FMBI First Midwest Bancorp

First Midwest Bancorp, Inc. is a relationship-focused financial institution and one of the largest independent publicly traded bank holding companies based on assets headquartered in Chicago and the Midwest, with over $21 billion of assets and an additional $13 billion of assets under management. First Midwest Bank and the Company's other affiliates provide a full range of commercial, treasury management, equipment leasing, consumer, wealth management, trust and private banking products and services. First Midwest Bank operates branches and other locations throughout metropolitan Chicago, southeast Wisconsin, northwest Indiana, eastern Iowa and other markets in the Midwest.
Company profile
Ticker
FMBI, FMBIP, FMBIO
Exchange
Website
CEO
Michael Scudder
Employees
Incorporated
Location
Fiscal year end
Sector
Industry (SIC)
SEC CIK
Corporate docs
IRS number
363161078
FMBI stock data
()
News
Ex-Dividend Date Insight: First Midwest Bancorp
24 Mar 21
Stocks That Hit 52-Week Highs On Friday
12 Mar 21
Stocks That Hit 52-Week Highs On Monday
8 Mar 21
Raymond James Maintains Outperform on First Midwest Bancorp, Raises Price Target to $24
8 Mar 21
Stocks That Hit 52-Week Highs On Friday
5 Mar 21
Press releases
First Midwest Bancorp, Inc. Announces Schedule for 2021 First Quarter Earnings Release and Conference Call
8 Apr 21
First Midwest Bank Partners With 101.9 THE MIX to Honor Women-Owned Businesses
15 Mar 21
First Midwest Bancorp, Inc. (Illinois) to Host Earnings Call
27 Jan 21
First Midwest Bancorp, Inc. Announces 2020 Fourth Quarter and Full Year Results
26 Jan 21
First Midwest Provides Nearly $500,000 in Grants and Donations to Support Local Communities
25 Jan 21
Calendar
1 Mar 21
17 Apr 21
31 Dec 21
Financial summary
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Dec 20 | Dec 19 | Dec 18 | Dec 17 | |
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Financial data from company earnings reports.
Cash burn rate (estimated) | Burn method: Change in cash | Burn method: Operating income/loss | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 1.12B | 1.12B | 1.12B | 1.12B | 1.12B | 1.12B |
Cash burn (monthly) | 24.5M | (positive/no burn) | (positive/no burn) | (positive/no burn) | (positive/no burn) | (positive/no burn) |
Cash used (since last report) | 87.49M | n/a | n/a | n/a | n/a | n/a |
Cash remaining | 1.03B | n/a | n/a | n/a | n/a | n/a |
Runway (months of cash) | 42.0 | n/a | n/a | n/a | n/a | n/a |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
15 Mar 21 | Patrick Sean Barrett | Common Stock | Payment of exercise | Dispose F | No | No | 23.4462 | 1,875 | 43.96K | 79,478 |
15 Mar 21 | Patrick Sean Barrett | Common Stock | Grant | Aquire A | No | No | 23.4462 | 4,231 | 99.2K | 81,353 |
15 Mar 21 | Patrick Sean Barrett | Common Stock | Payment of exercise | Dispose F | No | No | 23.4462 | 3,418 | 80.14K | 77,122 |
15 Mar 21 | Boylan Jo Ann | Common Stock | Payment of exercise | Dispose F | No | No | 23.4462 | 577 | 13.53K | 37,042 |
15 Mar 21 | Boylan Jo Ann | Common Stock | Grant | Aquire A | No | No | 23.4462 | 1,302 | 30.53K | 37,619 |
15 Mar 21 | Boylan Jo Ann | Common Stock | Payment of exercise | Dispose F | No | No | 23.4462 | 382 | 8.96K | 36,317 |
15 Mar 21 | Boylan Jo Ann | Common Stock | Payment of exercise | Dispose F | No | No | 23.4462 | 465 | 10.9K | 36,699 |
15 Mar 21 | Chulos Nicholas J | Common Stock | Payment of exercise | Dispose F | No | No | 23.4462 | 595 | 13.95K | 62,630 |
15 Mar 21 | Chulos Nicholas J | Common Stock | Grant | Aquire A | No | No | 23.4462 | 1,342 | 31.46K | 63,225 |
15 Mar 21 | Chulos Nicholas J | Common Stock | Payment of exercise | Dispose F | No | No | 23.4462 | 395 | 9.26K | 61,883 |
Institutional ownership Q4 2020
Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.
