{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-25-039515","form_type":"8-K","ticker":"MSBI","cik":"0001466026","company_name":"Midland States Bancorp, Inc.","filed_at":"2025-04-25T23:59:59+00:00","discovered_at":"2026-05-14T18:02:48.376791+00:00","generated_at":"2026-05-23T05:48:08.155664+00:00","sec_items":["4.02","7.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Midland States Bancorp restates 2022-2024 financials; sells $330M GreenSky portfolio","bullets":["Audit committee concludes financials for 2022-2024 and 2024 interim periods should no longer be relied upon due to accounting errors in third-party loan origination programs.","Errors involve accounting for credit enhancement payments; payments will now be recorded gross with a credit indemnification derivative; net income affected by timing differences.","Material weaknesses in internal control over financial reporting identified for the affected periods; remediation plan to be detailed in 2024 Annual Report.","In April 2025, closed sale of participation interests in ~$330M (89%) of GreenSky consumer loan portfolio; retains remaining portion with new servicing arrangement.","Plans abbreviated Q1 2025 earnings release on or about April 30; 2025 annual meeting scheduled after filing 2024 Annual Report."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-25-039515","json":"https://secwatch.observer/filing/0001104659-25-039515.json","markdown":"https://secwatch.observer/filing/0001104659-25-039515.md","text":"https://secwatch.observer/filing/0001104659-25-039515.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1466026/000110465925039515/0001104659-25-039515-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1466026/000110465925039515/tm2513254d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-23T05:48:08.155664+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}