Midland states bancorp, inc. (MSBI)
Income statement / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Sep'15Jun'15
Interest income:
Loans:
Taxable

53,539

56,351

57,162

53,021

51,882

53,742

49,216

50,699

41,031

38,882

38,689

30,254

28,073

25,846

26,047

26,777

23,541

24,807

27,081

Tax exempt

836

824

877

918

974

1,052

1,006

802

467

302

313

323

317

256

254

322

323

309

322

Loans held for sale

191

384

241

451

299

514

512

295

428

370

438

720

769

-

858

919

-

-

-

Investment securities:
Taxable

4,094

3,676

3,725

3,606

3,683

3,742

3,753

3,756

2,643

2,041

1,920

1,563

1,239

916

2,766

2,710

2,902

2,784

2,752

Tax exempt

987

960

1,011

1,061

1,066

1,107

1,195

1,235

1,016

939

948

942

912

895

892

926

921

967

991

Nonmarketable equity securities

605

585

592

597

621

559

540

482

399

406

331

239

218

-

174

174

-

-

-

Federal funds sold and cash investments

1,062

1,664

1,398

982

907

876

765

1,014

521

560

607

487

311

186

195

287

280

82

96

Total interest income

61,314

64,444

65,006

60,636

59,432

61,592

56,987

58,283

46,505

43,500

43,246

34,528

31,839

29,981

31,186

32,115

27,967

28,949

31,242

Interest expense:
Deposits

8,362

9,074

9,320

8,437

7,363

6,781

6,151

5,005

4,117

3,562

3,377

2,807

2,386

2,235

2,189

2,290

2,222

1,921

1,754

Short-term borrowings

101

176

212

210

237

245

213

116

124

117

100

82

80

86

81

68

68

56

57

FHLB advances and other borrowings

2,967

3,023

3,524

3,541

3,847

3,683

3,211

2,582

1,871

1,693

1,494

841

566

359

306

256

136

111

232

Subordinated debt

2,509

2,705

1,671

1,514

1,514

1,514

1,514

1,514

1,514

1,435

873

873

873

874

873

1,054

1,057

1,054

436

Trust preferred debentures

724

779

829

857

870

834

817

780

694

657

637

525

473

468

472

458

443

370

446

Total interest expense

14,663

15,757

15,556

14,559

13,831

13,057

11,906

9,997

8,320

7,464

6,481

5,128

4,378

4,022

3,921

4,126

3,926

3,512

2,925

Net interest income

46,651

48,687

49,450

46,077

45,601

48,535

45,081

48,286

38,185

36,036

36,765

29,400

27,461

25,959

27,265

27,989

24,041

25,437

28,317

Provision for credit losses on loans

10,569

5,305

4,361

4,076

3,243

3,467

2,103

1,854

2,006

6,076

1,489

458

1,533

2,445

1,392

629

1,125

6,699

2,379

Net interest income after provision for credit losses on loans

36,082

43,382

45,089

42,001

42,358

45,068

42,978

46,432

36,179

29,960

35,276

28,942

25,928

23,514

25,873

27,360

22,916

18,738

25,938

Noninterest income:
Wealth management revenue

5,677

5,377

5,998

5,504

4,953

5,651

5,467

5,316

4,079

3,587

3,475

3,406

2,872

2,495

1,941

1,870

1,785

1,808

1,857

Commercial FHA revenue

1,267

2,064

2,894

4,917

3,295

4,194

3,130

326

3,330

3,127

3,777

4,153

6,695

3,704

3,260

8,538

6,562

5,914

4,101

Residential mortgage banking revenue

1,755

763

720

611

834

1,041

1,154

2,116

1,418

1,556

2,317

2,330

2,916

6,241

4,990

1,037

1,121

3,490

4,832

Service charges on deposit accounts

2,656

2,860

3,008

2,639

2,520

2,976

2,804

2,693

1,967

1,828

2,133

1,122

892

988

1,044

965

907

1,022

950

Interchange revenue

2,833

3,053

3,249

3,010

2,680

2,941

2,759

2,929

2,045

1,538

1,724

1,114

977

921

920

945

964

895

863

Merchant services revenue

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

419

372

FDIC loss-sharing expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,608

-

-57

-204

Gain on sales of investment securities, net

-

-

25

14

-

469

0

-70

65

2

98

55

67

14,387

39

72

204

1

-

Other-than-temporary impairment on investment securities

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

824

299

-

Gain on sales of other real estate owned

