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 6.83 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 $8.67M. The average tenure of the management team and the board of directors is 6.4 years and 6.2 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 | 6.4yrs |
| Board average tenure | 6.2yrs |
Recent management updates
Recent updates
Midland 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 01
Midland 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 06Should You Be Adding Midland States Bancorp (NASDAQ:MSBI) To Your Watchlist Today?
Mar 14Midland States Bancorp (NASDAQ:MSBI) Is Paying Out A Larger Dividend Than Last Year
Feb 13Midland States Bancorp (NASDAQ:MSBI) Will Pay A Dividend Of $0.29
Nov 04Midland States Bancorp Non-GAAP EPS of $1.04 beats by $0.03, revenue of $79.85M beats by $0.41M
Oct 20Do Midland States Bancorp's (NASDAQ:MSBI) Earnings Warrant Your Attention?
Oct 19Midland States Bancorp: Attractively Valued With A Positive Growth Outlook
Sep 07Midland States Bancorp prices $115M depositary stock offering
Aug 17Midland States Bancorp's (NASDAQ:MSBI) Dividend Will Be $0.29
Aug 13Midland States Bancorp GAAP EPS of $0.97 beats by $0.04, revenue of $75.95M beats by $0.38M
Jul 28Midland States Bancorp: I'm Still On The Sidelines
Jun 22Midland States Bancorp (NASDAQ:MSBI) Has Announced A Dividend Of US$0.29
May 07Midland States Bancorp: Rosy Outlook For Rate-Sensitive Topline
Apr 01Midland States Bancorp's (NASDAQ:MSBI) Shareholders Will Receive A Bigger Dividend Than Last Year
Feb 05CEO 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$39m |
Compensation vs Market: Jeff's total compensation ($USD1.63M) is about average for companies of similar size in the US market ($USD2.26M).
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% $ 8.7m | |
| Chief Financial Officer | 5.2yrs | US$742.20k | 0.14% $ 680.9k | |
| Executive Vice President | 6yrs | 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% $ 316.8k | |
| Chief Accounting Officer & Corporate Controller | 16yrs | US$446.02k | 0.025% $ 127.1k | |
| 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 | 14.5yrs | 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 | |
| Chief Operating Officer of Wealth Management | no data | no data | no data |
6.4yrs
Average Tenure
59yo
Average Age
Experienced Management: MSBI's management team is seasoned and experienced (6.4 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 5.9yrs | US$1.63m | 1.73% $ 8.7m | |
| Independent Director | 12.9yrs | US$96.00k | 0.086% $ 432.1k | |
| Independent Chairman of the Board | 20yrs | US$129.00k | 0.15% $ 769.6k | |
| Independent Director | 23yrs | US$98.00k | 0.47% $ 2.3m | |
| Independent Director | 13yrs | US$86.00k | 0.54% $ 2.7m | |
| Independent Director | 10yrs | US$76.00k | 0.12% $ 612.5k | |
| Director | less than a year | no data | no data | |
| Independent Director | less than a year | no data | 0.0047% $ 23.3k | |
| Independent Director | 4.1yrs | US$88.00k | 0.11% $ 553.4k | |
| Independent Director | 2.6yrs | US$78.00k | 0.026% $ 132.2k | |
| Independent Director | 6.2yrs | US$78.00k | 0.020% $ 98.1k |
6.2yrs
Average Tenure
59yo
Average Age
Experienced Board: MSBI's board of directors are considered experienced (6.2 years average tenure).
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2025/01/08 22:52 |
| End of Day Share Price | 2025/01/08 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 |
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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 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 7 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 |