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Midland States Bancorp(NASDAQ) MSBI

Market Cap$716.57MMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.
Since IPO (2016)+149%
5 Year+80%
1 Year+120%
1 Month+14%
$34.26
-0.78%
-0.27Today
After hours$34.24-$0.02 (-0.06%)
Midland States Bancorp last closing stock price
MetricPriceDate
Last closeUSD 34.532026-08-04
Midland States Bancorp stock price return by period
PeriodPrice returnPrice at period startPeriod start date
1 week+1.26%USD 34.102026-07-28
1 month+13.77%USD 30.352026-07-02
3 month+25.74%USD 27.462026-05-06
Year to date+67.37%USD 20.632025-12-31
1 year+120.02%USD 15.692025-08-04
3 year+73.35%USD 19.922023-08-04
5 year+80.06%USD 19.182021-08-05
Since inception+148.8%USD 13.882016-05-24

Midland States Bancorp Financials at a Glance

Market Cap

$716.57MMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.

Revenue (TTM)

$442.94M

Net Income (TTM)

$43.02M

EPS (TTM)

$1.56

P/E Ratio

22.17

Dividend

$1.28

Beta (Volatility)

0.72 (Low)

Price

$34.26

Volume

118,994

Open

$35.10

Previous Close

$34.24

Daily Range

$33.88 - $35.10

52-Week Range

$14.24 - $35.10

Estimated Earnings Date

Oct 29, 2026

MSBI News

No articles available.

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About Midland States Bancorp

Midland helps people and businesses manage their money through everyday banking services. It provides loans for homes, cars, and business equipment to help the local community grow. The company also helps families plan for the future with investment and estate services.

What Midland Offers

  • Commercial Banking: Business loans for equipment, working capital, and commercial real estate serving businesses and local municipalities.
  • Retail Banking: Consumer services including checking accounts, savings accounts, and residential mortgages for homeowners.
  • Wealth Management: Financial planning, trust services, and investment management for individuals and corporate retirement plans.
  • Consumer Lending: Personal installment loans used to purchase cars, boats, and other recreational vehicles.
  • Specialty Finance: Nationwide bridge lending for developments involving the Federal Housing Administration (FHA) and the Department of Housing and Urban Development (HUD).

Strategic Shifts and Sales

  • Ceased equipment leasing: The company stopped originating new equipment financing leases and loans on September 30, 2025.
  • Portfolio sale: Midland sold substantially all of its equipment finance portfolio during the fourth quarter of 2025.
  • Share repurchases: The company bought back 365,507 shares of its own common stock during the first quarter of 2026.
  • Goodwill impairment: Midland recorded a $154 million impairment charge in its banking unit during the first quarter of 2025 due to credit quality and stock price trends.

What Makes the Bank Different

Midland operates a diversified model that combines traditional community banking with specialized national lending and wealth management services. The company manages risk through a centralized independent loan review process across its four geographic regions.

The Numbers for Q1 2026

  • Net income reached $18.5 million in Q1 2026, up from a loss of $141 million in Q1 2025 (improved).
  • Total revenue was $108.1 million in Q1 2026, down 6% from $115 million in Q1 2025.
  • Operating income hit $24.1 million in Q1 2026, compared to a loss of $137.8 million in Q1 2025 (improved).
  • Free cash flow was $17 million in Q1 2026, a 25.8% decrease from $22.9 million in Q1 2025.
  • The provision for credit losses decreased to $5 million in Q1 2026, down from $10.9 million in Q1 2025.

Bottom Line

Midland has transitioned from a local lender to a diversified financial holding company with both regional and national operations. By exiting the equipment leasing business and focusing on core banking, the company is streamlining its operations to stabilize profitability.

AI Generated • May 5, 2026

Industry

Banks

Sector

Financials

Employees

861

CEO

Jeffrey G. Ludwig, CPA

Website

www.midlandsb.com

Headquarters

Effingham, IL 62401, US

MSBI Financials

Key Financial Metrics (TTM)

Gross Margin

63.93%

Operating Margin

13.09%

Net Income Margin

9.71%

Return on Equity

7.55%

Return on Capital

-10.92%

Return on Assets

0.64%

Earnings Yield

4.51%

Dividend Yield

3.71%

Payout Ratio

85.34%

Stock Overview

Market Cap

$716.57MMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.

Shares Outstanding

20.75M

Volume

118.99K

Avg. Volume

173.96K

Financials (TTM)

Gross Profit

$283.15M

Operating Income

$57.96M

EBITDA

$66.51M

Operating Cash Flow

$119.36M

Capital Expenditure

-$2.11M

Free Cash Flow

$117.25M

Cash & ST Invst.

$1.95B

Total Debt

$344.89M

Midland States Bancorp Performance Analysis

Midland States Bancorp annual revenue and year-over-year revenue growth by fiscal year
Fiscal yearPeriod endRevenueYoY growth
20222022-12-31USD 378,796,00023.4%
20232023-12-31USD 531,551,00040.3%
20242024-12-31USD 559,300,0005.2%
20252025-12-31USD 452,996,000-19.0%
Midland States Bancorp sequential (quarter-over-quarter) revenue growth by fiscal quarter
Fiscal quarterPeriod endQoQ growth
Q32025-09-30-2.2%
Q42025-12-31-7.1%
Q12026-03-310.8%
Q22026-06-303.5%
Midland States Bancorp annual diluted earnings per share and year-over-year EPS growth by fiscal year
Fiscal yearPeriod endDiluted EPSYoY growth
20222022-12-31USD 4.2318.5%
20232023-12-31USD 2.33-44.9%
20242024-12-31USD 1.32-43.5%
20252025-12-31USD -6.12N/A
Midland States Bancorp sequential (quarter-over-quarter) diluted earnings per share growth by fiscal quarter
Fiscal quarterPeriod endQoQ growth
Q32025-09-30-46.7%
Q42025-12-31-200.0%
Q12026-03-31416.7%
Q22026-06-3010.5%

Revenue Growth Rate

Annual and quarterly growth comparison

Earnings Per Share Growth Rate

Annual and quarterly EPS growth comparison

Quarterly Performance

Name
Q2 2026YOY CHG

Revenue

$111.95M

-5.2%

Gross Profit

$76.54M

+24.5%

Gross Margin

68.37%

N/A

Market Cap

$716.57MMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.

N/A

Market Cap/Employee

$843.02K

N/A

Employees

850

N/A

Net Income

$19.89M

+65.4%

EBITDA

$25.78M

+44.3%

Quarterly Fundamentals

Name
Q2 2026YOY CHG

Total Cash

$1.95B

+982.6%

Total Debt

$344.89M

-20.1%

Accounts Receivable

$23.68M

-93.4%

Inventory

$0.00

N/A

Long Term Debt

$337.25M

-1.0%

Short Term Debt

$7.65M

-91.6%

Return on Assets

0.64%

N/A

Return on Invested Capital

0.87%

N/A

Free Cash Flow

$30.09M

+0.6%

Operating Cash Flow

$29.47M

+5.1%

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Questions About MSBI

What is the current price of Midland States Bancorp?

Midland States Bancorp is trading at $34.24 per share.

What is the 52-week range for Midland States Bancorp?

Over the past 52 weeks, Midland States Bancorp has traded between $14.24 and $35.10.

How much debt does Midland States Bancorp have?

As of the most recent reporting period, Midland States Bancorp reported total debt of $353.52M.

How much cash does Midland States Bancorp have on hand?

Midland States Bancorp does not have cash on hand data available.

What is Midland States Bancorp’s dividend yield?

Midland States Bancorp currently has a dividend yield of 3.71%.

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