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| Item 7.01. | Regulation FD Disclosure. |
Midland States Bancorp, Inc. (the “Company”) is filing slides from its investor presentation (the “Presentation”) that contain updated information on loan deferrals. The Presentation will be used by the Company in meetings with investors and analysts. A copy of the updated slides is attached hereto as Exhibit 99.1 and is incorporated herein by reference. No other changes have been made to the Presentation filed on Form 8-K dated August 2, 2021.
The information in this Item 7.01 and the attached exhibits shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in any such filing.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
| Exhibit No. | Description | ||
| 99.1 | Midland States Bancorp, Inc. Updated Slides from Investor Presentation | ||
| 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: September 17, 2021 | MIDLAND STATES BANCORP, INC. | |
| By: | /s/ Douglas J. Tucker | |
| Name: | Douglas J. Tucker | |
| Title: | Senior Vice President and Corporate Counsel | |
Exhibit 99.1
1 Loan Deferral Overview Total Loan Deferrals As of Dec. 31, 2020 As of Jun. 30, 2021 As of Aug. 31, 2021 Total Loans Deferred $209.1 million $107.3 million $65.1 million % of Total Loans 4.1% 2.2% 1.4% Deferrals by Industry (as of August 31, 2021) Transit & Ground Passenger $25.4 39% Hotel/Motel $17.0 26% Assisted Living $8.0 12% All Others <4% $14.8 23% ($ in millions) Deferral Type (as of August 31, 2021) Full Payment Deferral $6.0 million Deferred Loans Making I/O or Other Payments $59.1 million
2 Midland Equipment Finance Portfolio Overview ($ in millions) Portfolio Characteristics (as of 6/30/21) Nationwide portfolio providing financing solutions to equipment vendors and end - users Total Outstanding Loans and Leases $871.5 million (18.0% of total loans) Number of Loans and Leases 7,121 Average Loan/Lease Size $122,384 Largest Loan/Lease $1.4 million Weighted Average Rate 4.64% Avg. FICO Score 604 Transit and Ground Passenger $25.4 91.0% All Others $2.5 9.0% Total Deferred Loans and Leases As of 12/31/20 As of 6/30/21 As of 8/31/21 Total Deferrals $50.1 million $35.6 million $27.9 million Percentage of Portfolio 5.8% 4.1% 3.1% Deferred Loans Making I/O or Other Payments $28.2 million $32.6 million $26.6 million Equipment Finance Deferrals by Industry (as of August 31, 2021)
3 Hotel/Motel Portfolio Overview ($ in millions) Portfolio Characteristics (CRE & C&I) (as of 6/30/21 or 8/31/21) Total Outstanding as of 6/30/21 $180.4 million (3.7% of total loans) Number of Loans as of 6/30/21 64 Average Loan Size as of 6/30/21 $2.8 million Largest Loan as of 6/30/21 $11.3 million Average LTV as of 6/30/21 52% Total Deferred Loans as of 6/30/21 $39.4 million (21.8% of portfolio)* Total Deferred Loans as of 8/31/21 $17.0 million (9.4% of portfolio)* Average LTV of Deferred Loans as of 8/31/21 68% Deferred Loans Making I/O or Other Payments $7.1 million (41.8% of deferrals) Portfolio by State IL $103.5 58% MO $28.6 16% MI $14.2 8% CO $11.3 6% WI $9.6 5% Other $13.2 7% * All remaining loan deferrals are Upper Midscale chains