Midland States reports preliminary Q1 EPS 57c, consensus 55c

Reports Q1 net charge-offs 1.35%. Reports Q1 CET1 capital ratio 11.84%. Reports Q1 tangible book value per share $21.43. The company said, “We are working diligently to resolve the delay in our audited financials, although we want to emphasize that we do not expect a material impact to first quarter tangible equity or regulatory capital levels, and that our unaudited preliminary first quarter results already reflect the previously disclosed accounting methodology changes, for a small third party guaranteed loan portfolio.”