Agriculture

Midland States names Jeffrey Smith new bank chairman

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Midland States Bancorp Inc., the parent to Midland States Bank, recently announced Jack Schultz, who has been chairman of the company and the bank since 2006, has retired from the bank’s board of directors. Schultz remains chairman of the company. Jeffrey C. Smith, who has been a director at the bank and the company since 2005, was unanimously elected as chairman of the bank.

Smith said, “I’m honored to have been selected as the next chairman of Midland States Bank, but I am also in awe of its performance with Jack as chairman. ... Since Jack became chairman, the bank has grown to $4.5 billion in assets, built a full-service wealth management/trust group with almost $2 billion in AUM, and had net income of $31.5 million in 2016.”

We continue to see opportunities to grow shareholder value and believe we have the platform in place to continue on our strategic path.”

Midland has locations in the Illinois Valley.