EFFINGHAM, Ill., July 23, 2026 (GLOBE NEWSWIRE) — Midland States Bancorp, Inc. (Nasdaq: MSBI) (the “Company”) today reported net income available to common shareholders of $17.7 million, or $0.82 per diluted share, for the second quarter of 2026, compared to net income available to common shareholders of $16.2 million, or $0.74 per diluted share, for the first quarter of 2026. This also compares to net income available to common shareholders of $9.8 million, or $0.44 per diluted share, for the second quarter of 2025.
2026 Second Quarter Results
Net income available to common shareholders of $17.7 million, or $0.82 per diluted share.
Return on average assets of 1.22% and return on average tangible common equity of 16.27%.
Adjusted pre-provision net revenue of $32.8 million, or 2.01% of average assets, compared to $30.5 million, or 1.91% of average assets, for the first quarter of 2026.
Net interest margin of 3.98% compared to 3.91% in the prior quarter.
Community Bank loan portfolio increased $6.3 million, or 0.7% annualized, compared to prior quarter. Total loans decreased $94.9 million, primarily due to anticipated runoff within specialty finance and non-core portfolios.
Total capital to risk-weighted assets of 15.77% and common equity tier 1 capital of 10.39%.
Ratio of nonperforming assets to total assets of 0.91%, flat compared to prior quarter.
Discussion of Outlook; President & Chief Executive Officer, Jeffrey G. Ludwig:
“Our second quarter results demonstrate the continued progress we’ve made transforming Midland into a higher-performing community bank. Core profitability remained strong, our net interest margin expanded, capital increased above our near-term target, and our Community Bank continued to generate growth in deposits and customer relationships while we further simplified our balance sheet through the planned runoff of specialty finance and non-core loan portfolios.
“Net interest margin expansion was driven by favorable loan repricing and continued optimization of our earning assets. Total deposits increased $267 million, while we further reduced our reliance on higher-cost brokered deposits. We also strengthened our capital position, increasing our common equity Tier 1 ratio to 10.4%, while continuing to return capital to shareholders through share repurchases.
“While we recognized a higher charge-off associated with the resolution of a previously identified nonperforming commercial real estate credit, broader credit trends continued to improve, including reductions in past due and substandard loans. Looking ahead, we remain focused on disciplined growth across our Community Bank, expanding our wealth management business following a record quarter, and leveraging our stronger financial position to deliver consistent earnings growth and long-term shareholder value.”
Financial Highlights and Key Performance Indicators
|
As of and for the Three Months Ended |
||||||||||||||||||||
|
June 30, |
March 31, |
December 31, |
September 30, |
June 30, |
||||||||||||||||
|
(dollars in thousands, except per share data) |
2026 |
2026 |
2025 |
2025 |
2025 |
|||||||||||||||
|
Diluted earnings (loss) per common share |
$ |
0.82 |
$ |
0.74 |
$ |
(0.24 |
) |
$ |
0.24 |
$ |
0.44 |
|||||||||
|
Return on average assets (annualized) |
1.22 |
% |
1.16 |
% |
(0.17 |
)% |
0.43 |
% |
0.67 |
% |
||||||||||
|
Return on average tangible common equity (annualized) (1) |
16.27 |
% |
14.88 |
% |
(4.46 |
)% |
4.72 |
% |
8.87 |
% |
||||||||||
|
Adjusted pre-provision net revenue to average assets (annualized) (1) |
2.01 |
% |
1.91 |
% |
1.86 |
% |
1.81 |
% |
1.86 |
% |
||||||||||
|
Net interest margin (annualized) |
3.98 |
% |
3.91 |
% |
3.74 |
% |
3.79 |
