Magazine : Archives : 1st Quarter 2020

Winning the M&A Game

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...