Preliminary Q1 EPS $0.57; restatement for 2024 ongoing, GreenSky loan sale closed

Midland States Bancorp, Inc.

2025-Q1 EPS reported -$6.58

Net income available to common shareholders $12.6M, diluted EPS $0.57 for Q1 2025 (preliminary, unaudited).
Company expects restatement of 2024 financials; audit not yet completed due to third-party lending accounting evaluation.
Sold ~$330M (89%) of GreenSky loan portfolio in April 2025; remaining retained under new servicing agreement.
Net charge-offs $16.9M, including $11.1M fully reimbursed from third-party programs; equipment finance charge-offs $4.5M.
Community Bank loans grew $56.8M; overall loans declined $149.5M due to intentional reduction in Specialty Finance and Equipment Finance.

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