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Midland States Bancorp, Inc.

MSBI ·Financial, Banks - Regional, United States
Analysis › Moat Score

Moat Score — Midland States Bancorp, Inc.

Total Moat Score 10 / 30
Moat Factor Score Analysis
Intangible Assets Patents, trademarks, brand strength, or regulatory licenses that protect a company's products or services from being freely copied by competitors. 2 / 5 Midland States Bank's 144-year operating history and the Midland Wealth Management brand built on $4.48 billion in assets under administration give it real local trust and client relationships.
Cost Advantage A durable ability to produce goods or services more cheaply than competitors — through scale, unique access to cheap inputs, location, or process — that lets a company undercut rivals or out-earn them at the same price. 2 / 5 A $6.51 billion deposit-funded balance sheet gives Midland lower per-dollar funding costs than smaller community bank rivals, though it still competes with larger regional banks on cost.
Pricing Power The ability to raise prices without losing meaningful business, because the product or service is differentiated, mission-critical, or has few good substitutes. 2 / 5 Midland's dominant 35.57% deposit share in Effingham County supports local pricing power, even as it faces more competitive dynamics across its wider 23-county Illinois/Missouri footprint.
Network Effect The product or service becomes more valuable to every user as more people or organizations use it, making an established leader harder to displace. 0 / 5 Commercial banking and wealth management services exhibit no meaningful network effect between customers.
Switching Costs The money, time, or operational disruption a customer would face switching to a competitor, which locks in existing customers and supports renewals. 2 / 5 Trust, retirement plan administration, and long-standing commercial banking relationships create real friction for clients considering a move to a competing institution.
Efficient Scale A market that can only profitably support a small number of players, so incumbents face limited threat from new entrants even without other defenses. 2 / 5 At $6.51 billion in assets, Midland has meaningfully more scale than a typical single-market community bank, though it remains a step below large regional banks with far greater technology and marketing budgets.