Midland States Bancorp in Effingham, Ill., is planning to raise $120 million through an initial public offering.
The $2.9 billion-asset company said in a
Midland said in the filing that it plans to use about $4.8 million in net proceeds from the offering to
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The head of Midland States Bancorp in Effingham, Ill., is handing off one of his handful of titles to concentrate more on the big picture.
March 4 -
Midland States Bancorp in Effingham, Ill., has agreed to buy about $400 million in wealth management assets from Sterling Bancorp in Yonkers, N.Y.
February 24 -
Higher loan demand is helping banks and thrifts with $2 billion to $10 billion of assets improve their profitability. Of the 191 institutions that qualified for our mid-tier ranking this year, 40% posted a three-year average return on equity in the double digits, up from 34% in our previous ranking.
May 26
The filing also disclosed that a number of shareholders plan to sell about 428,000 shares in the offering. Midland will not collect any proceeds from those sales.
Sandler O'Neill and Keefe, Bruyette & Woods are the book-running agents, while D.A. Davidson and Stephens are co-managers.
