Midland States Bancorp Inc. has announced promotions within the executive management team of the company and its wholly-owned subsidiary Midland States Bank, which operates several locations in Metro East.
Jeffrey G. Ludwig has been promoted to president of the company and chief executive officer of the bank. Prior to these promotions Ludwig served as executive vice president and chief financial officer of the company and president and chief financial officer of the bank. Ludwig has also been elected to the board of directors of the bank.
Jeffrey S. Mefford has been promoted to president of the bank from his prior position as executive vice president.
Stephen A. Erickson has been promoted to chief financial officer of the company and the bank from his prior position as director of mergers & acquisitions for the bank.
Leon J. Holschbach, chief executive officer of Midland States Bancorp, said, “The promotions announced today reflect the continued implementation of our management succession plan. Jeff Ludwig and Jeff Mefford have been instrumental in building Midland into one of the largest community banks in Illinois, and with their increased responsibilities, we are well positioned to continue executing on our strategic plan in the years ahead and creating additional value for our shareholders. We are also fortunate to have an individual with Steve’s background in accounting, investment banking and the overall financial services industry to step into the CFO role. In the six years that Steve has been with Midland, he has been an integral member of our finance team and has demonstrated exceptional leadership and organizational skills while serving as our Director of Mergers & Acquisitions.”
Ludwig joined the company in November 2006 as chief financial officer, was promoted to executive vice president of the company in October 2010, and was named president of the bank in March 2016. He serves on the company’s Executive Committee and Capital Management and Mergers and Acquisitions Committee and chairs its Asset/Liability Committee.
Mefford has been with the bank since 2003 and served as the bank’s executive vice president, banking, since March 2016 with responsibility for retail, commercial, mortgage and treasury sales, marketing, community development and CRA. Prior to his promotion to executive vice president in March of 2016 he was senior vice president, community banking.
Steve Erickson joined Midland in 2012 in connection with Midland’s acquisition of EnablePay Direct, Inc., of which he was co-founder and president. Mr. Erickson has served as Midland’s Director of Mergers and Acquisitions since 2015, and as President of Midland’s Merchant Services division from 2012-2015.
About Midland States Bancorp, Inc.
Midland States Bancorp, Inc. is a community-based financial holding company headquartered in Effingham, Illinois, and is the sole shareholder of Midland States Bank. As of March 1, 2018, the Company had total assets of approximately $5.7 billion and its Wealth Management Group had assets under administration of approximately $3.2 billion. Midland provides a full range of commercial and consumer banking products and services, business equipment financing, merchant credit card services, trust and investment management, and insurance and financial planning services. In addition, multi-family and healthcare facility FHA financing is provided through Love Funding, Midland’s non-bank subsidiary. For additional information, visit www.midlandsb.com or follow Midland on LinkedIn at https://www.linkedin.com/company/midland-states-bank.