# EDGAR Filing Document

**Accession Number:** 0001466026
**File Stem:** 0001466026-26-000045
**Filing Date:** 2026-4
**Character Count:** 74832
**Document Hash:** 2f6bdfc6a49427927ca5f4d350c9e207
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001466026-26-000045.hdr.sgml**: 20260423

**ACCESSION NUMBER**: 0001466026-26-000045

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 37

**CONFORMED PERIOD OF REPORT**: 20260423

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260423

**DATE AS OF CHANGE**: 20260423

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Midland States Bancorp, Inc.
- **CENTRAL INDEX KEY:** 0001466026
- **STANDARD INDUSTRIAL CLASSIFICATION:** STATE COMMERCIAL BANKS [6022]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 371233196
- **STATE OF INCORPORATION:** IL
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-35272
- **FILM NUMBER:** 26888720

**BUSINESS ADDRESS:**
- **STREET 1:** 1201 NETWORK CENTRE DRIVE
- **CITY:** EFFINGHAM
- **STATE:** IL
- **ZIP:** 62401
- **BUSINESS PHONE:** (217) 342-2141

**MAIL ADDRESS:**
- **STREET 1:** 1201 NETWORK CENTRE DRIVE
- **CITY:** EFFINGHAM
- **STATE:** IL
- **ZIP:** 62401

?xml version='1.0' encoding='ASCII'? msbi-20260423

    

**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): April 23, 2026**

**Midland States Bancorp, Inc.**

(Exact Name of Registrant as Specified in Its Charter)

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| | | |
|:---|:---|:---|
| **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) |

---

**(217) 342-7321**

(Registrant's Telephone Number, Including Area Code)

**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:

---

| | | |
|:---|:---|:---|
| **<u>Title of each class</u>** | **<u>Trading symbol(s)</u>** | **<u>Name of each exchange on which registered</u>** |
| Common Stock, $0.01 par value | MSBI | The Nasdaq Market LLC |
| Depositary Shares, each representing a 1/40th interest in a share of 7.75% 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. ☐

    

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**Item 2.02. Results of Operations and Financial Condition.**

On April 23, 2026, Midland States Bancorp, Inc. (the "Company") issued a press release announcing its financial results for the first quarter of 2026. The press release is attached as Exhibit 99.1.

**Item 7.01. Regulation FD Disclosure.**

On April 23, 2026, the Company made available on its website a slide presentation regarding the Company's first quarter 2026 financial results. The slide presentation is attached as Exhibit 99.2.

The information set forth under Items 2.02 and 7.01 in this Form 8-K and the attached exhibits shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, and shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, 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** |
| <u>[99.1](msbi-20260331exx991.htm)</u> | Press Release of Midland States Bancorp, Inc., dated April 23, 2026 |
| <u>[99.2](q12026investorpresentati.htm)</u> | Slide Presentation of Midland States Bancorp, Inc. regarding first quarter 2026 financial results |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

**SIGNATURE**

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 thereunto duly authorized.

---

| | | |
|:---|:---|:---|
| Date: April 23, 2026 | By: | /s/ Claire A. Stack |
|  |  | Claire A. Stack |
|  |  | Chief Accounting Officer and interim Chief Financial Officer |

---

## Ex-99

**EXHIBIT 99.1**

**Midland States Bancorp, Inc. Announces 2026 First Quarter Results**

**Effingham, IL, April 23, 2026** (GLOBE NEWSWIRE) -- Midland States Bancorp, Inc. (Nasdaq: MSBI) (the "Company") today reported net income available to common shareholders of $16.2 million, or $0.74 per diluted share, for the first quarter of 2026, compared to a net loss available to common shareholders of $5.1 million, or $0.24 per diluted share, for the fourth quarter of 2025. This also compares to a net loss of $143.2 million, or $6.58 per diluted share, for the first quarter of 2025.

Financial results for the first quarter of 2026 included $2.1 million of gains from the sale of the Company's residential servicing portfolio and a portion of the Company's commercial servicing portfolio, losses of $1.7 million from the sale of investment securities and a loss of $1.7 million related to our limited partnership investments.

Financial results for the fourth quarter of 2025 included a loss of $21.4 million from the sale of substantially all of the Company's equipment finance portfolio, in addition to a $1.6 million loss on the sale of a small consumer loan portfolio.

Financial results for the first quarter of 2025 included goodwill impairment expense of $154.0 million.

**2026 First Quarter Results**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• Net income available to common shareholders of $16.2 million, or $0.74 per diluted share; Adjusted earnings available to common shareholders of $17.2 million, or $0.79 per diluted share** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• Adjusted pre-provision net revenue of $30.5 million, or $1.43 per diluted share, compared to $31.6 million, or $1.44 per diluted share, for the fourth quarter of 2025**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• Net interest margin of 3.91% compared to 3.74% in the prior quarter**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• Community Bank loan portfolio increased $68.8 million, or 8.3% annualized, compared to prior quarter. Total loans decreased $13.4 million, primarily due to anticipated runoff within our specialty finance and non-core portfolios** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• Total capital to risk-weighted assets of 15.27% and common equity tier 1 capital of 9.98%**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• Ratio of nonperforming assets to total assets of 0.91%, a decrease of 10 basis points from the prior quarter**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• Provision for credit losses on loans was $5.4 million for the first quarter of 2026, compared to $11.8 million for the fourth quarter of 2025**

**Discussion of Outlook; President & Chief Executive Officer, Jeffrey G. Ludwig:** 

"We delivered a solid start to 2026, reflecting the actions taken throughout 2025 to strengthen credit quality and reduce portfolio risk. Credit metrics continued to improve, with non-performing assets

------

declining and trending toward our 0.75% target, while profitability returned to normalized levels. As a result, we generated earnings of $0.74 per share and a return on average assets of 1.16%.

"Our capital position continued to strengthen, with the common equity tier 1 ratio increasing to 9.98%, approaching our 10% target. We remained disciplined in our capital allocation, repurchasing $7.8 million of common stock during the quarter while continuing to invest in our core businesses. Net interest margin expanded meaningfully, driven primarily by lower funding costs.

"Growth in our Community Bank remains a key priority for 2026, with loan growth supported by strong client relationships, while non-core portfolios continued to run off as planned. Our wealth management business delivered another solid quarter. We are encouraged by the momentum entering 2026, and we see opportunities to further improve efficiency in the Company as the year progresses."

**Financial Highlights and Key Performance Indicators**

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **As of and for the Three Months Ended** | **As of and for the Three Months Ended** | **As of and for the Three Months Ended** | **As of and for the Three Months Ended** | **As of and for the Three Months Ended** |
| | **March 31,**<br>**2026** | **December 31,**<br>**2025** | **September 30,**<br>**2025** | **June 30,**<br>**2025** | **March 31,**<br>**2025** |
| Return on average assets (annualized) | 1.16% | (0.17)% | 0.43% | 0.67% | (7.66)% |
| Adjusted pre-provision net revenue to average assets <sup>(1)</sup> | 1.91% | 1.86% | 1.81% | 1.86% | 1.50% |
| Net interest margin (annualized) | 3.91% | 3.74% | 3.79% | 3.56% | 3.49% |
| Efficiency ratio <sup>(1)</sup> | 62.17% | 63.01% | 61.01% | 59.85% | 63.77% |
| Noninterest expense to average assets | 3.16% | 4.54% | 2.86% | 2.80% | 11.02% |
| Net charge-offs to average loans (annualized) | 0.64% | 3.69% | 0.99% | 2.34% | 1.35% |
| Tangible book value per share at period end <sup>(1)</sup> | $20.77 | $20.70 | $21.16 | $20.68 | $20.54 |
| Diluted earnings (loss) per common share | $0.74 | $(0.24) | $0.24 | $0.44 | $(6.58) |
| Common shares outstanding at period end | 20813975 | 21169854 | 21543557 | 21515138 | 21503036 |
| Trust assets under administration | $4474234 | $4478999 | $4363756 | $4181180 | $4101414 |

---

(1) Non-GAAP financial measures. Refer to pages 11-12 for a reconciliation to the comparable GAAP financial measures.

**<u>Key Points for</u> <u>First</u> <u>Quarter and Outlook</u>**

**Solid Growth Trends in Community Bank & Wealth Management** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Total loans at March 31, 2026 were $4.34 billion, a decrease of $13.4 million from December 31, 2025. Key changes in the loan portfolio were as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Community Bank balances increased $68.8 million, or 2.1%. We originated $130 million of new loans during the first quarter of 2026, down from $180 million in the fourth quarter of 2025, primarily reflecting typical seasonal softness at the start of the year. First quarter production benefited from ongoing expansion of full-relationship commercial clients.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Specialty finance loans decreased $54.7 million to $613.5 million from December 31, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Non-core loans, which include our third party lending and servicing programs and remaining equipment finance portfolio, decreased $27.5 million to $328.1 million from December 31, 2025.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Total deposits were $5.44 billion at March 31, 2026, an increase of $15.7 million from December 31, 2025. Key changes in deposits were as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Retail deposits increased $81.6 million driven primarily by growth in existing consumer and small business customer relationships and growth in new accounts as a result of targeted initiatives.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Deposits among wealth management clients declined $22.8 million, reflecting normal fluctuations in client cash balances. Servicing deposits decreased $20.0 million due to the sales of the residential servicing portfolio and a portion of the commercial servicing portfolio.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Higher-cost brokered deposits decreased $17.2 million.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Wealth Management revenue totaled $8.2 million in the first quarter of 2026, which was relatively stable compared to the prior quarter. Assets under administration were $4.47 billion at March 31, 2026, compared to $4.48 billion at December 31, 2025. Market volatility experienced at the end of the first quarter had a limited effect on our results.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net interest margin was 3.91%, up 17 basis points compared to the fourth quarter of 2025, driven primarily by a continued decline in funding costs. The cost of deposits decreased 14 basis points to 1.81% in the first quarter of 2026, reflecting the ongoing impact of Federal Reserve rate cuts that began in late 2024. Margin expansion also benefited from a modest 2 basis point increase in loan yields and a favorable shift in the investment securities mix.

