What is Midland States Bancorp, Inc.'s Shariah compliance score?

Midland States Bancorp, Inc.'s (MSBI) compliance score is being calculated. Check HalalScreener.app for the latest AAOIFI screening results.

Does Midland States Bancorp, Inc. pass AAOIFI screening?

Midland States Bancorp, Inc. (MSBI) does not pass AAOIFI Shariah screening. AAOIFI requires: (1) no primary involvement in prohibited activities like alcohol, gambling, or conventional banking, (2) debt-to-market-cap below 30% (MSBI: 62.3%), (3) interest-bearing deposits below 30% (MSBI: 232.6%), and (4) prohibited income below 5% (MSBI: 83.0%). HalalScreener provides free AAOIFI screening for 10,000+ stocks at halalscreener.app.

How much purification is needed for Midland States Bancorp, Inc. stock?

Midland States Bancorp, Inc. (MSBI) has a non-permissible income ratio of 82.95%. Muslim investors should purify this percentage of any dividends received and capital gains realized from MSBI shares by donating it to charity. HalalScreener's purification calculator at halalscreener.app/en/purification automates this calculation using the latest financial data.

Where can I screen Midland States Bancorp, Inc. for Shariah compliance for free?

HalalScreener (halalscreener.app) offers free Shariah compliance screening for Midland States Bancorp, Inc. (MSBI) and 10,000+ other US-listed stocks, ETFs, and 100+ cryptocurrencies. The screening uses AAOIFI Standard No. 21 and shows all financial ratios transparently. No credit card or signup required for basic screening. HalalScreener also includes an AI Islamic Scholar for follow-up questions about MSBI's compliance across different madhabs (Hanafi, Shafi'i, Maliki, Hanbali, Ja'fari).

Is Midland States Bancorp, Inc. (MSBI) halal? Not Halal. Based on AAOIFI screening, Midland States Bancorp, Inc. has involvement in prohibited business activities with a compliance score of 0/100 (Grade: F).

MSBI: Is Midland States Bancorp, Inc. Halal?

Not Halal

Midland States Bancorp, Inc.

NASDAQFinancial ServicesUS

$29.43

+1.06%

AvoidBorderlineClean

About Midland States Bancorp, Inc.

Midland States Bancorp, Inc. serves as the financial holding company for Midland States Bank, delivering a broad spectrum of banking products and services to individual consumers, businesses, municipalities, and various other entities. Its operations are strategically divided into Banking, Wealth Management, and Other segments. The bank offers a comprehensive suite of deposit solutions, including checking, savings, money market, and sweep accounts, in addition to certificates of deposit (CDs). Regarding lending, Midland provides diverse financing options such as term loans for capital equipment, lines of credit for working capital and operational needs, and commercial real estate loans covering owner-occupied, investment properties, and farmland. It also finances construction and land development projects for both commercial real estate and residential developments, including single-family homes and owner-user properties. Residential customers can access mortgage loans and home equity lines of credit (HELOCs). For consumers, the company extends installment loans for significant purchases like automobiles, recreational vehicles, major appliances, and home improvement projects. Additionally, the bank offers commercial equipment leasing. Within its Wealth Management segment, Midland provides an array of advisory and management services. These encompass financial and estate planning, trustee and custodial services, investment management, tax and insurance planning, business planning, corporate retirement plan consulting and administration, and retail brokerage services. As of December 31, 2021, the company operated 52 full-service banking branches. Established in 1881, Midland States Bancorp, Inc. maintains its headquarters in Effingham, Illinois.

Sector: Financial Services · Industry: Banks - Regional

Shariah Compliance Status

AAOIFI Standard 21Updated Jun 20, 2026

Non-Compliant

Fails Shariah screening

0Score

Business Activity Screen

Failed

Checks if the business is involved in prohibited activities (alcohol, gambling, pork, conventional banking, etc.)

Prohibited industry: Banks - Regional

Financial Ratio Screen

Failed

Financial ratios must be below AAOIFI thresholds

Debt / Market Cap62.3% / 30.0%

Compliance History

Not Halal, unchanged since May 2026.

No status changes recorded since we began tracking.

Tracked since May 2026. Updates automatically on each re-screen.

Screened: Jun 20, 2026Fiscal: FY 2025Source: FMP

Financial Overview

Market Cap

610.1M

Price

$29.43

Sector

Financial Services

Industry

Banks - Regional

Halal Alternatives in Financial Services

This stock is not Shariah-compliant. Here are halal alternatives from the same sector, ranked by compliance score:

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Frequently Asked Questions

Is Midland States Bancorp, Inc. (MSBI) halal to invest in?

Midland States Bancorp, Inc. (MSBI) is rated Not Halal under AAOIFI Standard 21 screening. It fails either the business activity screen (primary involvement in prohibited sectors such as conventional banking, alcohol, or gambling) or one of the quantitative financial ratio thresholds. Muslim investors should avoid or exit this position.

Why did Midland States Bancorp, Inc. get a F compliance rating?

Midland States Bancorp, Inc. (MSBI) received a grade of F (Non-Compliant) based on three AAOIFI Standard 21 financial ratios: debt-to-market-cap of 62.3% (limit 30%); interest-bearing deposits of 232.6% (limit 30%); prohibited income of 82.95% (limit 5%). The grade reflects the margin of safety across all three ratios relative to their thresholds.

What could change Midland States Bancorp, Inc.'s Shariah verdict?

Midland States Bancorp, Inc.'s verdict is re-evaluated at each annual re-screen. Three events could change it: (1) the debt-to-market-cap ratio crossing 30%, typically from new debt issuance or a major drop in share price; (2) interest-bearing deposits exceeding 30% of market cap; or (3) prohibited revenue (alcohol, gambling, conventional finance, etc.) exceeding 5% of total revenue. Verdict flips are tracked in the compliance history section above.

How often is Midland States Bancorp, Inc. re-screened for Shariah compliance?

Midland States Bancorp, Inc. (MSBI) is re-screened annually using the most recent full-year financial data from SEC filings. HalalScreener also triggers an on-demand re-screen whenever the stored data is more than 7 days old, ensuring the ratios reflect the latest available financial statements. Last screened: Jun 20, 2026.

Screened according to AAOIFI Standard No. 21 · For informational purposes only. Consult a qualified Islamic finance advisor before investing.

Disclaimer: This screening is for informational purposes only and does not constitute financial, legal, or religious advice. Compliance is evaluated using AAOIFI financial standards (debt, deposits, and prohibited income ratios) and publicly available data. Ethical, political, social, or environmental considerations are outside the scope of this screening. Individual scholars and methodologies may differ. Always consult a qualified Islamic finance advisor before making investment decisions.