What Midland’s $5 Million Write-Off Teaches About the Next Phase of the Trucking Slow Down
Strong Bearish
-100.0
Trucking’s pain is spreading beyond freight rates and diesel prices — it’s now hitting the banks. In its third-quarter earnings release, Midland States Bancorp revealed that trucking industry woes triggered $5 million in equipment finance charge-offs for the quarter, prompting the Illinois-based lender to walk away from equipment financing altogether. That decision wasn’t made lightly. […]
The post What Midland’s $5 Million Write-Off Teaches About the Next Phase of the Trucking Slow Down appeared first on FreightWaves.
The post What Midland’s $5 Million Write-Off Teaches About the Next Phase of the Trucking Slow Down appeared first on FreightWaves.
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