------

The following table presents the Company's net interest margin for the first quarter of 2026 compared to the fourth quarter of 2025 and the first quarter of 2025.

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **For the Three Months Ended** | **For the Three Months Ended** | **For the Three Months Ended** | **For the Three Months Ended** | **For the Three Months Ended** | **For the Three Months Ended** | **For the Three Months Ended** | **For the Three Months Ended** | **For the Three Months Ended** |
| *(dollars in thousands)* | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **March 31, 2025** | **March 31, 2025** | **March 31, 2025** |
| **Interest-earning assets** | Average Balance | Interest & Fees | Yield/Rate | Average Balance | Interest & Fees | Yield/Rate | Average Balance | Interest & Fees | Yield/Rate |
| Cash and cash equivalents | $89412 | $809 | 3.67% | $81080 | $802 | 3.92% | $68671 | $718 | 4.24% |
| Investment securities <sup>(1)</sup> | 1592433 | 18702 | 4.76 | 1457778 | 16807 | 4.57 | 1311887 | 15517 | 4.80 |
| Loans <sup>(1)(2)</sup> | 4254321 | 66044 | 6.30 | 4671538 | 73889 | 6.28 | 5057394 | 78118 | 6.26 |
| Loans held for sale | 6892 | 102 | 6.01 | 11035 | 145 | 5.21 | 326348 | 4563 | 5.67 |
| Nonmarketable equity securities | 31547 | 583 | 7.50 | 36053 | 673 | 7.41 | 35614 | 647 | 7.37 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest-earning assets | 5974605 | 86240 | 5.85 | 6257484 | 92316 | 5.85 | 6799914 | 99563 | 5.94 |
| Noninterest-earning assets | 496233 |  |  | 486216 |  |  | 667940 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total assets | $6470838 |  |  | $6743700 |  |  | $7467854 |  |  |
| **Interest-Bearing Liabilities** |  |  |  |  |  |  |  |  |  |
| Interest-bearing deposits | $4430873 | $24203 | 2.22% | $4501366 | $27147 | 2.39% | $5074007 | $34615 | 2.77% |
| Short-term borrowings | 33236 | 231 | 2.82 | 110069 | 1035 | 3.73 | 73767 | 700 | 3.85 |
| FHLB advances & other borrowings | 273444 | 2670 | 3.96 | 359380 | 3648 | 4.03 | 299578 | 3163 | 4.28 |
| Subordinated debt | 27022 | 380 | 5.70 | 27017 | 380 | 5.58 | 77752 | 1387 | 7.23 |
| Trust preferred debentures | 51948 | 1121 | 8.75 | 51771 | 1183 | 9.07 | 51283 | 1200 | 9.49 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing liabilities | 4816523 | 28605 | 2.41 | 5049603 | 33393 | 2.62 | 5576387 | 41065 | 2.99 |
| Noninterest-bearing deposits | 996926 |  |  | 1015629 |  |  | 1052181 |  |  |
| Other noninterest-bearing liabilities | 87907 |  |  | 95770 |  |  | 123613 |  |  |
| Shareholders' equity | 569482 |  |  | 582698 |  |  | 715673 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and shareholders' equity | $6470838 |  |  | $6743700 |  |  | $7467854 |  |  |
| **Net Interest Margin** |  | $57635 | 3.91% |  | $58923 | 3.74% |  | $58498 | 3.49% |
| **Cost of Deposits** |  |  | 1.81% |  |  | 1.95% |  |  | 2.29% |

---

(1)Interest income and average rates for tax-exempt loans and investment securities are presented on a tax-equivalent basis, assuming a federal income tax rate of 21%. Tax-equivalent adjustments totaled $0.2 million for each of the three months ended March 31, 2026, December 31, 2025 and March 31, 2025.

(2)Average loan balances include nonaccrual loans. Interest income on loans includes amortization of deferred loan fees, net of deferred loan costs.

**Trends in Noninterest Income and Expense**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Noninterest income was $22.1 million for the first quarter of 2026 compared to $26.9 million for the fourth quarter of 2025. Noninterest income for the first quarter of 2026 included $2.1 million of gains from the sale of the Company's residential servicing portfolio and a portion of the Company's commercial servicing portfolio, losses of $1.7 million from the sale of investment securities, and a $1.7 million loss related to our limited partnership investments. Additionally, the first quarter of 2026 included credit enhancement income of $3.4 million while the fourth quarter

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of 2025 included $6.6 million of additional credit enhancement income driven by contractual changes in our third-party lending and servicing arrangement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Noninterest expense was $50.4 million for the first quarter of 2026 compared to $77.2 million for the fourth quarter of 2025, which included $23.0 million of losses on the sale of loans.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Income tax expense was $5.6 million for the first quarter of 2026, compared to an income tax benefit of $0.4 million for the fourth quarter of 2025 and income tax expense of $3.2 million for the first quarter of 2025. The resulting effective tax rates were 23.4%, 11.1% and 19.6%, respectively. The lower effective tax rate for the fourth quarter of 2025 reflected the loss on the sale of substantially all of our equipment finance portfolio; the effective tax rate for the first quarter of 2025 was not affected by the goodwill impairment, which was not deductible for tax purposes. We currently expect our effective tax rate to be approximately 22% - 23% for the full year, subject to changes in earnings mix, state tax legislation and other factors.

**Improving Credit Quality**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Nonperforming loans decreased to $58.8 million, or 1.36% of total loans, at March 31, 2026, compared to $65.5 million, or 1.50% of total loans, at December 31, 2025, while loans 30-89 days past due increased to $20.3 million, or 0.47% of total loans, at March 31, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Provision for credit losses on loans was $5.4 million for the first quarter of 2026.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net charge-offs were $6.7 million for the first quarter of 2026, which included a $2.6 million charge-off related to a nonperforming commercial real estate loan that moved to held for sale during the quarter and $2.1 million of fully reimbursed charge-offs related to our third-party lending portfolio.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Allowance for credit losses on loans was $67.9 million, or 1.56% of total loans, at March 31, 2026, compared to an allowance of $69.2 million, or 1.59% of total loans, at December 31, 2025.

The table below summarizes certain information regarding the Company's loan portfolio asset quality for the periods presented.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **As of and for the Three Months Ended** | **As of and for the Three Months Ended** | **As of and for the Three Months Ended** | **As of and for the Three Months Ended** | **As of and for the Three Months Ended** |
| *(dollars in thousands)* | **March 31,** | **December 31,** | **September 30,** | **June 30,** | **March 31,** |
| *(dollars in thousands)* | **2026** | **2025** | **2025** | **2025** | **2025** |
| **Asset Quality** |  |  |  |  |  |
| Loans 30-89 days past due | $20266 | $17079 | $26019 | $40959 | $48221 |
| Nonperforming loans | 58791 | 65483 | 68703 | 80112 | 145690 |
| Nonperforming assets | 59305 | 66089 | 70369 | 81775 | 151264 |
| Substandard accruing loans | 91963 | 76000 | 78901 | 58478 | 77620 |
| Net charge-offs | 6747 | 43492 | 12309 | 29855 | 16878 |
| Loans 30-89 days past due to total loans | 0.47% | 0.39% | 0.53% | 0.81% | 0.96% |
| Nonperforming loans to total loans | 1.36% | 1.50% | 1.41% | 1.59% | 2.90% |
| Nonperforming assets to total assets | 0.91% | 1.01% | 1.02% | 1.15% | 2.08% |
| Allowance for credit losses to total loans | 1.56% | 1.59% | 2.07% | 1.84% | 2.10% |
| Allowance for credit losses to nonperforming loans | 115.45% | 105.71% | 146.84% | 115.70% | 72.19% |
| Net charge-offs to average loans (annualized) | 0.64% | 3.69% | 0.99% | 2.34% | 1.35% |

---

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**Capital**

As previously announced, the Company's board of directors authorized a new share repurchase program, pursuant to which the Company is authorized to repurchase up to $25.0 million of its common stock through November 2, 2026. During the first quarter of 2026, the Company repurchased $7.8 million of its common stock (365,507 shares of its common stock at a weighted average price of $21.47), resulting in approximately $7.6 million in remaining repurchase authority under the program.

