# EDGAR Filing Document

**Accession Number:** 0001599170
**File Stem:** 0001171520-23-000069
**Filing Date:** 2023-2
**Character Count:** 37123
**Document Hash:** ce54d612875b053aa10a3e5f88904df7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001171520-23-000069.hdr.sgml**: 20230208

**ACCESSION NUMBER**: 0001171520-23-000069

**CONFORMED SUBMISSION TYPE**: SC 13G/A

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20230208

**DATE AS OF CHANGE**: 20230208

**GROUP MEMBERS**: BRIDGE EQUITIES III, LLC

**GROUP MEMBERS**: BRIDGE EQUITIES XI, LLC

**GROUP MEMBERS**: FINANCIAL OPPORTUNITY FUND LLC

**GROUP MEMBERS**: FINANCIAL OPPORTUNITY LONG/SHORT FUND LLC

**GROUP MEMBERS**: MARTIN S. FRIEDMAN

**GROUP MEMBERS**: REALTY INVESTMENT COMPANY, INC.

**GROUP MEMBERS**: SUNBRIDGE HOLDINGS, LLC

**GROUP MEMBERS**: SUNBRIDGE MANAGER, LLC

**SUBJECT COMPANY**: 

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

**FILING VALUES:**
- **FORM TYPE:** SC 13G/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-89865
- **FILM NUMBER:** 23598874

**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
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FJ Capital Management LLC
- **CENTRAL INDEX KEY:** 0001599170
- **IRS NUMBER:** 261588525
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SC 13G/A

**BUSINESS ADDRESS:**
- **STREET 1:** 7901 JONES BRANCH DR.
- **STREET 2:** SUITE 210
- **CITY:** MCLEAN
- **STATE:** VA
- **ZIP:** 22102
- **BUSINESS PHONE:** (703) 875-8378

**MAIL ADDRESS:**
- **STREET 1:** 7901 JONES BRANCH DR.
- **STREET 2:** SUITE 210
- **CITY:** MCLEAN
- **STATE:** VA
- **ZIP:** 22102

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**SCHEDULE 13G**

**Under the Securities Exchange Act of 1934**

**(Amendment No. 4) \***

---

| |
|:---|
| **Midland States Bancorp Inc. Illinois (MSBI)** |
| &nbsp;&nbsp;(Name of Issuer) |
| **Common Stock** |
| &nbsp;&nbsp;(Title of Class of Securities) |
| &nbsp;&nbsp;597742105 |
| &nbsp;&nbsp;(CUSIP Number) |
| **12/31/2022** |
| &nbsp;&nbsp;(Date of Event Which Requires Filing of this Statement) |

---

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

---

| | |
|:---|:---|
| ☐ | Rule 13d-1(b) |
| ☑ | Rule 13d-1(c) |
| ☐ | Rule 13d-1(d) |

---

\* The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

---

| | | |
|:---|:---|:---|
| **CUSIP No.** | 597742105 | Page 2 of 17 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br> **1** | <br> NAME OF REPORTING PERSONS<br> I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS<br> (ENTITIES ONLY)  | <br> NAME OF REPORTING PERSONS<br> I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS<br> (ENTITIES ONLY)  | <br> NAME OF REPORTING PERSONS<br> I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS<br> (ENTITIES ONLY)  | FJ Capital Management LLC<br>|
| <br> **2** | <br> CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | <br> CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | <br> CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☑<br> (b) ☐ |
| <br> **3** | <br> SEC USE ONLY | <br> SEC USE ONLY | <br> SEC USE ONLY |  |
| <br> **4** | <br> CITIZENSHIP OR PLACE OF ORGANIZATION | <br> CITIZENSHIP OR PLACE OF ORGANIZATION | <br> CITIZENSHIP OR PLACE OF ORGANIZATION | Delaware |
| NUMBER OF<br> SHARES | NUMBER OF<br> SHARES | **5** | SOLE VOTING POWER |  |
| BENEFICIALLY<br> OWNED BY | BENEFICIALLY<br> OWNED BY | **6** | SHARED VOTING POWER | 1362125 (1) |
| EACH<br> REPORTING | EACH<br> REPORTING | **7** | SOLE DISPOSITIVE POWER |  |
| PERSON<br> WITH: | PERSON<br> WITH: | **8** | SHARED DISPOSITIVE POWER | 1046489 (2) |
| <br> **9** | <br> AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | <br> AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | <br> AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | 1362125 (1) |
| <br> **10** | <br> CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES | <br> CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES | <br> CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES | ☐ |
| <br> **11** | <br> PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 | <br> PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 | <br> PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 | 6.17% |
| <br> **12** | <br> TYPE OF REPORTING PERSON | <br> TYPE OF REPORTING PERSON | <br> TYPE OF REPORTING PERSON | IA |

