• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Dashboard
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlerts
    Company
    AboutQuantisnow PlusContactJobs
    Legal
    Terms of usePrivacy policyCookie policy

    SEC Form SC 13G/A filed by Midland States Bancorp Inc. (Amendment)

    2/8/24 4:56:11 PM ET
    $MSBI
    Major Banks
    Finance
    Get the next $MSBI alert in real time by email
    SC 13G/A 1 eps11128_msbi.htm
     

     

    UNITED STATES

    SECURITIES AND EXCHANGE COMMISSION

    Washington, D.C. 20549

     

    SCHEDULE 13G

    Under the Securities Exchange Act of 1934

    (Amendment No. 5) *

     

    Midland States Bancorp Inc. Illinois (MSBI)
    (Name of Issuer)
     
    Common Stock
    (Title of Class of Securities)
     
    597742105
    (CUSIP Number)
     
    12/31/2023
    (Date of Event Which Requires Filing of this Statement)

     

    Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

     

      ☐ Rule 13d-1(b)
         
      ☑ Rule 13d-1(c)
         
      ☐ Rule 13d-1(d)

     

    * The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

     

    The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

     

     
     
     

     

    CUSIP No. 597742105   Page 2 of 17

     

     

    1

     

    NAME OF REPORTING PERSONS
    I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
    (ENTITIES ONLY) 

    FJ Capital Management LLC

     

     

    2

     

    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

     

    (a) ☑

    (b) ☐

     

    3

     

    SEC USE ONLY

     

     

     

    4

     

    CITIZENSHIP OR PLACE OF ORGANIZATION

     

    Delaware
    NUMBER OF
    SHARES
    5 SOLE VOTING POWER  
    BENEFICIALLY
    OWNED BY
    6 SHARED VOTING POWER 1,269,108 (1)
    EACH
    REPORTING
    7 SOLE DISPOSITIVE POWER  
    PERSON
    WITH:
    8 SHARED DISPOSITIVE POWER 953,472 (2)

     

    9

     

    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     

    1,269,108 (1)

     

    10

     

    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES

     

    ☐

     

    11

     

    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

     

    5.89%

     

    12

     

    TYPE OF REPORTING PERSON

     

    IA
             

     

    (1)Consists of 901,346 shares of common stock of the Issuer held by Financial Opportunity Fund LLC, 1,477 shares of common stock of the Issuer held by Financial Opportunity Long/Short Fund LLC, of which FJ Capital Management LLC is the managing member, 275,828 shares of common stock of the Issuer held by Bridge Equities III, LLC and 39,808 shares of common stock of the Issuer held by Bridge Equities XI LLC, of which FJ Capital Management LLC is the sub-investment advisor, and 50,649 shares of common stock of the Issuer held by managed accounts that FJ Capital Management manages; as such, the Reporting Person may be deemed to be a beneficial owner of reported shares but as to which the Reporting Person disclaims beneficial ownership.

     

    (2)Consists of 901,346 shares of common stock of the Issuer held by Financial Opportunity Fund LLC, 1,477 shares of common stock of the Issuer held by Financial Opportunity Long/Short Fund LLC, of which FJ Capital Management LLC is the managing member, and 50,649 shares of common stock of the Issuer held by managed accounts that FJ Capital Management manages; as such, the Reporting Person may be deemed to be a beneficial owner of reported shares but as to which the Reporting Person disclaims beneficial ownership.

     

     

     

    CUSIP No. 597742105   Page 3 of 17

     

     

    1

     

    NAME OF REPORTING PERSONS
    I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
    (ENTITIES ONLY) 

    Financial Opportunity Fund LLC

     

     

    2

     

    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

     

    (a) ☑

    (b) ☐

     

    3

     

    SEC USE ONLY

     

     

     

    4

     

    CITIZENSHIP OR PLACE OF ORGANIZATION

     

    Delaware
    NUMBER OF
    SHARES
    5 SOLE VOTING POWER  
    BENEFICIALLY
    OWNED BY
    6 SHARED VOTING POWER 901,346 (1)
    EACH
    REPORTING
    7 SOLE DISPOSITIVE POWER  
    PERSON
    WITH:
    8 SHARED DISPOSITIVE POWER 901,346 (1)

     

    9

     

    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     

    901,346 (1)

     

    10

     

    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES

     

    ☐

     

    11

     

    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

     

    4.18%

     

    12

     

    TYPE OF REPORTING PERSON

     

    OO
             

     

    (1)Consists of 901,346 shares of common stock of the Issuer held by Financial Opportunity Fund, LLC.

