EFFINGHAM, Ill., June 20, 2016 (GLOBE NEWSWIRE) -- Midland States Bancorp, Inc. (NASDAQ:MSBI) today announced that it is set to join the broad-market Russell 3000® Index at the conclusion of the Russell US Indexes annual reconstitution, effective after the US market opens on June 27th, according to a preliminary list of additions posted on June 10th by FTSE Russell.
According to information provided by FTSE Russell, annual reconstitution of the Russell US indexes captures the 4,000 largest US stocks as of the end of May, ranking them by total market capitalization. Membership in the US all-cap Russell 3000® Index, which remains in place for one year, also means inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000® Index as well as the appropriate growth and value style indexes. FTSE Russell states that it determines membership for its Russell indexes by objective, market-capitalization rankings and style attributes.
“We are very pleased to be added to the Russell indexes,” said Leon J. Holschbach, President and Chief Executive Officer of Midland States Bancorp. “The Russell indexes are widely followed within the investment community, and we believe that our inclusion, especially coming just weeks after our IPO, will further drive awareness of our Company as an attractive investment as we continue executing on our strategic plan for further growth.”
About Midland States Bancorp, Inc.
Midland States Bancorp, Inc. (NASDAQ:MSBI) is a community-based financial holding company headquartered in Effingham, Illinois, and is the sole shareholder of Midland States Bank. Midland has assets of approximately $2.9 billion, and its Midland Wealth Management Group has assets under administration of approximately $1.2 billion as of March 31, 2016. Midland provides a full range of commercial and consumer banking products and services, merchant credit card services, trust and investment management, and insurance and financial planning services. In addition, commercial equipment leasing services are provided through Heartland Business Credit, and multi-family and healthcare facility FHA financing is provided through Love Funding, Midland’s non-bank subsidiaries. Midland has more than 80 locations across the United States. For additional information, visit www.midlandsb.com or follow Midland on LinkedIn at https://www.linkedin.com/company/midland-states-bank.
About FTSE Russell
FTSE Russell is wholly owned by London Stock Exchange Group. For more information, visit www.ftserussell.com. For more information on the Russell 3000® Index and the Russell US Indexes reconstitution, go to the “Russell Reconstitution” section of the FTSE Russell website.
Forward-Looking Statements
This press release includes “forward-looking statements,” including with respect to the Company’s possible inclusion in the Russell Indexes. Forward-looking statements are subject to many risks and uncertainties, including, but not limited to: changes in business plans as circumstances warrant; changes in general economic, business and political conditions, including changes in the financial markets; and other risks detailed in the “Cautionary Note Regarding Forward-Looking Statements,” “Risk Factors” and other sections of the registration statement. Potential investors should note that the forward-looking statements included in this press release are not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “will,” “propose,” “may,” “plan,” “seek,” “expect,” “intend,” “estimate,” “anticipate,” “believe” or “continue,” or similar terminology. Any forward-looking statements presented herein are made only as of the date of this press release, and Midland does not undertake any obligation to update or revise any forward-looking statements to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise, except as required by federal securities laws.