Financial Results Announcement - Midland States Bancorp, Inc. will issue its second quarter 2025 financial results after market close on July 24, 2025 [1] - An investor presentation will accompany the financial results and will be available on the company's investor relations website [1] Company Overview - Midland States Bancorp, Inc. is a community-based financial holding company headquartered in Effingham, Illinois [2] - The company is the sole shareholder of Midland States Bank and had total assets of approximately $7.28 billion as of March 31, 2025 [2] - The Wealth Management Group of the company had assets under administration of approximately $4.10 billion [2] - 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 [2]

NEW YORK, July 09, 2025 (GLOBE NEWSWIRE) -- OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced Somerset Trust Holding Company (OTCQX: SOME) (the "Company"), the holding company of Somerset Trust Company, has qualified to trade on the OTCQX® Best Market. Somerset Trust Holding Company upgraded to OTCQX from the Pink® market. Somerset Trust Holding Company begins trading today on OTCQX under the symbol "SOME." U.S. investor ...

Core Viewpoint - Midland States Bancorp, Inc. reported preliminary results for the first quarter of 2025, indicating ongoing evaluations of accounting and financial reporting related to third-party lending and servicing arrangements, which may lead to restated financial statements for 2024 [1][2]. Preliminary Financial Results - The preliminary results reflect updated accounting methodologies for third-party lending and servicing arrangements, with actual results potentially differing materially from these preliminary figures [2]. - Net income available to common shareholders for Q1 2025 was $12.6 million, or $0.57 per diluted share, with pre-tax, pre-provision earnings of $27.0 million, or $1.12 per diluted share [7][17]. Asset Quality and Credit Trends - As of March 31, 2025, nonperforming loans totaled $140.0 million, with net charge-offs of $16.9 million, including $11.1 million from fully reimbursed charge-offs related to third-party lending programs [11][12]. - The company reported no significant new substandard or nonperforming loans during the quarter, and substandard accruing loans decreased slightly to $75.7 million [11][12]. Loan and Deposit Portfolio - Total loans decreased to $5.02 billion, with a notable decrease in the Specialty Finance loan portfolio by $159.3 million due to tightened credit standards [12]. - Total deposits were $5.94 billion, reflecting a decrease of $260.8 million from the previous quarter, with retail deposits increasing by $96.8 million [12]. Profitability and Capital Ratios - The net interest margin for Q1 2025 was reported at 3.48%, with a continued decline in the cost of funding to 2.29% [14]. - The company exceeded all regulatory capital requirements under Basel III, with total capital to risk-weighted assets at 13.77% [18]. Wealth Management and Noninterest Income - Wealth management revenue totaled $7.4 million for Q1 2025, with assets under administration at $4.10 billion [12]. - Noninterest income for the quarter was $17.8 million, impacted by losses on limited partnership investments and credit enhancements [16][21].