MSBI
Financial ServicesMidland States Bancorp, Inc. · Banks - Regional · $570M
What is Midland States Bancorp, Inc.?
Midland States Bancorp is a financial holding company headquartered in Effingham, Illinois, serving individuals, businesses, municipalities, and other entities through its subsidiary Midland States Bank.
Midland States Bank generates revenue through traditional banking activities — accepting deposits and extending loans across commercial real estate, residential, construction, and consumer categories. The company also operates a commercial equipment leasing business and a wealth management segment offering trust services, investment management, estate planning, and retirement plan consulting. This multi-segment model diversifies income beyond pure lending.
The holding company was incorporated in 2016 and is based in Effingham, Illinois.
- Commercial and residential real estate lending
- Consumer and equipment financing
- Wealth management and trust services
- Deposit accounts including checking, savings, and money market
Is MSBI a Good Stock to Buy?
UQS Score rates MSBI as Below Average overall, reflecting meaningful weaknesses across several key dimensions.
The Risk pillar stands out as the relative bright spot, suggesting the bank's balance sheet carries a more manageable risk profile than its overall score might imply. Valuation is rated Attractive, meaning the stock may be priced below what the underlying fundamentals would typically command.
Quality, Moat, and Growth are all rated Weak — indicating limited competitive differentiation, constrained earnings quality, and subdued expansion prospects relative to peers.
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Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does MSBI pay dividends?
Yes — Midland States Bancorp, Inc. pays a dividend.
Midland States Bancorp pays a regular dividend, which is common among community and regional banks that prioritize returning capital to shareholders. For income-oriented investors, the dividend adds a tangible return component. Community banks at this scale often sustain dividends through net interest income, though payout sustainability depends on ongoing earnings performance.
When does MSBI report earnings?
Midland States Bancorp reports earnings on a quarterly cadence, consistent with standard practice for US-listed bank holding companies.
The bank's recent results reflect the pressures facing smaller regional lenders — including interest rate sensitivity and credit quality management. Growth metrics have been subdued, consistent with the Weak Growth pillar rating in the UQS framework.
For the most recent quarter's results and guidance, visit Midland States Bancorp's investor relations page directly.
MSBI Price History
+6.8% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in Midland States Bancorp, Inc.?
Based on Midland States Bancorp, Inc.'s historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
MSBI Long-term Outlook
The fundamental outlook for MSBI is cautious. Weak ratings across Quality, Moat, and Growth suggest limited near-term catalysts for meaningful earnings expansion. However, the Good Risk rating indicates the bank is not in acute financial distress, and the Attractive Valuation label suggests downside may be partially priced in. The path forward depends heavily on net interest margin trends and credit quality in its loan portfolio.
Growth drivers
- Potential expansion of wealth management and fee-based revenue
- Stabilization or improvement in net interest margins as rate environment evolves
- Organic loan growth in commercial and equipment financing segments
Key risks
- Weak competitive moat leaves the bank vulnerable to larger regional competitors
- Subdued earnings quality may pressure dividend sustainability over time
- Credit quality deterioration in commercial real estate or consumer portfolios
MSBI vs Peers
MSBI operates in a crowded community banking space alongside several similarly sized regional peers.
Civista operates primarily across Ohio and focuses on community-oriented commercial banking with a comparable deposit-driven funding model.
Kearny is a New Jersey-based thrift-oriented institution with a heavier concentration in residential mortgage lending relative to MSBI's more diversified loan mix.
Home Bancorp serves Louisiana and Texas markets, with a community banking focus that mirrors MSBI's model but in a distinct regional footprint.
Frequently Asked Questions
What does Midland States Bancorp do?
Midland States Bancorp is a bank holding company whose subsidiary, Midland States Bank, provides lending, deposit, equipment leasing, and wealth management services to individuals, businesses, and municipalities primarily in Illinois and surrounding markets.
Does MSBI pay dividends?
Yes, Midland States Bancorp pays a regular dividend. This is consistent with the community banking sector, where returning capital to shareholders through dividends is a common practice. Investors should monitor earnings trends to assess ongoing sustainability.
When does MSBI report earnings?
MSBI reports earnings quarterly, as is standard for US-listed bank holding companies. For the exact release schedule and most recent results, check Midland States Bancorp's investor relations page.
Is MSBI a good stock to buy?
UQS Score rates MSBI as Below Average. The Attractive Valuation and Good Risk ratings offer some reassurance, but Weak scores across Quality, Moat, and Growth indicate material fundamental challenges. Investors should weigh these factors carefully before making a decision.
Is MSBI overvalued?
Based on the UQS Valuation pillar, MSBI is rated Attractive — suggesting the stock is not overvalued relative to its fundamentals. However, low valuation alone does not guarantee returns; the weak Quality and Growth ratings remain important considerations.
How does MSBI compare to its competitors?
MSBI competes with community banks like Civista Bancshares, Kearny Financial, and Home Bancorp. These peers share similar deposit-funded, loan-driven business models. MSBI's multi-segment structure — including wealth management and equipment leasing — provides some differentiation within this peer group.
What is MSBI's market cap bracket?
Midland States Bancorp is classified as a small-cap stock. This places it in a segment of the market that can offer valuation opportunities but typically carries higher volatility and less analyst coverage than larger bank peers.
Who founded Midland States Bancorp?
Midland States Bank has deep community banking roots in Illinois. The current holding company structure was established in 2016. For detailed founding history, the company's official website and SEC filings provide comprehensive background.
Is MSBI a long-term quality investment?
As a long-term quality indicator, MSBI's UQS profile is mixed. The Good Risk rating and Attractive Valuation provide a foundation, but sustained long-term performance typically requires stronger Quality, Moat, and Growth scores than MSBI currently carries.
What is the main competitive advantage of Midland States Bancorp?
MSBI's diversification across banking, equipment leasing, and wealth management gives it multiple revenue streams beyond traditional lending. However, the UQS Moat pillar is rated Weak, suggesting this diversification has not yet translated into a durable competitive advantage relative to peers.
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Pro Analysis
MSBI — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 22, 2026 | 35.9 | 47.1 | 11.0 | 21.9 | 26.7 | 86.6 | -1.9 |
| Apr 2, 2026 | 37.8 | 25.0 | 11.0 | 21.9 | 62.9 | 100.0 | — |
MSBI — Pillar Breakdown
Quality
— 47.1/100 (25%)Midland States Bancorp, Inc. has average quality metrics, with room for improvement in margins or capital efficiency.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Free cash flow relative to market value.
Growth
— 21.9/100 (20%)Midland States Bancorp, Inc. faces growth headwinds with declining or stagnant revenue trends.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Analyst consensus for future earnings growth.
Risk
— 26.7/100 (15%)Midland States Bancorp, Inc. presents elevated risk with concerns around leverage or financial stability.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 86.5/100 (15%)Midland States Bancorp, Inc. appears attractively valued relative to its earnings, cash flows, and sector peers.
Inverse of forward P/E — higher yield means cheaper stock.
How many years of FCF the market cap represents.
P/E relative to earnings growth — lower is more attractive.
Enterprise value multiple relative to sector median.
Moat
— 11/100 (25%)Midland States Bancorp, Inc. operates in a highly competitive environment with limited sustainable advantages. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for MSBI.
Score Composition
Financial Data
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How is the MSBI UQS Score Calculated?
The UQS (Unified Quality Score) for Midland States Bancorp, Inc. is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses Midland States Bancorp, Inc.'s competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether Midland States Bancorp, Inc. is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.