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) July 24, 2013

First Midwest Bancorp, Inc.

(Exact name of registrant as specified in its charter)

Delaware	0-10967	36-3161078
(State or other jurisdiction	(Commission	(IRS Employer
of Incorporation)	File Number)	Identification No.)

One Pierce Place, Suite 1500, Itasca, Illinois	60143
(Address of principal executive offices)	(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))

Item 2.02 Results of Operations and Financial Condition

On July 24, 2013, First Midwest Bancorp, Inc. (the “Company”) issued a press release announcing its earnings results for the quarter and six months ended June 30, 2013. This press release, dated July 24, 2013, is attached as Exhibit 99.1 to this report.

Item 7.01 Regulation FD Disclosure

On July 24, 2013, the Company also made the information attached hereto as Exhibit 99.2 available via its website at www.firstmidwest.com/aboutinvestor_selected.asp.

The information set forth in this Current Report on Form 8-K (including the information in Exhibits 99.1 and 99.2 attached hereto) is being furnished to the Securities and Exchange Commission and is not deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (“the Exchange Act”), or otherwise subject to the liabilities of that section. Such information shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits:

99.1	Press Release issued by First Midwest Bancorp, Inc. dated July 24, 2013
99.2	First Midwest Bancorp, Inc. Selected Financial Information

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: July 24, 2013	/s/ NICHOLAS J. CHULOS
	By:  Nicholas J. Chulos
	Executive Vice President, Corporate Secretary, and General Counsel

2

EX-99.1

Exhibit 99.1

			News Release
	First Midwest Bancorp, Inc.		First Midwest Bancorp, Inc. One Pierce Place, Suite 1500 Itasca, Illinois 60143-9768 (630) 875-7450 www.firstmidwest.com
FOR IMMEDIATE RELEASE
CONTACT:		Paul F. Clemens (Investors) EVP and Chief Financial Officer (630) 875-7347 paul.clemens@firstmidwest.com	James M. Roolf (Media) SVP and Corporate Relations Officer (630) 875-7533 jim.roolf@firstmidwest.com
TRADED:		NASDAQ Global Select Market
SYMBOL:		FMBI

FIRST MIDWEST BANCORP, INC. ANNOUNCES
2013 SECOND QUARTER RESULTS

Increased Earnings - Higher Dividends -

Strong Loan Growth - Lower Noninterest Expense

ITASCA, IL, July 24, 2013 — Today, First Midwest Bancorp, Inc. (the “Company” or “First Midwest”) (NASDAQ NGS: FMBI), the holding company of First Midwest Bank (the “Bank”), reported results of operations and financial condition for the second quarter of 2013. Net income applicable to common shares for the second quarter of 2013 was $16.0 million, or $0.22 per share. This compares to $14.4 million, or $0.20 per share, for the first quarter of 2013 and $6.3 million, or $0.09 per share, for the second quarter of 2012.

“As we reach mid-year, business momentum continues to build,” said Michael L. Scudder, President and Chief Executive Officer of First Midwest Bancorp, Inc. “Earnings improved by 10% from last quarter and represented the third consecutive quarter of double digit earnings growth. Strong performance was evident across all of our business lines and, along with an improved credit profile and controlled spending, drove solid corporate loan growth, increased fee-based revenues, and lower overhead.”

Mr. Scudder concluded, “Our growing momentum, ample capital, and engaged team are significant advantages as we look to expand our business and benefit from market opportunities.”

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SELECT HIGHLIGHTS

Business Momentum

·Earnings per share grew 10% to $0.22 per share compared to $0.20 per share for the first quarter of 2013 and increased by 144% from $0.09 per share in the second quarter of 2012.

·Total loans of $5.3 billion increased by $112.3 million, or 9% annualized, from March 31, 2013 largely led by growth in the commercial and industrial and agricultural portfolios.

·Net interest margin of 3.70% is consistent with the first quarter of 2013 after adjusting for the impact of $142.8 million of average growth in seasonal public fund balances.

·Fee-based revenues remained strong at $26.0 million, consistent with the first quarter of 2013 and up 10% from the second quarter of 2012.

·Noninterest expense totaled $62.4 million, down 4% from the first quarter of 2013.

Improving Credit and Strengthening Capital

·Non-performing loans decreased almost 10% to $93.0 million compared to March 31, 2013 and 55% compared to June 30, 2012.

·Net loan charge-offs, excluding $2.0 million of covered loan charge-offs, totaled $7.3 million, consistent with the first quarter of 213 and down from $20.1 million for the second quarter of 2012.

·Tier 1 common capital to risk-weighted assets remained strong at 9.69% as of June 30, 2013, a 7 basis point improvement from March 31, 2013.

·Dividends declared on common stock were $0.04 per share, an increase of 300% from the first quarter of 2013.

Operating Performance Highlights

(Dollar amounts in thousands)

	Quarters Ended
	June 30, 2013			March 31, 2013			June 30, 2012
Net income	$	16,176		$	14,642		$	6,365
Net income applicable to common shares	$	15,957		$	14,430		$	6,289
Diluted earnings per common share	$	0.22		$	0.20		$	0.09
Return on average common equity	6.66		%	6.17		%	2.59		%
Return on average assets	0.79		%	0.74		%	0.32		%
Net interest margin	3.70		%	3.77		%	3.88		%
Efficiency ratio	64.27		%	66.50		%	60.56		%
Loans, excluding covered loans	$	5,287,565		$	5,175,271		$	5,298,026
Average transactional deposits (1)	$	5,464,858		$	5,244,755		$	5,080,730
Average assets	$	8,259,653		$	8,071,301		$	8,113,742
Average equity	$	960,501		$	948,060		$	977,054

(1) Comprised of demand deposits and interest-bearing transactional accounts.

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SIGNIFICANT SECOND QUARTER EVENT

During the second quarter of 2013, the Board of Directors approved a 300% increase in the quarterly cash dividend to $0.04 per common share. This represents the 122nd consecutive dividend declared by the Company since it became publicly traded in 1983.

OPERATING PERFORMANCE

Pre-Tax, Pre-Provision Operating Earnings (1)

(Dollar amounts in thousands)

	Quarters Ended
	June 30, 2013			March 31, 2013		June 30, 2012
Income before income tax expense	$	24,131		$	20,935	$	7,126
Adjustments:
Provision for loan and covered loan losses	5,813			5,674		22,458
Net securities gains	(216		)	—		(151		)
Net (gains) losses on sales and valuation adjustments of other real estate owned (“OREO”)	(288		)	781		2,527
Adjusted amortization of FDIC indemnification asset	750			750		—
Severance-related costs	511			980		—
Pre-tax, pre-provision operating earnings	$	30,701		$	29,120	$	31,960

(1)The Company’s accounting and reporting policies conform to U.S. generally accepted accounting principles (“GAAP”) and general practices within the banking industry. As a supplement to GAAP, the Company provided this non-GAAP performance result, which the Company believes is useful because it assists investors in evaluating the Company’s operating performance. This non-GAAP financial measure should not be considered an alternative to GAAP.

Pre-tax, pre-provision operating earnings of $30.7 million for the second quarter of 2013 increased 5.4% from the first quarter of 2013 and decreased 3.9% from the second quarter of 2012. Compared to the quarter ended March 31, 2013, the increase resulted from higher net interest income and a reduction in noninterest expense primarily from lower compensation expense.

The decline in pre-tax, pre-provision operating earnings from the second quarter of 2012 resulted from a reduction in net interest income and a rise in noninterest expense, which was substantially offset by growth in noninterest income.

Further discussion of net interest income and noninterest income and expense is presented in later sections of this release.

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Net Interest Income and Margin Analysis

(Dollar amounts in thousands)

	Quarters Ended
	June 30, 2013						March 31, 2013						June 30, 2012
	Average Balance			Interest Earned/Paid		Yield/ Rate (%)	Average Balance			Interest Earned/Paid		Yield/ Rate (%)	Average Balance			Interest Earned/Paid		Yield/ Rate (%)
Assets:
Other interest-earning assets	$	674,849		$	468	0.28	$	584,170		$	434	0.30	$	432,036		$	258	0.24
Trading securities	15,610			24		0.61	14,357			36		1.00	16,090			26		0.65
Investment securities (1)	1,256,813			10,164		3.23	1,175,063			9,940		3.38	1,238,767			11,172		3.61
Federal Home Loan Bank and Federal Reserve Bank stock	40,998			342		3.34	47,232			339		2.87	46,750			354		3.03
Loans (1)(2)	5,383,891			63,829		4.76	5,372,034			63,450		4.79	5,511,085			67,032		4.89
Total interest-earning assets (1)	7,372,161			74,827		4.07	7,192,856			74,199		4.18	7,244,728			78,842		4.37
Cash and due from banks	124,996						110,073						122,165
Allowance for loan and covered loan losses	(98,006		)				(99,086		)				(122,723		)
Other assets	860,502						867,458						869,572
Total assets	$	8,259,653					$	8,071,301					$	8,113,742
Liabilities and Stockholders’ Equity:
Interest-bearing transaction deposits	$	3,584,382		810		0.09	$	3,503,930		892		0.10	$	3,282,876		913		0.11
Time deposits	1,331,499			2,193		0.66	1,374,529			2,428		0.72	1,548,410			3,765		0.98
Borrowed funds	204,449			385		0.76	199,891			442		0.90	195,934			490		1.01
Senior and subordinated debt	214,828			3,435		6.41	214,796			3,435		6.49	231,123			3,646		6.34
Total interest-bearing liabilities	5,335,158			6,823		0.51	5,293,146			7,197		0.55	5,258,343			8,814		0.67
Demand deposits	1,880,476						1,740,825						1,797,854
Total funding sources	7,215,634						7,033,971						7,056,197
Other liabilities	83,518						89,270						80,491
Stockholders’ equity - common	960,501						948,060						977,054
Total liabilities and stockholders’ equity	$	8,259,653					$	8,071,301					$	8,113,742
Net interest income/margin (1)				$	68,004	3.70				$	67,002	3.77				$	70,028	3.88

(1)Interest income and yields on tax-exempt securities and loans are presented on a tax-equivalent basis, assuming a federal income tax rate of 35%. This non-GAAP financial measure assists management in comparing revenue from both taxable and tax-exempt sources. The corresponding income tax impact related to tax-exempt items is recorded within income tax expense. These adjustments have no impact on net income.