The Company and Midland States Bank exceeded all regulatory capital requirements under Basel III, and Midland States Bank met the qualifications to be a ''well-capitalized'' financial institution, as summarized in the following table:

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| | | | |
|:---|:---|:---|:---|
| | **As of March 31, 2026** | **As of March 31, 2026** | **As of March 31, 2026** |
| | **Midland States Bank** | **Midland States Bancorp, Inc.** | **Minimum Regulatory Requirements** <sup>(2)</sup> |
| Total capital to risk-weighted assets | 14.42% | 15.27% | 10.50% |
| Tier 1 capital to risk-weighted assets | 13.17% | 13.48% | 8.50% |
| Common equity Tier 1 capital to risk-weighted assets | 13.17% | 9.98% | 7.00% |
| Tier 1 leverage ratio | 10.10% | 10.35% | 4.00% |
| Tangible common equity to tangible assets <sup>(1)</sup> | N/A | 6.62% | N/A |

---

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| | | | |
|:---|:---|:---|:---|
| | **As of December 31, 2025** | **As of December 31, 2025** | **As of December 31, 2025** |
| | **Midland States Bank** | **Midland States Bancorp, Inc.** | **Minimum Regulatory Requirements** <sup>(2)</sup> |
| Total capital to risk-weighted assets | 14.27% | 15.16% | 10.50% |
| Tier 1 capital to risk-weighted assets | 13.02% | 13.37% | 8.50% |
| Common equity Tier 1 capital to risk-weighted assets | 13.02% | 9.89% | 7.00% |
| Tier 1 leverage ratio | 9.63% | 9.90% | 4.00% |
| Tangible common equity to tangible assets <sup>(1)</sup> | N/A | 6.74% | N/A |

---

(1) A non-GAAP financial measure. Refer to[pages 11-12](#i56f13937e98849f8990c658cc58a94a4_16) for a reconciliation to the comparable GAAP financial measure.

(2) Includes the capital conservation buffer of 2.5%, as applicable.

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**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 March 31, 2026, the Company had total assets of approximately $6.55 billion, and its Wealth Management Group had assets under administration of approximately $4.47 billion. The Company provides a full range of commercial and consumer banking products and services, 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.

**Non-GAAP Financial Measures**

Some of the financial measures included in this press release are not measures of financial performance recognized in accordance with GAAP.

These non-GAAP financial measures include "Adjusted pre-provision net revenue," "Adjusted pre-provision net revenue per diluted share," "Adjusted pre-provision net revenue to average assets," "Adjusted earnings," "Adjusted earnings available to common shareholders," "Adjusted diluted earnings per common share," "Efficiency ratio," "Tangible common equity to tangible assets," and "Tangible book value per share." The Company believes these non-GAAP financial measures provide both management and investors a more complete understanding of the Company's funding profile and profitability. These non-GAAP financial measures are supplemental and are not a substitute for any analysis based on GAAP financial measures. Not all companies use the same calculation of these measures; therefore, the measures in this press release may not be comparable to other similarly titled measures as presented by other companies.

**Forward-Looking Statements** 

Readers should note that in addition to the historical information contained herein, this press release includes "forward-looking statements" within the meanings of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including but not limited to statements about the Company's plans, objectives, future performance, goals and future earnings levels, including currently anticipated levels of noninterest income and operating expenses. These statements are subject to many risks and uncertainties, including changes in interest rates and other general economic, business and political conditions; the impact of federal trade policy, inflation, deposit volatility and potential regulatory developments; the performance of our loan portfolio and our ability to manage credit risk; changes in the financial markets; the effects of armed conflict, including the scope and duration of disruptions in global energy markets relating to war in Iran; changes in the business environment resulting from the adoption of artificial intelligence, including fraud and cybersecurity risk; operational risks, including with respect to fraud and information technology; changes in business plans as circumstances warrant; changes to U.S. and state tax laws, regulations and guidance; and other risks detailed from time to time in filings made by the Company with the Securities and Exchange Commission, including the risk factors set forth in our Annual Report on Form 10-K for the year ended December 31, 2025, which are incorporated herein by reference. Readers should note that the forward-looking statements included in this press release are not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "will," "should," "propose," "may," "plan," "seek," "expect," "intend," "estimate," "anticipate," "believe," "continue," "outlook," "trends," or similar terminology. Any forward-looking statements presented herein are made only as of the date of this press release, and the Company does not undertake any obligation to update or revise any forward-looking statements to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.

------

**CONTACTS:**

Jeffrey G. Ludwig, President and CEO, at jludwig@midlandsb.com or (217) 342-7321

Claire A. Stack, Interim Chief Financial Officer, at cstack@midlandsb.com or (217) 342-7321

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **MIDLAND STATES BANCORP, INC.** | **MIDLAND STATES BANCORP, INC.** | **MIDLAND STATES BANCORP, INC.** | **MIDLAND STATES BANCORP, INC.** | **MIDLAND STATES BANCORP, INC.** | **MIDLAND STATES BANCORP, INC.** |
| **CONSOLIDATED FINANCIAL SUMMARY (unaudited)** | **CONSOLIDATED FINANCIAL SUMMARY (unaudited)** | **CONSOLIDATED FINANCIAL SUMMARY (unaudited)** | **CONSOLIDATED FINANCIAL SUMMARY (unaudited)** | **CONSOLIDATED FINANCIAL SUMMARY (unaudited)** | **CONSOLIDATED FINANCIAL SUMMARY (unaudited)** |
| | **As of** | **As of** | **As of** | **As of** | **As of** |
| | **March 31,** | **December 31,** | **September 30,** | **June 30,** | **March 31,** |
| *(dollars in thousands)* | **2026** | **2025** | **2025** | **2025** | **2025** |
| **Assets** |  |  |  |  |  |
| Cash and cash equivalents | $113658 | $127811 | $166147 | $176587 | $102006 |
| Investment securities | 1596220 | 1527236 | 1383121 | 1354652 | 1368405 |
| Loans | 4338573 | 4352004 | 4867587 | 5035295 | 5018053 |
| Allowance for credit losses on loans | (67875) | (69219) | (100886) | (92690) | (105176) |
| &nbsp;&nbsp;&nbsp;Total loans, net | 4270698 | 4282785 | 4766701 | 4942605 | 4912877 |
| Loans held for sale | 6709 | 7781 | 7535 | 37299 | 287821 |
| Premises and equipment, net | 84169 | 85134 | 86005 | 86240 | 86719 |
| Other real estate owned | 514 | 606 | 393 | 393 | 4183 |
| Loan servicing rights, at lower of cost or fair value | 11688 | 11932 | 16165 | 16720 | 17278 |
| Goodwill | 7927 | 7927 | 7927 | 7927 | 7927 |
| Other intangible assets, net | 8159 | 8876 | 9619 | 10362 | 11189 |
| Company-owned life insurance | 220630 | 218554 | 216494 | 214392 | 212336 |
| Credit enhancement asset | 13476 | 12557 | 5765 | 5800 | 5615 |
| Other assets | 214115 | 222221 | 245643 | 254901 | 268448 |
| &nbsp;&nbsp;&nbsp;Total assets | $6547963 | $6513420 | $6911515 | $7107878 | $7284804 |
| **Liabilities and Shareholders' Equity** |  |  |  |  |  |
| Noninterest-bearing demand deposits | $1013808 | $1040411 | $1015930 | $1074212 | $1090707 |
| Interest-bearing deposits | 4426259 | 4383968 | 4588895 | 4872707 | 4845727 |
| &nbsp;&nbsp;&nbsp;Total deposits | 5440067 | 5424379 | 5604825 | 5946919 | 5936434 |
| Short-term borrowings | 153425 | 60181 | 146766 | 8654 | 40224 |
| FHLB advances and other borrowings | 238000 | 293000 | 373000 | 345000 | 498000 |
| Subordinated debt | 27024 | 27019 | 27014 | 77759 | 77754 |
| Trust preferred debentures | 52035 | 51857 | 51684 | 51518 | 51358 |
| Other liabilities | 78458 | 91485 | 124225 | 104323 | 109597 |
| &nbsp;&nbsp;&nbsp;Total liabilities | 5989009 | 5947921 | 6327514 | 6534173 | 6713367 |
| &nbsp;&nbsp;&nbsp;Total shareholders' equity | 558954 | 565499 | 584001 | 573705 | 571437 |
| &nbsp;&nbsp;&nbsp;Total liabilities and shareholders' equity | $6547963 | $6513420 | $6911515 | $7107878 | $7284804 |

