Midland States Bancorp: Pay

Midland States Bancorp paid its 5 named executives $5.3M in total in FY2025 (Dec). CEO Jeffrey G. Ludwig was paid $1.5M of that.

Pay$100 in the stock at the end of FY20 → $129
CEO pay is from each proxy. The stock line is the value of $100 put in the stock at the start, from the price change of each fiscal year. Dividends are not in it.

Pay of each named executive

Jeffrey G. LudwigPresident and Chief Executive Officer of the Company and Chief Executive Officer of the Bank
FY2025 (Dec)
FY2024 (Dec)
FY2023 (Dec)
FY2022 (Dec)Not disclosed
FY2021 (Dec)Not disclosed
5 years
Jeremy A. JamesonExecutive Vice President and Chief Credit Officer of the Bank
FY2025 (Dec)
1 year
Jeffrey S. MeffordExecutive Vice President of the Company and President of the Bank
FY2025 (Dec)
FY2024 (Dec)
FY2022 (Dec)Not disclosed
FY2021 (Dec)Not disclosed
4 years
Eric T. LemkeSenior Vice President and Chief Financial Officer of the Company and the Bank
FY2025 (Dec)
FY2024 (Dec)
FY2023 (Dec)
FY2022 (Dec)Not disclosed
FY2021 (Dec)Not disclosed
5 years
Daniel E. CaseyExecutive Vice President and Chief Risk Officer of the Bank
FY2025 (Dec)
FY2024 (Dec)
FY2023 (Dec)
3 years

CEO pay against the pay peers

In FY2025 (Dec), the median CEO pay of the 9 peers with pay on file was $2.4M. The CEO of Midland States Bancorp was paid $1.5M, 36% below the median.

  1. 1First Busey Corp /NV/
  2. 2FB Financial
  3. 3Enterprise Financial Services
  4. 4Tompkins Financial
  5. 5First Merchants
  6. 6German American Bancorp
  7. 7City Holding
  8. 8QCR Holdings
  9. 9Midland States Bancorp
  10. 10Peoples Bancorp
  11. 11Community Trust Bancorp, Inc.Not disclosed
  12. 12First BancorpNot disclosed
  13. 13First Commonwealth Financial CorpNot disclosed
  14. 14Horizon Bancorp, Inc.Not disclosed
  15. 15Independent BankNot disclosed
  16. 16Lakeland FinancialNot disclosed
  17. 17Northwest BancsharesNot disclosed
  18. 18Origin Bancorp, Inc.Not disclosed
  19. 19Park National CorporationNot disclosed
  20. 20S&T Bancorp, Inc.Not disclosed
  21. 21Sandy Spring Bancorp, Inc.Not disclosed

Pay of each named executive comes from the Summary Compensation Table of each proxy statement. Realized pay adds the value of options used and stock that vested. CEO pay of each peer comes from its own Pay versus Performance table.