Midland States Bancorp, Inc. Earnings Per Share Disclosure
| Years Ended December 31, | |||||||||||||||||
| (dollars in thousands, except per share data) | 2025 | 2024 | 2023 | ||||||||||||||
| Net income (loss) | $ | (124,281) | $ | 38,044 | $ | 61,155 | |||||||||||
| Preferred dividends declared | (8,913) | (8,913) | (8,913) | ||||||||||||||
| Net income (loss) available to common shareholders | (133,194) | 29,131 | 52,242 | ||||||||||||||
| Common shareholder dividends | (27,147) | (26,622) | (26,234) | ||||||||||||||
| Unvested restricted stock award dividends | (532) | (450) | (339) | ||||||||||||||
| Undistributed earnings to unvested restricted stock awards | — | (33) | (311) | ||||||||||||||
| Undistributed earnings (loss) to common shareholders | $ | (160,873) | $ | 2,026 | $ | 25,358 | |||||||||||
| Basic | |||||||||||||||||
| Distributed earnings to common shareholders | $ | 27,147 | $ | 26,622 | $ | 26,234 | |||||||||||
| Undistributed earnings (loss) to common shareholders | (160,873) | 2,026 | 25,358 | ||||||||||||||
| Total common shareholders earnings (loss), basic | $ | (133,726) | $ | 28,648 | $ | 51,592 | |||||||||||
| Diluted | |||||||||||||||||
| Distributed earnings to common shareholders | $ | 27,147 | $ | 26,622 | $ | 26,234 | |||||||||||
| Undistributed earnings (loss) to common shareholders | (160,873) | 2,026 | 25,358 | ||||||||||||||
| Total common shareholders earnings (loss) | (133,726) | 28,648 | 51,592 | ||||||||||||||
| Add back: | |||||||||||||||||
| Undistributed earnings reallocated from unvested restricted stock awards | — | — | — | ||||||||||||||
| Total common shareholders earnings (loss), diluted | $ | (133,726) | $ | 28,648 | $ | 51,592 | |||||||||||
| Weighted average common shares outstanding, basic | 21,833,098 | 21,731,689 | 22,115,869 | ||||||||||||||
| Dilutive effect of options | — | 6,269 | 8,533 | ||||||||||||||
| Weighted average common shares outstanding, diluted | 21,833,098 | 21,737,958 | 22,124,402 | ||||||||||||||
| Basic earnings (loss) per common share | $ | (6.12) | $ | 1.32 | $ | 2.33 | |||||||||||
| Diluted earnings (loss) per common share | $ | (6.12) | $ | 1.32 | $ | 2.33 | |||||||||||
Antidilutive stock options(1) | 175,863 | 274,861 | 302,020 | ||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 2, 2026 | Showing above |
| 2024 | Jul 1, 2025 | |
| 2023 | Feb 23, 2024 | |
| 2022 | Feb 24, 2023 | |
| 2021 | Feb 25, 2022 | |
| 2020 | Feb 26, 2021 | |
| 2019 | Feb 28, 2020 | |
| 2018 | Feb 28, 2019 | |
| 2017 | Mar 6, 2018 | |
| 2016 | Mar 10, 2017 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.