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Dec 31, 2022
Midland States Q4 2022 Earnings Report
Reported net income available to common shareholders of $29.7 million, or $1.30 per diluted share.
Key Takeaways
Midland States Bancorp reported a successful fourth quarter in 2022, with net income available to common shareholders of $29.7 million, or $1.30 per diluted share, compared to $23.1 million, or $1.02 per diluted share, for the fourth quarter of 2021.
Net income available to common shareholders was $29.7 million, or $1.30 per diluted share.
Gain on the termination of forward starting interest rate swaps was $17.5 million.
Total loans increased 7.0% annualized from prior quarter.
Tangible book value per share increased 4.0% from end of prior quarter.
Forward Guidance
Midland States Bancorp expects a relatively low level of loan growth until economic conditions improve and anticipates delivering strong results for shareholders despite a challenging macro environment.
Positive Outlook
- Well positioned to continue generating strong financial performance.
- Additional leverage from investments in talent.
- Additional leverage from investments in technology.
- Executing on long-term strategies.
- Enhance the value of the Midland franchise.
Challenges Ahead
- Maintaining conservative approach to new loan production.
- Expect a relatively low level of loan growth until economic conditions improve.
- Expect the macro environment to be challenging.
- Challenging macro environment particularly in the first half of the year.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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