Midland States Bancorp, Inc. Announces the Resignation of Laurence A. Schiffer as Director
February 28, 2018 at 04:54 pm EST
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On February 28, 2018, Laurence A. Schiffer resigned from Midland States Bancorp, Inc.'s board of directors. Mr. Schiffer resigned because, as a result of the issuance of shares of Midland common stock in the Merger, the shares held by certain family members of Andrew S. Love, Jr. (the Love Family) now represent less than 4.0% of the total voting power of Midland common stock, resulting in the termination of the Love Family's right to designate a director for appointment to Midland's board of directors pursuant to the Agreement and Plan of Merger, dated as of April 7, 2014, among Midland, HB Acquisition LLC and Love Savings Holding Company.
Midland States Bancorp, Inc. is a diversified financial holding company. Its segments include Banking, Wealth Management, and Other. The Banking segment provides a range of financial products and services to consumers and businesses, including commercial, commercial real estate, mortgage and other consumer loan products; commercial equipment financing; mortgage loan sales and servicing; letters of credit; various types of deposit products, including checking, savings and time deposit accounts; merchant services; and corporate treasury management services. The Wealth Management segment operates under the name Midland Wealth Management, which consists of trust and wealth management products and services, including financial and estate planning, trustee and custodial services, investment management, tax and insurance planning, business planning, corporate retirement plan consulting and administration and retail brokerage services through a nationally recognized third-party broker dealer.
MIDLAND STATES BANCORP, INC. 