(2)Includes covered interest-earning assets consisting of loans acquired through the Company’s Federal Deposit Insurance Corporation (“FDIC”)-assisted transactions subject to loss sharing agreements and the related FDIC indemnification asset.

Compared to March 31, 2013, the $179.3 million increase in total interest-earning assets was driven by growth in other interest-earning assets, investment securities, and the loan portfolio. Total interest-bearing liabilities increased from March 31, 2013 due to a rise in interest-bearing transaction deposits, which more than offset the decline in time deposits and resulted in a more favorable funding mix. Overall, funding sources increased in the second quarter of 2013 from the impact of $142.8 million of average growth in seasonal public fund balances.

Total interest-earning assets grew by $127.4 million from the second quarter of 2012 from an increase in other interest-earning assets and investment securities, which mitigated the decline in average loans primarily resulting from the bulk loan sales completed in the fourth quarter of 2012. The increase in total interest-bearing liabilities was driven by higher levels of interest-bearing transaction deposits, which more than offset the decline in time deposits and resulted in a more favorable funding mix.

Tax-equivalent net interest margin for the current quarter was 3.70%, declining 7 basis points compared to the first quarter of 2013 and 18 basis points from the second quarter of 2012. These decreases were driven by the continued repricing of maturing investment securities, which was mitigated by a reduction in rates paid on borrowed funds and a shift from higher paying time deposits to lower paying deposit products. In addition, the tax-equivalent net interest margin was reduced by 7 basis points from March 31, 2013 as a result of investing excess cash from seasonal deposit growth into other interest-earning assets.

4

Noninterest Income Analysis

(Dollar amounts in thousands)

	Quarters Ended							June 30, 2013 Percent Change From
	June 30, 2013		March 31, 2013		June 30, 2012			March 31, 2013		June 30, 2012
Service charges on deposit accounts	$	9,118	$	8,677	$	8,848		5.1		3.1
Card-based fees	5,547		5,076		5,312			9.3		4.4
Wealth management fees	6,126		5,839		5,394			4.9		13.6
Mortgage banking income	1,040		1,966		—			(47.1	)	100.0
Merchant servicing fees	2,899		2,554		2,908			13.5		(0.3	)
Other service charges, commissions, and fees	1,278		1,646		1,189			(22.4	)	7.5
Total fee-based revenues	26,008		25,758		23,651			1.0		10.0
Other income	1,003		781		810			28.4		23.8
Net trading gains (1)	214		1,036		(575		)	(79.3	)	N/M
Net securities gains	216		—		151			100.0		43.0
Total noninterest income	$	27,441	$	27,575	$	24,037		(0.5	)	14.2

N/M — Not meaningful.

(1)Net trading gains result from changes in the fair value of diversified investment securities held in a grantor trust under deferred compensation agreements and are substantially offset by nonqualified plan expense for each period presented.

Fee-based revenues of $26.0 million for the second quarter of 2013 remained strong and were consistent with the first quarter of 2013. Excluding mortgage banking income, fee-based revenues increased by 4.9%, driven by growth in wealth management fees from new customer relationships and a rise in service charges on business accounts. In addition, higher card-based fees and merchant fees resulting from increased transaction volumes from seasonal customer activities contributed to the growth. Total fee-based revenues were impacted by a decrease in gains on mortgage loans sales. While new mortgage loan volume was consistent with the prior quarter, mortgage loan sales totaled $28.0 million in the second quarter of 2013 compared to $54.0 million in the first quarter of 2013, impacted by market conditions and timing.

Compared to the second quarter of 2012, total fee-based revenues for the second quarter of 2013 increased 10.0%, primarily from growth in wealth management fees across all service offerings, gains on mortgage loan sales, and fee income generated by derivative transactions.

5

Noninterest Expense Analysis

(Dollar amounts in thousands)

	Quarters Ended								June 30, 2013 Percent Change From
	June 30, 2013			March 31, 2013		June 30, 2012			March 31, 2013		June 30, 2012
Salaries and wages (1)(2)	$	26,553		$	27,839	$	24,446		(4.6	)	8.6
Nonqualified plan expense (2)(3)	267			1,124		(594		)	(76.2	)	N/M
Retirement and other employee benefits (1)	6,101			7,606		5,714			(19.8	)	6.8
Total compensation expense	32,921			36,569		29,566			(10.0	)	11.3
Net (gains) losses on OREO sales and valuation adjustments	(288		)	781		2,527			N/M		N/M
Net OREO operating expense	1,372			1,018		1,597			34.8		(14.1	)
Net OREO expense	1,084			1,799		4,124			(39.7	)	(73.7	)
Loan remediation costs	2,547			2,139		3,594			19.1		(29.1	)
Other professional services (1)	3,048			3,079		3,311			(1.0	)	(7.9	)
Total professional services	5,595			5,218		6,905			7.2		(19.0	)
Net occupancy and equipment expense	7,793			8,147		7,513			(4.3	)	3.7
Technology and related costs	2,884			2,483		2,851			16.1		1.2
FDIC premiums	1,704			1,742		1,659			(2.2	)	2.7
Advertising and promotions (4)	2,033			1,410		1,032			44.2		97.0
Merchant card expense (4)	2,321			2,044		2,324			13.6		(0.1	)
Cardholder expenses (4)	1,043			929		980			12.3		6.4
Adjusted amortization of FDIC indemnification asset	750			750		—			N/M		100.0
Other expenses (4)	4,299			3,723		4,203			15.5		2.3
Total noninterest expense	$	62,427		$	64,814	$	61,157		(3.7	)	2.1

N/M — Not meaningful.

(1)	In the second quarter of 2013, the Company recorded a $511,000 charge for severance-related costs of which, $443,000 is included in salaries and wages. For the first quarter of 2013, $811,000 of $980,000 in severance-related costs was included in salaries and wages.
(2)	These expenses are included in salaries and wages in the Condensed Consolidated Statements of Income.
(3)	Nonqualified plan expense results from changes in the Company’s obligation to participants under deferred compensation agreements.
(4)	These expenses are included in other expenses in the Condensed Consolidated Statements of Income.

Total noninterest expense for the second quarter of 2013 decreased nearly 4% compared to the first quarter of 2013 and increased by 2% compared to the second quarter of 2012.

The decrease in salaries and wages compared to the first quarter of 2013 was driven primarily from a reduction in severance-related costs and higher levels of deferred salaries from new loan growth. Salaries and wages in the second quarter of 2013 were higher than the second quarter of 2012 due to annual merit and incentive compensation increases, severance expense, and a reduction in deferred salaries.

Compared to the first quarter of 2013, retirement and other employee benefits decreased primarily as a result of revised retirement expense estimates and a decrease in FICA taxes and insurance costs.

OREO expenses decreased compared to both prior periods presented mainly from a reduction in valuation adjustments.  In addition, net gains on sales of OREO properties were realized in the second quarter of 2013 compared to net losses on sales during both prior periods.

Loan remediation costs increased from the first quarter of 2013 due to higher legal expenses and real estate taxes paid to preserve the Company’s rights to collateral associated with problem loans. Compared to the second quarter of 2012, loan

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remediation costs decreased almost 30% as a result of improved credit quality driven by management’s accelerated credit remediation actions in the third and fourth quarters of 2012, including the bulk loan sales. These actions resulted in lower legal expense.

Advertising and promotions expense rose in the second quarter of 2013 compared to both prior periods presented due to the launch of our “Bank with Momentum” branding campaign.

Adjusted amortization of the FDIC indemnification asset results from changes in the timing and amount of future cash flows expected to be received from the FDIC under loss sharing agreements based on management’s periodic estimates of future cash flows on covered loans.

A $500,000 reduction in the reserve for unfunded commitments in the first quarter of 2013 resulted in lower other expenses compared to the second quarter of 2013.

