Midland States Bancorp, Inc. (NASDAQ: MSBI)

Midland States Bancorp, Inc., often recognized by its stock symbol MSBI, operates within the banking industry, specifically as a diversified financial holding company. Its headquarters are situated in Effingham, Illinois. The company's subsidiary, Midland States Bank, offers a variety of commercial and consumer banking products and services to individuals, businesses, municipalities, and other entities across its market areas, which include Illinois and the St. Louis metropolitan area. As of December 31, 2023, Midland States Bank boasted total assets of $7.87 billion and a wealth management group with assets under administration of approximately $3.73 billion.

The primary operations of Midland States Bank revolve around its traditional community banking business, encompassing commercial and retail lending and deposit taking. The bank's offerings span a comprehensive range of banking products and services tailored to meet the needs of its diverse customer base. These include commercial loans, commercial real estate loans, construction and land development loans, residential real estate loans, consumer installment loans, and commercial equipment leasing. Additionally, the bank provides traditional depository products such as checking, savings, money market, and certificates of deposits.

Within the industry, Midland States Bank competes in several sectors including commercial and retail banking, residential mortgages, wealth management, and commercial equipment leasing. The bank faces competition from various entities, ranging from smaller community banks, thrifts, and credit unions to large banks and other financial intermediaries. These competitors include consumer finance companies, private credit funds, brokerage firms, mortgage banking companies, business leasing and finance companies, insurance companies, securities firms, mutual funds, and government agencies.

Midland States Bank's leadership and professional development programs are strategically designed to attract and retain top talent within the industry. The bank prioritizes the development of its staff through continuing and specialty education within banking, fostering a culture of continuous learning and growth. One such initiative is the Midland University training program, which provides essential education regarding regulatory matters and other key aspects of the banking industry.

The bank's commitment to maintaining robust capital levels is evident in its well-capitalized status. As of December 31, 2023, Midland States Bank maintained a common equity tier 1 capital ratio to risk-weighted assets of 6.5% or more, a Tier 1 capital ratio to total risk-weighted assets of 8% or more, a total capital ratio to total risk-weighted assets of 10% or more, and a leverage ratio of Tier 1 capital to total adjusted average quarterly assets of 5% or greater. These capital levels are subject to ongoing monitoring and review by regulatory bodies to ensure the safety and soundness of the banking system.