SOURCE: First Midwest Bancorp, Inc.

January 17, 2006 12:43 ET

First Midwest Completes Acquisition of Randall Road Branch in Carpentersville, Illinois

ITASCA, IL -- (MARKET WIRE) -- January 17, 2006 -- First Midwest Bancorp, Inc. (NASDAQ: FMBI) today announced it had completed its purchase of the Elgin State Bank branch located at 2250 Randall Road in Carpentersville, Illinois. First Midwest now operates 70 offices in Illinois and eastern Iowa, with most of those offices located in the suburbs of Chicago.

"We are extremely pleased to better serve the outstanding banking markets of Kane County," said John O'Meara, President and Chief Executive Officer of First Midwest Bancorp. "With the acquisition of this branch, First Midwest extends its McHenry County base in the northern Fox River Valley. We look forward to serving that area's growing market for retail business and expanding our already significant business presence along the Interstate 90 corridor."

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements in this news release that are forward-looking statements are subject to various risks and uncertainties, including those factors described in First Midwest's 2004 Form 10-K and other filings with the U.S. Securities and Exchange Commission. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. First Midwest does not intend to update this information and disclaims any legal obligation to the contrary. Historical information is not necessarily indicative of future performance.

First Midwest is the premier relationship-based banking franchise in the growing Chicagoland banking markets. 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 70 offices located in 50 communities, primarily in northeastern Illinois. First Midwest was the only bank honored by Chicago magazine as one of the 25 best places to work in Chicago.

Contact Information

    Steven H. Shapiro
    Corporate Secretary
    (630) 875-7345

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