First Midwest Bancorp, Inc. operates as the bank holding company for First Midwest Bank that provides various banking products and services. The company accepts checking, NOW, money market, and savings accounts, as well as various types of short-term and long-term certificates of deposit. Its loan products include working capital needs; accounts receivable financing; inventory and equipment financing; sector-based lending, including healthcare, asset-based lending, structured finance, and syndications; agricultural loans; and mortgages, home equity lines and loans, personal loans, specialty loans, and consumer secured and unsecured loans, as well as funding for the construction, purchase, refinance, or improvement of commercial real estate properties. In addition, the company offers treasury management products and services comprising automated clearing house collection, lockbox, remote deposit capture, and financial electronic data interchange; wire transfer, account reconciliation, controlled disbursement, direct deposit, and positive pay services; information reporting services; corporate credit cards; and liquidity management, fraud prevention, and merchant services. Further, it provides fiduciary and executor, financial planning, investment advisory, employee benefit plan, and private banking services to corporate and public retirement plans, foundations and endowments, high net worth individuals, and multi-employer trust funds. Additionally, the company offers debit and automated teller machine (ATM), and credit cards; internet and mobile, and telephone banking services; and financial education services. The company operates 115 locations and 184 ATMs in metropolitan Chicago, southeast Wisconsin, northwest Indiana, central and western Illinois, eastern Iowa, and other markets in the Midwest. First Midwest Bancorp, Inc. was incorporated in 1982 and is headquartered in Chicago, Illinois.
IPO Year:
Exchange: NASDAQ
Website: firstmidwest.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 12/20/2021 | $25.00 | Mkt Perform → Outperform | Keefe Bruyette |
| 8/17/2021 | $20.39 → $22.67 | Neutral → Overweight | Piper Sandler |
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NEW YORK, Feb. 15, 2022 /PRNewswire/ -- S&P SmallCap 600 constituent Old National Bancorp (NASD:ONB) will replace Urban Edge Properties (NYSE:UE) in the S&P MidCap 400, Urban Edge Properties will replace Old National Bancorp in the S&P SmallCap 600, and Corsair Gaming Inc. (NASD:CRSR) will replace First Midwest Bancorp Inc. (NASD:FMBI) in the S&P SmallCap 600 effective prior to the opening of trading on Friday, February 18. Old National Bancorp is acquiring First Midwest Bancorp in a transaction expected to be completed on or about February 16. Post-merger, Old National Bancorp will be more representative of the mid-cap market space. Urban Edge Properties is more representative of the small
EVANSVILLE, Ind. and CHICAGO, Jan. 27, 2022 (GLOBE NEWSWIRE) -- Old National Bancorp ("Old National") (NASDAQ:ONB) and First Midwest Bancorp, Inc. ("First Midwest") (NASDAQ:FMBI), today announced that their merger of equals transaction, announced on June 1, 2021, has received Federal Reserve approval. This follows approvals received last year from the Office of the Comptroller of the Currency and stockholders of both companies. With this final regulatory step completed, the merger is expected to occur on or before March 1, 2022, subject to customary closing conditions. It will create one of the largest banks headquartered in the Midwest, with over $45 billion of combined assets, a presenc
EVANSVILLE, Ind. and CHICAGO, Jan. 27, 2022 (GLOBE NEWSWIRE) -- Old National Bancorp ("Old National") (NASDAQ:ONB) and First Midwest Bancorp, Inc. ("First Midwest") (NASDAQ:FMBI), today announced that their merger of equals transaction, announced on June 1, 2021, has received Federal Reserve approval. This follows approvals received last year from the Office of the Comptroller of the Currency and stockholders of both companies. With this final regulatory step completed, the merger is expected to occur on or before March 1, 2022, subject to customary closing conditions. It will create one of the largest banks headquartered in the Midwest, with over $45 billion of combined assets, a presenc
