v3.25.2
PARENT COMPANY ONLY FINANCIAL INFORMATION - Condensed Statements of Cash Flows (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Jun. 30, 2024
Jun. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:                          
Net income $ 20,431 $ 25,719 $ 22,663 $ 8,690 $ 16,535 $ 15,822 $ 48,382 $ 32,357 $ 68,813 $ 41,047 $ 38,044 $ 61,155 $ 100,237
Adjustments to reconcile net income to net cash provided by operating activities:                          
Share-based compensation expense                     3,031 2,489 2,211
Change in other assets     3,078     1,815 (9,820) (16,197) 12,117 (64,413) (16,783) (24,038) 1,213
Change in other liabilities     (5,157)     (14,949) (4,801) 9,995 (13,675) 30,834 18,022 27,579 (13,579)
Net cash provided by operating activities     43,072     25,506 74,514 77,995 121,022 97,462 176,546 153,358 285,819
Cash flows from investing activities:                          
Net cash provided by (used in) investing activities     26,914     (107,910) 34,361 (203,084) 32,212 (174,028) 136,708 (74,800) (1,137,641)
Cash flows from financing activities:                          
Payments made on subordinated debt                     (15,763) (5,845) (40,000)
Common stock repurchased                     (5,475) (17,898) (1,109)
Cash dividends paid on common stock                     (27,072) (26,573) (25,923)
Cash dividends paid on preferred stock                     (8,913) (8,913) (3,169)
Proceeds from issuance of preferred stock                     0 0 110,548
Proceeds from issuance of common stock under employee benefit plans                     1,326 1,670 2,188
Net cash (used in) provided by financing activities                     (333,549) (104,128) 332,082
Net decrease in cash and cash equivalents                     (20,295) (25,570) (519,740)
Cash and cash equivalents:                          
Beginning of period     135,061       135,061   135,061   135,061    
End of period                     114,766 135,061  
Midland States Bancorp, Inc.                          
Cash flows from operating activities:                          
Net income                     38,044 61,155 100,237
Adjustments to reconcile net income to net cash provided by operating activities:                          
Equity in undistributed loss (income) of subsidiaries                     10,347 (13,981) (91,233)
Share-based compensation expense                     3,031 2,489 2,211
Change in other assets                     (2,468) 462 (373)
Change in other liabilities                     (804) (198) 1,639
Net cash provided by operating activities                     48,150 49,927 12,481
Cash flows from investing activities:                          
Capital injection to bank subsidiary                     0 0 (50,000)
Change in note receivable due from bank subsidiary                     5,150 10,000 (40,000)
Net cash received in dissolution of subsidiary                     0 2,674 0
Net cash provided by (used in) investing activities                     5,150 12,674 (90,000)
Cash flows from financing activities:                          
Payments on other borrowings                     0 0 (171)
Payments made on subordinated debt                     (15,763) (5,845) (40,000)
Common stock repurchased                     (5,475) (17,898) (1,109)
Cash dividends paid on common stock                     (27,072) (26,573) (25,923)
Cash dividends paid on preferred stock                     (8,913) (8,913) (3,169)
Proceeds from issuance of preferred stock                     0 0 110,548
Proceeds from issuance of common stock under employee benefit plans                     1,326 1,670 2,188
Net cash (used in) provided by financing activities                     (55,897) (57,559) 42,364
Net decrease in cash and cash equivalents                     (2,597) 5,042 (35,155)
Cash and cash equivalents:                          
Beginning of period     $ 7,763     $ 2,721 $ 7,763 $ 2,721 $ 7,763 $ 2,721 7,763 2,721 37,876
End of period                     $ 5,166 $ 7,763 $ 2,721