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) January 25, 2012

First Midwest Bancorp, Inc.

(Exact name of registrant as specified in its charter)

Delaware	0-10967	36-3161078
(State or other jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer 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:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-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

January 25, 2012

Item 2.02 Results of Operations and Financial Condition

On January 25, 2012, First Midwest Bancorp, Inc. (the “Company”) issued a press release announcing its earnings results for the quarter and full year ended December 31, 2011. This press release, dated January 25, 2012, is attached as Exhibit 99.1 to this report.

Item 7.01 Regulation FD Disclosure

The Company also has made the information attached hereto as Exhibits 99.2 available via its website at www.firstmidwest.com/aboutinvstor_selected.asp.

The information set forth in Items 2.02 and 7.01 of this Current Report on Form 8-K (including the text of the information attached hereto as Exhibits 99.1 and 99.2) is being furnished to, but not filed with, the Securities and Exchange Commission (“SEC”) and shall not be deemed incorporated by reference into any filing made by the Company with the SEC, except as shall be expressly set forth by specific reference in such filing. The Company is not undertaking any duty to update this information after the date of this Report.

Item 9.01 Financial Statements and Exhibits

(a) and (b) not applicable

(c) Exhibit Index:

99.1 Press Release issued by First Midwest Bancorp, Inc. dated January 25, 2012

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: January 25, 2012		/s/ CYNTHIA A. LANCE
		By: Cynthia A. Lance
		Executive Vice President and Corporate Secretary

EX-99.1

Exhibit 99.1

		News Release
		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 EVP and Chief Financial Officer (630) 875-7347 paul.clemens@firstmidwest.com	James M. Roolf Senior Vice President (815) 774-2071 jim.roolf@firstmidwest.com
TRADED:	NASDAQ Global Select Market
SYMBOL:	FMBI

FIRST MIDWEST BANCORP, INC. ANNOUNCES 2011

FOURTH QUARTER AND FULL YEAR RESULTS

Improved Fourth Quarter and Full Year Earnings – Total Loans Stable – Robust Capital –

Proactive Credit Remediation – Organizational Realignment

Operating Performance

• Net income applicable to common shares of $3.9 million, or $0.05 per share, compared to a net loss of $30.3 million, or $0.41 per share, for fourth quarter 2010 and net income of $6.3 million, or $0.09 per share, for third quarter 2011.

• Net income applicable to common shares of $25.4 million, or $0.35 per share, for full year 2011 up $45.1 million from a net loss of $19.7 million, or $0.27 per share, for full year 2010.

• Total loans, excluding covered loans, of $5.1 billion, stable compared to both December 31, 2010 and September 30, 2011, reflecting almost 5% annualized growth in commercial and industrial and owner-occupied other commercial real estate loans from September 30, 2011.

• Fee-based revenues of $23.9 million, up 6.6% from fourth quarter 2010 and seasonally down 2.3% from third quarter 2011.

Credit and Capital

• Non-accrual loans, excluding covered loans and covered OREO, of $187.3 million, declined 11.5% from December 31, 2010 and up 9.4% from September 30, 2011.

• Tier 1 common capital to risk-weighted assets of 10.26% as of December 31, 2011 compared to 9.81% at December 31, 2010 and 10.29% at September 30, 2011.

Significant Fourth Quarter Events

• Organizational realignment, reflecting the elimination of some 100 positions, resulted in severance-related costs of $2.0 million.

• Redeemed $193.0 million of TARP preferred shares and the related common stock warrant.

• Acquired $106.7 million in deposits resulting in a gain of $1.1 million.

• Recognized for second consecutive year in the Top 20 “Best Places to Work” in Chicago.

ITASCA, IL, January 25, 2012 – 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 fourth quarter and full year 2011. Net income for the quarter was $6.9 million, before adjustments for preferred dividends and non-vested restricted shares, with net income of $3.9 million, or $0.05 per share, applicable to common shares after such adjustments. This compares to a net loss of $28.2 million and a net loss applicable to common shares of $30.3 million, or $0.41 per share, for fourth quarter 2010 and net income of $8.9 million and net income applicable to common shares of $6.3 million, or $0.09 per share, for third quarter 2011.

For full year 2011, net income was $36.6 million, before adjustments for preferred dividends and non-vested restricted shares, with net income of $25.4 million, or $0.35 per share, applicable to common shares after such adjustments. This compares to a net loss of $9.7 million and a net loss applicable to common shares of $19.7 million, or $0.27 per share, for full year 2010.

	Quarters Ended									Years Ended
	December 31, 2011			September 30, 2011			December 31, 2010			December 31, 2011			December 31, 2010
	(Dollar amounts in thousands)
Operating Performance
Net income (loss)	$	6,924		$	8,942		$	(28,159	)	$	36,563		$	(9,684	)
Net income (loss) applicable to common shares	$	3,877		$	6,263		$	(30,327	)	$	25,437		$	(19,717	)
Diluted earnings (loss) per common share	$	0.05		$	0.09		$	(0.41	)	$	0.35		$	(0.27	)
Return on average common equity		1.60	%		2.60	%		(12.49	%)		2.69	%		(2.06	%)
Return on average assets		0.34	%		0.43	%		(1.34	%)		0.45	%		(0.12	%)
Pre-tax, pre-provision operating earnings (1)	$	31,581		$	33,112		$	34,998		$	129,853		$	136,406
Net interest margin		3.95	%		3.97	%		4.02	%		4.04	%		4.13	%
Efficiency ratio		64.76	%		60.57	%		59.08	%		62.12	%		58.84	%
Loans, including covered loans, at period end	$	5,348,615		$	5,394,241		$	5,472,289		$	5,348,615		$	5,472,289
Loans, excluding covered loans, at period end	$	5,088,113		$	5,104,494		$	5,100,560		$	5,088,113		$	5,100,560
Average transactional deposits (2)	$	4,866,776		$	4,876,261		$	4,590,489		$	4,755,111		$	4,322,136

⁽¹⁾  The Company’s accounting and reporting policies conform to U.S. generally accepted accounting principles (“GAAP”) and general practice within the banking industry. As a supplement to GAAP, the Company has provided this non-GAAP performance result. The Company believes that this non-GAAP financial measure is useful because it allows investors to assess the Company’s operating performance. Although this non-GAAP financial measure is intended to enhance investors’ understanding of the Company’s business and performance, this non-GAAP financial measure should not be considered an alternative to GAAP. A reconciliation of this measure to GAAP is presented on the following page.

⁽²⁾  Comprised of demand deposits and interest-bearing transactional accounts.

SUMMARY UPDATE

“I am very pleased with our overall performance for the year and in a very active fourth quarter,” said Michael L. Scudder, President and Chief Executive Officer of First Midwest Bancorp, Inc. “The results for the quarter and the year reflect both a return to profitability as well as the steady advancement of our strategic priorities.”

Mr. Scudder went on to say, “Net income improved by $45 million from 2010, as we benefited from continued, solid earnings and substantially lower credit costs. In a challenged business environment, consistent sales focus helped us to hold loan balances steady as we significantly reduced our exposure to troubled real estate lending categories. At the same time, transactional deposit growth has helped our margins remain near 4%, and our fee-based revenues expand. Our overall credit metrics are greatly improved from 2010 and, most notably, with actions taken during the quarter, we have reduced potential non-performing credits by almost 30% during this same period.”

Mr. Scudder closed, “Over the course of 2011, we significantly invested in our business, aligning our sales resources to areas of growth and opportunity. Concurrently, we have and will continue to implement operating efficiencies as we transition to an improved credit environment and better leverage our operating systems and processes. With TARP behind us and economic recovery progressing, we are well positioned to pursue opportunities for growth, navigate the changing regulatory landscape, and, most importantly, help our clients achieve financial success in 2012.”

2

REPAYMENT OF TARP

In November 2011, the Company redeemed all of the $193.0 million Series B preferred stock issued to the United States Department of the Treasury (the “Treasury”) under the U.S. government’s Troubled Asset Relief Program (“TARP”), which resulted in the acceleration of $1.5 million in discount accretion. The Company funded the redemption through a combination of existing liquid assets and proceeds from the completion of a $115.0 million senior debt offering. The notes, which have an interest rate of 5.875%, payable semi-annually, will mature in November 2016.

In a related transaction, the Company redeemed the Treasury’s associated warrant to purchase up to 1,305,230 shares of the Company’s common stock. In December 2011, the Company paid $900,000 to the Treasury to redeem the warrant, which concluded the Company’s participation in TARP.

DEPOSIT ACQUISITION

In December 2011, the Company completed the purchase of certain Chicago-market deposits from Old National Bank of Evansville, Indiana (“Old National”). The transaction included $106.7 million in deposits (comprised of $70.6 million in transactional deposits and $36.1 in time deposits) and one banking facility located in our Chicago market. As a result of the transaction, the Company recorded a net gain of $1.1 million.

