NASDAQ : MSBI
Midland States Bancorp, Inc. — Financial statements
Financials · Banks - Regional · United States
Last price 33.83 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 703.73M
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Interest Income on Loans | 300.23M | 317.05M | 367.82M | 380.36M | 288.06M | 217.51M |
| Interest Income on Investments | 59.09M | 70.81M | 58.31M | 36.74M | 24.65M | 20.31M |
| Total Interest Income | 359.31M | 387.87M | 426.13M | 417.10M | 312.71M | 237.82M |
| Interest Paid on Deposits | 106.17M | 124.27M | 160.68M | 136.95M | 36.06M | 10.96M |
| Interest Paid on Borrowings | 14.71M | 26.79M | 29.11M | 31.33M | 19.96M | 19.18M |
| Total Interest Expense | 120.89M | 151.06M | 189.78M | 168.28M | 56.02M | 30.14M |
| Net Interest Income | 238.43M | 236.80M | 236.35M | 248.82M | 256.69M | 207.68M |
| Trust Income | 33.94M | 31.02M | 28.70M | 25.57M | 25.71M | 26.81M |
| Mortgage Banking Activities | 2.22M | 2.86M | 2.42M | 1.90M | 1.51M | 5.53M |
| Gain (Loss) on Sale of Assets | -3.25M | -222.00K | ||||
| Gain (Loss) on Sale of Investments | -1.73M | 14.00K | -230.00K | -9.37M | -230.00K | 4.73M |
| Other Non-Interest Income | 47.42M | 40.46M | 94.47M | 84.02M | 113.91M | 31.12M |
| Total Non-Interest Income | 95.99M | 88.18M | 138.51M | 114.11M | 147.88M | 77.21M |
| Revenues Before Loan Losses | 334.42M | 324.98M | 374.86M | 362.93M | 404.57M | 284.88M |
| Provision for Loan Losses | 27.18M | 59.85M | 120.33M | 82.56M | 76.76M | 3.39M |
| Revenue | 307.24M | 265.13M | 254.52M | 280.37M | 327.81M | 281.49M |
| Salaries and Employee Benefits | 105.02M | 101.49M | 90.61M | 90.95M | 88.09M | 84.94M |
| Occupancy Expenses | 15.98M | 15.28M | 14.80M | 14.49M | 13.34M | 13.47M |
| Federal Deposit Insurance | 5.84M | 8.14M | 5.28M | 4.78M | 3.34M | 3.35M |
| Amortization of Goodwill & Intangibles | 2.77M | 3.22M | 4.01M | 4.76M | 5.41M | 5.86M |
| Selling, General & Administrative | 46.01M | 49.94M | 46.29M | 42.22M | 40.67M | 45.15M |
| Other Non-Interest Expense | 31.58M | 23.95M | 30.35M | 35.55M | 39.12M | 12.28M |
| Total Non-Interest Expense | 230.53M | 225.34M | 196.90M | 193.08M | 195.16M | 166.31M |
| EBT Excluding Unusual Items | 76.71M | 39.79M | 57.63M | 87.29M | 132.65M | 115.18M |
| Asset Writedown | -684.00K | -684.00K | -7.86M | -1.26M | -7.53M | |
| Legal Settlements | -3.10M | |||||
| Other Unusual Items | 231.00K | 676.00K | -8.54M | |||
| Pretax Income | 76.03M | -114.87M | 46.90M | 87.96M | 131.39M | 99.11M |
| Income Tax Expense | 17.76M | 9.41M | 8.86M | 26.81M | 31.15M | 17.80M |
| Net Income | 58.27M | -124.28M | 38.04M | 61.16M | 100.24M | 81.32M |
| Preferred Dividends & Other Adjustments | 9.91M | 9.45M | 9.40M | 9.56M | 4.29M | 824.00K |
| Net Income to Common | 48.36M | -133.73M | 28.65M | 51.59M | 95.95M | 80.49M |
