FMBI First Midwest Bancorp, Inc.
First Midwest Bancorp, Inc. is a bank holding company, which engages in the provision of commercial and retail banking services. It offers a full range of commercial, retail, treasury management, and wealth management products and services to commercial and industrial, agricultural, commercial real estate, municipal, and consumer customers. The company was founded in 1982 and is headquartered in Chicago, IL.
Company profile
Ticker
FMBI
Exchange
Website
CEO
Michael L. Scudder
Employees
Incorporated in
Location
Fiscal year end
Sector
Industry (SEC)
SEC CIK
Corporate docs
IRS number
363161078
FMBI stock data
()
Calendar
8 May 20
6 Jul 20
31 Dec 20
News
Company financial data Financial data
| Quarter | Mar 20 | Dec 19 | Sep 19 | Jun 19 | |
|---|---|---|---|---|---|
| Revenue | 170.23M | 176.6M | 181.96M | 177.68M | |
| Net income | 19.61M | 52.12M | 54.55M | 47.01M | |
| Diluted EPS | 0.18 | 0.47 | 0.49 | 0.43 | |
| Net profit margin | 11.52% | 29.51% | 29.98% | 26.46% | |
| Net change in cash | 182.39M | -176.45M | 149.02M | 63.89M | |
| Cash on hand | 481.61M | 299.22M | 475.67M | 326.65M |
| Annual | Dec 19 | Dec 18 | Dec 17 | Dec 16 | |
|---|---|---|---|---|---|
| Revenue | 698.74M | 582.49M | 509.72M | 378.33M | |
| Net income | 199.74M | 157.87M | 98.39M | 92.35M | |
| Diluted EPS | 1.82 | 1.52 | 0.96 | 1.14 | |
| Net profit margin | 28.59% | 27.10% | 19.30% | 24.41% | |
| Net change in cash | 9.96M | -57.31M | 84.42M | -119.05M | |
| Cash on hand | 299.22M | 289.26M | 346.57M | 262.15M |
Financial data from company earnings reports
Recent insider trades
| Date | Owner | Security | Transaction | Code | 10b5-1 | $Price | #Shares | $Value | #Remaining |
|---|---|---|---|---|---|---|---|---|---|
| 17 Jun 20 | Jamieson Michael W | Depositary Shares (Series C) | Buy | Aquire P | No | 25 | 4,000 | 100K | 4,000 |
| 17 Jun 20 | Rose R Douglas | Depositary Shares (Series C) | Buy | Aquire P | No | 25 | 1,400 | 35K | 1,400 |
| 17 Jun 20 | Scudder Michael L | Depositary Shares (Series C) | Buy | Aquire P | No | 25 | 4,000 | 100K | 4,000 |
| 17 Jun 20 | Van Arsdell Stephen C | Depositary Shares (Series C) | Buy | Aquire P | No | 25 | 2,000 | 50K | 2,000 |
| 17 Jun 20 | Vanderwoude J Stephen | Depositary Shares (Series C) | Buy | Aquire P | No | 25 | 1,000 | 25K | 1,000 |
Institutional ownership Q1 2020
80.6% owned by funds/institutions
13F holders |
Current |
|---|---|
| Total holders | 189 |
| Opened positions | 25 |
| Closed positions | 43 |
| Increased positions | 75 |
| Reduced positions | 57 |
13F shares |
Current |
|---|---|
| Total value | 3.86B |
| Total shares | 92.13M |
| Total puts | 0 |
| Total calls | 0 |
| Total put/call ratio | – |
Largest owners |
Shares | Value |
|---|---|---|
| BLK BlackRock | 16.05M | $212.41M |
| Vanguard | 11.98M | $158.49M |
| Dimensional Fund Advisors | 7.37M | $97.51M |
| Fuller & Thaler Asset Management | 6.97M | $92.3M |
| Wellington Management | 4.59M | $60.69M |
| STT State Street | 4.35M | $58.16M |
| MCQEF Macquarie | 4.09M | $54.1M |
| GS The Goldman Sachs Group, Inc. | 3.82M | $50.5M |
| NTRS Northern Trust | 2.49M | $32.96M |
| PZN Pzena Investment Management | 1.89M | $24.96M |
Financial report summary
?Management Discussion
- Net interest income was $588.5 million for 2019 compared to $516.6 million for 2018, an increase of 13.9%. The rise in net interest income resulted primarily from growth in loans and securities, the impact of higher market rates on loan and investment yields, higher acquired loan accretion, and the acquisition of interest-earning assets from the Bridgeview transaction in the second quarter of 2019 and the Northern States transaction in the fourth quarter of 2018, partially offset by higher cost of funds.