% |
3.56 |
% |
||||||||||
|
Efficiency ratio (1) |
60.61 |
% |
62.17 |
% |
63.01 |
% |
61.01 |
% |
59.85 |
% |
||||||||||
|
Noninterest expense to average assets |
3.12 |
% |
3.16 |
% |
4.54 |
% |
2.86 |
% |
2.80 |
% |
||||||||||
|
Net charge-offs to average loans (annualized) |
1.17 |
% |
0.64 |
% |
3.69 |
% |
0.99 |
% |
2.34 |
% |
||||||||||
|
Tangible book value per share at period end (1) |
$ |
21.41 |
$ |
20.77 |
$ |
20.70 |
$ |
21.16 |
$ |
20.68 |
||||||||||
|
Common shares outstanding at period end |
20,725,814 |
20,813,975 |
21,169,854 |
21,543,557 |
21,515,138 |
|||||||||||||||
|
Trust assets under administration |
$ |
4,782,625 |
$ |
4,474,234 |
$ |
4,478,999 |
$ |
4,363,756 |
$ |
4,181,180 |
||||||||||
|
|
||||||||||||||||||||
As of and for the Three Months Ended
(dollars in thousands, except per share data)
Diluted earnings (loss) per common share
Return on average assets (annualized)
Return on average tangible common equity (annualized) (1)
Adjusted pre-provision net revenue to average assets (annualized) (1)
Net interest margin (annualized)
Noninterest expense to average assets
Net charge-offs to average loans (annualized)
Tangible book value per share at period end (1)
Common shares outstanding at period end
Trust assets under administration
(1) Non-GAAP financial measures. Refer to pages 10-11 for a reconciliation to the comparable GAAP financial measures.
Key Points for Second Quarter and Outlook
Growth Trends in Community Bank & Wealth Management
Total loans at June 30, 2026 were $4.24 billion, a decrease of $94.9 million from March 31, 2026, reflecting the continued planned runoff of specialty finance and non-core portfolios, which more than offset Community Bank loan growth. Average loan balances in the Community Bank increased approximately $83 million, or 2.5%, during the quarter, supported by continued commercial loan production and growth in commercial and industrial commitments. Period-end balances were impacted by the timing of several larger fundings shifting into the third quarter and elevated loan payoffs. Key changes in the loan portfolio were as follows:
Community Bank balances increased $6.3 million, or 0.7% annualized.
Specialty finance loans decreased $81.4 million to $532.1 million from March 31, 2026.
Non-core loans, which include our third-party lending and servicing programs and remaining equipment finance portfolio, decreased $19.7 million to $308.4 million from March 31, 2026.
Total deposits were $5.71 billion at June 30, 2026, an increase of $267.2 million from March 31, 2026. Key changes in deposits were as follows:
Retail and commercial deposits increased $98.4 million and $116.4 million, respectively, driven primarily by growth in new accounts as a result of targeted initiatives.
Public funds and servicing deposits increased $120.2 million and $23.8 million, respectively.
Higher-cost brokered deposits decreased $100.9 million.
Wealth Management revenue totaled $8.8 million in the second quarter of 2026. Assets under administration were $4.78 billion at June 30, 2026, compared to $4.47 billion at March 31, 2026, driven primarily by improved market performance.
Net interest margin was 3.98%, up seven basis points compared to the first quarter of 2026, driven primarily by a favorable shift in investment securities mix, a one basis point increase in loan yields, and a continued decline in funding costs. The cost of deposits decreased three basis points to 1.78% in the second quarter of 2026, as a result of continued pricing discipline.
The following table presents the Company’s net interest margin for the second quarter of 2026 compared to the first quarter of 2026 and the second quarter of 2025.
