Midland States Bancorp Q4 net income $18.5M, EPS $0.84; tangible book value up 7.8%

Midland States Bancorp, Inc.

2023-FY EPS reported $2.97

Net income available to common of $18.5M ($0.84 diluted EPS) vs $9.2M ($0.41) in Q3; adjusted EPS $0.89.
Tangible book value per share rose 7.8% QoQ to $23.35; CET1 ratio improved to 8.40% from 8.07%.
Net interest margin (tax-equivalent) stable at 3.21% vs 3.20% Q3; total loans declined 2.4% largely due to equipment finance and consumer runoff.
Loans 30-89 days past due increased to $82.8M from $46.6M; allowance for credit losses rose to 1.12% of loans from 1.06%.
Board authorized new $25M share repurchase program effective Jan 1, 2024; 135,685 shares repurchased in Q4 at avg $21.11.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Midland States Bancorp, Inc. reported the fourth quarter of 2023 results: net income $18.5 million, EPS $0.84 per diluted share.

Period: the fourth quarter of 2023
Net income: $18.5 million
EPS: $0.84 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 $18.5 million, or $0.84 per diluted share, for the fourth quarter of 2023, compared to $9.2 million, or $0.41 per diluted share, for the third quarter of 2023.

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Source: SEC EDGAR

accession 0001466026-24-000005

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