Midland States Bancorp Management
Management criteria checks 4/4
Midland States Bancorp's CEO is Jeff Ludwig, appointed in Mar 2018, has a tenure of 8.17 years. total yearly compensation is $1.53M, comprised of 48.9% salary and 51.1% bonuses, including company stock and options. directly owns 1.98% of the company’s shares, worth $10.73M. The average tenure of the management team and the board of directors is 2.3 years and 7.5 years respectively.
Key information
Jeff Ludwig
Chief executive officer
US$1.5m
Total compensation
| CEO salary percentage | 48.93% |
| CEO tenure | 8.2yrs |
| CEO ownership | 2.0% |
| Management average tenure | 2.3yrs |
| Board average tenure | 7.5yrs |
Recent management updates
Recent updates
New Shareholder Shows Surprise Confidence In Midland States Bancorp
Feb 24Midland States Bancorp (NASDAQ:MSBI) Is Paying Out A Larger Dividend Than Last Year
Aug 11
Taking A Pass On Midland States Bancorp
Apr 14Midland States Bancorp's (NASDAQ:MSBI) Dividend Will Be $0.31
Feb 08Midland States Bancorp: Earnings Cause Shares To Plunge, Why I'm Not Buying
Jan 25Midland States Bancorp: Some Improvement, But Still Avoiding Preferred Shares
Aug 13Shareholders May Be A Bit More Conservative With Midland States Bancorp, Inc.'s (NASDAQ:MSBI) CEO Compensation For Now
May 01Midland States Bancorp: Why I Sold The Preferred Shares
Mar 26Midland States Bancorp's (NASDAQ:MSBI) Upcoming Dividend Will Be Larger Than Last Year's
May 06CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Mar 31 2026 | n/a | n/a | US$26m |
| Dec 31 2025 | US$2m | US$750k | -US$134m |
| 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$55m |
Compensation vs Market: Jeff's total compensation ($USD1.53M) is below average for companies of similar size in the US market ($USD2.57M).
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 President, CEO & Vice Chairman of Midland States Bancorp, Inc. from 2020. He is CEO of Midland States Bank and had been its President. Mr. Ludwig was Chief Exe...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 8.2yrs | US$1.53m | 1.98% $ 10.7m | |
| Executive Vice President | 7.3yrs | US$1.02m | 0.37% $ 2.0m | |
| EVP & Chief Risk Officer of Midland States Bank | 2.3yrs | US$564.27k | 0.14% $ 734.9k | |
| Executive VP & Chief Banking Officer | 1.8yrs | US$1.43m | 0.31% $ 1.7m | |
| VP, Chief Accounting Officer & Interim CFO | less than a year | no data | 0.0079% $ 42.7k | |
| Chief Information Officer | no data | no data | 0.068% $ 369.5k | |
| Director of Human Resources | no data | no data | no data | |
| Executive VP of Consumer Banking and Wealth Management | no data | no data | no data | |
| Chief Investment Officer of Midland Wealth Management | no data | no data | no data |
Experienced Management: MSBI's management team is considered experienced (2.3 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 7.3yrs | US$1.53m | 1.98% $ 10.7m | |
| Independent Director | 14.3yrs | US$101.00k | 0.097% $ 522.9k | |
| Independent Director | less than a year | no data | no data | |
| Independent Chairman of the Board | 21.3yrs | US$159.00k | 0.16% $ 887.2k | |
| Independent Director | 24.3yrs | US$113.00k | 0.49% $ 2.7m | |
| Independent Director | 14.3yrs | US$102.50k | 0.57% $ 3.1m | |
| Independent Director | 11.3yrs | US$91.00k | 0.13% $ 682.3k | |
| Independent Director | 2yrs | US$93.00k | 0% $ 0 | |
| Independent Director | 2.3yrs | US$105.00k | 0.019% $ 104.1k | |
| Independent Director | 5.4yrs | US$108.00k | 0.14% $ 746.5k | |
| Independent Director | 7.5yrs | US$96.00k | 0.033% $ 176.9k |
Experienced Board: MSBI's board of directors are considered experienced (7.5 years average tenure).
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/01 14:39 |
| End of Day Share Price | 2026/05/01 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
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 |
|---|---|
| null null | D.A. Davidson & Co. |
| Jeffrey Rulis | D.A. Davidson & Co. |
| Damon DelMonte | Keefe, Bruyette, & Woods |