---
schema_version: "secwatch.filing_event.v1"
accession: "0001466026-24-000030"
form_type: "8-K"
ticker: "MSBI"
cik: "0001466026"
company_name: "Midland States Bancorp, Inc."
filed_at: "2024-07-25T23:59:59+00:00"
generated_at: "2026-05-31T16:15:24.381029+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Midland States Bancorp Q2 2024 net income falls to $4.5 million amid rising provision costs and credit deterioration

## Summary
- Net income available to common shareholders was $4.5 million ($0.20/diluted share), down from $11.7 million in Q1 2024 and $19.3 million in Q2 2023.
- Provision expense increased to $16.8 million, including $14.0 million related to credit deterioration at fintech partner LendingPoint.
- Non-performing loans rose to $112.1 million (1.92% of loans) from $105.0 million at March 31, 2024; allowance for credit losses reached 1.58%.
- Net interest margin narrowed to 3.12% from 3.18% in prior quarter; efficiency ratio worsened to 65.2% from 58.0%.
- Tangible book value per share decreased to $23.36; Company repurchased 131,372 shares at a weighted average price of $22.84.

## SEC filing metadata
- accession: 0001466026-24-000030
- form_type: 8-K
- ticker: MSBI
- cik: 0001466026
- company_name: Midland States Bancorp, Inc.
- filed_at: 2024-07-25T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1466026/000146602624000030/0001466026-24-000030-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1466026/000146602624000030/msbi-20240725.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001466026-24-000030
- JSON: https://secwatch.observer/filing/0001466026-24-000030.json
- Plain text: https://secwatch.observer/filing/0001466026-24-000030.txt

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