First Midwest Bancorp, Inc. Declares First Quarter Dividend of $0.01 per Share

| Source: First Midwest Bancorp, Inc. First Midwest Bancorp, Inc.

ITASCA, IL--(Marketwire - February 24, 2011) - First Midwest Bancorp, Inc. (the "Company" or "First Midwest") (NASDAQ: FMBI), the holding company of First Midwest Bank, today announced that the Board of Directors has declared a quarterly common stock dividend of $0.01 per share, payable Tuesday, April 12, 2011 to shareholders of record on Friday, March 25, 2011.

First Midwest is the premier relationship-based banking franchise in the growing Chicagoland banking market. As one of the Chicago metropolitan area's largest independent bank holding 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 65 communities, primarily in metropolitan Chicago. First Midwest was recently recognized by the Chicago Tribune as one of the top 20 best places to work in Chicago among large employers.

Contact Information:

CONTACT:
Paul F. Clemens
EVP, Chief Financial Officer
(630) 875-7347
www.firstmidwest.com

First Midwest Bancorp, Inc.
One Pierce Place, Suite 1500
Itasca, Illinois 60143-9768
(630) 875-7450