Patriot Financial Partners Acquires Stake in Midland States Bancorp

By Chris Stiles • Wednesday, February 04 12:12 • Permanent Link

Midland States Bancorp, Inc. (Nasdaq: MSBI) has announced that Patriot Financial Partners, L.P. (“Patriot”) has acquired a position in the company’s common stock through open-market purchases. Additionally, James F. Deutsch has been added to the Board of Directors, effective February 3, 2026, and has also been appointed to the Board of Midland States Bank, the company’s wholly-owned bank subsidiary.

Mr. Deutsch, a partner of Patriot, brings a wealth of experience in the banking industry, having previously served as President, Chief Executive Officer, and Founder of Team Capital Bank, a Pennsylvania-based community bank. The Chairman of the Company and Midland States Bank, Jeffrey C. Smith, expressed his pleasure in welcoming Mr. Deutsch to the board and in announcing Patriot’s investment in the company.

Midland States Bancorp, Inc.'s President and Chief Executive Officer, Jeffrey G. Ludwig, highlighted the importance of partnering with sophisticated investors who share the company's values and drive for shareholder return, expressing excitement to work with Patriot as they expand their franchise. Mr. Ludwig also noted that an investment from an institutional investor like Patriot affirms their strong belief in the company’s direction and mission.

Mr. Deutsch expressed his pleasure and honor in joining the other directors on the board of Midland, acknowledging the management's success in building a unique franchise and expressing eagerness to contribute to the company's future growth strategies.

As of December 31, 2025, Midland States Bancorp, Inc. had total assets of approximately $6.51 billion, and its Wealth Management Group had assets under administration of approximately $4.48 billion. The company provides a full range of commercial and consumer banking products and services, merchant credit card services, trust and investment management, insurance, and financial planning services.

For additional information, visit midlandsb.com or follow Midland States Bank on LinkedIn. The market has reacted to these announcements by moving the company's shares -0.27% to a price of $22.50. If you want to know more, read the company's complete 8-K report here.

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