First Midwest Bancorp, Inc. · Itasca, IL United States ·(NASDAQ (GS): FMBI)
Company Description
Phone: 630-875-7450
Fax: 630-875-7369
Rankings
- S&P 600
View First Midwest Bancorp, Inc. Locations On A US Map
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This link will open in a new window There's a lot of cabbage in corn country. Just ask First Midwest Bancorp, parent of First Midwest Bank. Through about 100 branches, the bank mainly serves suburban Chicago, though its market extends into central and western Illinois and neighboring portions of Iowa and Indiana. Focusing on area small to midsized businesses, it offers deposit products, loans, wealth management, and retirement plan services; it has approximately $3.5 billion of client trust and investment assets under management. Commercial real estate loans account for more than half of the company's portfolio; commercial and industrial loans are around 30%. To read the full description, subscribe now.
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Key First Midwest Bancorp, Inc. Financials
| Company Type | Public - NASDAQ (GS): FMBI Headquarters |
| Fiscal Year-End | December |
| 2008 Sales (mil.) | $300.6 |
| 2008 Employees | 1,794 |
First Midwest Bancorp, Inc. Executives
21 executives listed for First Midwest Bancorp, Inc.'s Itasca, IL location.
| Title | Name & Bio | Contact |
| Chairman | Robert O'Meara | Network |
| President, CEO, and Director; EVP, First Midwest Bank | Michael Scudder | Network |
| EVP and CFO | Paul Clemens | Network |
Competition
Competitive Landscape for First Midwest Bancorp, Inc.
Demand for banking services is closely tied to economic activity and the level of interest rates. The profitability of individual banks depends on marketing skills, efficient operations, and good risk management. Large economies of scale exist in some segments of the industry, which has encouraged industry consolidation. Smaller banks can compete successfully in segments where customer service or knowledge of the local market is more important. The industry is capital-intensive and highly automated: annual revenue per employee is close to $300,000. Many banks and thrifts aggressively offered adjustable rate and subprime mortgages during the housing boom of the early 2000s only to find themselves saddled with loan defaults and extensive losses when the housing bubble burst. Deep exposure to subprime mortgages and mortgage-backed securities caused bank failures, government takeovers, and involuntary mergers. To read the full description, subscribe now.Top First Midwest Bancorp, Inc. Competitors
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