MSBI

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Midland States Bancorp, Inc.

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Key Metrics

Previous Close: $32.31
52-Week Range: $14.24 – $35.10
Market Cap: $675.07M
P/E (TTM): 20.72
EPS (TTM): 1.57
Dividend Yield: 4.09%

Advanced Metrics

Price/Book: 1.47
PEG Ratio: 1.41
Return on Equity: 7.52%
Return on Assets: 0.62%
Gross Margin: 0.00%
Operating Margin: 35.57%
Profit Margin: 15.03%
Current Ratio: —
Debt/Equity: —
Total Debt: $355.42M
Free Cash Flow: —
Revenue Growth: 18.00%
Earnings Growth: 86.00%
Enterprise Value: $838.95M

MSBI Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$380.49M	$340.22M	$356.27M	$290.36M
Selling, General & Admin	$96.96M	$101.38M	$102.84M	$118.40M
Pretax Income	$131.39M	$87.96M	$46.90M	-$114.87M
Income Tax	$31.15M	$26.81M	$8.86M	$9.41M
Net Income	$100.24M	$61.16M	$38.04M	-$124.28M
Diluted EPS	4.28	2.33	-1.05	1.01
Diluted Shares	22.40M	22.12M	21.74M	21.90M

MSBI Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$153.34M	$134.21M	$114.06M	$127.28M
Receivables	$512.06M	$494.54M	$402.08M	$71.62M
Total Assets	$7.86B	$7.79B	$7.51B	$6.51B
Long-Term Debt	$459.77M	$403.55M	$335.75M	$320.02M
Total Debt	$602.08M	$604.41M	$423.25M	$380.20M
Total Liabilities	$7.10B	$7.07B	$6.80B	$5.95B
Retained Earnings	$282.40M	$245.64M	$247.70M	$86.83M
Shareholders' Equity	$758.57M	$715.11M	$710.85M	$565.50M
Net Debt	$448.74M	$470.20M	$309.19M	$252.92M

MSBI Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$285.82M	$153.36M	$176.55M	$125.68M
Capital Expenditure	-$3.47M	-$8.73M	-$6.90M	-$5.35M
Free Cash Flow	$282.35M	$144.63M	$169.65M	$120.33M
Depreciation & Amortisation	$14.38M	$12.72M	$13.16M	$11.95M
Stock-Based Compensation	$2.21M	$2.49M	$3.03M	$2.91M
Investing Cash Flow	-$1.14B	-$74.80M	$136.71M	$748.90M
Financing Cash Flow	$332.08M	-$104.13M	-$333.55M	-$861.54M
Dividends Paid	-$29.09M	-$35.49M	-$35.98M	-$36.59M
Share Repurchases	-$1.11M	-$17.90M	-$5.47M	-$9.66M
Net Change in Cash	-$519.74M	-$25.57M	-$20.30M	$13.04M

MSBI Income statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Revenue	$78.85M	$78.14M	$59.40M	$75.12M	$79.16M
Selling, General & Admin	$28.39M	$29.36M	$31.97M	$27.93M	$29.35M
Pretax Income	$14.87M	$11.31M	-$3.25M	$24.11M	$25.78M
Income Tax	$2.84M	$3.76M	-$360.00K	$5.65M	$5.89M
Net Income	$12.02M	$7.56M	-$2.89M	$18.46M	$19.89M
Diluted EPS	0.44	0.24	-0.24	0.74	0.82
Diluted Shares	21.82M	21.86M	21.85M	21.30M	21.07M

MSBI Balance Sheet statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Cash & Equivalents	$175.90M	$165.67M	$127.28M	$113.02M	$298.24M
Receivables	$356.81M	$316.61M	$71.62M	$67.01M	$58.22M
Total Assets	$7.11B	$6.91B	$6.51B	$6.55B	$6.70B
Long-Term Debt	$340.76M	$340.01M	$320.02M	$265.02M	$285.03M
Total Debt	$431.41M	$546.78M	$380.20M	$418.45M	$285.03M
Total Liabilities	$6.53B	$6.33B	$5.95B	$5.99B	$6.13B
Retained Earnings	$100.72M	$99.04M	$86.83M	$96.17M	$107.03M
Shareholders' Equity	$573.71M	$584.00M	$565.50M	$558.95M	$569.69M
Net Debt	$255.52M	$381.11M	$252.92M	$305.43M	—

MSBI Cash Flow statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Operating Cash Flow	$28.06M	$79.98M	-$7.06M	$16.97M	$29.47M
Capital Expenditure	-$1.39M	-$1.37M	-$740.00K	-$619.00K	-$276.00K
Free Cash Flow	$26.67M	$78.61M	-$7.80M	$16.35M	$29.20M
Depreciation & Amortisation	$3.00M	$2.91M	$2.92M	$2.71M	$2.69M
Stock-Based Compensation	$750.00K	$651.00K	$728.00K	$939.00K	$581.00K
Investing Cash Flow	$229.47M	$145.24M	$334.73M	-$68.35M	$25.57M
Financing Cash Flow	-$182.94M	-$235.67M	-$366.01M	$37.23M	$130.04M
Dividends Paid	-$9.01M	-$9.25M	-$9.32M	-$9.12M	-$9.03M
Share Repurchases	$0.00	$0.00	-$9.66M	-$7.92M	-$2.74M
Net Change in Cash	$74.58M	-$10.44M	-$38.34M	-$14.15M	$185.09M

Market Snapshot

About

Midland States Bancorp, Inc. is a community-based financial holding company serving clients across Illinois and surrounding states. The company provides commercial and consumer banking services, wealth management, and mortgage lending through its network of branches. It focuses on relationship banking with businesses, agricultural operations, and retail customers.