OPERATING PERFORMANCE

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

(Dollar amounts in thousands)

	Quarters Ended									Years Ended
	December 31, 2011			September 30, 2011			December 31, 2010			December 31, 2011			December 31, 2010
Income (loss) before income tax	$	7,220		$	10,525		$	(53,225	)	$	41,071		$	(38,228	)
Provision for loan losses		21,902			20,425			73,897			80,582			147,349
Pre-tax, pre-provision earnings		29,122			30,950			20,672			121,653			109,121
Adjustments to Pre-Tax, Pre-Provision Earnings
Securities (losses) gains, net		(110	)		449			1,662			2,410			12,216
Gain on Federal Deposit Insurance Corporation (“FDIC”)-assisted transaction		—			—			—			—			4,303
Gain on acquisition of deposits		1,076			—			—			1,076			—
Losses on sales and write-downs of OREO		(1,425	)		(2,611	)		(15,412	)		(9,686	)		(40,480	)
Integration costs associated with FDIC- assisted transactions		—			—			(576	)		—			(3,324	)
Severance-related costs		(2,000	)		—			—			(2,000	)		—
Total adjustments		(2,459	)		(2,162	)		(14,326	)		(8,200	)		(27,285	)
Pre-tax, pre-provision operating earnings (1)	$	31,581		$	33,112		$	34,998		$	129,853		$	136,406

⁽¹⁾  The Company’s accounting and reporting policies conform to GAAP and general practice within the banking industry. As a supplement to GAAP, the Company has provided this non-GAAP performance result. The Company believes that this non-GAAP financial measure is useful because it allows investors to assess the Company’s operating performance. Although this non-GAAP financial measure is intended to enhance investors’ understanding of the Company’s business and performance, this non-GAAP financial measure should not be considered an alternative to GAAP.

Pre-tax, pre-provision operating earnings decreased by $3.4 million from fourth quarter 2010 to fourth quarter 2011 driven by a decline in net interest income, which is discussed in the Net Interest Income and Margin Analysis section, and a $1.3 million correction of a 2010 actuarial pension expense calculation related to the valuation of future early retirement benefits, which was recorded in fourth quarter 2011.

Compared to third quarter 2011, pre-tax, pre-provision operating earnings were down $1.5 million due primarily to the correction of the 2010 actuarial pension expense calculation.

3

For full year 2011, pre-tax, pre-provision operating earnings were down $6.6 million, or 4.8%, compared to 2010 as a result of higher loan remediation costs, increased salaries related to the expansion of commercial, retail, and wealth management sales staff, and the correction of the 2010 actuarial pension expense calculation, partially offset by a $7.4 million increase in fee-based revenues.

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

Net Interest Income and Margin Analysis

(Dollar amounts in thousands)

	Quarters Ended
	December 31, 2011							September 30, 2011							December 31, 2010
	Average Balance			Interest		Yield/ Rate (%)		Average Balance			Interest		Yield/ Rate (%)		Average Balance			Interest		Yield/ Rate (%)
Assets:
Federal funds sold and other short-term investments investments	$	718,631		$	450		0.25	$	741,782		$	463		0.25	$	595,509		$	386		0.26
Trading securities		13,420			92		2.74		16,248			23		0.57		13,882			99		2.85
Investment securities (1)		1,069,844			11,224		4.20		1,057,075			11,604		4.39		1,139,127			13,568		4.76
Federal Home Loan Bank (“FHLB”) and Federal Reserve Bank stock		58,187			341		2.34		58,187			331		2.28		61,703			347		2.25
Loans, excluding covered loans (1)		5,085,792			63,202		4.93		5,136,130			64,509		4.98		5,155,416			64,387		4.95
Covered interest-earning assets (2)		343,479			6,787		7.84		387,635			6,640		6.80		480,612			7,431		6.13
Total loans		5,429,271			69,989		5.11		5,523,765			71,149		5.11		5,636,028			71,818		5.06
Total interest-earning assets (1)		7,289,353			82,096		4.47		7,397,057			83,570		4.49		7,446,249			86,218		4.60
Cash and due from banks		116,166							120,624							128,919
Allowance for loan losses		(133,824	)						(143,443	)						(157,145	)
Other assets		870,808							855,542							896,611
Total assets	$	8,142,503						$	8,229,780						$	8,314,634
Liabilities and Stockholders’ Equity:
Interest-bearing transaction deposits	$	3,253,555			1,029		0.13	$	3,306,590			1,361		0.16	$	3,242,301			1,930		0.24
Time deposits		1,688,995			4,933		1.16		1,731,413			5,293		1.21		2,069,389			5,977		1.15
Borrowed funds		252,839			670		1.05		262,001			706		1.07		281,050			711		1.00
Senior and subordinated debt		187,488			3,047		6.45		137,749			2,280		6.57		137,743			2,279		6.56
Total interest-bearing liabilities		5,382,877			9,679		0.71		5,437,753			9,640		0.70		5,730,483			10,897		0.75
Demand deposits		1,613,221							1,569,671							1,348,188
Total funding sources		6,996,098							7,007,424							7,078,671
Other liabilities		73,721							73,808							79,700
Stockholders’ equity—common		961,500							955,548							963,263
Stockholders’ equity—preferred		111,184							193,000							193,000
Total liabilities and stockholders’ equity	$	8,142,503						$	8,229,780						$	8,314,634
Net interest income/margin (1)				$	72,417		3.95				$	73,930		3.97				$	75,321		4.02

⁽¹⁾  Interest income and yields are presented on a tax-equivalent basis, assuming a federal income tax rate of 35%.

⁽²⁾  Covered interest-earning assets consist of loans acquired through the Company’s FDIC-assisted transactions and the related FDIC indemnification asset.

Average interest-earning assets for fourth quarter 2011 decreased $156.9 million, or 2.1%, from fourth quarter 2010 and $107.7 million, or 1.5%, compared to third quarter 2011. The decline for both periods was due to a decline in average loans and covered interest-earning assets.

Average funding sources for fourth quarter 2011 was $82.6 million, or 1.2%, lower than fourth quarter 2010 and $11.3 million, or 0.2%, lower than third quarter 2011. The declines for both periods resulted from a drop in average time deposits. However, demand deposits increased from both prior periods presented, including approximately $23 million of average deposits acquired in a December 2011 transaction, which resulted in a more favorable product mix.

The growth in average senior and subordinated debt for fourth quarter 2011 compared to both the prior year and prior quarter periods reflects the issuance of senior debt, which was used to redeem the Series B preferred stock issued to the Treasury. Interest paid on the new senior debt reduced net interest margin by 4 basis points.

4

Tax-equivalent net interest margin for fourth quarter 2011 was 3.95%, a decline of 7 basis points from fourth quarter 2010 and 2 basis points from third quarter 2011. The drop from the prior year was primarily due to the impact of lower average loans and deposits invested in low-yielding short-term investments. The linked-quarter variance was due to funding costs associated with the new senior debt.

Interest earned on covered loans is generally recognized through the accretion of the discount taken on expected future cash flows. The increase in the yields on covered interest-earning assets for the 2011 periods compared to 2010 was due to adjustments in accretable income based upon (i) revised cash flow estimates subsequent to acquisition and (ii) actual cash realized in excess of estimates upon final settlement of certain covered loans.

Noninterest Income Analysis

(Dollar amounts in thousands)

	Quarters Ended									December 31, 2011 Percent Change From
	December 31, 2011			September 30, 2011			December 31, 2010			September 30, 2011			December 31, 2010
Service charges on deposit accounts	$	9,957		$	10,215		$	9,202			(2.5	)		8.2
Trust and investment advisory fees		4,044			3,946			4,040			2.5			0.1
Other service charges, commissions, and fees		4,885			5,325			4,506			(8.3	)		8.4
Card-based fees		4,971			4,931			4,640			0.8			7.1
Total fee-based revenues		23,857			24,417			22,388			(2.3	)		6.6
Bank-owned life insurance (“BOLI”) income		241			1,479			696			(83.7	)		(65.4	)
Other income		652			598			451			9.0			44.6
Total operating revenues		24,750			26,494			23,535			(6.6	)		5.2
Trading gains (losses), net		919			(2,352	)		970			N/M			N/M
Gains on securities sales, net		649			626			1,718			N/M			N/M
Securities impairment losses		(759	)		(177	)		(56	)		N/M			N/M
Gain on acquisition of deposits		1,076			—			—			N/M			N/M
Total noninterest income	$	26,635		$	24,591		$	26,167			8.3			1.8

N/M – Not meaningful.

Fee-based revenues for fourth quarter 2011 grew 6.6% compared to fourth quarter 2010 and declined 2.3% compared to third quarter 2011, reflecting normal seasonality. For full year 2011, fee-based revenues grew by $7.4 million, or 8.6%.

BOLI income decreased for fourth quarter 2011 compared to both prior periods presented as the Company received benefit settlements of $1.2 million during third quarter 2011 and $417,000 during fourth quarter 2010.

Trading gains (losses), net result from the change in fair value of diversified asset securities held in a grantor trust under deferred compensation agreements. These net trading gains (losses) are substantially offset by an adjustment to salaries and wages for each period presented.

