Quarterly ResultApr 23, 2026, 04:13 PM
Midland States Bancorp Q1 EPS $0.74, Returns to Profit
AI Summary
Midland States Bancorp, Inc. reported net income available to common shareholders of $16.2 million, or $0.74 per diluted share, for the first quarter of 2026, a significant improvement from losses in previous quarters. The company achieved a net interest margin of 3.91% and saw credit metrics improve, with nonperforming assets declining. Management expressed optimism, noting a solid start to the year driven by efforts to strengthen credit quality and reduce portfolio risk.
Key Highlights
- Net income available to common shareholders was $16.2 million, or $0.74 per diluted share.
- Net interest margin expanded to 3.91% from 3.74% in the prior quarter.
- Nonperforming assets to total assets decreased 10 basis points to 0.91%.
- Common equity tier 1 capital increased to 9.98%.
- Provision for credit losses on loans was $5.4 million, down from $11.8 million.