81.5% owned by funds/institutions
13F holders |
Current |
---|---|
Total holders | 195 |
Opened positions | 35 |
Closed positions | 24 |
Increased positions | 69 |
Reduced positions | 54 |
13F shares |
Current |
---|---|
Total value | 1.48B |
Total shares | 93.13M |
Total puts | 0 |
Total calls | 0 |
Total put/call ratio | – |
Largest owners |
Shares | Value |
---|---|---|
BLK Blackrock | 16.67M | $265.33M |
Vanguard | 12.44M | $198.01M |
Fuller & Thaler Asset Management | 8.16M | $129.95M |
Dimensional Fund Advisors | 7.4M | $117.87M |
STT State Street | 4.57M | $73.42M |
MCQEF Macquarie | 4.43M | $70.56M |
Wellington Management | 3.61M | $57.43M |
PZN Pzena Investment Management | 2.64M | $42.07M |
NTRS Northern Trust | 2.38M | $37.95M |
PFG Principal Financial Group Inc - Registered Shares | 2.31M | $36.82M |
Financial report summary
?Competition
FintechManagement Discussion
- Net interest income was $579.6 million for 2020 compared to $588.5 million for 2019, a decrease of 1.5%. The decrease in net interest income resulted primarily from lower market rates on loans and securities primarily as a result of the pandemic and lower acquired loan accretion, partially offset by growth in loans and securities, the acquisition of interest-earning assets from the Park Bank transaction in March 2020, interest income and fees on PPP loans, and lower cost of funds.
- Acquired loan accretion contributed $29.5 million and $35.6 million to net interest income for 2020 and 2019, respectively.
- Tax-equivalent net interest margin was 3.18% for 2020, down 72 basis points from 2019. Excluding the impact of acquired loan accretion, tax-equivalent net interest margin was 3.02%, down 65 basis points from 2019. The decrease was driven primarily by lower interest rates on loans and securities primarily as a result of the pandemic, lower yields on PPP loans, as well as a higher balance of other interest-earning assets due to higher demand deposits as a result of PPP loan funds and other government stimuli, partially offset by lower cost of funds.
Content analysis
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H.S. sophomore Bad
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New words:
AMLA, ample, arose, ASC, Assembly, BSA, CECL, Codification, Connecticut, crime, curtailment, DEI, deployment, depositary, deter, dispersed, Dodd, domestic, efficacy, extraordinary, Feedback, FMBIO, FMBIP, focused, forgiven, Frank, GDP, gift, granular, hardship, hostile, Interagency, learning, length, linked, listening, lobby, modernization, modernize, navigate, notify, notional, online, onset, optimization, optimizing, pandemic, passed, Paycheck, PCD, Perpetual, PPP, PPPLF, predetermined, presidential, proliferation, pronounced, prorated, proximity, prudently, pulse, ranked, rebounded, recreation, reoccur, repossession, robust, SBA, sector, showed, SR, staffing, stimuli, stressed, stricter, strongly, survey, suspend, suspended, suspension, temporarily, tightening, town, traffic, training, turbulence, unencumbered, unprecedented, usage, viability, welfare
Removed:
adding, affiliated, Arlington, assigning, Banco, callable, clarifying, Council, coverage, creating, deductibility, discounting, distribute, Durbin, earliest, gradually, hybrid, indemnification, indemnified, initially, North, opportunistic, OTTI, percent, Person, Popular, population, regime, retrospectively, spur, systemically, Tool, transparency
Financial reports
10-K
2020 FY
Annual report
1 Mar 21
10-Q
2020 Q3
Quarterly report