5

Noninterest Expense Analysis

(Dollar amounts in thousands)

	Quarters Ended						December 31, 2011 Percent Change From
	December 31, 2011		September 30, 2011		December 31, 2010		September 30, 2011			December 31, 2010
Salaries and wages (1)	$	27,588	$	22,957	$	26,517		20.2			4.0
Retirement and other employee benefits(1)(2)		7,632		6,225		4,511		22.6			69.2
Total compensation expense		35,220		29,182		31,028		20.7			13.5
Write-downs of OREO		476		674		11,957		(29.4	)		(96.0	)
Losses on sales of OREO, net		949		1,937		3,455		(51.0	)		(72.5	)
OREO operating expense, net		1,540		1,563		2,408		(1.5	)		(36.0	)
Total OREO expense		2,965		4,174		17,820		(29.0	)		(83.4	)
Loan remediation costs		4,846		4,638		2,330		4.5			108.0
Other professional services (1)		3,180		2,933		2,194		8.4			44.9
Total professional services		8,026		7,571		4,524		6.0			77.4
Net occupancy and equipment expense		7,681		8,157		7,916		(5.8	)		(3.0	)
Technology and related costs		2,876		2,709		3,209		6.2			(10.4	)
FDIC premiums		1,758		1,799		2,967		(2.3	)		(40.7	)
Advertising and promotions		1,239		2,502		1,637		(50.5	)		(24.3	)
Other expenses		6,826		8,082		7,973		(15.5	)		(14.4	)
Total noninterest expense	$	66,591	$	64,176	$	77,074		3.8			(13.6	)

⁽¹⁾  In fourth quarter 2011, the Company recorded a $2.0 million charge for severance-related costs from an organizational realignment that included $1.6 million in salaries and wages, $96,000 in retirement and other employee benefits, and $274,000 in other professional services.

⁽²⁾  Retirement and other employee benefits include the $1.3 million correction of a 2010 actuarial pension expense calculation related to the valuation of future early retirement benefits.

Total noninterest expense for fourth quarter 2011 declined 13.6% from fourth quarter 2010 and increased 3.8% compared to third quarter 2011.

Fourth quarter 2011 salaries and wages increased by $4.6 million compared to third quarter 2011 as a result of a $3.9 million variance related to changes in the fair value of trading securities held on behalf of plan participants and the compensation costs from an organizational realignment, partially offset by reductions in short-term incentive and share-based compensation. The organizational realignment reduced some 100 positions across the Company. Specifically, about 50 open positions were closed and another 50 filled positions were eliminated.

The $1.3 million correction of the 2010 actuarial pension expense calculation drove the increase in retirement and other employee benefits from third quarter 2011 to fourth quarter 2011.

The increase in retirement and other employee benefits from fourth quarter 2010 to fourth quarter 2011 was impacted by higher profit sharing expense, employee insurance, and payroll taxes attributed to increased sales staff, and the correction of the 2010 actuarial pension expense calculation.

OREO expenses for fourth quarter 2011 declined 83.4% from fourth quarter 2010 and 29.0% from third quarter 2011 due to continued remediation efforts. Fourth quarter 2010 OREO expenses were elevated due to higher levels of write-downs and losses on sales of OREO and related operating expenses.

6

An increase in real estate taxes paid to preserve our rights to collateral associated with problem loans, as well as higher legal fees incurred to remediate problem credits, drove higher levels of loan remediation costs compared to both prior periods presented.

FDIC premiums decreased compared to fourth quarter 2010 primarily due to a change in regulatory requirements for calculating the premium.

LOAN PORTFOLIO AND ASSET QUALITY

Loan Portfolio Composition

(Dollar amounts in thousands)

	As Of						December 31, 2011 Percent Change From
	December 31, 2011		September 30, 2011		December 31, 2010		September 30, 2011			December 31, 2010
Corporate:
Commercial and industrial	$	1,458,446	$	1,476,034	$	1,465,903		(1.2	)		(0.5	)
Agricultural		243,776		250,436		227,756		(2.7	)		7.0
Commercial real estate:
Office		444,368		440,641		396,836		0.8			12.0
Retail		334,034		330,160		328,751		1.2			1.6
Industrial		520,680		492,514		478,026		5.7			8.9
Multi-family		288,336		317,313		349,862		(9.1	)		(17.6	)
Residential construction		105,836		116,283		174,690		(9.0	)		(39.4	)
Commercial construction		144,909		145,889		164,472		(0.7	)		(11.9	)
Other commercial real estate		888,146		877,241		856,357		1.2			3.7
Total commercial real estate		2,726,309		2,720,041		2,748,994		0.2			(0.8	)
Total corporate loans		4,428,531		4,446,511		4,442,653		(0.4	)		(0.3	)
Consumer:
Home equity loans		416,194		424,986		445,243		(2.1	)		(6.5	)
1-4 family mortgages		201,099		189,587		160,890		6.1			25.0
Installment loans		42,289		43,410		51,774		(2.6	)		(18.3	)
Total consumer loans		659,582		657,983		657,907		0.2			0.3
Total loans, excluding covered loans		5,088,113		5,104,494		5,100,560		(0.3	)		(0.2	)
Covered loans		260,502		289,747		371,729		(10.1	)		(29.9	)
Total loans	$	5,348,615	$	5,394,241	$	5,472,289		(0.8	)		(2.3	)

A lower balance of covered loans acquired through the Company’s previous FDIC-assisted transactions drove the decline in total loans of $123.7 million, or 2.3%, from December 31, 2010 to December 31, 2011.

Total loans, excluding covered loans, as of December 31, 2011 were stable compared to December 31, 2010. The office, retail, and industrial and other commercial real estate portfolios exhibited 6.2% growth during this period, substantially in the form of owner-occupied business relationships. Offsetting this progress, efforts to reduce lending exposure to more troubled real estate categories contributed to declines in the multi-family and construction loan portfolios.

Total loans, including covered loans, of $5.3 billion as of December 31, 2011 were consistent with September 30, 2011. Annualized growth of 10% in office, retail, and industrial and other commercial real estate loans was offset by a decline in the commercial and industrial, multi-family, and residential construction loan portfolios as well as a decline in covered loans. Approximately two-thirds of the growth in office, retail, and industrial loans represents owner-occupied credits.

7

Asset Quality, Excluding Covered Loans and Covered OREO ⁽¹⁾

(Dollar amounts in thousands)

	As Of									December 31, 2011 Percent Change From
	December 31, 2011			September 30, 2011			December 31, 2010			September 30, 2011			December 31, 2010
Non-accrual loans (2)	$	187,325		$	171,189		$	211,782			9.4			(11.5	)
90 days or more past due loans		9,227			6,008			4,244			53.6			117.4
Total non-performing loans		196,552			177,197			216,026			10.9			(9.0	)
Troubled debt restructurings (still accruing interest)		17,864			7,033			22,371			154.0			(20.1	)
Other real estate owned		33,975			23,863			31,069			42.4			9.4
Total non-performing assets	$	248,391		$	208,093		$	269,466			19.4			(7.8	)
30-89 days past due loans	$	27,495		$	34,061		$	23,646			(19.3	)		16.3
Allowance for credit losses	$	121,962		$	131,291		$	145,072			(7.1	)		(15.9	)
Non-accrual loans to total loans		3.68	%		3.35	%		4.15	%
Non-performing loans to total loans		3.86	%		3.47	%		4.24	%
Non-performing assets to loans plus OREO		4.85	%		4.06	%		5.25	%
Allowance for credit losses to loans		2.40	%		2.57	%		2.84	%
Allowance for credit losses to non-performing loans		62	%		74	%		67	%

⁽¹⁾  Covered loans and covered OREO were acquired through transactions with the FDIC and are subject to loss sharing agreements with the FDIC whereby the Company is indemnified against the majority of any losses incurred on these assets.

⁽²⁾  Includes $15.8 million in troubled debt restructurings with non-accrual status as of December 31, 2011.

Non-performing assets, excluding covered loans and covered OREO, were $248.4 million at December 31, 2011, dropping $21.1 million, or 7.8%, from December 31, 2010 and increasing $40.3 million, or 19.4%, from September 30, 2011. The reduction in non-performing assets from December 31, 2010 to December 31, 2011 was largely due to management’s remediation activities. During the year ended December 31, 2011, the Company had gross reductions of non-performing assets totaling $110.8 million, consisting of $80.3 million in non-accrual loans that were sold, paid off, or transferred to held-for-sale and $30.5 million in OREO properties that were sold.

The linked quarter increase in non-performing assets was largely attributed to two borrower relationships aggregating $48.0 million. After careful monitoring of borrower financial condition, these credits, both of which were performing in accordance with contractual terms, were positioned for accelerated resolution in an effort to mitigate loss exposure. In one circumstance, a commercial borrowing relationship totaling $33.9 million was transferred to non-accrual. In the other situation, a performing $14.1 million multi-family credit was modified in a troubled debt restructuring. In combination, these actions resulted in charge-offs totaling $7.0 million during the fourth quarter.

Potential non-performing loans, consisting of special mention and substandard loans, totaled $403.2 million as of December 31, 2011, down $152.7 million, or 27.5%, from $556.0 million as of December 31, 2010 and $91.6 million, or 18.5%, from $494.8 million as of September 30, 2011. The declines from both periods presented reflect management’s progress in remediating problem loans and the overall improvement in the quality of the loan portfolio.

