Effingham, Ill.-based MidlandStates Bancorp Inc. on April 11 filed a registration statement for aproposed initial proposed offering of its common stock, on behalf of the companyitself as well as the selling shareholders.

The proposed maximum aggregate offering price is $120 million,estimated solely to calculate the registration fee. That dollar amount includesthe aggregate offering price of additional shares that the underwriters have theoption to purchase. Sandler O'Neill & Partners LP, Keefe Bruyette & WoodsInc., D.A. Davidson & Co. and Stephens Inc. serve as underwriters for the offering.

The company has not yet determined a price range for the plannedoffering.

According to the Form S-1, the company has applied to list itscommon stock on the Nasdaq Global Select Market under the symbol "MSBI."

The company said it intends to use part of the proceeds for apending acquisitionof wealth management assetsfrom Sterling Bancorpunit Sterling National Bank.Specifically, of the amount the company plans to contribute to unit , approximately $4.8million is expected to be used in connection with that Sterling deal.

The remainder of the proceeds will go toward general corporatepurposes, potentially including possible future acquisitions and any other growthinitiatives.