IPOs this week (1 Aug 2011) : 4 companies scheduled

* Please read the note below:

Company	Symbol	Offer Date	Scale	Shares
American Capital Mortgage	MTGE	08/01/2011	$350	17.5
WageWorks, Inc.	WAGE	08/01/2011	$74.99999	5.76923
WhiteGlove Health	WGH	08/01/2011	$27.5	2.5
Midland States Bancorp, Inc.	MSBI	08/01/2011	$80	5

• WhiteGlove delayed IPO for second time, now expects to price next week. It was originally scheduled to price last week, then this week, and has now been moved into next week.  The company, which provides private, membership-based medical services at members' workplaces or homes, is considered an add-on benefit targeted at self-insured employers and individuals. Its customers pay a monthly or annual fee, and individuals pay $35 per visit, in exchange for convenient access to basic primary care or certain chronic care issues.  The service, which relies on nurse practitioners to deliver care and doesn't cover specialists and diagnostics like ultrasound, takes care of illnesses like colds or earaches, as well as management of conditions like diabetes.  WhiteGlove claims that its services cut back on urgent care clinic and emergency room visits and cut absenteeism for workers.  The company has never been profitable and warns that it expects to continue to post significant operating losses as it expands from its current base of markets, five of which are in Texas.
• 8/4 : WageWorks Inc., the provider of human-resources services for companies including Ford Motor Co., also postponed its initial public offering after U.S. stocks posted their biggest daily decline in more than two years.

Midland States expects 5 million-share IPO pricing at $15-$17 a share

Midland States Bancorp Inc. expects its initial public offering of 5 million common shares to price between $15 and $17 each.

The company originally filed plans in May to sell up to $75 million of common stock to fund long-term growth initiatives.

• Midland States is the fourth largest bank holding company in Illinois
• The Effingham, IL-based company booked $58 million in sales for the 12 months ended December 31, 2010

Midland States operates 29 banking offices in 23 communities, primarily in central and northern Illinois. Its 2010 profit slid 34% from the prior year due to higher non-interest expenses, although loan-loss provisions fell and net interest income jumped.

Midland States intends to trade on the Nasdaq Stock Market under the symbol MSBI.

Midland States was founded in 1881 as Effingham State Bank. But the company’s growth didn’t accelerate until recent years, after a 2005 name change. Since 2007, the company has acquired holdings in the Metro East, Champaign-Urbana and Springfield.

In SEC filings, company executives say they want to use the IPO to enhance opportunities for the company’s continued growth.

“We believe the banking landscapes in Illinois, Missouri and Indiana provide significant opportunities to large numbers of community banks currently operating in those states,” according to the filing. “We believe these fragmented markets and large numbers of potential targets will provide us with significant ongoing growth and considerable opportunities.”

The IPO would be based on slightly less than 4.25 million shares outstanding on June 1. According to the filing, the company believes risk factors include continued worsening of economic conditions and risks involved with pursuing acquisitions.

Bank President/CEO Leon Holschbach isn’t saying how many of those outstanding shares will be offered. In fact, Holschbach isn’t saying much of anything about the proposal, citing a “quiet period” mandated while the SEC reviews the bank’s filings.

SEC filings indicate, however, a proposed aggregate asking price of $75 million. Moreover, the bank would like to use MSBI as its stock exchange symbol.

The Private Bank of Eversman, Wood and Engbring was founded Sept. 1, 1881, by some of Effingham’s heavy hitters of the day. Dr. Henry Eversman had been mayor of Effingham, while attorney Benson Wood was mayor at the time the bank was founded. They were joined in the business with Benson’s older brother Virgil and Gerhard H. Engbring.

The founders incorporated the bank more than 20 years after its founding — on March 1, 1903 — and changed the name to Effingham State Bank. After a period of acquisitions, the name was again changed to Midland States Bank — reflecting the bank’s wider service area — on July 1, 2005.

As a sign of the bank’s stability, only nine men have served as its president in its 130-year history.

Current president Holschbach has been in charge since 2007.