|
For the Three Months Ended |
|||||||||||||||||||||||||||
|
(dollars in thousands) |
June 30, 2026 |
March 31, 2026 |
June 30, 2025 |
||||||||||||||||||||||||
|
Interest-earning assets |
Average Balance |
Interest & Fees |
Yield/Rate |
Average Balance |
Interest & Fees |
Yield/Rate |
Average Balance |
Interest & Fees |
Yield/Rate |
||||||||||||||||||
|
Cash and cash equivalents |
$ |
108,157 |
$ |
987 |
3.66 |
% |
$ |
89,412 |
$ |
809 |
3.67 |
% |
$ |
67,326 |
$ |
716 |
4.27 |
% |
|||||||||
|
Investment securities (1) |
1,617,474 |
19,540 |
4.85 |
1,592,433 |
18,702 |
4.76 |
1,367,180 |
17,164 |
5.04 |
||||||||||||||||||
|
Loans (1)(2) |
4,268,168 |
67,195 |
6.31 |
4,254,321 |
66,044 |
6.30 |
5,123,558 |
79,240 |
6.20 |
||||||||||||||||||
|
Loans held for sale |
8,431 |
128 |
6.10 |
6,892 |
102 |
6.01 |
44,642 |
377 |
3.39 |
||||||||||||||||||
|
Nonmarketable equity securities |
30,285 |
534 |
7.07 |
31,547 |
583 |
7.50 |
38,803 |
694 |
7.17 |
||||||||||||||||||
|
Total interest-earning assets |
6,032,515 |
88,384 |
5.88 |
5,974,605 |
86,240 |
5.85 |
6,641,509 |
98,191 |
5.93 |
||||||||||||||||||
|
Noninterest-earning assets |
495,663 |
496,233 |
513,801 |
||||||||||||||||||||||||
|
Total assets |
$ |
6,528,178 |
$ |
6,470,838 |
$ |
7,155,310 |
|||||||||||||||||||||
|
Interest-Bearing Liabilities |
|||||||||||||||||||||||||||
|
Interest-bearing deposits |
$ |
4,512,697 |
$ |
24,526 |
2.18 |
% |
$ |
4,430,873 |
$ |
24,203 |
2.22 |
% |
$ |
4,845,609 |
$ |
32,290 |
2.67 |
% |
|||||||||
|
Short-term borrowings |
28,521 |
202 |
2.84 |
33,236 |
231 |
2.82 |
60,117 |
573 |
3.82 |
||||||||||||||||||
|
FHLB advances & other borrowings |
249,044 |
2,349 |
3.78 |
273,444 |
2,670 |
3.96 |
363,505 |
3,766 |
4.16 |
||||||||||||||||||
|
Subordinated debt |
27,027 |
380 |
5.64 |
27,022 |
380 |
5.70 |
77,757 |
1,394 |
7.19 |
||||||||||||||||||
|
Trust preferred debentures |
52,128 |
1,131 |
8.70 |
51,948 |
1,121 |
8.75 |
51,439 |
1,206 |
9.40 |
||||||||||||||||||
|
Total interest-bearing liabilities |
4,869,417 |
28,588 |
2.35 |
4,816,523 |
28,605 |
2.41 |
5,398,427 |
39,229 |
2.91 |
||||||||||||||||||
|
Noninterest-bearing deposits |
1,012,592 |
996,926 |
1,075,945 |
||||||||||||||||||||||||
|
Other noninterest-bearing liabilities |
84,416 |
87,907 |
108,819 |
||||||||||||||||||||||||
|
Shareholders’ equity |
561,753 |
569,482 |
572,119 |
||||||||||||||||||||||||
|
Total liabilities and shareholders’ equity |
$ |
6,528,178 |
$ |
6,470,838 |
$ |
7,155,310 |
|||||||||||||||||||||
|
Net Interest Margin |
$ |
59,796 |
3.98 |
% |
$ |
57,635 |
3.91 |
% |
$ |
58,962 |
3.56 |
% |
|||||||||||||||
|
Cost of Deposits |
1.78 |
% |
1.81 |
% |
2.19 |
% |
|||||||||||||||||||||
|
|
|||||||||||||||||||||||||||
For the Three Months Ended
Nonmarketable equity securities
Total interest-earning assets
Noninterest-earning assets
Interest-Bearing Liabilities
FHLB advances & other borrowings
Trust preferred debentures
Total interest-bearing liabilities
Noninterest-bearing deposits
Other noninterest-bearing liabilities
Total liabilities and shareholders’ equity
(1) Interest income and average rates for tax-exempt loans and investment securities are presented on a tax-equivalent basis, assuming a federal income tax rate of 21%. Tax-equivalent adjustments totaled $0.2 million, $0.2 million, and $0.3 million for the three months ended June 30, 2026, March 31, 2026, and June 30, 2025, respectively.(2) Average loan balances include nonaccrual loans. Interest income on loans includes amortization of deferred loan fees, net of deferred loan costs.
