FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

HOLSCHBACH LEON J 		2. Issuer Name and Ticker or Trading Symbol

Midland States Bancorp, Inc. [ MSBI ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__ X __ Director                      _____ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
CEO
(Last)          (First)          (Middle)

1201 NETWORK CENTRE DR. 		3. Date of Earliest Transaction (MM/DD/YYYY)

2/23/2017
(Street)

EFFINGHAM, IL 62401
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8) 		4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock   2/23/2017     M    2532   A $35.29   144306   (1) D    
Common Stock   2/23/2017     D    2532   D $35.29   141774   (1) D    

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8) 		5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4) 		8. Price of Derivative Security
(Instr. 5) 		9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Restricted Stock Unit     (2) 2/23/2017     M         2532      (2)   (2) Common Stock   2532   $35.29   5064   D    
Option (right to buy)   $16                      (3) 12/13/2022   Common Stock   14072     14072   D    
Option (right to buy)   $18.16                      (4) 12/6/2020   Common Stock   11820     11820   D    
Option (right to buy)   $16.59                      (5) 12/10/2023   Common Stock   16274     16274   D    
Option (right to buy)   $21                      (6) 12/2/2024   Common Stock   22762     22762   D    
Option (right to buy)   $14.60                      (7) 8/15/2017   Common Stock   50000     50000   D    
Option (right to buy)   $11.75                      (8) 6/22/2019   Common Stock   28190     28190   D    
Option (right to buy)   $14.70                      (9) 5/5/2018   Common Stock   8500     8500   D    
Option (right to buy)   $15.20                      (10) 12/31/2019   Common Stock   31500     31500   D    
Option (right to buy)   $14.75                      (11) 12/16/2021   Common Stock   14556     14556   D    
Option (right to buy)   $18                      (12) 8/5/2024   Common Stock   90000     90000   D    
Common Share Equivalent     (13)                    (14)   (14) Common Stock   3987.8992     3987.8992   D    
Restricted Stock Unit     (15)                    (15)   (15) Common Stock   7048     7048   D    

Explanation of Responses:
( 1)  Includes holdings through a self-directed IRA or revocable grantor trust
( 2)  The restricted stock units vest in the three equal annual installments beginning one year after the November 3, 2015 date of grant
( 3)  These options vest in four equal annual installments beginning one year after the 12/13/2012 date of grant.
( 4)  These options vest in four equal annual installments beginning one year after the 12/06/2010 date of grant.
( 5)  These options vest in four equal annual installments beginning one year after the 12/10/2013 date of grant.
( 6)  These options vest in four equal annual installments beginning one year after the 12/02/2014 date of grant.
( 7)  These options vest in four equal annual installments beginning one year after the 08/15/2007 date of grant.
( 8)  These options vest in four equal annual installments beginning one year after the 06/22/2009 date of grant.
( 9)  These options vest in four equal annual installments beginning one year after the 05/05/2008 date of grant.
( 10)  These options vest in four equal annual installments beginning one year after the 12/31/2009 date of grant.
( 11)  These options vest in four equal annual installments beginning one year after the 12/16/2011 date of grant.
( 12)  Such options will vest on 12/31/2017 if specific performance metrics are satisfied, as determined by the Board of Directors.
( 13)  No exercise price for this type of award
( 14)  Common share equivalents become payable upon termination of service as a director except for any unvested portion of the Issuer matching contribution.
( 15)  The restricted stock units vest in the two equal annual installments beginning one year after the November 16, 2016 date of grant

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
HOLSCHBACH LEON J
1201 NETWORK CENTRE DR.
EFFINGHAM, IL 62401 		X
CEO

Signatures
/s/ Holschbach Leon J 2/27/2017
** Signature of Reporting Person Date

/s/ Douglas J. Tucker, attorney-in-fact 2/27/2017
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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