Loading...
•
Mar 31, 2020
Midland States Q1 2020 Earnings Report
Reported net income impacted by MSR impairment, integration expenses, and CECL adoption.
Key Takeaways
Midland States Bancorp reported a net income of $1.5 million, or $0.06 diluted earnings per share, for the first quarter of 2020. The results were affected by an $8.5 million impairment on commercial mortgage servicing rights, $1.0 million in integration and acquisition expenses, and additional provision for credit losses on loans due to the adoption of the new CECL accounting standard.
Net income was $1.5 million, or $0.06 diluted earnings per share.
Impacted by an $8.5 million impairment on commercial mortgage servicing rights and $1.0 million in integration and acquisition expenses.
Net interest margin for the first quarter of 2020 was 3.48%.
Total loans outstanding were $4.38 billion at March 31, 2020.
Midland States
Midland States
Midland States Revenue by Segment
Revenue by Segment
Wealth Management Revenue
CapyFin.comCommercial FHA Revenue
CapyFin.com Forward Guidance
While the duration of the pandemic and the timing and strength of the eventual economic recovery remain uncertain, we believe we are well positioned from a capital and liquidity standpoint to play a critical role in supporting our communities as we work together to manage through this crisis