MSBI · Midland States Bancorp, Inc.

$32.27 +1.30 (+4.20%) At close · Jul 24

Market Cap

$668.54M

20.73M

Named-executive compensation from the company's DEF 14A proxy statements — salary, bonus, stock and option awards, non-equity incentive, and the company-reported total per executive per fiscal year, exactly as disclosed in the Summary Compensation Table.

Fiscal 2025

Executive	Role	Salary	Bonus	Stock Awards	Option Awards	Incentive	Other	Total
Jeffrey Ludwig	CEO	$749,800	—	$562,322	—	$194,956	$25,163	$1,532,241
Jeffrey S. Mefford	Executive Vice President and President of the Bank	$525,000	—	$341,258	—	$126,000	$23,577	$1,015,835
Eric T. Lemke	CFO	$437,400	—	$218,721	—	$69,987	$16,097	$742,205

Fiscal 2024

Executive	Role	Salary	Bonus	Stock Awards	Option Awards	Incentive	Other	Total
Jeffrey Ludwig	CEO	$749,800	—	$562,276	—	$130,233	$23,934	$1,466,243
Jeffrey S. Mefford	Executive Vice President and President of the Bank	$525,000	—	$341,112	—	$82,223	$22,252	$970,587
Eric T. Lemke	CFO	$437,400	—	$218,647	—	$46,299	$15,795	$718,141
Douglas J. Tucker	Senior Vice President and Corporate Counsel	$400,000	—	$199,914	—	$42,950	$10,500	$653,364

Fiscal 2023

Executive	Role	Salary	Bonus	Stock Awards	Option Awards	Incentive	Other	Total
Jeffrey Ludwig	CEO	$721,000	—	$540,782	—	$348,731	$23,272	$1,633,785
Jeffrey S. Mefford	Executive Vice President and President of the Bank	$463,500	—	$401,248	—	$206,939	$21,540	$1,093,227
Eric T. Lemke	CFO	$405,020	—	$202,475	—	$119,889	$14,815	$742,199
Douglas J. Tucker	Senior Vice President and Corporate Counsel	$391,400	—	$195,764	—	$116,499	$9,900	$713,563

Fiscal 2022

Executive	Role	Salary	Bonus	Stock Awards	Option Awards	Incentive	Other	Total
Jeffrey Ludwig	CEO	$700,000	—	$262,494	$257,050	$535,816	$22,373	$1,777,733
Jeffrey S. Mefford	Executive Vice President and President of the Bank	$450,000	—	$146,244	$143,211	$318,147	$20,687	$1,078,289
Eric T. Lemke	CFO	$385,000	—	$96,264	$94,250	$183,319	$13,582	$772,415
Douglas J. Tucker	Senior Vice President and Corporate Counsel	$380,000	—	$95,013	$93,026	$181,430	$9,150	$758,619
James R. Stewart	Senior Vice President and Chief Risk Officer of the Bank	$346,000	—	$86,512	$84,704	$165,299	$9,150	$691,665

Fiscal 2021

Executive	Role	Salary	Bonus	Stock Awards	Option Awards	Incentive	Other	Total
Jeffrey Ludwig	CEO	$572,000	—	$372,512	—	$615,143	$21,519	$1,581,174
Jeffrey S. Mefford	Executive Vice President and President of the Bank	$400,000	—	$220,438	—	$397,080	$19,430	$1,036,948
Douglas J. Tucker	Senior Vice President and Corporate Counsel	$354,320	—	$159,762	—	$234,489	$8,700	$757,271
Eric T. Lemke	CFO	$350,000	—	$140,274	—	$223,613	$21,635	$735,522
James R. Stewart	Senior Vice President and Chief Risk Officer of the Bank	$324,450	—	$146,290	—	$214,721	$8,700	$694,161

Fiscal 2020

Executive	Role	Salary	Bonus	Stock Awards	Option Awards	Incentive	Other	Total
Jeffrey Ludwig	CEO	$572,000	—	$194,419	—	$241,670	$19,239	$1,027,328
Jeffrey S. Mefford	Executive Vice President and President of the Bank	$400,000	—	$115,040	—	$154,200	$19,843	$689,083
Douglas J. Tucker	Senior Vice President and Corporate Counsel	$354,320	—	$83,371	—	$92,123	$8,550	$538,634
James R. Stewart	Senior Vice President and Chief Risk Officer of the Bank	$324,450	—	$76,352	—	$84,357	$8,550	$493,709
Eric T. Lemke	CFO	$305,000	—	$63,797	—	$79,300	$19,050	$467,147

Fiscal 2019

Executive	Role	Salary	Bonus	Stock Awards	Option Awards	Incentive	Other	Total
Jeffrey Ludwig	CEO	$572,000	—	$372,536	—	$392,621	$16,903	$1,354,060
Jeffrey S. Mefford	Executive Vice President and President of the Bank	$400,000	—	$220,442	—	$253,440	$16,652	$890,534
Douglas J. Tucker	Senior Vice President and Corporate Counsel	$351,542	—	$159,766	—	$149,665	$8,400	$668,198
James R. Stewart	Senior Vice President and Chief Risk Officer of the Bank	$321,905	—	$146,285	—	$137,048	$8,400	$612,563
Donald J. Spring	CFO	$218,373	—	$150,069	—	$69,181	$8,400	$446,023
Eric T. Lemke	CFO	$179,684	—	$122,242	—	$37,949	$6,741	$346,616
Stephen A. Erickson	CFO	$222,688	—	—	—	—	$8,400	$231,088

Fiscal 2018

Executive	Role	Salary	Bonus	Stock Awards	Option Awards	Incentive	Other	Total
Jeffrey Ludwig	CEO	$472,000	$50,000	$306,796	—	$181,248	$18,200	$1,028,244
Jeffrey S. Mefford	Executive Vice President and President of the Bank	$344,000	$25,000	$189,203	—	$110,080	$18,088	$686,371
Corporate Counsel	—	$344,000	$25,000	$154,802	—	$88,064	$8,250	$620,116
Douglas J. Tucker	Senior Vice President and Corporate Counsel	$344,000	$25,000	$154,802	—	$88,064	$8,250	$620,116
James R. Stewart	Senior Vice President and Chief Risk Officer of the Bank	$315,000	$15,000	$141,748	—	$80,640	$8,250	$560,638
Stephen A. Erickson	CFO	$302,115	$25,000	$130,005	—	$77,342	$11,245	$545,707

Fiscal 2017

Executive	Role	Salary	Bonus	Stock Awards	Option Awards	Incentive	Other	Total
Jeffrey Ludwig	CEO	$405,288	—	$216,092	—	$182,380	$17,982	$821,742
Jeffrey S. Mefford	Executive Vice President and President of the Bank	$314,343	$25,000	$152,350	—	$125,738	$15,486	$632,917
Corporate Counsel	—	$318,094	$25,000	$138,767	—	$111,333	$8,100	$601,294
James R. Stewart	Senior Vice President and Chief Risk Officer of the Bank	$266,716	$15,000	$116,355	—	$93,350	$8,100	$499,521

Executive changes

Person	Role	Change	Effective	Filed
Claire A. Stack	Executive Vice President and Chief Financial Officer	Appointed	2026-05-08	2026-05-11

Key facts CIK 1466026 CUSIP 597742105 13F (30d) 26 filings 26 filers Visit website