     

     

     

    CUSIP No. 597742105   Page 4 of 17

     

     

    1

     

    NAME OF REPORTING PERSONS
    I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
    (ENTITIES ONLY) 

    Financial Opportunity Long/Short Fund LLC

     

     

    2

     

    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

     

    (a) ☑

    (b) ☐

     

    3

     

    SEC USE ONLY

     

     

     

    4

     

    CITIZENSHIP OR PLACE OF ORGANIZATION

     

    Delaware
    NUMBER OF
    SHARES
    5 SOLE VOTING POWER  
    BENEFICIALLY
    OWNED BY
    6 SHARED VOTING POWER 1,477 (1)
    EACH
    REPORTING
    7 SOLE DISPOSITIVE POWER  
    PERSON
    WITH:
    8 SHARED DISPOSITIVE POWER 1,477 (1)

     

    9

     

    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     

    1,477 (1)

     

    10

     

    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES

     

    ☐

     

    11

     

    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

     

    0.01%

     

    12

     

    TYPE OF REPORTING PERSON

     

    OO
             

     

    (1)Consists of 1,477 shares of common stock of the Issuer held by Financial Opportunity Long/Short Fund, LLC.

     

     

     

    CUSIP No. 597742105   Page 5 of 17

     

     

    1

     

    NAME OF REPORTING PERSONS
    I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
    (ENTITIES ONLY) 

    Martin Friedman

     

     

    2

     

    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

     

    (a) ☑

    (b) ☐

     

    3

     

    SEC USE ONLY

     

     

     

    4

     

    CITIZENSHIP OR PLACE OF ORGANIZATION

     

    United States
    NUMBER OF
    SHARES
    5 SOLE VOTING POWER  
    BENEFICIALLY
    OWNED BY
    6 SHARED VOTING POWER 1,269,108 (1)
    EACH
    REPORTING
    7 SOLE DISPOSITIVE POWER  
    PERSON
    WITH:
    8 SHARED DISPOSITIVE POWER 953,472 (2)

     

    9

     

    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     

    1,269,108 (1)

     

    10

     

    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES

     

    ☐

     

    11

     

    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

     

    5.89%

     

    12

     

    TYPE OF REPORTING PERSON

     

    IN
             

     

    (1)Consists of 901,346 shares of common stock of the Issuer held by Financial Opportunity Fund LLC, 1,477 shares of common stock of the Issuer held by Financial Opportunity Long/Short Fund LLC, of which FJ Capital Management LLC is the managing member, 275,828 shares of common stock of the Issuer held by Bridge Equities III, LLC and 39,808 shares of common stock of the Issuer held by Bridge Equities XI LLC, of which FJ Capital Management LLC is the sub-investment advisor, and 50,649 shares of common stock of the Issuer held by managed accounts that FJ Capital Management manages. Martin Friedman is the Managing Member of FJ Capital Management LLC; as such, Mr. Friedman may be deemed to be a beneficial owner of reported shares but as to which Mr. Friedman disclaims beneficial ownership.
    (2)Consists of 901,346 shares of common stock of the Issuer held by Financial Opportunity Fund LLC, 1,477 shares of common stock of the Issuer held by Financial Opportunity Long/Short Fund LLC, of which FJ Capital Management LLC is the managing member, and 50,649 shares of common stock of the Issuer held by managed accounts that FJ Capital Management manages. Martin Friedman is the Managing Member of FJ Capital Management LLC; as such, Mr. Friedman may be deemed to be a beneficial owner of reported shares but as to which Mr. Friedman disclaims beneficial ownership.

     

     

     

    CUSIP No. 597742105   Page 6 of 17

     

     

    1

     

    NAME OF REPORTING PERSONS
    I.R.S. IDENTIFICATION NO. OF ABOVE  PERSONS
    (ENTITIES ONLY) 

    Bridge Equities III, LLC

     

     

    2

     

    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

     

    (a) ☑

    (b) ☐

     

    3

     

    SEC USE ONLY

     

     

     

    4

     

    CITIZENSHIP OR PLACE OF ORGANIZATION

     

    Delaware
    NUMBER OF
    SHARES
    5 SOLE VOTING POWER  
    BENEFICIALLY
    OWNED BY
    6 SHARED VOTING POWER 275,828 (1)
    EACH
    REPORTING
    7 SOLE DISPOSITIVE POWER  
    PERSON
    WITH:
    8 SHARED DISPOSITIVE POWER 275,828 (1)

     

    9

     

    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     

    275,828 (1)

     

    10

     

    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES

     

    ☐

     

    11

     

    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

     

    1.28%

     

    12

     

    TYPE OF REPORTING PERSON

     

    OO
             

     

    (1)Consists of 275,828 shares of common stock of the Issuer held by Bridge Equities III, LLC.

