MSBI FINANCIAL STATEMENTS

Midland States Bancorp, Inc. — balance sheet, income statement and cash flow trends

MSBIMidland States Bancorp, Inc.

🇺🇸 USA · NASDAQ · Financial Services · Banks - Regional

Value it Duel

Income Statement

Quarterly progression — trailing-twelve-month values

RevenueNet Income

Profit Funnel

Q1 2026 · TTM

Percentages are relative to revenue.

Key Figures

YoY change

Revenue449.1 M $+13.4%

Gross Profit268.1 M $+14.1%

Operating Income47 M $+54.1%

EBITDA58.6 M $-28.6%

Net Income35.2 M $+468.9%

Peer Comparison· Banks - Regional

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
MSBI	—	—	—	7.8%
TSKB	—	—	—	54.9%
NWG	—	—	—	20.1%
LLOY	—	—	—	25.9%
SKBNK	—	—	—	14.2%
ICBCT	—	—	—	24.7%
Industry median	—	67.2%	20.4%	20.6%

Balance Sheet

Quarterly period-end values

Total AssetsTotal LiabilitiesEquity

Capital Structure

Q1 2026

Equity559 M $9%
Current Liabilities5.6 B $85%
Long-term Liabilities395.5 M $6%

Key Figures

YoY change

Total Assets6.5 B $-12.2%

Total Liabilities6 B $-10.8%

Total Equity559 M $-24.9%

Cash & ST Investments1.5 B $-1.3%

Total Debt418.4 M $-37.3%

Net Debt305.4 M $—

Peer Comparison· Banks - Regional

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
MSBI	0.26	74.9%	-17.64	8.5%
TSKB	—	0.0%	-0.47	13.4%
NWG	0.25	17.0%	-14.68	5.2%
LLOY	0.12	209.8%	5.39	5.0%
SKBNK	—	0.0%	-13.41	5.9%
ICBCT	—	0.0%	-20.34	4.0%
Industry median	0.31	38.0%	-0.58	11.0%

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
MSBI	0.26	74.9%	-17.64	8.5%
TCBX	0.13	24.2%	-6.27	9.9%
FMNB	0.11	58.2%	5.38	10.7%
BHB	0.06	40.1%	-0.68	11.5%
RRBI	0.08	0.4%	-3.62	11.2%
ACNB	0.04	66.6%	2.69	13.0%
Industry median	0.31	38.0%	-0.58	11.0%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values

Operating Cash FlowCapital ExpendituresFree Cash Flow

Cash Flow Bridge

Q1 2026 · TTM

Key Figures

YoY change

Operating Cash Flow117.9 M $-32.3%

Capital Expenditures4.6 M $-44.3%

Free Cash Flow117.1 M $-29.5%

Dividends Paid-36.7 M $-202.0%

Peer Comparison· Banks - Regional

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
MSBI	26.3%	26.1%	1.0%	335.5%
TSKB	54.9%	71.9%	17.0%	100.0%
NWG	—	—	0.0%	—
LLOY	—	—	0.0%	—
SKBNK	14.2%	31.2%	17.0%	100.0%
ICBCT	24.7%	29.9%	5.1%	100.0%
Industry median	23.6%	22.1%	1.5%	111.4%

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
MSBI	26.3%	26.1%	1.0%	335.5%
TCBX	0.4%	-3.8%	4.2%	2.4%
FMNB	18.3%	16.6%	1.7%	90.7%
BHB	18.1%	13.9%	4.2%	109.3%
RRBI	27.8%	25.3%	2.5%	107.7%
ACNB	39.5%	38.4%	1.3%	152.9%
Industry median	23.6%	22.1%	1.5%	111.4%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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Data on this page refreshes once per day. Price data as of Jul 6, 26. This content is for informational purposes only and is not investment advice.