LOAN PORTFOLIO AND ASSET QUALITY

Loan Portfolio Composition

(Dollar amounts in thousands)

	As Of						June 30, 2013 Percent Change From
	June 30, 2013		March 31, 2013		June 30, 2012		March 31, 2013		June 30, 2012
Corporate
Commercial and industrial	$	1,743,139	$	1,659,872	$	1,597,427	5.0		9.1
Agricultural	288,632		274,991		272,742		5.0		5.8
Commercial real estate:
Office	449,641		465,279		495,901		(3.4	)	(9.3	)
Retail	383,447		385,413		375,078		(0.5	)	2.2
Industrial	486,761		493,564		520,150		(1.4	)	(6.4	)
Multi-family	306,182		298,117		308,250		2.7		(0.7	)
Residential construction	50,384		54,032		88,908		(6.8	)	(43.3	)
Commercial construction	117,116		122,210		147,626		(4.2	)	(20.7	)
Other commercial real estate	759,367		743,076		817,071		2.2		(7.1	)
Total commercial real estate	2,552,898		2,561,691		2,752,984		(0.3	)	(7.3	)
Total corporate loans	4,584,669		4,496,554		4,623,153		2.0		(0.8	)
Consumer
Home equity	374,406		379,352		398,428		(1.3	)	(6.0	)
1-4 family mortgages	291,770		263,286		237,341		10.8		22.9
Installment	36,720		36,079		39,104		1.8		(6.1	)
Total consumer loans	702,896		678,717		674,873		3.6		4.2
Total loans, excluding covered loans	5,287,565		5,175,271		5,298,026		2.2		(0.2	)
Covered loans	171,861		186,687		230,047		(7.9	)	(25.3	)
Total loans	$	5,459,426	$	5,361,958	$	5,528,073	1.8		(1.2	)

Total loans, excluding covered loans, of $5.3 billion grew by $112.3 million from March 31, 2013. During the second quarter of 2013, the Company experienced annualized growth of approximately 20% in commercial and industrial (“C&I”) loans and agricultural lending, 11% in multi-family loans, and 43% in 1-4 family mortgages, which was offset by declines in the construction, office, retail, and industrial portfolios. This balanced growth continues to reflect the targeted repositioning of the loan portfolio. New mortgage loan volume was consistent with the prior quarter, and reflects the sale of $28.0 million of mortgage loans, of which $16.5 million was outstanding at March 31, 2013.

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Compared to June 30, 2012, total loans, excluding covered loans, increased nearly 3% after adjusting for the impact of the 2012 bulk loan sales. In addition to growth in C&I loans and agricultural lending, the year-over-year increase was impacted by a rise in the 1-4 family mortgage portfolio from new volume and loans acquired in an FDIC-assisted transaction during the third quarter of 2012.

Compared to both prior periods presented, strong growth in the C&I and agricultural loan categories advanced our targeted portfolio distribution efforts. In addition, sales personnel have been focused on expansion into specialized lending areas, such as agribusiness and asset-based lending, which contributed to the increases. Overall, the loan portfolio benefited from well balanced growth reflecting credits of varying size and diverse geographic locations.

Asset Quality

(Dollar amounts in thousands)

	As Of									June 30, 2013 Percent Change From
	June 30, 2013			March 31, 2013			June 30, 2012			March 31, 2013		June 30, 2012
Asset quality, excluding covered loans and covered OREO
Non-accrual loans	$	89,193		$	95,397		$	198,508		(6.5	)	(55.1	)
90 days or more past due loans	3,832			5,552			8,192			(31.0	)	(53.2	)
Total non-performing loans	93,025			100,949			206,700			(7.8	)	(55.0	)
Accruing troubled debt restructurings (“TDRs”)	8,287			2,587			7,811			N/M		6.1
OREO	39,497			39,994			28,309			(1.2	)	39.5
Total non-performing assets	$	140,809		$	143,530		$	242,820		(1.9	)	(42.0	)
30-89 days past due loans	$	21,756		$	22,222		$	23,597		(2.1	)	(7.8	)
Performing potential problem loans:
Special mention	$	115,175		$	121,789		$	209,174		(5.4	)	(44.9	)
Substandard	78,517			82,170			125,736			(4.4	)	(37.6	)
Total potential problem loans	$	193,692		$	203,959		$	334,910		(5.0	)	(42.2	)
Non-accrual loans to total loans	1.69		%	1.84		%	3.75		%
Non-performing loans to total loans	1.76		%	1.95		%	3.90		%
Non-performing assets to loans plus OREO	2.64		%	2.75		%	4.56		%
Potential problem loans to total loans	3.66		%	3.94		%	6.32		%
Allowance for Credit Losses
Allowance for loan losses	$	79,729		$	85,364		$	115,200		(6.6	)	(30.8	)
Allowance for covered loan losses	14,381			12,227			982			17.6		N/M
Total allowance for loan and covered loan losses	94,110			97,591			116,182			(3.6	)	(19.0	)
Reserve for unfunded commitments	2,866			2,866			2,500			—		14.6
Total allowance for credit losses	$	96,976		$	100,457		$	118,682		(3.5	)	(18.3	)
Allowance for credit losses to loans, including covered loans	1.78		%	1.87		%	2.15		%
Allowance for credit losses to non-accrual loans, excluding covered loans	92.60		%	92.49		%	59.29		%

N/M — Not meaningful.

Non-performing loans, excluding covered loans and covered OREO, decreased by $7.9 million from March 31, 2013, to $93.0 million at June 30, 2013. Excluding covered loans and covered OREO, non-performing assets were $140.8 million at

8

June 30, 2013 compared to $143.5 million at March 31, 2013. During the quarter, management restructured $2.1 million of loans at market rates and terms and reclassified $4.0 million of non-accruing TDRs to accruing TDR status based on the continued performance of these loans.

Compared to June 30, 2012, the significant decline in non-performing assets, excluding covered loans and covered OREO, and total potential problem loans resulted from management’s accelerated credit remediation activities, including the bulk loan sales completed during 2012.

Charge-Off Data

(Dollar amounts in thousands)

	Quarters Ended
	June 30, 2013			% of Total	March 31, 2013			% of Total	June 30, 2012			% of Total
Net loan charge-offs (1):
Commercial and industrial	$	2,448		33.5	$	996		14.6	$	5,870		29.2
Agricultural	95			1.3	90			1.3	18			0.1
Office, retail, and industrial	1,418			19.4	1,260			18.5	2,263			11.3
Multi-family	183			2.5	160			2.3	313			1.5
Residential construction	845			11.5	565			8.3	3,598			17.9
Commercial construction	—			—	(2		)	—	2,616			13.0
Other commercial real estate	218			3.0	1,505			22.0	2,934			14.6
Consumer	2,110			28.8	2,257			33.0	2,494			12.4
Net loan charge-offs, excluding covered loans	7,317			100.0	6,831			100.0	20,106			100.0
Net covered loan charge-offs (1)	1,977				698				2,434
Total net loan charge-offs	$	9,294			$	7,529			$	22,540
Net loan charge-offs to average loans, excluding covered loans, annualized:
Quarter-to-date	0.57		%		0.54		%		1.55		%
Year-to-date	0.55		%		0.54		%		1.61		%

(1) Amounts represent charge-offs, net of recoveries.

Net loan charge-offs, excluding net covered loan charge-offs, for the second quarter of 2013 were consistent with the first quarter of 2013. The increase in total net charge-offs compared to the first quarter of 2013 was primarily related to higher charge-offs of covered loans following management’s periodic re-estimation of cash flows. Net charge-offs declined 60% compared to the second quarter of 2012 reflecting improved credit quality driven by management’s accelerated credit remediation actions in 2012.

9

CAPITAL MANAGEMENT

Capital Ratios

(Dollar amounts in thousands)

	June 30, 2013		March 31, 2013		December 31, 2012		June 30, 2012		Regulatory Minimum For “Well- Capitalized”		Excess Over Required Minimums at June 30, 2013
Regulatory capital ratios:
Total capital to risk-weighted assets	12.10	%	12.05	%	11.90	%	12.94	%	10.00	%	21	%	$	137,185
Tier 1 capital to risk-weighted assets	10.61	%	10.55	%	10.28	%	11.21	%	6.00	%	77	%	$	301,327
Tier 1 leverage to average assets	8.77	%	8.75	%	8.40	%	9.24	%	5.00	%	75	%	$	297,962
Tier 1 common capital to risk-weighted assets	9.69	%	9.62	%	9.33	%	10.21	%	N/A	(1)	N/A	(1)	N/A		(1)
Tangible common equity ratios (2):
Tangible common equity to tangible assets	8.62	%	8.66	%	8.44	%	8.91	%	N/A	(1)	N/A	(1)	N/A		(1)
Tangible common equity, excluding other comprehensive loss, to tangible assets	8.75	%	8.88	%	8.64	%	9.06	%	N/A	(1)	N/A	(1)	N/A		(1)
Tangible common equity to risk-weighted assets	10.64	%	10.52	%	10.39	%	10.87	%	N/A	(1)	N/A	(1)	N/A		(1)
Non-performing assets to tangible common equity and allowance for credit losses	17.77	%	18.55	%	18.36	%	29.78	%	N/A	(1)	N/A	(1)	N/A		(1)

(1)Ratio is not subject to formal Federal Reserve regulatory guidance.