     

     

     

     

    CUSIP No. 597742105   Page 7 of 17

     

     

    1

     

    NAME OF REPORTING PERSONS
    I.R.S. IDENTIFICATION NO. OF ABOVE  PERSONS
    (ENTITIES ONLY) 

    Bridge Equities XI, LLC

     

     

    2

     

    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

     

    (a) ☑

    (b) ☐

     

    3

     

    SEC USE ONLY

     

     

     

    4

     

    CITIZENSHIP OR PLACE OF ORGANIZATION

     

    Delaware
    NUMBER OF
    SHARES
    5 SOLE VOTING POWER  
    BENEFICIALLY
    OWNED BY
    6 SHARED VOTING POWER 39,808 (1)
    EACH
    REPORTING
    7 SOLE DISPOSITIVE POWER  
    PERSON
    WITH:
    8 SHARED DISPOSITIVE POWER 39,808 (1)

     

    9

     

    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     

    39,808 (1)

     

    10

     

    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES

     

    ☐

     

    11

     

    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

     

    0.18%

     

    12

     

    TYPE OF REPORTING PERSON

     

    OO
             

     

    (1) Consists of 39,808 shares of common stock of the Issuer held by Bridge Equities XI, LLC.

     

     

     

     

    CUSIP No. 597742105   Page 8 of 17

     

     

    1

     

    NAME OF REPORTING PERSONS
    I.R.S. IDENTIFICATION NO. OF ABOVE  PERSONS
    (ENTITIES ONLY) 

    SunBridge Manager, LLC

     

     

    2

     

    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

     

    (a) ☑

    (b) ☐

     

    3

     

    SEC USE ONLY

     

     

     

    4

     

    CITIZENSHIP OR PLACE OF ORGANIZATION

     

    Delaware
    NUMBER OF
    SHARES
    5 SOLE VOTING POWER  
    BENEFICIALLY
    OWNED BY
    6 SHARED VOTING POWER 315,636 (1)
    EACH
    REPORTING
    7 SOLE DISPOSITIVE POWER  
    PERSON
    WITH:
    8 SHARED DISPOSITIVE POWER 315,636 (1)

     

    9

     

    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     

    315,636 (1)

     

    10

     

    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES

     

    ☐

     

    11

     

    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

     

    1.47%

     

    12

     

    TYPE OF REPORTING PERSON

     

    OO
             

     

    (1)Consists of 275,828 shares of common stock of the Issuer held by Bridge Equities III, LLC and 39,808 shares of common stock of the Issuer held by Bridge Equities XI LLC, of which SunBridge Manager, LLC is the Managing Member; as such, the Reporting Person may be deemed to be a beneficial owner of reported shares.

     

     

     

    CUSIP No. 597742105   Page 9 of 17

     

     

    1

     

    NAME OF REPORTING PERSONS
    I.R.S. IDENTIFICATION NO. OF ABOVE  PERSONS
    (ENTITIES ONLY) 

    SunBridge Holdings, LLC

     

     

    2

     

    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

     

    (a) ☑

    (b) ☐

     

    3

     

    SEC USE ONLY

     

     

     

    4

     

    CITIZENSHIP OR PLACE OF ORGANIZATION

     

    Delaware
    NUMBER OF
    SHARES
    5 SOLE VOTING POWER  
    BENEFICIALLY
    OWNED BY
    6 SHARED VOTING POWER 315,636 (1)
    EACH
    REPORTING
    7 SOLE DISPOSITIVE POWER  
    PERSON
    WITH:
    8 SHARED DISPOSITIVE POWER 315,636 (1)

     

    9

     

    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     

    315,636 (1)

     

    10

     

    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES

     

    ☐

     

    11

     

    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

     

    1.47%

     

    12

     

    TYPE OF REPORTING PERSON

     

    OO
             

     

    (1)Consists of 275,828 shares of common stock of the Issuer held by Bridge Equities III, LLC and 39,808 shares of common stock of the Issuer held by Bridge Equities XI LLC, of which SunBridge Manager, LLC is the Managing Member. SunBridge Holdings, LLC is the Managing Member of SunBridge Manager, LLC; as such, the Reporting Person may be deemed to be a beneficial owner of reported shares but as to which the Reporting Person disclaims beneficial ownership.

     

     

     

    CUSIP No. 597742105   Page 10 of 17

     

     

    1

     

    NAME OF REPORTING PERSONS
    I.R.S. IDENTIFICATION NO. OF ABOVE  PERSONS
    (ENTITIES ONLY) 

    White Oak Enterprises, Inc.