3 Nov 20
10-Q
2020 Q2
Quarterly report
6 Aug 20
10-Q
2020 Q1
Quarterly report
8 May 20
10-K
2019 FY
Annual report
28 Feb 20
10-Q
2019 Q3
Quarterly report
6 Nov 19
10-Q
2019 Q2
Quarterly report
6 Aug 19
10-Q
2019 Q1
Quarterly report
9 May 19
10-K
2018 FY
Annual report
1 Mar 19
10-Q
2018 Q3
Quarterly report
6 Nov 18
Current reports
8-K
Departure of Directors or Certain Officers
23 Feb 21
8-K
First Midwest Bancorp, Inc. Declares Quarterly Dividends
22 Feb 21
8-K
Presentation Materials February 2021
10 Feb 21
8-K
First Midwest Bancorp, Inc. Announces 2020 Fourth Quarter and Full Year Results
26 Jan 21
8-K
Regulation FD Disclosure
6 Nov 20
8-K
First Midwest Bancorp, Inc. Announces 2020 Third Quarter Results
20 Oct 20
8-K
First Midwest Announces Plans to Optimize
15 Oct 20
8-K
Regulation FD Disclosure
31 Aug 20
8-K
First Midwest Bancorp, Inc. Announces 2020 Second Quarter Results
21 Jul 20
8-K
Material Modifications to Rights of Security Holders
24 Jun 20
Registration and prospectus
8-A12B
Registration of securities on exchange
2 Jul 20
424B2
Prospectus for primary offering
18 Jun 20
FWP
Free writing prospectus
17 Jun 20
424B2
Prospectus for primary offering
17 Jun 20
8-A12B
Registration of securities on exchange
8 Jun 20
424B2
Prospectus for primary offering
14 May 20
FWP
Free writing prospectus
13 May 20
424B2
Prospectus for primary offering
13 May 20
S-3ASR
Automatic shelf registration
11 May 20
425
Business combination disclosure
13 Nov 19
Proxies
DEFA14A
Additional proxy soliciting materials
13 Apr 21
DEF 14A
Definitive proxy
13 Apr 21
DEFA14A
Additional proxy soliciting materials
7 May 20
DEF 14A
Definitive proxy
17 Apr 20
DEFA14A
Additional proxy soliciting materials
4 Apr 19
DEF 14A
Definitive proxy
4 Apr 19
DEF 14A
Definitive proxy
10 Apr 18
DEFA14A
Additional proxy soliciting materials
10 Apr 18
DEF 14A
Definitive proxy
10 Apr 17
DEFA14A
Additional proxy soliciting materials
10 Apr 17
Other
EFFECT
Notice of effectiveness
12 Nov 19
CORRESP
Correspondence with SEC
6 Nov 19
UPLOAD
Letter from SEC
24 Oct 19
EFFECT
Notice of effectiveness
8 Apr 19
CORRESP
Correspondence with SEC
3 Apr 19
EFFECT
Notice of effectiveness
22 Aug 18
CORRESP
Correspondence with SEC
20 Aug 18
UPLOAD
Letter from SEC
9 Aug 18
EFFECT
Notice of effectiveness
26 Oct 16
CORRESP
Correspondence with SEC
24 Oct 16
Ownership
4
FIRST MIDWEST BANCORP / James V Stadler ownership change
17 Mar 21
4
FIRST MIDWEST BANCORP / MICHAEL L SCUDDER ownership change
17 Mar 21
4
FIRST MIDWEST BANCORP / Mark G Sander ownership change
17 Mar 21
4
FIRST MIDWEST BANCORP / Angela L Putnam ownership change
17 Mar 21
4
FIRST MIDWEST BANCORP / Thomas M Prame ownership change
17 Mar 21
4
FIRST MIDWEST BANCORP / Jeff C Newcom ownership change
17 Mar 21
4
FIRST MIDWEST BANCORP / Michael W Jamieson ownership change
17 Mar 21
4
FIRST MIDWEST BANCORP / James P Hotchkiss ownership change
17 Mar 21
4
FIRST MIDWEST BANCORP / Nicholas J Chulos ownership change
17 Mar 21
4
FIRST MIDWEST BANCORP / Jo Ann Boylan ownership change
17 Mar 21
Transcripts
2020 Q3
Earnings call transcript
21 Oct 20
2020 Q2
Earnings call transcript
22 Jul 20
2020 Q1
Earnings call transcript
2 May 20
2019 Q4
Earnings call transcript
22 Jan 20
2019 Q3
Earnings call transcript
23 Oct 19
2019 Q2
Earnings call transcript
24 Jul 19
2019 Q1
Earnings call transcript
24 Apr 19
2018 Q4
Earnings call transcript
23 Jan 19
2018 Q3
Earnings call transcript
24 Oct 18
2018 Q2
Earnings call transcript
25 Jul 18
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