- Acquired loan accretion contributed $35.6 million and $19.5 million to net interest income for 2019 and 2018, respectively.
- Tax-equivalent net interest margin was 3.90% for 2019 consistent with 2018. Excluding the impact of acquired loan accretion, tax-equivalent net interest margin was 3.67%, down 8 basis points from 2018. The decrease was driven primarily by actions taken to reduce rate sensitivity and higher cost of funds, partially offset by the impact of higher yields on loans and securities.
Content analysis
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H.S. sophomore Bad
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New words:
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Removed:
adding, advertising, allocated, arrangement, benchmark, call, callable, capitalized, clarifying, closure, cloud, computing, connection, coverage, customized, decision, depended, diversity, earliest, exclusive, exercise, exercised, highest, hindsight, inclusion, initiated, larger, legislation, list, marketing, migration, Nonemployee, occurring, October, opportunistically, OTTI, overnight, par, percent, periodically, population, premium, recognize, recording, resolution, retrospectively, rolling, score, smaller, SOFR, thereof, therewith, transparency, Waukegan
Financial reports
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
7 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
10-Q
2018 Q2
Quarterly report
7 Aug 18
10-Q
2018 Q1
Quarterly report
7 May 18
10-K
2017 FY
Annual report
28 Feb 18
Current reports
8-K
Material Modifications to Rights of Security Holders
24 Jun 20
8-K
Entry into a Material Definitive Agreement
23 Jun 20
8-K
Other Events
28 May 20
8-K
Regulation FD Disclosure
27 May 20
8-K
Appoints Ellen a. Rudnick As Lead Independent Director
22 May 20
8-K
Submission of Matters to a Vote of Security Holders
22 May 20
8-K
Material Modifications to Rights of Security Holders
20 May 20
8-K
Regulation FD Disclosure
20 May 20
8-K
Entry into a Material Definitive Agreement
19 May 20
8-K
First Midwest Bancorp, Inc. Announces Change to Virtual 2020 Annual Meeting of Stockholders
7 May 20
Registration and prospectus
8-A12B
Registration of securities on exchange
2 Jul 20
424B2
Prospectus for primary offering
19 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
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
11 Apr 18
DEFA14A
Additional proxy soliciting materials
11 Apr 18
DEF 14A
Definitive proxy
11 Apr 17
DEFA14A
Additional proxy soliciting materials
11 Apr 17
PRE 14A
Preliminary proxy
27 Mar 17
DEF 14A
Definitive proxy
14 Apr 16
Other
EFFECT
Notice of effectiveness
12 Nov 19
CORRESP
Correspondence with SEC
7 Nov 19
UPLOAD
Letter from SEC
25 Oct 19
EFFECT
Notice of effectiveness
8 Apr 19
CORRESP
Correspondence with SEC
4 Apr 19
EFFECT
Notice of effectiveness
23 Aug 18
CORRESP
Correspondence with SEC
21 Aug 18
UPLOAD
Letter from SEC
10 Aug 18
EFFECT
Notice of effectiveness
27 Oct 16
CORRESP
Correspondence with SEC
25 Oct 16
Ownership
4
FIRST MIDWEST BANCORP / PHUPINDER GILL ownership change
18 Jun 20
4
FIRST MIDWEST BANCORP / Kathryn Hayley ownership change
18 Jun 20
4
FIRST MIDWEST BANCORP / PETER J HENSELER ownership change
18 Jun 20
4
FIRST MIDWEST BANCORP / ELLEN A RUDNICK ownership change
18 Jun 20
4
FIRST MIDWEST BANCORP / Mark G Sander ownership change
18 Jun 20
4
FIRST MIDWEST BANCORP / MICHAEL L SCUDDER ownership change
18 Jun 20
4
FIRST MIDWEST BANCORP / Arsdell Stephen C Van ownership change
18 Jun 20
4
FIRST MIDWEST BANCORP / J STEPHEN VANDERWOUDE ownership change
18 Jun 20
4
FIRST MIDWEST BANCORP / Michael W Jamieson ownership change
18 Jun 20
4
FIRST MIDWEST BANCORP / R Douglas Rose ownership change
18 Jun 20