     

     

    2

     

    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

     

    (a) ☑

    (b) ☐

     

    3

     

    SEC USE ONLY

     

     

     

    4

     

    CITIZENSHIP OR PLACE OF ORGANIZATION

     

    Maryland
    NUMBER OF
    SHARES
    5 SOLE VOTING POWER  
    BENEFICIALLY
    OWNED BY
    6 SHARED VOTING POWER 315,636 (1)
    EACH
    REPORTING
    7 SOLE DISPOSITIVE POWER  
    PERSON
    WITH:
    8 SHARED DISPOSITIVE POWER 315,636 (1)

     

    9

     

    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     

    315,636 (1)

     

    10

     

    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES

     

    ☐

     

    11

     

    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

     

    1.47%

     

    12

     

    TYPE OF REPORTING PERSON

     

    CO
             

     

    (1)Consists of 275,828 shares of common stock of the Issuer held by Bridge Equities III, LLC and 39,808 shares of common stock of the Issuer held by Bridge Equities XI LLC, of which SunBridge Manager, LLC is the Managing Member. SunBridge Holdings, LLC is the Managing Member of SunBridge Manager, LLC. Whtie Oak Enterprises, Inc. is the Manager of SunBridge Holdings, LLC; as such, the Reporting Person may be deemed to be a beneficial owner of reported shares but as to which the Reporting Person disclaims beneficial ownership.

     

     

     

     

    CUSIP No. 597742105   Page 11 of 17

     

    Item 1(a).   Name of Issuer:
         
        Midland States Bancorp ILL (MSBI)
         
    Item 1(b).   Address of Issuer’s Principal Executive Offices:
         
        1201 Network Centre Drive
        Effingham, IL  62401
         
    Item 2(a).   Name of Person Filing:
         
       

    This Schedule 13G is being filed on behalf of the following Reporting Persons:

    FJ Capital Management LLC

    Financial Opportunity Fund LLC

    Financial Opportunity Long/Short Fund LLC

    Martin Friedman

    Bridge Equities III, LLC

    Bridge Equities XI, LLC

    SunBridge Manager, LLC

    SunBridge Holdings, LLC

    White Oak Enterprises, Inc.

         
    Item 2(b).   Address of Principal Business Office or, if None, Residence:
         
       

    FJ Capital Management, LLC

    7901 Jones Branch Drive, Suite 210

    McLean, VA 22102

     

    Financial Opportunity Fund LLC

    7901 Jones Branch Drive, Suite 210

    McLean, VA 22102

     

    Financial Opportunity Long/Short Fund LLC

    7901 Jones Branch Drive, Suite 210

    McLean, VA 22102

     

    Martin Friedman

    7901 Jones Branch Drive, Suite 210

    McLean, VA 22102

     

    Bridge Equities III, LLC

    8171 Maple Lawn Blvd, Suite 375

    Fulton, MD 20759

     

    Bridge Equities XI, LLC

    8171 Maple Lawn Blvd, Suite 375

    Fulton, MD 20759

     

    SunBridge Manager, LLC

    8171 Maple Lawn Blvd, Suite 375

    Fulton, MD 20759

     

     

     
     

     

    CUSIP No. 597742105   Page 12 of 17

     

       

    SunBridge Holdings, LLC

    8171 Maple Lawn Blvd, Suite 375

    Fulton, MD 20759

     

    White Oak Enterprises, Inc.
    8171 Maple Lawn Blvd, Suite 375
    Fulton, MD 20759

     

    Item 2(c).   Citizenship:
         
        Financial Opportunity Fund LLC, Financial Opportunity Long/Short Fund LLC, Bridge Equities III, LLC, Bridge Equities XI, LLC, and FJ Capital Management LLC, SunBridge Manager, LLC, SunBridge Holdings, LLC – Delaware limited liability companies
    Martin Friedman – United States citizen
    White Oak Enterprises, Inc. – Maryland corporation
         
    Item 2(d).   Title of Class of Securities:
         
        Common Stock
         
    Item 2(e).   CUSIP Number:
         
        597742105
         
    Item 3. If This Statement is Filed Pursuant to §§240.13d-1(b), or 240.13d-2(b) or (c), Check Whether the Person Filing is a:

     

      (a) ☐ Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o).
           
      (b) ☐ Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c).
           
      (c) ☐ Insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c).
           
      (d) ☐ Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).
           
      (e) ☐ An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E);

     

      (f) ☐ An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F);
           
      (g) ☐ A parent holding company or control person in accordance with §240.13d-1(b)(ii)(G);
           
      (h) ☐ A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
           
      (i) ☐ A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act (15 U.S.C. 80a-3);
           
      (j) ☐ Group, in accordance with §240.13d-1(b)(1)(ii)(J).

     

     

     

     

    CUSIP No. 597742105   Page 13 of 17

     

    Item 4. Ownership.
       
      Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.

