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United States

Securities And Exchange Commission
Washington, DC 20549

 

FORM 8-K

 

Current Report
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

 

Date of report (Date of earliest event reported): February 7, 2023

 

Midland States Bancorp, Inc.
(Exact Name of Registrant as Specified in Charter)

 

Illinois 001-35272 37-1233196
(State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.)

 

1201 Network Centre Drive

Effingham, Illinois 62401

(Address of Principal Executive Offices) (Zip Code)

 

Registrant’s telephone number, including area code: (217) 342-7321

 

N/A
(Former Name or Former Address, if Changed Since Last Report.)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class Trading Symbol(s) Name of each exchange on which registered
Common stock, $0.01 par value MSBI The NASDAQ Market LLC
Depositary Shares (each representing a 1/40th interest in a share of 7.750% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A, $2.00 par value) MSBIP The NASDAQ Market LLC

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b–2 of the Securities Exchange Act of 1934 (§240.12b–2 of this chapter).

 

Emerging growth company 

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. 

 

 
 

Item 8.01. Other Events

 

On February 7, 2023, the Company announced that its Board of Directors declared a quarterly cash dividend of $0.30 per share of its common stock. The dividend is payable on February 24, 2023, to shareholders of record on February 17, 2023.

 

The Board of Directors also declared a cash dividend of $0.4844 per depositary share on its 7.750% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A. The dividend will be payable on March 30, 2023 to stockholders of record as of March 15, 2023.

 

A copy of the press release announcing the dividend is attached hereto as Exhibit 99.1.

 

Item 9.01. Financial Statements and Exhibits.

 

(d) Exhibits.

 

Exhibit No. Description
   
99.1 Press Release of Midland States Bancorp, Inc., dated February 7, 2023
   
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

 

 

 
 

SignatureS

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Date: February 7, 2023 MIDLAND STATES BANCORP, INC.
     
     
By: /s/ Douglas J. Tucker
Name: Douglas J. Tucker
Title: Senior Vice President and Corporate Counsel

 

 

EdgarFiling

EXHIBIT 99.1

Midland States Bancorp, Inc. Increases Quarterly Common Stock Cash Dividend to $0.30 Per Share and Announces Preferred Stock Dividend

23rd consecutive year that Midland States Bancorp has increased its quarterly cash dividend

EFFINGHAM, Ill., Feb. 07, 2023 (GLOBE NEWSWIRE) -- Midland States Bancorp, Inc. (NASDAQ: MSBI) announced today that its Board of Directors declared a quarterly cash dividend of $0.30 per share of its common stock, an increase of 3.4% from the previous quarterly cash dividend of $0.29 per share. The dividend is payable on February 24, 2023 to all shareholders of record as of the close of business on February 17, 2023.

The Board of Directors also declared a cash dividend of $0.4844 per depository share on its 7.750% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A. The dividend will be payable on March 30, 2023 to stockholders of record as of March 15, 2023.

Jeffrey G. Ludwig, President and Chief Executive Officer of the Company, said, “This dividend declaration represents the 23rd consecutive year that Midland States Bancorp has increased its quarterly cash dividend. We are pleased that our financial performance enables us to increase the amount of capital that we return to shareholders through our quarterly dividend while also retaining a sufficient amount of capital to increase our capital ratios to better support the continued growth of our franchise.”

About Midland States Bancorp, Inc.

Midland States Bancorp, Inc. is a community-based financial holding company headquartered in Effingham, Illinois, and is the sole shareholder of Midland States Bank. As of December 31, 2022, the Company had total assets of approximately $7.86 billion, and its Wealth Management Group had assets under administration of approximately $3.60 billion. The Company provides a full range of commercial and consumer banking products and services and business equipment financing, merchant credit card services, trust and investment management, insurance and financial planning services. For additional information, visit https://www.midlandsb.com/ or https://www.linkedin.com/company/midland-states-bank.

CONTACTS:
Douglas J. Tucker, Sr. V.P., Corporate Counsel, at dtucker@midlandsb.com or (217) 342-7321