8

Charge-off Data

(Dollar amounts in thousands)

	Quarters Ended
	December 31, 2011			% of Total		September 30, 2011			% of Total		December 31, 2010			% of Total
Net loans charged-off:
Commercial and industrial	$	8,910			32.3	$	10,165			36.4	$	10,198			13.9
Agricultural		484			1.8		177			0.6		125			0.2
Office, retail, and industrial		3,779			13.7		2,543			9.1		2,888			4.0
Multi-family		4,803			17.4		2,170			7.8		1,206			1.7
Residential construction		2,498			9.1		2,250			8.1		35,935			49.3
Commercial construction		1,673			6.1		4,115			14.7		7,743			10.6
Other commercial real estate		3,002			10.9		4,421			15.8		12,202			16.7
Consumer		2,395			8.7		2,100			7.5		2,612			3.6
Total net loans charged-off, excluding covered loans		27,544			100.0		27,941			100.0		72,909			100.0
Net charge-offs on covered loans		3,687					1,024					935
Total net charge-offs	$	31,231				$	28,965				$	73,844
Net loan charge-offs to average loans, excluding covered loans, annualized:
Quarter-to-date		2.15	%				2.16	%				5.61	%
Year-to-date		1.84	%				1.73	%				2.80	%

Net charge-offs for fourth quarter 2011, excluding charge-offs related to covered loans, were $27.5 million, down 62.2% from $72.9 million for fourth quarter 2010 and relatively flat compared to $27.9 million for third quarter 2011. The elevated level of charge-offs for fourth quarter 2010 related to a shift in disposition strategy primarily for certain construction loans to more aggressively pursue disposition.

9

CAPITAL MANAGEMENT

Capital Ratios

(Dollar amounts in thousands)

	December 31, 2011			September 30, 2011			December 31, 2010			Regulatory Minimum For “Well- Capitalized			Excess Over Required Minimums at December 31, 2011
Regulatory capital ratios:
Total capital to risk-weighted assets		13.68	%		16.81	%		16.27	%		10.00	%		37	%	$	229,842
Tier 1 capital to risk-weighted assets		11.61	%		14.74	%		14.20	%		6.00	%		94	%	$	350,392
Tier 1 leverage to average assets		9.28	%		11.64	%		11.21	%		5.00	%		86	%	$	334,181
Regulatory capital ratios, excluding preferred stock (1):
Total capital to risk-weighted assets		13.68	%		13.72	%		13.21	%		10.00	%		37	%	$	229,842
Tier 1 capital to risk-weighted assets		11.61	%		11.65	%		11.15	%		6.00	%		94	%	$	350,392
Tier 1 leverage to average assets		9.28	%		9.20	%		8.80	%		5.00	%		86	%	$	334,181
Tier 1 common capital to risk- weighted assets (2)(3)		10.26	%		10.29	%		9.81	%		N/A	(3)		N/A	(3)		N/A	(3)
Tangible common equity ratios:
Tangible common equity to tangible assets		8.83	%		8.35	%		8.06	%		N/A	(3)		N/A	(3)		N/A	(3)
Tangible common equity, excluding other comprehensive loss, to tangible assets		9.00	%		8.49	%		8.41	%		N/A	(3)		N/A	(3)		N/A	(3)
Tangible common equity to risk- weighted assets		10.88	%		10.83	%		10.02	%		N/A	(3)		N/A	(3)		N/A	(3)

⁽¹⁾  These ratios exclude the impact of $193.0 million in preferred stock issued to the Treasury.

⁽²⁾  Excludes the impact of preferred shares and trust-preferred securities.

⁽³⁾  Ratio is not subject to formal Federal Reserve regulatory guidance.

The Company’s regulatory ratios as of December 31, 2011 exceeded all regulatory mandated ratios for characterization as “well-capitalized.”

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 100 offices located in communities in metropolitan Chicago, northwest Indiana, central and western Illinois, and eastern Iowa. First Midwest was recently recognized as having the “Highest Customer Satisfaction with Retail Banking in the Midwest” according to the J.D. Power and Associates 2011 Retail Banking Satisfaction Study^SM. The Bank was also recognized by the Chicago Tribune for the second straight year as one of the top 20 best places to work in Chicago among large employers.

Safe Harbor Statement

This press release contains “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, 2010 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. Except as required by law, the Company undertakes no duty to update the contents of 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, January 25, 2012 at 10:00 A.M. (ET). Members of the public who would like to listen to the conference call should dial (877) 317-6789 (U.S. domestic) or (412) 317-6789 (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. 10008878 beginning one hour after completion of the live call until 8:00 A.M. (ET) on February 1, 2012. 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)

	December 31, 2011			September 30, 2011			December 31, 2010
Assets
Cash and due from banks	$	123,354		$	116,003		$	102,495
Interest-bearing deposits in other banks		518,176			946,330			483,281
Trading securities, at fair value		14,469			13,308			15,282
Securities available-for-sale, at fair value		1,013,006			970,430			1,057,802
Securities held-to-maturity, at amortized cost		60,458			74,375			81,320
Federal Home Loan Bank and Federal Reserve Bank stock, at cost		58,187			58,187			61,338
Loans, excluding covered loans		5,088,113			5,104,494			5,100,560
Covered loans		260,502			289,747			371,729
Allowance for loan losses		(119,462	)		(128,791	)		(142,572	)
Net loans		5,229,153			5,265,450			5,329,717
Other real estate owned (“OREO”), excluding covered OREO		33,975			23,863			31,069
Covered OREO		23,455			21,594			22,370
Federal Deposit Insurance Corporation (“FDIC”) indemnification asset		65,609			63,508			95,899
Premises, furniture, and equipment		134,977			132,425			140,907
Investment in bank-owned life insurance		206,235			205,886			197,644
Goodwill and other intangible assets		283,650			283,163			286,033
Accrued interest receivable and other assets		208,890			205,652			233,145
Total assets	$	7,973,594		$	8,380,174		$	8,138,302
Liabilities and Stockholders’ Equity
Deposits
Transactional deposits	$	4,820,058		$	4,899,216		$	4,519,492
Time deposits		1,659,117			1,727,392			1,991,984
Total deposits		6,479,175			6,626,608			6,511,476
Borrowed funds		205,371			386,429			303,974
Senior and subordinated debt		252,153			137,751			137,744
Accrued interest payable and other liabilities		74,308			76,953			73,063
Total liabilities		7,011,007			7,227,741			7,026,257
Preferred stock		—			191,393			190,882
Common stock		858			858			858
Additional paid-in capital		428,001			425,647			437,550
Retained earnings		810,487			807,857			787,678
Accumulated other comprehensive loss, net of tax		(13,276	)		(11,413	)		(27,739	)
Treasury stock, at cost		(263,483	)		(261,909	)		(277,184	)
Total stockholders’ equity		962,587			1,152,433			1,112,045
Total liabilities and stockholders’ equity	$	7,973,594		$	8,380,174		$	8,138,302

12

Condensed Consolidated Statements of Income

Unaudited

(Amounts in thousands, except per share data)

	Quarters Ended									Years Ended
	December 31, 2011			September 30, 2011			December 31, 2010			December 31, 2011			December 31, 2010
Interest Income
Loans	$	62,774		$	64,085		$	63,983		$	252,865		$	259,318
Investment securities		8,313			8,633			10,230			36,659			49,801
Covered loans		6,787			6,640			7,431			28,904			17,285
Federal funds sold and other short- term investments		883			817			832			3,083			2,463
Total interest income		78,757			80,175			82,476			321,511			328,867
Interest Expense
Deposits		5,962			6,654			7,907			27,256			37,127
Borrowed funds		670			706			711			2,743			3,267
Senior and subordinated debt		3,047			2,280			2,279			9,892			9,124
Total interest expense		9,679			9,640			10,897			39,891			49,518
Net interest income		69,078			70,535			71,579			281,620			279,349
Provision for loan losses		21,902			20,425			73,897			80,582			147,349
Net interest income after provision for loan losses		47,176			50,110			(2,318	)		201,038			132,000
Noninterest Income
Service charges on deposit accounts		9,957			10,215			9,202			37,879			35,884
Trust and investment advisory fees		4,044			3,946			4,040			16,224			15,063
Other service charges, commissions, and fees		4,885			5,325			4,506			20,486			18,238
Card-based fees		4,971			4,931			4,640			19,593			17,577
Total fee-based revenues		23,857			24,417			22,388			94,182			86,762
Bank-owned life insurance income		241			1,479			696			2,231			1,560
Securities (losses) gains, net		(110	)		449			1,662			2,410			12,216
Other		2,647			(1,754	)		1,421			3,114			8,013
Total noninterest income		26,635			24,591			26,167			101,937			108,551
Noninterest Expense
Salaries and employee benefits		35,220			29,182			31,028			128,774			114,378
OREO expense, net		2,965			4,174			17,820			16,293			50,034
Net occupancy and equipment expense		7,681			8,157			7,916			32,953			32,218
Technology and related costs		2,876			2,709			3,209			10,905			11,070
Professional services		8,026			7,571			4,524			26,356			22,903
FDIC premiums		1,758			1,799			2,967			7,990			10,880
Other		8,065			10,584			9,610			38,633			37,296
Total noninterest expense		66,591			64,176			77,074			261,904			278,779
Income (loss) before income tax expense (benefit)		7,220			10,525			(53,225	)		41,071			(38,228	)
Income tax expense (benefit)		296			1,583			(25,066	)		4,508			(28,544	)
Net income (loss)		6,924			8,942			(28,159	)		36,563			(9,684	)
Preferred dividends		(3,027	)		(2,586	)		(2,579	)		(10,776	)		(10,299	)
Net (income) loss applicable to non-vested restricted shares		(20	)		(93	)		411			(350	)		266
Net income (loss) applicable to common shares	$	3,877		$	6,263		$	(30,327	)	$	25,437		$	(19,717	)
Diluted earnings (loss) per common share	$	0.05		$	0.09		$	(0.41	)	$	0.35		$	(0.27	)
Dividends declared per common share	$	0.01		$	0.01		$	0.01			0.04			0.04
Weighted average diluted common shares outstanding		73,382			73,361			73,085			73,289			72,422

