Attached files
file | filename |
---|---|
8-K - 8-K - FIRST MIDWEST BANCORP INC | a12-10421_18k.htm |
EX-99.1 - EX-99.1 - FIRST MIDWEST BANCORP INC | a12-10421_1ex99d1.htm |
Exhibit 99.2
First Midwest Bancorp, Inc.
Selected Financial Information
(Amounts in thousands, except per share data)
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|
2012 |
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2011 |
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2010 |
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2009 |
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1st Quarter |
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Dec. 31/YTD |
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4th Quarter |
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3rd Quarter |
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2nd Quarter |
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1st Quarter |
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Dec. 31/YTD |
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4th Quarter |
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3rd Quarter |
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2nd Quarter |
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1st Quarter |
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Dec. 31/YTD |
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Period-End Balance Sheet |
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Assets: |
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Cash and cash equivalents |
|
$ |
486,373 |
|
$ |
641,530 |
|
$ |
641,530 |
|
$ |
1,062,333 |
|
$ |
711,469 |
|
$ |
526,460 |
|
$ |
585,776 |
|
$ |
585,776 |
|
$ |
735,945 |
|
$ |
373,080 |
|
$ |
126,914 |
|
$ |
127,379 |
|
Securities available-for-sale |
|
1,183,975 |
|
1,013,006 |
|
1,013,006 |
|
970,430 |
|
1,009,873 |
|
1,057,758 |
|
1,057,802 |
|
1,057,802 |
|
1,058,609 |
|
1,090,109 |
|
1,152,039 |
|
1,266,760 |
| ||||||||||||
Securities held-to-maturity |
|
56,319 |
|
60,458 |
|
60,458 |
|
74,375 |
|
76,142 |
|
81,218 |
|
81,320 |
|
81,320 |
|
85,687 |
|
87,843 |
|
90,449 |
|
84,182 |
| ||||||||||||
FHLB and FRB stock |
|
46,750 |
|
58,187 |
|
58,187 |
|
58,187 |
|
58,187 |
|
61,338 |
|
61,338 |
|
61,338 |
|
62,038 |
|
59,864 |
|
59,428 |
|
56,428 |
| ||||||||||||
Loans held-for-sale |
|
1,500 |
|
4,200 |
|
4,200 |
|
4,620 |
|
1,595 |
|
3,800 |
|
236 |
|
236 |
|
1,168 |
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|
|
|
|
|
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Commercial and industrial |
|
1,496,966 |
|
1,458,446 |
|
1,458,446 |
|
1,476,034 |
|
1,518,772 |
|
1,493,465 |
|
1,465,903 |
|
1,465,903 |
|
1,472,439 |
|
1,494,119 |
|
1,454,714 |
|
1,438,063 |
| ||||||||||||
Agricultural |
|
237,686 |
|
243,776 |
|
243,776 |
|
250,436 |
|
237,518 |
|
234,898 |
|
227,756 |
|
227,756 |
|
212,800 |
|
199,597 |
|
200,527 |
|
209,945 |
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Commercial real estate: |
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|
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Office, retail, and industrial |
