Midland States Bancorp Q3 2023 update: $0.71 EPS, stable deposits, asset quality steady

Midland States Bancorp, Inc.

Net income available to common shareholders of $15.8M, diluted EPS $0.71; includes $0.07 loss from balance sheet repositioning.
Total loans $6.28B, down $86.5M QoQ from planned runoff in GreenSky and equipment finance; loan yield rose to 5.93%.
Total deposits essentially flat at $6.41B; loan-to-deposit ratio improved to 98% from 99%; cost of deposits rose to 2.32%.
Nonperforming loans/total loans at 0.89%, NCO/average loans at 0.22%; CET1 ratio increased 13bps to 8.16%.
GreenSky termination in Oct 2023; projected portfolio reduction to $407M by EOY 2024 from $755M at 9/30/23.

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