Midland States Bancorp, Inc. (MSBI)

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Midland States Bancorp, Inc.

MSBI • CIK 0001466026

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Interest and Fee Income, Loans and Leases Held-for-sale	$260	$392	$5,232	$522
Interest Income (Expense), Net	$236,017	$236,346	$236,804	$236,825
Interest Income (Expense), after Provision for Loan Loss	$214,885	$116,014	$176,955	$193,373
Interest Income, Federal Funds Sold	$3,922	$3,958	$3,085	$3,447
Interest Income, Operating	$404,296	$426,128	$387,867	$364,787
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	$107,573	$46,900	$-114,868	$57,961
Income Tax Expense (Benefit)	$32,113	$8,856	$9,413	$14,941
Net Income (Loss) Attributable to Parent	$75,460	$38,044	$-124,281	$43,020
Interest Expense, Deposits	$136,947	$160,676	$124,271	$106,095
Interest Expense, Short-term Borrowings	$68	$1,960	$2,807	$1,967
Interest Expense, Subordinated Notes and Debentures	$5,266	$5,271	$4,554	$2,533
Interest Expense, Junior Subordinated Debentures	$5,289	$5,380	$4,810	$4,656
InterestExpenseOperating	—	$189,782	$151,063	$127,962
Interest Income, Securities, Operating, Taxable	$28,653	$49,769	$63,248	$68,794
FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal	$21,132	$119,262	$60,549	$44,842
Interest Income, Securities, Operating, Tax Exempt	$1,349	$1,511	$1,753	$1,764
Provision for Other Credit Losses	$0	$0	$-700	$-1,390
Provision for Loan, Lease, and Other Losses	$21,132	$120,332	$59,849	$43,452
Bank Owned Life Insurance Income	$4,439	$7,683	$8,564	$8,365
Debt and Equity Securities, Gain (Loss)	$-9,372	$-230	$14	$-1,717
Noninterest Income, Other	$17,756	$12,066	$8,499	$9,069
Noninterest Income	$66,590	$138,741	$88,180	$92,773
Labor and Related Expense	$93,438	$93,639	$104,400	$105,810
Occupancy, Net	$15,986	$16,785	$17,223	$17,323
Information Technology and Data Processing	$26,286	$28,160	$27,974	$28,079
Federal Deposit Insurance Corporation Premium Expense	$4,779	$5,278	$8,136	$6,561
Professional Fees	$7,049	$7,822	$9,871	$8,245
Marketing Expense	$3,158	$3,926	$5,861	$6,237
Communication	$1,741	$1,364	$1,376	$1,503
Loan Portfolio Expense	$4,206	$5,954	$6,992	$10,118
Goodwill, Impairment Loss	—	—	$153,977	$0
Amortization of Intangible Assets	$4,758	$4,008	$3,224	$2,867
Gain (Loss) on Sale of Financing Receivable	—	—	$-23,051	$-23,051
Operating Lease, Impairment Loss	—	$7,858	$684	$684
Other Noninterest Expense	$12,168	$14,628	$12,375	$12,817
Noninterest Expense	$173,902	$207,855	$380,003	$228,185
Weighted Average Number of Shares Outstanding, Basic	22,115,869	21,731,689	21,833,098	21,211,964
Weighted Average Number of Shares Outstanding, Diluted	22,124,402	21,737,958	21,833,098	21,211,964
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax	$1,556	$-1,692	$1,730	$477

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Cash and Due from Banks	$134,212	$114,055	$127,279	$298,244
Federal Funds Sold	$849	$711	$532	$503
Cash and Cash Equivalents, at Carrying Value	$135,061	$114,766	$127,811	$298,747
Marketable Securities	$915,895	$1,207,574	$1,523,001	$1,653,460
Equity Securities, FV-NI	$4,501	$4,792	$4,235	$3,853
FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss	$6,131,079	$5,167,574	$4,352,004	$4,243,704
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest	$68,502	$111,204	$69,219	$62,519
FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss	$6,062,577	$5,056,370	$4,282,785	$4,181,185
Financing Receivable, Held-for-Sale, Not Part of Disposal Group, after Valuation Allowance	$3,811	$344,947	$7,781	$8,944
Property, Plant and Equipment, Net	$82,814	$85,710	$85,134	$82,898
Other Real Estate	$9,112	$4,941	$606	$356
Interest Receivable	$24,934	$25,329	$23,824	$23,676
Servicing Asset	$20,253	$17,842	$11,932	$11,316
Goodwill	$161,904	$161,904	$7,927	$7,927
Intangible Assets, Net (Excluding Goodwill)	$16,108	$12,100	$8,876	$7,495
Cash Surrender Value of Life Insurance	$203,485	$211,168	$218,554	$222,757
Other Assets	$182,992	$208,839	$162,138	$153,696
Assets	$7,866,868	$7,506,809	$6,513,420	$6,700,616
Short-term Debt	$34,865	$87,499	$60,181	$7,645
Advances from Federal Home Loan Banks	$476,000	$258,000	$293,000	$258,000
Subordinated Debt	$93,546	$77,749	$27,019	$27,030
Junior Subordinated Debenture Owed to Unconsolidated Subsidiary Trust	$50,616	$51,205	$51,857	$52,219
Accrued Liabilities and Other Liabilities	$110,459	$124,266	$91,485	$78,756
Liabilities	$7,075,015	$6,795,962	$5,947,921	$6,130,928
Preferred Stock, Value, Issued	$110,548	$110,548	$110,548	$110,548
Common Stock, Value, Issued	$216	$215	$212	$207
Additional Paid in Capital	$435,463	$434,346	$428,247	$419,832
Retained Earnings (Accumulated Deficit)	$322,379	$247,698	$86,825	$107,032
Accumulated Other Comprehensive Income (Loss), Net of Tax	$-76,753	$-81,960	$-60,333	$-67,931
Stockholders' Equity Attributable to Parent	$791,853	$710,847	$565,499	$569,688
Noninterest-bearing Deposit Liabilities	$1,145,395	$1,055,564	$1,040,411	$1,010,128
Interest-bearing Deposit Liabilities	$5,164,134	$5,141,679	$4,383,968	$4,697,150
Deposits	$6,309,529	$6,197,243	$5,424,379	$5,707,278
Preferred Stock, Shares Authorized	4,000,000	4,000,000	4,000,000	4,000,000
Preferred Stock, Shares Issued	115,000	115,000	115,000	115,000
Common Stock, Shares Authorized	40,000,000	40,000,000	40,000,000	40,000,000
Common Stock, Shares, Issued	21,551,402	21,494,485	21,169,854	20,725,814

