Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Fri, March 31, 3:16 AM
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Slide #84. Midland States Bancorp, Inc. — Preferred Stock Offering
Midland States Bancorp, Inc. (NASDAQ:MSBIP)
Date of Pricing:
Price Per Share:
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 is a bank holding company. Through its subsidiary, Midland States Bank, Co. has branches across Illinois and in Missouri, and provides a range of commercial and consumer banking products and services, business equipment financing, merchant credit card services, trust and investment management, and insurance and financial planning services. Co.'s community banking business consists of commercial and retail lending and deposit taking. Co. provides depository products, including checking, savings, money market and certificates of deposits. Co. also provides sweep accounts to its business customers and sweep accounts that are guaranteed through repurchase agreements.
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