32.29
+1.80%
Close of 9 Nov 2026, in USD
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About Midland States Bancorp
From its filings with the US Securities and Exchange Commission
Midland States Bancorp is based in Effingham, Illinois and is incorporated in Illinois. Its shares trade on Nasdaq under the ticker MSBI. The SEC classifies its business as state commercial banks. In the fiscal year to 31 December 2025, it reported a net loss of $124.3m. At that date it held total assets of $6.51bn and shareholders' equity of $565.5m.
Midland States Bancorp, Inc., an Illinois corporation formed in 1988, is a diversified financial holding company headquartered in Effingham, Illinois. Our banking subsidiary, Midland States Bank, an Illinois state-chartered bank formed in 1881, has branches across Illinois and in Missouri, and 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. As of December 31, 2025, the Company had total assets of $6.51 billion, and our wealth management group had assets under administration of approximately $4.48 billion.
Our strategic plan focuses on delivering a superior customer experience through a high-tech, high-touch approach, while remaining committed to core community banking and relationship-driven growth. We continue to enhance our regional franchise approach that serves our core customers with a consistent, high-performance culture rooted in our One Midland values and with a strong foundation in Enterprise Risk Management.
Community Banking. Our community banking business primarily consists of commercial and retail lending and deposit taking. We deliver a comprehensive range of banking products and services to individuals, businesses, municipalities and other entities within our market areas, which include Illinois and the St. Louis metropolitan area, where we operated 53 full-service banking offices as of December 31, 2025.
Quoted from its 10-K, filed 2 Mar 2026. Read the filing on SEC.gov ↗
Company facts
- Sector
- Financials
- Industry
- Banks
- Listed since
- 24 May 2016
- Employees
- 861
- Website
- midlandsb.com ↗
- Head office
- 1201 NETWORK CENTRE DRIVE, EFFINGHAM, IL, 62401
- Incorporated in
- IL
- Classification
- State Commercial Banks
- Filer status
- Accelerated filer
Leadership
Pay as last reported
- Mr. Jeffrey SmithIndependent Chairman of the Board$152,750
- Mr. Jeffrey LudwigPresident, Chief Executive Officer, Director and Chief Executive Officer of the Bank, since 2006$1.5m
- Mr. Eric LemkeChief Financial Officer$718,141
- Mr. Jeffrey MeffordExecutive Vice President, President of the Bank$970,587
- Mr. Nathan SturyczGeneral Counsel, Investor Relations
- Mr. Daniel CaseyChief Risk Officer of the Bank$531,874
- Mr. R. Dean BinghamIndependent Director$103,000
- Mr. Gerald CarlsonIndependent Director$92,500
- Mrs. Jennifer DimottaIndependent Director$92,000
- Mr. Travis FranklinIndependent Director$79,000
- Mr. Jerry McdanielIndependent Director$98,500
- Mr. Jeffrey McdonnellIndependent Director$88,500
Environmental, social and governance
Scores out of 100, from our data supplier
- Overall
- 43
- Environment
- 38
- Social
- 30
- Governance
- 61
- Carbon reduction policy
- No
- Human rights policy
- No
SWOT analysis
AI-generated by our data supplier. Not written or checked by our editors.
Strengths
- Midland States Bancorp Inc possesses several strengths that contribute to its success and competitive advantage in the market.
- The company offers a wide range of financial products and services, including commercial banking, mortgage banking, wealth management, and consumer banking. This diversification helps Midland States Bancorp attract a broad customer base and create revenue streams from multiple sources.
- With branches across multiple states, Midland States Bancorp has established a strong regional presence. This enhances its visibility and accessibility to customers, leading to improved market penetration and customer acquisition.
- Midland States Bancorp is led by a knowledgeable and experienced management team that brings valuable expertise to guide the company's strategic direction. This leadership ensures effective decision-making and efficient operations.
Weaknesses
- Despite its strengths, Midland States Bancorp Inc also faces certain weaknesses that pose challenges to its growth and competitive position.
- The company's concentrated presence in specific regions may limit its ability to tap into new markets outside those areas. This reliance on a specific region makes Midland States Bancorp vulnerable to regional economic fluctuations and potential risks associated with local market conditions.
- Compared to larger national banks, Midland States Bancorp has relatively lower brand recognition. This can make it challenging to compete against better-known competitors and attract customers who are more likely to choose established banking institutions.
- Like other financial institutions, Midland States Bancorp must comply with numerous regulations, which can be complex and costly to implement. Ensuring ongoing regulatory compliance requires significant resources and may affect the company's profitability.
Opportunities
- Midland States Bancorp Inc can capitalize on various opportunities in the market to drive growth and expand its market presence.
- By strategically acquiring smaller banks or forming partnerships, Midland States Bancorp can expand its geographic reach and customer base, while leveraging synergies and economies of scale to enhance its competitive position.
- Embracing emerging technologies such as mobile banking, digital payment systems, and enhanced online services can enable Midland States Bancorp to attract tech-savvy customers and improve operational efficiency.
- Consumers are increasingly seeking personalized financial solutions tailored to their specific needs. Midland States Bancorp can leverage this trend by offering customized products and services, enhancing customer satisfaction and loyalty.
Threats
- Midland States Bancorp Inc faces certain threats that may hinder its growth and pose challenges to its profitability and sustainability.
- The financial services industry is highly competitive, with both traditional banks and fintech startups vying for market share. Midland States Bancorp must continually innovate and differentiate itself to stay ahead of competitors.
- Fluctuations in the economy, such as recessions or economic downturns, can impact the demand for banking and financial services. Midland States Bancorp should be prepared to navigate such challenging economic conditions and manage potential loan defaults.
- As cyber threats continue to evolve, Midland States Bancorp faces the risk of cybersecurity breaches that can compromise customer data and erode trust. The company needs to invest in robust security measures to protect against these threats.
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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