Midland States Bank’s president to retire
Midland ceased equipment finance originations Sept. 30
Midland States Bancorp announced that Jeffrey Mefford will retire as president of its subsidiary, Midland States Bank, and as executive vice president of the company, effective June 30, 2026.
The announcement comes on the heels of Midland ceasing its equipment finance originations, culminating a multiyear pullback from the equipment segments as part of its “credit clean-up.”
Mefford has held the president position for seven years and has been with the company for 22 years, according to a Nov. 6 Midland release. Midland States Bank EVP and chief credit officer Jeremy Jameson has been named Mefford’s successor. As part of the bank’s succession plan, Jameson will be promoted to the newly-created position of EVP and chief banking officer, overseeing regional presidents, commercial lending and credit.
“Jeremy brings deep credit expertise, strong leadership, and a commitment to the communities we serve,” Midland States Bancorp President and Chief Executive Jeffrey Ludwig stated in the release. “We are coordinating closely to ensure a smooth transition with Jeff in the coming months.”
Midland States Bancorp’s equipment finance loans dropped 26.1% year over year to $326.9 million in Q3, and equipment finance leases fell 25.5% YoY to $311 million, according to its Oct. 30 earnings release.
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