Core Viewpoint - Midland States Bancorp reported a decline in revenue and a significant loss in EPS for the quarter ended December 2024, indicating challenges in financial performance despite a slight revenue surprise over estimates [1]. Financial Performance Summary - Revenue for the quarter was $75.6 million, down 3.8% year-over-year, but exceeded the Zacks Consensus Estimate by 2.36% [1]. - EPS was reported at -$2.52, a significant drop from $0.89 in the same quarter last year, resulting in an EPS surprise of -460.00% compared to the consensus estimate of $0.70 [1]. Key Metrics Analysis - Efficiency Ratio was reported at 71.4%, significantly higher than the average estimate of 62.7% from two analysts [4]. - Average Interest-Earning Assets were $7.01 billion, slightly below the estimated $7.06 billion [4]. - Net charge-offs to average loans were reported at 7.2%, far exceeding the average estimate of 0.5% [4]. - Net Interest Margin was 3.2%, slightly above the average estimate of 3.1% [4]. - Wealth management revenue reached $7.66 million, surpassing the average estimate of $7.08 million [4]. - Service charges on deposit accounts were $3.51 million, exceeding the average estimate of $3.13 million [4]. - Net Interest Income (FTE) was $56.26 million, above the estimated $55.32 million [4]. - Residential mortgage banking revenue was $0.64 million, slightly below the average estimate of $0.68 million [4]. - Total Noninterest Income was $19.56 million, exceeding the average estimate of $18.15 million [4]. - Interchange revenue was reported at $3.53 million, below the average estimate of $3.78 million [4]. Stock Performance - Shares of Midland States Bancorp returned -0.4% over the past month, contrasting with the Zacks S&P 500 composite's +2.7% change [3]. - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3].
Compared to Estimates, Midland States Bancorp (MSBI) Q4 Earnings: A Look at Key Metrics