Loading...
•
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.
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.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...