---
schema_version: "secwatch.filing_event.v1"
accession: "0001466026-24-000013"
form_type: "8-K"
ticker: "MSBI"
cik: "0001466026"
company_name: "Midland States Bancorp, Inc."
filed_at: "2024-04-25T23:59:59+00:00"
generated_at: "2026-06-03T07:49:29.868023+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Midland States Bancorp Q1 EPS $0.53 down 37% QoQ; NPLs double to $105M

## Summary
- Diluted EPS $0.53 vs $0.84 in Q4 2023 and $0.86 in Q1 2023; net income available to common $11.7M.
- Provision expense $14.0M (Q4: $7.0M) due to $8.0M specific reserve on a multi-family construction loan.
- Non-performing loans rose to $105.0M (1.76% of loans) from $56.4M; four loans account for $47.4M increase.
- Net interest margin 3.18%, down from 3.21% QoQ and 3.39% YoY; cost of deposits 2.49%.
- Tangible book value per share $23.44 (up 0.4% QoQ); CET1 ratio 8.60%; repurchased 73,781 shares at $26.31.

## SEC filing metadata
- accession: 0001466026-24-000013
- form_type: 8-K
- ticker: MSBI
- cik: 0001466026
- company_name: Midland States Bancorp, Inc.
- filed_at: 2024-04-25T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1466026/000146602624000013/0001466026-24-000013-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1466026/000146602624000013/msbi-20240425.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001466026-24-000013
- JSON: https://secwatch.observer/filing/0001466026-24-000013.json
- Plain text: https://secwatch.observer/filing/0001466026-24-000013.txt

## Key facts
- Earnings Releases
  Midland States Bancorp, Inc. reported first quarter of 2024 results: net income $11.7 million, EPS $0.53 per diluted share.
  - Period: first quarter of 2024
  - Net income: $11.7 million
  - EPS: $0.53 per diluted share
  - Result: reported results
  source text: Midland States Bancorp, Inc. (the “Company”) issued a press release announcing its financial results for the first quarter of 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1466026/000146602624000013/0001466026-24-000013-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.