Midland States Bancorp in Effingham, Ill., has plucked its new chief financial officer from a much larger bank.
Kevin Thompson joins the $3.2 billion-asset Midland from Zions Bancorp. in Salt Lake City, where he had been senior vice president of corporate finance since 2014. His responsibilities at the $61 billion-asset Zions included financial planning and analysis, budgeting and stress testing.
Midland said Monday that it hired Thompson to succeed Jeffrey Ludwig as CFO of the company and its Midland States Bank unit. Ludwig was promoted to president of the bank in February.
Before Zions, Thompson spent eight years at American Express, where he rose to CFO and treasurer of the $35 billion-asset American Express Centurion Bank, managing its asset and liability process, interest rate risk, budgeting and other matters.
"Kevin possesses an impressive range of financial, strategic and analytical skills that he developed while serving in senior finance positions at large financial institutions such as Zions Bancorporation and American Express," Leon Holschbach, president and chief executive of Midland States Bancorp, said a news release. "He has extensive experience working with broadly diversified, high-growth institutions and will be an effective leader as we continue to build the Midland franchise."
Midland last week completed its acquisition of the trust department of Sterling Bancorp in Yonkers, N.Y., a deal that was announced in February, and announced a new program called Operational Excellence to focus on operating efficiency, financial performance, technological processes and staffing improvements.