Eric Chojnicki, President of Midland Wealth Management, said, "We are thrilled to have another accomplished team joining our Wealth Management team. This transaction enhances our ability to serve our customers, especially in the areas of Special Needs and Settlement Trust. The Sterling team shares our client-focused philosophy, and we believe the expanded capabilities they provide will improve our ability to continue expanding our wealth management business in the future."Keefe, Bruyette & Woods, Inc. served as financial advisor to Sterling and Wachtell, Lipton, Rosen & Katz served as Sterling's legal counsel in connection with the transaction. Barack Ferrazzano Kirschbaum & Nagelberg LLP served as legal counsel to Midland. 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. Midland had assets of approximately $3.2 billion, and its Midland Wealth Management Group had assets under administration of approximately $1.2 billion as of September 30, 2016. Midland provides a full range of commercial and consumer banking products and services, merchant credit card services, trust and investment management, and insurance and financial planning services. In addition, commercial equipment leasing services are provided through Heartland Business Credit, and multi-family and healthcare facility FHA financing is provided through Love Funding, Midland's non-bank subsidiaries. Midland has more than 80 locations across the United States. For additional information, visit www.midlandsb.com or follow Midland on LinkedIn at https://www.linkedin.com/company/midland-states-bank. About Sterling National Bank Sterling Bancorp, of which the principal subsidiary is Sterling National Bank, specializes in the delivery of service and solutions to business owners, their families, and consumers within the communities we serve through teams of dedicated and experienced relationship managers. Sterling National Bank offers a complete line of commercial, business, and consumer banking products and services. Additional information is available at: www.sterlingbancorp.com. Forward-Looking Statements Readers should note that in addition to the historical information contained herein, this press release includes "forward-looking statements," including but not limited to statements about Midland's wealth management operations. These statements are subject to many risks and uncertainties, including changes in interest rates and other general economic, business and political conditions, including changes in the financial markets; changes in business plans as circumstances warrant; and other risks detailed from time to time in filings made by Midland and Sterling with the Securities and Exchange Commission. Readers should note that the forward-looking statements included in this press release are not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "will," "propose," "may," "plan," "seek," "expect," "intend," "estimate," "anticipate," "believe" or "continue," or similar terminology. Any forward-looking statements presented herein are made only as of the date of this press release, and we do not undertake any obligation to update or revise any forward-looking statements to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.
CONTACTS:MIDLAND STATES BANCORP, INC.:Jeffrey G. Ludwig, Exec. V.P., Chief Financial Officer, at firstname.lastname@example.org or (217) 342-7321Douglas J. Tucker, Sr. V.P., Corporate Counsel, at email@example.com or (217) 342-7321STERLING NATIONAL BANK:Jim Peoples, Sr. EVP & Chief Banking Officer, at firstname.lastname@example.org or (845) 369-8040