Revenue during the quarter grew 18.92 percent to $42.26 million from $35.53 million in the previous year period. Net interest income for the quarter rose 14.23 percent over the prior year period to $27.46 million. Non-interest income for the quarter rose 29.42 percent over the last year period to $16.33 million.

Midland States Bancorp, Inc has made provision of $1.53 million for loan losses during the quarter, up 36.27 percent from $1.12 million in the same period last year.

Net interest margin improved 7 basis points to 3.87 percent in the quarter from 3.80 percent in the last year period. Efficiency ratio for the quarter improved to 66.26 percent from 67.72 percent in the previous year period. A decline in efficiency ratio indicates a rise in profitability.

“We had strong performances across all of our major business lines in the first quarter, resulting in 24% earnings per share growth over the prior year,” said Leon J. Holschbach, President and Chief Executive Officer of the Company. “We are seeing positive trends in all of our key metrics including well diversified loan growth, an expanding net interest margin, higher non-interest income and strong credit quality. We are also executing well on our Operational Excellence initiative, which is delivering the cost savings and efficiency improvements that we are targeting. Collectively, these positive trends helped us to more than offset the loss of the interest income previously generated from the portfolio of private label CMOs that we sold during the fourth quarter of 2016.

Deposits stood at $2,527.48 million as on Mar. 31, 2017, up 5.76 percent compared with $2,389.71 million on Mar. 31, 2016.

Noninterest-bearing deposit liabilities were $528.02 million or 20.89 percent of total deposits on Mar. 31, 2017, compared with $546.66 million or 22.88 percent of total deposits on Mar. 31, 2016.

Investments stood at $335.61 million as on Mar. 31, 2017, up 4.83 percent or $15.45 million from year-ago. Shareholders equity was at $334.33 million as on Mar. 31, 2017.

Return on average assets moved up 35 basis points to 1.05 percent in the quarter from 0.70 percent in the last year period. At the same time, return on average equity increased 188 basis points to 10.58 percent in the quarter from 8.70 percent in the last year period.

Nonperforming assets moved up 42 percent or $9.37 million to $31.68 million on Mar. 31, 2017 from $22.31 million on Mar. 31, 2016. Meanwhile, nonperforming assets to total assets was 0.94 percent in the quarter, up from 0.77 percent in the last year period.

Tier-1 leverage ratio stood at 9.61 percent for the quarter, up from 7.25 percent for the previous year quarter. Book value per share was $21.19 for the quarter, up 4.95 percent or $1 compared to $20.19 for the same period last year.