|
1,366,899 |
|
1,299,082 |
|
1,299,082 |
|
1,263,315 |
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1,229,100 |
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1,205,880 |
|
1,203,613 |
|
1,203,613 |
|
1,215,649 |
|
1,220,191 |
|
1,239,583 |
|
1,212,965 |
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Multi-family |
|
301,356 |
|
288,336 |
|
288,336 |
|
317,313 |
|
336,138 |
|
344,645 |
|
349,862 |
|
349,862 |
|
350,458 |
|
369,281 |
|
348,178 |
|
333,961 |
| ||||||||||||
Residential construction |
|
99,768 |
|
105,836 |
|
105,836 |
|
116,283 |
|
129,327 |
|
151,887 |
|
174,690 |
|
174,690 |
|
226,126 |
|
241,094 |
|
276,322 |
|
313,919 |
| ||||||||||||
Commercial construction |
|
142,307 |
|
144,909 |
|
144,909 |
|
145,889 |
|
146,679 |
|
153,392 |
|
164,472 |
|
164,472 |
|
193,041 |
|
202,041 |
|
233,662 |
|
231,518 |
| ||||||||||||
Other commercial real estate |
|
829,005 |
|
888,146 |
|
888,146 |
|
877,241 |
|
852,966 |
|
850,334 |
|
856,357 |
|
856,357 |
|
837,877 |
|
831,723 |
|
790,502 |
|
798,983 |
| ||||||||||||
1-4 family mortgages |
|
217,729 |
|
201,099 |
|
201,099 |
|
189,587 |
|
185,002 |
|
178,538 |
|
160,890 |
|
160,890 |
|
150,110 |
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145,457 |
|
139,840 |
|
139,983 |
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Consumer |
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445,612 |
|
458,483 |
|
458,483 |
|
468,396 |
|
477,409 |
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482,504 |
|
497,017 |
|
497,017 |
|
506,166 |
|
504,844 |
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512,546 |
|
523,909 |
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Total loans, excluding covered loans |
|
5,137,328 |
|
5,088,113 |
|
5,088,113 |
|
5,104,494 |
|
5,112,911 |
|
5,095,543 |
|
5,100,560 |
|
5,100,560 |
|
5,164,666 |
|
5,208,347 |
|
5,195,874 |
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5,203,246 |
| ||||||||||||
Covered loans |
|
251,376 |
|
260,502 |
|
260,502 |
|
289,747 |
|
314,942 |
|
349,446 |
|
371,729 |
|
371,729 |
|
396,121 |
|
164,924 |
|
144,369 |
|
146,319 |
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Allowance for loan losses |
|
(116,264 |
) |
(119,462 |
) |
(119,462 |
) |
(128,791 |
) |
(137,331 |
) |
(142,503 |
) |
(142,572 |
) |
(142,572 |
) |
(144,569 |
) |
(145,027 |
) |
(144,824 |
) |
(144,808 |
) | ||||||||||||
Net loans |
|
5,272,440 |
|
5,229,153 |
|
5,229,153 |
|
5,265,450 |
|
5,290,522 |
|
5,302,486 |
|
5,329,717 |
|
5,329,717 |
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5,416,218 |
|
5,228,244 |
|
5,195,419 |
|
5,204,757 |
| ||||||||||||
Other real estate owned |
|
35,276 |
|
33,975 |
|
33,975 |
|
23,863 |
|
24,407 |
|
33,863 |
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31,069 |
|
31,069 |
|
52,044 |
|
57,023 |
|
62,565 |
|
57,137 |
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Covered other real estate owned |
|
16,990 |
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23,455 |
|
23,455 |
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21,594 |
|
