Midland States announces CEO succession plan

Jeffrey G. Ludwig
Leon J. Holschbach

Leon J. Holschbach will retire from his position as CEO of Midland States Bancorp, Inc., on Dec. 31. He will continue to serve as vice chairman of the company and Midland States Bank.

Jeffrey G. Ludwig will assume the CEO title of Midland States Bancorp at that time in addition to his current positions as president of the holding company and CEO of Midland States Bank.

Holschbach has held the CEO and vice chairman titles since August 2007, when he joined the company. Prior to that, he held positions with AMCORE Bank, N.A., and Citizen’s State Bank, Clinton, Wis. He has a Bachelor of Arts degree in economics from the University of Wisconsin.

“We are extremely grateful for the leadership that Leon has provided for more than a decade,” said John M. Schultz, chairman of the $5.7 billion Midland States.  “During his time as CEO, Midland has grown to become one of the largest community banks in Illinois and the Company created tremendous value for its shareholders in the process. The past ten years have truly been transformational for Midland, including the successful completion of 13 acquisitions and the company’s IPO in May 2016.”

Ludwig joined Midland States in November 2006 as chief financial officer.  He was promoted to executive vice president of the holding company in October 2010, to president of the bank in March 2016, and then to president of the company and CEO of the bank in March 2018.

Prior to joining Midland States, he was associate director of corporate reporting for Zimmer Holdings, Inc., Warsaw, Ind. He also held positions with Novellus Systems, Inc., San Jose, Calif., KPMG LLP in its banking practice in St. Louis, and in its technology practice in Mountain View, Calif. He has a Bachelor of Science degree in accounting from Eastern Illinois University, Charleston.