Midland States Bancorp | 8-K: FY2026 Q2 Revenue: USD 83.36 M

Revenue: As of FY2026 Q2, the actual value is USD 83.36 M.

EPS: As of FY2026 Q2, the actual value is USD 0.82, beating the estimate of USD 0.782.

EBIT: As of FY2026 Q2, the actual value is USD 25.78 M.

Net Income

Midland States Bancorp, Inc. reported net income available to common shareholders of $17.7 million for the second quarter of 2026, an increase from $16.2 million in the first quarter of 2026 and $9.8 million in the second quarter of 2025.

Operational Metrics

Return on Average Assets (annualized): 1.22% for Q2 2026, up from 1.16% in Q1 2026 and 0.67% in Q2 2025.
Return on Average Tangible Common Equity (annualized): 16.27% for Q2 2026, compared to 14.88% in Q1 2026 and 8.87% in Q2 2025.
Adjusted Pre-Provision Net Revenue to Average Assets (annualized): 2.01% for Q2 2026, up from 1.91% in Q1 2026 and 1.86% in Q2 2025.
Net Interest Margin (annualized): 3.98% for Q2 2026, an increase from 3.91% in Q1 2026 and 3.56% in Q2 2025.
Efficiency Ratio: 60.61% for Q2 2026, an improvement from 62.17% in Q1 2026 and 59.85% in Q2 2025.
Noninterest Expense to Average Assets: 3.12% for Q2 2026, down from 3.16% in Q1 2026 and 2.80% in Q2 2025.
Net Charge-offs to Average Loans (annualized): 1.17% for Q2 2026, compared to 0.64% in Q1 2026 and 2.34% in Q2 2025.
Tangible Book Value Per Share at Period End: $21.41 at June 30, 2026, up from $20.77 at March 31, 2026, and $20.68 at June 30, 2025.
Noninterest Income: $23.8 million for Q2 2026, compared to $22.1 million for Q1 2026.
Noninterest Expense: $50.8 million for Q2 2026, remaining relatively flat compared to $50.4 million for Q1 2026.
Income Tax Expense: $5.9 million for Q2 2026.
Effective Tax Rate: 22.9% for Q2 2026, compared to 23.4% for Q1 2026 and 19.1% for Q2 2025.

Loan Portfolio

Total Loans: $4.24 billion at June 30, 2026, a decrease of $94.9 million from March 31, 2026.
Community Bank Loan Portfolio: Increased $6.3 million, or 0.7% annualized, compared to the prior quarter, reaching $3,403 million.
Specialty Finance Loans: Decreased $81.4 million to $532.1 million.
Non-Core Loans: Decreased $19.7 million to $308.4 million.
Average Loan Yield: 6.31% for the quarter.
Loan Portfolio Mix (Q2 2026): $1,223 million in Commercial loans and leases, $2,297 million in Commercial real estate, $244 million in Construction and land development, $348 million in Residential real estate, and $132 million in Consumer loans.

Deposit Portfolio

Total Deposits: $5.71 billion at June 30, 2026, an increase of $267.2 million from March 31, 2026.
Retail Deposits: Increased $98.4 million.
Commercial Deposits: Increased $116.4 million.
Public Funds: Increased $120.2 million.
Servicing Deposits: Increased $23.8 million, totaling $502.3 million.
Higher-Cost Brokered Deposits: Decreased by $100.9 million, accounting for less than 1% of total deposits.
Cost of Deposits: Decreased three basis points to 1.78% in Q2 2026, down from 1.81% in Q1 2026 and 2.19% in Q2 2025.
Deposit Mix (Q2 2026): $1,010 million in noninterest-bearing demand, $2,095 million in checking, $1,242 million in money market, $640 million in savings, $695 million in time deposits, and $25 million in brokered time deposits.
Loan to Deposit Ratio: 74.4%.

Credit Quality

Loans 30-89 Days Past Due: Decreased to $11.0 million (0.26% of total loans) at June 30, 2026, from $20.3 million (0.47% of total loans) at March 31, 2026.
Substandard Accruing Loans: Decreased by $20.4 million to $71.5 million at June 30, 2026.
Nonperforming Loans: Increased to $60.9 million (1.43% of total loans) at June 30, 2026, from $58.8 million (1.36% of total loans) at March 31, 2026.
Net Charge-offs: $12.5 million for Q2 2026, including an $8.6 million charge-off on a previously identified nonperforming commercial real estate relationship.
Provision for Credit Losses on Loans: $7.1 million for Q2 2026, a $1.7 million increase from the prior quarter.
Allowance for Credit Losses (ACL) on Loans: $62.5 million (1.47% of total loans) at June 30, 2026, compared to $67.9 million (1.56% of total loans) at March 31, 2026.
Nonperforming Assets to Total Assets: Remained flat at 0.91% in Q2 2026 compared to Q1 2026.

Capital

Common Stock Repurchased: $2.7 million (113,208 shares at a weighted average price of $24.05) during Q2 2026, with approximately $24.9 million remaining under the repurchase authority.
Total Capital to Risk-Weighted Assets: 15.77% for Midland States Bancorp, Inc. at June 30, 2026, compared to 15.27% at March 31, 2026.
Common Equity Tier 1 (CET1) Capital to Risk-Weighted Assets: 10.39% for Midland States Bancorp, Inc. at June 30, 2026, compared to 9.98% at March 31, 2026.
Tier 1 Capital Ratio: 14.0% as of Q2 2026.
Leverage Ratio: 10.4% as of Q2 2026.
Tangible Common Equity to Tangible Assets (TCE/TA) Ratio: 6.64% for the quarter.

Wealth Management

Wealth Management Revenue: $8.8 million in Q2 2026, an increase of $0.5 million compared to the prior quarter.
Assets Under Administration (AUA): $4.78 billion at June 30, 2026, an increase from $4.47 billion at March 31, 2026.
Referrals Trend: Approximately 5% increase compared to the prior quarter and a 63% increase compared to the same quarter last year.

Liquidity

Total Insured Deposits: $4.41 billion.
Liquidity on Balance Sheet (cash & investment securities): 19.4%.
Investment Securities Portfolio: Effective duration of 4.4 years and an average tax-equivalent yield of 4.25%.
Liquidity Coverage Ratio: 1.78x.

Outlook

Midland States Bancorp, Inc. is focused on disciplined growth within its Community Bank and expanding its wealth management business. The company plans to continue the balance sheet simplification through the planned runoff of specialty finance and non-core loan portfolios, aiming to reduce non-core portfolios and credit costs while building capital and maintaining strong profitability. Operational leverage is expected to be driven through technology and process improvement initiatives, with an expected effective tax rate of approximately 23% for the full year and near-term operating expense run-rate of approximately $50.0 million per quarter.