- Business
- First Midwest Bancorp, Inc. (FMBIP) operates as a bank holding company for First Midwest Bank, providing a comprehensive range of commercial and retail banking products and services; these include checking, NOW, money market, savings accounts and certificates of deposit; commercial, agricultural, commercial real estate, municipal, construction, home equity, personal, specialty, consumer secured and unsecured loans; treasury management services such as automated clearing house, lockbox, remote deposit capture, wire transfers, account reconciliation, controlled disbursement, positive pay, corporate credit cards, liquidity management and merchant services; wealth management, trust, fiduciary, executor, financial planning, investment advisory, employee benefit plans and private banking for high net worth individuals, retirement plans, foundations and endowments; as well as debit, ATM, credit cards, internet, mobile and telephone banking. The company, founded in 1982 and formerly headquartered in Chicago, Illinois, conducted operations across metropolitan Chicago, southeast Wisconsin, northwest Indiana, eastern Iowa, downstate Illinois and the Quad Cities region, serving commercial, industrial, agricultural, municipal and consumer customers. In a major strategic development, First Midwest Bancorp merged with Old National Bancorp in an all-stock merger of equals completed in February 2022, creating a premier Midwestern bank with over $45 billion in combined assets under the Old National name and dual headquarters in Evansville, Indiana, and Chicago, Illinois; FMBIP now represents depositary shares of Old National Bancorp's 7% perpetual preferred stock series A.