Midland States Bancorp, Inc. (NASDAQ:MSBI) Q1 2022 Earnings Conference Call April 29, 2022 8:30 AM ET Company Participants Tony Rossi - Financial Profiles, IR Jeff Ludwig - President and CEO Eric Lemke - CFO Conference Call Participants Terry McEvoy - Stephens Damon DelMonte - KBW Nathan Race - Piper Sandler Manuel Navas - D.A. Davidson Operator Good day, and thank you for standing by. Welcome to the Q1 2022 Midland States Bancorp Earnings Conference Call. At this time, all participants are in a listen-only ...

Midland States Bancorp, Inc. NASDAQ: MSBI 1 First Quarter 2022 Earnings Call Forward-Looking Statements. This presentation may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements expressing management's current expectations, forecasts of future events or long-term goals may be based upon beliefs, expectations and assumptions of Midland's management, and are generally identifiable by the use of words such as "believe," "expect," "anticipate," "plan ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark one) ☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2021 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from ______________ to _______________ Commission File Number 001-35272 MIDLAND STATES BANCORP, INC. (Exact name of registrant as specified in its charter) Illinois 37- ...

Midland States Bancorp, Inc. (NASDAQ:MSBI) Q4 2021 Earnings Conference Call January 28, 2022 8:30 AM ET Company Participants Jeff Ludwig - President and CEO Eric Lemke - CFO Tony Rossi - Financial Profiles, IR Conference Call Participants Terry McEvoy - Stephens, Inc. Damon DelMonte - KBW Nathan Race - Piper Sandler Manuel Navas - D.A. Davidson Operator Good day, and thank you for standing by. Welcome to the Q4 2021 Midland States Bancorp Earnings Conference Call. At this time, all participants are in a lis ...

Midland States Bancorp, Inc. NASDAQ: MSBI 1 Fourth Quarter 2021 Earnings Call Forward-Looking Statements. This presentation may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements expressing management's current expectations, forecasts of future events or long-term goals may be based upon beliefs, expectations and assumptions of Midland's management, and are generally identifiable by the use of words such as "believe," "expect," "anticipate," "pla ...

