Midland States Bancorp, Inc. announced Jeffrey G. Ludwig, its President and Chief Executive Officer, has been appointed to the Federal Advisory Council (FAC) of the Board of Governors of the Federal Reserve Board. The Council, established by Congress under the Federal Reserve Act, provides the Board of Governors with the financial industry’s perspective on matters under the Board’s jurisdiction, including both regulatory and monetary policy.  

As a FAC member, Ludwig will meet several times each year with the Federal Reserve’s Board of Governors as well as the heads and staff of other principal financial industry regulatory agencies and members of Congress and will have the opportunity to present information and views on the economy, current and proposed regulatory matters and the importance of community banks.

Jeffrey C. Smith, Chairman of the Board of the Company, said, “I’m delighted but not at all surprised by this appointment. Jeff and his team do a marvelous job of maintaining excellent relationships with our regulatory agencies and Jeff consistently provides thought leadership for our bank and its business and retail customers.”

Ludwig said, “I’m honored to serve in this role and look forward to sharing the insights of our organization, which is one of the largest community banks in our Federal Reserve district, with our regulators and members of Congress who oversee the financial services industry. The Federal Reserve plays a very important role in the U.S. economy and works hard to obtain the information necessary for proper policy decisions. I am grateful for the chance to help bring community bank and middle-America views to the Board’s decision-making process.”