Midland States Q2 net income $19.3M ($0.86 EPS); NIM narrows to 3.23%

Midland States Bancorp, Inc.

2023-Q2 EPS reported $1.72

Net income available to common $19.3M ($0.86 diluted) vs $19.5M Q1 and $21.9M year ago.
Tax-equivalent NIM 3.23% (Q1: 3.39%, Q2 2022: 3.65%); net interest income $59.0M, down 2.8% QoQ.
Loans $6.37B (+$13.1M QoQ); deposits flat at $6.43B; commercial/construction up, consumer down (GreenSky runoff).
Efficiency ratio improved to 55.0% from 57.6% Q1; noninterest expense $42.9M.
NPLs rose to 0.86% of loans (0.80% Q1); allowance at 1.02%; CET1 ratio 8.03%; TBV $22.24.

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 the second quarter of 2023 results: net income $19.3 million, EPS $0.86 per diluted share.

Period: the second quarter of 2023
Net income: $19.3 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 $19.3 million, or $0.86 per diluted share, for the second quarter of 2023

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Midland States Bancorp, Inc. filing history →

Source: SEC EDGAR

accession 0001466026-23-000021

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