Trends in Noninterest Income and Expense
Noninterest income was $23.8 million for the second quarter of 2026 compared to $22.1 million for the first quarter of 2026. Noninterest income for the first quarter of 2026 included $2.1 million of gains from the sale of the Company’s residential servicing portfolio and a portion of the Company’s commercial servicing portfolio, losses of $1.7 million from the sale of investment securities, and a $1.7 million loss related to our limited partnership investments. Excluding these transactions, noninterest income for the first quarter of 2026 was $23.5 million.
Noninterest expense remained relatively flat for the second quarter of 2026 at $50.8 million compared to $50.4 million for the first quarter of 2026.
Income tax expense was $5.9 million, resulting in an effective tax rate of 22.9% for the second quarter of 2026 compared to 23.4% and 19.1% for the first quarter of 2026 and second quarter of 2025, respectively. We currently expect our effective tax rate to be approximately 23% for the full year, subject to changes in earnings mix, state tax legislation, and other factors.
Continued Progress on Credit Quality
Loans 30-89 days past due decreased to $11.0 million, or 0.26% of total loans, at June 30, 2026, compared to $20.3 million, or 0.47% of total loans, at March 31, 2026. Substandard accruing loans decreased by $20.4 million to $71.5 million at June 30, 2026.
Nonperforming loans increased to $60.9 million, or 1.43% of total loans, at June 30, 2026, compared to $58.8 million, or 1.36% of total loans, at March 31, 2026.
Net charge-offs were $12.5 million for the second quarter of 2026, including an $8.6 million charge-off on a previously identified nonperforming commercial real estate relationship in our Community Bank portfolio. The charge-off reflects the execution of a resolution strategy for the relationship following the borrower’s acceptance of a purchase agreement for the underlying collateral.
Provision for credit losses on loans was $7.1 million for the second quarter of 2026, driven primarily by the replenishment of reserve balances resulting from the net charge-off activity during the quarter, partially offset by improved credit quality metrics, including favorable past due and delinquency trends, and anticipated continued runoff of our specialty finance and non-core loan portfolios.
Allowance for credit losses on loans was $62.5 million, or 1.47% of total loans, at June 30, 2026, compared to an allowance of $67.9 million, or 1.56% of total loans, at March 31, 2026.
The table below summarizes certain information regarding the Company’s loan portfolio asset quality for the periods presented.
