As of December 31, 2022, First Busey Corporation (Nasdaq: BUSE) was a $12.34 billion financial holding company headquartered in Champaign, Illinois.
Busey Bank, a wholly-owned bank subsidiary of First Busey Corporation, had total assets of $12.30 billion as of December 31, 2022, and is headquartered in Champaign, Illinois. Busey Bank currently has 46 banking centers serving Illinois, eight banking centers serving Missouri, three banking centers serving southwest Florida, and one banking center in Indianapolis, Indiana.
Busey Bank's wholly-owned subsidiary, FirsTech, is a payments platform specializing in the evolving financial technology needs of small and medium-sized businesses, highly regulated enterprise industries, and financial institutions. With associates across the United States, FirsTech provides comprehensive and innovative payment technology solutions that enable businesses to connect with their customers in a multitude of ways on a single, highly configurable, secure platform. Fast, secure payment modes include, but are not limited to, text-based payments; electronic payments concentration delivered to Automated Clearing House networks; internet voice recognition ("IVR"); credit cards; in-store payments for customers at retail pay agents; direct debit services; and lockbox remittance processing for customers to make payments by mail. Once these payments are processed through integration with our customers' financial systems, FirsTech provides its customers with reconciliation and settlement services to ensure payment confirmation. Additionally, FirsTech provides consulting and technology services through its Professional Services Division, assisting clients in identifying and implementing payment technologies to meet their evolving needs. In 2022, FirsTech started a phased launch of its innovative BaaS platform, helping community banks and their commercial customers build modernized payment solutions, which include online payment technologies and automated file transfers. More information about FirsTech can be found at firstechpayments.com.
Through the Company's Wealth Management division, the Company provides asset management, investment, and fiduciary services to individuals, businesses, and foundations. As of December 31, 2022, assets under care were $11.06 billion.
Busey Bank has been named among America's Best Banks for 2022, a first-ever recognition by Forbes magazine. Ranked 52nd overall, Busey was the top-ranked bank headquartered in Illinois; only three other Illinois-based banks were included on the list. Additionally, for the first time in 2022, Busey was named a Leading Disability Employer by the National Organization on Disability—this highly selective award is presented only to top performing companies demonstrating positive outcomes in recruiting, hiring, retaining and advancing people with disabilities in their workforce. We are honored to be consistently recognized nationally and locally for our engaged culture of integrity and commitment to community development.
For more information about us, visit busey.com.
Special Note Concerning Forward-Looking Statements
Statements made in this report, other than those concerning historical financial
information, may be considered forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995 with respect to the financial
condition, results of operations, plans, objectives, future performance and business
of the Company. Forward-looking statements, which may be based upon beliefs, expectations
and assumptions of the Company'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" or other similar expressions. Additionally, all statements in this document,
including forward-looking statements, speak only as of the date they are made, and
we undertake no obligation to update any statement in light of new information or
future events. A number of factors, many of which are beyond our ability to control
or predict, could cause actual results to differ materially from those in our forward-looking
statements. These factors include, among others, the following: (i) the strength
of the local, state, national and international economy (including the impact of
tariffs, a U.S. withdrawal from or significant negotiation of trade agreements,
trade wars and other changes in trade regulations); (ii) the economic impact of
any future terrorist threats or attacks; (iii) changes in state and federal laws,
regulations and governmental policies concerning the Company's general business;
(iv) changes in interest rates and prepayment rates of the Company's assets; (v)
increased competition in the financial services sector and the inability to attract
new customers; (vi) changes in technology and the ability to develop and maintain
secure and reliable electronic systems; (vii) the loss of key executives or employees;
(viii) changes in consumer spending; (ix) unexpected results of current and/or future
acquisitions, which may include failure to realize the anticipated benefits of the
acquisition and the possibility that the transaction costs may be greater than anticipated;
(x) unexpected outcomes of existing or new litigation involving the Company; (xi)
changes in accounting policies and practices; and (xii) the economic impact of exceptional
weather occurrences such as tornadoes, hurricanes, floods, and blizzards. 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 the Company and its business, including additional factors that could
materially affect its financial results, is included in the Company's filings with
the Securities and Exchange Commission.
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