Midland States Bancorp, Inc. (MSBI)

Midland States Bancorp Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	361.25	367.55	277.1	217.51	222.45	223.38
Interest Income on Investments	53.23	36.74	24.65	20.31	22.44	26.13
Total Interest Income	414.49	404.3	301.76	237.82	244.89	249.52
Interest Paid on Deposits	159.82	136.95	36.06	10.96	21.5	34.19
Interest Paid on Borrowings	30.67	31.33	19.96	19.19	24.25	25.51
Total Interest Expense	190.49	168.28	56.02	30.14	45.75	59.7
Net Interest Income	224	236.02	245.74	207.68	199.14	189.82
Net Interest Income Growth (YoY)	-7.24%	-3.95%	18.33%	4.29%	4.91%	5.40%
Trust Income	27.64	25.57	25.71	26.81	22.8	21.83
Mortgage Banking Activities	2.23	1.9	1.51	5.53	15.82	18.24
Gain (Loss) on Sale of Assets	-	-	-3.25	-0.22	-1.69	-
Gain (Loss) on Sale of Investments	-3.09	-9.37	2.08	4.73	5.13	0.77
Other Non-Interest Income	39.02	36.5	41.62	31.12	21.23	25.56
Total Non-Interest Income	78.7	66.59	77.9	77.21	71.89	77.42
Non-Interest Income Growth (YoY)	2.65%	-14.52%	0.90%	7.39%	-7.14%	9.22%
Revenues Before Loan Losses	302.69	302.61	323.64	284.88	271.03	267.24
Provision for Loan Losses	42.75	21.13	20.13	3.39	44.36	16.99
Revenue	259.94	281.48	303.51	281.49	226.67	250.25
Revenue Growth (YoY)	-13.48%	-7.26%	7.82%	24.19%	-9.42%	3.61%
Salaries and Employee Benefits	92.56	90.95	88.09	84.95	83.38	89.54
Occupancy Expenses	14.5	14.07	12.75	13.47	15.25	16.01
Federal Deposit Insurance	5.04	4.78	3.34	3.35	-	-
Amortization of Goodwill & Intangibles	4.19	4.76	5.41	5.86	6.5	7.09
Selling, General & Administrative	45.47	42.64	41.26	45.15	41.9	42.96
Other Non-Interest Expense	24.58	16.37	16.37	12.28	15.4	16.46
Total Non-Interest Expense	186.67	173.9	172.41	166.31	164.6	172.06
EBT Excluding Unusual Items	73.28	107.57	131.1	115.18	62.07	78.19
Asset Writedown	-	-	-1.26	-7.53	-12.34	-2.14
Legal Settlements	3.1	-	-	-	-	-
Other Unusual Items	-	-	-	-8.54	-4.87	-
Pretax Income	76.38	107.57	129.84	99.11	32.01	72.47
Income Tax Expense	16.56	32.11	30.81	17.8	9.48	16.69
Net Income	59.82	75.46	99.03	81.32	22.54	55.78
Preferred Dividends & Other Adjustments	9.69	9.82	4.27	0.82	0.26	0.52
Net Income to Common	50.14	65.64	94.75	80.49	22.28	55.26
Net Income Growth	-31.73%	-23.80%	21.78%	260.82%	-59.60%	41.51%
Basic Shares Outstanding	22	22	22	22	23	24
Diluted Shares Outstanding	22	22	22	23	23	24
Shares Change (YoY)	-2.39%	-1.21%	-0.67%	-3.42%	-4.68%	4.01%
EPS (Basic)	2.31	2.97	4.24	3.58	0.95	2.28
EPS (Diluted)	2.30	2.97	4.23	3.57	0.95	2.26
EPS Growth	-33.18%	-29.85%	18.51%	275.79%	-57.89%	36.17%
Dividend Per Share	1.230	1.200	1.160	1.120	1.070	0.970
Dividend Growth	3.36%	3.45%	3.57%	4.67%	10.31%	10.23%
Effective Tax Rate	21.68%	29.85%	23.73%	17.95%	29.60%	23.03%

Source: S&P Capital IQ. Banks template. Financial Sources.