Midland States Bancorp, Inc. (MSBI) Earnings
Midland States Bancorp, Inc. is expected to report next earnings on July 23, 2026 (in NaN days), with a consensus EPS estimate of $0.78. MSBI has beaten EPS estimates in 6 of its last 11 reported quarters (average surprise -40.3% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 23, 2026 | $0.60 | $0.79 | +31.7% | $81M | +7.3% |
| Jan 22, 2026 | $0.70 | $0.53 | -24.3% | $74M | -2.3% |
| Oct 30, 2025 | $0.61 | $0.24 | -60.7% | $78M | -1.3% |
| Sep 8, 2025 | — | $0.55 | — | $118M | — |
| Jun 25, 2025 | $0.63 | $-0.05 | -107.8% | $137M | +80.3% |
| Oct 24, 2024 | $0.64 | $0.74 | +15.6% | $72M | -1.0% |
| Jul 25, 2024 | $0.72 | $0.20 | -72.2% | $71M | -4.5% |
| Apr 25, 2024 | $0.73 | $0.53 | -27.4% | $76M | +1.3% |
| Jan 25, 2024 | $0.79 | $0.89 | +12.7% | $71M | -6.1% |
| Oct 26, 2023 | $0.77 | $0.78 | +1.3% | $69M | -8.3% |
| Jul 27, 2023 | $0.80 | $0.87 | +8.7% | $76M | -0.7% |
| Apr 27, 2023 | $0.82 | $0.88 | +7.3% | $75M | -2.8% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q4 FY2022 · January 27, 2023
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- 2022 was a successful year with record earnings, return on assets and tangible equity improved. - Q4 had strong financial performance despite moderating loan growth; net income included swap gain and charges. - Loan growth: total loans up 7% annualized, commercial portfolio and Equipment Finance driving growth; community bank in Eastern Illinois and St. Louis had significant loan and deposit growth. - Net interest: margin down due to deposit cost increase, but average rate on new originations increased. - Wealth Management: assets under administration up $150 million, revenue slightly increased. - Non-interest income: included swap gain, and selling commercial mortgage servicing rights portfolio. - Non-interest expense: up due to non-recurring items; operating expense expected to be $43 - $44 million per quarter. - Asset quality: generally healthy, non-performing loans up slightly, net charge-offs low, provision for credit losses related to loan growth and economic forecasts. - 2023 priorities: accelerate exit from GreenSky partnership,推进BaaS platform建设, disciplined expense management, strengthen commercial banking team, invest in wealth management, consider strategic M&A, enhance capital ratios.
Guidance
- 2023 is challenging due to possible recession; loan growth uncertain but commercial banking team, higher growth markets, and Equipment Finance expected to drive loan growth. - Expect GreenSky balances to come down $100 - $300 million this year, with commercial and equipment business offsetting the headwind. - Wealth management revenue growth expected to offset MSR sale impact. - Goal to keep net interest margin relatively stable. - Exit from GreenSky partnership to have positive impact on liquidity and capital, cash flow can be invested profitably. - 2023 focus on adding BaaS partners for deposit gathering. - Loan deposit ratio near 100%, aim to lower it; open to strategic M&A to improve deposit base and market exposure.
Segment performance
For the full year, Midland States Bancorp generated a return on average assets of 1.31% (up from 1.18% in 2021) and a return on average tangible equity of 20.8% (up from 17.9% in 2021). In the fourth quarter, net income was $29.7 million ($1.30 per share), including a $17.5 million gain on termination of forward starting FHLB interest rate swaps and $6.7 million in charges on commercial mortgage servicing rights and impairment on other real estate owned. Total loans increased at a 7% annualized rate, with most growth in the commercial portfolio; Equipment Finance portfolio surpassed $1.1 billion. Community Bank group had solid loan growth, with Eastern Illinois loan portfolio up 22% and St. Louis up 40% for the full year, and double-digit deposit growth in these markets. Net interest income was down slightly due to a decline in net interest margin (decreased 13 basis points from prior quarter). Assets under administration in Wealth Management increased by $150 million. Non-interest income was $33.8 million in Q4, including the $17.5 million swap gain. Non-interest expense was up due to non-recurring items. Non-performing loans increased slightly, but net charge-offs were 3 basis points of average loans, and provision for credit losses on loans was $3 million.
Risks & headwinds
- Economic recession possibility impacting loan quality. - Uncertainty in GreenSky partnership exit. - Uncertainty in BaaS platform partnership推进. - Interest rate changes impacting net interest margin. - Deposit cost increase pressure. - Asset quality deterioration risk.
Analyst Q&A
Q: Good morning. Wanted to check in on the loan growth side.
A: GreenSky balances could come down $100 - $300 million this year, commercial and equipment business will help offset headwind.
Q: Maybe just jumping over to the fee income outlook.
A: Wealth management revenue expected to grow and offset MSR sale impact.
Q: Regarding the outlook for margin.
A: Near-term margin pressure from deposit costs, but stable past this month if Fed rates move as expected, equipment finance portfolio turns over quickly with rate pick up.
Q: Can you give us a little guidance on the loan loss provision outlook.
A: Expect more provision than current quarter but not dramatically more if economy mild recession.
Q: Regarding the BaaS partnerships.
A: Focus on deposit driven partnerships, slow to get first partnership right, targeting deposits with rate involved but at lower margin than Fed funds.
Q: On the loan-to-deposit ratio.
A: Ideally closer to 90%, but banking is cyclical, loans sometimes come in faster than deposits.
Q: On the equipment finance portfolio size.
A: Roughly 17% - 18% of total portfolio, would like to be between 15 - 20% on lower end.
Q: On the net interest income trend.
A: Focus on dollars, GreenSky will provide some pressure but flat move expected, and repricing of fixed rate loans at higher rates will help if Fed slows rates down.