8-K

	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): April 23, 2010 First Midwest Bancorp, Inc. (Exact name of registrant as specified in its charter)
	Delaware (State or other jurisdiction of Incorporation)	0-10967 (Commission File Number)	36-3161078 (IRS Employer Identification No.)
	One Pierce Place, Suite 1500, Itasca, Illinois (Address of principal executive offices)			60143 (Zip Code)
	(630) 875-7450 (Registrant's telephone number, including area code) N/A (Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: oWritten communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) oSoliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) oPre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) oPre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

FIRST MIDWEST BANCORP, INC.

FORM 8-K

April 28, 2010

Item 8.01. Other Events

On Friday, April 23, 2010 First Midwest Bancorp, Inc. (“FMBI”) announced that its wholly-owned subsidiary First Midwest Bank (“First Midwest”) acquired certain deposits and assets of Peotone, Illinois-based Peotone Bank and Trust Company (“Peotone Bank”) in a transaction facilitated by the Federal Deposit Insurance Corporation (“FDIC”).  Through this transaction, First Midwest assumed approximately $84 million in deposits and purchased approximately $91 million in assets based on financial data as of March 31, 2010. First Midwest entered into a loss sharing agreement with the FDIC which will cover approximately $56 million of the acquired assets and protect First Midwest from 80% of the net losses on the covered assets.   First Midwest expects to realize an after-tax gain of approximately $2 million on the transaction.

The former Peotone Bank had two locations in the western suburbs of Chicago (200 West Corning Avenue, Peotone, Illinois and 5601 Monee Manhattan Road, #111, Monee, Illinois), both of which will operate as branches of First Midwest.  These branches will enhance First Midwest’s footprint in Will County and strengthen the company’s suburban Chicago franchise.

A copy of the press release issued by First Midwest regarding the transactions is attached as Exhibit 99.1 and is incorporated into this Item 8.01 by reference.

Financial Statements and Exhibits.

99.1                           First Midwest Press Release dated April 23, 2010

SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused
this report to be signed on its behalf by the undersigned thereunto duly authorized.
	First Midwest Bancorp, Inc.
	(Registrant)
Date: April 28, 2010	/s/ CYNTHIA A. LANCE
	By:  Cynthia A. Lance Executive Vice President and Corporate Secretary

EX-99.1

					News Release
		First Midwest Bancorp, Inc.			First Midwest Bancorp, Inc. One Pierce Place, Suite 1500 Itasca, Illinois 60143-9768 (630) 875-7450
	FOR IMMEDIATE RELEASE			CONTACT:	Brian O’Meara (Media)
					EVP, Marketing
					First Midwest Bank
					(630) 875-7260
					Paul F. Clemens (Investors)
					EVP, Chief Financial Officer
					(630) 875-7347
	TRADED:		NASDAQ Global Select Market		www.firstmidwest.com
	SYMBOL:		FMBI
FIRST MIDWEST BANK ACQUIRES PEOTONE BANK AND TRUST COMPANY

ITASCA, IL, APRIL 23, 2010 – (NASDAQ NGS: FMBI) First Midwest Banktoday announced that it acquired certain deposits and loans of Peotone Bank and Trust Company, Peotone, Illinois at the close of business today in a transaction facilitated by the Federal Deposit Insurance Corporation (“FDIC”).  First Midwest Bank is a wholly owned subsidiary of First Midwest Bancorp, Inc. (“First Midwest” or the “Company”).

“I want to assure all Peotone Bank and Trust Company customers and the surrounding communities of Peotone and Monee that the deposits and business affairs of the former Peotone Bank and Trust Company are in safe and secure hands,” said Michael L. Scudder, President and Chief Executive Officer of First Midwest. “Although we are new to Peotone, we have been the bank of choice in nearby communities for decades. More than one quarter million families and twenty five thousand businesses put their trust in us everyday. We look forward to working side by side with our new colleagues from Peotone Bank to answer any questions customers may have.”

The former Peotone Bank and Trust Company branches located at 200 West Corning Avenue and 5601 Monee Manhattan Road will re-open on Saturday, April 24, 2010, under the First Midwest Bank name with normal branch hours.  Peotone Bank and Trust Company customers can continue to access their accounts as usual through ATMs, checks and debit cards.  The entire network of First Midwest Bank branches and ATMs will be available to Peotone Bank and Trust Company customers following the necessary consolidation of bank operating systems.

Customers who have questions about the transaction can call the FDIC Call Center toll-free at 1.800.517.1839.  The phone number is operational this evening until 9:00 p.m. Central Time; on Friday and Saturday from 9:00 a.m. to 6:00 p.m. Central Time; on Sunday from noon to 6:00 p.m. Central Time and, thereafter, from 8:00 a.m. to 8:00 p.m. Central Time.  Information is also available from the FDIC’s website at www.fdic.gov.

First Midwest Bank was selected to complete this transaction through a competitive bidding process.  Peotone Bank and Trust Company had approximately $130 million in deposits at March 31, 2010.  First Midwest Bank entered into a loss-share transaction with the FDIC providing First Midwest Bank with protection from the FDIC for loan losses.

First Midwest is the premier relationship-based banking franchise in the growing Chicagoland banking market.  As one of the Chicago metropolitan area’s largest independent bank holding companies, First Midwest provides the full range of both business and retail banking and trust and investment management services through some 100 offices located in 64 communities, primarily in metropolitan Chicago.

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