13

EX-99.2

Exhibit 99.2

First Midwest Bancorp, Inc.

Selected Financial Information

(Amounts in thousands, except per share data)

	2011															2010															2009			2008
	Dec. 31/YTD			4th Quarter			3rd Quarter			2nd Quarter			1st Quarter			Dec. 31/YTD			4th Quarter			3rd Quarter			2nd Quarter			1st Quarter			Dec. 31/YTD			Dec. 31/YTD
Period-End Balance Sheet
Cash and cash equivalents	$	641,530		$	641,530		$	1,062,333		$	711,469		$	526,460		$	585,776		$	585,776		$	735,945		$	373,080		$	126,914		$	127,379		$	114,308
Securities available-for-sale		1,013,006			1,013,006			970,430			1,009,873			1,057,758			1,057,802			1,057,802			1,058,609			1,090,109			1,152,039			1,266,760			2,216,186
Securities held-to-maturity		60,458			60,458			74,375			76,142			81,218			81,320			81,320			85,687			87,843			90,449			84,182			84,306
FHLB and FRB stock		58,187			58,187			58,187			58,187			61,338			61,338			61,338			62,038			59,864			59,428			56,428			54,767
Loans held-for-sale		4,200			4,200			4,620			1,595			3,800			236			236			1,168			—			—			—			—
Loans:
Commercial and industrial		1,458,446			1,458,446			1,476,034			1,518,772			1,493,465			1,465,903			1,465,903			1,472,439			1,494,119			1,454,714			1,438,063			1,490,101
Agricultural		243,776			243,776			250,436			237,518			234,898			227,756			227,756			212,800			199,597			200,527			209,945			216,814
Commercial real estate:
Office, retail, and industrial		1,299,082			1,299,082			1,263,315			1,229,100			1,205,880			1,203,613			1,203,613			1,215,649			1,220,191			1,239,583			1,212,965			1,025,241
Multi-family		288,336			288,336			317,313			336,138			344,645			349,862			349,862			350,458			369,281			348,178			333,961			286,963
Residential construction		105,836			105,836			116,283			129,327			151,887			174,690			174,690			226,126			241,094			276,322			313,919			509,059
Commercial construction		144,909			144,909			145,889			146,679			153,392			164,472			164,472			193,041			202,041			233,662			231,518			356,575
Other commercial real estate		888,146			888,146			877,241			852,966			850,334			856,357			856,357			837,877			831,723			790,502			798,983			729,329
1-4 family mortgages		201,099			201,099			189,587			185,002			178,538			160,890			160,890			150,110			145,457			139,840			139,983			198,197
Consumer		458,483			458,483			468,396			477,409			482,504			497,017			497,017			506,166			504,844			512,546			523,909			547,784
Total loans, excluding covered loans		5,088,113			5,088,113			5,104,494			5,112,911			5,095,543			5,100,560			5,100,560			5,164,666			5,208,347			5,195,874			5,203,246			5,360,063
Covered loans		260,502			260,502			289,747			314,942			349,446			371,729			371,729			396,121			164,924			144,369			146,319			—
Allowance for loan losses		(119,462	)		(119,462	)		(128,791	)		(137,331	)		(142,503	)		(142,572	)		(142,572	)		(144,569	)		(145,027	)		(144,824	)		(144,808	)		(93,869	)
Net loans		5,229,153			5,229,153			5,265,450			5,290,522			5,302,486			5,329,717			5,329,717			5,416,218			5,228,244			5,195,419			5,204,757			5,266,194
Other real estate owned		33,975			33,975			23,863			24,407			33,863			31,069			31,069			52,044			57,023			62,565			57,137			24,368
Covered other real estate owned		23,455			23,455			21,594			14,583			21,543			22,370			22,370			24,222			10,657			8,649			8,981			—
FDIC indemnification asset		65,609			65,609			63,508			95,752			85,386			95,899			95,899			95,641			75,991			54,591			67,945			—
Investment in bank owned life insurance		206,235			206,235			205,886			198,149			197,889			197,644			197,644			198,666			198,399			198,201			197,962			198,533
Goodwill and other intangible assets		283,650			283,650			283,163			284,120			284,785			286,033			286,033			287,173			281,255			280,477			281,479			284,548
Other assets		354,136			354,136			346,765			364,592			379,791			389,098			389,098			350,412			342,624			364,175			357,662			285,131
Total assets	$	7,973,594		$	7,973,594		$	8,380,174		$	8,129,391		$	8,036,317		$	8,138,302		$	8,138,302		$	8,367,823		$	7,805,089		$	7,592,907		$	7,710,672		$	8,528,341
Deposits:
Demand deposits	$	1,593,773		$	1,593,773		$	1,634,623		$	1,494,390		$	1,346,698		$	1,329,505		$	1,329,505		$	1,284,940		$	1,188,356		$	1,129,777		$	1,133,756		$	1,040,763
Interest bearing deposits		4,885,402			4,885,402			4,991,985			5,001,159			5,073,196			5,181,971			5,181,971			5,392,319			4,935,209			4,734,327			4,751,523			4,544,991
Total deposits		6,479,175			6,479,175			6,626,608			6,495,549			6,419,894			6,511,476			6,511,476			6,677,259			6,123,565			5,864,104			5,885,279			5,585,754
Borrowed funds		205,371			205,371			386,429			272,024			273,342			303,974			303,974			323,077			328,470			387,163			691,176			1,698,334
Senior and subordinated debt		252,153			252,153			137,751			137,748			137,746			137,744			137,744			137,741			137,739			137,737			137,735			232,409
Other liabilities		74,308			74,308			76,953			82,479			81,459			73,063			73,063			69,687			59,803			60,135			54,961			103,565
Stockholders’ equity		962,587			962,587			1,152,433			1,141,591			1,123,876			1,112,045			1,112,045			1,160,059			1,155,512			1,143,768			941,521			908,279
Total liabilities and stockholders’ equity	$	7,973,594		$	7,973,594		$	8,380,174		$	8,129,391		$	8,036,317		$	8,138,302		$	8,138,302		$	8,367,823		$	7,805,089		$	7,592,907		$	7,710,672		$	8,528,341
Stockholders’ equity, excluding OCI		975,863			975,863			1,163,846			1,156,930			1,148,249			1,139,784			1,139,784			1,169,262			1,168,315			1,162,646			960,187			926,321
Stockholders’ equity, common		962,587			962,587			959,433			948,591			930,876			919,045			919,045			967,059			962,512			950,768			748,521			715,949
Stockholders’ equity, common excluding OCI		975,863			975,863			970,846			963,930			955,249			946,784			946,784			976,262			975,315			969,646			767,187			733,991
Stockholders’ equity, preferred		—			—			193,000			193,000			193,000			193,000			193,000			193,000			193,000			193,000			193,000			192,330
Trust assets under management		4,391,946			4,391,946			4,309,813			4,498,428			4,583,213			4,467,917			4,467,917			4,272,051			3,982,468			3,994,772			3,801,609			3,527,028
Average Balance Sheet
Total assets	$	8,159,906		$	8,142,503		$	8,229,780		$	8,171,095		$	8,094,951		$	8,024,654		$	8,314,634		$	8,203,617		$	7,905,364		$	7,665,781		$	8,064,109		$	8,225,440
Investment securities		1,110,619			1,069,844			1,057,075			1,150,221			1,166,991			1,207,036			1,139,127			1,178,794			1,213,455			1,298,832			1,747,212			2,200,585
FHLB and FRB stock		59,352			58,187			58,187			59,745			61,338			60,249			61,703			60,998			59,758			58,495			55,081			54,767
Total loans, excluding covered loans		5,101,621			5,085,792			5,136,130			5,108,234			5,075,840			5,191,154			5,155,416			5,207,419			5,204,566			5,197,499			5,348,979			5,149,879
Covered loans and FDIC indemnification asset		398,559			343,479			387,635			420,108			444,242			323,595			480,612			367,727			233,907			208,663			28,049			—
Other earning assets		639,984			732,051			758,030			582,570			483,252			382,023			609,391			464,793			314,480			55,275			102,801			35,310
Total interest-earning assets		7,310,135			7,289,353			7,397,057			7,320,878			7,231,663			7,164,057			7,446,249			7,279,731			7,026,166			6,818,764			7,282,122			7,440,541
Deposits:
Demand deposits		1,498,900			1,613,221			1,569,671			1,465,438			1,342,013			1,224,629			1,348,188			1,242,257			1,181,097			1,124,320			1,061,208			1,043,972
Interest-bearing demand deposits		6			24			—			—			—			—															—			—
Savings deposits		934,937			952,962			940,151			944,802			901,205			815,371			864,334			832,672			803,353			759,786			751,386			792,524
NOW accounts		1,091,178			1,062,969			1,129,893			1,126,913			1,044,280			1,082,774			1,075,642			1,173,347			1,157,246			922,179			984,529			935,429
Money market deposits		1,230,090			1,237,600			1,236,546			1,205,736			1,240,439			1,199,362			1,302,325			1,226,314			1,155,889			1,110,519			937,766			787,218
Core transactional deposits		4,755,111			4,866,776			4,876,261			4,742,889			4,527,937			4,322,136			4,590,489			4,474,590			4,297,585			3,916,804			3,734,889			3,559,143
Time deposits		1,792,009			1,688,995			1,731,413			1,813,164			1,937,890			1,991,637			2,069,389			2,022,721			1,916,116			1,956,745			2,001,207			2,172,379
Total deposits		6,547,120			6,555,771			6,607,674			6,556,053			6,465,827			6,313,773			6,659,878			6,497,311			6,213,701			5,873,549			5,736,096			5,731,522
Borrowed funds		265,702			252,839			262,001			262,525			285,847			359,174			281,050			337,905			342,808			477,323			1,118,792			1,438,908
Senior and subordinated debt		150,285			187,488			137,749			137,747			137,745			137,739			137,743			137,740			137,738			137,736			208,621			231,961
Total funding sources		6,963,107			6,996,098			7,007,424			6,956,325			6,889,419			6,810,686			7,078,671			6,972,956			6,694,247			6,488,608			7,063,509			7,402,391
Stockholders’ equity		1,119,523			1,072,684			1,148,548			1,134,770			1,122,315			1,148,219			1,156,263			1,163,661			1,152,394			1,119,866			927,673			764,731
Stockholders’ equity, common		947,145			961,500			955,548			941,770			929,315			955,219			963,263			970,661			959,394			926,866			734,673			750,497
Stockholders’ equity, preferred		172,378			111,184			193,000			193,000			193,000			193,000			193,000			193,000			193,000			193,000			193,000			14,234