---

(1) Consists of **943,249** shares of
common stock of the Issuer held by Financial Opportunity Fund LLC, **43,748** shares of common stock of the Issuer held by Financial
Opportunity Long/Short Fund LLC, of which FJ Capital Management LLC is the managing member, **275,828** shares of common stock of the
Issuer held by Bridge Equities III, LLC and **39,808** shares of common stock of the Issuer held by Bridge Equities XI LLC, of which
FJ Capital Management LLC is the sub-investment advisor, and **59,492** shares of common stock of the Issuer held by managed accounts
that FJ Capital Management manages; as such, the Reporting Person may be deemed to be a beneficial owner of reported shares but as to
which the Reporting Person disclaims beneficial ownership.

(2) Consists of **943,249** shares of
common stock of the Issuer held by Financial Opportunity Fund LLC, **43,748** shares of common stock of the Issuer held by Financial
Opportunity Long/Short Fund LLC, of which FJ Capital Management LLC is the managing member, and **59,492** shares of common stock of
the Issuer held by managed accounts that FJ Capital Management manages; as such, the Reporting Person may be deemed to be a beneficial
owner of reported shares but as to which the Reporting Person disclaims beneficial ownership.

---

| | | |
|:---|:---|:---|
| **CUSIP No.** | 597742105 | Page 3 of 17 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br> **1** | <br> NAME OF REPORTING PERSONS<br> I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS<br> (ENTITIES ONLY)  | <br> NAME OF REPORTING PERSONS<br> I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS<br> (ENTITIES ONLY)  | <br> NAME OF REPORTING PERSONS<br> I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS<br> (ENTITIES ONLY)  | Financial Opportunity Fund LLC<br>|
| <br> **2** | <br> CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | <br> CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | <br> CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☑<br> (b) ☐ |
| <br> **3** | <br> SEC USE ONLY | <br> SEC USE ONLY | <br> SEC USE ONLY |  |
| <br> **4** | <br> CITIZENSHIP OR PLACE OF ORGANIZATION | <br> CITIZENSHIP OR PLACE OF ORGANIZATION | <br> CITIZENSHIP OR PLACE OF ORGANIZATION | Delaware |
| NUMBER OF<br> SHARES | NUMBER OF<br> SHARES | **5** | SOLE VOTING POWER |  |
| BENEFICIALLY<br> OWNED BY | BENEFICIALLY<br> OWNED BY | **6** | SHARED VOTING POWER | 943249 (1) |
| EACH<br> REPORTING | EACH<br> REPORTING | **7** | SOLE DISPOSITIVE POWER |  |
| PERSON<br> WITH: | PERSON<br> WITH: | **8** | SHARED DISPOSITIVE POWER | 943249 (1) |
| <br> **9** | <br> AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | <br> AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | <br> AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | 943249 (1) |
| <br> **10** | <br> CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES | <br> CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES | <br> CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES | ☐ |
| <br> **11** | <br> PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 | <br> PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 | <br> PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 | 4.27% |
| <br> **12** | <br> TYPE OF REPORTING PERSON | <br> TYPE OF REPORTING PERSON | <br> TYPE OF REPORTING PERSON | OO |

---

(1) Consists of 943,249 shares of common stock of the Issuer held by Financial Opportunity
Fund, LLC.

