CONSOLIDATED STATEMENT OF INCOME - USD ($)
$ in Thousands |
12 Months Ended |
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
| Loans: |
|
|
|
| Taxable |
$ 105,531
|
$ 100,814
|
$ 55,514
|
| Tax exempt |
1,155
|
1,175
|
782
|
| Investment securities: |
|
|
|
| Taxable |
9,981
|
11,502
|
12,063
|
| Tax exempt |
3,634
|
3,916
|
4,604
|
| Federal funds sold and cash investments |
948
|
389
|
178
|
| Total interest income |
121,249
|
117,796
|
73,141
|
| Interest expense: |
|
|
|
| Deposits |
8,936
|
7,511
|
5,198
|
| Short-term borrowings |
303
|
237
|
179
|
| FHLB advances and other borrowings |
1,057
|
741
|
1,682
|
| Subordinated debt |
3,858
|
2,731
|
728
|
| Trust preferred debentures |
1,841
|
1,669
|
756
|
| Total interest expense |
15,995
|
12,889
|
8,543
|
| Net interest income |
105,254
|
104,907
|
64,598
|
| Provision for loan losses |
5,591
|
11,127
|
92
|
| Net interest income after provision for loan losses |
99,663
|
93,780
|
64,506
|
| Noninterest income: |
|
|
|
| Commercial FHA revenue |
22,064
|
20,175
|
|
| Residential mortgage banking revenue |
13,389
|
17,634
|
3,000
|
| Wealth management revenue |
8,091
|
7,292
|
7,098
|
| Merchant services revenue |
1,697
|
1,529
|
1,083
|
| Service charges on deposit accounts |
3,904
|
3,969
|
3,036
|
| Interchange revenue |
3,750
|
3,562
|
2,613
|
| FDIC loss-sharing expense |
(1,661)
|
(566)
|
(3,491)
|
| Gain on sales of investment securities, net |
14,702
|
193
|
77
|
| Other-than-temporary impairment on investment securities |
(824)
|
(461)
|
(190)
|
| Gain on sales of other real estate owned |
113
|
600
|
761
|
| Gain on sales of other assets |
|
|
3,224
|
| Other income |
6,832
|
5,555
|
3,230
|
| Total noninterest income |
72,057
|
59,482
|
20,441
|
| Noninterest expense: |
|
|
|
| Salaries and employee benefits |
66,293
|
63,313
|
32,503
|
| Occupancy and equipment |
13,080
|
13,151
|
7,587
|
| Data processing |
10,658
|
10,197
|
6,402
|
| FDIC insurance |
1,707
|
2,051
|
1,328
|
| Professional |
8,049
|
8,687
|
5,677
|
| Marketing |
2,733
|
2,891
|
2,530
|
| Communications |
2,150
|
2,354
|
1,541
|
| Loan expense |
1,957
|
2,960
|
1,204
|
| Other real estate owned |
935
|
945
|
2,189
|
| Amortization of intangible assets |
2,147
|
2,460
|
2,115
|
| FHLB advances prepayment fee |
|
|
1,746
|
| Other expense |
11,589
|
8,755
|
4,658
|
| Total noninterest expense |
121,298
|
117,764
|
69,480
|
| Income before income taxes |
50,422
|
35,498
|
15,467
|
| Income taxes |
18,889
|
11,091
|
4,651
|
| Net income |
31,533
|
24,407
|
10,816
|
| Less: net (loss) income attributable to noncontrolling interest in subsidiaries |
(9)
|
83
|
|
| Net income attributable to Midland States Bancorp, Inc. |
31,542
|
24,324
|
10,816
|
| Preferred stock dividends |
|
|
7,601
|
| Net income available to common shareholders |
$ 31,542
|
$ 24,324
|
$ 3,215
|
| Per common share data: |
|
|
|
| Basic earnings per common share |
$ 2.22
|
$ 2.03
|
$ 0.53
|
| Diluted earnings per common share |
$ 2.17
|
$ 2.00
|
$ 0.53
|
| Weighted average common shares outstanding |
14,130,552
|
11,902,455
|
5,945,615
|
| Weighted average diluted common shares outstanding |
14,428,839
|
12,112,403
|
6,025,454
|