On August 25, 2022, Midland States Bancorp, Inc. notified holders that the company will redeem on October 15, 2022 (Redemption Date) all of the Company's outstanding Fixed-to-Floating Rate Subordinated Notes due October 15, 2027, having an aggregate principal amount of $40,000,000 (Subordinated Notes), in accordance with the terms of the Subordinated Notes. The aggregate redemption price will be 100% of the aggregate principal amount of the Subordinated Notes, plus accrued and unpaid interest to, but excluding, the Redemption Date. The interest rate on the Subordinated Notes is currently 6.25%, equating to approximately $2.5 million of interest payable, annually.
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- Midland States Bancorp, Inc. to Redeem All of its Outstanding Fixed-to-Floating Rate Subordinated Notes Due October 15, 2027 on October 15, 2022