Patriot Financial Partners, L.P. Invests in Midland States Bancorp, Inc. Common Stock Through Open-Market Purchases

Rhea-AI Summary

Midland States Bancorp (Nasdaq: MSBI) announced that Patriot Financial Partners, L.P. acquired a position in the company's common stock through open-market purchases and that James F. Deutsch will join the Midland board and the board of Midland States Bank, effective February 3, 2026.

Mr. Deutsch is a partner at Patriot and a former CEO and founder of Team Capital Bank with over 25 years of banking experience. Company leaders said Patriot's investment and Mr. Deutsch's appointment support the bank's growth and shareholder-return focus.

Positive

• Patriot acquired MSBI shares via open-market purchases on Feb 3, 2026
• James F. Deutsch appointed to Midland board effective Feb 3, 2026
• New director brings 25+ years of banking and management experience

Negative

• Investment amount and stake percentage were not disclosed, limiting impact assessment
• Partner of investor joining the board may raise perceived governance or conflict concerns

Argus Feb 4 session

+1.22% close to close Open Argus

Details

News Market Reaction – MSBI

In the Feb 4 session, MSBI gained 1.22%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement highlights Patriot Financial Partners acquiring MSBI common stock via open-market ...

Analysis

This announcement highlights Patriot Financial Partners acquiring MSBI common stock via open-market purchases and the appointment of partner James F. Deutsch to the Board effective February 3, 2026. It adds an investor with over 25 years of banking and finance experience to oversight. In context of recent losses, portfolio sales, and a new buyback program, investors may watch how this board addition influences strategy, credit risk posture, and future capital allocation decisions.

Key Figures

Board appointment date: February 3, 2026 Banking experience: over 25 years

Board appointment date

February 3, 2026

Effective date for James F. Deutsch joining the Board

Banking experience

over 25 years

Mr. Deutsch’s management roles in commercial and investment banking

Historical Context

5 past events · Latest: Jan 22

5 events

1. Jan 22

   Q4 2025 results

   24h Move

   +1.6%

   Reported net loss with portfolio sale losses but positive adjusted earnings detail.

2. Jan 02

   Earnings timing update

   24h Move

   +1.6%

   Announced date and materials for upcoming Q4 2025 financial release.

3. Dec 01

   Portfolio sale

   24h Move

   +1.9%

   Sold most equipment finance portfolio, expecting pre-tax loss but capital benefits.

4. Nov 06

   Leadership transition

   24h Move

   +0.3%

   Announced planned retirement of bank president with defined succession plan.

5. Nov 03

   Buyback authorization

   24h Move

   +1.4%

   Approved new $25M stock repurchase program signaling capital confidence.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

open-market purchases, private equity fund, common stock

3 terms

open-market purchases financial

"Patriot Financial Partners, L.P. (“Patriot”) acquired a position ... through open-market purchases."

Open-market purchases are when a company or institution buys its own shares or other securities using the public stock market rather than through a private deal. For investors this matters because such buying reduces the number of shares available, often boosting metrics like earnings per share and signaling management thinks the stock is undervalued, while also using cash that might otherwise fund growth or dividends — like a business buying back chips at the table to increase each remaining player's stake.

private equity fund financial

"Patriot, a private equity fund specializing in investments in the financial services industry"

A private equity fund is a pooled investment vehicle where a group of investors gives money to professional managers who buy, improve, and later sell private companies or assets. Think of it as a renovation team that buys rundown houses, upgrades them, and sells them for a profit; for investors this can mean higher returns than public stocks but also longer lock-up periods, higher risk, and less liquidity.

common stock financial

"acquired a position in the Company’s common stock through open-market purchases."

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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EFFINGHAM, Ill., Feb. 03, 2026 (GLOBE NEWSWIRE) -- Midland States Bancorp, Inc. (Nasdaq: MSBI) (the “Company”) announced today that Patriot Financial Partners, L.P. (“Patriot”) acquired a position in the Company’s common stock through open-market purchases. The Company has agreed to add James F. Deutsch to its Board of Directors effective February 3, 2026. Mr. Deutsch has also been appointed to the Board of Midland States Bank, the Company’s wholly-owned bank subsidiary.

Mr. Deutsch currently serves as a partner of Patriot, a private equity fund specializing in investments in the financial services industry and current shareholder of the Company. Prior to joining Patriot, Mr. Deutsch served as President, Chief Executive Officer and Founder of Team Capital Bank, a Pennsylvania-based community bank. Before Team Capital, he spent over 25 years in various management positions in commercial banking, investment banking, and corporate finance.

Jeffrey C. Smith, Chairman of the Company and Midland States Bank, said “We are pleased to welcome Jim to our board and to announce Patriot’s investment in our Company. Jim serves on Patriot’s Investment Committee and brings a wealth of experience in the banking industry, making him well suited to contribute to our Board.”

“Partnering with sophisticated investors who share our values and drive for shareholder return is a priority for our team,” said Jeffrey G. Ludwig, President and Chief Executive Officer of the Company. “We are excited to work with Patriot as we expand our franchise. Patriot is one of the most reputable investors in the industry and a strong cultural fit with our team. An investment from an institutional investor like Patriot affirms our strong belief in the Company’s direction and mission.”

“I am pleased and honored to be joining the other directors on the board of Midland. Midland’s management has done a great job of building a unique franchise, and I look forward to doing what I can to assist and execute on their future growth strategies,” said Mr. Deutsch.

About Midland States Bancorp, Inc.

Midland States Bancorp, Inc. is a community-based financial holding company headquartered in Effingham, Illinois, and is the sole shareholder of Midland States Bank. As of December 31, 2025, the Company had total assets of approximately $6.51 billion, and its Wealth Management Group had assets under administration of approximately $4.48 billion. The Company provides a full range of commercial and consumer banking products and services, merchant credit card services, trust and investment management, insurance and financial planning services. For additional information, visit midlandsb.com or follow Midland States Bank on LinkedIn.

CONTACTS:
Eric T. Lemke, Chief Financial Officer, at elemke@midlandsb.com or (217) 342-7321

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Patriot Financial Partners announce about MSBI on February 3, 2026?

Patriot acquired a position in MSBI common stock via open-market purchases on Feb 3, 2026. According to the company, the purchase was accompanied by the appointment of Patriot partner James F. Deutsch to Midland's board to support growth and shareholder returns.

Who is James F. Deutsch and why was he added to the MSBI board?

James F. Deutsch is a partner at Patriot and former CEO/founder of Team Capital Bank. According to the company, he brings over 25 years of commercial and investment banking experience and will serve on both the Midland States Bancorp and Midland States Bank boards.

Does the Patriot investment in MSBI include a disclosed stake or purchase amount?

No specific stake size or purchase amount was disclosed in the announcement. According to the company, purchases were open-market, but the firm did not provide figures that would clarify the investment's materiality to shareholders.

How might Patriot's investment affect MSBI shareholders and strategy?

The investment signals institutional support and potential strategic alignment with management. According to the company, Patriot is a strategic investor that shares the bank's growth and shareholder-return goals, and its partner joining the board may bolster execution of expansion plans.

Will James F. Deutsch serve on the Midland States Bank board as well as MSBI's board?

Yes. James F. Deutsch was appointed to both the Midland States Bancorp board and the board of Midland States Bank, effective Feb 3, 2026. According to the company, his dual appointment is intended to support bank-level and holding-company governance.