Tax-equivalent adjustments were calculated using an estimated federal income tax rate of 21%, applied to non-taxable interest income on investments and loans. 2. 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. 3. 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. 4. 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. 5. Beginning in 2026, Busey now reports a single efficiency ratio, which was previously reported as the “Adjusted efficiency ratio.” Calculation of Efficiency Ratio Three Months Ended Nine Months Ended (dollars in thousands) September 30, 2026 June 30, 2026 September 30, 2025 September 30, 2026 September 30, 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 (Non-GAAP) [c÷d] 21.16 % 21.55 % 21.12 % 21.54 % 22.17 % Total noninterest expense (GAAP) $ 111,398 $ 112,635 $ 120,018 $ 353,552 $ 359,881 Acquisition and restructuring expenses, excluding 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 %

263Q26 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE Non-GAAP Financial Information (Unaudited) Calculation of Tangible Common Equity, and Related Measures and Ratio As of (dollars in thousands, except per share amounts) September 30, 2026 June 30, 2026 September 30, 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 (dollars in thousands) September 30, 2026 June 30, 2026 September 30, 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 %

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