15

87

44

-12

66

-15

86

166

307

91

22

-4

36

1

33

83

-4

92

369

Impairment on commercial mortgage servicing rights

8,468

-

-

-

25

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other income

2,863

4,150

3,668

2,904

2,752

3,913

2,872

2,371

3,291

2,281

1,857

1,443

1,875

1,802

2,710

2,114

1,903

1,179

1,057

Total noninterest income

8,598

19,014

19,606

19,587

17,075

21,170

18,272

15,847

16,502

14,010

15,403

13,619

16,330

30,486

14,937

14,016

12,618

14,464

14,197

Noninterest expense:
Salaries and employee benefits

21,063

23,650

25,083

21,134

22,039

23,020

22,528

23,467

28,395

17,344

22,411

21,842

17,115

17,326

16,568

17,012

15,387

14,932

16,437

Occupancy and equipment

4,869

4,616

4,793

4,500

4,853

4,914

5,040

4,708

4,252

3,859

4,144

3,472

3,184

3,266

3,271

3,233

3,310

3,114

3,317

Data processing

5,334

6,428

5,443

4,987

4,724

5,660

10,817

5,106

4,479

3,640

5,786

2,949

2,796

2,828

2,586

2,624

2,620

2,541

2,626

FDIC insurance

1

11

-37

367

435

573

549

539

548

403

565

468

370

358

388

498

463

371

551

Professional

1,855

1,952

2,348

2,410

2,073

2,751

3,087

3,195

3,749

4,074

4,151

3,142

2,992

2,898

1,877

1,573

1,701

2,075

2,183

Marketing

981

760

815

1,118

1,234

1,003

1,137

1,411

1,206

774

1,070

804

642

724

717

649

643

855

831

Communications

1,290

791

765

677

817

799

1,289

741

1,576

818

723

386

546

541

546

547

516

506

643

Loan expense

516

555

660

616

360

695

262

552

524

423

629

482

420

605

314

552

486

789

969

Other real estate owned

-711

-142

-131

-101

-93

-226

-42

-166

-90

-75

-146

-167

-412

-187

-179

-417

-152

-203

-256

Amortization of intangible assets

1,800

1,800

1,800

1,700

1,800

1,825

1,900

1,600

1,675

1,009

1,187

579

525

534

514

519

580

597

602

Loss on mortgage servicing rights held for sale

-496

-

70

515

-

-

-270

-188

-

-

-3,617

-

-

-

-

-

-

-

-

Other expense

3,797

5,521

6,291

3,126

2,659

3,882

3,443

4,803

3,005

3,318

3,934

3,354

1,783

4,823

1,697

3,280

1,780

1,840

2,288

Total noninterest expense

42,675

46,325

48,025

40,194

41,097

45,375

50,317

46,452

49,499

36,204

48,363

37,645

30,785

34,090

28,657

30,904

27,638

27,823

30,703

Income before income taxes

2,005

16,071

16,670

21,394

18,336

20,863

10,933

15,827

3,182

7,766

2,316

4,916

11,473

19,910

12,153

10,472

7,896

5,379

9,432

Income taxes

456

3,279

4,015

5,039

4,354

4,527

2,436

3,045

1,376

5,775

280

1,377

2,983

8,327

4,102

3,683

2,777

1,928

2,762

Net income

1,549

12,792

12,655

16,355

13,982

16,336

8,497

12,782

1,806

1,991

2,036

3,539

8,490

-

8,051

6,789

-

3,445

6,653

Preferred stock dividends and premium amortization

-

0

-22

34

34

34

35

36

36

-

27

19

-

-

-

-

-

6

17

Net income available to common shareholders

1,549

12,792

12,677

16,321

13,948

16,302

8,462

12,746

1,770

1,954

2,009

3,520

8,490

11,583

8,051

6,789

5,119

-

-

Net income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,451

6,670

Per common share data:
Basic earnings per common share

0.06

0.52

0.51

0.67

0.58

0.73

0.35

0.53

0.08

0.04

0.10

0.21

0.54

0.77

0.51

0.51

0.43

0.29

0.56

Diluted earnings per common share

0.06

0.51

0.51

0.67

0.57

0.71

0.35

0.52

0.08

0.05

0.10

0.20

0.52

0.74

0.51

0.50

0.42

0.28

0.55

Weighted average common shares outstanding

24,433

24,586

24,488

24,081

23,998

23,948

23,855

23,815

20,901

19,320

19,265

16,803

15,736

15,627

15,578

13,358

11,957

11,911

11,899

Weighted average diluted common shares outstanding

24,538

24,781

24,684

24,303

24,204

24,250

24,325

24,268

21,351

19,756

19,704

17,320

16,351

15,992

15,858

13,635

12,229

12,130

12,098