---
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"
generated_at: "2026-05-23T05:48:08.155664+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Midland States Bancorp restates 2022-2024 financials; sells $330M GreenSky portfolio

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 4.02, 7.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-039515
- JSON: https://secwatch.observer/filing/0001104659-25-039515.json
- Plain text: https://secwatch.observer/filing/0001104659-25-039515.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.