Midland States Bancorp sells equipment finance portfolio to North Mill for $502M

Midland States Bancorp, Inc.

Sale closed Nov 28, 2025 for $502M cash; portfolio was $599M gross ($565M net) plus $21M operating leases.
Pre-tax loss of ~$20M expected in Q4 2025.
Proceeds to pay down ~$350M of wholesale funding; accretive to capital, neutral to earnings.
Retained ~$75M of loans/leases; total loans/leases reduced by ~$545M vs Oct 31, 2025.
Aligns with strategy to focus on core community banking; stopped originating new equipment finance loans as of Sep 30, 2025.

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