Home / Restatements / Midland States Bancorp, Inc.
Filed 2025-04-25 路 Form 8-K 路 Accession 0001104659-25-039515 small
Price before filing: $15.34 (2025-04-24 close, split/dividend-adjusted)
Market cap at flag: $362.4M (2025-04-25) 路 Latest: $679.0M (2026-10-16)
| Window | MSBI | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | +2.5% | +8.1% | -5.6% | 2025-05-27 |
| 90 days | +9.0% | +16.4% | -7.4% | 2025-07-24 |
| 180 days | +1.6% | +22.9% | -21.3% | 2025-10-22 |
Return from the last close before the filing date to the first close on/after the window end. Pending windows have not fully elapsed. Past performance says nothing certain about the future.
90 days before the flag: 3 insiders bought $91K (4 purchases)
30 days after: none reported.
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 2025-01-28 | Smith Jeffrey C. Director | Purchase | 650 | $18.96 | $12K | no | Form 4 |
| 2025-01-28 | Spring Donald J. Chief Accounting Officer | Purchase | 800 | $23.75 | $19K | no | Form 4 |
| 2025-01-30 | Carlson Gerald Joseph Director | Purchase | 1,000 | $20.00 | $20K | no | Form 4 |
| 2025-02-07 | Carlson Gerald Joseph Director | Purchase | 2,000 | $19.97 | $40K | no | Form 4 |
| 2025-04-25: red flag filed | |||||||
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-01-25 to 2025-05-25. Excludes option exercises, grants, gifts and tax withholding. Amended filings replace the originals; joint filings count once. Foreign private issuers do not file Form 4. Many insider sales are pre-scheduled (10b5-1 plans) and are not by themselves a sign of wrongdoing.
"On April 24, 2025, the Audit Committee (the " Audit Committee ") of the Board of Directors of Midland States Bancorp, Inc. (the " Company "), after discussion with management and the Company's independent registered public accounting firm, Crowe LLP, concluded that the Company's audited consolidated financial statements as of December 31, 2023 and 2022 and for each year in the three year period ended December 31,..."
Quoted from the filing. Source
The company says previously issued financial statements (or the auditor's report on them) should no longer be relied upon (8-K Item 4.02). Non-reliance on the financial statements themselves is one of the most serious accounting red flags: past reported numbers were wrong and will be restated.
Scope: previously issued financial statements
Why this score: also within 90 days: Late quarterly report (NT 10-Q)
Read the original filing on SEC.gov →
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Not investment advice. Automated summary; verify against the filing.
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