CHICAGO, Jan. 18, 2022 (GLOBE NEWSWIRE) -- First Midwest Bancorp, Inc. (the "Company" or "First Midwest"), the holding company of First Midwest Bank (the "Bank"), today reported results of operations and financial condition for the fourth quarter and full year of 2021. Net income applicable to common shares for the fourth quarter of 2021 was $44 million, or $0.39 per diluted common share, compared to $50 million, or $0.44 per diluted common share, for the third quarter of 2021, and $37 million, or $0.33 per diluted common share, for the fourth quarter of 2020. For the full year of 2021, the Company reported net income applicable to common shares of $182 million, or $1.60 per diluted common
CHICAGO, Jan. 05, 2022 (GLOBE NEWSWIRE) -- First Midwest Bancorp, Inc. ("First Midwest"), the holding company of First Midwest Bank, today announced that it will distribute its 2021 fourth quarter and full year earnings release on Tuesday, January 18, 2022, before the market opens, by GlobeNewswire distribution. The earnings release also will be available on First Midwest's website at investor.firstmidwest.com. Due to the pending merger between First Midwest and Old National Bancorp (NASDAQ:ONB), First Midwest will not host an earnings conference call this quarter. About First Midwest First Midwest (NASDAQ:FMBI) is a relationship-focused financial institution and one of the largest indep
CHICAGO, Nov. 17, 2021 (GLOBE NEWSWIRE) -- First Midwest Bancorp, Inc. ("First Midwest") today announced that its Board of Directors declared a quarterly cash dividend of $0.14 per share on its common stock. This quarterly cash dividend will be payable on December 15, 2021 to common stockholders of record on December 6, 2021 and will represent the 156th consecutive cash dividend paid by First Midwest since its inception in 1983. In addition, the Board of Directors declared a quarterly cash dividend of $17.50 per share (equivalent to $0.4375 per depositary share or 1/40th interest per share) on First Midwest's 7.0% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A (NASDAQ: FMBI
PEMBROKE, Bermuda, Oct. 26, 2021 (GLOBE NEWSWIRE) -- James River Group Holdings, Ltd. ("James River" or the "Company") (NASDAQ:JRVR) today announced that Patricia H. Roberts and Thomas L. Brown have been elected to its Board of Directors (the "Board"), and the additional appointment of Kirstin M. Gould to the Board. With the appointment of Ms. Gould, the Board increased its size from 10 to 11 directors. "We are very pleased to welcome Tom and Kirstin to our board," said J. Adam Abram, James River Non-Executive Chairman. "Tom and Kirstin have valuable financial, risk management, and corporate governance expertise, with deep knowledge of the specialty property and casualty insurance industr
CHICAGO, Oct. 19, 2021 (GLOBE NEWSWIRE) -- First Midwest Bancorp, Inc. (the "Company" or "First Midwest"), the holding company of First Midwest Bank (the "Bank"), today reported results of operations and financial condition for the third quarter of 2021. Net income applicable to common shares for the third quarter of 2021 was $50 million, or $0.44 per diluted common share, compared to $47 million, or $0.41 per diluted common share, for the second quarter of 2021, and $23 million, or $0.21 per diluted common share, for the third quarter of 2020. Comparative results for the third and second quarters of 2021 and the third quarter of 2020 were, in certain cases, impacted by the timing of
CHICAGO, Oct. 11, 2021 (GLOBE NEWSWIRE) -- First Midwest Bancorp, Inc. ("First Midwest"), the holding company of First Midwest Bank, today announced that it will distribute its 2021 third quarter earnings release on Tuesday, October 19, 2021, before the market opens, by GlobeNewswire distribution. The earnings release also will be available on First Midwest's website at investor.firstmidwest.com. Due to the pending merger between First Midwest and Old National Bancorp (NASDAQ:ONB), First Midwest will not host an earnings conference call this quarter. About First Midwest First Midwest (NASDAQ:FMBI) is a relationship-focused financial institution and one of the largest independent publ
CHICAGO, Sept. 16, 2021 (GLOBE NEWSWIRE) -- First Midwest Bancorp, Inc. ("First Midwest") today announced that its stockholders have overwhelmingly approved the proposed merger between First Midwest and Old National Bancorp ("Old National"), which was announced on June 1, 2021. At First Midwest's stockholder meeting held on September 15, 2021, approximately 99% of the votes cast voted in favor of the merger. "Our partnership with Old National is, at its core, a growth strategy that will put us in an even stronger position to invest, grow and innovate in talent, capabilities and services across our combined footprint," said Michael L. Scudder, Chairman and CEO of First Midwest. "We are ver
