First Midwest Bancorp

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First Midwest plans downtown facility

First Midwest Bank, which has grown into one of the area’s biggest banks without a presence in downtown Chicago, confirmed that it plans to set up shop for the first time in the city’s central business district.

The bank told the Tribune that it plans to open an office in a LaSalle Street building in the Loop in early April. It’s not divulging the address until a lease for the property, which has 3,500 to 4,000 square feet, is signed, which should occur “shortly,” a bank spokesman said. The office will handle commercial banking, cash management and trust services, he said. Get the full story »

First Midwest Bancorp names new director

First Midwest Bancorp Inc., the $8.38 billion-asset parent of First Midwest Bank, has named Amcol International Chief Executive Lawrence Washow to its board of directors. Get the full story »

First Midwest stock hit as 3Q results come up short

First Midwest Bancorp Inc., the $8.38 billion-asset parent of First Midwest Bank, missed Wall Street’s expectations for its third-quarter results, sending the Itasca-based lender’s shares down 13.7 percent in mid-afternoon trading.

By some measures, credit trends took a turn for the worse. Get the full story »

U.S. FDIC says Palos Bank and Trust Co. closed

U.S. regulators on Friday closed Palos Bank and Trust Company in Illinois, the Federal Deposit Insurance Corp said, marking the 110th U.S. bank failure so far this year and the 14th in Illinois.

The FDIC said Palos Bank and Trust Company had $493.4 million in assets. First Midwest Bank of Itasca, Illinois, will assume the deposits of the failed institution. Get the full story »

FirstMerit says it’s mostly focused on integration

FirstMerit Bank, which over the past year has entered the Chicago market through three acquisitions, said it is continuing to keep its eyes open for deals, but that its main focus right now is integrating its operations. Get the full story »