|
As of and for the Three Months Ended |
||||||||||||||||||||
|
June 30, |
March 31, |
December 31, |
September 30, |
June 30, |
||||||||||||||||
|
(dollars in thousands) |
2026 |
2026 |
2025 |
2025 |
2025 |
|||||||||||||||
|
Asset Quality |
||||||||||||||||||||
|
Loans 30-89 days past due |
$ |
10,984 |
$ |
20,266 |
$ |
17,079 |
$ |
26,019 |
$ |
40,959 |
||||||||||
|
Nonperforming loans |
60,879 |
58,791 |
65,483 |
68,703 |
80,112 |
|||||||||||||||
|
Nonperforming assets |
61,235 |
59,305 |
66,089 |
70,369 |
81,775 |
|||||||||||||||
|
Substandard accruing loans |
71,526 |
91,963 |
76,000 |
78,901 |
58,478 |
|||||||||||||||
|
Net charge-offs |
12,465 |
6,747 |
43,492 |
12,309 |
29,855 |
|||||||||||||||
|
Loans 30-89 days past due to total loans |
0.26 |
% |
0.47 |
% |
0.39 |
% |
0.53 |
% |
0.81 |
% |
||||||||||
|
Nonperforming loans to total loans |
1.43 |
% |
1.36 |
% |
1.50 |
% |
1.41 |
% |
1.59 |
% |
||||||||||
|
Nonperforming assets to total assets |
0.91 |
% |
0.91 |
% |
1.01 |
% |
1.02 |
% |
1.15 |
% |
||||||||||
|
Allowance for credit losses to total loans |
1.47 |
% |
1.56 |
% |
1.59 |
% |
2.07 |
% |
1.84 |
% |
||||||||||
|
Allowance for credit losses to nonperforming loans |
102.69 |
% |
115.45 |
% |
105.71 |
% |
146.84 |
% |
115.70 |
% |
||||||||||
|
Net charge-offs to average loans (annualized) |
1.17 |
% |
0.64 |
% |
3.69 |
% |
0.99 |
% |
2.34 |
% |
||||||||||
As of and for the Three Months Ended
Substandard accruing loans
Loans 30-89 days past due to total loans
Nonperforming loans to total loans
Nonperforming assets to total assets
Allowance for credit losses to total loans
Allowance for credit losses to nonperforming loans
Net charge-offs to average loans (annualized)
As previously announced, the Company’s board of directors authorized a share repurchase program, pursuant to which the Company was authorized to repurchase up to $45.0 million of its common stock through December 31, 2026. During the second quarter of 2026, the Company repurchased $2.7 million of its common stock (113,208 shares of its common stock at a weighted average price of $24.05), resulting in approximately $24.9 million in remaining repurchase authority under the program.
The Company and Midland States Bank exceeded all regulatory capital requirements under Basel III, and Midland States Bank met the qualifications to be a ”well-capitalized” financial institution, as summarized in the following table:
|
As of June 30, 2026 |
||||||
|
Midland States Bank |
Midland States Bancorp, Inc. |
Minimum Regulatory Requirements (2) |
||||
|
Total capital to risk-weighted assets |
14.84% |
15.77% |
10.50% |
|||
|
Tier 1 capital to risk-weighted assets |
13.59% |
13.97% |
8.50% |
|||
|
Common equity Tier 1 capital to risk-weighted assets |
13.59% |
10.39% |
7.00% |
|||
|
Tier 1 leverage ratio |
10.08% |
10.37% |
4.00% |
|||
|
Tangible common equity to tangible assets (1) |
N/A |
6.64% |
N/A |
|||
Midland States Bancorp, Inc.
Minimum Regulatory Requirements (2)
Total capital to risk-weighted assets
Tier 1 capital to risk-weighted assets
Common equity Tier 1 capital to risk-weighted assets
Tangible common equity to tangible assets (1)
|
As of March 31, 2026 |
||||||
|
Midland States Bank |
Midland States Bancorp, Inc. |
Minimum Regulatory Requirements (2) |
||||
|
Total capital to risk-weighted assets |
14.42% |
15.27% |
10.50% |
|||
|
Tier 1 capital to risk-weighted assets |
13.17% |
13.48% |
8.50% |
|||
|
Common equity Tier 1 capital to risk-weighted assets |
13.17% |
9.98% |
7.00% |
|||
|
Tier 1 leverage ratio |
10.10% |
10.35% |
4.00% |
|||
|
Tangible common equity to tangible assets (1) |
N/A |
6.62% |
N/A |
|||
|
|
||||||
Midland States Bancorp, Inc.
Minimum Regulatory Requirements (2)
Total capital to risk-weighted assets
Tier 1 capital to risk-weighted assets
Common equity Tier 1 capital to risk-weighted assets
Tangible common equity to tangible assets (1)
(1) Non-GAAP financial measure. Refer to pages 10-11 for a reconciliation to the comparable GAAP financial measure.(2) Includes the capital conservation buffer of 2.5%, as applicable.