---

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **MIDLAND STATES BANCORP, INC.** | **MIDLAND STATES BANCORP, INC.** | **MIDLAND STATES BANCORP, INC.** | **MIDLAND STATES BANCORP, INC.** | **MIDLAND STATES BANCORP, INC.** | **MIDLAND STATES BANCORP, INC.** |
| **CONSOLIDATED FINANCIAL SUMMARY (unaudited) (continued)** | **CONSOLIDATED FINANCIAL SUMMARY (unaudited) (continued)** | **CONSOLIDATED FINANCIAL SUMMARY (unaudited) (continued)** | **CONSOLIDATED FINANCIAL SUMMARY (unaudited) (continued)** | **CONSOLIDATED FINANCIAL SUMMARY (unaudited) (continued)** | **CONSOLIDATED FINANCIAL SUMMARY (unaudited) (continued)** |
| | **For the Three Months Ended** | **For the Three Months Ended** | **For the Three Months Ended** | **For the Three Months Ended** | **For the Three Months Ended** |
| | **March 31,** | **December 31,** | **September 30,** | **June 30,** | **March 31,** |
| *(dollars in thousands, except per share data)* | **2026** | **2025** | **2025** | **2025** | **2025** |
| Net interest income: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Interest income | $86022 | $92095 | $98493 | $97924 | $99355 |
| &nbsp;&nbsp;&nbsp;Interest expense | 28605 | 33393 | 37376 | 39229 | 41065 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net interest income | 57417 | 58702 | 61117 | 58695 | 58290 |
| Provision for credit losses: |  |  |  |  |  |
| &nbsp;&nbsp;Provision for credit losses on loans | 5403 | 11825 | 20505 | 17369 | 10850 |
| &nbsp;&nbsp;Recapture of credit losses on unfunded commitments | (400) | (200) | (500) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total provision for credit losses | 5003 | 11625 | 20005 | 17369 | 10850 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net interest income after provision for credit losses | 52414 | 47077 | 41112 | 41326 | 47440 |
| Noninterest income: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Wealth management revenue | 8248 | 8272 | 8018 | 7379 | 7350 |
| &nbsp;&nbsp;&nbsp;Service charges on deposit accounts | 3355 | 3573 | 3598 | 3351 | 3305 |
| &nbsp;&nbsp;&nbsp;Interchange revenue | 3528 | 3437 | 3445 | 3463 | 3151 |
| &nbsp;&nbsp;&nbsp;Residential mortgage banking revenue | 626 | 690 | 735 | 756 | 676 |
| &nbsp;&nbsp;&nbsp;Income on company-owned life insurance | 2076 | 2060 | 2102 | 2068 | 2334 |
| &nbsp;&nbsp;&nbsp;Gain (loss) on sales of investment securities, net | (1731) |  | 14 |  |  |
| &nbsp;&nbsp;&nbsp;Credit enhancement income (loss) | 3360 | 6876 | (242) | 3848 | (578) |
| &nbsp;&nbsp;&nbsp;Other income | 2660 | 1959 | 2346 | 2669 | 1525 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total noninterest income | 22122 | 26867 | 20016 | 23534 | 17763 |
| Noninterest expense: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Salaries and employee benefits | 26157 | 25906 | 26393 | 25685 | 26416 |
| &nbsp;&nbsp;&nbsp;Occupancy and equipment | 4535 | 4353 | 4206 | 4166 | 4498 |
| &nbsp;&nbsp;&nbsp;Data processing | 7065 | 6834 | 7186 | 7035 | 6919 |
| &nbsp;&nbsp;&nbsp;Professional services | 2242 | 2321 | 2017 | 2792 | 2741 |
| &nbsp;&nbsp;&nbsp;Impairment on goodwill |  |  |  |  | 153977 |
| &nbsp;&nbsp;&nbsp;Amortization of intangible assets | 717 | 743 | 743 | 827 | 911 |
| &nbsp;&nbsp;&nbsp;Loss on sale of loan portfolios |  | 23051 |  |  |  |
| &nbsp;&nbsp;&nbsp;Impairment on leased assets and surrendered assets |  | 684 |  |  |  |
| &nbsp;&nbsp;&nbsp;FDIC insurance | 529 | 3739 | 1512 | 1422 | 1463 |
| &nbsp;&nbsp;&nbsp;Other expense | 9179 | 9561 | 7757 | 8065 | 6080 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total noninterest expense | 50424 | 77192 | 49814 | 49992 | 203005 |
| Income (loss) before income taxes | 24112 | (3248) | 11314 | 14868 | (137802) |
| Income tax expense (benefit) | 5649 | (360) | 3757 | 2844 | 3172 |
| &nbsp;&nbsp;&nbsp;Net income (loss) | 18463 | (2888) | 7557 | 12024 | (140974) |
| Preferred stock dividends | 2228 | 2228 | 2229 | 2228 | 2228 |
| Net income (loss) available to common shareholders | $16235 | $(5116) | $5328 | $9796 | $(143202) |
| Basic earnings (loss) per common share | $0.74 | $(0.24) | $0.24 | $0.44 | $(6.58) |
| Diluted earnings (loss) per common share | $0.74 | $(0.24) | $0.24 | $0.44 | $(6.58) |
| Weighted average common shares outstanding | 21301246 | 21854033 | 21863911 | 21820190 | 21795570 |
| Weighted average diluted common shares outstanding | 21301246 | 21854033 | 21863911 | 21820190 | 21795570 |

---

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **MIDLAND STATES BANCORP, INC.** | **MIDLAND STATES BANCORP, INC.** | **MIDLAND STATES BANCORP, INC.** | **MIDLAND STATES BANCORP, INC.** | **MIDLAND STATES BANCORP, INC.** | **MIDLAND STATES BANCORP, INC.** |
| **CONSOLIDATED FINANCIAL SUMMARY (unaudited)(continued)** | **CONSOLIDATED FINANCIAL SUMMARY (unaudited)(continued)** | **CONSOLIDATED FINANCIAL SUMMARY (unaudited)(continued)** | **CONSOLIDATED FINANCIAL SUMMARY (unaudited)(continued)** | **CONSOLIDATED FINANCIAL SUMMARY (unaudited)(continued)** | **CONSOLIDATED FINANCIAL SUMMARY (unaudited)(continued)** |
| | **As of** | **As of** | **As of** | **As of** | **As of** |
| | **March 31,** | **December 31,** | **September 30,** | **June 30,** | **March 31,** |
| *(dollars in thousands)* | **2026** | **2025** | **2025** | **2025** | **2025** |
| **Loan Portfolio Mix** |  |  |  |  |  |
| Commercial loans | $1216511 | $1178521 | $1476533 | $1544386 | $1269562 |
| Equipment finance leases | 43803 | 50981 | 310983 | 347155 | 373168 |
| &nbsp;&nbsp;&nbsp;Total commercial loans and leases | 1260314 | 1229502 | 1787516 | 1891541 | 1642730 |
| Commercial real estate | 2322198 | 2342664 | 2336661 | 2383361 | 2592325 |
| Construction and land development | 276469 | 286140 | 260073 | 258729 | 264966 |
| Residential real estate | 344511 | 349623 | 353475 | 361261 | 373095 |
| Consumer | 135081 | 144075 | 129862 | 140403 | 144937 |
| &nbsp;&nbsp;&nbsp;Total loans | $4338573 | $4352004 | $4867587 | $5035295 | $5018053 |
| **Loan Portfolio Segment** |  |  |  |  |  |
| Regions |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Eastern | $989596 | $972031 | $927977 | $897348 | $897792 |
| &nbsp;&nbsp;&nbsp;Northern | 758815 | 711702 | 724695 | 753590 | 747028 |
| &nbsp;&nbsp;&nbsp;Southern | 713592 | 729368 | 725892 | 778124 | 711787 |
| &nbsp;&nbsp;&nbsp;St. Louis | 934974 | 915126 | 896005 | 884685 | 902743 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Community Bank | 3396977 | 3328227 | 3274569 | 3313747 | 3259350 |
| Specialty finance | 613514 | 668183 | 642167 | 670566 | 867918 |
| Non-core loan program and other <sup>(1)</sup> | 328082 | 355594 | 950851 | 1050982 | 890785 |
| &nbsp;&nbsp;&nbsp;Total loans | $4338573 | $4352004 | $4867587 | $5035295 | $5018053 |
| **Deposit Portfolio Mix** |  |  |  |  |  |
| Noninterest-bearing demand | $1013808 | $1040411 | $1015930 | $1074212 | $1090707 |
| Interest-bearing: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Checking | 1886212 | 1855215 | 1996501 | 2180717 | 2161282 |
| &nbsp;&nbsp;&nbsp;Money market | 1295781 | 1248942 | 1240885 | 1216357 | 1154403 |
| &nbsp;&nbsp;&nbsp;Savings | 495899 | 487742 | 486953 | 511470 | 522663 |
| &nbsp;&nbsp;&nbsp;Time | 723055 | 748942 | 804740 | 818813 | 818732 |
| &nbsp;&nbsp;&nbsp;Brokered time | 25312 | 43127 | 59816 | 145350 | 188647 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total deposits | $5440067 | $5424379 | $5604825 | $5946919 | $5936434 |
| **Deposit Portfolio by Channel** |  |  |  |  |  |
| Retail | $2904695 | $2823064 | $2791085 | $2811838 | $2846494 |
| Commercial | 1209210 | 1193637 | 1248445 | 1145369 | 1074837 |
| Public Funds | 455982 | 473381 | 605474 | 618172 | 490374 |
| Wealth & Trust | 242977 | 265747 | 263765 | 304626 | 301251 |
| Servicing | 478496 | 498496 | 498892 | 785659 | 842567 |
| Brokered Deposits | 125949 | 143192 | 167228 | 248707 | 358063 |
| Other | 22758 | 26862 | 29936 | 32548 | 22848 |
| &nbsp;&nbsp;&nbsp;Total deposits | $5440067 | $5424379 | $5604825 | $5946919 | $5936434 |

---

(1) Non-core loan programs refer to loan portfolios originated through third parties or capital markets, including loans to finance the sale of the GreenSky portfolio, and equipment financing loans and leases.

