Summary of information relating to operating segments |
Following is a summary of selected financial information for the Company’s operating segments. The “other” category included in the tables below consists of the parent company, First Busey Risk Management, and the elimination of intercompany transactions (dollars in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | Goodwill | | Total Assets | | As of | | As of | | March 31, 2023 | | December 31, 2022 | | March 31, 2023 | | December 31, 2022 | Operating segment | | | | | | | | Banking | $ | 294,773 | | | $ | 294,773 | | | $ | 12,206,562 | | | $ | 12,199,960 | | FirsTech | 8,992 | | | 8,992 | | | 47,750 | | | 48,715 | | Wealth Management | 14,108 | | | 14,108 | | | 87,878 | | | 84,082 | | Other | — | | | — | | | 2,365 | | | 3,920 | | Consolidated total | $ | 317,873 | | | $ | 317,873 | | | $ | 12,344,555 | | | $ | 12,336,677 | |
| | | | | | | | | | | | | | | | | | | Three Months Ended March 31, | | | | | | 2023 | | 2022 | Net interest income | | | | | | | | Banking | | | | | $ | 89,890 | | | $ | 73,832 | | FirsTech | | | | | 13 | | | 18 | | | | | | | | | | Other | | | | | (4,046) | | | (3,794) | | Total net interest income | | | | | $ | 85,857 | | | $ | 70,056 | | | | | | | | | | Noninterest income | | | | | | | | Banking | | | | | $ | 12,421 | | | $ | 15,286 | | FirsTech | | | | | 5,674 | | | 5,419 | | Wealth Management | | | | | 14,926 | | | 15,776 | | Other | | | | | (1,173) | | | (709) | | Total noninterest income | | | | | $ | 31,848 | | | $ | 35,772 | | | | | | | | | | Noninterest expense | | | | | | | | Banking | | | | | $ | 54,651 | | | $ | 55,567 | | FirsTech | | | | | 5,739 | | | 4,683 | | Wealth Management | | | | | 8,534 | | | 8,265 | | Other | | | | | 1,479 | | | 1,861 | | Total noninterest expense | | | | | $ | 70,403 | | | $ | 70,376 | | | | | | | | | | Income before income taxes | | | | | | | | Banking | | | | | $ | 46,707 | | | $ | 33,804 | | FirsTech | | | | | (52) | | | 754 | | Wealth Management | | | | | 6,392 | | | 7,511 | | Other | | | | | (6,698) | | | (6,364) | | Total income before income taxes | | | | | $ | 46,349 | | | $ | 35,705 | | | | | | | | | | Net income | | | | | | | | Banking | | | | | $ | 36,835 | | | $ | 26,451 | | FirsTech | | | | | (38) | | | 550 | | Wealth Management | | | | | 4,858 | | | 5,840 | | Other | | | | | (4,869) | | | (4,402) | | Total net income | | | | | $ | 36,786 | | | $ | 28,439 | |
|