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First Midwest Bancorp, Inc. (NASDAQ: FMBI) has announced its schedule for the 2020 second quarter earnings release and conference call. The earnings release will occur on Tuesday, July 21, 2020, after market close, available via GlobeNewswire and the company's website. The conference call is set for Wednesday, July 22, 2020, at 11:00 A.M. ET, accessible through telephone and online broadcast. Investors can dial in or access web replay until August 5, 2020. First Midwest operates with approximately $20 billion in assets and $11 billion under management.
First Midwest Bancorp has priced an underwritten public offering of 4,400,000 depositary shares, each representing a 1/40th interest in its 7.000% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series C. The aggregate offering price is $110 million, with the offering expected to close on June 24, 2020. The company aims to use net proceeds for general corporate purposes and plans to list the depositary shares on Nasdaq under the symbol 'FMBIO.' Underwriters have a 30-day option to purchase an additional 660,000 shares.
First Midwest Bancorp appoints Ellen A. Rudnick as Lead Independent Director, effective immediately. Rudnick succeeds J. Stephen Vanderwoude, who will continue serving as a board member. With a board member since 2005, Rudnick brings valuable experience in leadership and corporate governance, according to CEO Michael L. Scudder. Vanderwoude's prior contributions were acknowledged, ensuring continuity of his insights. First Midwest, a regional financial institution based in Chicago, oversees approximately $20 billion in assets.
On May 19, 2020, First Midwest Bancorp announced a quarterly cash dividend of $0.14 per share, payable on July 7, 2020. This marks the 150th consecutive cash dividend since the company's inception in 1983. First Midwest, headquartered in Chicago, operates with approximately $20 billion in assets and manages an additional $11 billion. The company offers a variety of financial services across the Midwest, including commercial and private banking.
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First Midwest Bancorp has announced an underwritten public offering of 4,000,000 depositary shares, each representing 1/40th ownership in its 7.000% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A. The offering is priced at an aggregate of $100 million, with a closing date expected on May 20, 2020. Additionally, underwriters have a 30-day option to purchase up to 600,000 additional depositary shares. Proceeds will be used for general corporate purposes, and the shares are set to be listed on Nasdaq under the symbol 'FMBIP.'
First Midwest Bancorp, Inc. has announced that its 2020 annual meeting of stockholders will take place virtually on May 20, 2020, at 9:00 a.m. Central time. Stockholders of record on March 27, 2020, can access the meeting via www.meetingcenter.io/253702787 using the password FMBI2020 and their control number found on their proxy card. Guests can listen in on the meeting. A replay of the meeting will be available on First Midwest's Investor Relations website after the event.
With about $20 billion in assets, First Midwest is a major financial institution in the Midwest.
First Midwest Bancorp, headquartered in Chicago, announced its 2020 Annual Meeting of Stockholders will occur virtually on May 20, 2020, at 9:00 a.m. Central time due to the COVID-19 pandemic. Stockholders of record by March 27, 2020, can attend online by entering a control number. Voting can be done via Internet, telephone, or mail prior to the meeting to ensure shares are counted. First Midwest, with approximately $20 billion in assets, provides a full range of financial services through its affiliates across the Midwest.
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