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **MIDLAND STATES BANCORP, INC.** | **MIDLAND STATES BANCORP, INC.** | **MIDLAND STATES BANCORP, INC.** | **MIDLAND STATES BANCORP, INC.** | **MIDLAND STATES BANCORP, INC.** | **MIDLAND STATES BANCORP, INC.** |
| **RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES (unaudited)** | **RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES (unaudited)** | **RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES (unaudited)** | **RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES (unaudited)** | **RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES (unaudited)** | **RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES (unaudited)** |
| **Adjusted Earnings Reconciliation** | **Adjusted Earnings Reconciliation** | **Adjusted Earnings Reconciliation** | **Adjusted Earnings Reconciliation** | **Adjusted Earnings Reconciliation** | **Adjusted Earnings Reconciliation** |
| | **For the Three Months Ended** | **For the Three Months Ended** | **For the Three Months Ended** | **For the Three Months Ended** | **For the Three Months Ended** |
| | **March 31,** | **December 31,** | **September 30,** | **June 30,** | **March 31,** |
| *(dollars in thousands, except per share data)* | **2026** | **2025** | **2025** | **2025** | **2025** |
| Income (loss) before income tax expense (benefit) - GAAP | $24112 | $(3248) | $11314 | $14868 | $(137802) |
| Adjustments to noninterest income: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;(Gain) loss on sales of investment securities, net | 1731 |  | (14) |  |  |
| &nbsp;&nbsp;&nbsp;Gain on sale of mortgage servicing rights | (2077) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Loss on limited partnership investments | 1689 | 134 | 315 | 1028 | 620 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total adjustments to noninterest income | 1343 | 134 | 301 | 1028 | 620 |
| Adjustments to noninterest expense: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Loss on sale of loan portfolios |  | (23051) |  |  |  |
| &nbsp;&nbsp;&nbsp;Impairment on goodwill |  |  |  |  | (153977) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total adjustments to noninterest expense |  | (23051) |  |  | (153977) |
| &nbsp;&nbsp;&nbsp;Adjusted earnings pre-tax - non-GAAP | 25455 | 19937 | 11615 | 15896 | 16795 |
| &nbsp;&nbsp;&nbsp;Adjusted earnings tax expense | 6002 | 5726 | 3836 | 3114 | 3335 |
| &nbsp;&nbsp;&nbsp;Adjusted earnings - non-GAAP | 19453 | 14211 | 7779 | 12782 | 13460 |
| &nbsp;&nbsp;&nbsp;Preferred stock dividends | 2228 | 2228 | 2229 | 2228 | 2228 |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjusted earnings available to common shareholders | $17225 | $11983 | $5550 | $10554 | $11232 |
| &nbsp;&nbsp;&nbsp;Adjusted diluted earnings per common share | $0.79 | $0.54 | $0.25 | $0.48 | $0.51 |
| **Adjusted Pre-Provision Net Revenue Reconciliation** | **Adjusted Pre-Provision Net Revenue Reconciliation** | **Adjusted Pre-Provision Net Revenue Reconciliation** | **Adjusted Pre-Provision Net Revenue Reconciliation** | **Adjusted Pre-Provision Net Revenue Reconciliation** | **Adjusted Pre-Provision Net Revenue Reconciliation** |
|  | **For the Three Months Ended** | **For the Three Months Ended** | **For the Three Months Ended** | **For the Three Months Ended** | **For the Three Months Ended** |
|  | **March 31,** | **December 31,** | **September 30,** | **June 30,** | **March 31,** |
| *(dollars in thousands)* | **2026** | **2025** | **2025** | **2025** | **2025** |
| Adjusted earnings pre-tax - non-GAAP | $25455 | $19937 | $11615 | $15896 | $16795 |
| &nbsp;&nbsp;&nbsp;Provision for credit losses | 5003 | 11625 | 20005 | 17369 | 10850 |
| Adjusted pre-provision net revenue | $30458 | $31562 | $31620 | $33265 | $27645 |
| Adjusted pre-provision net revenue per diluted share | $1.43 | $1.44 | $1.45 | $1.52 | $1.27 |
| Adjusted pre-provision net revenue to average assets | 1.91% | 1.86% | 1.81% | 1.86% | 1.50% |

---

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **MIDLAND STATES BANCORP, INC.** | **MIDLAND STATES BANCORP, INC.** | **MIDLAND STATES BANCORP, INC.** | **MIDLAND STATES BANCORP, INC.** | **MIDLAND STATES BANCORP, INC.** | **MIDLAND STATES BANCORP, INC.** |
| **RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES (unaudited)** | **RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES (unaudited)** | **RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES (unaudited)** | **RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES (unaudited)** | **RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES (unaudited)** | **RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES (unaudited)** |
| **Efficiency Ratio Reconciliation** | **Efficiency Ratio Reconciliation** | **Efficiency Ratio Reconciliation** | **Efficiency Ratio Reconciliation** | **Efficiency Ratio Reconciliation** | **Efficiency Ratio Reconciliation** |
| | **For the Three Months Ended** | **For the Three Months Ended** | **For the Three Months Ended** | **For the Three Months Ended** | **For the Three Months Ended** |
| | **March 31,** | **December 31,** | **September 30,** | **June 30,** | **March 31,** |
| *(dollars in thousands)* | **2026** | **2025** | **2025** | **2025** | **2025** |
| Noninterest expense - GAAP | $50424 | $77192 | $49814 | $49992 | $203005 |
| Loss on sale of loan portfolios |  | (23051) |  |  |  |
| Impairment on goodwill |  |  |  |  | (153977) |
| &nbsp;&nbsp;&nbsp;Adjusted noninterest expense | $50424 | $54141 | $49814 | $49992 | $49028 |
| Net interest income - GAAP | $57417 | $58702 | $61117 | $58695 | $58290 |
| Effect of tax-exempt income | 218 | 221 | 209 | 267 | 208 |
| &nbsp;&nbsp;&nbsp;Adjusted net interest income | 57635 | 58923 | 61326 | 58962 | 58498 |
| Noninterest income - GAAP | 22122 | 26867 | 20016 | 23534 | 17763 |
| (Gain) loss on sales of investment securities, net | 1731 |  | (14) |  |  |
| Gain on sale of mortgage servicing rights | (2077) |  |  |  |  |
| Loss on limited partnership investments | 1689 | 134 | 315 | 1028 | 620 |
| &nbsp;&nbsp;&nbsp;Adjusted noninterest income | 23465 | 27001 | 20317 | 24562 | 18383 |
| &nbsp;&nbsp;&nbsp;Adjusted total revenue | $81100 | $85924 | $81643 | $83524 | $76881 |
| **Efficiency ratio** | 62.17% | 63.01% | 61.01% | 59.85% | 63.77% |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Tangible Common Equity to Tangible Assets Ratio and Tangible Book Value Per Share** | **Tangible Common Equity to Tangible Assets Ratio and Tangible Book Value Per Share** | **Tangible Common Equity to Tangible Assets Ratio and Tangible Book Value Per Share** | **Tangible Common Equity to Tangible Assets Ratio and Tangible Book Value Per Share** | **Tangible Common Equity to Tangible Assets Ratio and Tangible Book Value Per Share** | **Tangible Common Equity to Tangible Assets Ratio and Tangible Book Value Per Share** |
| | **As of** | **As of** | **As of** | **As of** | **As of** |
| | **March 31,** | **December 31,** | **September 30,** | **June 30,** | **March 31,** |
| *(dollars in thousands, except per share data)* | **2026** | **2025** | **2025** | **2025** | **2025** |
| **Shareholders' Equity to Tangible Common Equity** | **Shareholders' Equity to Tangible Common Equity** |  |  |  |  |
| Total shareholders' equity—GAAP | $558954 | $565499 | $584001 | $573705 | $571437 |
| Adjustments: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Preferred Stock | (110548) | (110548) | (110548) | (110548) | (110548) |
| &nbsp;&nbsp;&nbsp;Goodwill | (7927) | (7927) | (7927) | (7927) | (7927) |
| &nbsp;&nbsp;&nbsp;Other intangible assets, net | (8159) | (8876) | (9619) | (10362) | (11189) |
| &nbsp;&nbsp;&nbsp;&nbsp;Tangible common equity | $432320 | $438148 | $455907 | $444868 | $441773 |
| **Total Assets to Tangible Assets:** |  |  |  |  |  |
| Total assets—GAAP | $6547963 | $6513420 | $6911515 | $7107878 | $7284804 |
| Adjustments: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Goodwill | (7927) | (7927) | (7927) | (7927) | (7927) |
| &nbsp;&nbsp;&nbsp;Other intangible assets, net | (8159) | (8876) | (9619) | (10362) | (11189) |
| &nbsp;&nbsp;&nbsp;&nbsp;Tangible assets | $6531877 | $6496617 | $6893969 | $7089589 | $7265688 |
| Common Shares Outstanding | 20813975 | 21169854 | 21543557 | 21515138 | 21503036 |
| **Tangible Common Equity to Tangible Assets** | 6.62% | 6.74% | 6.61% | 6.27% | 6.08% |
| **Tangible Book Value Per Share** | $20.77 | $20.70 | $21.16 | $20.68 | $20.54 |

---

## Ex-99

![](q12026investorpresentati001.jpg)

Midland States Bancorp, Inc. First Quarter 2026 Earnings Presentation April 23, 2026