---

| | | |
|:---|:---|:---|
| **CUSIP No.** | 597742105 | Page 4 of 17 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br> **1** | <br> NAME OF REPORTING PERSONS<br> I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS<br> (ENTITIES ONLY)  | <br> NAME OF REPORTING PERSONS<br> I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS<br> (ENTITIES ONLY)  | <br> NAME OF REPORTING PERSONS<br> I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS<br> (ENTITIES ONLY)  | Financial Opportunity Long/Short Fund LLC<br>|
| <br> **2** | <br> CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | <br> CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | <br> CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☑<br> (b) ☐ |
| <br> **3** | <br> SEC USE ONLY | <br> SEC USE ONLY | <br> SEC USE ONLY |  |
| <br> **4** | <br> CITIZENSHIP OR PLACE OF ORGANIZATION | <br> CITIZENSHIP OR PLACE OF ORGANIZATION | <br> CITIZENSHIP OR PLACE OF ORGANIZATION | Delaware |
| NUMBER OF<br> SHARES | NUMBER OF<br> SHARES | **5** | SOLE VOTING POWER |  |
| BENEFICIALLY<br> OWNED BY | BENEFICIALLY<br> OWNED BY | **6** | SHARED VOTING POWER | 43748 (1) |
| EACH<br> REPORTING | EACH<br> REPORTING | **7** | SOLE DISPOSITIVE POWER |  |
| PERSON<br> WITH: | PERSON<br> WITH: | **8** | SHARED DISPOSITIVE POWER | 43748 (1) |
| <br> **9** | <br> AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | <br> AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | <br> AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | 43748 (1) |
| <br> **10** | <br> CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES | <br> CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES | <br> CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES | ☐ |
| <br> **11** | <br> PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 | <br> PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 | <br> PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 | 0.20% |
| <br> **12** | <br> TYPE OF REPORTING PERSON | <br> TYPE OF REPORTING PERSON | <br> TYPE OF REPORTING PERSON | OO |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Consists of 43,748 shares of common stock of the Issuer held by Financial Opportunity
Long/Short Fund, LLC.

---

| | | |
|:---|:---|:---|
| **CUSIP No.** | 597742105 | Page 5 of 17 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br> **1** | <br> NAME OF REPORTING PERSONS<br> I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS<br> (ENTITIES ONLY)  | <br> NAME OF REPORTING PERSONS<br> I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS<br> (ENTITIES ONLY)  | <br> NAME OF REPORTING PERSONS<br> I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS<br> (ENTITIES ONLY)  | Martin Friedman<br>|
| <br> **2** | <br> CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | <br> CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | <br> CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☑<br> (b) ☐ |
| <br> **3** | <br> SEC USE ONLY | <br> SEC USE ONLY | <br> SEC USE ONLY |  |
| <br> **4** | <br> CITIZENSHIP OR PLACE OF ORGANIZATION | <br> CITIZENSHIP OR PLACE OF ORGANIZATION | <br> CITIZENSHIP OR PLACE OF ORGANIZATION | United States |
| NUMBER OF<br> SHARES | NUMBER OF<br> SHARES | **5** | SOLE VOTING POWER |  |
| BENEFICIALLY<br> OWNED BY | BENEFICIALLY<br> OWNED BY | **6** | SHARED VOTING POWER | 1362125 (1) |
| EACH<br> REPORTING | EACH<br> REPORTING | **7** | SOLE DISPOSITIVE POWER |  |
| PERSON<br> WITH: | PERSON<br> WITH: | **8** | SHARED DISPOSITIVE POWER | 1046489 (2) |
| <br> **9** | <br> AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | <br> AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | <br> AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | 1362125 (1) |
| <br> **10** | <br> CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES | <br> CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES | <br> CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES | ☐ |
| <br> **11** | <br> PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 | <br> PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 | <br> PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 | 6.17% |
| <br> **12** | <br> TYPE OF REPORTING PERSON | <br> TYPE OF REPORTING PERSON | <br> TYPE OF REPORTING PERSON | IN |

---

(1) Consists of **943,249** shares of
common stock of the Issuer held by Financial Opportunity Fund LLC, **43,748** shares of common stock of the Issuer held by Financial
Opportunity Long/Short Fund LLC, of which FJ Capital Management LLC is the managing member, **275,828** shares of common stock of the
Issuer held by Bridge Equities III, LLC and **39,808** shares of common stock of the Issuer held by Bridge Equities XI LLC, of which
FJ Capital Management LLC is the sub-investment advisor, and **59,492** shares of common stock of the Issuer held by managed accounts
that FJ Capital Management manages. Martin Friedman is the Managing Member of FJ Capital Management LLC; as such, Mr. Friedman may be
deemed to be a beneficial owner of reported shares but as to which Mr. Friedman disclaims beneficial ownership.

(2) Consists of **943,249** shares of
common stock of the Issuer held by Financial Opportunity Fund LLC, **43,748** shares of common stock of the Issuer held by Financial
Opportunity Long/Short Fund LLC, of which FJ Capital Management LLC is the managing member, and **59,492** shares of common stock of
the Issuer held by managed accounts that FJ Capital Management manages. Martin Friedman is the Managing Member of FJ Capital Management
LLC; as such, Mr. Friedman may be deemed to be a beneficial owner of reported shares but as to which Mr. Friedman disclaims beneficial
ownership.

