| QUARTERLY CONDENSED FINANCIAL INFORMATION (UNAUDITED) |
Note 27 – Quarterly Condensed Financial Information (Unaudited)
The following tables present the unaudited quarterly condensed financial information for the years ended December 31, 2016 and 2015 (in thousands, except for per share data):
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2016 Quarter Ended
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March 31
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June 30
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September 30
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December 31
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Interest income
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$
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27,967
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$
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32,115
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$
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31,186
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$
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29,981
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Interest expense
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3,926
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4,126
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3,921
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4,022
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Net interest income
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24,041
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27,989
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27,265
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25,959
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Provision for loan losses
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1,125
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629
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1,392
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2,445
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Net interest income after provision for loan losses
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22,916
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27,360
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25,873
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23,514
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Noninterest income
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12,618
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14,016
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14,937
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30,486
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Noninterest expense
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27,639
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30,903
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28,663
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34,093
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Income before income taxes
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7,895
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10,473
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12,147
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19,907
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Income taxes
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2,777
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3,683
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4,102
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8,327
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Net income
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5,118
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6,790
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8,045
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11,580
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Less: net (loss) income attributable to noncontrolling interest in subsidiaries
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(1)
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1
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(6)
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(3)
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Net income attributable to Midland States Bancorp, Inc.
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$
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5,119
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$
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6,789
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$
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8,051
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$
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11,583
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Per common share data:
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Basic earnings per common share
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$
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0.43
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$
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0.51
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$
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0.51
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$
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0.74
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Diluted earnings per common share
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0.42
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0.50
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0.51
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0.72
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2015 Quarter Ended
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March 31
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June 30
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September 30
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December 31
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Interest income
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$
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27,305
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$
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31,242
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$
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28,949
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$
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30,300
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Interest expense
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2,604
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2,925
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3,512
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3,848
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Net interest income
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24,701
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28,317
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25,437
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26,452
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Provision for loan losses
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997
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2,379
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6,699
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1,052
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Net interest income after provision for loan losses
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23,704
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25,938
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18,738
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25,400
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Noninterest income
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18,022
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14,197
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14,464
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12,799
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Noninterest expense
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31,546
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30,703
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27,823
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27,692
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Income before income taxes
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10,180
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9,432
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5,379
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10,507
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Income taxes
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3,590
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2,762
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1,928
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2,811
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Net income
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6,590
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6,670
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3,451
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7,696
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Less: net income attributable to noncontrolling interest in subsidiaries
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59
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17
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6
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1
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Net income attributable to Midland States Bancorp, Inc.
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$
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6,531
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$
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6,653
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$
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3,445
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$
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7,695
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Per common share data:
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Basic earnings per common share
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$
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0.55
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$
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0.56
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$
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0.29
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$
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0.64
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Diluted earnings per common share
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0.54
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0.55
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0.28
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0.63
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