     

      (a) Amount beneficially owned:
         
       

    FJ Capital Management LLC – 1,269,108 shares

    Financial Opportunity Fund LLC – 901,346 shares

    Financial Opportunity Long/Short Fund LLC – 1,477 shares

    Martin Friedman – 1,269,108 shares

    Bridge Equities III, LLC – 275,828 shares

    Bridge Equities XI, LLC – 39,808 shares

    SunBridge Manager, LLC – 315,636 shares

    SunBridge Holdings, LLC - 315,636 shares

    White Oak Enterprises, Inc. – 315,636 shares

         
      (b) Percent of class:
         
       

    FJ Capital Management LLC – 5.89%

    Financial Opportunity Fund LLC – 4.18%

    Financial Opportunity Long/Short Fund LLC – 0.01%

    Martin Friedman – 5.89%

    Bridge Equities III, LLC – 1.28%

    Bridge Equities XI, LLC – 0.18%

    SunBridge Manager, LLC – 1.47%

    SunBridge Holdings, LLC – 1.47%

    White Oak Enterprises, Inc. – 1.47%

         
      (c) Number of shares as to which such person has:
         
        (i) Sole power to vote or to direct the vote
           
          All Reporting Persons - 0
           
        (ii) Shared power to vote or to direct the vote
           
         

    FJ Capital Management LLC – 1,269,108 shares

    Financial Opportunity Fund LLC – 901,346 shares

    Financial Opportunity Long/Short Fund LLC – 1,477 shares

    Martin Friedman – 1,269,108 shares

    Bridge Equities III, LLC – 275,828 shares

    Bridge Equities XI, LLC – 39,808 shares

    SunBridge Manager, LLC – 315,636 shares

    SunBridge Holdings, LLC - 315,636 shares

    White Oak Enterprises, Inc. – 315,636 shares

     

     

     

     

    CUSIP No. 597742105   Page 14 of 17

     

        (iii) Sole power to dispose or to direct the disposition of
           
          All Reporting Persons – 0
           
        (iv) Shared power to dispose or to direct the disposition of
           
         

    FJ Capital Management LLC – 953,472 shares

    Financial Opportunity Fund LLC – 901,346 shares

    Financial Opportunity Long/Short Fund LLC – 1,477 shares

    Martin Friedman – 953,472 shares

    Bridge Equities III, LLC – 275,828 shares

    Bridge Equities XI, LLC – 39,808 shares

    SunBridge Manager, LLC – 315,636 shares

    SunBridge Holdings, LLC - 315,636 shares

    White Oak Enterprises, Inc. – 315,636 shares

     

    Item 5. Ownership of Five Percent or Less of a Class.
      If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following ☐
       
    Item 6. Ownership of More than Five Percent on Behalf of Another Person.
       
      N/A.
       
    Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
       
      N/A
       
       
    Item 8. Identification and Classification of Members of the Group.
       
      Due to the relationships among them, the reporting persons hereunder may be deemed to constitute a “group” with one another for purposes of Section 13(d)(3) of the Securities Exchange Act of 1934.  
       
    Item 9. Notice of Dissolution of Group.
       
      N/A

     

    Item 10. Certification.
       
      By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having such purpose or effect.

     

     

     

     

    CUSIP No. 597742105   Page 15 of 17

     

    After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

     

         
    Date:  1/31/2024  

    Financial Opportunity Fund LLC

    By: FJ Capital Management LLC, its Managing Member

     

     

    By:     /s/ Martin Friedman           

    Name: Martin Friedman

    Title: Managing Member

     

     

    Financial Opportunity Long/Short Fund LLC

    By: FJ Capital Management LLC, its Managing Member

     

     

    By:     /s/ Martin Friedman           

    Name: Martin Friedman

    Title: Managing Member

     

     

    FJ Capital Management LLC

     

     

    By:     /s/ Martin Friedman           

    Name: Martin Friedman

    Title: Managing Member

     

     

     

     

     

     

    /s/ Martin Friedman           

    MARTIN FRIEDMAN

     

     

         

     

     

     

     

    CUSIP No. 597742105   Page 16 of 17
       

     

     

    Bridge Equities III, LLC

    By: SunBridge Manager, LLC, its Managing Member

     

     

    By:     /s/ David J. Korotkin           

    Name: David J. Korotkin

    Title: Vice President

     

     

    Bridge Equities XI, LLC

    By: SunBridge Manager, LLC, its Managing Member

     

     

    By:     /s/ David J. Korotkin           

    Name: David J. Korotkin

    Title: Vice President

     

     

    SunBridge Manager, LLC

    By: SunBridge Holdings, LLC, its Managing Member

     

     

    By:     /s/ David J. Korotkin           

    Name: David J. Korotkin

    Title: Vice President

     

     

    SunBridge Holdings, LLC

    By: White Oak Enterprises, Inc., its Manager

     

     

    By:     /s/ David J. Korotkin           

    Name: David J. Korotkin

    Title: Vice President

     

     

    White oak enterprises, inc.

     

     

    By:     /s/ David J. Korotkin           

    Name: David J. Korotkin

    Title: Vice President

     

     

     

     

     

     

    CUSIP No. 597742105   Page 17 of 17

    Joint Filing Agreement

    The undersigned agree that this Schedule 13G, and all amendments thereto, relating to the Common Stock Midland States Bancorp Inc. Illinois (MSBI) shall be filed on behalf of the undersigned.

