ITASCA, Ill., Nov. 21 /PRNewswire-FirstCall/ --
First Midwest Bancorp, Inc. (Nasdaq: FMBI) today announced an increase in the
quarterly cash dividend on its common stock. The new quarterly cash dividend
of $0.19 per share, up 12% from the previous $0.17 will be payable on
January 21, 2003 to shareholders of record on December 27, 2002.
"Our solid performance in 2002 has enabled us to continue to share the
Company's success with shareholders in the form of the increased dividend,"
stated John M. O'Meara, President and soon to be CEO of First Midwest. The
increase in the quarterly dividend indicates a new annual rate of $0.76 per
share and represents the eleventh increase in cash dividends declared in the
past ten years. First Midwest has paid dividends every quarter since its
formation in 1983.
With assets of approximately $6 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 banking company, First Midwest provides commercial banking,
trust, investment management and related financial services to a broad array
of customers through some 70 offices located in more than 40 communities
primarily in northern Illinois.
Safe Harbor Statement
Statements made in this Press Release which are not purely historical are
forward-looking statements with respect to the goals, plan objectives,
intentions, expectations, financial condition, results of operations, future
performance and business of First Midwest, including, without limitation, (i)
loan and deposit growth, net interest income and margin, wholesale funding
sources, provision and reserve for loan losses, nonperforming loan levels and
net charge-offs, noninterest income and expenses, diluted earnings per share
growth rates for 2002, and dividends to shareholders, and (ii) statements
preceded by, followed by or that include the words "may", "would", "could",
"should", "can", "will", "expects", "projects", "anticipates", "believes",
"estimates", "plans", "intends", "targets" or similar expressions.
Forward-looking statements involve inherent risks and uncertainties, and
important factors (many of which are beyond First Midwest's control) that
could cause actual results to differ materially from those set forth in the
forward-looking statements, including the following, in addition to those
contained in First Midwest's reports on file with the Securities and Exchange
Commission: general economic or industry conditions, nationally and/or in the
communities in which First Midwest conducts business, changes in the interest
rate environment, conditions of the securities markets, prepayment speeds,
deposit flows, cost of funds, demand for loan products, demand for financial
services, competition, changes in the quality or composition of First
Midwest's loan and investment portfolios, legislation or regulatory
requirements, changes in accounting principals, policies or guidelines,
financial or political instability, acts of war or terrorism, other economic,
competitive, governmental, regulatory and technical factors affecting First
Midwest's operations, products, services and prices.
Accordingly, results actually achieved may differ materially from expected
results in these statements. Forward-looking statements speak only as of the
date they are made. First Midwest does not undertake, and specifically
disclaims, any obligation to update any forward-looking statements to reflect
events or circumstances occurring after the date of such statements.
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:
Barbara E. Briick of First Midwest Bancorp,
+1-630-875-7459
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