| Basic Shares Outstanding | 21.34M | 21.83M | 21.73M | 22.12M | 22.34M | 22.48M |
| Diluted Shares Outstanding | 21.34M | 21.83M | 21.74M | 22.12M | 22.40M | 22.55M |
| EPS (Basic) | 2.27 | -6.12 | 1.32 | 2.33 | 4.29 | 3.58 |
| EPS (Diluted) | 2.25 | -6.12 | 1.32 | 2.33 | 4.28 | 3.57 |
| Dividend Per Share | 1.28 | 1.26 | 1.24 | 1.20 | 1.16 | 1.12 |
| Effective Tax Rate | 23.36% | 18.88% | 30.48% | 23.71% | 17.95% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 99.61M | 127.81M | 114.77M | 135.06M | 160.63M | 680.37M |
| Investment Securities | 269.00M | 298.02M | 305.79M | 354.16M | 483.50M | |
| Trading Asset Securities | 3.45M | 3.84M | 372.00K | 449.00K | 5.91M | |
| Mortgage-Backed Securities | 1.91B | 1.29B | 948.07M | 658.03M | 468.90M | 468.98M |
| Total Investments | 1.91B | 1.56B | 1.25B | 964.19M | 823.51M | 958.38M |
| Gross Loans | 4.28B | 4.36B | 5.22B | 6.17B | 6.37B | 5.27B |
| Allowance for Loan Losses | -60.85M | -69.22M | -111.20M | -159.32M | -61.05M | -51.06M |
| Other Adjustments to Gross Loans | -4.70M | -56.70M | -66.40M | -62.60M | -46.10M | |
| Net Loans | 4.22B | 4.28B | 5.06B | 5.94B | 6.25B | 5.17B |
| Property, Plant & Equipment | 82.44M | 85.13M | 116.41M | 140.81M | 78.29M | 79.22M |
| Goodwill | 7.93M | 7.93M | 161.90M | 161.90M | 161.90M | 161.90M |
| Other Intangible Assets | 6.85M | 8.88M | 12.10M | 16.11M | 20.87M | 24.37M |
| Loans Held for Sale | 4.58M | 7.78M | 344.95M | 3.81M | 1.29M | 32.05M |
| Accrued Interest Receivable | 23.82M | 25.33M | 34.13M | 20.31M | 19.47M | |
| Other Current Assets | 20.75M | |||||
| Other Real Estate Owned & Foreclosed | 180.00K | 606.00K | 6.50M | 11.35M | 8.40M | 14.49M |
| Other Long-Term Assets | 484.26M | 405.39M | 418.56M | 378.40M | 314.14M | 299.82M |
| Total Assets | 6.82B | 6.51B | 7.51B | 7.79B | 7.86B | 7.44B |
| Interest Bearing Deposits | 4.64B | 4.24B | 4.97B | 4.98B | 4.88B | 3.72B |
| Institutional Deposits | 139.60M | 166.80M | 179.20M | 118.60M | 143.50M | |
| Non-Interest Bearing Deposits | 973.39M | 1.04B | 1.06B | 1.15B | 1.36B | 2.25B |
| Total Deposits | 5.62B | 5.42B | 6.20B | 6.31B | 6.36B | 6.11B |
| Short-Term Borrowings | 151.50M | 65.18M | 93.15M | 209.70M | 302.76M | 77.20M |
| Current Portion of Long-Term Debt | 110.00M | |||||
| Current Portion of Leases | 1.80M | |||||
| Accrued Interest Payable | 77.18M | 108.51M | 92.24M | 60.87M | 82.78M | |
| Long-Term Debt | 27.04M | 27.02M | 77.75M | 93.55M | 99.77M | 139.26M |
| Federal Home Loan Bank Debt, Long-Term | 353.00M | 183.00M | 258.00M | 310.00M | 210.00M | 310.00M |
| Long-Term Leases | 7.51M | 10.10M | 9.30M | 8.90M | 10.70M | |
| Trust Preferred Securities | 52.41M | 51.86M | 51.20M | 50.62M | 49.98M | 49.37M |
| Other Long-Term Liabilities | 84.09M | |||||
| Total Liabilities | 6.29B | 5.95B | 6.80B | 7.07B | 7.10B | 6.78B |