PART I. FINANCIAL INFORMATION [Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) Presents Midland States Bancorp's unaudited consolidated financial statements for Q3 and YTD 2021, covering balance sheets, income, equity, and cash flows [Consolidated Balance Sheets](index=3&type=section&id=Consolidated%20Balance%20Sheets) Total assets increased to **$7.09 billion**, driven by cash and investments, while liabilities and equity also grew due to higher deposits Consolidated Balance Sheet Highlights (Unaudited) | (dollars in thousands) | Sep 30, 2021 | Dec 31, 2020 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $662,643 | $341,640 | | Investment securities available for sale | $890,777 | $676,711 | | Total loans, net | $4,859,879 | $5,042,888 | | **Total assets** | **$7,093,959** | **$6,868,540** | | **Liabilities & Equity** | | | | Total deposits | $5,601,376 | $5,101,016 | | FHLB advances and other borrowings | $440,171 | $779,171 | | **Total liabilities** | **$6,436,115** | **$6,247,149** | | **Total shareholders' equity** | **$657,844** | **$621,391** | [Consolidated Statements of Income](index=4&type=section&id=Consolidated%20Statements%20of%20Income) Net income surged in Q3 2021 and YTD 2021, driven by lower credit provisions and reduced noninterest expense Consolidated Income Statement Highlights (Unaudited) | (dollars in thousands) | Q3 2021 | Q3 2020 | YTD 2021 | YTD 2020 | | :--- | :--- | :--- | :--- | :--- | | Net interest income | $51,396 | $49,980 | $153,374 | $145,620 | | Provision for credit losses | $(184) | $11,728 | $2,926 | $34,303 | | Noninterest income | $15,143 | $18,919 | $47,376 | $46,913 | | Noninterest expense | $41,292 | $53,901 | $129,312 | $136,962 | | **Net income** | **$19,548** | **$86** | **$58,210** | **$14,204** | | **Diluted EPS** | **$0.86** | **$0.00** | **$2.55** | **$0.59** | [Consolidated Statements of Cash Flows](index=7&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Net cash increased by **$321.0 million** YTD 2021, driven by operating cash flow, offsetting investing and financing activities Cash Flow Summary for Nine Months Ended Sep 30 (Unaudited) | (dollars in thousands) | 2021 | 2020 | | :--- | :--- | :--- | | Net cash provided by operating activities | $301,093 | $405,860 | | Net cash used in investing activities | $(85,189) | $(942,729) | | Net cash provided by financing activities | $105,099 | $603,560 | | **Net increase in cash and cash equivalents** | **$321,003** | **$66,691** | [Notes to Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) Details accounting policies and methodologies for financial statements, covering acquisitions, loan portfolio, and borrowings - On June 1, 2021, the Company acquired substantially all trust assets of ATG Trust Company for **$2.7 million** in cash, adding approximately **$399.7 million** in assets under management and recording **$2.1 million** in customer relationship intangibles[31](index=31&type=chunk)[93](index=93&type=chunk) - The outstanding balance of loan modifications made as a result of COVID-19 decreased significantly from **$209.1 million** at year-end 2020 to **$34.3 million** at September 30, 2021[70](index=70&type=chunk) - Subsequent to the reporting period, on October 22, 2021, the Company prepaid FHLB advances totaling **$130.0 million**, incurring prepayment fees of **$4.9 million**, and terminated a **$50.0 million** interest rate swap, recognizing a gain of **$1.8 million**[141](index=141&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=43&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses financial condition and results, highlighting key developments, performance drivers, and balance sheet changes [Significant Developments and Transactions](index=43&type=section&id=MD%26A%20-%20Significant%20Developments%20and%20Transactions) Outlines key events affecting comparability, including COVID-19 impact, tax benefit, and the ATG Trust acquisition - COVID-19 related loan deferrals decreased from **$107.3 million** (**2.2%** of total loans) at June 30, 2021, to **$34.3 million** (**0.7%** of total loans) at September 30, 2021[150](index=150&type=chunk) - A tax settlement in Q2 2021 resulted in a **$6.8 million** tax benefit, partially offset by **$3.6 million** in related expenses, for a net after-tax gain of approximately **$2.9 million**[150](index=150&type=chunk) - The company redeemed **$31.1 million** of subordinated notes in June 2021, which had an interest rate of **4.54%**[152](index=152&type=chunk) [Results of Operations](index=45&type=section&id=MD%26A%20-%20Results%20of%20Operations) Net income surged in Q3 2021 due to higher net interest income, lower credit provisions, and reduced noninterest expenses Net Interest Margin Analysis (Tax-Equivalent) | | Q3 2021 | Q3 2020 | | :--- | :--- | :--- | | Net Interest Income (in thousands) | $51,798 | $50,410 | | Average Earning Assets (in thousands) | $6,158,360 | $6,020,018 | | **Net Interest Margin** | **3.34%** | **3.33%** | - The provision for credit losses was a benefit of **$0.2 million** in Q3 2021, compared to an expense of **$11.7 million** in Q3 2020, primarily