Midland States Bancorp, Inc. announced unaudited consolidated earnings results for the fourth quarter ended December 31, 2017. For the quarter, the company reported net interest income of $36,036,000 compared to $25,959,000 a year ago. Income before income taxes was $7,766,000 compared to $19,910,000 a year ago. Net income was $1,991,000 or $0.1 per basic and diluted share compared to $11,583,000 or $0.72 per diluted share a year ago. Return on average assets was 0.18% compared to 1.44% a year ago. Return on average shareholders' equity was 1.74% compared to 14.05% a year ago. Return on average tangible common shareholders' equity was 2.33% compared to 16.84% a year ago. Adjusted earnings were $8,403,000 or $0.42 per diluted share compared to $6,302,000 or $0.39 per diluted share a year ago. Adjusted return on average assets was 0.76% compared to 0.78% a year ago. Adjusted return on average shareholders' equity was 7.34% compared to 7.64% a year ago. Adjusted return on average tangible common shareholders' equity was 9.83% compared to 9.16% a year ago. Adjusted earnings pre-tax were $10,855,000 compared to $9,173,000 a year ago. Adjusted earnings tax were $6,992,000 compared to $2,871,000 a year ago. Adjusted net interest income was $36,695,000 compared to $26,579,000 a year ago. Adjusted total revenue was $51,148,000 compared to $39,719,000 a year ago.

For the fourth quarter ended December 31, 2017, the company's net charge-offs of $6,506,000 compared to $3,142,000 a year ago.

For 2018, the company expects its effective tax rate to be approximately 23%.