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$75,460	$38,044	$-124,281	$43,020
Net Cash Provided by (Used in) Operating Activities	$154,638	$176,546	$125,679	$119,364
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	$-25,570	$-20,295	$13,045	$122,160
Provision for Loan, Lease, and Other Losses	$21,132	$120,332	$59,849	$43,452
Payments to Acquire Debt Securities, Available-for-sale	$412,799	$605,169	$622,913	$798,856
Depreciation	$4,778	$4,993	$4,892	$4,866
Proceeds from Sale of Debt Securities, Available-for-sale	$191,733	$74,116	$103,758	$202,357
Goodwill, Impairment Loss	—	—	$153,977	$0
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-sale	$74,531	$233,563	$248,991	$311,677
Amortization of Intangible Assets	$4,758	$4,008	$3,224	$2,867
PaymentsToAcquireEquitySecuritiesFvNi	$286	$268	$174	$224
Operating Lease, Right-of-Use Asset, Amortization Expense	$1,635	$1,657	$1,570	$1,601
Amortization of Mortgage Servicing Rights (MSRs)	$1,550	$2,498	$2,266	$1,896
Payments for (Proceeds from) Loans and Leases	$-112,496	$-346,883	$-438,907	$-194,361
Stock or Unit Option Plan Expense	$2,489	$3,031	$2,913	$2,899
Life Insurance, Corporate or Bank Owned, Change in Value	$4,439	$7,683	$8,209	$8,353
Proceeds from Sale and Collection of Loans Receivable	—	$84,283	$517,430	$517,430
Payments to Acquire Property, Plant, and Equipment	$8,731	$6,901	$5,346	$3,008
Accretion (Amortization) of Discounts and Premiums, Investments	$2,414	$6,789	$13,696	$15,597
Proceeds from Sale of Property, Plant, and Equipment	$104	$37	$0	$195
Debt and Equity Securities, Gain (Loss)	$-9,372	$-230	$14	$-1,717
Gain (Loss) on Repurchase of Debt Instrument	$676	$231	$0	$0
Proceeds from Sale of Foreclosed Assets	$7,547	$466	$4,862	$502
Payments for (Proceeds from) Life Insurance Policies	$48,603	$0	$-1,166	$0
Payments for Origination of Mortgage Loans Held-for-sale	$58,953	$81,077	$101,211	$114,534
Net Cash Provided by (Used in) Investing Activities	$-76,080	$136,708	$748,905	$437,189
Proceeds from Sale of Mortgage Loans Held-for-sale	$98,851	$78,514	$133,534	$145,439
Gain (Loss) on Sales of Loans, Net	$2,395	$2,307	$2,560	$2,691
Operating Lease, Impairment Loss	—	$7,858	$684	$684
Increase (Decrease) in Accrued Interest Receivable, Net	$4,621	$-8,804	$-1,505	$-1,377
Increase (Decrease) in Deposits	$-55,123	$-112,286	$-772,864	$-239,641
Proceeds from (Repayments of) Short-term Debt	$-7,446	$52,634	$-27,318	$-1,009
Increase (Decrease) in Other Operating Assets	$18,731	$16,783	$-24,483	$-22,776
Increase (Decrease) in Other Operating Liabilities	$27,661	$18,022	$-40,060	$-25,084
Proceeds from FHLBank Borrowings, Financing Activities	$23,288,000	$263,000	$328,000	$125,000
Payments of FHLBank Borrowings, Financing Activities	$23,272,000	$315,000	$273,000	$110,000
Repayments of Subordinated Debt	$5,845	$15,763	$50,750	$50,750
Payments of Ordinary Dividends, Preferred Stock and Preference Stock	$8,913	$8,913	$8,913	$8,913
Payments of Ordinary Dividends, Common Stock	$26,573	$27,072	$27,679	$27,800
Payments for Repurchase of Common Stock	$17,898	$5,475	$9,658	$20,326
Proceeds, Issuance of Shares, Share-based Payment Arrangement, Including Option Exercised	$1,670	$1,326	$643	$1,046
Net Cash Provided by (Used in) Financing Activities	$-104,128	$-333,549	$-861,539	$-434,393
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$135,061	$114,766	$127,811	$139,463

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Import this data to Google Sheets with:

=jivedata("MSBI","financials")

Full statements spill as a table. For one cell: =jivedata("MSBI","Revenue") or =jivedata("MSBI","Revenue","TTM"). Install the Jive Data add-on, then paste into a cell.