---

| | | |
|:---|:---|:---|
| **CUSIP No.** | 597742105 | Page 6 of 17 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br> **1** | <br> NAME OF REPORTING PERSONS<br> I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS<br> (ENTITIES ONLY)  | <br> NAME OF REPORTING PERSONS<br> I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS<br> (ENTITIES ONLY)  | <br> NAME OF REPORTING PERSONS<br> I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS<br> (ENTITIES ONLY)  | Bridge Equities III, LLC<br>|
| <br> **2** | <br> CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | <br> CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | <br> CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☑<br> (b) ☐ |
| <br> **3** | <br> SEC USE ONLY | <br> SEC USE ONLY | <br> SEC USE ONLY |  |
| <br> **4** | <br> CITIZENSHIP OR PLACE OF ORGANIZATION | <br> CITIZENSHIP OR PLACE OF ORGANIZATION | <br> CITIZENSHIP OR PLACE OF ORGANIZATION | Delaware |
| NUMBER OF<br> SHARES | NUMBER OF<br> SHARES | **5** | SOLE VOTING POWER |  |
| BENEFICIALLY<br> OWNED BY | BENEFICIALLY<br> OWNED BY | **6** | SHARED VOTING POWER | 275828 (1) |
| EACH<br> REPORTING | EACH<br> REPORTING | **7** | SOLE DISPOSITIVE POWER |  |
| PERSON<br> WITH: | PERSON<br> WITH: | **8** | SHARED DISPOSITIVE POWER | 275828 (1) |
| <br> **9** | <br> AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | <br> AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | <br> AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | 275828 (1) |
| <br> **10** | <br> CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES | <br> CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES | <br> CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES | ☐ |
| <br> **11** | <br> PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 | <br> PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 | <br> PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 | 1.25% |
| <br> **12** | <br> TYPE OF REPORTING PERSON | <br> TYPE OF REPORTING PERSON | <br> TYPE OF REPORTING PERSON | OO |

---

(1) Consists of 275,828 shares of common stock of the Issuer held by
Bridge Equities III, LLC.

---

| | | |
|:---|:---|:---|
| **CUSIP No.** | 597742105 | Page 7 of 17 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br> **1** | <br> NAME OF REPORTING PERSONS<br> I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS<br> (ENTITIES ONLY)  | <br> NAME OF REPORTING PERSONS<br> I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS<br> (ENTITIES ONLY)  | <br> NAME OF REPORTING PERSONS<br> I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS<br> (ENTITIES ONLY)  | Bridge Equities XI, LLC<br>|
| <br> **2** | <br> CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | <br> CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | <br> CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☑<br> (b) ☐ |
| <br> **3** | <br> SEC USE ONLY | <br> SEC USE ONLY | <br> SEC USE ONLY |  |
| <br> **4** | <br> CITIZENSHIP OR PLACE OF ORGANIZATION | <br> CITIZENSHIP OR PLACE OF ORGANIZATION | <br> CITIZENSHIP OR PLACE OF ORGANIZATION | Delaware |
| NUMBER OF<br> SHARES | NUMBER OF<br> SHARES | **5** | SOLE VOTING POWER |  |
| BENEFICIALLY<br> OWNED BY | BENEFICIALLY<br> OWNED BY | **6** | SHARED VOTING POWER | 39808 (1) |
| EACH<br> REPORTING | EACH<br> REPORTING | **7** | SOLE DISPOSITIVE POWER |  |
| PERSON<br> WITH: | PERSON<br> WITH: | **8** | SHARED DISPOSITIVE POWER | 39808 (1) |
| <br> **9** | <br> AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | <br> AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | <br> AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | 39808 (1) |
| <br> **10** | <br> CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES | <br> CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES | <br> CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES | ☐ |
| <br> **11** | <br> PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 | <br> PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 | <br> PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 | 0.18% |
| <br> **12** | <br> TYPE OF REPORTING PERSON | <br> TYPE OF REPORTING PERSON | <br> TYPE OF REPORTING PERSON | OO |

---

(1) Consists of 39,808 shares of common stock of the Issuer held
by Bridge Equities XI, LLC.

