What is Midland States Bancorp Financial Strength?
Midland States Bancorp has the Financial Strength Rank of 3. It displays poor financial strength and is likely in financial distress. Usually this is caused by too much debt for the company.
Warning Sign:
Midland States Bancorp Inc displays poor financial strength. Usually, this is caused by too much debt for the company.
GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is based on these factors:
1. The debt burden that the company has as measured by its
Interest Coverage (current year). The higher, the better.
2. Debt to revenue ratio. The lower, the better.
3.
Altman Z-Score.
GuruFocus does not calculate Midland States Bancorp's interest coverage with the available data.
Midland States Bancorp's debt to revenue ratio for the quarter that ended in Mar. 2024 was 1.15.
Altman Z-Score does not apply to banks and insurance companies.
Midland States Bancorp Financial Strength Calculation
GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is based on these factors
A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.
1. The debt burden that the company has as measured by its Interest Coverage (current year). The higher, the better.
Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.
Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income (EBIT) by its Interest Expense:
Midland States Bancorp's Interest Expense for the
months ended in Mar. 2024 was $-45.8 Mil. Its Operating Income for the
months ended in Mar. 2024 was $0.0 Mil. And its Long-Term Debt & Capital Lease Obligation for the quarter that ended in Mar. 2024 was $248.6 Mil.
Midland States Bancorp's Interest Coverage for the quarter that ended in Mar. 2024 is
The higher the ratio, the stronger the company's financial strength is.
2. Debt to revenue ratio. The lower, the better.
Midland States Bancorp's Debt to Revenue Ratio for the quarter that ended in Mar. 2024 is
3. Altman Z-Score.
Z-Score model is an accurate forecaster of failure up to two years prior to distress. It can be considered the assessment of the distress of industrial corporations.
The zones of discrimination were as such:
When Z-Score is less than 1.81, it is in Distress Zones.
When Z-Score is greater than 2.99, it is in Safe Zones.
When Z-Score is between 1.81 and 2.99, it is in Grey Zones.
Altman Z-Score does not apply to banks and insurance companies.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Midland States Bancorp (Midland States Bancorp) Business Description
Traded in Other Exchanges
Address
1201 Network Centre Drive, Effingham, IL, USA, 62401
Midland States Bancorp Inc is a diversified financial holding company. The company provides a full range of commercial and consumer banking products and services, business equipment financing, merchant credit card services, trust and investment management, and insurance and financial planning services. The Banking segment provides a wide range of financial products and services to consumers and businesses, including commercial, commercial real estate, mortgage and other consumer loan products; commercial equipment financing; mortgage loan sales and servicing; letters of credit. etc. The Wealth Management segment consists of trust and fiduciary services, brokerage and retirement planning services. The Other segment includes the operating results of the parent company.
Executives
| Donald J. Spring |
officer: Chief Accounting Officer |
1201 NETWORK CENTRE DRIVE, EFFINGHAM IL 62401 |
| Douglas J. Tucker |
officer: SVP Corporate Counsel |
MIDLAND STATES BANCORP, INC., 133 WEST JEFFERSON AVENUE, EFFINGHAM IL 62401 |
| Richard Dean Bingham |
director |
1201 NETWORK CENTRE DRIVE, EFFINGHAM IL 62401 |
| Jeffrey S. Mefford |
officer: EVP-Banking, Midland States Bank |
MIDLAND STATES BANCORP, INC., 133 WEST JEFFERSON AVENUE, EFFINGHAM IL 62401 |
| Robert F. Schultz |
director |
MIDLAND STATES BANCORP, INC., 133 WEST JEFFERSON AVENUE, EFFINGHAM IL 62401 |
| Jeffrey C. Smith |
director |
MIDLAND STATES BANCORP, INC., 133 WEST JEFFERSON AVENUE, EFFINGHAM IL 62401 |
| Eric Lemke |
officer: Chief Financial Officer |
1201 NETWORK CENTRE DRIVE, EFFINGHAM IL 62401 |
| Jerry L. Mcdaniel |
director |
1201 NETWORK CENTRE DRIVE, EFFINGHAM IL 62401 |
| Sherina M. Edwards |
director |
1201 NETWORK CENTRE DRIVE, EFFINGHAM IL 62401 |
| Jeffrey A. Brunoehler |
officer: SVP Credit - CCO, Midland States Bank |
MIDLAND STATES BANCORP, INC., 133 WEST JEFFERSON AVENUE, EFFINGHAM IL 62401 |
| Jeffrey G. Ludwig |
officer: EVP & CFO |
MIDLAND STATES BANCORP, INC., 133 WEST JEFFERSON AVENUE, EFFINGHAM IL 62401 |
| Jeffrey M Mcdonnell |
director |
1201 NETWORK CENTRE DRIVE, EFFINGHAM IL 62401 |
| John M Schultz |
director |
MIDLAND STATES BANCORP, INC., 133 WEST JEFFERSON AVENUE, EFFINGHAM IL 62401 |
| Leon J Holschbach |
director, officer: CEO |
C/O MIDLAND STATES BANCORP, INC., 133 WEST JEFFERSON AVENUE, EFFINGHAM IL 62401 |
| Stephen A. Erickson |
officer: Chief Financial Officer |
1201 NETWORK CENTRE DRIVE, EFFINGHAM IL 62401 |
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