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 (NASDAQ: MSBI) has announced quarterly dividends for both its common and preferred stock. The Board of Directors declared a $0.31 per share cash dividend on common stock, payable on August 23, 2024, to shareholders of record as of August 16, 2024. Additionally, a $0.4844 per depository share cash dividend was declared on the company's 7.75% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A, payable on September 30, 2024, to stockholders of record as of September 16, 2024. This announcement demonstrates MSBI's commitment to providing returns to its shareholders through regular dividend payments.
Midland States Bancorp (Nasdaq: MSBI) announced its 2024 Q2 results, reporting a net income available to common shareholders of $4.5 million ($0.20 per diluted share), down from $11.7 million ($0.53 per share) in Q1 2024 and $19.3 million ($0.86 per share) in Q2 2023.
Tangible book value per share decreased to $23.36. The common equity tier 1 capital ratio improved slightly to 8.63%. However, the net interest margin declined to 3.12% from 3.18% in the previous quarter.
Provision expenses soared to $16.8 million due to issues with fintech partner LendingPoint. Non-performing loans increased to $112.1 million, from $105 million in Q1 2024. Efficiency ratio worsened significantly to 65.2% from 58.0%.
Total deposits and loans declined, with total assets at $7.76 billion.
Transend, a B2B private-label working capital solution provider, has partnered with Midland States Bank (NASDAQ: MSBI) to launch an innovative financing approach. This collaboration aims to offer dynamic payment solutions that enable suppliers to provide instant access to working capital at the point of commerce.
The partnership between Transend and Midland States Bank is designed to help suppliers drive loyalty, increase sales, and accelerate accounts receivable with their commercial customers. Both companies share a partner-centric vision and are committed to setting new standards for responsible collaboration between banks and FinTechs in the commercial financing space.
Midland States Bancorp (NASDAQ: MSBI) announced plans to release its second quarter 2024 financial results on July 25, 2024, after market close. The company will also publish an investor presentation on its investor relations website. This announcement is significant for investors tracking the financial health and performance of Midland States Bancorp, as it provides insights into the company’s quarterly earnings, revenue, and other key financial metrics.
Midland States Bancorp, Inc. has appointed Travis Franklin to its Board of Directors, effective May 7, 2024. Mr. Franklin, currently serving as the Executive Vice President and CFO of Heartland Dental, , brings a wealth of experience in finance and operations. His addition to the board is seen as a positive move to leverage his expertise in managing a rapidly growing company.
Midland States Bancorp, Inc. (NASDAQ: MSBI) declared a quarterly cash dividend of $0.31 per share for common stock and $0.4844 per depository share for preferred stock. The dividends are payable in May and July 2024, respectively.
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