Midland States Bancorp, Inc. reported unaudited consolidated earnings results for the fourth quarter ended December 31, 2016. For the quarter, the company reported net interest income of $25,959,000, income before income taxes of $19,907,000, net income of $11,580,000, net income attributable to the company of $11,583,000, adjusted earnings of $6,300,000, compared to net interest income of $26,452,000, income before income taxes of $10,507,000, net income of $7,696,000, net income attributable to the company of $7,696,000, adjusted earnings of $7,525,000, for the same period a year ago. Adjusted diluted earnings per common share were $0.39 against $0.61 a year ago. Adjusted return on average assets was 0.78% against 1.04% a year ago. Adjusted return on average shareholders' equity was 7.64% against 12.90% a year ago. Adjusted return on average tangible common shareholders' equity was 9.16% against 16.88% a year ago. Diluted earnings per common share were $0.72 against $0.63 a year ago.

Net charge-offs for the fourth quarter of 2016 were $3.1 million, or 0.54% of average loans on an annualized basis.

For the full year 2017, the company expects its effective tax rate to return to a level approximate to the effective tax rate in the third quarter of 2016.