Midland States Q3 net income $5.3M ($0.24/sh) vs $18.2M ($0.83) year ago; ceases equipment finance

Midland States Bancorp, Inc.

2025-Q3 EPS reported -$5.88 vs consensus $0.66 ▼ miss (-997.4%)

Net income available to common shareholders $5.3M, or $0.24 diluted EPS, vs $9.8M ($0.44) in Q2 2025 and $18.2M ($0.83) in Q3 2024.
Provision for credit losses on loans $20.5M, driven by higher loss given default assumptions in equipment finance; net charge-offs $12.3M.
Ceased equipment finance originations effective September 30, 2025, to reduce higher-risk asset exposure.
Net interest margin improved to 3.79% from 3.56% in Q2 2025; cost of deposits fell to 2.12%.
Nonperforming assets dropped to 1.02% of total assets from 2.10% at Dec 31, 2024; CET1 ratio rose to 9.37%.

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