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PEMBROKE, Bermuda, Oct. 26, 2021 (GLOBE NEWSWIRE) -- James River Group Holdings, Ltd. ("James River" or the "Company") (NASDAQ:JRVR) today announced that Patricia H. Roberts and Thomas L. Brown have been elected to its Board of Directors (the "Board"), and the additional appointment of Kirstin M. Gould to the Board. With the appointment of Ms. Gould, the Board increased its size from 10 to 11 directors. "We are very pleased to welcome Tom and Kirstin to our board," said J. Adam Abram, James River Non-Executive Chairman. "Tom and Kirstin have valuable financial, risk management, and corporate governance expertise, with deep knowledge of the specialty property and casualty insurance industr
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Keefe Bruyette upgraded First Midwest Banc from Mkt Perform to Outperform and set a new price target of $25.00
Piper Sandler upgraded First Midwest Bancorp from Neutral to Overweight and set a new price target of $22.67 from $20.40 previously
Raymond James downgraded First Midwest Bancorp from Outperform to Market Perform
Stephens & Co. downgraded First Midwest Bancorp from Overweight to Equal-Weight and set a new price target of $22.00
Raymond James reiterated coverage of First Midwest Bancorp with a rating of Outperform and set a new price target of $24.00 from $20.00 previously
Raymond James reiterated coverage of First Midwest Bancorp with a rating of Outperform and set a new price target of $24.00 from $20.00 previously
Stephens downgraded First Midwest Bancorp from Overweight to Equal Weight
Stephens downgraded First Midwest Banc from Overweight to Equal-Weight and set a new price target of $19.00
Raymond James reiterated coverage of First Midwest Bancorp with a rating of Outperform and set a new price target of $20.00 from $15.00 previously
CHICAGO, Jan. 18, 2022 (GLOBE NEWSWIRE) -- First Midwest Bancorp, Inc. (the "Company" or "First Midwest"), the holding company of First Midwest Bank (the "Bank"), today reported results of operations and financial condition for the fourth quarter and full year of 2021. Net income applicable to common shares for the fourth quarter of 2021 was $44 million, or $0.39 per diluted common share, compared to $50 million, or $0.44 per diluted common share, for the third quarter of 2021, and $37 million, or $0.33 per diluted common share, for the fourth quarter of 2020. For the full year of 2021, the Company reported net income applicable to common shares of $182 million, or $1.60 per diluted common
CHICAGO, Jan. 05, 2022 (GLOBE NEWSWIRE) -- First Midwest Bancorp, Inc. ("First Midwest"), the holding company of First Midwest Bank, today announced that it will distribute its 2021 fourth quarter and full year earnings release on Tuesday, January 18, 2022, before the market opens, by GlobeNewswire distribution. The earnings release also will be available on First Midwest's website at investor.firstmidwest.com. Due to the pending merger between First Midwest and Old National Bancorp (NASDAQ:ONB), First Midwest will not host an earnings conference call this quarter. About First Midwest First Midwest (NASDAQ:FMBI) is a relationship-focused financial institution and one of the largest indep
CHICAGO, Nov. 17, 2021 (GLOBE NEWSWIRE) -- First Midwest Bancorp, Inc. ("First Midwest") today announced that its Board of Directors declared a quarterly cash dividend of $0.14 per share on its common stock. This quarterly cash dividend will be payable on December 15, 2021 to common stockholders of record on December 6, 2021 and will represent the 156th consecutive cash dividend paid by First Midwest since its inception in 1983. In addition, the Board of Directors declared a quarterly cash dividend of $17.50 per share (equivalent to $0.4375 per depositary share or 1/40th interest per share) on First Midwest's 7.0% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A (NASDAQ: FMBI
CHICAGO, Oct. 19, 2021 (GLOBE NEWSWIRE) -- First Midwest Bancorp, Inc. (the "Company" or "First Midwest"), the holding company of First Midwest Bank (the "Bank"), today reported results of operations and financial condition for the third quarter of 2021. Net income applicable to common shares for the third quarter of 2021 was $50 million, or $0.44 per diluted common share, compared to $47 million, or $0.41 per diluted common share, for the second quarter of 2021, and $23 million, or $0.21 per diluted common share, for the third quarter of 2020. Comparative results for the third and second quarters of 2021 and the third quarter of 2020 were, in certain cases, impacted by the timing of
