Midland States Bank $3.13M Overdraft and NSF Fee Settlement

Consumers who had a personal checking account with Midland States Bank, Alpine Bank & Trust Co. or Centrue Bank in Illinois and were charged certain overdraft or non-sufficient funds (NSF) fees may qualify to receive a payment from a $3,125,000 class action settlement.

Midland States Bank agreed to pay $3.13 million to settle a class action lawsuit claiming it, along with Alpine Bank & Trust Co. and Centrue Bank, improperly charged certain overdraft and NSF fees. These reportedly included fees on debit card transactions that authorized on sufficient funds but settled on negative balances, fees on merchants’ attempts to collect their own fees, and multiple fees on the same transaction.

Who is eligible for a Midland States Bank payout?

Consumers are included in the class if they meet at least one of the following criteria:

• They had a personal checking account with Alpine Bank & Trust Co. in Illinois between April 8, 2012, and Feb. 28, 2018, and were charged one or more Authorized Positive, Settled Negative (APSN) fees.
• They had a personal checking account with Alpine Bank & Trust Co. in Illinois during the same period and were charged one or more Retry fees (fees assessed after an initial NSF fee for the same transaction).
• They had a personal checking account with Centrue Bank in Illinois from April 8, 2012, to June 12, 2017, and were charged one or more APSN fees.
• They had a personal checking account with Midland States Bank in Illinois from April 8, 2012, to April 30, 2022, and were charged one or more APSN Fees.
• They had a personal checking account with Midland States Bank in Illinois during the same period and were charged one or more Fees-on-Fees (fees for a merchant’s attempt to collect its own fee).

How much is the bank NSF and overdraft fee settlement payment?

Pro rata payment: Each settlement member will receive a pro rata cash payment based on the amount of qualifying individual fees they paid.

No claim form needed to receive compensation

There is no online claim form or downloadable PDF claim form for this settlement. The settlement administrator has been provided with bank customer and fee records.

Payout options

• Current accountholders: Payment will be credited directly to their Midland States Bank account.
• Former accountholders: Payment will be sent by paper check to their last known address

$3.13 million Midland States Bank fee settlement fund payout

The settlement fund of $3,125,000 covers:

• Settlement administration costs: Up to $71,490
• Attorneys’ fees: Up to $1,041,562.50
• Attorneys’ costs: To be presented to court for approval at a later date
• Service awards to class representatives: Up to $10,000 each
• Payments to class members: Remaining settlement funds after the above deductions

Important dates

• Exclusion Deadline: Aug. 11, 2025
• Final Approval Hearing: Sept. 10, 2025

When is the Midland States Bank fees payout date?

Payments or credits to qualifying accountholders will be made within 90 days after the court grants final approval.

Why is there a class action settlement?

The class action lawsuit alleged Midland States Bank, Alpine Bank & Trust Co. and Centrue Bank improperly charged certain overdraft and NSF fees. The plaintiffs claimed these practices violated account agreements and Illinois law.

The banks deny any wrongdoing but agreed to settle to avoid the risks and expenses of continued litigation and trial.

Sources

1. Class Notice
2. Settlement Website FAQ
3. Settlement Agreement