    FINANCIAL OPPORTUNITY FUND LLC

    By: FJ Capital Management, LLC

     

     

    By:     /s/ Martin Friedman           

    Name: Martin Friedman

    Title: Managing Member

     

     

    FINANCIAL OPPORTUNITY LONG/SHORT
    FUND LLC

    By: FJ Capital Management, LLC

     

     

    By:     /s/ Martin Friedman           

    Name: Martin Friedman

    Title: Managing Member

     

     

    FJ CAPITAL MANAGEMENT LLC

     

     

    By:     /s/ Martin Friedman           

    Name: Martin Friedman

    Title: Managing Member

     

     

     

     

     

    /s/ Martin Friedman           

    MARTIN FRIEDMAN

     

     

     

    BRIDGE EQUITIES XI, LLC

    By: SunBridge Manager, LLC, its Managing Member

     

     

    By:     /s/ David J. Korotkin           

    Name: David J. Korotkin

    Title: Vice President

     

     

    BRIDGE EQUITIES III, LLC

    By: SunBridge Manager, LLC, its Managing Member

     

     

    By:     /s/ David J. Korotkin           

    Name: David J. Korotkin

    Title: Vice President

     

     

    SUNBRIDGE MANAGER, LLC

    By: SunBridge Holdings, LLC, its Managing Member

     

     

    By:     /s/ David J. Korotkin           

    Name: David J. Korotkin

    Title: Vice President

     

     

    SUNBRIDGE HOLDINGS, LLC

    By: White Oak Enterprises, Inc., its Manager

     

     

    By:     /s/ David J. Korotkin           

    Name: David J. Korotkin

    Title: Vice President

     

     

    WHITE OAK ENTERPRISES, INC.

     

     

    By:     /s/ David J. Korotkin           

    Name: David J. Korotkin

    Title: Vice President

     

     

     

    Get the next $MSBI alert in real time by email

    Chat with this insight

    Save time and jump to the most important pieces.

    Recent Analyst Ratings for
    $MSBI

    DatePrice TargetRatingAnalyst
    9/1/2022Mkt Perform
    Raymond James
    10/13/2021$30.00 → $28.00Overweight → Equal-Weight
    Stephens & Co.
    More analyst ratings

    $MSBI
    Insider Purchases

    Insider purchases reveal critical bullish sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • Director Carlson Gerald Joseph bought $39,940 worth of shares (2,000 units at $19.97), increasing direct ownership by 100% to 4,000 units (SEC Form 4)

      4 - Midland States Bancorp, Inc. (0001466026) (Issuer)

      2/7/25 1:32:10 PM ET
      $MSBI
      Major Banks
      Finance
    • Director Carlson Gerald Joseph bought $20,000 worth of shares (1,000 units at $20.00), increasing direct ownership by 100% to 2,000 units (SEC Form 4)

      4 - Midland States Bancorp, Inc. (0001466026) (Issuer)

      1/30/25 10:42:31 AM ET
      $MSBI
      Major Banks
      Finance
    • Director Smith Jeffrey C. bought $12,324 worth of shares (650 units at $18.96), increasing direct ownership by 2% to 33,609 units (SEC Form 4)

      4 - Midland States Bancorp, Inc. (0001466026) (Issuer)

      1/28/25 3:24:45 PM ET
      $MSBI
      Major Banks
      Finance

    $MSBI
    Press Releases

    Fastest customizable press release news feed in the world

    See more
    • Midland States Bancorp, Inc. Announces Common Stock and Preferred Stock Dividends

      EFFINGHAM, Ill., May 06, 2025 (GLOBE NEWSWIRE) -- Midland States Bancorp, Inc. (NASDAQ:MSBI) announced today that its Board of Directors declared a quarterly cash dividend of $0.31 per share of its common stock. The dividend is payable on May 23, 2025 to all shareholders of record as of the close of business on May 16, 2025. The Board of Directors also declared a cash dividend of $0.4844 per depository share on its 7.75% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A. The dividend will be payable on June 30, 2025 to stockholders of record as of June 16, 2025. About Midland States Bancorp, Inc. Midland States Bancorp, Inc. is a community-based financial holding compa

      5/6/25 5:27:33 PM ET
      $MSBI
      Major Banks
      Finance
    • Midland States Bancorp, Inc. Announces Preliminary 2025 First Quarter Results

      EFFINGHAM, Ill., April 30, 2025 (GLOBE NEWSWIRE) -- Midland States Bancorp, Inc. (NASDAQ:MSBI) (the "Company") reported preliminary results for the first quarter of 2025. As previously disclosed, the Company is completing its evaluation, subject to review by its independent registered public accounting firm, of the accounting and financial reporting of third-party lending and servicing arrangements, including the collection and analysis of third-party documentation, not material to tangible equity. This process is ongoing and must be completed for the Company to file its Annual Report on Form 10-K for the year ended December 31, 2024 (the "2024 Annual Report"), which is expected to include

