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IPO notice: Bank stocks-Midland States Bancorp (MSBI) (1881)

Midland States Bancorp, Inc. (NASDAQ:MSBI), a German bank holding company in Milan, was founded in 1881 and is headquartered in Effingham, Illinois, USA. It has 700 full-time employees (3/31/2016). It is a bank holding company that controls Midland. States Bank provides traditional community banking and other supporting financial services in Illinois, Missouri, and Colorado, including: commercial loans, residential mortgage loans, wealth management, merchant services, and consumer loans.

Midland States Bancorp Logo

Midland States Bancorp (MSBI):

Midland States Bancorp is divided into 5 departments to operate: Traditional Community Banking (Traditional Community Banking), Residential Mortgage Rrigination, Wealth Management, Commercial FHA Origination and Servicing, Commercial Equipment Leasing (Commercial Equipment Leasing).

  1. Traditional community banks : Mainly include commercial and retail loans and deposits. As of March 31, 2016, the department had a total of US$1.9 billion in loans and US$2.4 billion in deposits.
  2. Residential mortgage loans : As of December 31, 2015, a total of $580.8 million in mortgage loans had been issued.
  3. Wealth Management : Provide trust and wealth management products and services. As of March 31, 2016, the department had a total of 1.2 billion US dollars in assets.
  4. Commercial FHA initiation and services : through Love Funding Corporation (acquired by the acquisition of Heartland Bank) to provide mortgage loans for multi-family commercial and medical facilities under the FHA insurance plan. As of December 31, 2015, a total of 382.9 million US dollars in loans were issued.
  5. Commercial equipment leasing : Through its subsidiary Heartland Business Credit (acquired by acquiring Heartland Bank), it provides equipment and software suppliers and their customers with customized leasing and financing solutions. As of March 31, 2016, the department issued a total of 157.7 million US dollars loan.

In December 2014, Midland States Bancorp acquired Heartland Bank, which expanded the company’s business to Colorado, and also greatly expanded the company’s commercial, retail and mortgage banking services in the St. Louis metropolitan area.

As of December 31, 2015, Midland States Bancorp had a total of 81 branches.

As of March 31, 2016, Midland States Bancorp used $2.9 billion in assets, $2.4 billion in deposits and $238.6 million in shareholder equity.

Midland States Bancorp (MSBI) investment:

Midland States Bancorp, Inc. submitted its IPO prospectus on April 11, 2016. It plans to land on Nasdaq on 5/24/2016 and issue 3.639 million shares with an issue price of US$22.00 and a fund-raising of US$80.05 million. The stock code: MSBI.

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