---

| | | |
|:---|:---|:---|
| **CUSIP No.** | 597742105 | Page 8 of 17 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br> **1** | <br> NAME OF REPORTING PERSONS<br> I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS<br> (ENTITIES ONLY)  | <br> NAME OF REPORTING PERSONS<br> I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS<br> (ENTITIES ONLY)  | <br> NAME OF REPORTING PERSONS<br> I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS<br> (ENTITIES ONLY)  | SunBridge Manager, LLC<br>|
| <br> **2** | <br> CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | <br> CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | <br> CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☑<br> (b) ☐ |
| <br> **3** | <br> SEC USE ONLY | <br> SEC USE ONLY | <br> SEC USE ONLY |  |
| <br> **4** | <br> CITIZENSHIP OR PLACE OF ORGANIZATION | <br> CITIZENSHIP OR PLACE OF ORGANIZATION | <br> CITIZENSHIP OR PLACE OF ORGANIZATION | Delaware |
| NUMBER OF<br> SHARES | NUMBER OF<br> SHARES | **5** | SOLE VOTING POWER |  |
| BENEFICIALLY<br> OWNED BY | BENEFICIALLY<br> OWNED BY | **6** | SHARED VOTING POWER | 315636 (1) |
| EACH<br> REPORTING | EACH<br> REPORTING | **7** | SOLE DISPOSITIVE POWER |  |
| PERSON<br> WITH: | PERSON<br> WITH: | **8** | SHARED DISPOSITIVE POWER | 315636 (1) |
| <br> **9** | <br> AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | <br> AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | <br> AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | 315636 (1) |
| <br> **10** | <br> CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES | <br> CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES | <br> CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES | ☐ |
| <br> **11** | <br> PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 | <br> PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 | <br> PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 | 1.43% |
| <br> **12** | <br> TYPE OF REPORTING PERSON | <br> TYPE OF REPORTING PERSON | <br> TYPE OF REPORTING PERSON | OO |

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(1) Consists of 275,828 shares of common stock of the Issuer held
by Bridge Equities III, LLC and 39,808 shares of common stock of the Issuer held by Bridge Equities XI LLC, of which SunBridge Manager,
LLC is the Managing Member; as such, the Reporting Person may be deemed to be a beneficial owner of reported shares.

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|:---|:---|:---|
| **CUSIP No.** | 597742105 | Page 9 of 17 |

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| | | | | |
|:---|:---|:---|:---|:---|
| <br> **1** | <br> NAME OF REPORTING PERSONS<br> I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS<br> (ENTITIES ONLY)  | <br> NAME OF REPORTING PERSONS<br> I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS<br> (ENTITIES ONLY)  | <br> NAME OF REPORTING PERSONS<br> I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS<br> (ENTITIES ONLY)  | SunBridge Holdings, LLC<br>|
| <br> **2** | <br> CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | <br> CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | <br> CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☑<br> (b) ☐ |
| <br> **3** | <br> SEC USE ONLY | <br> SEC USE ONLY | <br> SEC USE ONLY |  |
| <br> **4** | <br> CITIZENSHIP OR PLACE OF ORGANIZATION | <br> CITIZENSHIP OR PLACE OF ORGANIZATION | <br> CITIZENSHIP OR PLACE OF ORGANIZATION | Delaware |
| NUMBER OF<br> SHARES | NUMBER OF<br> SHARES | **5** | SOLE VOTING POWER |  |
| BENEFICIALLY<br> OWNED BY | BENEFICIALLY<br> OWNED BY | **6** | SHARED VOTING POWER | 315636 (1) |
| EACH<br> REPORTING | EACH<br> REPORTING | **7** | SOLE DISPOSITIVE POWER |  |
| PERSON<br> WITH: | PERSON<br> WITH: | **8** | SHARED DISPOSITIVE POWER | 315636 (1) |
| <br> **9** | <br> AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | <br> AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | <br> AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | 315636 (1) |
| <br> **10** | <br> CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES | <br> CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES | <br> CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES | ☐ |
| <br> **11** | <br> PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 | <br> PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 | <br> PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 | 1.43% |
| <br> **12** | <br> TYPE OF REPORTING PERSON | <br> TYPE OF REPORTING PERSON | <br> TYPE OF REPORTING PERSON | OO |

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(1) Consists of 275,828 shares of common stock of the Issuer
held by Bridge Equities III, LLC and 39,808 shares of common stock of the Issuer held by Bridge Equities XI LLC, of which SunBridge Manager,
LLC is the Managing Member. SunBridge Holdings, LLC is the Managing Member of SunBridge Manager, LLC; as such, the Reporting Person may
be deemed to be a beneficial owner of reported shares but as to which the Reporting Person disclaims beneficial ownership.

