Reportable Segments and Related Information

9 Months Ended

Sep. 30, 2012

Reportable Segments and Related Information

Reportable Segments and Related Information

Note 10:  Reportable Segments and Related Information

The Company has three reportable segments, Busey Bank, FirsTech and Busey Wealth Management.  Busey Bank provides a full range of banking services to individual and corporate customers through its branch network in downstate Illinois, through its branch in Indianapolis, Indiana, and through its branch network in southwest Florida.  FirsTech provides remittance processing for online bill payments, lockbox and walk-in payments.  Busey Wealth Management is the parent company of Busey Trust Company, which provides a full range of asset management, investment and fiduciary services to individuals, businesses and foundations, tax preparation and philanthropic advisory services.

The Company’s three reportable segments are strategic business units that are separately managed as they offer different products and services and have different marketing strategies.

The segment financial information provided below has been derived from the internal accounting system used by management to monitor and manage the financial performance of the Company.  The accounting policies of the three segments are the same as those described in the summary of significant accounting policies in the Company’s Annual Report on Form 10-K for the year ended December 31, 2011.

Following is a summary of selected financial information for the Company’s business segments:

	Goodwill				Total Assets
	September 30,		December 31,		September 30,		December 31,
	2012		2011		2012		2011
	(dollars in thousands)				(dollars in thousands)
Goodwill & Total Assets:
Busey Bank	$	—	$	—	$	3,467,651	$	3,331,869
FirsTech	8,992		8,992		26,091		25,542
Busey Wealth Management	11,694		11,694		26,143		25,867
All Other	—		—		9,779		18,844
Total	$	20,686	$	20,686	$	3,529,664	$	3,402,122

	Three Months Ended September 30,						Nine Months Ended September 30,
	2012			2011			2012			2011
	(dollars in thousands)						(dollars in thousands)
Interest income:
Busey Bank	$	28,935		$	32,711		$	88,093		$	101,361
FirsTech	15			19			48			48
Busey Wealth Management	62			69			192			190
All Other	(1		)	12			(1		)	(9		)
Total interest income	$	29,011		$	32,811		$	88,332		$	101,590
Interest expense:
Busey Bank	$	3,138		$	4,783		$	10,828		$	16,080
FirsTech	—			—			—			—
Busey Wealth Management	—			—			—			—
All Other	328			301			987			1,595
Total interest expense	$	3,466		$	5,084		$	11,815		$	17,675
Other income:
Busey Bank	$	9,850		$	9,270		$	29,592		$	27,709
FirsTech	2,094			2,356			6,418			7,189
Busey Wealth Management	4,061			3,676			12,332			11,198
All Other	(416		)	(584		)	897			(2,093		)
Total other income	$	15,589		$	14,718		$	49,239		$	44,003
Net income:
Busey Bank	$	4,642		$	7,068		$	14,859		$	22,984
FirsTech	237			381			746			1,253
Busey Wealth Management	780			749			2,647			2,417
All Other	(750		)	(628		)	(812		)	(2,527		)
Total net income	$	4,909		$	7,570		$	17,440		$	24,127