Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - FIRST MIDWEST BANCORP INC | d8k.htm |
| EX-99.1 - PRESS RELEASE - FIRST MIDWEST BANCORP INC | dex991.htm |
 August
16, 2010 First Midwest Bancorp, Inc.
Summary of Acquisition:
Palos Bank and Trust Company
Exhibit 99.2 |
 2
2
2
2
Forward Looking Statements
Forward Looking Statements
This presentation may contain, and during this presentation our management may
make statements
that
may
constitute
“forward-looking
statements”
within
the
meaning
of
the
safe
harbor provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements
are
not
historical
facts
but
instead
represent
only
our
beliefs
regarding
future
events,
many
of
which,
by
their
nature,
are
inherently
uncertain
and
outside
our
control.
Forward-looking
statements
include,
among
other
things,
statements
regarding
our
financial
performance,
business prospects, future growth and operating strategies, objectives and
results. Actual results,
performance
or
developments
could
differ
materially
from
those
expressed
or
implied
by
these
forward-looking
statements.
Important
factors
that
could
cause
actual
results
to
differ
from
those
in
the
forward-looking
statements
include,
among
others,
those
discussed
in
our
Annual
Report
on
Form
10-K
and
other
reports
filed
with
the Securities
and
Exchange
Commission,
copies
of
which
will
be
made
available
upon
request. The information contained herein is
unaudited. Except
as
required
by
law,
we
undertake
no
duty
to
update
the
contents
of
this
presentation
after the date of this presentation. |
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3
Palos Bank and Trust Company
Key Acquisition Metrics
(1)
(Dollars in millions)
(1)
Using
most
recent
company
financial
information
provided
by
FDIC
in
June
2010
(2)
Equity
share
instrument
capped
at
25%
appreciation
180
days
from
closing
date
(3) FDIC will reimburse bank for 70% of net losses on covered assets up to
$117 million, and 80% of such losses should aggregate losses exceed $117 million Closing
date 8/13/10
Transaction size
Assets
460
$
Loans
337
$
OREO
18
$
Deposits
470
$
Branch Locations
5
Key purchase terms
Covered assets
355
$
Asset discount
6.5%
Deposit premium
1.0%
Value appreciation instrument
(2)
100K
FDIC loss share
(3)
70%/30% |
 4
4
Transaction Rationale
Valuable, Community Based Franchise
50 year market presence; leading share
Desirable market
Relationship focus = cultural fit
Full product set
Attractive Core Deposit Base
47%
core
(non-time)
deposits
(vs.
24%
average
(1)
)
Appealing branch network
No brokered and low jumbo time deposits
Composition of Deposits
CDs
53%
Demand
15%
Savings
11%
Money Mkt.
15%
NOW / Other
6%
(1)
Average
for
other
Illinois
FDIC
assisted
transactions
since
January
1,
2010 |
 5
5
Transaction Rationale
Solid Pre-Tax Pre-Provision Earnings
Median of $6.1 million or 2.3% of risk weighted assets since 2001
In Market
Enhances southeastern footprint
Similar product lines facilitate retention
Proximity generates tangible efficiencies
Financially Sound
Accretive, solid returns
Nominal capital impact |
 6
6
Pro Forma Branch Map
Source: SNL
FMBI Branches
Palos B&T Branches |