(2)Tangible common equity (“TCE”) represents common stockholders’ equity less goodwill and identifiable intangible assets. In management’s view, Tier 1 common and TCE measures are meaningful to the Company, as well as analysts and investors, in assessing the Company’s use of equity and in facilitating comparisons with competitors.

The Company’s regulatory ratios exceeded all regulatory mandated ratios for characterization as “well-capitalized” as of June 30, 2013. The Board of Directors reviews the Company’s capital plan each quarter, giving consideration to the current and expected operating environment as well as an evaluation of various capital alternatives.

10

About the Company

First Midwest is the premier relationship-based banking franchise in the dynamic Chicagoland banking market. As one of the Chicago metropolitan area’s largest independent bank holding companies, First Midwest provides the full range of business and retail banking and wealth management services through approximately 90 offices located in communities in metropolitan Chicago, northwest Indiana, central and western Illinois, and eastern Iowa. First Midwest has been recognized by the Chicago Tribune as one of Chicago’s Top Workplaces for the third consecutive year by being named a National Standard Top Workplace. Additionally, Forbes has recognized First Midwest as one of America’s Most Trustworthy Companies for 2012.

Safe Harbor Statement

This press release may contain “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are not historical facts but instead represent only the Company’s beliefs regarding future events, many of which, by their nature, are inherently uncertain and outside of the Company’s control. It is possible that actual results and the Company’s financial condition may differ, possibly materially, from the anticipated results and financial condition indicated in these forward-looking statements. For a discussion of some of the risks and important factors that could affect the Company’s future results, see “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2012 and other reports filed with the Securities and Exchange Commission. Forward-looking statements represent management’s best judgment as of the date hereof based on currently available information. The Company undertakes no duty to update any forward-looking statements contained in this press release after the date hereof.

Conference Call

A conference call to discuss the Company’s results, outlook, and related matters will be held on Wednesday, July 24, 2013 at 10:00 AM (ET). Members of the public who would like to listen to the conference call should dial (888) 317-6016 (U.S. domestic) or (412) 317-6016 (international) and ask for the First Midwest Bancorp, Inc. Earnings Conference Call. The number should be dialed 10 to 15 minutes prior to the start of the conference call. There is no charge to access the call. The conference call will also be accessible as an audio webcast through the Investor Relations section of the Company’s website, www.firstmidwest.com/investorrelations. For those unable to listen to the live broadcast, a replay will be available on the Company’s website or by dialing (877) 344-7529 (U.S. domestic) or (412) 317-0088 (international) conference I.D. 10030586 beginning one hour after completion of the live call until 9:00 A.M. (ET) on July 31, 2013. Please direct any questions regarding obtaining access to the conference call to First Midwest Bancorp, Inc. Investor Relations, via e-mail, at investor.relations@firstmidwest.com.

Accompanying Financial Statements and Tables

Accompanying this press release is the following unaudited financial information:

·Condensed Consolidated Statements of Financial Condition

·Condensed Consolidated Statements of Income

Press Release and Additional Information Available on Website

This press release, the accompanying financial statements and tables, and certain additional unaudited Selected Financial Information are available through the “Investor Relations” section of First Midwest’s website at www.firstmidwest.com/investorrelations.

11

Condensed Consolidated Statements of Financial Condition

Unaudited

(Amounts in thousands)

	June 30, 2013			March 31, 2013			December 31, 2012			June 30, 2012
Assets
Cash and due from banks	$	130,992		$	95,983		$	149,420		$	110,924
Interest-bearing deposits in other banks	653,113			457,333			566,846			367,238
Trading securities, at fair value	15,451			15,544			14,162			15,314
Securities available-for-sale, at fair value	1,223,486			1,246,679			1,082,403			1,174,931
Securities held-to-maturity, at amortized cost	30,373			31,443			34,295			60,933
Federal Home Loan Bank and Federal Reserve Bank stock, at cost	35,161			47,232			47,232			46,750
Loans, excluding covered loans	5,287,565			5,175,271			5,189,676			5,298,026
Covered loans	171,861			186,687			197,894			230,047
Allowance for loan and covered loan losses	(94,110		)	(97,591		)	(99,446		)	(116,182		)
Net loans	5,365,316			5,264,367			5,288,124			5,411,891
OREO, excluding covered OREO	39,497			39,994			39,953			28,309
Covered OREO	13,681			14,774			13,123			9,136
FDIC indemnification asset	23,158			28,958			37,051			58,302
Premises, furniture, and equipment	118,285			118,617			121,596			133,638
Investment in BOLI	207,081			206,706			206,405			206,572
Goodwill and other intangible assets	279,421			280,240			281,059			281,981
Accrued interest receivable and other assets	208,310			207,949			218,170			193,436
Total assets	$	8,343,325		$	8,055,819		$	8,099,839		$	8,099,355
Liabilities and Stockholders’ Equity
Deposits:
Transactional deposits	$	5,555,489		$	5,251,715		$	5,272,307		$	5,121,261
Time deposits	1,311,258			1,349,080			1,399,948			1,506,482
Total deposits	6,866,747			6,600,795			6,672,255			6,627,743
Borrowed funds	196,603			208,854			185,984			189,524
Senior and subordinated debt	214,843			214,811			214,779			231,138
Accrued interest payable and other liabilities	90,479			77,908			85,928			72,398
Total liabilities	7,368,672			7,102,368			7,158,946			7,120,803
Common stock	858			858			858			858
Additional paid-in capital	411,470			409,077			418,318			414,665
Retained earnings	813,516			800,343			786,453			823,250
Accumulated other comprehensive loss, net of tax	(10,299		)	(16,889		)	(15,660		)	(11,867		)
Treasury stock, at cost	(240,892		)	(239,938		)	(249,076		)	(248,354		)
Total stockholders’ equity	974,653			953,451			940,893			978,552
Total liabilities and stockholders’ equity	$	8,343,325		$	8,055,819		$	8,099,839		$	8,099,355

12

Condensed Consolidated Statements of Income

Unaudited

(Amounts in thousands, except per share data)

	Quarters Ended
	June 30,2013			March 31, 2013			June 30, 2012
Interest Income
Loans, excluding covered loans	$	59,111		$	59,431		$	61,993
Covered loans	4,151			3,449			4,473
Investment securities	7,657			7,356			8,414
Other short-term investments	834			809			638
Total interest income	71,753			71,045			75,518
Interest Expense
Deposits	3,003			3,320			4,678
Borrowed funds	385			442			490
Senior and subordinated debt	3,435			3,435			3,646
Total interest expense	6,823			7,197			8,814
Net interest income	64,930			63,848			66,704
Provision for loan and covered loan losses	5,813			5,674			22,458
Net interest income after provision for loan and covered loan losses	59,117			58,174			44,246
Noninterest Income
Service charges on deposit accounts	9,118			8,677			8,848
Card-based fees	5,547			5,076			5,312
Wealth management fees	6,126			5,839			5,394
Mortgage banking income	1,040			1,966			—
Merchant servicing fees	2,899			2,554			2,908
Other service charges, commissions, and fees	1,278			1,646			1,189
Other income	1,003			781			810
Net trading gains (losses)	214			1,036			(575		)
Net securities gains	216			—			151
Total noninterest income	27,441			27,575			24,037
Noninterest Expense
Salaries and wages	26,820			28,963			23,852
Retirement and other employee benefits	6,101			7,606			5,714
Net occupancy and equipment expense	7,793			8,147			7,513
Technology and related costs	2,884			2,483			2,851
Professional services	5,595			5,218			6,905
Net OREO expense	1,084			1,799			4,124
FDIC premiums	1,704			1,742			1,659
Adjusted amortization of FDIC indemnification asset	750			750			—
Other expenses	9,696			8,106			8,539
Total noninterest expense	62,427			64,814			61,157
Income before income tax expense	24,131			20,935			7,126
Income tax expense	7,955			6,293			761
Net income	16,176			14,642			6,365
Net income applicable to non-vested restricted shares	(219		)	(212		)	(76		)
Net income applicable to common shares	$	15,957		$	14,430		$	6,289
Diluted earnings per common share	$	0.22		$	0.20		$	0.09
Dividends declared per common share	$	0.04		$	0.01		$	0.01
Weighted average diluted common shares outstanding	74,024			73,874			73,659

13

EX-99.2

Exhibit 99.2

First Midwest Bancorp, Inc.

