Midland States Bancorp authorized a $25 million stock repurchase program effective November 3, 2025 and expiring November 2, 2026. The program allows the bank to buy back shares on the open market or through private transactions, at its discretion.
The decision follows a period of financial challenges. In Q4 2024 the bank posted a net loss of $54.8 million, driven by charge‑offs and provisions related to the LendingPoint and Greensky loan portfolios. In Q3 2025 net income fell to $5.3 million and diluted earnings per share of $0.24 missed analyst estimates.
Management cited improvements in credit quality, including a reduction in non‑performing assets to 1.02 % of total assets in Q3 2025 from 2.10 % at the end of 2024. The bank has ceased equipment‑finance production, tightened underwriting standards, and sold an $87.1 million LendingPoint portfolio and a $371.7 million Greensky portfolio in Q4 2024.
The repurchase program is part of a broader capital‑allocation strategy that also includes a 3.2 % increase in the quarterly cash dividend, raising it to $0.32 per share. The bank also received a Nasdaq deficiency notification for not filing its June 30 2025 quarterly report on time, but it has taken steps to address the issue.
The program is expected to reduce the number of shares outstanding, potentially supporting earnings per share and providing a return to shareholders.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.