ITASCA, Ill., Jan. 11, 2018 (GLOBE NEWSWIRE) -- First Midwest Bancorp, Inc. (“First Midwest”) (NASDAQ:FMBI), the holding company of First Midwest Bank, announced today expanded investments in its colleagues and communities.  These investments include the following:

• An increase in our minimum pay rate to $15 for hourly employees;
• A special bonus up to $1,035 to nearly 85% of our colleagues; and
• A $2 million contribution to the First Midwest Charitable Foundation.

“As we celebrate 35 years as First Midwest, our continuing investment in our colleagues, communities and business stands at the core of our success.  I am therefore very pleased to take these important actions,” said Michael L. Scudder, Chairman and Chief Executive Officer of First Midwest.  “The growth of our Company as well as the expected benefits from tax reform position us to reward our colleagues for their commitment and hard work as well as expand our investment in the communities in which we live and work.”

About First Midwest
First Midwest is a relationship-focused financial institution and one of the largest independent publicly-traded bank holding companies based on assets headquartered in the Midwest, with over $14 billion in assets and $10 billion in trust assets under management.  First Midwest’s principal subsidiary, First Midwest Bank, and other affiliates provide a full range of commercial, treasury management, equipment leasing, retail, wealth management, trust and private banking products and services through over 130 locations in metropolitan Chicago, northwest Indiana, central and western Illinois, and eastern Iowa. First Midwest’s common stock is traded on the NASDAQ Stock Market under the symbol FMBI.  First Midwest’s website is www.firstmidwest.com.

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