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Dec 31, 2019
Midland States Q4 2019 Earnings Report
Reported net income with growth in loans and deposits.
Key Takeaways
Midland States Bancorp, Inc. reported a net income of $12.8 million, or $0.51 diluted earnings per share, for the fourth quarter of 2019. The quarter's business development was highlighted by growth in both loans and deposits, with a focus on developing new depository products for commercial customers.
Net income was $12.8 million, or $0.51 diluted earnings per share.
Adjusted earnings were $16.1 million, or $0.64 diluted earnings per share, excluding certain expenses and income.
Net interest margin was 3.56%, including accretion income.
Total loans outstanding were $4.40 billion, and total deposits were $4.54 billion.
Revenue by Segment
Forward Guidance
Midland States Bancorp anticipates delivering solid earnings growth and an improvement in return on assets and equity through modest balance sheet growth, realizing synergies from the HomeStar Financial Group acquisition, driving additional efficiencies, and expanding net interest margin by reducing funding costs.
Positive Outlook
- Modest balance sheet growth
- Realizing full synergies from the acquisition of HomeStar Financial Group
- Driving additional efficiencies throughout the organization
- Expanding net interest margin through a reduction in funding costs
- Well positioned to create additional value for shareholders in 2020
Historical Earnings Impact
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Avg. Return Before/After Earnings
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