Midland States Bancorp, Inc. (MSBI) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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MSBI Revenue Growth
Revenue Breakdown (FY 2025)
MSBI's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
MSBI Revenue Analysis (2014–2025)
As of May 8, 2026, Midland States Bancorp, Inc. (MSBI) generated trailing twelve-month (TTM) revenue of $456.0 million, reflecting significant decline in growth of -41.2% year-over-year. The most recent quarter (Q4 2025) recorded $107.3 million in revenue, down 7.1% sequentially.
Looking at the longer-term picture, MSBI's 5-year compound annual growth rate (CAGR) stands at +8.2%, indicating steady revenue expansion. The company achieved its highest annual revenue of $546.1 million in 2024.
Revenue diversification analysis shows MSBI's business is primarily driven by Asset Management (44%), Interchange Revenues (22%), and Nonsufficient Fund Fees (14%).
When compared to Financial Services sector peers including MBWM, FULT, and IBCP. Compare MSBI vs MBWM →
MSBI Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| MSBICurrent | $456M | -41.2% | +8.2% | -22.1% | |
 MBWM | $372M | - | - | 27.5% | |
 FULT | $1.9B | - | - | 25.7% | |
 IBCP | $315M | - | - | 25.8% | |
 NBTB | $867M | - | - | 25.3% | |
 BANF | $909M | - | - | 30.3% |
MSBI Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $467.6M | - | $268.3M | 57.4% | $-103,243,000 | -22.1% |
| 2024 | $546.1M | - | $235.9M | 43.2% | $46.9M | 8.6% |
| 2023 | $508.5M | - | $257.7M | 50.7% | $88.0M | 17.3% |
| 2022 | $436.5M | - | $303.7M | 69.6% | $131.4M | 30.1% |
| 2021 | $313.2M | - | $279.7M | 89.3% | $99.1M | 31.6% |
| 2020 | $316.0M | - | $225.9M | 71.5% | $32.0M | 10.1% |
| 2019 | $326.9M | - | $250.3M | 76.5% | $72.5M | 22.2% |
| 2018 | $294.7M | - | $242.0M | 82.1% | $50.8M | 17.2% |
| 2017 | $210.5M | - | $177.5M | 84.3% | $26.5M | 12.6% |
| 2016 | $191.3M | - | $169.8M | 88.7% | $50.4M | 26.4% |
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Start ComparisonMSBI — Frequently Asked Questions
Quick answers to the most common questions about buying MSBI stock.
Is MSBI's revenue growth accelerating or slowing?
MSBI revenue declined -41.2% year-over-year, contrasting with the 5-year CAGR of +8.2%. TTM revenue fell to $456M. This reverses the prior growth trend.
What is MSBI's long-term revenue growth rate?
Midland States Bancorp, Inc.'s 5-year revenue CAGR of +8.2% reflects the variable expansion pattern. Current YoY growth of -41.2% is below this long-term average.
How is MSBI's revenue distributed by segment?
MSBI reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.