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) has priced an underwritten public offering of 4,600,000 depositary shares, each representing a 1/40th interest in a 7.75% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A. The offering, expected to close around August 24, 2022, supports general corporate purposes, including organic growth, strategic acquisitions, and share repurchases. The depositary shares will be listed on The Nasdaq Global Select Market under the symbol “MSBIP.” Financial backers include Keefe, Bruyette & Woods and Raymond James & Associates.
On August 9, 2022, Midland States Bancorp, Inc. (NASDAQ: MSBI) announced a quarterly cash dividend of $0.29 per share. This dividend is set to be paid on or about August 26, 2022, to shareholders of record as of August 19, 2022. As of June 30, 2022, Midland had total assets of approximately $7.44 billion and its Wealth Management Group managed about $3.60 billion in assets. Midland offers a comprehensive range of banking products and services, enhancing its financial appeal to investors.
Midland States Bancorp reported a net income of $21.9 million or $0.97 diluted earnings per share for Q2 2022, reflecting a rise from $20.7 million in Q1 2022 and $20.1 million in Q2 2021. Total loans surged 18.5% annualized from the prior quarter, while net interest margin improved to 3.65%. The efficiency ratio also enhanced to 53.10%. Despite a strong loan pipeline, growth is expected to moderate in H2 due to rising rates and economic concerns. Noninterest income fell by 6.4% from the prior quarter, primarily due to lower wealth management revenue.
Midland States Bancorp (NASDAQ: MSBI) announced its plans to release second quarter 2022 financial results on July 28, 2022, after market close. A conference call and webcast will be held on July 29, 2022, at 7:30 a.m. CT to discuss these results. The call will feature a question-and-answer session for analysts and investors. Participants must register to access the call and receive a unique dial-in number and PIN. The company, headquartered in Effingham, Illinois, manages total assets of approximately $7.34 billion as of March 31, 2022.
Midland States Bancorp (NASDAQ: MSBI) announced its acquisition of FNBC Bank and Trust's branches in Mokena and Yorkville, Illinois, completing a branch purchase and assumption of around $83 million in deposits and $17 million in loans. The Mokena branch will continue operations, while FNBC's Yorkville branch has closed. This transaction is anticipated to be slightly accretive to earnings. CEO Jeffrey G. Ludwig highlighted the deal as instrumental for expanding business in the greater Chicago area, enhancing their market presence and customer offerings.
Midland States Bancorp (NASDAQ: MSBI) has appointed Sherina Maye Edwards to its Board of Directors, expanding the board to 11 members. Edwards, currently the Chief Strategy Officer at MasTec, brings significant experience in the utility and energy sector and previously served as President and CEO of INTREN. Her leadership in a regulated industry and expertise are expected to enhance the strategic direction of the bank. The board now comprises 10 independent directors, reflecting a strong governance structure.
Midland States Bancorp, Inc. (NASDAQ: MSBI) has declared a quarterly cash dividend of $0.29 per share, set to be paid on or about May 23, 2022. Shareholders of record as of May 13, 2022 will be eligible. As of March 31, 2022, the company reported total assets of approximately $7.34 billion and $4.04 billion in its Wealth Management Group.
Midland provides various banking products and services, including commercial and consumer banking, and wealth management solutions.
Midland States Bancorp (NASDAQ: MSBI) announced a partnership with LendingPoint, an AI-driven CreditTech platform, to fund consumer loans. This collaboration aims to leverage LendingPoint's retail network, with projected outstanding loan balances expected to reach $200-$250 million within a few years. CEO Jeffrey G. Ludwig emphasized the importance of fintech partnerships for growth and diversification, highlighting their commitment to high-quality asset generation.
Midland States Bancorp reported a net income of $20.7 million, or $0.92 diluted earnings per share, for Q1 2022, down from $23.1 million in Q4 2021. Total loans grew by 24.1% annualized to $5.54 billion, with a net interest income increase of 4.7% to $56.8 million. The net interest margin improved to 3.50%. Noninterest income fell by 30.7% to $15.6 million, while noninterest expenses decreased to $40.9 million. Despite challenges, the company is optimistic about continued growth in its loan portfolio and profitability.
Midland States Bancorp (NASDAQ: MSBI) announced a strategic partnership with Synctera to enhance its Banking-as-a-Service (BaaS) offerings. This collaboration aims to develop fintech partnerships, focusing on attracting low-cost deposits and expanding customer usage of payment solutions. CEO Jeffrey G. Ludwig emphasized leveraging past fintech experiences to boost earnings through disciplined growth in the BaaS space. Synctera's CEO highlighted Midland's technological capabilities, believing this initiative will increase the relevance of community banks and provide a competitive edge.
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