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 June 30, 2026, the Company had total assets of approximately $6.70 billion, and its Wealth Management Group had assets under administration of approximately $4.78 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 https://www.midlandsb.com/ or https://www.linkedin.com/company/midland-states-bank.
Non-GAAP Financial Measures
Some of the financial measures included in this press release are not measures calculated in accordance with GAAP.
These non-GAAP financial measures include “Adjusted pre-provision net revenue,” “Adjusted pre-provision net revenue to average assets,” “Adjusted earnings,” “Adjusted earnings available to common shareholders,” “Adjusted diluted earnings per common share,” “Return on average tangible common equity,” “Efficiency ratio,” “Tangible common equity to tangible assets,” and “Tangible book value per share.” The Company believes these non-GAAP financial measures provide both management and investors a more complete understanding of the Company’s profitability and asset profile, and that the tangible asset-based measures are commonly used by investors in evaluating value of financial institutions and their equity securities. These non-GAAP financial measures are supplemental and are not a substitute for any analysis based on GAAP financial measures. Not all companies use the same calculation of these measures; therefore, the measures in this press release may not be comparable to other similarly titled measures as presented by other companies.
Forward-Looking Statements
Readers should note that in addition to the historical information contained herein, this press release includes “forward-looking statements” within the meanings of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including but not limited to statements about the Company’s plans, objectives, future performance, goals and future earnings levels, including currently anticipated levels of noninterest income and operating expenses. These statements are subject to many risks and uncertainties, including changes in interest rates and other general economic, business and political conditions; the impact of federal trade policy, inflation, deposit volatility and potential regulatory developments; the performance of our loan portfolio and our ability to manage credit risk; changes in the financial markets; the effects of armed conflict, including the scope and duration of disruptions in global energy markets relating to war in the Middle East; changes in the business environment resulting from the adoption of artificial intelligence, including fraud and cybersecurity risk; operational risks, including with respect to fraud and information technology; changes in business plans as circumstances warrant; changes to U.S. and state tax laws, regulations and guidance; and other risks detailed from time to time in filings made by the Company with the Securities and Exchange Commission, including the risk factors set forth in our Annual Report on Form 10-K for the year ended December 31, 2025, which are incorporated herein by reference. Readers should note that the forward-looking statements included in this press release are not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “will,” “should,” “propose,” “may,” “plan,” “seek,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “continue,” “outlook,” “trends,” or similar terminology. Any forward-looking statements presented herein are made only as of the date of this press release, and the Company does not undertake any obligation to update or revise any forward-looking statements to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.
