Midland States Bancorp, Inc. Announces 2024 Fourth Quarter Results
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Midland States Bancorp, Inc. reported a net loss of $54.8 million for Q4 2024, driven by significant charge-offs and provisions for credit losses related to its LendingPoint and Greensky loan portfolios. The company plans to sell its Greensky portfolio and has seen a decrease in its capital ratios.
January 23, 2025 | 9:45 pm
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Midland States Bancorp, Inc. reported a significant net loss of $54.8 million for Q4 2024, primarily due to charge-offs and provisions for credit losses from its LendingPoint and Greensky portfolios. The company is selling its Greensky portfolio and has seen a decline in capital ratios.
The significant net loss and the decision to sell the Greensky portfolio indicate financial challenges. The decrease in capital ratios and high charge-offs suggest potential instability, likely leading to a negative short-term impact on the stock price.
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