Originally published at: What Midland’s $5 Million Write-Off Teaches About the Next Phase of the Trucking Slow Down - FreightWaves
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.…