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. (MSBI) provides comprehensive financial services through its community-focused banking and wealth management operations. This news hub offers investors and stakeholders centralized access to verified updates about this Illinois-based institution.
Track official press releases, financial disclosures, and strategic developments including commercial lending initiatives, wealth management expansions, and equipment financing programs. Our curated collection ensures timely updates on earnings reports, leadership changes, and regulatory filings while maintaining strict editorial standards.
Key coverage areas include MSBI's core banking services, risk management strategies, and community development efforts. Users benefit from direct access to primary source materials without promotional commentary, supporting informed financial decision-making.
Bookmark this page for efficient monitoring of MSBI's operational milestones and market positioning within the Midwest banking sector. Combine regular visits with professional financial advice for complete investment research.
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.
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