Selected Financial Information

(Amounts in thousands, except per share data)

	2013									2012															2011
	March 31			June 30			June 30/YTD			March 31			June 30			September 30			December 31			Dec. 31/YTD			March 31			June 30			September 30			December 31			Dec. 31/YTD
Period-End Balance Sheet
Assets:
Cash and cash equivalents	$	553,316		$	784,105		$	784,105		$	486,373		$	478,162		$	518,374		$	716,266		$	716,266		$	526,460		$	711,469		$	1,062,333		$	641,530		$	641,530
Securities available-for-sale, at fair value	1,246,679			1,223,486			1,223,486			1,183,975			1,174,931			1,191,582			1,082,403			1,082,403			1,057,758			1,009,873			970,430			1,013,006			1,013,006
Securities held-to-maturity, at amortized cost	31,443			30,373			30,373			56,319			60,933			41,944			34,295			34,295			81,218			76,142			74,375			60,458			60,458
FHLB and FRB stock	47,232			35,161			35,161			46,750			46,750			47,232			47,232			47,232			61,338			58,187			58,187			58,187			58,187
Loans held-for-sale	—			1,589			1,589			1,500			—			90,011			—			—			3,800			1,595			4,620			4,200			4,200
Loans:
Commercial and industrial	1,659,872			1,743,139			1,743,139			1,496,966			1,597,427			1,610,169			1,631,474			1,631,474			1,493,465			1,518,772			1,476,034			1,458,446			1,458,446
Agricultural	274,991			288,632			288,632			237,686			272,742			259,787			268,618			268,618			234,898			237,518			250,436			243,776			243,776
Commercial real estate:
Office, retail, and industrial	1,344,256			1,319,849			1,319,849			1,366,899			1,391,129			1,330,331			1,333,191			1,333,191			1,205,880			1,229,100			1,263,315			1,299,082			1,299,082
Multi-family	298,117			306,182			306,182			301,356			308,250			309,509			285,481			285,481			344,645			336,138			317,313			288,336			288,336
Residential construction	54,032			50,384			50,384			99,768			88,908			61,920			61,462			61,462			151,887			129,327			116,283			105,836			105,836
Commercial construction	122,210			117,116			117,116			142,307			147,626			136,509			124,954			124,954			153,392			146,679			145,889			144,909			144,909
Other commercial real estate	743,076			759,367			759,367			829,005			817,071			780,712			773,121			773,121			850,334			852,966			877,241			888,146			888,146
1-4 family mortgages	263,286			291,770			291,770			217,729			237,341			292,908			282,948			282,948			178,538			185,002			189,587			201,099			201,099
Consumer	415,431			411,126			411,126			445,612			437,532			436,500			428,427			428,427			482,504			477,409			468,396			458,483			458,483
Total loans, excluding covered loans	5,175,271			5,287,565			5,287,565			5,137,328			5,298,026			5,218,345			5,189,676			5,189,676			5,095,543			5,112,911			5,104,494			5,088,113			5,088,113
Covered loans	186,687			171,861			171,861			251,376			230,047			216,610			197,894			197,894			349,446			314,942			289,747			260,502			260,502
Allowance for loan and covered loan losses	(97,591		)	(94,110		)	(94,110		)	(116,264		)	(116,182		)	(102,445		)	(99,446		)	(99,446		)	(142,503		)	(137,331		)	(128,791		)	(119,462		)	(119,462		)
Net loans	5,264,367			5,365,316			5,365,316			5,272,440			5,411,891			5,332,510			5,288,124			5,288,124			5,302,486			5,290,522			5,265,450			5,229,153			5,229,153
OREO, excluding covered OREO	39,994			39,497			39,497			35,276			28,309			36,487			39,953			39,953			33,863			24,407			23,863			33,975			33,975
Covered OREO	14,774			13,681			13,681			16,990			9,136			8,729			13,123			13,123			21,543			14,583			21,594			23,455			23,455
FDIC indemnification asset	28,958			23,158			23,158			58,488			58,302			47,191			37,051			37,051			85,386			95,752			63,508			65,609			65,609
Investment in bank-owned life insurance	206,706			207,081			207,081			206,304			206,572			206,043			206,405			206,405			197,889			198,149			205,886			206,235			206,235
Goodwill and other intangible assets	280,240			279,421			279,421			282,815			281,981			281,914			281,059			281,059			285,077			284,120			283,163			283,650			283,650
Other assets	342,110			340,457			340,457			340,772			342,388			365,159			353,928			353,928			379,791			364,592			346,765			354,136			354,136
Total assets	$	8,055,819		$	8,343,325		$	8,343,325		$	7,988,002		$	8,099,355		$	8,167,176		$	8,099,839		$	8,099,839		$	8,036,609		$	8,129,391		$	8,380,174		$	7,973,594		$	7,973,594
Liabilities and Stockholders’ Equity:
Noninterest-bearing deposits	$	1,738,110		$	1,855,906		$	1,855,906		$	1,637,593		$	1,727,009		$	1,773,928		$	1,762,903		$	1,762,903		$	1,346,698		$	1,494,390		$	1,634,623		$	1,593,773		$	1,593,773
Interest-bearing deposits	4,862,685			5,010,841			5,010,841			4,848,770			4,900,734			4,975,127			4,909,352			4,909,352			5,073,196			5,001,159			4,991,985			4,885,402			4,885,402
Total deposits	6,600,795			6,866,747			6,866,747			6,486,363			6,627,743			6,749,055			6,672,255			6,672,255			6,419,894			6,495,549			6,626,608			6,479,175			6,479,175
Borrowed funds	208,854			196,603			196,603			202,155			189,524			183,691			185,984			185,984			273,342			272,024			386,429			205,371			205,371
Senior and subordinated debt	214,811			214,843			214,843			231,106			231,138			231,171			214,779			214,779			137,746			137,748			137,751			252,153			252,153
Other liabilities	77,908			90,479			90,479			95,677			72,398			69,824			85,928			85,928			81,925			82,828			77,476			74,308			74,308
Stockholders’ equity	953,451			974,653			974,653			972,701			978,552			933,435			940,893			940,893			1,123,702			1,141,242			1,151,910			962,587			962,587
Total liabilities and stockholders’ equity	$	8,055,819		$	8,343,325		$	8,343,325		$	7,988,002		$	8,099,355		$	8,167,176		$	8,099,839		$	8,099,839		$	8,036,609		$	8,129,391		$	8,380,174		$	7,973,594		$	7,973,594
Stockholders’ equity, excluding OCI	$	970,340		$	984,952		$	984,952		$	983,620		$	990,419		$	942,683		$	956,553		$	956,553		$	1,148,075		$	1,156,581		$	1,163,323		$	975,863		$	975,863
Stockholders’ equity, common	953,451			974,653			974,653			972,701			978,552			933,435			940,893			940,893			930,702			948,242			958,910			962,587			962,587
Stockholders’ equity, common excluding OCI	970,340			984,952			984,952			983,620			990,419			942,683			956,553			956,553			955,075			963,581			970,323			975,863			975,863
Stockholders’ equity, preferred	—			—			—			—			—			—			—			—			193,000			193,000			193,000			—			—
Average Balance Sheet
Total assets	$	8,071,301		$	8,259,653		$	8,165,998		$	7,957,191		$	8,113,742		$	8,227,113		$	8,139,243		$	8,109,726		$	8,094,951		$	8,171,095		$	8,229,780		$	8,142,503		$	8,159,905
Investment securities	1,175,063			1,256,813			1,216,163			1,163,338			1,238,767			1,220,654			1,144,997			1,191,889			1,166,991			1,150,221			1,057,075			1,069,844			1,110,619
FHLB and FRB stock	47,232			40,998			44,098			52,531			46,750			47,111			47,232			48,400			61,338			59,745			58,187			58,187			59,352
Total loans, excluding covered loans	5,148,343			5,180,608			5,164,564			5,089,286			5,213,944			5,353,911			5,160,576			5,204,718			5,075,840			5,108,234			5,136,130			5,085,792			5,101,621
Covered interest-earning assets	223,691			203,283			213,431			318,569			297,141			276,180			248,971			285,091			444,242			420,108			387,635			343,479			398,559
Other interest-earning assets	598,527			690,459			644,748			464,373			448,126			450,917			631,693			502,069			483,312			582,570			758,030			732,051			639,999
Total interest-earning assets	$	7,192,856		$	7,372,161		$	7,283,004		$	7,088,097		$	7,244,728		$	7,348,773		$	7,233,469		$	7,232,167		$	7,231,723		$	7,320,878		$	7,397,057		$	7,289,353		$	7,310,150
Demand deposits	$	1,740,825		$	1,880,476		$	1,811,036		$	1,591,198		$	1,797,854		$	1,852,810		$	1,808,522		$	1,762,968		$	1,342,013		$	1,465,438		$	1,569,671		$	1,613,221		$	1,498,900
Interest-bearing demand deposits	79			68			74			386			718			514			155			443			—			—			—			24			6
Savings deposits	1,107,213			1,144,093			1,125,755			995,955			1,042,099			1,048,430			1,066,611			1,038,379			901,205			944,802			940,151			952,962			934,937
NOW accounts	1,145,403			1,166,159			1,155,838			1,051,484			1,063,336			1,110,898			1,133,585			1,090,003			1,044,280			1,126,913			1,129,893			1,062,993			1,091,178
Money market deposits	1,251,235			1,274,062			1,262,712			1,184,316			1,176,723			1,234,833			1,268,046			1,216,173			1,240,439			1,205,736			1,236,546			1,237,600			1,230,090
Transactional deposits	5,244,755			5,464,858			5,355,415			4,823,339			5,080,730			5,247,485			5,276,919			5,107,966			4,527,937			4,742,889			4,876,261			4,866,800			4,755,111
Time deposits	1,374,529			1,331,499			1,352,894			1,621,926			1,548,410			1,498,993			1,447,918			1,529,006			1,937,890			1,813,164			1,731,413			1,688,971			1,792,009
Total deposits	6,619,284			6,796,357			6,708,309			6,445,265			6,629,140			6,746,478			6,724,837			6,636,972			6,465,827			6,556,053			6,607,674			6,555,771			6,547,120
Borrowed funds	199,891			204,449			202,183			203,548			195,934			189,835			185,390			193,643			285,847			262,525			262,001			252,839			265,702
Senior and subordinated debt	214,796			214,828			214,812			248,232			231,123			231,156			214,764			231,273			137,745			137,747			137,749			187,488			150,285
Total funding sources	$	7,033,971		$	7,215,634		$	7,125,304		$	6,897,045		$	7,056,197		$	7,167,469		$	7,124,991		$	7,061,888		$	6,889,419		$	6,956,325		$	7,007,424		$	6,996,098		$	6,963,107
Stockholders’ equity	$	948,060		$	960,501		$	954,315		$	970,368		$	977,054		$	982,582		$	941,175		$	967,763		$	1,122,315		$	1,134,770		$	1,148,548		$	1,072,684		$	1,119,523
Stockholders’ equity, common	948,060			960,501			954,315			970,368			977,054			982,582			941,175			967,763			929,315			941,770			955,548			961,500			947,145
Stockholders’ equity, preferred	—			—			—			—			—			—			—			—			193,000			193,000			193,000			111,184			172,378

First Midwest Bancorp, Inc.

