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Mar 31, 2022
Midland States Q1 2022 Earnings Report
Reported net income and strong loan production, effectively managing expenses.
Key Takeaways
Midland States Bancorp reported a net income of $20.7 million, or $0.92 diluted earnings per share, for the first quarter of 2022. The company experienced strong loan production with 24% annualized growth in total loans and effectively managed expenses.
Generated strong loan production with 24% annualized growth in total loans.
Effectively managed expenses.
Net interest margin increased due to a favorable shift in the mix of earning assets.
Wealth management revenue increased 20.4% compared to Q1 2021.
Midland States
Midland States
Forward Guidance
The company anticipates continued high loan growth and expansion in net interest margin, further improving earnings and profitability throughout the year.
Positive Outlook
- Strong loan pipeline enables continued high loan growth.
- Further expansion in net interest margin expected.
- Earnings and level of profitability are expected to improve.
- New business development capabilities showing good results.
- Steady progress on long-term initiatives to enhance the value of the Midland franchise.
Challenges Ahead
- Changes in interest rates and other general economic conditions.
- Effects of the COVID-19 pandemic on the economic environment, customers, and operations.
- Changes in the financial markets.
- Risks relating to acquisitions.
- Uncertainty related to the future use and availability of some reference rates.