CONTACTS:Jeffrey G. Ludwig, President and CEO, at [email protected] or (217) 342-7321Claire A. Stack, Chief Financial Officer, at [email protected] or (217) 342-7321
|
MIDLAND STATES BANCORP, INC. |
||||||||||||||||||||
|
CONSOLIDATED FINANCIAL SUMMARY (unaudited) |
||||||||||||||||||||
|
As of |
||||||||||||||||||||
|
June 30, |
March 31, |
December 31, |
September 30, |
June 30, |
||||||||||||||||
|
(dollars in thousands) |
2026 |
2026 |
2025 |
2025 |
2025 |
|||||||||||||||
|
Assets |
||||||||||||||||||||
|
Cash and cash equivalents |
$ |
298,747 |
$ |
113,658 |
$ |
127,811 |
$ |
166,147 |
$ |
176,587 |
||||||||||
|
Investment securities |
1,657,313 |
1,596,220 |
1,527,236 |
1,383,121 |
1,354,652 |
|||||||||||||||
|
Loans |
4,243,704 |
4,338,573 |
4,352,004 |
4,867,587 |
5,035,295 |
|||||||||||||||
|
Allowance for credit losses on loans |
(62,519 |
) |
(67,875 |
) |
(69,219 |
) |
(100,886 |
) |
(92,690 |
) |
||||||||||
|
Total loans, net |
4,181,185 |
4,270,698 |
4,282,785 |
4,766,701 |
4,942,605 |
|||||||||||||||
|
Loans held for sale |
8,944 |
6,709 |
7,781 |
7,535 |
37,299 |
|||||||||||||||
|
Premises and equipment, net |
82,898 |
84,169 |
85,134 |
86,005 |
86,240 |
|||||||||||||||
|
Other real estate owned |
356 |
514 |
606 |
393 |
393 |
|||||||||||||||
|
Loan servicing rights, at lower of cost or fair value |
11,316 |
11,688 |
11,932 |
16,165 |
16,720 |
|||||||||||||||
|
Goodwill |
7,927 |
7,927 |
7,927 |
7,927 |
7,927 |
|||||||||||||||
|
Other intangible assets, net |
7,495 |
8,159 |
8,876 |
9,619 |
10,362 |
|||||||||||||||
|
Company-owned life insurance |
222,757 |
220,630 |
218,554 |
216,494 |
214,392 |
|||||||||||||||
|
Credit enhancement asset |
13,642 |
13,476 |
12,557 |
5,765 |
5,800 |
|||||||||||||||
|
Other assets |
208,036 |
214,115 |
222,221 |
245,643 |
254,901 |
|||||||||||||||
|
Total assets |
$ |
6,700,616 |
$ |
6,547,963 |
$ |
6,513,420 |
$ |
6,911,515 |
$ |
7,107,878 |
||||||||||
|
Liabilities and Shareholders’ Equity |
||||||||||||||||||||
|
Noninterest-bearing demand deposits |
$ |
1,010,128 |
$ |
1,013,808 |
$ |
1,040,411 |
$ |
1,015,930 |
$ |
1,074,212 |
||||||||||
|
Interest-bearing deposits |
4,697,150 |
4,426,259 |
4,383,968 |
4,588,895 |
4,872,707 |
|||||||||||||||
|
Total deposits |
5,707,278 |
5,440,067 |
5,424,379 |
5,604,825 |
5,946,919 |
|||||||||||||||
|
Short-term borrowings |
7,645 |
153,425 |
60,181 |
146,766 |
8,654 |
|||||||||||||||
|
FHLB advances |
258,000 |
238,000 |
293,000 |
373,000 |
345,000 |
|||||||||||||||
|
Subordinated debt |
27,030 |
27,024 |
27,019 |
27,014 |
77,759 |
|||||||||||||||
|
Trust preferred debentures |
52,219 |
52,035 |
51,857 |
51,684 |
51,518 |
|||||||||||||||
|
Other liabilities |
78,756 |
78,458 |
91,485 |
124,225 |
104,323 |
|||||||||||||||
|
Total liabilities |
6,130,928 |
5,989,009 |
5,947,921 |
6,327,514 |
6,534,173 |
|||||||||||||||
|
Total shareholders’ equity |
569,688 |
558,954 |
565,499 |
584,001 |
573,705 |
|||||||||||||||
|
Total liabilities and shareholders’ equity |
$ |
6,700,616 |
$ |
6,547,963 |
$ |
6,513,420 |
$ |
6,911,515 |
$ |
7,107,878 |
||||||||||
MIDLAND STATES BANCORP, INC.
