Bitcoin price today: gains to $120k, near record high on U.S. regulatory cheer
Effingham, Illinois-based Midland States Bancorp, Inc. (NASDAQ:MSBI) announced on Monday, May 12, 2025, the resignation of Sherina M. Edwards from its Board of Directors, effective immediately. The resignation was reported in a Form 8-K filing with the Securities and Exchange Commission on Tuesday, May 13, 2025. The announcement comes as the bank, which maintains a notable 6.66% dividend yield, faces challenging market conditions with its shares down nearly 30% over the past six months.
Edwards, who has been a part of the Midland States Bancorp’s Board, stepped down from her role without citing any disagreements with the company’s operations, policies, or practices as the reason for her departure. The company’s brief statement in the filing did not elaborate on the circumstances leading to her decision or any plans for her replacement on the Board.
Midland States Bancorp, a financial holding company, operates through its subsidiary Midland States Bank, offering a range of banking services. The bank’s shares are traded on The Nasdaq Stock Market LLC under the ticker symbol MSBI. The company also has depositary shares listed under the ticker symbol MSBIP.
The information contained in this article is based on the company’s recent SEC filing and does not include any speculative content or subjective assessments. The departure of a director can be an important event for shareholders and the market, as it may signal changes within the company’s governance or strategic direction. However, in this case, the company has not provided further details regarding the resignation or any potential impact on its operations or governance.
In other recent news, Midland States Bancorp announced its preliminary financial results for the first quarter of 2025. The company reported a net income available to common shareholders of $12.6 million, or $0.57 per diluted share, and pre-tax, pre-provision earnings of $27.0 million, or $1.12 per diluted share. The preliminary data also highlighted a strong net interest margin of 3.48% and solid loan growth in its Community Bank division. Additionally, Midland States Bancorp disclosed the sale of approximately $330 million of its GreenSky loans in April 2025 and implemented tighter underwriting standards in its equipment finance portfolio. The company is optimistic about stronger profitability and growing capital ratios for the remainder of 2025.
Moreover, Midland States Bancorp faced a compliance issue with Nasdaq due to a delay in filing its annual report for the year ending December 31, 2024. The company received a deficiency notification from Nasdaq, requiring it to present a compliance plan within 60 days, with a possible extension until September 29, 2025. The delay is attributed to the evaluation of third-party lending and servicing arrangement accounting. Midland States Bancorp has assured investors it is working diligently to file the overdue Form 10-K and intends to comply with Nasdaq’s listing rules promptly. Investors are advised to monitor the company’s filings and announcements for further updates on its compliance status.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.