First Midwest Bancorp, Inc.

Selected Financial Information

(Amounts in thousands, except per share data)

	2011															2010															2009			2008
	Dec. 31/YTD			4th Quarter			3rd Quarter			2nd Quarter			1st Quarter			Dec. 31/YTD			4th Quarter			3rd Quarter			2nd Quarter			1st Quarter			Dec. 31/YTD			Dec. 31/YTD
Income Statement
Interest income	$	321,511		$	78,757		$	80,175		$	81,296		$	81,283		$	328,867		$	82,476		$	82,338		$	82,274		$	81,779		$	341,751		$	409,207
Interest expense		39,891			9,679			9,640			9,935			10,637			49,518			10,897			12,125			12,655			13,841			90,219			162,610
Net interest income		281,620			69,078			70,535			71,361			70,646			279,349			71,579			70,213			69,619			67,938			251,532			246,597
Provision for loan losses		80,582			21,902			20,425			18,763			19,492			147,349			73,897			33,576			21,526			18,350			215,672			70,254
Service charges on deposit accounts		37,879			9,957			10,215			9,563			8,144			35,884			9,202			9,249			9,052			8,381			38,754			44,987
Trust and investment advisory fees		16,224			4,044			3,946			4,118			4,116			15,063			4,040			3,728			3,702			3,593			14,059			15,130
Other service charges, commissions, and fees		20,486			4,885			5,325			5,362			4,914			18,238			4,506			4,932			4,628			4,172			16,529			18,846
Card-based fees		19,593			4,971			4,931			5,162			4,529			17,577			4,640			4,547			4,497			3,893			15,826			16,143
Total fee-based revenue		94,182			23,857			24,417			24,205			21,703			86,762			22,388			22,456			21,879			20,039			85,168			95,106
Bank owned life insurance income		2,231			241			1,479			259			252			1,560			696			267			349			248			2,263			(2,369	)
Security gains (losses), net		2,410			(110	)		449			1,531			540			12,216			1,662			6,376			1,121			3,057			2,110			(35,611	)
Gains on FDIC-assisted transactions		—			—			—			—			—			4,303			—			—			4,303			—			13,071			—
Gain on acquisition of deposits		1,076			1,076			—			—			—			—			—			—			—			—			—			—
Gains on early extinguishment of debt		—			—			—			—			—			—			—			—			—			—			15,258			—
Other		2,038			1,571			(1,754	)		499			1,722			3,710			1,421			1,654			(342	)		977			5,132			(3,119	)
Total noninterest income		101,937			26,635			24,591			26,494			24,217			108,551			26,167			30,753			27,310			24,321			123,002			54,007
Salaries and employee benefits		128,774			35,220			29,182			31,554			32,818			114,378			31,028			29,926			26,540			26,884			106,548			99,910
Net occupancy and equipment expense		32,953			7,681			8,157			8,012			9,103			32,218			7,916			8,326			7,808			8,168			31,724			33,334
FDIC premiums		7,990			1,758			1,799			1,708			2,725			10,880			2,967			2,835			2,546			2,532			13,673			1,065
Losses realized on OREO		9,686			1,425			2,611			3,423			2,227			40,480			15,412			8,265			8,924			7,879			18,554			1,566
Other real estate expense, net		6,607			1,540			1,563			1,800			1,704			9,554			2,408			1,312			2,926			2,908			4,905			1,843
Other intangibles amortization		3,802			932			957			956			957			4,278			1,139			1,107			1,029			1,003			3,929			4,378
Other expenses		72,092			18,035			19,907			18,266			15,884			66,991			16,204			17,006			17,682			16,099			55,455			52,209
Total noninterest expense		261,904			66,591			64,176			65,719			65,418			278,779			77,074			68,777			67,455			65,473			234,788			194,305
Income before income tax		41,071			7,220			10,525			13,373			9,953			(38,228	)		(53,225	)		(1,387	)		7,948			8,436			(75,926	)		36,045
Income tax		4,508			296			1,583			2,720			(91	)		(28,544	)		(25,066	)		(3,972	)		139			355			(50,176	)		(13,291	)
Net income	$	36,563		$	6,924		$	8,942		$	10,653		$	10,044		$	(9,684	)	$	(28,159	)	$	2,585		$	7,809		$	8,081		$	(25,750	)	$	49,336
Net income applicable to common shares	$	25,437		$	3,362		$	6,434		$	8,144		$	7,497		$	(19,717	)	$	(30,327	)	$	11		$	5,171		$	5,428		$	(35,551	)	$	48,482
Basic earnings per common share	$	0.35		$	0.05		$	0.09		$	0.11		$	0.10		$	(0.27	)	$	(0.41	)	$	0.00		$	0.07		$	0.08		$	(0.71	)	$	1.00
Diluted earnings per common share	$	0.35		$	0.05		$	0.09		$	0.11		$	0.10		$	(0.27	)	$	(0.41	)	$	0.00		$	0.07		$	0.08		$	(0.71	)	$	1.00
Weighted average shares outstanding		73,289			73,379			73,361			73,259			73,151			72,422			73,085			73,072			73,028			70,469			50,034			48,462
Weighted average diluted shares outstanding		73,289			73,379			73,361			73,259			73,151			72,422			73,085			73,072			73,028			70,469			50,034			48,515
Tax equivalent adjustment (1)	$	13,818		$	3,339		$	3,395		$	3,517		$	3,567		$	16,312		$	3,742		$	4,053		$	4,265		$	4,252		$	19,658		$	22,225
Net interest income (FTE) (1)	$	295,438		$	72,417		$	73,930		$	74,878		$	74,213		$	295,661		$	75,321		$	74,266		$	73,884		$	72,190		$	271,190		$	268,822
Common stock and related per common share data:
Book value	$	12.93		$	12.93		$	12.88		$	12.74		$	12.49		$	12.40		$	12.40		$	13.06		$	13.00		$	12.84		$	13.66		$	14.72
Tangible book value		9.12			9.12			9.08			8.92			8.67			8.54			8.54			9.18			9.20			9.05			8.52			8.87
Dividends declared per share		0.040			0.010			0.010			0.010			0.010			0.040			0.010			0.010			0.010			0.010			0.040			1.155
Market price—period high		13.48			10.31			12.72			13.48			13.07			17.95			13.13			13.43			17.95			14.43			20.25			40.09
Market price—period low		6.89			6.89			7.22			11.05			10.79			9.26			9.26			10.72			12.10			10.37			5.94			13.56
Closing price at period end	$	10.13		$	10.13		$	7.32		$	12.29		$	11.79		$	11.52		$	11.52		$	11.53		$	12.16		$	13.55		$	10.89		$	19.97
Closing price to book value		0.8			0.8			0.6			1.0			0.9			0.9			0.9			0.9			0.9			1.1			0.8			1.4
Period end shares outstanding		74,435			74,435			74,485			74,473			74,543			74,096			74,096			74,057			74,049			74,046			54,793			48,630
Period end treasury shares		11,352			11,352			11,302			11,314			11,244			11,691			11,691			11,730			11,738			11,741			12,176			12,696
Number of shares repurchased		—			—			—			—			—			—			—			—			—			—			—			5
Common dividends	$	2,978		$	744		$	745		$	743		$	746		$	2,965		$	741		$	743		$	741		$	740		$	2,020		$	56,206
Preferred dividends	$	8,658		$	1,420		$	2,413		$	2,412		$	2,413		$	9,650		$	2,413		$	2,412		$	2,412		$	2,413		$	9,650		$	670
Other Key Ratios/Data:
Return on average common equity (2)		2.69	%		1.39	%		2.67	%		3.47	%		3.27	%		-2.06	%		-12.49	%		0.00	%		2.16	%		2.38	%		-4.84	%		6.46	%
Return on average assets (2)		0.45	%		0.34	%		0.43	%		0.52	%		0.50	%		-0.12	%		-1.34	%		0.13	%		0.40	%		0.43	%		-0.32	%		0.60	%
Net interest margin (1)		4.04	%		3.95	%		3.97	%		4.10	%		4.15	%		4.13	%		4.02	%		4.05	%		4.21	%		4.28	%		3.72	%		3.61	%
Yield on average earning assets (1)		4.59	%		4.47	%		4.49	%		4.64	%		4.75	%		4.82	%		4.60	%		4.72	%		4.94	%		5.10	%		4.96	%		5.80	%
Cost of funds		0.73	%		0.71	%		0.70	%		0.73	%		0.78	%		0.89	%		0.75	%		0.84	%		0.92	%		1.05	%		1.50	%		2.56	%
Efficiency ratio (1)		62.12	%		64.76	%		60.57	%		60.49	%		62.70	%		58.84	%		59.08	%		59.91	%		57.92	%		58.41	%		57.86	%		53.49	%
Net noninterest expense ratio (2)		2.00	%		1.99	%		1.93	%		2.00	%		2.09	%		2.33	%		2.51	%		2.15	%		2.31	%		2.34	%		1.76	%		1.27	%
Effective income tax rate		10.98	%		4.10	%		15.04	%		20.34	%		-0.91	%		74.67	%		47.09	%		286.37	%		1.75	%		4.21	%		66.09	%		-36.87	%
Full time equivalent employees—end of period		1,791			1,791			1,833			1,846			1,845			1,838			1,838			1,884			1,762			1,729			1,739			1,809
Number of bank offices		98			98			96			96			97			98			98			100			95			94			94			97
Number of automated teller machines		132			132			133			135			136			137			137			129			131			129			127			129

