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. operates as a diversified financial holding company whose banking subsidiary provides commercial and consumer banking services, commercial real estate and mortgage lending, and wealth management services including trust, fiduciary, brokerage and retirement planning.
Company announcements commonly address quarterly operating results, net interest margin and loan growth, credit quality, non-performing assets, portfolio sales and balance-sheet risk reduction. Other recurring developments include common and preferred stock dividends, stock repurchase authorizations, board and executive changes, institutional ownership, and capital management actions.
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.