Midland States Bancorp, Inc. Announces 2026 Second Quarter Results

About this update from Midland States Bancorp, Inc.

[{"type":"text","content":"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 ResultsNet 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 w...

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