SOURCE: First Midwest Bancorp, Inc.

First Midwest Bancorp, Inc.

January 13, 2010 20:30 ET

First Midwest Bancorp, Inc. Announces Pricing of $180 Million Common Stock Offering

ITASCA, IL--(Marketwire - January 13, 2010) - First Midwest Bancorp, Inc. ("First Midwest" or the "Company") (NASDAQ: FMBI) today announced the pricing of its underwritten public offering of approximately 16.4 million shares of the Company's common stock at a price to the public of $11.00 per share, for gross proceeds of approximately $180 million. The net proceeds to the Company after deducting underwriting discounts and commissions and estimated offering expenses are expected to be approximately $170 million. The underwriters will have a 30-day option to purchase up to approximately 2.5 million additional shares of the Company's common stock. First Midwest intends to use the net proceeds of the offering for general corporate purposes.

Goldman, Sachs & Co. and Keefe, Bruyette & Woods, Inc. acted as joint bookrunners for the offering. Sandler O'Neill + Partners, L.P. acted as co-manager for the offering.

This press release is for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy the common stock. The offering is not being made in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction.

First Midwest has filed a shelf registration statement with the Securities and Exchange Commission (SEC), which is effective, and a prospectus supplement related to this offering. Prospective investors should read the registration statement (including the base prospectus), the prospectus supplement and other documents the Company has filed with the SEC for more complete information about the Company and the offering. Copies of the registration statement, the prospectus supplement and other documents the Company has filed with the SEC are available for free by visiting EDGAR on the SEC Web site at Additionally, these documents may be obtained from Goldman, Sachs & Co., Attn: Prospectus Department, 85 Broad Street, New York, NY 10004 or by faxing (212) 902-9316, calling toll-free (866) 471-2526 or emailing or from Keefe, Bruyette & Woods, Inc., Attn: Equity Capital Markets, 787 Seventh Avenue, 4th Floor, New York, NY 10019 or by calling toll-free (800) 966-1559.

Contact Information


    Cynthia Lance (Media)
    EVP and Corporate Secretary
    First Midwest Bancorp, Inc.
    (630) 875-7345

    Paul Clemens (Investors)
    EVP and Chief Financial Officer
    First Midwest Bancorp, Inc.
    (630) 875-7347