Midland States Bancorp, Inc. · NASDAQ:MSBI
Midland States Bancorp — Q3 2026 Earnings Presentation
28 slides from Midland States Bancorp's earnings presentation, Oct 22, 2026
Slide 1: Midland States Bancorp Third Quarter 2026 Earnings Presentation
Midland States Bancorp, Inc. NASDAQ: MSBI Third Quarter 2026 Earnings Presentation October 22, 2026
Slide 2: Forward Looking Statements
Forward Looking Statements Forward-Looking Statements: Statements made in this presentation which are not purely historical are forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. This includes any statements regarding management’s plans, objectives, or go
Slide 3: Company Snapshot
Company Snapshot Established in 1881, Midland States Bank is an FDIC-insured, well-capitalized community bank that takes pride in maintaining strong relationships with its customers and serving the financial needs of its communities across its geographic footprint. Midland States Bank strives to sup
Slide 4: Financial Services & Banking Center Footprint
Financial Services & Banking Center Footprint Headquartered in Effingham, Illinois 42 Illinois Banking Centers 11 Missouri Banking Centers Our Community Bank is Organized into Four Regions: • Northern • Eastern • Southern • St. Louis Full Service Personal and Business Banking Solutions, including: •
Slide 5: Business and Corporate Strategy
Business and Corporate Strategy We are a community bank focused on developing deep customer relationships and building strong communities. OUR MISSION Providing a superior experience to enrich our customer's financial journey. OUR VISION We are one bank, committed to cohesive teamwork that prioritiz
Slide 6: Executive Management Team
Executive Management Team Jeffrey G. Ludwig Claire A. Stack President – CEO of Midland States Bancorp EVP, Chief Financial Officer of Midland States CEO of Midland States Bank Bancorp and Midland States Bank • Assumed Company CEO role in January 2019 after • Promoted to EVP, Chief Financial Officer
Slide 7: Building a High Performing, Tech-Forward Community Bank
Building a High Performing, Tech-Forward Community Bank Where We Are Today Where We’re Going Growing • Invest in talent and technology to grow and $6.8B $4.3B $5.6B $4.8B deepen relationships Commercial Assets Loans Deposits AUM/A Banking • Focus on higher growth St. Louis & greater Chicago markets
Slide 8: Third Quarter 2026 Highlights
Third Quarter 2026 Highlights Financial Summary Net Income Available to Common $20.6 million Diluted EPS (adjusted1) $0.95 Adjusted PPNR ROAA1 1.96% Shareholders ROAA 1.35% Efficiency Ratio1 61.3% CET1 10.4% ROATCE1 18.50% Highlights • Net interest margin increased five bps to 4.03% compared to prio
Slide 9: Strong Capital Position
Strong Capital Position Capital Ratios Strong Capital Base • Strong regulatory capital ratios at bank and holding company, well-above minimum buffers 15.2% 15.3% 15.8% 15.6% 14.3% 14.0% 13.8% 12.5% 13.4% 13.5% • CET1 of 10.4% exceeded near-term target of 10% 9.9% 9.9% 10.4% 10.4% 10.3% • Continued f
Slide 10: Creation of Shareholder Value
Creation of Shareholder Value Tangible Book Value per Share1 Common Dividends Declared Per Share TBV per share ex. AOCI CAGR: 1.5% CAGR: 6.1% $25.39 $1.30 $23.35 $23.65 $23.55 $1.26 $1.24 $21.91 $1.20 $1.16 $1.12 $1.07 $0.97 $0.88 $0.80 $0.72 $20.70 $19.79 $19.83 $19.52 $18.13 2022 2023 2024 2025 3Q
Slide 11: Loan Portfolio
Loan Portfolio • Total loans increased $39.1 million during the quarter to $4.28 billion, including net growth in the Community Bank loan portfolio • Community Bank loans increased $23.7 million, or 2.8% annualized, during the quarter, supported by continued growth in commercial clients with full ba
Slide 12: Loan Segments
Loan Segments • Community Bank loans increased $23.7 million during the quarter to $3.43 billion, with growth concentrated in our Northern and St. Louis regions • Commercial pipelines remain strong • Recently added talent across the franchise is driving quality loan relationships and commercial depo
Slide 13: Credit Management Update
Credit Management Update Continued Progress on Credit Quality and Strong Community Bank Trends Allowance for Credit Losses (ACL) Net Charge Offs – Community Bank Loans vs. Other (in millions, as of quarter-end) (in millions, as of quarter-end) $39 $101 $69 $68 $63 $61 2.07% 1.59% 1.56% $11 $9 1.47%
Slide 14: Non-Performing Asset Update
Non-Performing Asset Update (dollars in thousands) Balance Balance Balance Balance Balance Loan Segment 3Q 2025 4Q 2025 1Q 2026 2Q 2026 3Q 2026 Notes Loan 1 CRE - Multifamily - Wisconsin $ 716 $ — $ — $ — $ — Loan 2 CRE - Office - Florida 7,988 7,988 7,988 7,988 7,988 Loan 3 CRE - Multifamily - Mich