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|:---|:---|:---|
| **CUSIP No.** | 597742105 | Page 10 of 17 |

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| | | | | |
|:---|:---|:---|:---|:---|
| <br> **1** | <br> NAME OF REPORTING PERSONS<br> I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS<br> (ENTITIES ONLY)  | <br> NAME OF REPORTING PERSONS<br> I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS<br> (ENTITIES ONLY)  | <br> NAME OF REPORTING PERSONS<br> I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS<br> (ENTITIES ONLY)  | Realty Investment Company, Inc.<br>|
| <br> **2** | <br> CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | <br> CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | <br> CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☑<br> (b) ☐ |
| <br> **3** | <br> SEC USE ONLY | <br> SEC USE ONLY | <br> SEC USE ONLY |  |
| <br> **4** | <br> CITIZENSHIP OR PLACE OF ORGANIZATION | <br> CITIZENSHIP OR PLACE OF ORGANIZATION | <br> CITIZENSHIP OR PLACE OF ORGANIZATION | Maryland |
| NUMBER OF<br> SHARES | NUMBER OF<br> SHARES | **5** | SOLE VOTING POWER |  |
| BENEFICIALLY<br> OWNED BY | BENEFICIALLY<br> OWNED BY | **6** | SHARED VOTING POWER | 315636 (1) |
| EACH<br> REPORTING | EACH<br> REPORTING | **7** | SOLE DISPOSITIVE POWER |  |
| PERSON<br> WITH: | PERSON<br> WITH: | **8** | SHARED DISPOSITIVE POWER | 315636 (1) |
| <br> **9** | <br> AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | <br> AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | <br> AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | 315636 (1) |
| <br> **10** | <br> CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES | <br> CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES | <br> CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES | ☐ |
| <br> **11** | <br> PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 | <br> PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 | <br> PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 | 1.43% |
| <br> **12** | <br> TYPE OF REPORTING PERSON | <br> TYPE OF REPORTING PERSON | <br> TYPE OF REPORTING PERSON | CO |

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(1) Consists of 275,828 shares of common
stock of the Issuer held by Bridge Equities III, LLC and 39,808 shares of common stock of the Issuer held by Bridge Equities XI LLC, of
which SunBridge Manager, LLC is the Managing Member. SunBridge Holdings, LLC is the Managing Member of SunBridge Manager, LLC. Realty
Investment Company, Inc. is the Manager of SunBridge Holdings, LLC; as such, the Reporting Person may be deemed to be a beneficial owner
of reported shares but as to which the Reporting Person disclaims beneficial ownership.

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|:---|:---|:---|
| **CUSIP No.** | 597742105 | Page 11 of 17 |

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|:---|:---|
| **Item 1(a).** | **Name of Issuer:** |
|  | Midland States Bancorp ILL (MSBI) |
| **Item 1(b).** | **Address of Issuer's Principal Executive Offices:** |
|  | 1201 Network Centre Drive |
|  | Effingham, IL 62401 |
| **Item 2(a).** | **Name of Person Filing:** |
|  | This Schedule 13G is being filed on behalf of the following Reporting Persons:<br> FJ Capital Management LLC<br> Financial Opportunity Fund LLC<br> Financial Opportunity Long/Short Fund LLC<br> Martin Friedman<br> Bridge Equities III, LLC<br> Bridge Equities XI, LLC<br> SunBridge Manager, LLC<br> SunBridge Holdings, LLC<br> Realty Investment Company, Inc |
| **Item 2(b).** | **Address of Principal Business Office or, if None, Residence:** |
|  | FJ Capital Management, LLC<br> 7901 Jones Branch Drive, Suite 210<br> McLean, VA 22102<br>Financial Opportunity Fund LLC<br> 7901 Jones Branch Drive, Suite 210<br> McLean, VA 22102<br>Financial Opportunity Long/Short Fund LLC<br> 7901 Jones Branch Drive, Suite 210<br> McLean, VA 22102<br>Martin Friedman<br> 7901 Jones Branch Drive, Suite 210<br> McLean, VA 22102<br>Bridge Equities III, LLC<br> 8171 Maple Lawn Blvd, Suite 375<br> Fulton, MD 20759<br>Bridge Equities XI, LLC<br> 8171 Maple Lawn Blvd, Suite 375<br> Fulton, MD 20759<br>SunBridge Manager, LLC<br> 8171 Maple Lawn Blvd, Suite 375<br> Fulton, MD 20759<br>SunBridge Holdings, LLC<br> 8171 Maple Lawn Blvd, Suite 375<br> Fulton, MD 20759<br>Realty Investment Company, Inc<br> 8171 Maple Lawn Blvd, Suite 375<br> Fulton, MD 20759 |