Selected Financial Information

(Amounts in thousands, except per share data)

	2013									2012															2011
	March 31			June 30			June 30/YTD			March 31			June 30			September 30			December 31			Dec. 31/YTD			March 31			June 30			September 30			December 31			Dec. 31/YTD
Income Statement
Interest income	$	71,045		$	71,753		$	142,798		$	75,268		$	75,518		$	75,584		$	74,199		$	300,569		$	81,283		$	81,296		$	80,175		$	78,757		$	321,511
Interest expense	7,197			6,823			14,020			10,086			8,814			8,324			7,677			34,901			10,637			9,935			9,640			9,679			39,891
Net interest income	63,848			64,930			128,778			65,182			66,704			67,260			66,522			265,668			70,646			71,361			70,535			69,078			281,620
Provision for loan and covered loan losses	5,674			5,813			11,487			18,210			22,458			111,791			5,593			158,052			19,492			18,763			20,425			21,902			80,582
Service charges on deposit accounts	8,677			9,118			17,795			8,660			8,848			9,502			9,689			36,699			8,144			9,563			10,215			9,957			37,879
Card-based fees	5,076			5,547			10,623			5,020			5,312			5,246			5,274			20,852			4,529			5,162			4,931			4,971			19,593
Wealth management fees	5,839			6,126			11,965			5,392			5,394			5,415			5,590			21,791			5,053			5,237			4,982			5,052			20,324
Mortgage banking income	1,966			1,040			3,006			—			—			167			2,102			2,269			—			—			—			—			—
Merchant servicing fees	2,554			2,899			5,453			2,322			2,908			2,849			2,727			10,806			2,607			2,945			2,836			2,524			10,912
Other service charges, commissions, and fees	1,646			1,278			2,924			1,198			1,189			1,171			1,348			4,906			1,370			1,298			1,453			1,353			5,474
Total fee-based revenues	25,758			26,008			51,766			22,592			23,651			24,350			26,730			97,323			21,703			24,205			24,417			23,857			94,182
Bank-owned life insurance income	281			319			600			248			404			300			355			1,307			252			259			1,479			241			2,231
Other income	500			684			1,184			1,135			406			727			460			2,728			978			501			598			652			2,729
Trading gains	1,036			214			1,250			1,401			(575		)	685			116			1,627			744			(2		)	(2,352		)	919			(691		)
Net securities gains (losses)	—			216			216			(943		)	151			(217		)	88			(921		)	540			1,531			449			(110		)	2,410
Gains on acquisitions	—			—			—			—			—			3,289			—			3,289			—			—			—			1,076			1,076
Gain on bulk loan sales	—			—			—			—			—			—			5,153			5,153			—			—			—			—			—
Net gains (losses) on early extinguishment of debt	—			—			—			256			—			—			(814		)	(558		)	—			—			—			—			—
Total noninterest income	27,575			27,441			55,016			24,689			24,037			29,134			32,088			109,948			24,217			26,494			24,591			26,635			101,937
Salaries and wages	28,963			26,820			55,783			27,257			23,852			26,881			27,241			105,231			25,665			25,493			22,957			27,588			101,703
Retirement and other employee benefits	7,606			6,101			13,707			6,793			5,714			6,230			6,787			25,524			7,153			6,061			6,225			7,632			27,071
Net occupancy and equipment expense	8,147			7,793			15,940			8,331			7,513			8,108			8,747			32,699			9,103			8,012			8,157			7,681			32,953
Technology and related costs	2,483			2,884			5,367			2,858			2,851			2,906			3,231			11,846			2,623			2,697			2,709			2,876			10,905
Professional services	5,218			5,595			10,813			5,629			6,905			6,665			10,415			29,614			5,119			5,640			7,571			8,026			26,356
Net OREO expense	1,799			1,084			2,883			1,864			4,124			3,208			1,325			10,521			3,931			5,223			4,174			2,965			16,293
FDIC premiums	1,742			1,704			3,446			1,719			1,659			1,785			1,763			6,926			2,725			1,708			1,799			1,758			7,990
Advertising and promotions	1,410			2,033			3,443			870			1,032			1,427			1,744			5,073			1,079			1,378			2,502			1,239			6,198
Merchant card expense	2,044			2,321			4,365			1,796			2,324			2,272			2,192			8,584			2,088			2,391			2,315			1,849			8,643
Cardholder expenses	929			1,043			1,972			1,042			980			982			935			3,939			825			1,097			957			914			3,793
Adjusted amortization of FDIC indemnification asset	750			750			1,500			—			—			4,000			2,705			6,705			—			—			—			—			—
Intangibles amortization	819			819			1,638			834			834			849			855			3,372			957			956			957			932			3,802
Other expenses	2,904			3,480			6,384			3,620			3,369			4,810			5,667			17,466			4,150			5,063			3,853			3,131			16,197
Total noninterest expense	64,814			62,427			127,241			62,613			61,157			70,123			73,607			267,500			65,418			65,719			64,176			66,591			261,904
Income (loss) before income tax	20,935			24,131			45,066			9,048			7,126			(85,520		)	19,410			(49,936		)	9,953			13,373			10,525			7,220			41,071
Income tax	6,293			7,955			14,248			1,156			761			(36,993		)	6,194			(28,882		)	(91		)	2,720			1,583			296			4,508
Net income (loss)	$	14,642		$	16,176		$	30,818		$	7,892		$	6,365		$	(48,527	)	$	13,216		$	(21,054	)	$	10,044		$	10,653		$	8,942		$	6,924		$	36,563
Net income (loss) applicable to common shares	$	14,430		$	15,957		$	30,387		$	7,753		$	6,289		$	(47,812	)	$	13,022		$	(20,748	)	$	7,326		$	7,971		$	6,263		$	3,877		$	25,437
Basic earnings (loss) per common share	0.20			0.22			0.41			0.11			0.09			(0.65		)	0.18			(0.28		)	0.10			0.11			0.09			0.05			0.35
Diluted earnings (loss) per common share	0.20			0.22			0.41			0.11			0.09			(0.65		)	0.18			(0.28		)	0.10			0.11			0.09			0.05			0.35
Weighted average shares outstanding	73,867			74,017			73,942			73,505			73,659			73,742			73,750			73,665			73,151			73,259			73,361			73,382			73,289
Weighted average diluted shares outstanding	73,874			74,024			73,950			73,505			73,659			73,742			73,758			73,666			73,151			73,259			73,361			73,382			73,289
Tax equivalent adjustment (1)	$	3,154		$	3,074		$	6,228		$	3,292		$	3,324		$	3,400		$	3,233		$	13,249		$	3,567		$	3,517		$	3,395		$	3,339		$	13,818
Net interest income (FTE) (1)	67,002			68,004			135,006			68,474			70,028			70,660			69,755			278,917			74,213			74,878			73,930			72,417			295,438
Common stock and related per common share data:
Book value	$	12.70		$	12.98		$	12.98		$	12.99		$	13.07		$	12.47		$	12.57		$	12.57		$	12.49		$	12.73		$	12.87		$	12.93		$	12.93
Tangible book value	8.96			9.26			9.26			9.21			9.30			8.71			8.82			8.82			8.66			8.92			9.07			9.12			9.12
Dividends declared per share	0.01			0.04			0.05			0.01			0.01			0.01			0.01			0.04			0.01			0.01			0.01			0.01			0.04
Closing price at period end	13.28			13.72			13.72			11.98			10.98			12.56			12.52			12.52			11.79			12.29			7.32			10.13			10.13
Market price - period high	13.60			13.87			13.87			12.87			12.25			13.40			13.57			13.57			13.07			13.48			12.72			10.31			13.48
Market price - period low	12.11			11.57			11.57			10.25			9.42			10.43			11.62			9.42			10.79			11.05			7.22			6.89			6.89
Closing price to book value	1.0			1.1			1.1			0.9			0.8			1.0			1.0			1.0			0.9			1.0			0.6			0.8			0.8
Period end shares outstanding	75,095			75,063			75,063			74,898			74,862			74,831			74,840			74,840			74,543			74,473			74,485			74,435			74,435
Period end treasury shares	10,692			10,724			10,724			10,889			10,925			10,956			10,947			10,947			11,244			11,314			11,302			11,352			11,352
Common dividends	$	752		$	3,003		$	3,755		$	749		$	745		$	747		$	739		$	2,980		$	746		$	743		$	745		$	744		$	2,978
Preferred dividends	—			—			—			—			—			—			—			—			2,413			2,412			2,413			1,420			8,658
Other Key Ratios/Data:
Return on average common equity (2)	6.17		%	6.66		%	6.42		%	3.21		%	2.59		%	-19.36		%	5.50		%	-2.14		%	3.20		%	3.39		%	2.60		%	1.60		%	2.69		%
Return on average assets (2)	0.74		%	0.79		%	0.76		%	0.40		%	0.32		%	-2.35		%	0.65		%	-0.26		%	0.50		%	0.52		%	0.43		%	0.34		%	0.45		%
Net interest margin (1)	3.77		%	3.70		%	3.73		%	3.88		%	3.88		%	3.83		%	3.84		%	3.86		%	4.15		%	4.10		%	3.97		%	3.95		%	4.04		%
Yield on average interest-earning assets (1)	4.18		%	4.07		%	4.12		%	4.45		%	4.37		%	4.28		%	4.26		%	4.34		%	4.75		%	4.64		%	4.49		%	4.47		%	4.59		%
Cost of funds	0.55		%	0.51		%	0.53		%	0.76		%	0.67		%	0.62		%	0.57		%	0.66		%	0.78		%	0.73		%	0.70		%	0.71		%	0.73		%
Efficiency ratio (1)	66.50		%	64.27		%	65.38		%	64.62		%	60.56		%	69.04		%	74.02		%	67.14		%	62.70		%	60.49		%	60.57		%	64.76		%	62.12		%
Net noninterest expense ratio (2)	1.87		%	1.71		%	1.79		%	1.88		%	1.85		%	2.13		%	2.25		%	2.03		%	2.09		%	2.00		%	1.93		%	1.99		%	2.00		%
Effective income tax rate	30.06		%	32.97		%	31.62		%	12.78		%	10.68		%	43.26		%	31.91		%	57.84		%	-0.91		%	20.34		%	15.04		%	4.10		%	10.98		%
Full time equivalent employees - end of period	1,693			1,672			1,672			1,757			1,758			1,768			1,731			1,731			1,845			1,846			1,833			1,791			1,791
Number of bank offices	91			91			91			98			98			94			91			91			97			96			96			98			98
Number of automated teller machines	126			126			126			132			132			131			130			130			136			135			133			132			132

