Jeremy A. Jameson
About Jeremy A. Jameson
Jeremy A. Jameson is Midland States Bank’s Executive Vice President – Chief Credit Officer, appointed on August 12, 2024, and designated to be promoted to Executive Vice President – Chief Banking Officer as part of a succession plan announced November 6, 2025; he is 44 years old and will oversee Regional Presidents, commercial lending, and credit under the new role . He has 20+ years of banking and credit experience, a BS in Finance from Iowa State University, and is a graduate of the Graduate School of Banking at LSU . As context for pay‑for‑performance alignment during his tenure period, Midland’s 2024 Adjusted EPS was $1.32, Net Income was $38.04 million, and cumulative TSR from a fixed $100 initial investment stood at $108.65 (peer group TSR $123.79) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Midland States Bank | EVP – Chief Credit Officer | Appointed Aug 12, 2024–present | Oversees all credit operations; develops and implements credit policies and strategies to prudently manage risk while supporting growth . |
| Midland States Bank | EVP – Chief Banking Officer (designate) | Announced Nov 6, 2025; effective upon transition | Will lead Regional Presidents, commercial lending and credit, reporting to the CEO; succession tied to Bank President retirement in 2026 . |
| Midland States Bancorp (Investor materials) | Senior management team – Chief Credit Officer | Nov 12, 2024 materials | Track record managing clients up to $100MM; designs comprehensive credit and lending strategies; administers credit policy, risk management, and loan origination systems . |
External Roles
No external board or corporate roles disclosed for Jameson in company filings or furnished materials .
Fixed Compensation
- Jameson is not listed among the named executive officers (NEOs) in the 2025 proxy; therefore, base salary and bonus payments are not disclosed in the Summary Compensation Table .
- Midland’s executive pay framework comprises base salary (fixed), annual cash incentives (variable), and long‑term equity (variable), with peer benchmarking and risk oversight by the Compensation Committee .
Performance Compensation
The Corporate Bonus Plan conditions annual cash incentives on three financial metrics with explicit weights and payout curves; 2024 awards were approved at 27% of target on company results. While Jameson’s individual bonus is not disclosed, these plan mechanics govern executive incentives.
| Metric (2024) | Weight | Threshold | Target | Actual | Percent Attained | Payout % |
|---|---|---|---|---|---|---|
| Adjusted EPS ($/share) | 35% | $2.84 | $3.15 | $(1.05) | 0.0% | 0% |
| Adjusted PTPP Income ($000s) | 35% | $111,761 | $124,179 | $106,306 | 85.61% | 0% |
| Adjusted Revenue ($000s) | 30% | $275,815 | $306,461 | $299,568 | 97.75% | 90% |
| Total Payout vs Target | — | — | — | — | — | 27% |
Notes:
- 2024 actuals were later subject to a restatement; the Audit Committee will perform clawback recovery analysis on incentive compensation per SEC Rule 10D‑1 and the Company’s policy .
Equity Ownership & Alignment
- Stock ownership guidelines: CEO 3× salary; Other Section 16 officers 2× salary; Directors 5× cash retainer; five‑year compliance window with mandatory 25% retention of net shares until guideline met; unvested restricted stock and certain deferred units count toward compliance .
- Anti‑hedging policy: Directors, executive officers, and employees are prohibited from hedging Midland securities (e.g., collars, swaps, prepaid forwards); broad‑based ETFs are permitted .
- Equity vehicles and vesting: Long‑term incentives currently granted as restricted stock with four equal annual tranches; awards accelerate on involuntary termination in connection with change‑of‑control (double‑trigger) or upon death/disability; no single‑trigger vesting for awards granted during 2020 and thereafter under the 2019 LTIP .
- Pledging: Some insiders have pledged shares (e.g., CEO Ludwig: 111,569 pledged), highlighting monitoring importance; no pledging by Jameson is disclosed in the proxy’s ownership table .
Employment Terms
| Topic | Company Disclosure | Implications |
|---|---|---|
| Clawback Policy | SEC/Nasdaq‑compliant clawback adopted Nov 6, 2023; recovery required upon restatements; Audit Committee oversees determinations . | Aligns incentives with accurate reporting; potential recovery of 2024 incentives post‑restatement . |
| Severance Policy | Discretionary severance for employees terminated without cause: 4 weeks of base salary per year of service, max 26 weeks; release required . | Baseline protection for executives not under bespoke employment agreements . |
| Non‑Compete/Non‑Solicit | NEO agreements include 12‑month restrictive covenants post‑termination (examples in proxy) . | Typical bank‑sector protections; indicates expected scope for senior leaders . |
| Change‑of‑Control Treatment | Equity awards under 2019 LTIP accelerate upon involuntary termination in connection with change‑of‑control; no single‑trigger for awards since 2020 . | Double‑trigger vesting reduces windfall risk; stabilizes retention around transactions . |
Performance & Track Record
- Senior team inclusion and remit: Jameson is recognized among Midland’s “Experienced Senior Management Team” with responsibility for credit policy, credit risk management, and loan origination systems and a client management track record up to $100MM .
- Company performance context: In 2024, Adjusted EPS was $1.32; Net Income was $38.04 million; cumulative TSR value for a fixed $100 initial investment was $108.65, with peer group TSR at $123.79, informing incentive outcomes and strategic focus .
Investment Implications
- Near‑term succession catalyst: Planned promotion to EVP – Chief Banking Officer centralizes lending and credit under Jameson, a potential positive for execution consistency; monitor for 8‑K Item 5.02 appointment and any new equity grants that set vesting cadence and overhang .
- Incentive alignment: Executive cash incentives are tied to Adjusted EPS, Adjusted PTPP Income, and Adjusted Revenue with explicit weights and payout curves; clawback policy and the 2024 restatement introduce possible recovery actions that may impact realized pay and retention calculus .
- Selling pressure and alignment: Four‑year equal‑tranche vesting tends to create annual liquidity windows; anti‑hedging policy limits hedging; no Jameson‑specific ownership or pledging disclosed, reducing immediate selling signal risk versus NEOs with pledged shares .
- Governance and shareholder input: Strong say‑on‑pay support (97% approval in 2024) and explicit ownership guidelines point to shareholder‑friendly constructs; continued monitoring of performance metric calibration and any changes in bonus plan thresholds/weights is warranted .