Midland States Stock Price, News & Analysis

Midland States Bancorp, Inc. (NASDAQ: MSBI) will release its first quarter 2023 financial results on April 27, 2023, after market close. An investor presentation will accompany the press release and be available on the company's investor relations website. The company has ceased holding quarterly conference calls, focusing instead on written communications for stakeholders. As of December 31, 2022, Midland States Bancorp held total assets of approximately $7.86 billion, with its Wealth Management Group managing assets under administration of about $3.50 billion. For more details, visit the company's website.

Synctera, a Banking as a Service (BaaS) company, has announced a strategic partnership with National Bank of Canada and a $15 million investment led by NAventures. This investment will allow Synctera to expand its BaaS platform into Canada, catering to the increasing demand for innovative financial products. Since 2020, Synctera has facilitated the creation of FinTech applications and services in the U.S., and aims to provide similar capabilities in Canada. The partnership is expected to enhance Synctera's capabilities and foster collaborations with FinTechs, ultimately supporting the growing need for financial innovation.

Midland States Bancorp (NASDAQ: MSBI) has declared a quarterly cash dividend of $0.30 per share, marking a 3.4% increase from the previous $0.29 dividend. This announcement on February 7, 2023, signifies the 23rd consecutive year of dividend increases. The dividend is scheduled for payment on February 24, 2023, to shareholders of record as of February 17, 2023. Additionally, a cash dividend of $0.4844 per depository share on its 7.750% preferred stock will be paid on March 30, 2023. CEO Jeffrey G. Ludwig expressed confidence in the company's strong financial performance, allowing for enhanced shareholder returns.

Midland States Bancorp (MSBI) reported a net income of $29.7 million ($1.30 per diluted share) for Q4 2022, up from $23.5 million in Q3 2022. The annualized total loan growth reached 7.0%.

Noninterest income included a $17.5 million gain from interest rate swap terminations. However, net interest income slightly decreased by 0.7% to $63.6 million due to rising deposit costs. Noninterest expense rose 14.8% to $49.9 million.

The company maintains strong capital ratios and anticipates a conservative approach to loan growth in 2023 due to economic uncertainties, although it aims for robust financial performance.

Midland States Bancorp (MSBI) will release its fourth quarter 2022 financial results after market close on January 26, 2023. A conference call and webcast for analysts and investors will be held on January 27, 2023, at 7:30 a.m. Central Time to discuss these results. Participants can register for the call through the provided link to receive dial-in details. Midland States Bancorp is a community-based financial institution with total assets of approximately $7.81 billion as of September 30, 2022, offering a variety of banking and financial services.

Midland States Bancorp, Inc. (NASDAQ: MSBI) has authorized a new stock repurchase program to buy back up to $25 million of its common stock, effective January 1, 2023, and expiring December 31, 2023. The current program, which runs until the end of 2022, has $18.6 million remaining. CEO Jeffrey G. Ludwig emphasized the importance of this program for long-term shareholder value while remaining flexible in capital allocation. Stock repurchases will depend on market conditions and can be executed in various ways, with the program potentially being suspended anytime.

Midland States Bancorp, Inc. (NASDAQ: MSBI) declared a quarterly cash dividend of $0.29 per share, payable on November 21, 2022 to shareholders of record by November 14, 2022. Additionally, a cash dividend of $27.56 per share on its 7.750% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A, or $0.689 per depositary share, will be paid on December 30, 2022 for record holders by December 15, 2022. Midland reported total assets of approximately $7.81 billion as of September 30, 2022.

Midland States Bancorp reported a net income of $23.5 million ($1.04 EPS) for Q3 2022, showing growth from $21.9 million in Q2 2022 and $19.5 million in Q3 2021. Total loans increased by 27.8% annualized, reaching $6.2 billion. Nonperforming assets declined by 14.2%. The net interest margin slightly decreased to 3.63% from 3.65%, but increased from 3.34% year-over-year. The company raised $115 million in a preferred stock offering, enhancing its capital position.

Midland States Bancorp, Inc. (NASDAQ: MSBI) will release its Q3 2022 financial results post-market on October 20, 2022. A conference call is scheduled for October 21, 2022, at 7:30 a.m. CT, where analysts and investors can engage in a Q&A session. Participants must register to obtain a dial-in number and personalized PIN. Midland, headquartered in Effingham, Illinois, boasts total assets of approximately $7.44 billion and $3.60 billion in assets under administration in its Wealth Management Group.