secwatch.observer — SEC 8-K summary
======================================

Issuer:     Midland States Bancorp, Inc. (MSBI)
CIK:        0001466026
Form:       8-K
Filed at:   2025-04-30T23:59:59+00:00
Accession:  0001466026-25-000010
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1466026/000146602625000010/0001466026-25-000010-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1466026/000146602625000010/msbi-20250430.htm
  HTML page:      https://secwatch.observer/filing/0001466026-25-000010

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer