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Co-Manager

Midland States Bancorp, Inc.

$92.1 Million 05/23/2016 Depository Complete
Lead Banker: Scott Studwell
Public Companies
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Transaction Details

  • On May 23, 2016, Midland States Bancorp, Inc. (NASDAQ: MSBI) (“Midland” or the “Company”) priced an Initial Public Offering for a total deal value of $92.1 million(1)
  • The deal priced 4,184,568 shares of common stock at $22.00 per share(1)
  • The offering consisted of 3,590,065 primary shares and 594,503 secondary shares(1)
  • Midland intends to contribute $25.0 million of the net proceeds received from the offering to the Bank, of which approximately $4.8 million is expected to be used in connection with the pending acquisition of wealth management assets from Sterling National Bank, and to use the remainder for general corporate purposes, which could include future acquisitions and other growth initiatives
  • Stephens Inc. served as Co-Manager in the offering

About the company

Midland States Bancorp, Inc. is a diversified financial holding company headquartered in Effingham, Illinois. The 135-year old banking subsidiary, Midland States Bank, has branches across Illinois and in Missouri and Colorado.

The Company provides a broad array of traditional community banking and other complementary financial services, including commercial lending, residential mortgage origination, wealth management, merchant services and prime consumer lending. As of March 31, 2016, the Company had $2.9 billion in assets, $2.4 billion of deposits and $238.6 million of shareholders’ equity.

Sources: Company filings.
  1. (1) Includes the overallotment of 545,813 shares.

    This material has been prepared solely for informative purposes as of its stated date and is not a solicitation, or an offer, to buy or sell any security. It does not purport to be a complete description of the securities, markets or developments referred to in the material. Information included in the material was obtained from external sources which we consider reliable, but we have not independently verified such information and do not guarantee that it is accurate or complete. Such information is believed to be accurate on the date of issuance of the material. No subsequent publication or distribution of this material shall mean or imply that any such information or opinion remains current at any time after the stated date of the material. We do not undertake to advise you of any changes in any such information or opinion. Additional information is available upon request.

    The offering of these securities is being made only by means of a prospectus, copies of which may be obtained from Stephens Inc.’s Equity Syndicate Desk, at Stephens Inc., 111 Center Street, Little Rock, AR 72201, ATTN: Equity Syndicate Desk, or from the Securities and Exchange Commission’s website at www.sec.gov at the following link: http://www.sec.gov/Archives/edgar/data/1466026/000104746916013399/a2228770z424b4.htm. A registration statement relating to these securities has been filed with the Securities and Exchange Commission. No offer to buy the securities can be accepted and no part of the purchase price can be received until the registration statement has become effective, and any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time prior to the notice of its acceptance given after the effective date.