Financial Performance - Net income available to common shareholders for Q1 2025 was $12.6 million, or $0.57 per diluted share[6] - Pre-tax, pre-provision earnings for Q1 2025 were $27.0 million, or $1.12 per diluted share[6] - Net income available to common shareholders for the same period was $12,571,000, resulting in basic and diluted earnings per share of $0.57[29] - The company reported pre-tax, pre-provision earnings of $27,024,000 for the three months ended March 31, 2025[33] Loan and Asset Management - Total loans as of March 31, 2025, were $5.02 billion, a decrease of $149.5 million from December 31, 2024[12] - Nonperforming loans were $140.0 million, representing 2.79% of total loans as of March 31, 2025[10] - Net charge-offs for Q1 2025 were $16.9 million, with $11.1 million fully reimbursed related to third-party lending programs[11] - Total loans as of March 31, 2025, were $5,018,053,000, with a provision for credit losses on loans of $8,250,000[29] - The loan portfolio mix included $2,592,325,000 in commercial real estate loans as of March 31, 2025[31] Deposits and Interest - Total deposits were $5.94 billion as of March 31, 2025, a decrease of $260.8 million from December 31, 2024[12] - Total deposits as of March 31, 2025, were $5,936,434,000, with noninterest-bearing demand deposits of $1,090,707,000[31] - Net interest income for the three months ended March 31, 2025, was $58,186,000, with interest income of $99,251,000 and interest expense of $41,065,000[29] - Net interest margin was 3.48%, with the cost of deposits declining to 2.29%[13] Wealth Management - Wealth Management revenue totaled $7.4 million in Q1 2025, with assets under administration of $4.10 billion[12] - Wealth management revenue for the three months ended March 31, 2025, was $7,350,000[29] Regulatory Compliance and Capital - The Company exceeded all regulatory capital requirements under Basel III as of March 31, 2025[18] - Tangible common equity to tangible assets ratio was 6.32% as of March 31, 2025[35] Efficiency Metrics - The efficiency ratio for the three months ended March 31, 2025, was 64.24%[34] Future Projections - The Company expects noninterest income in the near term to be approximately $17.0 million to $17.5 million[20] Total Assets - Total assets as of March 31, 2025, amounted to $7,457,753,000[27]
Midland States Bancorp(MSBI) - 2025 Q1 - Quarterly Results