due to favorable changes in the loan portfolio mix and improved economic forecasts[182](index=182&type=chunk)[183](index=183&type=chunk) - Noninterest expense decreased by **$12.6 million** YoY for Q3 2021, largely because the prior-year quarter included a **$12.7 million** impairment charge related to facilities optimization[190](index=190&type=chunk) [Financial Condition](index=54&type=section&id=MD%26A%20-%20Financial%20Condition) Total assets grew to **$7.09 billion**, deposits increased to **$5.60 billion**, while total loans decreased to **$4.92 billion** Loan Portfolio Composition | (dollars in thousands) | Sep 30, 2021 | Dec 31, 2020 | | :--- | :--- | :--- | | Total commercial loans | $3,230,140 | $3,384,285 | | Residential real estate | $344,414 | $442,880 | | Consumer | $928,570 | $866,102 | | Lease financing | $412,430 | $410,064 | | **Total loans, gross** | **$4,915,554** | **$5,103,331** | - The allowance for credit losses on loans decreased to **$55.7 million** (**1.13%** of total loans) at September 30, 2021, from **$60.4 million** (**1.18%** of total loans) at December 31, 2020[209](index=209&type=chunk) - Total deposits increased by **$500.4 million** since year-end 2020, driven by a **$225.6 million** increase in commercial deposits and a **$62.1 million** increase in retail deposits[237](index=237&type=chunk) [Capital Resources and Liquidity Management](index=62&type=section&id=MD%26A%20-%20Capital%20Resources%20and%20Liquidity%20Management) Shareholders' equity increased to **$657.8 million**, supported by net income and an extended stock repurchase program - The Board of Directors increased the stock repurchase program authority to **$75.0 million** and extended it to December 31, 2022, with approximately **$24.9 million** of authority remaining as of September 30, 2021[245](index=245&type=chunk)[246](index=246&type=chunk) Regulatory Capital Ratios as of September 30, 2021 | Ratio | Actual (Company) | Minimum Requirement | | :--- | :--- | :--- | | Total risk-based capital | 13.10% | 10.50% | | Tier 1 risk-based capital | 9.73% | 8.50% | | Common equity tier 1 | 8.55% | 7.00% | | Tier 1 leverage | 8.16% | 4.00% | [Quantitative and Qualitative Disclosures about Market Risk](index=65&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) Discusses market risk, primarily interest rate risk, using NII at Risk and EVE models, showing asset sensitivity Net Interest Income (NII) at Risk Sensitivity (as of Sep 30, 2021) | Immediate Rate Change | Dollar Change (in thousands) | Percent Change | | :--- | :--- | :--- | | -100 bps | $(6,747) | (3.4)% | | +100 bps | $5,078 | 2.6% | | +200 bps | $9,000 | 4.5% | Economic Value of Equity (EVE) Sensitivity (as of Sep 30, 2021) | Immediate Rate Change | Dollar Change (in thousands) | Percent Change | | :--- | :--- | :--- | | -100 bps | $(93,797) | (14.6)% | | +100 bps | $39,917 | 6.2% | | +200 bps | $69,670 | 10.8% | [Controls and Procedures](index=69&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded disclosure controls and procedures were effective, with no material changes to internal controls - The President and Chief Executive Officer and the Chief Financial Officer concluded that the Company's disclosure controls and procedures were **effective** as of the end of the reporting period[278](index=278&type=chunk) - **No changes** in internal control over financial reporting occurred during the quarter that have materially affected, or are reasonably likely to materially affect, the Company's internal controls[279](index=279&type=chunk) PART II. OTHER INFORMATION [Legal Proceedings](index=69&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in routine legal actions, with no material pending proceedings expected to impact operations - There are **no material pending legal proceedings** to which the Company or any of its subsidiaries is a party[281](index=281&type=chunk) [Risk Factors](index=69&type=section&id=Item%201A.%20Risk%20Factors) **No material changes** have occurred in the risk factors since the last Annual Report on Form 10-K - **No material changes** have occurred in the risk factors since the last Annual Report on Form 10-K[283](index=283&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=70&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) Details Q3 2021 common stock repurchases and the modified repurchase program, with 210,407 shares bought Issuer Purchases of Equity Securities (Q3 2021) | Period | Total Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | July 1 - 31, 2021 | 53,917 | $24.88 | | August 1 - 31, 2021 | 102,730 | $24.95 | | September 1 - 30, 2021 | 53,760 | $24.94 | | **Total** | **210,407** | **$24.93** | - On September 7, 2021, the Board increased the stock repurchase authority to **$75.0 million** and extended the program to December 31, 2022, with approximately **$24.9 million** of repurchase authority remaining as of September 30, 2021[288](index=288&type=chunk) [Exhibits](index=71&type=section&id=Item%206.%20Exhibits) Lists exhibits filed with Form 10-Q, including CEO/CFO certifications and iXBRL formatted financial statements

