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 (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.
Midland States Bancorp (NASDAQ: MSBI) will release its first quarter 2022 financial results after market close on April 28, 2022. A conference call and webcast is scheduled for April 29, 2022, at 7:30 a.m. Central Time to discuss the results with analysts and investors. For participation, the call can be accessed at (877) 516-3531 using conference ID 1638388. An archived version of the webcast will be available shortly after the live session concludes. Midland, headquartered in Effingham, Illinois, manages total assets of approximately $7.44 billion.
Midland States Bancorp (NASDAQ: MSBI) has declared a quarterly cash dividend of $0.29 per share, marking a 3.6% increase from the previous dividend of $0.28. This is the 22nd consecutive year of dividend increases. The dividend will be payable on February 18, 2022, to shareholders of record as of February 11, 2022. CEO Jeffrey G. Ludwig highlighted the company's strong financial performance, allowing for increased shareholder returns while maintaining sufficient capital for growth.
Midland States Bancorp (MSBI) reported a net income of $23.1 million or $1.02 per diluted share for Q4 2021, marking a significant increase from $19.5 million in Q3 2021. Total loans surged by 25.2% annualized, while deposits rose by 9.1% compared to the previous quarter. Non-performing loans decreased by 22.0%. Net interest income increased by 5.7% to $54.3 million. The efficiency ratio improved to 52.61%. Adjusted earnings were $25.4 million, or $1.12 per diluted share.