SOURCE: First Midwest Bank

First Midwest Bank

April 02, 2010 13:46 ET

First Midwest Bank Clarifies Market Rumors and Reaffirms Well Capitalized Status

ITASCA, IL--(Marketwire - April 2, 2010) -  First Midwest Bank ("First Midwest"), the wholly owned subsidiary of Itasca-based First Midwest Bancorp, Inc. (NASDAQ: FMBI), today released a statement to clarify that neither First Midwest Bank nor First Midwest Bancorp, Inc. are affiliated with Melrose Park-based Midwest Banc Holdings, Inc. or Midwest Bank & Trust. First Midwest issued this statement in response to confusion and concerns raised in the market as a result of recent news articles published in the Chicago area press regarding the capital status of Midwest Banc Holdings, Inc.

First Midwest's capital position remains well above the levels required to be considered "well capitalized" under regulatory standards which is the highest capital rating category that a financial institution can attain. In fact, on January 20, 2010 First Midwest Bancorp, Inc. successfully concluded a $207 million common stock offering which resulted in net proceeds of $196 million to the company.

First Midwest Bank is the premier relationship-based banking franchise in the growing Chicagoland banking market. As one of the Chicago metropolitan area's largest independent banking companies, First Midwest provides the full range of both business and retail banking and trust and investment management services through some 100 offices located in 63 communities, primarily in metropolitan Chicago.

Contact Information

  • CONTACT:
    Brian O'Meara
    EVP and Marketing Director
    (630) 875-7260
    www.firstmidwest.com

    First Midwest Bank
    One Pierce Place, Suite 1500
    Itasca, Illinois 60143
    (630) 875-7450