MIDLAND STATES BANCORP, INC. MSBI Income Statement

Midland states bancorp, inc. (MSBI)

Income statement / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Sep'15	Jun'15
Interest income:
Loans:
Taxable
220,073	218,416	215,807	207,861	205,539	194,688	179,828	169,301	148,856	135,898	122,862	110,220	106,743	102,211	101,172	102,206	0	0	0
Tax exempt
3,455	3,593	3,821	3,950	3,834	3,327	2,577	1,884	1,405	1,255	1,209	1,150	1,149	1,155	1,208	1,276	0	0	0
Loans held for sale
1,267	1,375	1,505	1,776	1,620	1,749	1,605	1,531	1,956	2,297	2,785	3,266	0	-	0	0	-	-	-
Investment securities:
Taxable
15,101	14,690	14,756	14,784	14,934	13,894	12,193	10,360	8,167	6,763	5,638	6,484	7,631	9,294	11,162	11,148	0	0	0
Tax exempt
4,019	4,098	4,245	4,429	4,603	4,553	4,385	4,138	3,845	3,741	3,697	3,641	3,625	3,634	3,706	3,805	0	0	0
Nonmarketable equity securities
2,379	2,395	2,369	2,317	2,202	1,980	1,827	1,618	1,375	1,194	962	805	0	-	0	0	-	-	-
Federal funds sold and cash investments
5,106	4,951	4,163	3,530	3,562	3,176	2,860	2,702	2,175	1,965	1,591	1,179	979	948	844	745	0	0	0
Total interest income
251,400	249,518	246,666	238,647	236,294	223,367	205,275	191,534	167,779	153,113	139,594	127,534	125,121	121,249	120,217	120,273	0	0	0
Interest expense:
Deposits
35,193	34,194	31,901	28,732	25,300	22,054	18,835	16,061	13,863	12,132	10,805	9,617	9,100	8,936	8,622	8,187	0	0	0
Short-term borrowings
699	835	904	905	811	698	570	457	423	379	348	329	315	303	273	249	0	0	0
FHLB advances and other borrowings
13,055	13,935	14,595	14,282	13,323	11,347	9,357	7,640	5,899	4,594	3,260	2,072	1,487	1,057	809	735	0	0	0
Subordinated debt
8,399	7,404	6,213	6,056	6,056	6,056	5,977	5,336	4,695	4,054	3,493	3,493	3,674	3,858	4,038	3,601	0	0	0
Trust preferred debentures
3,189	3,335	3,390	3,378	3,301	3,125	2,948	2,768	2,513	2,292	2,103	1,938	1,871	1,841	1,743	1,717	0	0	0
Total interest expense
60,535	59,703	57,003	53,353	48,791	43,280	37,687	32,262	27,393	23,451	20,009	17,449	16,447	15,995	15,485	14,489	0	0	0
Net interest income
190,865	189,815	189,663	185,294	187,503	180,087	167,588	159,272	140,386	129,662	119,585	110,085	108,674	105,254	104,732	105,784	0	0	0
Provision for credit losses on loans
24,311	16,985	15,147	12,889	10,667	9,430	12,039	11,425	10,029	9,556	5,925	5,828	5,999	5,591	9,845	10,832	0	0	0
Net interest income after provision for credit losses on loans
166,554	172,830	174,516	172,405	176,836	170,657	155,549	147,847	130,357	120,106	113,660	104,257	102,675	99,663	94,887	94,952	0	0	0
Noninterest income:
Wealth management revenue
22,556	21,832	22,106	21,575	21,387	20,513	18,449	16,457	14,547	13,340	12,248	10,714	9,178	8,091	7,404	7,320	0	0	0
Commercial FHA revenue
11,142	13,170	15,300	15,536	10,945	10,980	9,913	10,560	14,387	17,752	18,329	17,812	22,197	22,064	24,274	25,115	0	0	0
Residential mortgage banking revenue
3,849	2,928	3,206	3,640	5,145	5,729	6,244	7,407	7,621	9,119	13,804	16,477	15,184	13,389	10,638	10,480	0	0	0
Service charges on deposit accounts
11,163	11,027	11,143	10,939	10,993	10,440	9,292	8,621	7,050	5,975	5,135	4,046	3,889	3,904	3,938	3,844	0	0	0
Interchange revenue
12,145	11,992	11,880	11,390	11,309	10,674	9,271	8,236	6,421	5,353	4,736	3,932	3,763	3,750	3,724	3,667	0	0	0
Merchant services revenue
