Midland States Bancorp Q1 net income $19.5M ($0.86 EPS); loans up 3% annualized

Midland States Bancorp, Inc.

2023-Q1 EPS reported $0.86

Net income $19.5M ($0.86 EPS) vs $29.7M ($1.30) Q4 2022 and $20.7M ($0.92) Q1 2022.
Total loans grew $47.8M (3% annualized) to $6.35B; consumer loans fell $61.1M as GreenSky program winds down.
Deposits up $60.5M (3.8% annualized) to $6.43B; uninsured deposits 21% of total; no extraordinary measures.
Net interest margin (tax-equivalent) 3.39% vs 3.50% prior quarter; cost of deposits rose 47 bps to 1.70%.
Tangible book value $21.87/share, up 4.4%; bought back 124,266 shares at $22.54; $22.2M remaining.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Midland States Bancorp, Inc. reported first quarter of 2023 results: net income $19.5 million, EPS $0.86 per diluted share.

Period: first quarter of 2023
Net income: $19.5 million
EPS: $0.86 per diluted share
Result: reported results

Exact text from the filing

Midland States Bancorp, Inc. (Nasdaq: MSBI) (the “Company”) today reported net income available to common shareholders of $19.5 million, or $0.86 per diluted share, for the first quarter of 2023 compared to $29.7 million, or $1.30 per diluted share, for the fourth quarter of 2022.

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Source: SEC EDGAR

accession 0001466026-23-000012

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