Midland States Bancorp Announces Sale of Substantially All of Its Equipment Finance Portfolio to North Mill Equipment Finance

Key Takeaways:

• Midland States Bank sold nearly its entire equipment finance portfolio
• An affiliate of North Mill Equipment Finance LLC acquired the business assets
• The transaction officially closed on November 28, 2025
• The announcement was made on December 1, 2025
• Midland States Bancorp is listed on Nasdaq as MSBI

Sale Announcement

Midland States Bancorp, Inc. (Nasdaq: MSBI) recently disclosed that its wholly owned subsidiary, Midland States Bank, has sold substantially all of its equipment finance portfolio. The official announcement was made on December 1, 2025, from the company’s headquarters in Effingham, Illinois, providing details on the scope and timing of the divestment.

Transaction Details

The portfolio has been transferred to an affiliate of North Mill Equipment Finance LLC (NMEF). According to Midland States Bancorp’s statement, “The transaction closed on November 28, 2025.” By finalizing the sale, the bank shifts its focus away from a significant portion of its equipment financing segment.

Strategic Impact

This move represents a strategic decision for Midland States Bancorp. Through the sale, the company appears to be reshaping its operational priorities. Although the full scope of the strategic plan was not disclosed, the sale indicates a realignment of resources within the bank’s commercial operations.

Corporate Context

Midland States Bancorp, Inc. is traded on the Nasdaq under the symbol MSBI. Its subsidiary, Midland States Bank, had maintained a notable equipment finance portfolio before the transaction. With the transfer of nearly all such assets to NMEF, Midland States Bank is now positioned to concentrate on other areas of its banking services, as indicated by the announcement.