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Mar 31, 2021
Midland States Q1 2021 Earnings Report
Midland States Bancorp, Inc. reported a significant increase in profitability due to increased efficiencies and business model optimization.
Key Takeaways
Midland States Bancorp reported a net income of $18.5 million, or $0.81 diluted earnings per share, for the first quarter of 2021. The company saw improvements in performance metrics and capital ratios, and announced the acquisition of ATG Trust Company. Total loans outstanding were $4.91 billion, and total deposits were $5.34 billion.
Net income for Q1 2021 was $18.5 million, or $0.81 diluted earnings per share.
Net interest margin for Q1 2021 was 3.45%.
Noninterest income for Q1 2021 was $14.8 million.
Total loans outstanding at the end of Q1 2021 were $4.91 billion.
Midland States
Midland States
Forward Guidance
The company anticipates stronger loan production and loan growth throughout the year, which should enable additional operating leverage and further improvement in profitability.
Positive Outlook
- Improving economic conditions in the company's markets.
- Growing loan pipeline.
- Stronger loan production and loan growth expected.
- Redeployment of excess liquidity into higher yielding assets.
- Potential for additional operating leverage and improved profitability.