Midland States Bancorp Names Claire Stack Permanent CFO After Interim Stint

Midland States Bancorp, Inc. has formally appointed Claire A. Stack as Executive Vice President and Chief Financial Officer, effective May 8, 2026. The announcement solidifies Stack's leadership role following her interim tenure in the position since March 2026, and comes after she initially joined the organization in November 2025 as Corporate Controller. The appointment represents a strategic continuity decision for the regional banking institution as it navigates evolving financial and regulatory landscapes in the sector.

Executive Transition and Background

Stack's appointment concludes what appears to have been a deliberate evaluation period for the organization. Her journey through the company—from Corporate Controller to interim CFO to permanent Executive Vice President and Chief Financial Officer—suggests the bank tested her capabilities across critical financial functions before formalizing the role.

Stack brings substantial industry credibility to the position, with more than 15 years of accounting and finance leadership experience across the financial services sector. Her professional background includes significant roles at two of the "Big Four" accounting and consulting firms:

• PwC (PricewaterhouseCoopers)
• KPMG

This experience at global accounting powerhouses indicates Stack has worked extensively on financial audit, advisory, and compliance matters for financial institutions—expertise directly applicable to her new role at Midland States Bancorp.

Market Context and Banking Sector Dynamics

The appointment occurs amid a period of significant change in regional banking. Community and midsize banks have faced mounting pressures including:

• Rising interest rate environment affecting net interest margins
• Increased regulatory compliance costs and capital requirements
• Technology modernization demands requiring substantial investment
• Talent retention challenges as larger competitors aggressively recruit
• Credit quality concerns amid economic uncertainty

For regional banks like Midland States Bancorp, having seasoned financial leadership becomes increasingly critical. The CFO role encompasses not only traditional financial reporting and treasury functions but also capital management, risk assessment, and strategic financial planning—all essential as banks navigate post-pandemic economic conditions.

Stack's background in working with financial institutions across multiple engagements at PwC and KPMG positions her to understand industry-wide best practices, regulatory expectations, and emerging challenges that Midland States Bancorp and its peers face.

Investor Implications and Governance Considerations

The formalization of Stack's CFO appointment carries several implications for stakeholders:

Leadership Stability: The promotion from interim to permanent status provides market clarity regarding Midland States Bancorp's financial leadership continuity. Uncertainty around executive transitions can weigh on investor confidence and stock performance, particularly for regional financial institutions where leadership depth is crucial.

Institutional Knowledge: Stack's seven-month tenure in interim and controller roles before her permanent appointment suggests she has already established operational familiarity with Midland States Bancorp's financial systems, challenges, and strategic priorities. This reduces typical transition risks associated with CFO appointments.

Relevant Experience: Her demonstrated expertise in financial services—gained through major professional engagements at PwC and KPMG—positions her to address current industry challenges including regulatory compliance, interest rate risk management, asset quality monitoring, and capital optimization.

Investor Considerations: Shareholders typically monitor CFO appointments closely, as the Chief Financial Officer functions as a critical interface between the board, management, investors, and regulatory bodies. A CFO with credible regional banking experience and Big Four credentials may be viewed positively by the investor community.

Forward-Looking Perspective

Stack's permanent appointment as Executive Vice President and Chief Financial Officer represents Midland States Bancorp's confidence in her ability to lead the organization's financial strategy. The staggered appointment process—initially as Corporate Controller, then interim CFO, and finally as permanent EVP and CFO—demonstrates deliberate governance practice by the board and management team.

For Midland States Bancorp shareholders and market observers, the appointment provides clarity on financial leadership during a period when strong, experienced CFO leadership matters significantly. With her background spanning major accounting firms and over 15 years in financial services, Stack arrives equipped to manage the complex financial challenges facing regional banks in 2026 and beyond. The formal confirmation of her role should eliminate any interim uncertainty and allow the organization to focus on executing its strategic financial objectives.