CONSOLIDATED FINANCIAL SUMMARY (unaudited)
Allowance for credit losses on loans
Premises and equipment, net
Loan servicing rights, at lower of cost or fair value
Other intangible assets, net
Company-owned life insurance
Liabilities and Shareholders’ Equity
Noninterest-bearing demand deposits
Trust preferred debentures
Total shareholders’ equity
Total liabilities and shareholders’ equity
|
MIDLAND STATES BANCORP, INC. |
||||||||||||||||||||
|
CONSOLIDATED FINANCIAL SUMMARY (unaudited) (continued) |
||||||||||||||||||||
|
For the Three Months Ended |
||||||||||||||||||||
|
June 30, |
March 31, |
December 31, |
September 30, |
June 30, |
||||||||||||||||
|
(dollars in thousands, except per share data) |
2026 |
2026 |
2025 |
2025 |
2025 |
|||||||||||||||
|
Net interest income: |
||||||||||||||||||||
|
Interest income |
$ |
88,177 |
$ |
86,022 |
$ |
92,095 |
$ |
98,493 |
$ |
97,924 |
||||||||||
|
Interest expense |
28,588 |
28,605 |
33,393 |
37,376 |
39,229 |
|||||||||||||||
|
Net interest income |
59,589 |
57,417 |
58,702 |
61,117 |
58,695 |
|||||||||||||||
|
Provision for credit losses: |
||||||||||||||||||||
|
Provision for credit losses on loans |
7,109 |
5,403 |
11,825 |
20,505 |
17,369 |
|||||||||||||||
|
Recapture of credit losses on unfunded commitments |
(290 |
) |
(400 |
) |
(200 |
) |
(500 |
) |
— |
|||||||||||
|
Total provision for credit losses |
6,819 |
5,003 |
11,625 |
20,005 |
17,369 |
|||||||||||||||
|
Net interest income after provision for credit losses |
52,770 |
52,414 |
47,077 |
41,112 |
41,326 |
|||||||||||||||
|
Noninterest income: |
||||||||||||||||||||
|
Wealth management revenue |
8,768 |
8,248 |
8,272 |
8,018 |
7,379 |
|||||||||||||||
|
Service charges on deposit accounts |
3,449 |
3,355 |
3,573 |
3,598 |
3,351 |
|||||||||||||||
|
Interchange revenue |
3,553 |
3,528 |
3,437 |
3,445 |
3,463 |
|||||||||||||||
|
Residential mortgage banking revenue |
686 |
626 |
690 |
735 |
756 |
|||||||||||||||
|
Income on company-owned life insurance |
2,127 |
2,076 |
2,060 |
2,102 |
2,068 |
|||||||||||||||
|
Gain (loss) on sales of investment securities, net |
— |
(1,731 |
) |
— |
14 |
— |
||||||||||||||
|
Credit enhancement income (loss) |
3,081 |
3,360 |
6,876 |
(242 |
) |
3,848 |
||||||||||||||
|
Other income |
2,104 |
2,660 |
1,959 |
2,346 |
2,669 |
|||||||||||||||
|
Total noninterest income |
23,768 |
22,122 |
26,867 |
20,016 |
23,534 |
|||||||||||||||
|
Noninterest expense: |
||||||||||||||||||||
|
Salaries and employee benefits |
27,354 |
26,157 |
25,906 |
26,393 |
25,685 |
|||||||||||||||
|
Occupancy and equipment |
4,229 |
4,535 |
4,353 |
4,206 |
4,166 |
|||||||||||||||
|
Data processing |
6,994 |
7,065 |
6,834 |
7,186 |
7,035 |
|||||||||||||||
|
Professional services |
1,665 |
2,242 |
2,321 |
2,017 |
2,792 |
|||||||||||||||
|
Amortization of intangible assets |
664 |
717 |
743 |
743 |
827 |
|||||||||||||||
|
Loss on sale of loan portfolios |
— |
— |
23,051 |
— |
— |
|||||||||||||||
|
Impairment on leased assets and surrendered assets |
— |
— |
684 |
— |
— |
|||||||||||||||
|
FDIC insurance |
… |
|||||||||||||||||||
MIDLAND STATES BANCORP, INC.
CONSOLIDATED FINANCIAL SUMMARY (unaudited) (continued)
For the Three Months Ended
(dollars in thousands, except per share data)
Provision for credit losses:
Provision for credit losses on loans
Recapture of credit losses on unfunded commitments
Total provision for credit losses
Net interest income after provision for credit losses
Service charges on deposit accounts
Residential mortgage banking revenue
Income on company-owned life insurance
Gain (loss) on sales of investment securities, net
Credit enhancement income (loss)
Salaries and employee benefits
Amortization of intangible assets
Loss on sale of loan portfolios
Impairment on leased assets and surrendered assets