Note: Discussion of footnotes (1) and (2) are located at the end of this document.

First Midwest Bancorp, Inc.

Selected Financial Information

(Amounts in thousands, except per share data)

	2011															2010															2009			2008
	Dec. 31/YTD			4th Quarter			3rd Quarter			2nd Quarter			1st Quarter			Dec. 31/YTD			4th Quarter			3rd Quarter			2nd Quarter			1st Quarter			Dec. 31/YTD			Dec. 31/YTD
Pre-Tax, Pre-Provision Earnings
Income before income tax	$	41,071		$	7,220		$	10,525		$	13,373		$	9,953		$	(38,228	)	$	(53,225	)	$	(1,387	)	$	7,948		$	8,436		$	(75,926	)	$	36,045
Provision for credit losses		80,582			21,902			20,425			18,763			19,492			147,349			73,897			33,576			21,526			18,350			215,672			70,254
Pre-tax, pre-provision earnings		121,653			29,122			30,950			32,136			29,445			109,121			20,672			32,189			29,474			26,786			139,746			106,299
Non-operating items:
Security gains (losses), net		2,410			(110	)		449			1,531			540			12,216			1,662			6,376			1,121			3,057			2,110			(35,611	)
Gains on FDIC-assisted transactions		—			—			—			—			—			4,303			—			—			4,303			—			13,071			—
Gain on acquisition of deposits		1,076			1,076			—			—			—			—			—			—			—			—			—			—
Gains on early extinguishment of debt		—			—			—			—			—			—			—			—			—			—			15,258			—
BOLI write-downs		—			—			—			—			—			—			—			—			—			—			—			(10,360	)
Losses realized on OREO		(9,686	)		(1,425	)		(2,611	)		(3,423	)		(2,227	)		(40,480	)		(15,412	)		(8,265	)		(8,924	)		(7,879	)		(18,554	)		(1,566	)
Severence-related costs stemming from a reduction in workforce		(2,000	)		(2,000	)		—			—			—			—			—			—			—			—			—			—
Integration costs associated with FDIC- assisted transactions		—			—			—			—			—			(3,324	)		(576	)		(847	)		(1,772	)		(129	)		—			—
FDIC special deposit insurance assessment		—			—			—			—			—			—			—			—			—			—			(3,500	)		—
Total non-operating items		(8,200	)		(2,459	)		(2,162	)		(1,892	)		(1,687	)		(27,285	)		(14,326	)		(2,736	)		(5,272	)		(4,951	)		8,385			(47,537	)
Pre-tax, pre-provision operating earnings	$	129,853		$	31,581		$	33,112		$	34,028		$	31,132		$	136,406		$	34,998		$	34,925		$	34,746		$	31,737		$	131,361		$	153,836
Parent Company Data:
Parent investment in subsidiaries—end of period	$	1,135,894		$	1,135,894		$	1,181,190		$	1,174,139		$	1,190,525		$	1,173,342		$	1,173,342		$	1,216,074		$	1,204,551		$	1,188,859		$	1,008,836		$	921,548
Risk-Based Capital Data:
Preferred stock	$	—		$	—		$	191,393		$	191,220		$	191,050		$	190,882		$	190,882		$	190,716		$	190,553		$	190,392		$	190,233		$	189,617
Common stock		858			858			858			858			858			858			858			858			858			858			670			613
Accumulated paid in capital		428,001			428,001			425,647			424,877			422,405			437,550			437,550			436,774			435,605			434,704			252,322			210,698
Retained earnings		810,487			810,487			807,857			802,072			794,569			787,678			787,678			819,157			819,890			815,395			810,626			837,390
Treasury stock		(263,483	)		(263,483	)		(261,909	)		(262,097	)		(260,633	)		(277,184	)		(277,184	)		(278,243	)		(278,591	)		(278,703	)		(293,664	)		(311,997	)
Trust preferred securities		84,730			84,730			84,730			84,730			84,730			84,730			84,730			84,730			84,730			84,730			84,730			125,000
Minority interest		—			—			—			—			—			—			—			1			1			3			5			111
Unrealized loss on equity securities		—			—			—			—			—			—			—			—			—			—			—			(126	)
Intangible assets		(283,650	)		(283,650	)		(283,163	)		(284,120	)		(284,785	)		(286,033	)		(286,033	)		(287,173	)		(281,255	)		(280,477	)		(281,479	)		(284,548	)
Disallowed deferred tax assets		(52,080	)		(52,080	)		(44,858	)		(41,363	)		(43,392	)		(41,071	)		(41,071	)		(13,662	)		(1,761	)		—			—			—
Tier 1 capital		724,863			724,863			920,555			916,177			904,802			897,410			897,410			953,158			970,030			966,902			763,443			766,758
Tier 2 capital		129,098			129,098			129,277			129,595			130,033			130,351			130,351			131,564			130,949			131,114			131,836			182,675
Total capital	$	853,961		$	853,961		$	1,049,832		$	1,045,772		$	1,034,835		$	1,027,761		$	1,027,761		$	1,084,722		$	1,100,979		$	1,098,016		$	895,279		$	949,433
Risk-adjusted assets	$	6,241,191		$	6,241,191		$	6,244,066		$	6,261,926		$	6,291,984		$	6,317,744		$	6,317,744		$	6,416,082		$	6,361,397		$	6,372,521		$	6,424,597		$	6,609,359
Tier 1 common capital		640,133			640,133			642,825			638,447			627,072			619,680			619,680			675,428			692,300			689,172			485,713			449,428
Tangible common equity		678,937			678,937			676,270			664,471			646,091			633,012			633,012			679,886			681,257			670,291			467,042			431,401
Tangible common equity excluding OCI		692,213			692,213			687,683			679,810			670,464			660,751			660,751			689,089			694,060			689,169			485,708			449,443
Adjusted average assets		7,813,637			7,813,637			7,909,645			7,862,447			7,795,895			8,002,186			8,002,186			7,909,998			7,640,068			7,404,963			7,496,478			8,146,655
Total capital / risk-weighted assets		13.68	%		13.68	%		16.81	%		16.70	%		16.45	%		16.27	%		16.27	%		16.91	%		17.31	%		17.23	%		13.94	%		14.36	%
Tier 1 capital / risk-weighted assets		11.61	%		11.61	%		14.74	%		14.63	%		14.38	%		14.20	%		14.20	%		14.86	%		15.25	%		15.17	%		11.88	%		11.60	%
Leverage ratio		9.28	%		9.28	%		11.64	%		11.65	%		11.61	%		11.21	%		11.21	%		12.05	%		12.70	%		13.06	%		10.18	%		9.41	%
Tier 1 common capital / risk-weighted assets		10.26	%		10.26	%		10.29	%		10.20	%		9.97	%		9.81	%		9.81	%		10.53	%		10.88	%		10.81	%		7.56	%		6.79	%
Tangible common equity ratio		8.83	%		8.83	%		8.35	%		8.47	%		8.34	%		8.06	%		8.06	%		8.41	%		9.05	%		9.17	%		6.29	%		5.23	%
Tangible common equity ratio, excluding OCI		9.00	%		9.00	%		8.49	%		8.67	%		8.65	%		8.41	%		8.41	%		8.53	%		9.22	%		9.42	%		6.54	%		5.45	%
Tangible common equity / risk-weighted assets		10.88	%		10.88	%		10.83	%		10.61	%		10.27	%		10.02	%		10.02	%		10.60	%		10.71	%		10.52	%		7.27	%		6.53	%