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
FDIC loss-sharing expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	0	0
Gain on sales of investment securities, net
-	-	0	0	-	464	-3	95	220	222	14,607	14,548	14,565	14,702	316	0	0	0	-
Other-than-temporary impairment on investment securities
-	-	-	-	-	-	-	-	-	-	-	-	-	824	1,123	0	0	0	-
Gain on sales of other real estate owned
134	185	83	125	303	544	650	586	416	145	55	66	153	113	204	540	0	0	0
Impairment on commercial mortgage servicing rights
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other income
13,585	13,474	13,237	12,441	11,908	12,447	10,815	9,800	8,872	7,456	6,977	7,830	8,501	8,529	7,906	6,253	0	0	0
Total noninterest income
66,805	75,282	77,438	76,104	72,364	71,791	64,631	61,762	59,534	59,362	75,838	75,372	75,769	72,057	56,035	55,295	0	0	0
Noninterest expense:
Salaries and employee benefits
90,930	91,906	91,276	88,721	91,054	97,410	91,734	91,617	89,992	78,712	78,694	72,851	68,021	66,293	63,899	63,768	0	0	0
Occupancy and equipment
18,778	18,762	19,060	19,307	19,515	18,914	17,859	16,963	15,727	14,659	14,066	13,193	12,954	13,080	12,928	12,974	0	0	0
Data processing
22,192	21,582	20,814	26,188	26,307	26,062	24,042	19,011	16,854	15,171	14,359	11,159	10,834	10,658	10,371	10,411	0	0	0
FDIC insurance
342	776	1,338	1,924	2,096	2,209	2,039	2,055	1,984	1,806	1,761	1,584	1,614	1,707	1,720	1,883	0	0	0
Professional
8,565	8,783	9,582	10,321	11,106	12,782	14,105	15,169	15,116	14,359	13,183	10,909	9,340	8,049	7,226	7,532	0	0	0
Marketing
3,674	3,927	4,170	4,492	4,785	4,757	4,528	4,461	3,854	3,290	3,240	2,887	2,732	2,733	2,864	2,978	0	0	0
Communications
3,523	3,050	3,058	3,582	3,646	4,405	4,424	3,858	3,503	2,473	2,196	2,019	2,180	2,150	2,115	2,212	0	0	0
Loan expense
2,347	2,191	2,331	1,933	1,869	2,033	1,761	2,128	2,058	1,954	2,136	1,821	1,891	1,957	2,141	2,796	0	0	0
Other real estate owned
-1,085	-467	-551	-462	-527	-524	-373	-477	-478	-800	-912	-945	-1,195	-935	-951	-1,028	0	0	0
Amortization of intangible assets
7,100	7,100	7,125	7,225	7,125	7,000	6,184	5,471	4,450	3,300	2,825	2,152	2,092	2,147	2,210	2,298	0	0	0
Loss on mortgage servicing rights held for sale
0	-	0	0	-	-	0	0	-	-	0	-	-	-	-	-	-	-	-
Other expense
18,735	17,597	15,958	13,110	14,787	15,133	14,569	15,060	13,611	12,389	13,894	11,657	11,583	11,580	8,597	9,188	0	0	0
Total noninterest expense
177,219	175,641	174,691	176,983	183,241	191,643	182,472	180,518	171,711	152,997	150,883	131,177	124,436	121,289	115,022	117,068	0	0	0
Income before income taxes
56,140	72,471	77,263	71,526	65,959	50,805	37,708	29,091	18,180	26,471	38,615	48,452	54,008	50,431	35,900	33,179	0	0	0
Income taxes
12,789	16,687	17,935	16,356	14,362	11,384	12,632	10,476	8,808	10,415	12,967	16,789	19,095	18,889	12,490	11,150	0	0	0
Net income
43,351	55,784	59,328	55,170	51,597	39,421	25,076	18,615	9,372	16,056	22,116	26,869	0	-	0	0	-	0	0
Preferred stock dividends and premium amortization
-	46	80	137	139	141	134	118	0	-	0	0	-	-	-	-	-	0	0
Net income available to common shareholders
43,339	55,738	59,248	55,033	51,458	39,280	24,932	18,479	9,253	15,973	25,602	31,644	34,913	31,542	0	0	0	-	-
Net income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
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