Slide 15: Total Deposits
Total Deposits • Total deposits decreased $89.8 million during the quarter, primarily reflecting $115.7 million of balance reductions in savings accounts resulting from actions taken to manage liquidity and deposit pricing • Checking and money market increased $60.3 million and $64.3 million, respec
Slide 16: Deposit Segments
Deposit Segments Deposit by Channel Highlights (in millions, as of quarter-end) 3Q 2026 2Q 2026 3Q 2025 • Community Bank deposits decreased, driven largely by Retail $ 2,890 $ 3,003 $ 2,791 balance reductions in retail resulting from actions taken to manage liquidity and deposit pricing, partially o
Slide 17: Neutral Rate Positioning Supports Margin Stability
Neutral Rate Positioning Supports Margin Stability • Bank well positioned for rate changes with modest liability sensitive position: • 33% of assets reprice within 3 months as of September 30, 2026 • 72% of our liabilities reprice within 3 months as of September 30, 2026 with a modeled beta of 35-40
Slide 18: Strong Liquidity
Strong Liquidity Liquidity Position Abundant Excess Liquidity 1.76x Liquidity Coverage • $4.31 billion total insured deposits $2,288 $305 • 20.10% liquidity on balance sheet (Cash & Investment Securities) $700 • Stable insured deposit base, brokered time deposits less than 1% of total deposits as of
Slide 19: Noninterest Income
Noninterest Income • Noninterest income was $23.2 million for the third quarter of 2026 compared to $23.8 million for the second quarter of 2026. • Wealth Management revenue was relatively flat compared to prior quarter • Third-party lending arrangements are expected to result in credit enhancement
Slide 20: Wealth Management Contribution
Wealth Management Contribution Quarterly Performance: • Assets under administration remained stable at $4.77 billion compared to prior quarter • Wealth Management fees were relatively flat at $8.7 million compared to prior quarter • Referrals in 3Q were relatively flat compared to prior quarter and
Slide 21: Noninterest Expense and Operating Efficiency
Noninterest Expense and Operating Efficiency Noninterest Expense & Efficiency Ratio1 Highlights (in millions) • Efficiency Ratio1 was 61.3% in 3Q 2026 vs. 60.6% in 2Q 2026 $77.2 • Investing in talent and technology to drive growth and $49.8 $50.4 $50.8 $52.8 operational efficiencies • Near-term quar
Slide 22: Financial Outlook
Financial Outlook • Continue growing high-quality Community Bank relationships • Expand Wealth Management and fee income • Continue reducing non-core portfolios and credit costs • Build capital while maintaining strong profitability • Drive operating leverage through technology and process improveme
Slide 23: Appendix
Appendix Midland [=]
Slide 24: Third Quarter 2026 Results
Third Quarter 2026 Results As of and for the Three Months Ended September 30, June 30, March 31, December 31, September 30, (dollars in millions, except for per share data) 2026 2026 2026 2025 2025 Net interest income $ 62.7 $ 59.6 $ 57.4 $ 58.7 $ 61.1 Provision for credit losses 3.7 6.8 5.0 11.6 20
Slide 25: Non-GAAP Reconciliations (unaudited)
Non-GAAP Reconciliations (unaudited) Adjusted Earnings Reconciliation For the Three Months Ended September 30, June 30, March 31, December 31, September 30, (dollars in thousands, except per share data) 2026 2026 2026 2025 2025 Income (loss) before income tax expense (benefit) - GAAP $ 29,381 $ 25,7
Slide 26: Non-GAAP Reconciliations (unaudited)
Non-GAAP Reconciliations (unaudited) Return on Average Tangible Common Equity For the Three Months Ended September 30, June 30, March 31, December 31, September 30, (dollars in thousands) 2026 2026 2026 2025 2025 Net income available to common shareholders $ 20,579 $ 17,660 $ 16,235 $ (5,116) $ 5,32
Slide 27: Non-GAAP Reconciliations (unaudited)
Non-GAAP Reconciliations (unaudited) Tangible Common Equity to Tangible Assets Ratio and Tangible Book Value Per Share As of September 30, June 30, March 31, December 31, September 30, (dollars in thousands, except per share data) 2026 2026 2026 2025 2025 Shareholders' Equity to Tangible Common Equi
Slide 28: Non-GAAP Reconciliations (unaudited)
Non-GAAP Reconciliations (unaudited) Tangible Book Value Per Share (by year) As of December 31, September 30, (dollars in thousands, except per share data) 2022 2023 2024 2025 2026 Shareholders' Equity to Tangible Common Equity Total shareholders' equity—GAAP $ 696,139 $ 715,113 $ 710,847 $ 565,499
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