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2 Forward Looking Statements Forward-Looking Statements: Statements made in this presentation which are not purely historical are forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. This includes any statements regarding management's plans, objectives, or goals for future operations, products or services, and forecasts of its revenues, earnings, or other measures of performance. Such forward- looking statements may be identified by the use of words such as "believe," "expect," "anticipate," "plan," "estimate," "should," "intend," "target," "outlook," "project," "guidance," "forecast," or similar expressions. Forward-looking statements are based on current management expectations and, by their nature, are subject to risks and uncertainties. Actual results may differ materially from those contained in the forward-looking statements. Factors which may cause actual results to differ materially from those contained in such forward-looking statements include those identified in the Company's most recent Form 10-K and subsequent Form 10-Qs and other SEC filings, and such factors are incorporated herein by reference. Trademarks: All trademarks, service marks, and trade names referenced in this material are official trademarks and the property of their respective owners. Presentation: Within the charts and tables presented, certain segments, columns and rows may not sum to totals shown due to rounding. Use of Non-GAAP Financial Measures: Some of the financial measures included in this press release are not measures of financial performance recognized in accordance with GAAP. These non-GAAP financial measures include "Adjusted pre-provision net revenue," "Adjusted pre- provision net revenue per diluted share," "Adjusted pre-provision net revenue to average assets," "Adjusted earnings," "Adjusted earnings available to common shareholders," "Adjusted diluted earnings per common share," "Efficiency ratio," "Tangible common equity to tangible assets," and "Tangible book value per share." The Company believes these non-GAAP financial measures provide both management and investors a more complete understanding of the Company's funding profile and profitability. These non-GAAP financial measures are supplemental and are not a substitute for any analysis based on GAAP financial measures. Not all companies use the same calculation of these measures; therefore, the measures in this press release may not be comparable to other similarly titled measures as presented by other companies.

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3 Where We Are Today Where We're Going B ui ld in g B lo ck s Fo r G ro w th C or e B us in es se s • Midland States Bank operates 53 branches/offices in Illinois and Missouri • Presence in stable, lower deposit cost Midwestern markets • Significant commercial growth opportunities in St. Louis and Chicago • Comprehensive wealth and trust product offering • Evolving tech-forward strategy, including Fintech services • Reducing credit risk exposure • Commercial Banking • Personal Banking • Private Wealth Management • Trust Services • Fintech Services Ongoing Reduction of Non-Core Loans Growing Commercial Banking Accelerating Growth in Wealth Improving Operational Capabilities • Continue to reduce specialty finance exposure to less than 10% of loans • Ongoing efforts to work-out / sell NPAs • Invest in team and technology to grow and deepen relationships • Focus on higher growth St. Louis & greater Chicago markets • Invest in technology and people • Cross sell with commercial and retail clients • Continue adding new advisors • Expand data and analytics capabilities • Strengthen credit processes and controls • Automate back-office processes using AI and RPA Building Tech-Forward Strategy • Third party loan program at $60.2 million carries full credit indemnification • Fintech Services continuing to seek high quality partners $6.5B Assets $4.3B Loans $5.4B Deposits $4.5B AUM/A Building a High Performing, Tech-Forward Community Bank

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4 3.91% net interest margin; increased 17 bps due to 14 bp decline in deposit costs to 1.81%, a favorable shift in securities mix and 2 bp increase in loan yield; new loan originations at ~6.6% Strong Community Bank trends: loans increased $68.8 million, or 8.3% annualized; total deposits increased $79.8 million Wealth Management AUA of $4.47 billion and revenue of $8.2 million in Q1, relatively stable compared to LQ Continued credit management: reduced non-performing assets by $6.8 million in Q1; NPAs to assets at 0.91%, a decrease of 10 bp compared to LQ First Quarter 2026 Highlights

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5 First Quarter 2026 Financial Summary EPS Adjusted PPNR 1 Loans Deposits Capital • Adjusted PPNR1 of $30.5 million, or 1.91% on average assets • Net interest income of $57.4 million benefited from 14 bp reduction in deposit costs • Noninterest income remained relatively steady to LQ excluding credit enhancement income • Community Bank loan portfolio increased $68.8 million, or 8.3% annualized. Total loans decreased $13.4 million from LQ, primarily due to anticipated runoff within our specialty finance and non-core portfolios • Provision of $5.0 million, $6.6 million decrease from LQ • Total deposits increased $15.7 million; driven by retail deposit growth of $81.6 million, offset by a decrease in wealth management, servicing and brokered deposits • Loan to deposit ratio declined to 79.75% reflecting increased liquidity • Consolidated CET1 ratio of 9.98%; Total Capital ratio of 15.27% • All capital ratios increased from LQ • Repurchased $7.8 million of common stock during the quarter • Fully diluted EPS of $0.74 for first quarter of 2026 • Adjusted diluted EPS1 of $0.79 1 Represents a non-GAAP financial measure. See "Non-GAAP Reconciliation" in the appendix.

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6 1 Represents a non-GAAP financial measure. See "Non-GAAP Reconciliation" in the appendix. First Quarter 2026 Results (dollars in millions, except for per share data) As of and for the Three Months Ended March 31, December 31, September 30, June 30, March 31, 2026 2025 2025 2025 2025 Net interest income $57.4 $58.7 $61.1 $58.7 $58.3 Provision for credit losses 5.0 11.6 20.0 17.4 10.9 Total noninterest income 22.1 26.9 20.0 23.5 17.8 Total revenue 79.5 85.6 81.1 82.2 76.1 Total noninterest expenses 50.4 77.2 49.8 50.0 203.0 Income (loss) before taxes 24.1 (3.2) 11.3 14.9 (137.8) Net income (loss) 18.5 (2.9) 7.6 12.0 (141.0) Net income (loss) available to common shareholders 16.2 (5.1) 5.3 9.8 (143.2) Diluted earnings (loss) per share 0.74 (0.24) 0.24 0.44 (6.58) Adjusted diluted earnings (loss) per share 1 0.79 0.54 0.25 0.48 0.51 Total assets $6,548.0 $6,513.4 $6,911.5 $7,107.9 $7,284.8 Gross loans receivable (ex. HFS) 4,338.6 4,352.0 4,867.6 5,035.3 5,018.1 Allowance for credit losses on loans & leases (67.9) (69.2) (100.9) (92.7) (105.2) All other assets 2,277.3 2,230.6 2,144.8 2,165.3 2,371.9 Total liabilities 5,989.0 5,947.9 6,327.5 6,534.2 6,713.4 Total deposits 5,440.1 5,424.4 5,604.8 5,946.9 5,936.4 Borrowings 470.5 432.1 598.5 482.9 667.3 Other liabilities 78.5 91.5 124.2 104.3 109.6 Total shareholders' equity 559.0 565.5 584.0 573.7 571.4 Adjusted PPNR 1 $30.5 $31.6 $31.6 $33.3 $27.6 NPA / Total assets 0.91 % 1.01 % 1.02 % 1.15 % 2.08 % Wealth assets under administration 4,474.2 4,479.0 4,363.8 4,181.2 4,101.4 Efficiency ratio 1 62.2 % 63.0 % 61.0 % 59.9 % 63.8 % Tangible book value per share 1 $20.77 $20.70 $21.16 $20.68 $20.54 Common shares outstanding at period end 20,813,975 21,169,854 21,543,557 21,515,138 21,503,036

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7 Strong Liquidity & Regulatory Capital • Strong regulatory capital ratios at bank and holding company, well-above minimum buffers • Near-term focus on building CET1 over 10%, and TCE / TA ratio over 7.0% • Additional 1Q26 ratios: ‒ 38.3% C&L as a % of Total RBC ‒ 277.8% CRE as a % of Total RBC 1 • Board authorized $25.0 million share repurchase plan in Q4 2025, $7.6 million remaining to be repurchased 1 Represents non-owner occupied CRE loans only Abundant Excess Liquidity Building Excess Capital • $4.24 billion total insured deposits • 16.8% liquidity on balance sheet (Cash & Investment Securities) • Stable insured deposit base, brokered time deposits less than 1% of total deposits as of March 31, 2026 • $478.5 million of servicing deposits • Investment securities all classified as available for sale • Effective duration is 4.4 years, carrying an average T/E yield of 4.25% Consolidated Capital Ratios 6.62% 9.98% 10.35% 13.48% 15.27% 6.74% 9.89% 9.90% 13.37% 15.16% Q1 2026 Q4 2025 TCE/TA Common Eq. Tier 1 Tier 1 Leverage Tier 1 RBC Total RBC 2.08X Liquidity Coverage $2,213 $1,207 $114 $895 $872 $332 Cash & Cash Equiv Unpledged Securities FHLB Committed Liquidity FRB Discount Window Availability Liquidity Uninsured Depositors

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8 Loan Portfolio Total Loans and Average Loan Yield (in millions, as of quarter-end) • Loans decreased $13.4 million from prior quarter to $4.34 billion, driven by anticipated runoff within our specialty finance and non-core portfolios • Community Bank balances increased $68.8 million, supported by continued growth in commercial clients with full banking relationships • Continued focus on prudent underwriting standards and higher credit quality relationships Loan Portfolio Mix (in millions, as of quarter-end) 1Q 2026 4Q 2025 1Q 2025 Commercial loans and leases $1,260 $1,230 $1,643 Commercial real estate 2,322 2,343 2,592 Construction and land development 276 286 265 Residential real estate 345 350 373 Consumer 135 144 145 Total Loans $4,339 $4,352 $5,018 $5,018 $5,035 $4,868 $4,352 $4,339 6.26% 6.20% 6.50% 6.28% 6.30% Total Loans Average Loan Yield 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026