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| **CUSIP No.** | 597742105 | Page 12 of 17 |

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|:---|:---|
| **Item 2(c).** | **Citizenship:** |
|  | Financial Opportunity Fund LLC, Financial Opportunity Long/Short Fund LLC, Bridge Equities III, LLC, Bridge Equities XI, LLC, and FJ Capital Management LLC, SunBridge Manager, LLC, SunBridge Holdings, LLC – Delaware limited liability companies<br> Martin Friedman – United States citizen<br> Realty Investment Company, Inc – Maryland corporation |
| **Item 2(d).** | **Title of Class of Securities:** |
|  | Common Stock |
| **Item 2(e).** | **CUSIP Number:** |
|  | 597742105 |
| **Item 3.** | **If This Statement is Filed Pursuant to §§240.13d-1(b), or 240.13d-2(b) or (c), Check Whether the Person Filing is a:** |

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(a) ☐ Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o).

(b) ☐ Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c).

(c) ☐ Insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c).

(d) ☐ Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).

(e) ☐ An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E);

(f) ☐ An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F);

(g) ☐ A parent holding company or control person in accordance with §240.13d-1(b)(ii)(G);

(h) ☐ A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

(i) ☐ A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act (15 U.S.C. 80a-3);

(j) ☐ Group, in accordance with §240.13d-1(b)(1)(ii)(J).

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| **CUSIP No.** | 597742105 | Page 13 of 17 |

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|:---|:---|
| **Item 4.** | **Ownership.** |
|  | Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. |

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|:---|:---|
| (a) | Amount beneficially owned: |
|  | FJ Capital Management LLC – 1,362,125 shares<br> Financial Opportunity Fund LLC – 943,249 shares<br> Financial Opportunity Long/Short Fund LLC – 43,748 shares<br> Martin Friedman – 1,362,125 shares<br> Bridge Equities III, LLC – 275,828 shares<br> Bridge Equities XI, LLC – 39,808 shares<br> SunBridge Manager, LLC – 315,636 shares<br> SunBridge Holdings, LLC - 315,636 shares<br> Realty Investment Company, Inc – 315,636 shares |
| (b) | Percent of class: |
|  | FJ Capital Management LLC – 6.17%<br> Financial Opportunity Fund LLC – 4.27%<br> Financial Opportunity Long/Short Fund LLC – 0.20%<br> Martin Friedman – 6.17%<br> Bridge Equities III, LLC – 1.25%<br> Bridge Equities XI, LLC – 0.18%<br> SunBridge Manager, LLC – 1.43%<br> SunBridge Holdings, LLC – 1.43%<br> Realty Investment Company, Inc – 1.43% |
| (c) | Number of shares as to which such person has: |
| (i) | Sole power to vote or to direct the vote |
|  | All Reporting Persons - 0 |
| (ii) | Shared power to vote or to direct the vote |
|  | FJ Capital Management LLC – 1,362,125shares<br> Financial Opportunity Fund LLC – 943,249 shares<br> Financial Opportunity Long/Short Fund LLC – 43,748 shares<br> Martin Friedman – 1,362,125 shares<br> Bridge Equities III, LLC – 275,828 shares<br> Bridge Equities XI, LLC – 39,808 shares<br> SunBridge Manager, LLC – 315,636 shares<br> SunBridge Holdings, LLC - 315,636 shares<br> Realty Investment Company, Inc – 315,636 shares |

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| **CUSIP No.** | 597742105 | Page 14 of 17 |

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|:---|:---|
| (iii) | Sole power to dispose or to direct the disposition of |
|  | All Reporting Persons – 0 |
| (iv) | Shared power to dispose or to direct the disposition of |
|  | FJ Capital Management LLC – 1,046,489 shares<br> Financial Opportunity Fund LLC – 943,249 shares<br> Financial Opportunity Long/Short Fund LLC – 43,748 shares<br> Martin Friedman – 1,046,489 shares<br> Bridge Equities III, LLC – 275,828 shares<br> Bridge Equities XI, LLC – 39,808 shares<br> SunBridge Manager, LLC – 315,636 shares<br> SunBridge Holdings, LLC - 315,636 shares<br> Realty Investment Company, Inc – 315,636 shares |