Midland States Bancorp, Inc. (NASDAQ:MSBI) Q3 2021 Earnings Conference Call October 29, 2021 8:30 AM ET Company Participants Tony Rossi - Financial Profiles Jeff Ludwig - President and CEO Eric Lemke - CFO Conference Call Participants Terry McEvoy - Stephens, Inc. Michael Perito - KBW Nathan Race - Piper Sandler Operator Ladies and gentlemen, thank you for standing by, and welcome to the Q3 2021 Midland States Bancorp Earnings Conference Call. At this time, all participants are in a listen-only mode. After ...

1 Midland States Bancorp, Inc. NASDAQ: MSBI Investor Presentation September 2021 Forward‐Looking Statements. This presentation may contain forward‐looking statements within the meaning of the federal securities laws. Forward‐looking statements expressing management's current expectations, forecasts of future events or long‐term goals may be based upon beliefs, expectations and assumptions of Midland's management, and are generally identifiable by the use of words such as "believe," "expect," "anticipate," " ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________ to _______________ Commission File Number 001-35272 MIDLAND STATES BANCORP, INC. (Exact name of registrant as specified in its charter) (State of other jurisdic ...

Financial Data and Key Metrics Changes - The company generated net income of $20.1 million or $0.88 per diluted share, with adjusted earnings of $19.8 million or $0.86 per diluted share, marking the highest quarterly earnings in the company's history [8][10] - Return on equity was reported at 12.6% and return on tangible common equity at 17.9%, both higher than the previous quarter and above historical levels [10] - Tangible common equity ratio increased by 45 basis points, now above 7% [11] Business Line Data and Key Metrics Changes - Total loans increased at an annualized rate of 6%, excluding PPP loans and commercial FHA warehouse lines of credit [13] - Non-interest income rose nearly 18% over the prior quarter, accounting for 26% of total revenue, driven by increased debit card issuance and economic activity [14] - Wealth management revenue increased by 10% due to the acquisition of ATG Trust Company, bringing total wealth management revenues to $6.5 million for the quarter [16] Market Data and Key Metrics Changes - Total deposits decreased by $144 million, or 2.7%, primarily due to a decline in commercial FHA servicing deposits and retail deposit outflows [29] - The company reported a 51% decrease in total loan deferrals, with only $107 million remaining at June 30, representing 2.2% of total loans [19] Company Strategy and Development Direction - The company aims to strengthen capital ratios and improve profitability through strategic initiatives focused on higher return businesses and efficiency improvements [7][10] - There is an intention to evaluate small M&A opportunities as the company has made significant internal progress and is now open to transactions that enhance shareholder value [58][60] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about economic conditions improving, leading to reduced problem loans and increased loan demand [50] - The company anticipates a favorable shift in the mix of earning assets and further increases in profitability due to higher loan growth [50] Other Important Information - The company eliminated higher-cost funding sources, which will reduce annual interest expense by $3.6 million and positively impact net interest margin by approximately 10 basis points [11][12] - Non-performing loans increased by $8.6 million, primarily due to three loans from the hotel/motel portfolio, but the overall non-performing assets only increased slightly due to the sale of OREO properties [42][45] Q&A Session Summary Question: Clarification on expense guidance - Management confirmed that expenses for the third quarter could be between $41 million and $42 million, with expectations to be closer to $40 million by year-end [65][66] Question: Credit exposure on hotel/motel properties - Management indicated confidence in two of the three hotel loans, with a specific reserve of $1.2 million set aside for the third loan, which has a balance of approximately $5 million to $6 million [68][71] Question: Loan growth and consumer lending appetite - Management noted that while consumer lending is expected to contribute similarly to the second quarter, the normalization of commercial FHA lines is uncertain [72][73] Question: Fee income expectations with ATG acquisition - Management expects an additional $200,000 in related revenue in the wealth line for the back half of the year due to the ATG acquisition [81] Question: Charge-off details - Management explained that a charge-off was taken on an acquired loan due to potential fraud, and they believe they have accounted for the losses appropriately [85]