Midland States Bancorp in Effingham, Ill, will continue to work with GreenSky to develop a pipeline of consumer loans.
The $7.4
billion-asset company said during its quarterly earnings call that the
relationship will continue through at least 2023. GreenSky is being
acquired by Goldman Sachs in a deal that is expected to close later this quarter.
Midland
States has been working with GreenSky for about a decade.
Midland
States has nearly 413,000 GreenSky-related loans, totaling $875 million, on its
balance sheet, or roughly 16.7% of its total loans.
The
delinquency rate for those loans is about 0.26%.
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