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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington , D.C. 20549 FORM 10 - K ( Mark one ) Annual Report Pursuant to Section 13 or 15 ( d ) of the Securities Exchange Act of 1934 For the fiscal year ended December 31 , 2020 Transition Report Pursuant to Section 13 or 15 ( d ) of the Securities Exchange Act of 1934 For the transition period from to Commission File Number 001-35272 Illinois ( State of other jurisdiction of incorporation or organization ) 1201 Network Centre Drive Effingham , IL ( Address of principal executive offices ) Title of each class Common Stock , $ 0.01 par value Large accelerated filer Emerging growth company MIDLAND STATES BANCORP , INC . ( Exact name of registrant as specified in its charter ) or ( 217 ) 342-7321 ( Registrant's telephone number , including area code ) Securities registered pursuant to Section 12 ( b ) of the Act : Trading symbol ( s ) . Accelerated filer > 37-1233196 ( I.R.S. Employer Identification No. ) MSBI Securities registered pursuant to Section 12 ( g ) of the Act : None Indicate by check mark if the registrant is a well - known seasoned issuer , as defined in Rule 405 of the Securities Act . Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15 ( d ) of the Act . Indicate by check mark whether the registrant ( 1 ) has filed all reports required to be filed by Section 13 or 15 ( d ) of the Securities Exchange Act of 1934 during the preceding 12 months ( or for such shorter period that the registrant was required to file such reports ) , and ( 2 ) has been subject to such filing requirements for the past 90 days . Yes No Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S - T ( §232.405 of this chapter ) during the preceding 12 months ( or for such shorter period that the registrant was required to submit such files ) . X Yes No 62401 ( Zip Code ) Name of each exchange on which registered Nasdaq Global Select Market Non - accelerated filer ☐ Indicate by check mark whether the registrant is a large accelerated filer , an accelerated filer , a non - accelerated filer , smaller reporting company , or an emerging growth company . See the definitions of " large accelerated filer , " " accelerated filer , " " smaller reporting company , " and " emerging growth company " in Rule 12b - 2 of the Exchange Act . Yes > No Yes > No Smaller reporting company If an emerging growth company , indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13 ( a ) of the Exchange Act . Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial reporting under Section 404 ( b ) of the Sarbanes - Oxley Act ( 15 U.S.C. 7262 ( b ) ) by the registered public accounting firm that prepared or issued its audit report . X Indicate by check mark whether the registrant is a shell company ( as defined in Rule 12b - 2 of the Act ) . Yes > No The aggregate market value of the Registrant's voting and non - voting common equity held by non - affiliates on June 30 , 2020 was $ 324,060,514 ( based on the closing price on the Nasdaq Global Select Market on that date of $ 14.95 ) . As of February 16 , 2021 , the Registrant had 22,275,886 shares of outstanding common stock , $ 0.01 par value . DOCUMENTS INCORPORATED BY REFERENCE Portions of the Proxy Statement for the Annual Meeting of Shareholders to be held May 3 , 2021 , to be filed within 120 days after December 31 , 2020 , are incorporated by reference into Part III of this Form 10 - K to the extent indicated in such part .