Jeffrey Ludwig is President and Chief Executive Officer of Midland States Bancorp, Inc. (MSBI). The company reported total compensation of $1,532,241 for fiscal year 2025.
| Salary | $749,800 |
|---|---|
| Bonus | $0 |
| Stock awards | $562,322 |
| Option awards | $0 |
| Non-equity incentive plan | $194,956 |
| Pension and non-qualified deferred compensation | $0 |
| All other compensation | $25,163 |
| Total | $1,532,241 |
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed, without adjustment.
Cited to the compensation disclosure Midland States Bancorp, Inc. filed March 23, 2026, accession 0001104659-26-033298.
| Fiscal year | Role | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|---|
| FY2025 | President and Chief Executive Officer | $749,800 | $0 | $562,322 | $0 | $194,956 | $0 | $25,163 | $1,532,241 |
| FY2024 | President and Chief Executive Officer of the Company and Chief Executive Officer of the Bank | $749,800 | — | $562,276 | — | $130,233 | — | $23,934 | $1,466,243 |
| FY2023 | President and Chief Executive Officer of the Company and Chief Executive Officer of the Bank | $721,000 | — | $540,782 | — | $348,731 | — | $23,272 | $1,633,785 |
| FY2021 | President and Chief Executive Officer | $572,000 | $0 | $372,512 | $0 | $615,143 | $0 | $21,519 | $1,581,174 |
| FY2020 | President and Chief Executive Officer | $572,000 | — | $194,419 | — | $241,670 | — | $19,239 | $1,027,328 |
Totals as disclosed in each year's own compensation disclosure for Midland States Bancorp, Inc..
| Peer-group chief executive median | $2,244,377 |
|---|---|
| Difference from that median | $-712,135 |
| Percentile within the disclosed peer group | 5th |
| Peers with a disclosed figure | 19 |
Medians and percentiles are computed across the peer group Midland States Bancorp, Inc. discloses in its own compensation disclosure.
| Named executive officer | Role | FY2025 total |
|---|---|---|
| Jeffrey Ludwig this page | President and Chief Executive Officer | $1,532,241 |
| Jeremy Jameson | Executive Vice President and Chief Credit Officer | $1,427,826 |
| Jeffrey Mefford | Executive Vice President and President of the Bank | $1,015,835 |
| Eric Lemke | Senior Vice President and Chief Financial Officer | $742,205 |
| Daniel Casey | Executive Vice President and Chief Risk Officer | $564,269 |
The company's named executive officers for fiscal year 2025, and what it reported for each. See the full Midland States Bancorp, Inc. compensation brief.
Jeffrey Ludwig's compensation sits inside Midland States Bancorp, Inc.'s full executive and board picture — the peer group, pay against peers, incentive design and the board itself.