SOURCE: Midwest Banc Holdings, Inc.

May 14, 2008 17:35 ET

Midwest Banc Holdings, Inc. Announces Board Changes

MELROSE PARK, IL--(Marketwire - May 14, 2008) - Midwest Banc Holdings, Inc. (NASDAQ: MBHI) announced the retirement of its longstanding and well-respected director Leon Wolin and acknowledged his service to the company at the Annual Shareholders' Meeting on May 7, 2008. During this meeting Midwest also introduced new board member Dennis O'Hara and the shareholders elected Percy L. Berger to the board of directors.

"Leon has been an original shareholder of Midwest since 1959," said Homer Livingston, recently appointed chairman of the board. "He has been a supportive and active director and remains a valued customer, shareholder, business colleague and most importantly friend to our board, our company and our shareholders."

Mr. Wolin joined the board of directors of Midwest Bank and Trust Company f/k/a Illinois State Bank of Chicago in 1985 and the board of directors of Midwest Banc Holdings, Inc. in 1991. As a director he served faithfully as chairman of the compensation committee, past chairman and member of the audit committee, and member of the loan, buildings, and corporate governance and nominating committees. Mr. Wolin consulted and negotiated various lease and building contracts for Midwest and advised, counseled and inspected countless in-market real estate projects. Mr. Wolin has been president of Price Associates, Inc., a real estate appraisal and consulting firm, since 1980. Mr. Wolin has been president of Union Health Services since 2000. Midwest has benefited from the commitment and contributions of Mr. Wolin for the past seventeen years.

Dennis O'Hara, CPA was introduced having joined the board on October 1, 2007 as a former director of Northwest Suburban Bancorp, Inc. Mr. O'Hara has over 40 years of experience in public accounting and is a member of the Illinois Society of Certified Public Accountants and The American Institute of Certified Public Accountants.

Percy L. Berger, CPA was elected to the board at the Annual Shareholders' Meeting on May 7, 2008. Mr. Berger will serve on the compensation committee and the corporate governance and nominating committee.

"We are pleased to have Percy join our board," said Livingston. "Percy's business and boardroom experience and his knowledge of the Chicago market place are a tremendous asset and will be invaluable to us as we continue to grow our bank."

Mr. Berger is the founder and managing partner of Dempster Group, a middle-market private equity investment firm. He is chairman of the board and chief executive officer of NEATT Wireless, LLC, a regional wireless telecommunications company. Mr. Berger founded Green Leaf Ridge Company, a private equity investment firm in 1998. Mr. Berger is a former vice chairman and director of Dynix.com. He also served as a director of PrimeCo Wireless Communication, LLC. He is currently a director of Chicago's Lincoln Park Zoo and Evanston Northwestern Healthcare. Mr. Berger was managing director, senior vice president and senior client manager at Bank of America and served in progressively increasing capacities as a corporate banker at Continental Bank, Wells Fargo Bank, and Chemical Bank (now JPMorgan Chase) during his banking career. Mr. Berger is a member of the Illinois Society of Certified Public Accountants and The American Institute of Certified Public Accountants.

Midwest Banc Holdings, Inc., with $3.7 billion in assets, provides a wide range of retail and commercial banking services, personal and corporate trust services, securities services and insurance brokerage services in the greater Chicago area. Midwest has 29 banking offices and operates 31 ATMs. On January 1, 2008, Midwest joined the STAR Allpoint/STARsf network. Midwest customers now have access to 32,000 surcharge-free Allpoint/STARsf ATMs nationwide, with over 1,000 ATMs in the Chicagoland area. The principal operating subsidiaries of Midwest Banc Holdings, Inc. are Midwest Bank and Trust Company and Midwest Financial and Investment Services, Inc.

Information on Midwest's products and services and locations is available at www.midwestbanc.com.

Contact Information

  • For further information:
    John B. Pelling, III
    Vice President - Investor Relations
    (708) 498-2013
    Email Contact