8-K: Midland States Bancorp Declares Quarterly Dividends on Common and Preferred Stock

Midland States Bancorp announces the declaration of quarterly cash dividends for both its common stock and preferred stock.

Summary

• Midland States Bancorp, Inc. has declared a quarterly cash dividend of $0.31 per share of its common stock.
• This dividend is payable on February 21, 2025, to shareholders of record as of February 14, 2025.
• The company also declared a cash dividend of $0.4844 per depositary share on its 7.75% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A.
• This preferred stock dividend is payable on March 31, 2025, to stockholders of record as of March 17, 2025.
• As of December 31, 2024, Midland States Bancorp had total assets of approximately $7.53 billion.
• The company's Wealth Management Group had assets under administration of approximately $4.15 billion as of the same date.

Sentiment

Score: 7

Explanation: The sentiment is moderately positive due to the announcement of consistent dividend payments, which is generally viewed favorably by investors. The company's asset size and wealth management group also contribute to a positive outlook.

Positives

• The declaration of quarterly dividends on both common and preferred stock provides income to shareholders.
• The company's total assets are approximately $7.53 billion, indicating a strong financial position.
• The Wealth Management Group's assets under administration are approximately $4.15 billion, demonstrating a significant presence in wealth management.

Future Outlook

The announcement focuses on the declaration of dividends and does not provide specific forward-looking statements beyond the payment dates.

Industry Context

In the banking industry, dividend announcements are common and are used to attract and retain investors. The ability to consistently pay dividends is often seen as a sign of financial health and stability.

Comparison to Industry Standards

• Comparing Midland States Bancorp to regional peers like First Midwest Bancorp (now part of Old National Bancorp) and Wintrust Financial, their dividend yields and payout ratios would be key metrics.
• For example, if the dividend yield is higher than the average of its peers, it could be seen as more attractive to investors.
• Similarly, comparing the assets under administration in the Wealth Management Group to similar-sized banks would provide insight into its market position.

Stakeholder Impact

• Shareholders will receive dividend payments, providing income.
• Employees may benefit from the company's stable financial position.
• Customers can have confidence in the company's ability to provide financial services.

Key Dates