Midland States Bancorp, Inc. Increases Stock Repurchase Program to $45 Million

Midland States Bancorp (Nasdaq: MSBI) increased its stock repurchase authorization from $25 million to $45 million and extended the program through December 31, 2026.

Rhea-AI Summary

Midland States Bancorp (Nasdaq: MSBI) increased its stock repurchase authorization from $25 million to $45 million and extended the program through December 31, 2026. To date the company repurchased 923,837 shares at an average price of $21.46 for a total of $19.8 million. Repurchases may occur on the open market, in privately negotiated transactions, or otherwise in compliance with securities laws and may be suspended or discontinued at any time.

Positive

• Authorization increased to $45 million for stock repurchases
• Repurchased 923,837 shares totaling $19.8 million to date
• Program extended through December 31, 2026

Negative

• Repurchases may be suspended or discontinued at any time without notice

Argus May 6 session

+2.62% close to close Open Argus

Details

News Market Reaction – MSBI

In the May 6 session, MSBI gained 2.62%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement expands Midland States Bancorp’s stock repurchase authorization from $25 million t...

Analysis

This announcement expands Midland States Bancorp’s stock repurchase authorization from $25 million to $45 million and extends the program to December 31, 2026, after repurchasing 923,837 shares at an average of $21.46. In context of recent improved earnings and prior capital actions, it reinforces management’s stated confidence in capital strength and profitability. Investors may watch future repurchase pacing, capital ratios, and earnings trends to gauge how consistently this strategy is executed.

Key Figures

Repurchase authorization: $45 million Prior authorization: $25 million Repurchased shares: 923,837 shares +5 more

Repurchase authorization

$45 million

Total common stock authorized for repurchase under amended program

Prior authorization

$25 million

Original stock repurchase program amount

Repurchased shares

923,837 shares

Total repurchased to date under current program

Average repurchase price

$21.46

Average price paid per share in current program

Total invested in buybacks

$19.8 million

Aggregate spend under current repurchase program to date

Program expiration date

December 31, 2026

Amended stock repurchase program end date

Program start date

November 3, 2025

Initial authorization date of current repurchase program

Current share price

$27.08

Price before buyback amendment announcement

Previous Buybacks Reports

1 past event · Latest: Nov 03

Same Type 1 event

1. Nov 03

   Stock buyback authorization

   24h Move

   +1.4%

   Board authorized new $25M stock repurchase program with flexible execution.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

stock repurchase program, common stock, open market, privately negotiated transactions, +1 more

5 terms

stock repurchase program financial

"approved an amendment to the Company’s current stock repurchase program that increases"

A stock repurchase program is when a company buys back its own shares from the market. This can make each remaining share more valuable and shows that the company believes its stock is a good investment. It’s like a business treating its shares like a limited resource, hoping to boost confidence and share prices.

common stock financial

"increases the amount of common stock authorized for repurchase from $25 million"

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

open market financial

"may be made from time to time on the open market, in privately negotiated transactions"

An open market is a system where buying and selling of goods, services, or financial assets happen freely without restrictions or special controls. For investors, it means they can trade assets easily and quickly, which helps determine fair prices based on supply and demand. This environment encourages transparency and competition, making it easier to buy or sell with confidence.

privately negotiated transactions financial

"on the open market, in privately negotiated transactions, or in any other manner"

Privately negotiated transactions are deals made directly between parties without involving a public marketplace or open auction. They are like private sales between two individuals rather than items sold at a busy marketplace open to everyone. For investors, these transactions can offer more tailored terms and privacy, but they may also carry different risks and less transparency compared to public exchanges.

securities laws regulatory

"in any other manner that complies with applicable securities laws, at the discretion"

Securities laws are the rules and enforcement systems that govern the buying, selling and disclosure of stocks, bonds and other investment products; think of them as the traffic laws for financial markets that set what must be disclosed, forbid fraud and require fair dealing. They matter to investors because they help ensure companies provide accurate information, reduce the risk of deception or insider advantage, and make it easier to compare investments and seek remedies if something goes wrong.

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

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EFFINGHAM, Ill., May 05, 2026 (GLOBE NEWSWIRE) -- Midland States Bancorp, Inc. (Nasdaq: MSBI) announced today that its Board of Directors has approved an amendment to the Company’s current stock repurchase program that increases the amount of common stock authorized for repurchase from $25 million to $45 million and extends the expiration date of the program to December 31, 2026. To date, the Company has repurchased 923,837 shares of its common stock at an average price of $21.46 for a total investment of $19.8 million under the stock repurchase program that was initially authorized on November 3, 2025.  

Jeffrey G. Ludwig, President and Chief Executive Officer of the Company, said “The decision to increase our share repurchase authorization reflects our sustained confidence in the Company’s capital strength, credit profile and long-term profitability outlook. We continue to view our shares as a compelling investment and believe this action reinforces our consistent and disciplined capital management strategy.”

Stock repurchases under the amended program may be made from time to time on the open market, in privately negotiated transactions, or in any other manner that complies with applicable securities laws, at the discretion of the Company. The program will be in effect until December 31, 2026, with the timing of purchases and the number of shares repurchased under the program dependent upon a variety of factors including price, trading volume, corporate and regulatory requirements and market conditions. The repurchase program may be suspended or discontinued at any time without notice.

About Midland States Bancorp, Inc.

Midland States Bancorp, Inc. is a community-based financial holding company headquartered in Effingham, Illinois, and is the sole shareholder of Midland States Bank. As of March 31, 2026, the Company had total assets of approximately $6.55 billion, and its Wealth Management Group had assets under administration of approximately $4.47 billion. The Company provides a full range of commercial and consumer banking products and services, merchant credit card services, trust and investment management, insurance and financial planning services. For additional information, visit https://www.midlandsb.com/ or https://www.linkedin.com/company/midland-states-bank.

Forward-Looking Statements

Readers should note that in addition to the historical information contained herein, this press release includes "forward-looking statements" within the meanings 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, including but not limited to statements about the Company’s financing and use of proceeds from the notes offering. These statements are subject to many risks and uncertainties, including changes in interest rates and other general economic, business and political conditions, including changes in the financial markets; changes in business plans as circumstances warrant; risks relating to acquisitions; and other risks detailed from time to time in filings made by the Company with the Securities and Exchange Commission. Readers should note that the forward-looking statements included in this press release are not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "will," "propose," "may," "plan," "seek," "expect," "intend," "estimate," "anticipate," "believe" or "continue," or similar terminology. Any forward-looking statements presented herein are made only as of the date of this press release, and the Company does not undertake any obligation to update or revise any forward-looking statements to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.

CONTACTS:
Claire A. Stack, Interim Chief Financial Officer, at cstack@midlandsb.com or (217) 342-7321

FAQ

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

What change did Midland States Bancorp (MSBI) make to its stock repurchase program on May 5, 2026?

The company increased the repurchase authorization from $25 million to $45 million. According to the company, the amended program also extends the expiration date to December 31, 2026 and allows purchases on the open market or via negotiated transactions.

How many shares has MSBI repurchased so far and at what cost under the program?

MSBI has repurchased 923,837 shares at an average price of $21.46. According to the company, those repurchases represent a total investment of $19.8 million under the program authorized November 3, 2025.

Until when is Midland States Bancorp's (MSBI) amended buyback program effective?

The amended program is effective through December 31, 2026. According to the company, timing and number of purchases will depend on price, volume, regulatory requirements and market conditions.

How will MSBI execute repurchases under the amended $45 million program?

Repurchases may occur on the open market or in privately negotiated transactions. According to the company, purchases will comply with applicable securities laws and are at the company's discretion.