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9 Loan Segments Loan Segment Mix • Total loans in our Community Bank increased $68.8 million, or 8.3% annualized, to $3.40 billion, concentrated in our Northern and Eastern regions • Commercial pipelines remain strong and unfunded commitments increased in our Community Bank • Recently added talent across the franchise is driving quality loan relationships and commercial deposit growth Loan Portfolio Segments (in millions, as of quarter-end) 1Q 2026 4Q 2025 1Q 2025 Regions: Eastern $990 $972 $898 Northern 759 712 747 Southern 714 729 712 St. Louis 935 915 903 Community Bank 3,397 3,328 3,259 Other: Specialty Finance 614 668 868 Non-Core and Other 328 356 891 Total Loans $4,339 $4,352 $5,018 Community Bank, 78.3% Specialty Finance, 14.1% Non-Core and other, 7.6%

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10 Credit Management Update Non-Core Loans Specialty Finance Group Q1 2026 Financial ImpactAction Overview • Remaining third party portfolio: $60.2M 1 • Retained GreenSky: $41.7M • Retained MEF: $51.7M • NPA's at 3/31/26: $8.4M • Strategic decision to exit these portfolios: • Sold substantially all of the MEF portfolio in November 2025 • Sale of GreenSky portfolio in April 2025 • Sale of LendingPoint in December 2024 • Portfolios originated by Fintech partners GreenSky & LendingPoint • Retained Midland Equipment Finance (MEF) portfolio • Unsecured portfolios which have exhibited increasing delinquencies & deterioration • Nationwide portfolio providing bridge loan financing for commercial real estate • Primarily multifamily and healthcare • Impacted by macroeconomic factors resulting in elevated NPLs • Strategic review in 2024 resulted in downgrades and charge-offs • Stopped future origination of construction/rehab in 2025 • Tightened underwriting standards • Working to resolve non-performing assets 1 Guaranteed program

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11 Non-Performing Asset Update (dollars in thousands) Loan Segment Balance 1Q 2025 Balance 2Q 2025 Balance 3Q 2025 Balance 4Q 2025 Balance 1Q 2026 Notes Loan 1 CRE - Multifamily - Florida $16,262 $— $— $— $— Note sold Q3 2025 Loan 2 CRE - Multifamily - Wisconsin 13,659 716 716 — — Property sold Q2 2025 Loan 3 CRE - Multifamily - Florida 11,092 — — — — Note sold Q3 2025 Loan 4 CRE - Office - Florida 9,285 9,285 7,988 7,988 7,988 Partial charge off Q3 2025 Loan 5 CRE - Multifamily - Michigan 8,399 8,399 5,534 — — Note sold Q4 2025 Loan 6 CRE - Multifamily - South Carolina 8,140 8,140 — — — Paid in full Q2 2025 Loan 7 CRE - Asst Living - South Carolina 7,806 — — — — Charged off Q2 2025 Loan 8 CRE - Asst Living - Nevada 7,737 — — — — Note sold Q2 2025 Loan 9 C&I Relationship - Illinois 11,377 5,445 5,445 5,445 5,445 Partial charge off Q2 2025 Loan 10 CRE –Multifamily - Texas — — — 14,336 13,208 Partial charge off Q1 2026 Loan 11 CRE - Office - Illinois 6,101 6,050 5,265 5,205 5,205 Loan 12 CRE - Asst Living - Illinois 5,590 5,540 5,405 4,418 4,418 Partial charge off Q3 and Q4 2025 Large Exposures $105,448 $43,575 $30,353 $37,392 $36,264 Midland Equipment Finance 11,099 11,629 11,818 1,626 1,194 Remaining portfolio after 2025 sale Non-Core Loan Programs 5,670 3,608 4,196 4,509 4,494 Credit guarantee by sponsor All Other Loans 23,473 21,300 22,336 21,956 16,839 Loan charged off and held for sale related to anticipated note sale ($3.9 million) Total Non-Performing Loans $145,690 $80,112 $68,703 $65,483 $58,791 NPL's / Total Loans 2.90 % 1.59 % 1.41 % 1.50 % 1.36 % Total OREO & Repossessed Assets 5,574 1,663 1,666 606 514 Total Non-Performing Assets $151,264 $81,775 $70,369 $66,089 $59,305 NPA's / Total Assets 2.08 % 1.15 % 1.02 % 1.01 % 0.91 %

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12 Improving Credit, Strong Community Bank Trends Allowance for Credit Losses (ACL) Net Charge Offs (Recoveries) – Community Bank Loans vs. Other 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 Risk Rating Balance % Balance % Balance % Balance % Balance % 1-6 Acceptable $4,157 83% $4,238 84% $4,104 84% $3,613 83% $3,613 83% 7 Special Mention 68 1% 84 2% 79 2% 63 2% 52 1% 8 Substandard Accruing 75 1% 58 1% 79 2% 76 2% 92 2% 9 Substandard Non-Accrual 140 3% 77 2% 65 1% 61 1% 58 2% Not Graded 1 578 12% 578 11% 541 11% 538 12% 524 12% Total Gross Loans $5,018 $5,035 $4,868 $4,352 $4,339 Non-performing Loans $146 $80 $69 $65 $59 % of Total Loans 2.90 % 1.59 % 1.41 % 1.50 % 1.36 % Non-performing Assets $151 $82 $70 $66 $59 % of Total Assets 2.08 % 1.15 % 1.02 % 1.01 % 0.91 % (in millions, as of quarter-end)(in millions, as of quarter-end) (dollars in millions) 1 Mainly Residential & Consumer loans including the GreenSky & Lending Point portfolios are not graded $105 $93 $101 $69 $68 2.10% 1.84% 2.07% 1.59% 1.56% Allowance for credit losses ACL/Loans 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 $1 $8 $1 $5 $4 $16 $22 $11 $39 $3 Community Bank All Other 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026

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13 Total Deposits • Total deposits increased $15.7 million compared to prior quarter primarily due to an increase in money markets of $46.8 million and checking of $31.0 million, offset by decreases in time deposits of $43.7 million and non- interest bearing of $26.6 million • Reduced higher cost funding and managing deposit rates resulted in 14 bp decrease in cost of deposits • Continue proactive deposit pricing discipline to balance growth and cost of deposits Deposit Mix (in millions, as of quarter-end) 1Q 2026 4Q 2025 1Q 2025 Noninterest-bearing demand $1,014 $1,040 $1,091 Interest-bearing: Checking 1,886 1,855 2,161 Money Market 1,296 1,249 1,154 Savings 496 488 523 Time 723 749 819 Brokered time 25 43 189 Total Deposits $5,440 $5,424 $5,936 Total Deposits and Cost of Deposits (in millions, as of quarter-end) $5,936 $5,947 $5,605 $5,424 $5,440 2.29% 2.19% 2.12% 1.95% 1.81% Total Deposits Cost of Deposits 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026

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14 Deposit Segments • Community Bank deposits increased, driven largely by increases in existing retail and commercial accounts • High-cost brokered deposit balances continue to decrease • Retail and small business growth initiative continue to generate new customers with focus on full banking relationships Deposit by Channel (in millions, as of quarter-end) 1Q 2026 4Q 2025 1Q 2025 Retail $2,905 $2,823 $2,846 Commercial 1,209 1,194 1,075 Public Funds 456 473 490 Community Bank $4,570 $4,490 $4,412 Wealth & Trust $243 $266 $301 Servicing 478 498 843 Brokered Deposits 126 143 358 Other 23 27 23 Total Deposits $5,440 $5,424 $5,936 Trend of Deposit Channel Mix (in millions, as of quarter-end) $5,936 $5,947 $5,605 $5,424 $5,440 Retail Commercial Public Funds Wealth & Trust Servicing Brokered Deposits Other 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026

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15 Neutral Rate Positioning Supports Margin Stability • Bank well positioned for rate changes with modest liability sensitive position: • 31% of assets reprice within 3 months as of March 31, 2026 • 68% of our liabilities reprice within 3 month as of March 31, 2026 • Loan Strategy: Focused on originating Community Bank loans with full banking relationships • Deposit Strategy: Deeper focus on full banking relationships to help drive core checking account growth 1 Based on projected principal payments for all loans plus the next reset for floating and adjustable-rate loans and the maturity date of fixed rate loans. Total Loans and Leases (net of unearned income) 1 (in millions) As of March 31, 2026 Repricing Term Rate Structure 3 mos or less 3-12 months 1-3 years 3-5 years 5-10 years 10-15 years Over 15 years Total Floating Rate Adjustable Rate Fixed Rate Commercial loans and leases $702 $170 $222 $117 $47 $2 $— $1,260 $640 $83 $538 Commercial real estate 677 313 704 435 170 21 2 2,322 497 291 1,535 Construction and land development 243 18 15 — — — — 276 224 1 51 Residential real estate 68 35 45 51 51 31 64 345 56 89 199 Consumer 21 44 45 18 7 — — 135 7 — 128 Total $1,711 $580 $1,031 $621 $275 $54 $66 $4,339 $1,424 $464 $2,451 % of Total 39 % 13 % 24 % 14 % 6 % 1 % 2 % 100 % 33 % 11 % 56 % Weighted Average Rate 6.99 % 5.33 % 5.54 % 5.99 % 4.65 % 4.45 % 4.71 % 6.09 % 7.25 % 5.60 % 5.49 %

