ITASCA, Ill., April 15 /PRNewswire-FirstCall/ --
First Midwest Bancorp, Inc. (Nasdaq: FMBI) announced today it had signed an
agreement to acquire the branch of The Northern Trust Company, a subsidiary of
Northern Trust Corporation (Nasdaq: NTRS), located at 8501 West Higgins Road,
Chicago, IL. The terms of the transaction were not disclosed.
"The Higgins branch is an ideal fit for us, as one of the largest banking
companies in the Chicago area, and the branch is very well positioned to
enable us to continue to provide full services to our clients," said John
O'Meara, President and Chief Executive Officer of First Midwest Bancorp.
First Midwest Bancorp expects to complete the acquisition of the branch in
June, 2003, subject to regulatory approval.
With assets of approximately $6.0 billion, First Midwest is the largest
independent and one of the overall largest banking companies in the highly
attractive suburban Chicago banking market. As the premier independent
suburban Chicago bank holding company, First Midwest provides commercial
banking, trust, investment management and related financial services to a
broad array of customers through 70 offices located in more than 40
communities primarily in northern Illinois.
Safe Harbor Statement under the Private Securities Act of 1995: Statements
in this news release that are forward-looking statements are subject to
various risks and uncertainties concerning specific factors described in First
Midwest Bancorp's 2002 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.
SOURCE First Midwest Bancorp, Inc.
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Related links:
http://www.firstmidwest.com
Company News On-Call:
http://www.prnewswire.com/comp/122621.html
CONTACT:
Steven H. Shapiro of First Midwest Bancorp,
+1-630-875-7345
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