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|:---|:---|
| **Item 5.** | **Ownership of Five Percent or Less of a Class.** |
|  | If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following ☐ |
| **Item 6.** | **Ownership of More than Five Percent on Behalf of Another Person.** |
|  | N/A. |
| **Item 7.** | **Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.** |
|  | N/A |
| **Item 8.** | **Identification and Classification of Members of the Group.** |
|  | Due to the relationships among them, the reporting persons hereunder may be deemed to constitute a "group" with one another for purposes of Section 13(d)(3) of the Securities Exchange Act of 1934. |
| **Item 9.** | **Notice of Dissolution of Group.** |
|  | N/A |

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|:---|:---|
| **Item 10.** | **Certification.** |
|  | By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having such purpose or effect. |

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|:---|:---|:---|
| **CUSIP No.** | 597742105 | Page 15 of 17 |

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After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

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|:---|:---|
| Date: 2/1/2023<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Financial Opportunity Fund LLC**<br> By: FJ Capital Management LLC, its Managing Member<br>By: <u>/s/ Martin Friedman</u> <br> Name: Martin Friedman<br> Title: Managing Member<br>**Financial Opportunity Long/Short Fund LLC**<br> By: FJ Capital Management LLC, its Managing Member<br>By: <u>/s/ Martin Friedman</u> <br> Name: Martin Friedman<br> Title: Managing Member<br>**FJ Capital Management LLC**<br>By: <u>/s/ Martin Friedman</u> <br> Name: Martin Friedman<br> Title: Managing Member<br><u>/s/ Martin Friedman</u> <br> MARTIN S. FRIEDMAN<br>|

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| **CUSIP No.** | 597742105 | Page 16 of 17 |

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|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Bridge Equities III, LLC**<br> By: SunBridge Manager, LLC, its Managing Member<br>By: <u>/s/ Christine Shreve</u> <br> Name: Christine A. Shreve<br> Title: Manager<br>**Bridge Equities XI, LLC**<br> By: SunBridge Manager, LLC, its Managing Member<br>By: <u>/s/ Christine Shreve</u> <br> Name: Christine A. Shreve<br> Title: Manager<br>**SunBridge Manager, LLC**<br> By: SunBridge Holdings, LLC, its Managing Member<br>By: <u>/s/ Christine Shreve</u> <br> Name: Christine A. Shreve<br> Title: President<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **SunBridge Holdings, LLC**<br> By: Realty Investment Company, Inc., its Manager<br>By: <u>/s/ Christine Shreve</u> <br> Name: Christine A. Shreve<br> Title: President <br>**realty investment company, inc.**<br>By: <u>/s/ Christine Shreve</u> <br> Name: Christine A. Shreve<br> Title: President<br>|

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|:---|:---|:---|
| **CUSIP No.** | 597742105 | Page 17 of 17 |

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Joint Filing Agreement

The undersigned agree that this Schedule 13G, and all amendments thereto, relating to the Common Stock **Midland States Bancorp Inc Illinois (MSBI)** shall be filed on behalf of the undersigned.

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|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **FINANCIAL OPPORTUNITY FUND LLC**<br> By: FJ Capital Management, LLC<br>By: <u>/s/ Martin Friedman</u> <br> Name: Martin Friedman<br> Title: Managing Member <br>**Financial Opportunity Long/Short**<br> **FUND LLC**<br> By: FJ Capital Management, LLC<br>By: <u>/s/ Martin Friedman</u> <br> Name: Martin Friedman<br> Title: Managing Member<br>**FJ CAPITAL MANAGEMENT LLC**<br>By: <u>/s/ Martin Friedman</u> <br> Name: Martin Friedman<br> Title: Managing Member<br><u>/s/ Martin Friedman</u> <br> MARTIN FRIEDMAN<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Bridge Equities XI, LLC**<br> By: SunBridge Manager, LLC, its Managing Member<br>By: <u>/s/ Christine A. Shreve</u> <br> Name: Christine A. Shreve<br> Title: Manager<br>**Bridge Equities III, LLC**<br> By: SunBridge Manager, LLC, its Managing Member<br>By: <u>/s/ Christine A. Shreve</u> <br> Name: Christine A. Shreve<br> Title: Manager<br>**SunBridge Manager, LLC**<br> By: SunBridge Holdings, LLC, its Managing Member<br>By: <u>/s/ Christine A. Shreve</u> <br> Name: Christine A. Shreve<br> Title: President<br>**Sunbridge holdings, llc**<br> By: Realty Investment Company, Inc., its Manager<br>By: <u>/s/ Christine A. Shreve</u> <br> Name: Christine A. Shreve<br> Title: President<br>**realty investment company, inc.**<br>By: <u>/s/ Christine A. Shreve</u> <br> Name: Christine A. Shreve<br> Title: President<br>|

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