CHICAGO, Oct. 11, 2021 (GLOBE NEWSWIRE) -- First Midwest Bancorp, Inc. ("First Midwest"), the holding company of First Midwest Bank, today announced that it will distribute its 2021 third quarter earnings release on Tuesday, October 19, 2021, before the market opens, by GlobeNewswire distribution. The earnings release also will be available on First Midwest's website at investor.firstmidwest.com. Due to the pending merger between First Midwest and Old National Bancorp (NASDAQ:ONB), First Midwest will not host an earnings conference call this quarter. About First Midwest First Midwest (NASDAQ:FMBI) is a relationship-focused financial institution and one of the largest independent publ
NEW YORK, Sept. 10, 2021 (GLOBE NEWSWIRE) -- Keefe, Bruyette & Woods, Inc., a leading specialist investment bank to the financial services and fintech sectors, and a wholly owned subsidiary of Stifel Financial Corp. (NYSE:SF), announces the upcoming index rebalancing for the third quarter of 2021. This quarter, there are constituent changes within two of our indexes: the KBW Nasdaq Bank Index (TICKER:BKX, NASDAQ:KBWB) and the KBW Nasdaq Regional Banking Index (TICKER:KRX, NASDAQ:KBWR). These changes will be effective prior to the opening of business on Monday, September 20, 2021. As part of this rebalancing, below are the component level changes across impacted indices: KBW Nasdaq Ban
CHICAGO, Aug. 26, 2021 (GLOBE NEWSWIRE) -- First Midwest Bancorp, Inc. ("First Midwest") today announced that its Board of Directors declared a quarterly cash dividend of $0.14 per share on its common stock. This quarterly cash dividend will be payable on October 12, 2021 to common stockholders of record on September 24, 2021 and will represent the 155th consecutive cash dividend paid by First Midwest since its inception in 1983. In addition, the Board of Directors declared a quarterly cash dividend of $17.50 per share (equivalent to $0.4375 per depositary share or 1/40th interest per share) on First Midwest's 7.0% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A (NASDAQ: FMB
CHICAGO, July 20, 2021 (GLOBE NEWSWIRE) -- First Midwest Bancorp, Inc. (the "Company" or "First Midwest"), the holding company of First Midwest Bank (the "Bank"), today reported results of operations and financial condition for the second quarter of 2021. Net income applicable to common shares for the second quarter of 2021 was $47 million, or $0.41 per diluted common share, compared to $41 million, or $0.36 per diluted common share, for the first quarter of 2021, and $18 million, or $0.16 per diluted common share, for the second quarter of 2020. Comparative results for the second and first quarters of 2021 and the second quarter of 2020 were, in certain cases, impacted by the timing of c
CHICAGO, May 20, 2021 (GLOBE NEWSWIRE) -- First Midwest Bancorp, Inc. (the "Company") today announced that its Board of Directors declared a quarterly cash dividend of $0.14 per share on the Company's common stock. This quarterly cash dividend will be payable on July 13, 2021 to common stockholders of record on June 25, 2021 and will represent the 154th consecutive cash dividend paid by First Midwest since its inception in 1983. In addition, the Board of Directors declared a quarterly cash dividend of $17.50 per share (equivalent to $0.4375 per depositary share or 1/40th interest per share) on the Company's 7.0% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A (NASDAQ: FMBIP)
CHICAGO, April 20, 2021 (GLOBE NEWSWIRE) -- First Midwest Bancorp, Inc. (the "Company" or "First Midwest"), the holding company of First Midwest Bank (the "Bank"), today reported results of operations and financial condition for the first quarter of 2021. Net income applicable to common shares for the first quarter of 2021 was $41 million, or $0.36 per diluted common share, compared to $37 million, or $0.33 per diluted common share, for the fourth quarter of 2020, and $19 million, or $0.18 per diluted common share, for the first quarter of 2020. Comparative results for the first quarter of 2021 and the fourth and first quarters of 2020 were, in certain cases, impacted by the timing of c