Midland States Bancorp authorizes $45M share repurchase program
Board approval for buyback expiring December 31, 2026; $24.9M remains available after Q2 repurchases
What the filing says
Midland States Bancorp's board of directors authorized a $45.0 million share repurchase program that expires on December 31, 2026, as disclosed in the company's second-quarter 2026 investor presentation filed on July 28, 2026. As of the end of Q2 2026, the company has $24.9 million remaining available under the authorization after completing $2.7 million in common stock repurchases during the quarter at an average price of $22.08 per share.
The repurchase program supports the company's capital management strategy while maintaining strong regulatory capital ratios. Midland States reported a consolidated Common Equity Tier 1 (CET1) ratio of 10.4% as of June 30, 2026, exceeding its near-term target of 10%, and a total capital ratio of 15.8%. The company has repurchased 478,715 shares during 2026 to date.
The program reflects the bank's balanced approach to capital allocation, combining shareholder returns through buybacks with continued investment in community banking operations, wealth management expansion, and credit quality improvement initiatives. The execution mechanism is not explicitly specified in the filing.
Board authorized $45.0 million share repurchase program expires on December 31, 2026, $24.9 million remaining to be repurchased — Midland States Bancorp, Inc. 8-K filing · View on SEC EDGAR →
What this means
Midland States has deployed roughly 45% of its authorized repurchase capacity through Q2 2026, with $24.9 million available through year-end. At the Q2 average price of $22.08, this remaining authorization could retire approximately 1.1 million shares, or roughly 5.3% of the current outstanding share count of 20.7 million. The timing of the program through December 2026 suggests the company is managing capital returns opportunistically while maintaining regulatory buffers well above minimum requirements. The buyback is incremental to the company's ongoing focus on building tangible common equity ratios toward its 7.0% target.</what_this_means> <parameter name="faqs">[ { "question": "What is the total size of Midland States' share repurchase authorization?", "answer": "The board authorized a $45.0 million share repurchase program that expires on December 31, 2026. As of the end of Q2 2026, $24.9 million of the authorization remained available for repurchase after the company bought back $2.7 million of common stock during the quarter." }, { "question": "How many shares did Midland States repurchase in 2026?", "answer": "The company repurchased 478,715 shares during the first half of 2026 at an average price of $22.08 per share. In Q2 alone, the company completed $2.7 million of repurchases, though the specific share count for that quarter is not separately disclosed in the filing." }, { "question": "Why is Midland States executing buybacks now?", "answer": "The repurchases support the company's capital management strategy while maintaining strong regulatory ratios. Midland States reported a CET1 ratio of 10.4%, exceeding its 10% near-term target, and a total capital ratio of 15.8%, providing capacity for shareholder returns alongside continued investment in growth initiatives." }, { "question": "What execution method does Midland States use for its buybacks?", "answer": "The filing does not specify the execution mechanism for the repurchase program, such as whether the company uses open-market purchases under Rule 10b-18, accelerated share repurchases, or another method." }, { "question": "How does this buyback compare to Midland States' historical repurchase activity?", "answer": "Midland States has been actively repurchasing shares over multiple years, with 2.9 million shares repurchased from 2019–2022, 839,553 in 2023, 228,266 in 2024, and 457,222 in 2025. The 2026 program of $45 million represents a continuation of disciplined capital return while the company works to build tangible common equity and improve its profitability metrics." }, { "question": "When does the current repurchase authorization expire?", "answer": "The $45.0 million share repurchase program expires on December 31, 2026. Any remaining authorization not executed by that date will expire and cease to be available for new repurchases unless the board authorizes an additional program." } ]