14,583 |
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21,543 |
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22,370 |
|
22,370 |
|
24,222 |
|
10,657 |
|
8,649 |
|
8,981 |
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FDIC indemnification asset |
|
58,488 |
|
65,609 |
|
65,609 |
|
63,508 |
|
95,752 |
|
85,386 |
|
95,899 |
|
95,899 |
|
95,641 |
|
75,991 |
|
54,591 |
|
67,945 |
| ||||||||||||
Investment in bank owned life insurance |
|
206,304 |
|
206,235 |
|
206,235 |
|
205,886 |
|
198,149 |
|
197,889 |
|
197,644 |
|
197,644 |
|
198,666 |
|
198,399 |
|
198,201 |
|
197,962 |
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Goodwill and other intangible assets |
|
282,815 |
|
283,650 |
|
283,650 |
|
283,163 |
|
284,120 |
|
285,077 |
|
286,033 |
|
286,033 |
|
287,173 |
|
281,255 |
|
280,477 |
|
281,479 |
| ||||||||||||
Other assets |
|
340,772 |
|
354,136 |
|
354,136 |
|
346,765 |
|
364,592 |
|
379,791 |
|
389,098 |
|
389,098 |
|
350,412 |
|
342,624 |
|
364,175 |
|
357,662 |
| ||||||||||||
Total assets |
|
$ |
7,988,002 |
|
$ |
7,973,594 |
|
$ |
7,973,594 |
|
$ |
8,380,174 |
|
$ |
8,129,391 |
|
$ |
8,036,609 |
|
$ |
8,138,302 |
|
$ |
8,138,302 |
|
$ |
8,367,823 |
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$ |
7,805,089 |
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$ |
7,592,907 |
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$ |
7,710,672 |
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Liabilities and Stockholders Equity |
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Demand deposits |
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$ |
1,637,593 |
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$ |
1,593,773 |
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$ |
1,593,773 |
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$ |
1,634,623 |
|
$ |
1,494,390 |
|
$ |
1,346,698 |
|
$ |
1,329,505 |
|
$ |
1,329,505 |
|
$ |
1,284,940 |
|
$ |
1,188,356 |
|
$ |
1,129,777 |
|
$ |
1,133,756 |
|
Interest bearing deposits |
|
4,848,770 |
|
4,885,402 |
|
4,885,402 |
|
4,991,985 |
|
5,001,159 |
|
5,073,196 |
|
5,181,971 |
|
5,181,971 |
|
5,392,319 |
|
4,935,209 |
|
4,734,327 |
|
4,751,523 |
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Total deposits |
|
6,486,363 |
|
6,479,175 |
|
6,479,175 |
|
6,626,608 |
|
6,495,549 |
|
6,419,894 |
|
6,511,476 |
|
6,511,476 |
|
6,677,259 |
|
6,123,565 |
|
5,864,104 |
|
5,885,279 |
| ||||||||||||
Borrowed funds |
|
202,155 |
|
205,371 |
|
205,371 |
|
386,429 |
|
272,024 |
|
273,342 |
|
303,974 |
|
303,974 |
|
323,077 |
|
328,470 |
|
387,163 |
|
691,176 |
| ||||||||||||
Senior and subordinated debt |
|
231,106 |
|
252,153 |
|
252,153 |
|
137,751 |
|
137,748 |
|
137,746 |
|
137,744 |
|
137,744 |
|
137,741 |
|
137,739 |
|
137,737 |
|
137,735 |
| ||||||||||||
Other liabilities |
|
95,677 |
|
74,308 |
|
74,308 |
|
77,476 |
|
82,828 |
|
81,925 |
|
73,063 |
|
73,063 |
|
69,687 |
|
59,803 |
|
60,135 |
|
54,961 |
| ||||||||||||
Stockholders equity |
|
972,701 |
|
962,587 |
|
962,587 |
|
1,151,910 |
|
1,141,242 |
|
1,123,702 |
|
1,112,045 |
|
1,112,045 |
|