Note:  Discussion of footnotes are located at the end of this document.

First Midwest Bancorp, Inc.

Selected Financial Information

(Amounts in thousands, except per share data)

	2013									2012															2011
	March 31			June 30			June 30/YTD			March 31			June 30			September 30			December 31			Dec. 31/YTD			March 31			June 30			September 30			December 31			Dec. 31/YTD
Pre-Tax, Pre-Provision Operating Earnings
Income (loss) before income tax	$	20,935		$	24,131		$	45,066		$	9,048		$	7,126		$	(85,520	)	$	19,410		$	(49,936	)	$	9,953		$	13,373		$	10,525		$	7,220		$	41,071
Provision for loan and covered loan losses	5,674			5,813			11,487			18,210			22,458			111,791			5,593			158,052			19,492			18,763			20,425			21,902			80,582
Pre-tax, pre-provision operating earnings	26,609			29,944			56,553			27,258			29,584			26,271			25,003			108,116			29,445			32,136			30,950			29,122			121,653
Adjustments to pre-tax, pre-provision operating earnings:
Net securities gains (losses)	—			216			216			(943		)	151			(217		)	88			(921		)	540			1,531			449			(110		)	2,410
Gain, less related expenses, on bulk loan sales	—			—			—			—			—			—			2,639			2,639			—			—			—			—			—
Gains on acquisitions, net of integration costs	—			—			—			—			—			3,074			(588		)	2,486			—			—			—			1,076			1,076
Net gains (losses) on early extinguishment of debt	—			—			—			256			—			—			(814		)	(558		)	—			—			—			—			—
Adjusted amortization of FDIC indemnification asset	(750		)	(750		)	(1,500		)	—			—			(4,000		)	(2,705		)	(6,705		)	—			—			—			—			—
Net losses on sales and valuation adjustments of OREO, excess properties, assets held-for-sale, and other	(781		)	288			(493		)	(303		)	(2,527		)	(3,280		)	(1,805		)	(7,915		)	(2,537		)	(4,149		)	(2,686		)	(1,425		)	(10,797		)
Severance-related costs	(980		)	(511		)	(1,491		)	(315		)	—			(840		)	(59		)	(1,214		)	—			(191		)	(78		)	(2,000		)	(2,269		)
Total adjustments	(2,511		)	(757		)	(3,268		)	(1,305		)	(2,376		)	(5,263		)	(3,244		)	(12,188		)	(1,997		)	(2,809		)	(2,315		)	(2,459		)	(9,580		)
Pre-tax, pre-provision operating earnings	$	29,120		$	30,701		$	59,821		$	28,563		$	31,960		$	31,534		$	28,247		$	120,304		$	31,442		$	34,945		$	33,265		$	31,581		$	131,233
Risk-Based Capital Data:
Preferred stock	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	191,050		$	191,220		$	191,393		$	—		$	—
Common stock	858			858			858			858			858			858			858			858			858			858			858			858			858
Additional paid-in capital	409,077			411,470			411,470			413,742			414,665			417,245			418,318			418,318			422,405			424,877			425,647			428,001			428,001
Retained earnings	800,343			813,516			813,516			817,630			823,250			773,976			786,453			786,453			794,395			801,723			807,334			810,487			810,487
Treasury stock, at cost	(239,938		)	(240,892		)	(240,892		)	(248,610		)	(248,354		)	(249,396		)	(249,076		)	(249,076		)	(260,633		)	(262,097		)	(261,909		)	(263,483		)	(263,483		)
Trust preferred securities	59,965			59,965			59,965			64,265			64,265			64,265			59,965			59,965			84,730			84,730			84,730			84,730			84,730
Goodwill and other intangible assets	(280,240		)	(279,421		)	(279,421		)	(282,815		)	(281,981		)	(281,914		)	(281,059		)	(281,059		)	(285,077		)	(284,120		)	(283,163		)	(283,650		)	(283,650		)
Disallowed deferred tax assets	(74,615		)	(71,987		)	(71,987		)	(50,602		)	(54,178		)	(86,201		)	(82,979		)	(82,979		)	(43,392		)	(41,363		)	(44,858		)	(52,080		)	(52,080		)
Tier 1 capital	675,450			693,509			693,509			714,468			718,525			638,833			652,480			652,480			904,336			915,828			920,032			724,863			724,863
Tier 2 capital	95,700			97,313			97,313			129,330			110,938			111,102			102,784			102,784			130,033			129,595			129,277			129,098			129,098
Total capital	$	771,150		$	790,822		$	790,822		$	843,798		$	829,463		$	749,935		$	755,264		$	755,264		$	1,034,369		$	1,045,423		$	1,049,309		$	853,961		$	853,961
Risk-adjusted assets	$	6,401,019		$	6,536,373		$	6,536,373		$	6,263,673		$	6,409,298		$	6,437,263		$	6,348,523		$	6,348,523		$	6,291,987		$	6,261,928		$	6,244,070		$	6,241,191		$	6,241,191
Tier 1 common capital	615,485			633,544			633,544			650,203			654,260			574,568			592,515			592,515			626,606			638,098			642,302			640,133			640,133
Tangible common equity	673,211			695,232			695,232			689,886			696,571			651,521			659,834			659,834			645,625			664,122			675,747			678,937			678,937
Tangible common equity excluding OCI	690,100			705,531			705,531			700,805			708,438			660,769			675,494			675,494			669,998			679,461			687,160			692,213			692,213
Adjusted average assets	7,717,847			7,910,936			7,910,936			7,620,777			7,772,866			7,854,202			7,768,967			7,768,967			7,795,603			7,862,447			7,909,645			7,813,637			7,813,637
Total capital to risk-weighted assets	12.05		%	12.10		%	12.10		%	13.47		%	12.94		%	11.65		%	11.90		%	11.90		%	16.44		%	16.69		%	16.80		%	13.68		%	13.68		%
Tier 1 capital to risk-weighted assets	10.55		%	10.61		%	10.61		%	11.41		%	11.21		%	9.92		%	10.28		%	10.28		%	14.37		%	14.63		%	14.73		%	11.61		%	11.61		%
Tier 1 leverage to average assets	8.75		%	8.77		%	8.77		%	9.38		%	9.24		%	8.13		%	8.40		%	8.40		%	11.60		%	11.65		%	11.63		%	9.28		%	9.28		%
Tier 1 common capital to risk-weighted assets	9.62		%	9.69		%	9.69		%	10.38		%	10.21		%	8.93		%	9.33		%	9.33		%	9.96		%	10.19		%	10.29		%	10.26		%	10.26		%
Tangible common equity ratio	8.66		%	8.62		%	8.62		%	8.95		%	8.91		%	8.26		%	8.44		%	8.44		%	8.33		%	8.47		%	8.35		%	8.83		%	8.83		%
Tangible common equity ratio, excluding OCI	8.88		%	8.75		%	8.75		%	9.10		%	9.06		%	8.38		%	8.64		%	8.64		%	8.64		%	8.66		%	8.49		%	9.00		%	9.00		%
Tangible common equity to risk-weighted assets	10.52		%	10.64		%	10.64		%	11.01		%	10.87		%	10.12		%	10.39		%	10.39		%	10.26		%	10.61		%	10.82		%	10.88		%	10.88		%

First Midwest Bancorp, Inc.

