Welcome to our dedicated page for Midland States news (Ticker: MSBI), a resource for investors and traders seeking the latest updates and insights on Midland States stock.
Midland States Bancorp, Inc. (NASDAQ: MSBI) is a community-based financial holding company headquartered in Effingham, Illinois and the sole shareholder of Midland States Bank. This news page aggregates company-issued updates and market coverage related to Midland States Bancorp’s commercial banking, wealth management, capital actions, and regulatory disclosures.
Readers can find earnings announcements, including quarterly financial results where the company discusses net income, net interest margin, noninterest income and expense, asset quality metrics, and capital ratios. These releases often include management commentary on credit trends, loan portfolio changes, deposit mix, and strategic priorities such as growing the community bank and wealth management platform.
News items also cover corporate actions such as common and preferred stock dividend declarations, stock repurchase program authorizations, and balance sheet initiatives. For example, Midland States Bancorp has reported the redemption of subordinated notes, the sale of non-core loan portfolios, and the sale of substantially all of its equipment finance portfolio to an affiliate of North Mill Equipment Finance LLC, along with decisions to cease originations in that portfolio.
Regulatory and governance developments appear in the feed through summaries of Form 8-K filings and related press releases. These include notices regarding delayed SEC filings, Nasdaq listing rule deficiency notifications, annual meeting results, and changes in senior leadership roles. Investors can also see announcements of upcoming earnings release dates and the availability of investor presentations.
By following this page, users can review Midland States Bancorp’s historical and ongoing disclosures on financial performance, credit quality, capital management, and governance matters in one place, using the underlying articles to track how the company communicates its strategy and risk profile over time.
Midland States Bancorp (NASDAQ: MSBI) announced the sale of its commercial FHA origination platform via its Love Funding subsidiary to Dwight Capital. This strategic move aims to enhance efficiency and reduce earnings volatility. Midland will maintain servicing of Love Funding's $3.9 billion portfolio, including $284 million in low-cost deposits, ensuring continued income and lower operating expenses. The sale price approximates the remaining goodwill from the 2014 acquisition, resulting in no immediate gain or loss for the company.
Midland States Bancorp (NASDAQ: MSBI) announced a quarterly cash dividend of $0.2675 per share, payable on or about August 21, 2020. This payment is for shareholders on record as of the close of business on August 14, 2020. As of June 30, 2020, Midland had total assets of approximately $6.64 billion and its Wealth Management Group had approximately $3.25 billion in assets under administration. The company offers a full range of financial services, including banking, investment management, and FHA financing through its subsidiary, Love Funding.
Midland States Bancorp reported a net income of $12.6 million, or $0.53 diluted earnings per share, for Q2 2020, a notable increase from $1.5 million, or $0.06 per share, in Q1 2020. Total loans rose 10.6% to $4.84 billion, while deposits increased 6.3% to $4.94 billion. The efficiency ratio improved to 58.5%. A key highlight was a provision for credit losses of $11.6 million due to an uncertain economic outlook. The bank's capital ratios exceeded regulatory requirements, and a stock repurchase program is ongoing with $18.3 million remaining.