FHLB ADVANCES AND OTHER BORROWINGS (Tables)

6 Months Ended

Jun. 30, 2017

FHLB ADVANCES AND OTHER BORROWINGS

Schedule of Federal Home Loan Bank (FHLB) advances

The following table summarizes our Federal Home Loan Bank (“FHLB”) advances and other borrowings as of June 30, 2017 and December 31, 2016 (in thousands):

	June 30,		December 31,
	2017		2016
Midland States Bancorp, Inc.
Term loan - variable interest rate equal to LIBOR plus 2.25%, which was 3.31% at June 30, 2017 – maturing through May 25, 2020	$	39,965	$	—
Series G redeemable preferred stock - 181 shares at $1,000 per share		181		—
Midland States Bank
FHLB advances – fixed rate, fixed term of $100.0 million and $112.5 million, at rates averaging 1.27% and 1.00% at June 30, 2017 and December 31, 2016, respectively – maturing through June 2018, and putable fixed rate of $170.0 million and $125.0 million at rates averaging 0.95% and 0.79% at June 30, 2017 and December 31, 2016, respectively, – maturing through August 2023 with call provisions through June 2019		270,000		237,500
Other		8		18
Centrue Bank
FHLB advances – fixed rate, fixed term, at rates averaging 1.33% at June 30, 2017 – maturing through June 2021		51,150		—
FHLB advances – variable rate, fixed term, at rates averaging 0.80% at June 30, 2017 – maturing through March 2018		39,000		—
Total FHLB advances and other borrowings	$	400,304	$	237,518