Midland States Bancorp, Inc. (MSBI): history, ownership, mission, how it works & makes money (2024)

A Brief History of Midland States Bancorp, Inc. (MSBI)

Midland States Bancorp, Inc. (MSBI) is a financial holding company headquartered in Effingham, Illinois. The company operates through its subsidiary, Midland States Bank, which provides a wide range of banking products and services to individuals, businesses, and municipalities.

Midland States Bancorp was founded in 1881 as the German-American Bank in Jefferson County, Illinois. Over the years, the bank expanded its presence in the region through organic growth and acquisitions.

• Growth and Expansion: In 2007, Midland States Bancorp completed its initial public offering and began trading on the NASDAQ stock exchange. This provided the company with additional capital to support its growth and expansion initiatives.
• Acquisitions: Midland States Bancorp has a history of strategic acquisitions to strengthen its market position and increase its customer base. In 2015, the company acquired Heartland Bank and Trust Company, significantly expanding its presence in Illinois.
• Financial Services: In addition to traditional banking services, Midland States Bancorp offers wealth management, trust, and investment services through its subsidiary Midland Wealth Management.

Today, Midland States Bancorp, Inc. continues to grow and evolve, offering innovative financial solutions to meet the needs of its customers. The company remains committed to providing personalized service and building long-term relationships with its clients.

Who Owns Midland States Bancorp, Inc. (MSBI)

Midland States Bancorp, Inc. (MSBI) is a financial holding company that owns and operates Midland States Bank, a community-based financial institution. As a publicly traded company, ownership of Midland States Bancorp, Inc. is distributed among various institutional and individual investors. The largest shareholders of MSBI are typically institutional investors such as mutual funds, pension funds, and investment firms.

Some of the key institutional investors who own significant stakes in Midland States Bancorp, Inc. include:

• Vanguard Group Inc.
• BlackRock Inc.
• State Street Corporation
• Dimensional Fund Advisors LP
• The Goldman Sachs Group Inc.

Individual investors also own shares of Midland States Bancorp, Inc. through brokerage accounts or retirement savings accounts. These individual investors may include employees of the company, local community members, or other individuals who have purchased shares of MSBI on the open market.

Midland States Bancorp, Inc. (MSBI) Mission Statement

At Midland States Bancorp, Inc., our mission is to provide exceptional financial services tailored to the needs of individuals, businesses, and communities we serve. We strive to build lasting relationships based on trust, integrity, and personalized attention.

Key tenets of our mission include:

• Customer Focus: We are committed to understanding the unique needs of our customers and providing them with innovative solutions to help them achieve their financial goals.
• Community Engagement: We believe in supporting the communities where we live and work through philanthropic efforts and volunteerism.
• Employee Development: We invest in our employees by providing training and growth opportunities to ensure they can deliver the highest level of service to our customers.
• Financial Stability: We are dedicated to maintaining a strong financial foundation that allows us to weather economic fluctuations and continue serving our customers for years to come.

How Midland States Bancorp, Inc. (MSBI) Works

Midland States Bancorp, Inc. (MSBI) is a financial services holding company that provides a wide range of banking products and services to customers in the United States. The company operates through its subsidiary, Midland States Bank, which offers personal and commercial banking, wealth management, and mortgage services.

Key Services:

• Personal Banking: Midland States Bank offers various personal banking services, including checking and savings accounts, online and mobile banking, and personal loans.
• Commercial Banking: The company provides commercial banking services to businesses, such as business checking accounts, business loans, and treasury management solutions.
• Wealth Management: Midland States Bank offers wealth management services, including investment management, financial planning, and retirement planning.
• Mortgage Services: The company provides mortgage loans for purchasing or refinancing homes, as well as construction loans and home equity lines of credit.

Customer Focus:

Midland States Bancorp, Inc. is committed to providing exceptional customer service and building long-term relationships with its clients. The company strives to understand the unique needs of each customer and offer personalized solutions to help them achieve their financial goals.

Community Involvement:

MSBI is actively involved in the communities it serves through charitable donations, sponsorships, and volunteer work. The company believes in giving back to the community and supporting local organizations and initiatives.

How Midland States Bancorp, Inc. (MSBI) Makes Money

Midland States Bancorp, Inc. (MSBI) generates revenue through various methods, primarily through its banking and financial services offerings. Some key ways the company makes money include:

• Interest Income: One of the primary sources of revenue for Midland States Bancorp is through interest income from loans and securities. The company earns money by charging interest on the loans it offers to customers, including commercial loans, residential mortgages, and consumer loans.
• Fee-Based Services: Midland States Bancorp also generates revenue through fees charged for various banking services. This includes fees for account maintenance, overdrafts, wire transfers, and other financial transactions. Additionally, the company may earn fees for wealth management services, investment advisory services, and insurance products.
• Investment Income: Another way Midland States Bancorp makes money is through investment income. The company invests its capital in various securities, such as bonds, stocks, and other financial instruments, and earns income through dividends, interest, and capital gains on these investments.
• Deposit Accounts: Midland States Bancorp generates revenue through the deposits it receives from customers. By accepting deposits, the company can use these funds to make loans and investments, earning interest on the assets held in deposit accounts.
• Other Financial Services: In addition to traditional banking services, Midland States Bancorp may offer other financial products and services to generate revenue. This can include insurance products, investment banking services, trust and estate planning, and other specialized financial services.