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 (NASDAQ: MSBI) announced receiving a deficiency notification from Nasdaq on April 3, 2025, due to failing to timely file its Annual Report on Form 10-K for the year ended December 31, 2024. The notification indicates non-compliance with Nasdaq Listing Rule 5250(c)(1).
The company has 60 calendar days to submit a compliance plan, with Nasdaq having discretion to grant up to 180 days (until September 29, 2025) to regain compliance. The notice does not immediately affect MSBI's stock listing or trading on the Nasdaq Global Select Market.
The delay stems from additional time needed to evaluate the accounting and financial reporting of a third-party lending and servicing arrangement, including obtaining documentation and analysis. The company is also evaluating impacts on internal control over financial reporting.
Midland States Bancorp (NASDAQ: MSBI) has announced its latest dividend declarations. The Board of Directors approved a quarterly cash dividend of $0.31 per share of common stock, payable on February 21, 2025, to shareholders of record as of February 14, 2025.
Additionally, the company declared a cash dividend of $0.4844 per depository share on its 7.75% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A. This preferred stock dividend will be paid on March 31, 2025, to stockholders of record as of March 17, 2025.
Midland States Bancorp (MSBI) reported a net loss of $54.8 million ($2.52 per diluted share) in Q4 2024, compared to net income of $16.2 million in Q3 2024. The loss was primarily driven by significant credit quality actions, including:
- Sale of $87.1 million LendingPoint consumer loan portfolio with $17.3 million in losses
- Plan to sell $371.7 million Greensky portfolio with $33.4 million in losses
- Total net charge-offs of $102.7 million and provision for credit losses of $93.5 million
Key metrics for Q4 2024:
- Net interest margin: 3.19% (up from 3.10% in Q3)
- Wealth management revenue: $7.7 million (up from $7.1 million in Q3)
- Common equity tier 1 capital ratio: 8.37% (down from 9.00% in Q3)
- Total assets: $7.53 billion
- Total deposits: $6.20 billion
Midland States Bancorp (NASDAQ: MSBI) has scheduled the release of its fourth quarter 2024 financial results for Thursday, January 23, 2025, after market close. The company will simultaneously publish an investor presentation, which will be accessible on the Webcasts and Presentations section of their investor relations website.
Midland States Bancorp (NASDAQ: MSBI) has announced its latest dividend declarations. The company's Board of Directors approved a quarterly cash dividend of $0.31 per share of common stock, payable on November 25, 2024, to shareholders of record as of November 18, 2024. Additionally, a cash dividend of $0.4844 per depository share was declared on its 7.75% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A, payable on December 30, 2024, to stockholders of record as of December 16, 2024.
Midland States Bancorp (MSBI) reported Q3 2024 net income of $16.2 million, or $0.74 per diluted share, compared to $4.5 million in Q2 2024. Key highlights include adjusted pre-tax, pre-provision earnings of $27.5 million and improved tangible book value per share to $24.90. Total assets were $7.75 billion, with portfolio loans at $5.75 billion. The company's net interest margin was 3.10%, while efficiency ratio improved to 62.8%. Notable developments include continued reduction in equipment finance and consumer loan portfolios, increased commercial real estate loans, and elevated nonperforming loans at $114.6 million.
Midland States Bancorp, Inc. (NASDAQ: MSBI) has announced that it will release its third quarter 2024 financial results after the market closes on Thursday, October 24, 2024. The company will simultaneously publish an investor presentation alongside the press release announcing the financial results. This presentation will be accessible on the Webcasts and Presentations page of Midland States Bancorp's investor relations website. This announcement provides shareholders and interested parties with advance notice of when to expect the company's latest financial performance data and additional insights into its operations.
Midland States Bancorp (NASDAQ: MSBI) has announced quarterly dividends for both its common and preferred stock. The Board of Directors declared a $0.31 per share cash dividend on common stock, payable on August 23, 2024, to shareholders of record as of August 16, 2024. Additionally, a $0.4844 per depository share cash dividend was declared on the company's 7.75% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A, payable on September 30, 2024, to stockholders of record as of September 16, 2024. This announcement demonstrates MSBI's commitment to providing returns to its shareholders through regular dividend payments.
Midland States Bancorp (Nasdaq: MSBI) announced its 2024 Q2 results, reporting a net income available to common shareholders of $4.5 million ($0.20 per diluted share), down from $11.7 million ($0.53 per share) in Q1 2024 and $19.3 million ($0.86 per share) in Q2 2023.
Tangible book value per share decreased to $23.36. The common equity tier 1 capital ratio improved slightly to 8.63%. However, the net interest margin declined to 3.12% from 3.18% in the previous quarter.
Provision expenses soared to $16.8 million due to issues with fintech partner LendingPoint. Non-performing loans increased to $112.1 million, from $105 million in Q1 2024. Efficiency ratio worsened significantly to 65.2% from 58.0%.
Total deposits and loans declined, with total assets at $7.76 billion.
Transend, a B2B private-label working capital solution provider, has partnered with Midland States Bank (NASDAQ: MSBI) to launch an innovative financing approach. This collaboration aims to offer dynamic payment solutions that enable suppliers to provide instant access to working capital at the point of commerce.
The partnership between Transend and Midland States Bank is designed to help suppliers drive loyalty, increase sales, and accelerate accounts receivable with their commercial customers. Both companies share a partner-centric vision and are committed to setting new standards for responsible collaboration between banks and FinTechs in the commercial financing space.
