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. (NASDAQ: MSBI) is a community-based financial holding company headquartered in Effingham, Illinois and the sole shareholder of Midland States Bank. This news page aggregates company-issued updates and market coverage related to Midland States Bancorp’s commercial banking, wealth management, capital actions, and regulatory disclosures.
Readers can find earnings announcements, including quarterly financial results where the company discusses net income, net interest margin, noninterest income and expense, asset quality metrics, and capital ratios. These releases often include management commentary on credit trends, loan portfolio changes, deposit mix, and strategic priorities such as growing the community bank and wealth management platform.
News items also cover corporate actions such as common and preferred stock dividend declarations, stock repurchase program authorizations, and balance sheet initiatives. For example, Midland States Bancorp has reported the redemption of subordinated notes, the sale of non-core loan portfolios, and the sale of substantially all of its equipment finance portfolio to an affiliate of North Mill Equipment Finance LLC, along with decisions to cease originations in that portfolio.
Regulatory and governance developments appear in the feed through summaries of Form 8-K filings and related press releases. These include notices regarding delayed SEC filings, Nasdaq listing rule deficiency notifications, annual meeting results, and changes in senior leadership roles. Investors can also see announcements of upcoming earnings release dates and the availability of investor presentations.
By following this page, users can review Midland States Bancorp’s historical and ongoing disclosures on financial performance, credit quality, capital management, and governance matters in one place, using the underlying articles to track how the company communicates its strategy and risk profile over time.
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.
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.
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