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16 Wealth Management Contribution Quarterly Performance: • Assets under administration remained stable at $4.47 billion compared to $4.48 billion LQ • Wealth Management fees were relatively flat at $8.2 million compared to LQ • 2025 hiring of wealth advisors positively impacted new business development Strategic Update: • We expect that additions of new advisors in 2025 will continue to generate increased business development opportunities • Investing in technology tools and data to drive customer engagement and cross sell opportunities with Community Bank Assets Under Administration (in millions) Wealth Management Revenue (in millions) $4,101 $4,181 $4,364 $4,479 $4,474 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 $7.35 $7.38 $8.02 $8.27 $8.25 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026

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17 Noninterest Income • Noninterest income declined $4.8 million compared to LQ, which included an additional $6.6 million in credit enhancement income as a result of contractual changes in our third-party lending and servicing arrangement in Q4 • Wealth Management revenue remained fairly stable QoQ • Third-party lending agreements are expected to result in credit enhancement income of $2.0 to $3.0 million per quarter in the near term Noninterest Income (in millions) $17.8 $23.5 $20.0 $26.9 $22.1 Wealth Management Interchange Service Charges on Deposits Residential Mortgage All Other Credit Enhancement Income 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026

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18 Noninterest Expense and Operating Efficiency Noninterest Expense & Efficiency Ratio 1 (in millions) • Efficiency Ratio 1 was 62.17% in 1Q 2026 vs. 63.01% in 4Q 2025 • Near-term operating expense run-rate expected to be approximately $50.0 to $51.0 million/quarter • 1Q 2025 includes $154.0 million of goodwill impairment • 4Q 2025 includes $23.1 million from loss on sale of loan portfolios 1 Represents a non-GAAP financial measure. See "Non-GAAP Reconciliation" in the appendix. $203.0 $50.0 $49.8 $77.2 $50.4 63.8% 59.9% 61.0% 63.0% 62.2% Noninterest Expense Adjustments to Noninterest Expense Efficiency Ratio 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026

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19 Financial Outlook • Stable total assets near-term • Focus on relationship community banking • Growing regulatory capital • Continued focus on efficiency • Reduced credit costs in 2026

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Appendix

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21 ACL By Portfolio Segment 1. Commercial Other: In general, loan originated through Fintech partners and equipment finance loans 2. Consumer Other: Primarily consists of loans originated through the GreenSky relationship. (dollars in thousands) March 31, 2026 December 31, 2025 Portfolio Loans Net Charge-offs ACL ACL % of Total Loans Loans Net Charge-offs ACL ACL % of Total Loans COMMERCIAL: Commercial $1,109,478 $(367) $9,864 0.89 % $1,062,691 $1,035 $10,355 0.97 % Commercial Other 1 107,033 1,955 14,713 13.75 % 115,830 17,515 13,321 11.50 % Equipment Finance Leases 43,803 559 2,671 6.10 % 50,981 20,039 3,184 6.25 % COMMERCIAL REAL ESTATE: CRE non-owner occupied 1,419,542 2,710 15,130 1.07 % 1,447,894 1,676 14,908 1.03 % CRE owner occupied 461,699 — 5,775 1.25 % 444,443 99 5,716 1.29 % Multi-family 376,242 1,127 6,384 1.70 % 383,377 1,917 7,192 1.88 % Farmland 64,715 — 364 0.56 % 66,950 — 468 0.70 % Construction and Land Development 276,469 35 2,568 0.93 % 286,140 396 2,619 0.92 % Residential Real Estate 344,511 (10) 6,203 1.98 % 286,178 56 6,147 2.15 % Consumer 93,332 (4) 658 0.71 % 99,692 662 725 0.73 % Consumer Other 2 41,749 742 3,545 8.49 % 44,383 161 4,079 9.19 % Total Loans $4,338,573 $6,747 $67,875 1.56 % $4,352,004 $43,492 $69,219 1.59 %

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22 Non-GAAP Reconciliations (unaudited) Adjusted Earnings Reconciliation For the Three Months Ended March 31, December 31, September 30, June 30, March 31, (dollars in thousands, except per share data) 2026 2025 2025 2025 2025 Income (loss) before income tax expense (benefit) - GAAP $24,112 $(3,248) $11,314 $14,868 $(137,802) Adjustments to noninterest income: (Gain) loss on sales of investment securities, net 1,731 — (14) — — Gain on sale of mortgage servicing rights (2,077) — — — — Loss on limited partnership investments 1,689 134 315 1,028 620 Total adjustments to noninterest income 1,343 134 301 1,028 620 Adjustments to noninterest expense: Loss on sale of loan portfolios — (23,051) — — — Impairment on goodwill — — — — (153,977) Total adjustments to noninterest expense — (23,051) — — (153,977) Adjusted earnings pre-tax - non-GAAP 25,455 19,937 11,615 15,896 16,795 Adjusted earnings tax expense 6,002 5,726 3,836 3,114 3,335 Adjusted earnings - non-GAAP 19,453 14,211 7,779 12,782 13,460 Preferred stock dividends 2,228 2,228 2,229 2,228 2,228 Adjusted earnings available to common shareholders $17,225 $11,983 $5,550 $10,554 $11,232 Adjusted diluted earnings per common share $0.79 $0.54 $0.25 $0.48 $0.51 Adjusted Pre-Provision Net Revenue Reconciliation For the Three Months Ended March 31, December 31, September 30, June 30, March 31, (dollars in thousands) 2026 2025 2025 2025 2025 Adjusted earnings pre-tax - non-GAAP $25,455 $19,937 $11,615 $15,896 $16,795 Provision for credit losses 5,003 11,625 20,005 17,369 10,850 Adjusted pre-provision net revenue $30,458 $31,562 $31,620 $33,265 $27,645 Adjusted pre-provision net revenue per diluted share $1.43 $1.44 $1.45 $1.52 $1.27 Adjusted pre-provision net revenue to average assets 1.91 % 1.86 % 1.81 % 1.86 % 1.50 %

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23 Non-GAAP Reconciliations (unaudited) Efficiency Ratio Reconciliation For the Three Months Ended March 31, December 31, September 30, June 30, March 31, (dollars in thousands) 2026 2025 2025 2025 2025 Noninterest expense - GAAP $50,424 $77,192 $49,814 $49,992 $203,005 Loss on sale of loan portfolios — (23,051) — — — Impairment on goodwill — — — — (153,977) Adjusted noninterest expense $50,424 $54,141 $49,814 $49,992 $49,028 Net interest income - GAAP $57,417 $58,702 $61,117 $58,695 $58,290 Effect of tax-exempt income 218 221 209 267 208 Adjusted net interest income 57,635 58,923 61,326 58,962 58,498 Noninterest income - GAAP 22,122 26,867 20,016 23,534 17,763 (Gain) loss on sales of investment securities, net 1,731 — (14) — — Gain on sale of mortgage servicing rights (2,077) — — — — Loss on limited partnership investments 1,689 134 315 1,028 620 Adjusted noninterest income 23,465 27,001 20,317 24,562 18,383 Adjusted total revenue $81,100 $85,924 $81,643 $83,524 $76,881 Efficiency ratio 62.17 % 63.01 % 61.01 % 59.85 % 63.77 % Tangible Common Equity to Tangible Assets Ratio and Tangible Book Value Per Share As of March 31, December 31, September 30, June 30, March 31, (dollars in thousands, except per share data) 2026 2025 2025 2025 2025 Shareholders' Equity to Tangible Common Equity Total shareholders' equity—GAAP $558,954 $565,499 $584,001 $573,705 $571,437 Adjustments: Preferred Stock (110,548) (110,548) (110,548) (110,548) (110,548) Goodwill (7,927) (7,927) (7,927) (7,927) (7,927) Other intangible assets, net (8,159) (8,876) (9,619) (10,362) (11,189) Tangible common equity $432,320 $438,148 $455,907 $444,868 $441,773 Less: Accumulated other comprehensive loss (AOCI) (69,582) (60,333) (62,966) (73,988) (72,339) Tangible common equity excluding AOCI $501,902 $498,481 $518,873 $518,856 $514,112 Total Assets to Tangible Assets: Total assets—GAAP $6,547,963 $6,513,420 $6,911,515 $7,107,878 $7,284,804 Adjustments: Goodwill (7,927) (7,927) (7,927) (7,927) (7,927) Other intangible assets, net (8,159) (8,876) (9,619) (10,362) (11,189) Tangible assets $6,531,877 $6,496,617 $6,893,969 $7,089,589 $7,265,688 Common Shares Outstanding 20,813,975 21,169,854 21,543,557 21,515,138 21,503,036 Tangible Common Equity to Tangible Assets 6.62 % 6.74 % 6.61 % 6.27 % 6.08 % Tangible Book Value Per Share $20.77 $20.70 $21.16 $20.68 $20.54 Tangible Book Value Per Share, excluding AOCI $24.11 $23.55 $24.08 $24.12 $23.91

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