| Preferred Stock, Redeemable | 110.55M | 110.55M | 110.55M | 110.55M | 110.55M | |
| Common Stock | 420.82M | 212.00K | 215.00K | 216.00K | 222.00K | 221.00K |
| Additional Paid-In Capital | 428.25M | 434.35M | 435.46M | 449.20M | 445.91M | |
| Retained Earnings | 86.83M | 247.70M | 245.64M | 282.40M | 212.47M | |
| Comprehensive Income & Other | -60.33M | -81.96M | -76.75M | -83.80M | 5.24M | |
| Total Common Equity | 420.82M | 454.95M | 600.30M | 604.57M | 648.03M | 663.84M |
| Shareholders' Equity | 531.37M | 565.50M | 710.85M | 715.11M | 758.57M | 663.84M |
| Total Liabilities & Equity | 6.82B | 6.51B | 7.51B | 7.79B | 7.86B | 7.44B |
| Total Debt | 583.94M | 446.37M | 490.21M | 673.16M | 671.40M | 586.54M |
| Net Cash (Debt) | -484.33M | -315.10M | -371.61M | -537.73M | -510.32M | 99.74M |
| Net Cash Per Share | -22.69 | -14.43 | -17.09 | -24.30 | -22.79 | 4.42 |
| Filing Date Shares Outstanding | 20.80M | 20.99M | 21.52M | 21.50M | 22.23M | 22.03M |
| Total Common Shares Outstanding | 20.80M | 21.17M | 21.49M | 21.55M | 22.21M | 22.05M |
| Book Value Per Share | 20.23 | 21.49 | 27.93 | 28.05 | 29.17 | 30.11 |
| Tangible Book Value | 406.04M | 438.15M | 426.30M | 426.55M | 465.26M | 477.56M |
| Tangible Book Value Per Share | 19.52 | 20.70 | 19.83 | 19.79 | 20.94 | 21.66 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -124.28M | 38.04M | 61.16M | 100.24M | 81.32M | |
| Depreciation & Amortization | 11.95M | 13.16M | 12.72M | 14.38M | 16.34M | |
| Gain (Loss) on Sale of Assets | -142.00K | -26.00K | -819.00K | 3.37M | -251.00K | |
| Gain (Loss) on Sale of Investments | -13.71M | -6.56M | 6.96M | 2.54M | 3.66M | |
| Total Asset Writedown | 154.66M | 12.72M | 5.54M | 7.99M | ||
| Provision for Credit Losses | 59.85M | 120.33M | 82.56M | 76.76M | 3.39M | |
| Net Decrease (Increase) in Loans Originated / Sold - Operating | 32.32M | -2.56M | -1.00M | 135.35M | 235.15M | |
| Accrued Interest Receivable | 1.50M | 8.80M | -4.36M | -1.45M | 4.08M | |
| Change in Other Net Operating Assets | -11.33M | -176.00K | 1.17M | -31.16M | -7.57M | |
| Other Operating Activities | -8.55M | -7.91M | -5.12M | -21.11M | -6.66M | |
| Operating Cash Flow | 125.68M | 176.55M | 153.36M | 285.82M | 334.44M | |
| Capital Expenditures | -5.35M | -6.90M | -8.73M | -3.47M | -2.72M | |
| Sale of Property, Plant and Equipment | 37.00K | 104.00K | 175.00K | 647.00K | ||
| Cash Acquisitions | 60.27M | -2.71M | ||||
| Investment in Securities | -269.21M | -288.06M | -138.89M | 18.76M | -226.64M | |
| Net Decrease (Increase) in Loans Originated / Sold - Investing | 1.02B | 431.17M | 113.78M | -1.22B | -258.40M | |
| Other Investing Activities | 1.17M | -48.60M | 1.52M | 2.12M | ||
| Investing Cash Flow | 748.90M | 136.71M | -74.80M | -1.14B | -478.50M | |
| Short-Term Debt Issued | 52.63M | 250.00M | 7.85M | |||
