Emily McCormick, vice president of research for Bank Director
Midland States Bancorp was founded 138 years ago, yet almost all its growth has come in just the past decade. The change in strategy traces back to 2007. That’s when a new management team — CEO Jeffrey Ludwig and his predecessor and current vice chair Leon Holschbach — joined forces to ignite a series of rapid-fire acquisitions. Together, they’ve transformed the Effingham, Illinois-based bank from less than $400 million in assets to more than $6.1 billion today. “It’s definitely been a part of who we are; it’s how we’ve built our company,” says Ludwig. “We needed to build scale, and...
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Emily McCormick is the vice president of research for Bank Director, an information resource for directors and officers of financial companies.You can follow her on Twitter at twitter.com/ehmccormick or get connected on LinkedIn.