PreferredStockChannel
Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Mon, June 23, 1:35 AM
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Slide #50. Midland States Bancorp, Inc. — Preferred Stock Offering
Company:
Midland States Bancorp, Inc. (NASDAQ:MSBIP)
Date announced:
8/17/2022
Shares Offered:
4,600,000
Date of Pricing:
8/17/2022
Price Per Share:
$25.00
Preferred Stock Offering Details:
Midland States Bancorp, Inc. ("Midland" or the "Company") (Nasdaq: MSBI), the holding company for Midland States Bank (the "Bank"), announced today that it has priced an underwritten public offering of 4,600,000 depositary shares (the "depositary shares"), each representing a 1/40th interest in a share of 7.75% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A, par value $2.00 per share, with a liquidation preference of $1,000 per share (equivalent to $25.00 per depositary share). The Company has applied to list the depositary shares on The Nasdaq Global Select Market under the symbol "MSBIP." The offering is subject to customary closing conditions and is expected to close on or about August 24, 2022.
Midland States Bancorp, Inc. is a diversified financial holding company. Its segments include Banking, Wealth Management, and Other. The Banking segment provides a range of financial products and services to consumers and businesses, including commercial, commercial real estate, mortgage and other consumer loan products; commercial equipment financing; mortgage loan sales and servicing; letters of credit; various types of deposit products, including checking, savings and time deposit accounts; merchant services; and corporate treasury management services.
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