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Jun 30, 2022
Midland States Q2 2022 Earnings Report
Reported net income and earnings per share increase compared to the previous quarter and the same quarter last year, driven by loan growth and margin expansion.
Key Takeaways
Midland States Bancorp reported a strong second quarter with net income of $21.9 million, or $0.97 diluted earnings per share. The company saw significant loan production, resulting in 18% annualized growth in total loans and expansion in net interest margin. While a strong loan pipeline remains, the company expects loan growth to moderate in the second half of the year.
Net income increased to $21.9 million, or $0.97 diluted earnings per share.
Total loans outstanding increased to $5.80 billion.
Net interest margin increased to 3.65%.
Total deposits increased to $6.18 billion.
Forward Guidance
The Company expects loan growth to moderate in the second half of the year as it is likely that higher rates and concern about weakening economic conditions will have a greater impact on loan demand.
Positive Outlook
- Continued loan growth
- Margin expansion
- Stable expense levels
- Further improvement in earnings
- Further improvement in returns
Challenges Ahead
- Higher rates
- Concern about weakening economic conditions
- Greater impact on loan demand
- Decline in assets under administration resulting from market performance
- Decline in residential mortgage banking revenue and other income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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