Exhibit 12

First Midwest Bancorp, Inc.

Ratio of Earnings to Fixed Charges(1)

	Three Months Ended March 31,						Years ended December 31,
	2004			2003			2003			2002			2001			2000			1999
	(Dollar amounts in thousands)						(Dollar amounts in thousands)
Ratio 1—Including Interest on Deposits
Earnings available for fixed charges:
Income from continuing operations	$	24,032		$	22,730		$	92,778		$	90,150		$	82,138		$	75,540		$	70,909
Add:
Income tax provision		8,109			7,807			30,889			32,133			26,668			23,759			24,520
Fixed charges		20,673			22,573			81,964			111,498			181,439			232,597			169,313
Total earnings available for fixed charges	$	52,814		$	53,110		$	205,631		$	233,781		$	290,245		$	331,896		$	264,742
Fixed charges(2):
Interest on deposits	$	13,669		$	15,169		$	56,272		$	81,616		$	134,497		$	155,887		$	129,177
Interest on borrowed funds		4,817			7,255			23,962			29,294			46,341			76,019			39,438
Interest on subordinated debt—trust preferred securities		2,014			—			1,079			—			—			—			—
Portion of rental expense representative of interest factor		173			149			651			588			601			691			698
Total fixed charges	$	20,673		$	22,573		$	81,964		$	111,498		$	181,439		$	232,597		$	169,313
Ratio of earnings to fixed charges		2.55	x		2.35	x		2.51	x		2.10	x		1.60	x		1.43	x		1.56	x
Ratio 2—Excluding Interest on Deposits
Earnings available for fixed charges:
Income from continuing operations	$	24,032		$	22,730		$	92,778		$	90,150		$	82,138		$	75,540		$	70,909
Add:
Income tax provision		8,109			7,807			30,889			32,133			26,668			23,759			24,520
Fixed charges		7,004			7,404			25,692			29,882			46,942			76,710			40,136
Total earnings available for fixed charges	$	39,145		$	37,941		$	149,359		$	152,165		$	155,748		$	176,009		$	135,565
Fixed charges(2):
Interest on borrowed funds	$	4,817		$	7,255		$	23,962		$	29,294		$	46,341		$	76,019		$	39,438
Interest on subordinated debt—trust preferred securities		2,014			—			1,079			—			—			—			—
Portion of rental expense representative of interest factor		173			149			651			588			601			691			698
Total fixed charges	$	7,004		$	7,404		$	25,692		$	29,882		$	46,942		$	76,710		$	40,136
Ratio of earnings to fixed charges		5.59	x		5.12	x		5.81	x		5.09	x		3.32	x		2.29	x		3.38	x

(1) The ratio of earnings to fixed charges represents the number of times “fixed charges” are covered by “earnings.”

(2) “Fixed charges” consist of interest on outstanding debt plus one-third (the proportion deemed representative of the interest factor) of operating lease expense.