Midland States Bancorp Inc.
05/10/2021 | Press release | Archived content
Material Event (Form 8-K)
| Other Events. |
On May 10, 2021, Midland States Bancorp, Inc. (the 'Company') notified holders that the Company will redeem on June 18, 2021 (the 'Redemption Date') all of the Company's outstanding Fixed-to-Floating Rate Subordinated Notes due June 18, 2025, having an aggregate principal amount of $31,075,000 (the 'Subordinated Notes') in accordance with the terms of the Subordinated Notes. The aggregate redemption price will be 100% of the aggregate principal amount of the Subordinated Notes, plus accrued and unpaid interest to, but excluding, the Redemption Date. The interest rate on the Subordinated Notes is currently 4.54%, equating to approximately $1.4 million of interest payable, annually.