Midland States Bancorp reported second-quarter 2026 results with revenue of $88.2M, consolidated net income of $19.9M and diluted EPS of $0.82, reflecting higher earnings versus the year‑ago quarter despite a decline in interest income.
Financial Highlights
- Revenue: $88.2M total interest income for Q2 2026 vs $97.9M in year‑ago quarter ( (9.9%)).
- Net income: $19.9M consolidated net income for Q2 2026 vs $12.0M in year‑ago quarter (65.4%).
- Diluted EPS: $0.82 for Q2 2026 vs $0.44 in year‑ago quarter (86.4%).
Business Highlights
- Net interest income was roughly stable quarter‑over‑quarter, with modest growth driven by an improved net interest margin.
- Provision for credit losses declined materially as equipment finance and non‑core portfolios were sold and credit quality improved.
- The company continued a strategic shift toward community bank relationships while specialty finance and non‑core portfolios ran off.
- Wealth management assets under administration rose about 14% year‑over‑year, supporting higher wealth revenue and diversification of noninterest income.
- Operational actions during the quarter included ceasing equipment finance originations, completing major portfolio sales, and implementing changes to third‑party lending arrangements.
Original SEC Filing:
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