      4/30/25 4:30:00 PM ET
      $MSBI
      Major Banks
      Finance
    • Midland States Bancorp, Inc. receives expected notification of deficiency from Nasdaq related to delayed filing of Annual Report on Form 10-K

      EFFINGHAM, Ill., April 09, 2025 (GLOBE NEWSWIRE) -- Midland States Bancorp, Inc. (NASDAQ:MSBI) (the "Company") today announced that it received an expected deficiency notification letter from the Listing Qualifications Staff of The Nasdaq Stock Market LLC ("Nasdaq") on April 3, 2025 (the "Notice"). The Notice indicated that the Company was not in compliance with Nasdaq Listing Rule 5250(c)(1) (the "Listing Rule") as a result of its failure to timely file its Annual Report on Form 10-K for the year ended December 31, 2024 (the "Form 10-K"), as described more fully in the Company's Form 12b-25 Notification of Late Filing (the "Form 12b-25") filed with the Securities and Exchange Commission (

      4/9/25 4:15:00 PM ET
      $MSBI
      Major Banks
      Finance

    $MSBI
    Insider Trading

    Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • SEC Form 4 filed by Director Bingham Richard Dean

      4 - Midland States Bancorp, Inc. (0001466026) (Issuer)

      4/1/25 4:42:02 PM ET
      $MSBI
      Major Banks
      Finance
    • SEC Form 4 filed by Director Dimotta Jennifer

      4 - Midland States Bancorp, Inc. (0001466026) (Issuer)

      4/1/25 4:41:00 PM ET
      $MSBI
      Major Banks
      Finance
    • SEC Form 4 filed by Director Smith Jeffrey C.

      4 - Midland States Bancorp, Inc. (0001466026) (Issuer)

      4/1/25 1:36:47 PM ET
      $MSBI
      Major Banks
      Finance

    $MSBI
    Financials

    Live finance-specific insights

    See more
    • Midland States Bancorp, Inc. Announces Common Stock and Preferred Stock Dividends

      EFFINGHAM, Ill., May 06, 2025 (GLOBE NEWSWIRE) -- Midland States Bancorp, Inc. (NASDAQ:MSBI) announced today that its Board of Directors declared a quarterly cash dividend of $0.31 per share of its common stock. The dividend is payable on May 23, 2025 to all shareholders of record as of the close of business on May 16, 2025. The Board of Directors also declared a cash dividend of $0.4844 per depository share on its 7.75% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A. The dividend will be payable on June 30, 2025 to stockholders of record as of June 16, 2025. About Midland States Bancorp, Inc. Midland States Bancorp, Inc. is a community-based financial holding compa

      5/6/25 5:27:33 PM ET
      $MSBI
      Major Banks
      Finance
    • Midland States Bancorp, Inc. Announces Preliminary 2025 First Quarter Results

      EFFINGHAM, Ill., April 30, 2025 (GLOBE NEWSWIRE) -- Midland States Bancorp, Inc. (NASDAQ:MSBI) (the "Company") reported preliminary results for the first quarter of 2025. As previously disclosed, the Company is completing its evaluation, subject to review by its independent registered public accounting firm, of the accounting and financial reporting of third-party lending and servicing arrangements, including the collection and analysis of third-party documentation, not material to tangible equity. This process is ongoing and must be completed for the Company to file its Annual Report on Form 10-K for the year ended December 31, 2024 (the "2024 Annual Report"), which is expected to include

      4/30/25 4:30:00 PM ET
      $MSBI
      Major Banks
      Finance
    • Midland States Bancorp, Inc. Announces Common Stock and Preferred Stock Dividends

      EFFINGHAM, Ill., Feb. 04, 2025 (GLOBE NEWSWIRE) -- Midland States Bancorp, Inc. (NASDAQ:MSBI) announced today that its Board of Directors declared a quarterly cash dividend of $0.31 per share of its common stock. The dividend is payable on February 21, 2025 to all shareholders of record as of the close of business on February 14, 2025. The Board of Directors also declared a cash dividend of $0.4844 per depository share on its 7.75% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A. The dividend will be payable on March 31, 2025 to stockholders of record as of March 17, 2025. About Midland States Bancorp, Inc. Midland States Bancorp, Inc. is a community-based financial

      2/4/25 4:19:54 PM ET
      $MSBI
      Major Banks
      Finance

    $MSBI
    Leadership Updates

    Live Leadership Updates

    See more
    • Transend Partners with Midland States Bank to Launch the First B2B Private-Label Working Capital Solution

