Investor Presentaiton
Adjusted Earnings Reconciliation
MIDLAND STATES BANCORP, INC.
RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES (unaudited)
For The Year Ended
(dollars in thousands, except per share data)
2017
2018
2019
Income before income taxes - GAAP
Adjustments to noninterest income:
$ 26,471
$ 50,805
$
72,471
$
2020
32,014
2021
2022
2023
$ 99,112
$ 129,838
$
107,573
(Gain) on sales of investment securities, net
(222)
(464)
(674)
(1,721)
(Gain) on termination of hedged interest rate swaps
(537)
(2,159)
230
(17,531)
9,372
(Gain) on sale of Visa B shares
(1,098)
(Gain) on repurchase of subordinated debt
(676)
Other income
67
(89)
29
17
Total adjustments to noninterest income
(155)
(553)
(645)
(1,704)
(48)
(2,744)
(17,301)
7.598
Adjustments to noninterest expense:
Impairment related to facilities optimization
(1,952)
(3,577)
(12,847)
(Loss) gain on mortgage servicing rights held for sale
(4,059)
(458)
490
(1,692)
(222)
(3,250)
FHLB advances prepayment fees
(4,872)
(8,536)
Loss on repurchase of subordinated debt
(1,778)
(193)
Integration and acquisition expenses
(17,738)
(24,015)
(5,493)
(2,309)
(4,356)
(347)
Total adjustments to noninterest expense
(23,749)
(24,473)
(10,358)
(21,913)
(13,114)
(3,597)
Adjusted earnings pre tax - non-GAAP
Adjusted earnings tax
50,065
74,725
82,184
52,223
109,482
116,134
115,171
15,170
17,962
19,358
12,040
26,261
27,113
29,682
Adjusted earnings - non-GAAP
34,895
56,763
62,826
40,183
83,221
89,021
85,489
Preferred stock dividends, net
83
141
46
3,169
8.913
Adjusted earnings available to common shareholders
$
34,812
$
56,622
$
62,780
$
40,183
$
83,221
$
85,852
$
76,576
Adjusted diluted earnings per common share
$
1.89
S
2.39
$
2.54
Adjusted return on average tangible common equity
11.32 %
15.00 %
14.44%
1.70
9.24 %
3.65
$
3.79
$
3.42
18.33 %
18.59 %
15.98 %
46
46
Midland ◉
States Bancorp, Inc.View entire presentation