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 6.75 years. total yearly compensation is $1.63M, comprised of 44.1% salary and 55.9% bonuses, including company stock and options. directly owns 1.73% of the company’s shares, worth €8.75M. The average tenure of the management team and the board of directors is 6.8 years and 6.1 years respectively.
Key information
Jeff Ludwig
Chief executive officer
US$1.6m
Total compensation
| CEO salary percentage | 44.1% |
| CEO tenure | 6.8yrs |
| CEO ownership | 1.7% |
| Management average tenure | 6.8yrs |
| Board average tenure | 6.1yrs |
Recent management updates
Recent updates
CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Sep 30 2024 | n/a | n/a | US$50m |
| Jun 30 2024 | n/a | n/a | US$43m |
| Mar 31 2024 | n/a | n/a | US$58m |
| Dec 31 2023 | US$2m | US$721k | US$66m |
| 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$95m |
| 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 |
| Sep 30 2018 | n/a | n/a | US$25m |
| Jun 30 2018 | n/a | n/a | US$18m |
| Mar 31 2018 | n/a | n/a | US$9m |
| Dec 31 2017 | US$822k | US$405k | US$16m |
Compensation vs Market: Jeff's total compensation ($USD1.63M) is above average for companies of similar size in the German market ($USD1.02M).
Compensation vs Earnings: Jeff's compensation has been consistent with company performance over the past year.
CEO
Jeff Ludwig (52 yo)
6.8yrs
Tenure
US$1,633,785
Compensation
Mr. Jeffrey G. Ludwig, also known as Jeff, CPA, serves as Chief Executive Officer at Midland States Bancorp, Inc. since January 1, 2019 and has been its Director since February 05, 2019. He serves as Vice...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 6.8yrs | US$1.63m | 1.73% € 8.8m | |
| Chief Financial Officer | 5.1yrs | US$742.20k | 0.14% € 687.5k | |
| Senior VP | 14.2yrs | US$713.56k | 0.18% € 920.8k | |
| Executive Vice President | 5.9yrs | US$1.09m | 0.27% € 1.3m | |
| Senior VP & Chief Risk Officer of Midland States Bank | less than a year | US$573.81k | 0.063% € 319.9k | |
| Chief Accounting Officer & Corporate Controller | 15.9yrs | US$446.02k | 0.025% € 128.3k | |
| Chief Information Officer | no data | no data | no data | |
| Chief Compliance Officer | no data | no data | no data | |
| Director of Human Resources | no data | no data | no data | |
| Senior VP & Chief Credit Officer of Midland States Bank | 14.4yrs | US$268.18k | 0.24% € 1.2m | |
| Senior Vice President of Banking | no data | no data | no data | |
| Senior Vice President of Banking | no data | no data | no data |
6.8yrs
Average Tenure
61yo
Average Age
Experienced Management: 6HU0's management team is seasoned and experienced (6.8 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 5.8yrs | US$1.63m | 1.73% € 8.8m | |
| Independent Director | 12.8yrs | US$96.00k | 0.086% € 436.3k | |
| Independent Chairman of the Board | 19.9yrs | US$129.00k | 0.15% € 777.0k | |
| Independent Director | 22.9yrs | US$98.00k | 0.47% € 2.4m | |
| Independent Director | 12.9yrs | US$86.00k | 1.08% € 5.5m | |
| Independent Director | 9.9yrs | US$76.00k | 0.12% € 618.5k | |
| Director | less than a year | no data | no data | |
| Independent Director | less than a year | no data | 0.0047% € 23.6k | |
| Independent Director | 4yrs | US$88.00k | 0.11% € 558.8k | |
| Independent Director | 2.5yrs | US$78.00k | 0.026% € 133.5k | |
| Independent Director | 6.1yrs | US$78.00k | 0.020% € 99.0k |
6.1yrs
Average Tenure
59yo
Average Age
Experienced Board: 6HU0's board of directors are considered experienced (6.1 years average tenure).
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2024/12/23 09:39 |
| End of Day Share Price | 2024/12/20 00:00 |
| Earnings | 2024/09/30 |
| Annual Earnings | 2023/12/31 |
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 |
| |
| Analyst Consensus Estimates | +3 years |
|
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| Market Prices | 30 years |
| |
| 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 here.
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 8 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 |