      ATLANTA, July 15, 2024 /PRNewswire/ -- Transend, the first B2B private-label working capital solution that is redefining how suppliers do business with their commercial customers, today announced its strategic partnership with Midland States Bank, a subsidiary of Midland States Bancorp, Inc. (NASDAQ:MSBI). Through this partnership, Transend and Midland will take an innovative approach to traditional financing, offering dynamic payment solutions that empower suppliers to offer instant access to working capital at the point of commerce. "To partner with such a forward-thinking c

      7/15/24 10:00:00 AM ET
      $MSBI
      Major Banks
      Finance
    • Midland States Bancorp, Inc. Appoints Travis Franklin to Board of Directors

      EFFINGHAM, Ill., May 07, 2024 (GLOBE NEWSWIRE) -- Midland States Bancorp, Inc. (NASDAQ:MSBI) announced today that its Board of Directors has appointed Travis Franklin to its Board, effective May 7, 2024. Mr. Franklin has been appointed to the Board of Midland States Bank, the Company's wholly-owned Illinois bank subsidiary. Mr. Franklin currently serves as Executive Vice President and Chief Financial Officer of Heartland Dental, LLC, a leading dental support organization that provides operational support to dental practices nationwide.  Prior to joining Heartland Dental he served as Chief Investment Officer for a family office.  Mr. Franklin holds a B.S. in Business Management and an M.B.

      5/7/24 4:20:00 PM ET
      $MSBI
      Major Banks
      Finance
    • Midland States Bancorp Appoints Gerald Carlson to Board of Directors

      EFFINGHAM, Ill., Feb. 06, 2024 (GLOBE NEWSWIRE) -- Midland States Bancorp, Inc. (NASDAQ:MSBI) (the "Company" or "Midland") announced today that Gerald Carlson has been appointed to the Board of Directors of the Company and Midland States Bank. With the addition of Mr. Carlson, the Company's Board of Directors now has 11 directors, with 10 of the directors classified as independent. "We are very pleased to add Jerry to our Board of Directors," said Jeffrey C. Smith, Chairman of the Board of the Company. "Jerry is a highly accomplished executive who brings a wealth of experience to the Board, and he spent a good part of his career in St. Louis. We believe the St. Louis market represen

      2/6/24 4:30:00 PM ET
      $MSBI
      Major Banks
      Finance

    $MSBI
    SEC Filings

    See more
    • Midland States Bancorp Inc. filed SEC Form 8-K: Other Events, Financial Statements and Exhibits

      8-K - Midland States Bancorp, Inc. (0001466026) (Filer)

      5/6/25 5:25:30 PM ET
      $MSBI
      Major Banks
      Finance
    • Midland States Bancorp Inc. filed SEC Form 8-K: Results of Operations and Financial Condition, Financial Statements and Exhibits

      8-K - Midland States Bancorp, Inc. (0001466026) (Filer)

      4/30/25 4:33:54 PM ET
      $MSBI
      Major Banks
      Finance
    • Midland States Bancorp Inc. filed SEC Form 8-K: Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review, Regulation FD Disclosure

      8-K - Midland States Bancorp, Inc. (0001466026) (Filer)

      4/25/25 5:14:16 PM ET
      $MSBI
      Major Banks
      Finance

    $MSBI
    Large Ownership Changes

    This live feed shows all institutional transactions in real time.

    See more
    • SEC Form SC 13G filed by Midland States Bancorp Inc.

      SC 13G - Midland States Bancorp, Inc. (0001466026) (Subject)

      2/13/24 5:09:38 PM ET
      $MSBI
      Major Banks
      Finance
    • SEC Form SC 13G/A filed by Midland States Bancorp Inc. (Amendment)

      SC 13G/A - Midland States Bancorp, Inc. (0001466026) (Subject)

      2/9/24 9:59:16 AM ET
      $MSBI
      Major Banks
      Finance
    • SEC Form SC 13G/A filed by Midland States Bancorp Inc. (Amendment)

      SC 13G/A - Midland States Bancorp, Inc. (0001466026) (Subject)

      2/8/24 4:56:11 PM ET
      $MSBI
      Major Banks
      Finance

    $MSBI
    Analyst Ratings

    Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

    See more
    • Raymond James initiated coverage on Midland States Bancorp

      Raymond James initiated coverage of Midland States Bancorp with a rating of Mkt Perform

      9/1/22 7:32:24 AM ET
      $MSBI
      Major Banks
      Finance
    • Midland States Bancorp downgraded by Stephens & Co. with a new price target

      Stephens & Co. downgraded Midland States Bancorp from Overweight to Equal-Weight and set a new price target of $28.00 from $30.00 previously

      10/13/21 7:02:10 AM ET
      $MSBI
      Major Banks
      Finance
    • Midland States Bancorp upgraded by Stephens

      Stephens upgraded Midland States Bancorp from Equal Weight to Overweight

      2/10/21 7:38:07 AM ET
      $MSBI
      Major Banks
      Finance