Midland States Bancorp, Inc. Terminates Chief Financial Officer Eric Lemke

Key Points for Investors

• Midland States Bancorp, Inc. (Nasdaq: MSBI) has terminated Chief Financial Officer Eric Lemke effective March 5, 2026.
• This termination applies to both the company and its wholly owned subsidiary, Midland States Bank.
• Mr. Lemke is no longer serving as the principal financial officer or principal accounting officer of the company.
• The company has filed a Form 8-K with the SEC to formally disclose this leadership change.
• No information is provided regarding the appointment of a new CFO or interim arrangements at the time of this filing.

Details of the Disclosure

On March 5, 2026, Midland States Bancorp, Inc. (the “Company”) announced the termination of Eric Lemke from his role as Chief Financial Officer. This termination also covers his positions as principal financial officer and principal accounting officer of both the Company and its wholly owned banking subsidiary, Midland States Bank.

The termination was reported under Item 5.02 of Form 8-K, which specifically covers the departure of directors or certain officers, election of directors, appointment of certain officers, and compensatory arrangements of certain officers.

The filing did not provide specific reasons for Mr. Lemke’s termination, nor did it mention the appointment of a replacement or interim CFO. The absence of such information could prompt investor inquiries and speculation about the circumstances leading to the departure and its potential impact on the company’s financial management and reporting.

Shareholder Considerations and Potential Price Sensitivity

• Leadership disruption at the CFO level is a material event. The CFO plays a critical role in financial oversight, regulatory compliance, capital markets communication, and strategic planning. The loss of a CFO can introduce uncertainty into the organization, especially in the absence of a named successor.
• Potential for share price volatility: Investors often react strongly to the sudden departure or termination of a senior executive, particularly in the finance function. The market may interpret the news as signaling possible internal issues, changes in strategic direction, or upcoming financial challenges.
• Regulatory compliance and transparency: The company’s prompt filing of a Form 8-K demonstrates adherence to disclosure requirements, but the lack of detail may raise questions among analysts and shareholders.
• Trading Information: Midland States Bancorp, Inc. common stock trades under the symbol MSBI on the Nasdaq Stock Market. The company’s Depositary Shares (each representing 1/40th interest in a share of 7.750% Fixed Rate Reset Noncumulative Perpetual Preferred Stock, Series A, \$2.00 par value) trade under the symbol MSBIP, also on Nasdaq.
• Emerging Growth Company status: The company is not classified as an emerging growth company under SEC rules, indicating it is subject to the full spectrum of public company reporting requirements.

What’s Next?

Investors should monitor Midland States Bancorp, Inc. for further announcements regarding the appointment of a new CFO or interim financial leadership. The choice of successor and any additional disclosure about the circumstances of Mr. Lemke’s departure will be key for assessing management stability and strategic continuity.

Conclusion

The termination of CFO Eric Lemke is a significant corporate development for Midland States Bancorp, Inc. and its shareholders. Given the importance of the CFO role, this news may lead to short-term volatility in the company’s share price as the market digests the implications and awaits further updates from management.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own due diligence and consult with their financial advisors before making investment decisions. The author and publisher are not responsible for any losses incurred as a result of the information provided above.

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