| Long-Term Debt Issued | 328.00M | 263.00M | 215.00M | 500.00M | ||
| Total Debt Issued | 328.00M | 315.63M | 215.00M | 250.00M | 507.85M | |
| Short-Term Debt Repaid | -47.32M | -166.00M | -181.45M | -34.49M | ||
| Long-Term Debt Repaid | -323.75M | -330.76M | -30.84M | -140.17M | -1.01B | |
| Total Debt Repaid | -371.07M | -496.76M | -212.29M | -174.66M | -1.01B | |
| Net Debt Issued (Repaid) | -43.07M | -181.13M | 2.71M | 75.34M | -500.76M | |
| Issuance of Common Stock | 643.00K | 1.33M | 1.67M | 2.19M | 2.25M | |
| Repurchase of Common Stock | -9.66M | -5.47M | -17.90M | -1.11M | -11.69M | |
| Preferred Stock Issued | 110.55M | |||||
| Common Dividends Paid | -27.68M | -27.07M | -26.57M | -25.92M | -25.17M | |
| Preferred Dividends Paid | -8.91M | -8.91M | -8.91M | -3.17M | ||
| Total Dividends Paid | -36.59M | -35.98M | -35.49M | -29.09M | -25.17M | |
| Net Increase (Decrease) in Deposit Accounts | -772.86M | -112.29M | -55.12M | 174.21M | 1.01B | |
| Other Financing Activities | 8.54M | |||||
| Financing Cash Flow | -861.54M | -333.55M | -104.13M | 332.08M | 482.79M | |
| Net Cash Flow | 13.04M | -20.30M | -25.57M | -519.74M | 338.73M | |
| Free Cash Flow | 120.33M | 169.65M | 144.63M | 282.35M | 331.72M | |
| Free Cash Flow Margin | 45.39% | 66.65% | 51.59% | 86.13% | 117.84% | |
| Free Cash Flow Per Share | 5.51 | 7.80 | 6.54 | 12.61 | 14.71 | |
| Cash Interest Paid | 156.58M | 189.60M | 159.14M | 55.07M | 31.73M | |
| Cash Income Tax Paid | 1.58M | 22.54M | 25.12M | 36.51M | 7.76M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 693.97M | 456.25M | 522.20M | 593.60M | 589.62M | 545.78M |
| Last Close Price | 32.81 | 20.43 | 21.93 | 23.52 | 21.55 | 19.24 |
| PE Ratio | 14.88 | 18.23 | 11.51 | 6.14 | 6.78 | |
| PS Ratio | 2.22 | 1.72 | 2.05 | 2.12 | 1.80 | 1.94 |
| PB Ratio | 1.62 | 0.81 | 0.73 | 0.83 | 0.78 | 0.82 |
| P/FCF Ratio | 5.87 | 3.79 | 3.08 | 4.10 | 2.09 | 1.65 |
| P/OCF Ratio | 5.72 | 3.63 | 2.96 | 3.87 | 2.06 | 1.63 |
| Debt / Equity Ratio | 1.10 | 0.79 | 0.69 | 0.94 | 0.89 | 0.88 |
| Debt / FCF Ratio | 3.71 | 2.89 | 4.65 | 2.38 | 1.77 | |
| Net Debt / Equity Ratio | 0.91 | 0.56 | 0.52 | 0.75 | 0.67 | -0.15 |
| Net Debt / FCF Ratio | 2.62 | 2.19 | 3.72 | 1.81 | -0.30 | |
| Return on Equity (ROE) | 10.45% | -19.47% | 5.34% | 8.30% | 14.09% | 12.65% |
| Return on Assets (ROA) | 0.85% | -1.77% | 0.50% | 0.78% | 1.31% | 1.14% |
| Earnings Yield | 6.72% | -27.24% | 7.29% | 10.30% | 17.00% | 14.90% |
| FCF Yield | 17.05% | 26.37% | 32.49% | 24.36% | 47.89% | 60.78% |
| Dividend Yield | 3.96% | 5.85% | 5.10% | 4.36% | 4.37% | 4.52% |
| Payout Ratio | 58.86% | 94.59% | 58.03% | 29.02% | 30.95% | |
| Buyback Yield / Dilution | 2.13% | -0.44% | 1.75% | 1.21% | 0.67% | 3.42% |
| Total Shareholder Return | 6.16% | 5.41% | 6.85% | 5.57% | 5.04% | 7.95% |