Midland States Bancorp Management
Management criteria checks 3/4
Midland States Bancorp's CEO is Jeff Ludwig, appointed in Mar 2018, has a tenure of 7.67 years. total yearly compensation is $1.47M, comprised of 51.1% salary and 48.9% bonuses, including company stock and options. directly owns 1.91% of the company’s shares, worth €5.55M. The average tenure of the management team and the board of directors is 6.4 years and 8.9 years respectively.
Key information
Jeff Ludwig
Chief executive officer
US$1.5m
Total compensation
| CEO salary percentage | 51.14% |
| CEO tenure | 7.7yrs |
| CEO ownership | 1.9% |
| Management average tenure | 6.4yrs |
| Board average tenure | 8.9yrs |
Recent management updates
Recent updates
CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Sep 30 2025 | n/a | n/a | -US$161m |
| Jun 30 2025 | n/a | n/a | -US$148m |
| Mar 31 2025 | n/a | n/a | -US$135m |
| Dec 31 2024 | US$1m | US$750k | US$29m |
| Sep 30 2024 | n/a | n/a | US$65m |
| Jun 30 2024 | n/a | n/a | US$56m |
| Mar 31 2024 | n/a | n/a | US$52m |
| Dec 31 2023 | US$2m | US$721k | US$52m |
| Sep 30 2023 | n/a | n/a | US$77m |
| Jun 30 2023 | n/a | n/a | US$91m |
| Mar 31 2023 | n/a | n/a | US$94m |
| Dec 31 2022 | US$2m | US$700k | US$96m |
| Sep 30 2022 | n/a | n/a | US$88m |
| Jun 30 2022 | n/a | n/a | US$84m |
| Mar 31 2022 | n/a | n/a | US$83m |
| Dec 31 2021 | US$2m | US$572k | US$80m |
| Sep 30 2021 | n/a | n/a | US$66m |
| Jun 30 2021 | n/a | n/a | US$47m |
| Mar 31 2021 | n/a | n/a | US$39m |
| Dec 31 2020 | US$1m | US$572k | US$22m |
| Sep 30 2020 | n/a | n/a | US$27m |
| Jun 30 2020 | n/a | n/a | US$39m |
| Mar 31 2020 | n/a | n/a | US$43m |
| Dec 31 2019 | US$1m | US$572k | US$55m |
| Sep 30 2019 | n/a | n/a | US$59m |
| Jun 30 2019 | n/a | n/a | US$55m |
| Mar 31 2019 | n/a | n/a | US$51m |
| Dec 31 2018 | US$1m | US$472k | US$39m |
Compensation vs Market: Jeff's total compensation ($USD1.47M) is above average for companies of similar size in the German market ($USD994.34K).
Compensation vs Earnings: Jeff's compensation has been consistent with company performance over the past year.
CEO
Jeff Ludwig (53 yo)
Mr. Jeffrey G. Ludwig, also known as Jeff, is Chairman, President & CEO of Midland States Bank. Mr. Ludwig was CEO & Vice Chairman of Midland States Bank from 2022. Mr. Ludwig was CEO & Director of Midland...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 7.7yrs | US$1.47m | 1.91% € 5.6m | |
| Chief Financial Officer | 6yrs | US$718.14k | 0.20% € 568.6k | |
| Executive Vice President | 6.8yrs | US$970.59k | 0.36% € 1.0m | |
| EVP & Chief Risk Officer of Midland States Bank | 1.8yrs | US$531.87k | 0.11% € 314.0k | |
| Chief Accounting Officer & Corporate Controller | 16.8yrs | US$446.02k | 0.042% € 122.6k | |
| Chief Information Officer | no data | no data | no data | |
| Director of Human Resources | no data | no data | no data | |
| Executive VP of Consumer Banking and Wealth Management | no data | no data | no data | |
| EVP & Chief Credit Officer of Midland States Bank | 1.3yrs | no data | 0.27% € 780.6k | |
| Chief Investment Officer of Midland Wealth Management | no data | no data | no data |
Experienced Management: 6HU0's management team is seasoned and experienced (6.4 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 6.8yrs | US$1.47m | 1.91% € 5.6m | |
| Independent Director | 13.8yrs | US$103.50k | 0.098% € 284.9k | |
| Independent Chairman of the Board | 20.8yrs | US$152.75k | 0.16% € 453.8k | |
| Independent Director | 23.8yrs | US$110.50k | 0.48% € 1.4m | |
| Independent Director | 13.8yrs | US$98.50k | 0.55% € 1.6m | |
| Independent Director | 10.8yrs | US$88.50k | 0.12% € 354.2k | |
| Independent Director | 1.5yrs | US$79.00k | 0% € 0 | |
| Independent Director | 1.8yrs | US$92.50k | 0.019% € 54.0k | |
| Independent Director | 4.9yrs | US$103.00k | 0.11% € 320.0k | |
| Independent Director | 7yrs | US$92.00k | 0.032% € 91.8k |
Experienced Board: 6HU0's board of directors are considered experienced (8.9 years average tenure).
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2025/11/25 01:04 |
| End of Day Share Price | 2025/11/25 00:00 |
| Earnings | 2025/09/30 |
| Annual Earnings | 2024/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
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Analyst Sources
Midland States Bancorp, Inc. is covered by 9 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Jeffrey Rulis | D.A. Davidson & Co. |
| null null | D.A. Davidson & Co. |
| Damon DelMonte | Keefe, Bruyette, & Woods |