Quarterly ResultApr 30, 2026, 04:24 PM
MSBI Q1 Net Income $18.46M; EPS $0.74; No Goodwill Impairment
AI Summary
Midland States Bancorp, Inc. reported a net income of $18.46 million for Q1 2026, a significant improvement from a net loss of $140.97 million in Q1 2025. Basic earnings per common share rose to $0.74 from a loss of $6.58 in the prior year. This turnaround was primarily driven by a substantial reduction in noninterest expense, largely due to the absence of goodwill impairment charges, which were $153.98 million in Q1 2025. The company also saw a decrease in provision for credit losses and an increase in noninterest income.
Key Highlights
- Q1 2026 Net Income $18.46 million, swinging from $(140.97) million loss in Q1 2025.
- Q1 2026 Basic EPS $0.74, swinging from $(6.58) loss in Q1 2025.
- Goodwill impairment was $0 in Q1 2026, compared to $153.98 million in Q1 2025.
- Provision for credit losses decreased to $5.00 million in Q1 2026 from $10.85 million.
- Total noninterest income increased to $22.12 million in Q1 2026 from $17.76 million.
- Total assets grew to $6.55 billion as of March 31, 2026, from $6.51 billion.
- Total deposits increased to $5.44 billion as of March 31, 2026, from $5.42 billion.
- Total loans were $4.34 billion as of March 31, 2026, a slight decrease from $4.35 billion.
Price Impact
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