Midland States Bancorp Makes Changes at the Top

(JEFF LUDWIG)

Midland States Bancorp has promoted three executives as part of a succession plan.

Jeff Ludwig has been promoted to president of the company and CEO of Midland States Bank. Ludwig succeeds Leon Holschbach as president, but Holschbach will remain CEO of the company. Ludwig had been executive vice president and CFO of the company, and president and CEO of the bank.

In addition, Jeff Mefford has been promoted from executive vice president to president of the bank. Stephen Erickson has been promoted from director of mergers and acquisitions for the bank to CFO of the company and the bank.

Holschbach said in a statement, "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."

Ludwig joined Midland in 2006 after work in Indiana, California and St. Louis. He is an Effingham High School and Eastern Illinois University graduate.

(JEFF MEFFORD)

Mefford joined the bank in 2003 after banking experience elsewhere in Illinois. He's an Illinois College graduate with a MBA from William Woods University.

Erickson joined Midland in 2012 when it acquired EnablePay Direct, Inc., which he founded. He holds degrees from the University of Illinois in Urbana-Champaign and New York University.

(LEON HOLSCHBACH)

It's been a busy month for Midland, which earlier acquired Alpine Bancorporation, Inc., the operator of Alpine Bank and Trust Company of Belvidere.

Midland, based in Effingham, has total assets of $5.7 billion and its Wealth Management Group had assets under administration of $3.2 billion.