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FIRST MIDWEST BANCORP INC

No Longer Reporting

The company has not filed an annual or quarterly report since its Q3 FY2021 10-Q, filed Oct 27, 2021. Its latest SEC filing is a SC 13G/A from Feb 14, 2023.

The sections below describe the company as of the FY2020 annual report.

What Did They Do?

Provides banking, lending, and wealth management services to businesses, residents, and institutions across its Midwestern markets.

How Did They Make Money?

revenue

Who Were Their Customers?

Businesses and residents use the bank's locations and online and mobile channels for deposits and loans; individuals and institutions also receive wealth-management services.

Did Revenues Turn Into Profits?

Yes. It kept 17 cents of every revenue dollar as net income in .

Net income,
17% of revenue
▼ −46% vs ($199.7M, 29%)

How Were They Changing?

Since the FY2020 annual report
Latest quarter: Q3 FY2021, the three months to Sep 30, 2021
Revenue
▼ −3%
vs $159.1M in Q3 FY2020
Net income
▲ +99%
vs $27.6M in Q3 FY2020
  • Feb 16, 2022 Completed merger with Old National First Midwest ceased to exist as a separate company, and First Midwest Bank merged into Old National Bank.
  • Jun 1, 2021 Announced an all-stock merger with Old National Old National would survive, and the combined organization would operate under the Old National Bancorp and Old National Bank names.

Grew. Revenue grew 72% in 4 years, from $378.3M in to $651.3M in , about 15% a year.

Broader commercial lending The older report described commercial and industrial lending mainly to middle-market businesses in Chicago; the latest also covers small businesses and eligible borrowers outside its primary markets.

Expanded geographic reach The latest report includes southeastern Wisconsin among its markets; the older description named northwestern Indiana and eastern Iowa alongside Illinois markets.

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