Selected Financial Information

(Amounts in thousands, except per share data)

	2013									2012															2011
	March 31			June 30			June 30/YTD			March 31			June 30			September 30			December 31			Dec. 31/YTD			March 31			June 30			September 30			December 31			Dec. 31/YTD
Asset Quality Performance Data:
Non-performing loans (3):
Commercial and industrial	$	29,625		$	28,157		$	28,157		$	55,158		$	55,358		$	31,102		$	25,941		$	25,941		$	54,561		$	44,393		$	30,507		$	44,152		$	44,152
Agricultural	655			786			786			882			1,293			1,204			1,173			1,173			1,171			1,009			2,977			1,019			1,019
Commercial real estate:
Office, retail, and industrial	26,438			24,428			24,428			34,831			46,629			22,624			23,224			23,224			16,753			16,567			24,728			30,043			30,043
Multi-family	1,766			2,068			2,068			9,615			8,843			2,028			1,434			1,434			6,787			23,385			18,196			6,487			6,487
Residential construction	5,552			3,331			3,331			21,104			17,500			4,750			4,612			4,612			36,326			23,576			20,911			18,076			18,076
Commercial construction	873			3,878			3,878			20,297			21,981			4,423			873			873			20,980			21,449			15,672			23,347			23,347
Other commercial real estate	17,532			13,022			13,022			43,137			34,192			21,284			16,214			16,214			38,732			36,984			45,727			51,447			51,447
1-4 family mortgages	4,680			5,064			5,064			5,648			5,466			5,901			4,874			4,874			3,362			4,577			4,648			5,322			5,322
Consumer	8,276			8,459			8,459			8,873			7,246			6,263			6,189			6,189			7,891			5,555			7,823			7,432			7,432
Total non-accrual loans	95,397			89,193			89,193			199,545			198,508			99,579			84,534			84,534			186,563			177,495			171,189			187,325			187,325
90 days or more past due loans	5,552			3,832			3,832			7,674			8,192			12,582			8,689			8,689			5,231			6,502			6,008			9,227			9,227
Total non-performing loans	100,949			93,025			93,025			207,219			206,700			112,161			93,223			93,223			191,794			183,997			177,197			196,552			196,552
Troubled debt restructurings	2,587			8,287			8,287			2,076			7,811			6,391			6,867			6,867			14,120			14,529			7,033			17,864			17,864
Other real estate owned	39,994			39,497			39,497			35,276			28,309			36,487			39,953			39,953			33,863			24,407			23,863			33,975			33,975
Total non-performing assets (3)	$	143,530		$	140,809		$	140,809		$	244,571		$	242,820		$	155,039		$	140,043		$	140,043		$	239,777		$	222,933		$	208,093		$	248,391		$	248,391
30-89 days past due loans (3)	$	22,222		$	21,756		$	21,756		$	21,241		$	23,597		$	20,088		$	22,666		$	22,666		$	28,927		$	30,424		$	34,061		$	27,495		$	27,495
Allowance for credit losses:
Allowance for loan losses	$	85,364		$	79,729		$	79,729		$	115,271		$	115,200		$	93,048		$	87,384		$	87,384		$	142,503		$	137,331		$	127,768		$	118,473		$	118,473
Allowance for covered loan losses	12,227			14,381			14,381			993			982			9,397			12,062			12,062			—			—			1,023			989			989
Reserve for unfunded commitments	2,866			2,866			2,866			2,500			2,500			2,500			3,366			3,366			2,500			2,500			2,500			2,500			2,500
Total allowance for credit losses	$	100,457		$	96,976		$	96,976		$	118,764		$	118,682		$	104,945		$	102,812		$	102,812		$	145,003		$	139,831		$	131,291		$	121,962		$	121,962
Provision for loan and covered loan losses	$	5,674		$	5,813		$	11,487		$	18,210		$	22,458		$	111,791		$	5,593		$	158,052		$	19,492		$	18,763		$	20,425		$	21,902		$	80,582
Net charge-offs by category:
Commercial and industrial	$	996		$	2,448		$	3,444		$	7,524		$	5,870		$	41,781		$	1,778		$	56,953		$	3,128		$	5,585		$	10,165		$	8,910		$	27,788
Agricultural	90			95			185			(50		)	18			4,531			(177		)	4,322			9			799			177			484			1,469
Commercial real estate:
Office, retail, and industrial	1,260			1,418			2,678			2,665			2,263			29,368			95			34,391			1,183			609			2,543			3,779			8,114
Multi-family	160			183			343			9			313			2,755			9			3,086			549			6,652			2,170			4,803			14,174
Residential construction	565			845			1,410			463			3,598			9,242			134			13,437			5,418			899			2,250			2,498			11,065
Commercial construction	(2		)	—			(2		)	170			2,616			11,037			100			13,923			261			133			4,115			1,673			6,182
Other commercial real estate	1,505			218			1,723			8,177			2,934			23,452			1,786			36,349			5,358			2,107			4,421			3,002			14,888
1-4 family mortgages	396			25			421			210			250			569			826			1,855			246			340			320			196			1,102
Consumer	1,861			2,085			3,946			1,966			2,244			2,351			1,710			8,271			2,317			2,703			1,780			2,199			8,999
Net charge-offs, excluding covered loans	6,831			7,317			14,148			21,134			20,106			125,086			6,261			172,587			18,469			19,827			27,941			27,544			93,781
Charge-offs on covered loans	698			1,977			2,675			274			2,434			442			1,465			4,615			1,092			4,108			1,024			3,687			9,911
Total net charge-offs	$	7,529		$	9,294		$	16,823		$	21,408		$	22,540		$	125,528		$	7,726		$	177,202		$	19,561		$	23,935		$	28,965		$	31,231		$	103,692
Total recoveries included above	$	3,243		$	1,388		$	4,631		$	1,278		$	1,141		$	731		$	2,455		$	5,605		$	2,008		$	3,813		$	1,033		$	1,030		$	7,884
Asset Quality ratios (3):
Non-accrual loans to loans	1.84		%	1.69		%	1.69		%	3.88		%	3.75		%	1.91		%	1.63		%	1.63		%	3.66		%	3.47		%	3.35		%	3.68		%	3.68		%
Non-performing loans to loans	1.95		%	1.76		%	1.76		%	4.03		%	3.90		%	2.15		%	1.80		%	1.80		%	3.76		%	3.60		%	3.47		%	3.86		%	3.86		%
Non-performing assets to loans plus OREO	2.75		%	2.64		%	2.64		%	4.73		%	4.56		%	2.95		%	2.68		%	2.68		%	4.67		%	4.34		%	4.06		%	4.85		%	4.85		%
Non-performing assets to tangible common equity plus allowance for credit losses	18.55		%	17.77		%	17.77		%	30.24		%	29.78		%	20.50		%	18.36		%	18.36		%	30.33		%	27.73		%	25.78		%	31.01		%	31.01		%
Non-accrual loans to total assets	1.18		%	1.07		%	1.07		%	2.50		%	2.45		%	1.22		%	1.04		%	1.04		%	2.32		%	2.18		%	2.04		%	2.35		%	2.35		%
Allowance for credit losses and net charge-off ratios (3):
Allowance for credit losses to loans	1.70		%	1.56		%	1.56		%	2.29		%	2.22		%	1.83		%	1.75		%	1.75		%	2.85		%	2.73		%	2.55		%	2.38		%	2.38		%
Allowance for credit losses to non-accrual loans	92.49		%	92.60		%	92.60		%	59.02		%	59.29		%	95.95		%	107.35		%	107.35		%	77.72		%	78.78		%	76.10		%	64.58		%	64.58		%
Allowance for credit losses to non-performing loans	87.40		%	88.79		%	88.79		%	56.83		%	56.94		%	85.19		%	97.35		%	97.35		%	75.60		%	76.00		%	73.52		%	61.55		%	61.55		%
Net charge-offs to average net loans (2)	0.54		%	0.57		%	0.55		%	1.67		%	1.55		%	9.29		%	0.48		%	3.32		%	1.48		%	1.56		%	2.16		%	2.15		%	1.84		%
Allowance for credit losses to loans, including covered loans	1.87		%	1.78		%	1.78		%	2.20		%	2.15		%	1.93		%	1.91		%	1.91		%	2.66		%	2.58		%	2.43		%	2.28		%	2.28		%

Footnotes:

(1) Tax equivalent basis reflects federal and state tax benefits.

(2) Annualized based on the actual number of days for each period presented.

(3) Excludes covered loans and covered OREO.