Core Viewpoint - Midland States Bancorp, Inc. received a deficiency notification from Nasdaq due to the late filing of its Annual Report on Form 10-K and Quarterly Report on Form 10-Q, indicating non-compliance with Nasdaq Listing Rule 5250(c)(1) [1][3]. Company Compliance Status - The notification does not have an immediate effect on the listing or trading of the Company's common stock on the Nasdaq Global Select Market [2]. - The Company has until June 2, 2025, to submit a plan to regain compliance with the Listing Rule, with a potential extension until September 29, 2025 [3]. Financial Reporting Evaluation - The Company is currently evaluating its accounting and financial reporting related to third-party lending and servicing arrangements, including assessing goodwill impairment [4]. Company Overview - Midland States Bancorp, Inc. is a community-based financial holding company with total assets of approximately $7.46 billion as of March 31, 2025, and its Wealth Management Group manages assets of about $4.10 billion [6].

Core Points - Midland States Bancorp, Inc. received a deficiency notification from Nasdaq for failing to timely file its Annual Report on Form 10-K for the year ended December 31, 2024 [1][3] - The company has 60 days to submit a plan to regain compliance, with a potential extension of up to 180 days until September 29, 2025 [3] - The delay in filing is due to the need for additional time to evaluate accounting and financial reporting related to a third-party lending arrangement [4] Company Overview - Midland States Bancorp, Inc. is a community-based financial holding company headquartered in Effingham, Illinois, and is the sole shareholder of Midland States Bank [6] - As of December 31, 2024, the company had total assets of approximately $7.53 billion and its Wealth Management Group had assets under administration of approximately $4.15 billion [6] - The company offers a full range of commercial and consumer banking products and services, including business equipment financing, merchant credit card services, trust and investment management, insurance, and financial planning services [6]