Midland States

Jul 23, 2020

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Jun 30, 2020

Midland States Q2 2020 Earnings Report

Reported net income and diluted earnings per share for the second quarter of 2020.

Key Takeaways

Midland States Bancorp, Inc. reported a net income of $12.6 million, or $0.53 diluted earnings per share, for the second quarter of 2020, demonstrating strong earnings driven by balance sheet growth, higher revenue, and lower expense levels despite the ongoing impact of the COVID-19 pandemic.

Saw positive trends including significant balance sheet growth, higher revenue, and lower expense levels.

Asset quality remained relatively stable during the second quarter and requests for loan deferrals have slowed considerably.

Approved over 2,300 PPP applications totaling $276.0 million in loans, supporting more than 28,000 employees.

Continue to increase allowance for credit losses and maintain strong capital and liquidity positions.

Total Revenue

$68.4M

Previous year: $65.7M