First Midwest Bancorp, Inc.

Selected Financial Information

(Amounts in thousands, except per share data)

	2011															2010															2009			2008
	Dec. 31/YTD			4th Quarter			3rd Quarter			2nd Quarter			1st Quarter			Dec. 31/YTD			4th Quarter			3rd Quarter			2nd Quarter			1st Quarter			Dec. 31/YTD			Dec. 31/YTD
Asset Quality Performance Data:
Ending loans, excluding covered loans		5,088,113			5,088,113			5,104,494			5,112,911			5,095,543			5,100,560			5,100,560			5,164,666			5,208,347			5,195,874			5,203,246			5,360,063
Average loans, excluding covered loans		5,101,621			5,085,792			5,136,130			5,108,234			5,075,840			5,191,154			5,155,416			5,207,419			5,204,566			5,197,499			5,348,979			5,149,879
Non-accrual loans:
Commercial and industrial	$	44,152		$	44,152		$	30,507		$	44,393		$	54,561		$	50,088		$	50,088		$	40,955		$	39,942		$	38,095		$	28,193		$	15,586
Agricultural		1,019			1,019			2,977			1,009			1,171			2,497			2,497			3,495			1,139			2,532			2,673			12
Commercial real estate:
Office, retail, and industrial		30,043			30,043			24,728			16,567			16,753			19,573			19,573			21,721			17,170			18,204			21,396			2,533
Multi-family		6,487			6,487			18,196			23,385			6,787			6,203			6,203			6,813			7,904			8,349			12,486			1,387
Residential construction		18,076			18,076			20,911			23,576			36,326			52,122			52,122			61,050			71,148			93,412			112,798			97,060
Commercial construction		23,347			23,347			15,672			21,449			20,980			28,685			28,685			21,471			20,457			20,023			20,864			2,092
Other commercial real estate		51,447			51,447			45,727			36,984			38,732			40,605			40,605			44,516			21,950			21,806			32,357			4,822
1-4 family mortgages		5,322			5,322			4,648			4,577			3,362			3,902			3,902			3,310			5,706			5,826			5,819			857
Consumer		7,432			7,432			7,823			5,555			7,891			8,107			8,107			8,035			8,273			7,826			7,629			3,419
Total non-accrual loans		187,325			187,325			171,189			177,495			186,563			211,782			211,782			211,366			193,689			216,073			244,215			127,768
Loans past due 90 days and still accruing		9,227			9,227			6,008			6,502			5,231			4,244			4,244			9,136			6,280			7,995			4,079			36,999
Total non-performing loans		196,552			196,552			177,197			183,997			191,794			216,026			216,026			220,502			199,969			224,068			248,294			164,767
Restructured, accruing loans		17,864			17,864			7,033			14,529			14,120			22,371			22,371			11,002			9,030			5,168			30,553			7,344
Other real estate owned		33,975			33,975			23,863			24,407			33,863			31,069			31,069			52,044			57,023			62,565			57,137			24,368
Total non-performing assets		248,391			248,391			208,093			222,933			239,777			269,466			269,466			283,548			266,022			291,801			335,984			196,479
Loans past due 30-89 days and still accruing		27,495			27,495			34,061			30,424			28,927			23,646			23,646			41,590			32,012			28,018			37,912			116,206
Allowance for credit losses:
Allowance for loan losses	$	119,462		$	119,462		$	128,791		$	137,331		$	142,503		$	142,572		$	142,572		$	144,569		$	145,027		$	144,824		$	144,808		$	93,869
Reserve for unfunded commitments		2,500			2,500			2,500			2,500			2,500			2,500			2,500			450			450			—			—			—
Total allowance for credit losses		121,962			121,962			131,291			139,831			145,003			145,072			145,072			145,019			145,477			144,824			144,808			93,869
Loan loss provision		80,582			21,902			20,425			18,763			19,492			147,349			73,897			33,576			21,526			18,350			215,672			70,254
Net charge-offs by category:
Commercial and industrial		27,788			8,910			10,165			5,585			3,128			30,602			10,198			13,262			2,679			4,463			55,004			13,026
Agricultural		1,469			484			177			799			9			1,301			125			489			546			141			180			38
Commercial real estate:
Office, retail, and industrial		8,114			3,779			2,543			609			1,183			9,710			2,888			2,825			2,353			1,644			7,856			732
Multi-family		14,174			4,803			2,170			6,652			549			2,425			1,206			222			485			512			3,483			1,796
Residential construction		11,065			2,498			2,250			899			5,418			54,841			35,935			4,460			9,994			4,452			62,642			15,780
Commercial construction		6,182			1,673			4,115			133			261			8,356			7,743			228			115			270			3,220			—
Other commercial real estate		14,888			3,002			4,421			2,107			5,358			28,375			12,202			10,217			1,507			4,449			18,297			1,248
1-4 family mortgages		1,102			196			320			340			246			982			238			363			261			120			930			576
Consumer		8,999			2,199			1,780			2,703			2,317			8,918			2,374			1,979			2,282			2,283			13,121			4,989
Net charge-offs, excluding covered assets		93,781			27,544			27,941			19,827			18,469			145,510			72,909			34,045			20,222			18,334			164,733			38,185
Charge-offs on covered assets		9,911			3,687			1,024			4,108			1,092			1,575			935			(11	)		651			—			—			—
Total net charge-offs		103,692			31,231			28,965			23,935			19,561			147,085			73,844			34,034			20,873			18,334			164,733			38,185
Asset Quality ratios:
Non-accrual loans / loans		3.68	%		3.68	%		3.35	%		3.47	%		3.66	%		4.15	%		4.15	%		4.09	%		3.72	%		4.16	%		4.69	%		2.38	%
Non-performing loans / loans		3.86	%		3.86	%		3.47	%		3.60	%		3.76	%		4.24	%		4.24	%		4.27	%		3.84	%		4.31	%		4.77	%		3.07	%
Non-performing assets / loans plus OREO		4.85	%		4.85	%		4.06	%		4.34	%		4.67	%		5.25	%		5.25	%		5.44	%		5.05	%		5.55	%		6.39	%		3.65	%
Non-performing assets / tangible common equity plus allowance for credit losses		31.01	%		31.01	%		25.77	%		27.72	%		30.31	%		34.63	%		34.63	%		34.37	%		32.18	%		35.80	%		54.91	%		37.41	%
Non-accrual loans / total assets		2.35	%		2.35	%		2.04	%		2.18	%		2.32	%		2.60	%		2.60	%		2.53	%		2.48	%		2.85	%		3.17	%		1.50	%
Loan loss ratios:
Allowance for credit losses / loans		2.40	%		2.40	%		2.57	%		2.73	%		2.85	%		2.84	%		2.84	%		2.81	%		2.79	%		2.79	%		2.78	%		1.75	%
Allowance for credit losses / non-accrual loans		65.11	%		65.11	%		76.69	%		78.78	%		77.72	%		68.50	%		68.50	%		68.61	%		75.11	%		67.03	%		59.30	%		73.47	%
Allowance for credit losses / non-performing loans		62.05	%		62.05	%		74.09	%		76.00	%		75.60	%		67.15	%		67.15	%		65.77	%		72.75	%		64.63	%		58.32	%		56.97	%
Net charge-offs to average net loans		1.84	%		2.15	%		2.16	%		1.56	%		1.48	%		2.80	%		5.61	%		2.59	%		1.56	%		1.43	%		3.08	%		0.74	%

Footnotes:

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

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