1,160,059 |
|
1,155,512 |
|
1,143,768 |
|
941,521 |
| ||||||||||||
Total liabilities and stockholders equity |
|
$ |
7,988,002 |
|
$ |
7,973,594 |
|
$ |
7,973,594 |
|
$ |
8,380,174 |
|
$ |
8,129,391 |
|
$ |
8,036,609 |
|
$ |
8,138,302 |
|
$ |
8,138,302 |
|
$ |
8,367,823 |
|
$ |
7,805,089 |
|
$ |
7,592,907 |
|
$ |
7,710,672 |
|
Stockholders equity, excluding OCI |
|
$ |
983,620 |
|
$ |
975,863 |
|
$ |
975,863 |
|
$ |
1,163,323 |
|
$ |
1,156,581 |
|
$ |
1,148,075 |
|
$ |
1,139,784 |
|
$ |
1,139,784 |
|
$ |
1,169,262 |
|
$ |
1,168,315 |
|
$ |
1,162,646 |
|
$ |
960,187 |
|
Stockholders equity, common |
|
972,701 |
|
962,587 |
|
962,587 |
|
958,910 |
|
948,242 |
|
930,702 |
|
919,045 |
|
919,045 |
|
967,059 |
|
962,512 |
|
950,768 |
|
748,521 |
| ||||||||||||
Stockholders equity, common excluding OCI |
|
983,620 |
|
975,863 |
|
975,863 |
|
970,323 |
|
963,581 |
|
955,075 |
|
946,784 |
|
946,784 |
|
976,262 |
|
975,315 |
|
969,646 |
|
767,187 |
| ||||||||||||
Stockholders equity, preferred |
|
|
|
|
|
|
|
193,000 |
|
193,000 |
|
193,000 |
|
193,000 |
|
193,000 |
|
193,000 |
|
193,000 |
|
193,000 |
|
193,000 |
| ||||||||||||
Trust assets under management |
|
4,614,994 |
|
4,376,734 |
|
4,376,734 |
|
4,309,813 |
|
4,498,428 |
|
4,583,213 |
|
4,467,917 |
|
4,467,917 |
|
4,272,051 |
|
3,982,468 |
|
3,994,772 |
|
3,801,609 |
| ||||||||||||
Average Balance Sheet |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Total assets |
|
$ |
7,957,191 |
|
$ |
8,159,906 |
|
$ |
8,142,503 |
|
$ |
8,229,780 |
|
$ |
8,171,095 |
|
$ |
8,094,951 |
|
$ |
8,024,654 |
|
$ |
8,314,634 |
|
$ |
8,203,617 |
|
$ |
7,905,364 |
|
$ |
7,665,781 |
|
$ |
8,064,109 |
|
Investment securities |
|
1,163,338 |
|
1,110,619 |
|
1,069,844 |
|
1,057,075 |
|
1,150,221 |
|
1,166,991 |
|
1,207,036 |
|
1,139,127 |
|
1,178,794 |
|
1,213,455 |
|
1,298,832 |
|
1,747,212 |
| ||||||||||||
FHLB and FRB stock |
|
52,531 |
|
59,352 |
|
58,187 |
|
58,187 |
|
59,745 |
|
61,338 |
|
60,249 |
|
61,703 |
|
60,998 |
|
59,758 |
|
58,495 |
|
55,081 |
| ||||||||||||
Total loans, excluding covered loans |
|
5,089,286 |
|
5,101,621 |
|
5,085,792 |
|
5,136,130 |
|
5,108,234 |
|
5,075,840 |
|
5,191,154 |
|
5,155,416 |
|
5,207,419 |
|
5,204,566 |
|
5,197,499 |
|
5,348,979 |
| ||||||||||||
Covered loans and FDIC indemnification asset |
|
318,569 |
|
398,559 |
|
343,479 |
|
387,635 |
|
420,108 |
|
444,242 |
|
323,595 |
|
480,612 |
|
367,727 |
|
233,907 |
|
208,663 |
|
28,049 |
| ||||||||||||
Other earning assets |
|
464,373 |
|
639,984 |
|
732,051 |
|
758,030 |
|
582,570 |
|
483,252 |
|
382,023 |
|
609,391 |
|
464,793 |
|
314,480 |
|
55,275 |
|
102,801 |
| ||||||||||||
Total interest-earning assets |
|
$ |
7,088,097 |
|
$ |
7,310,135 |
|
$ |
7,289,353 |
|
$ |
7,397,057 |
|
$ |
7,320,878 |
|
$ |
7,231,663 |
|
$ |
7,164,057 |
|
$ |
7,446,249 |
|
$ |
7,279,731 |
|
$ |
7,026,166 |
|
$ |
6,818,764 |
|
$ |
7,282,122 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Demand deposits |
|
$ |
1,591,198 |
|
$ |
1,498,900 |
|
$ |
1,613,221 |
|
$ |
1,569,671 |
|
$ |
1,465,438 |
|
$ |
1,342,013 |
|
$ |
1,224,629 |
|
$ |
1,348,188 |
|
$ |
1,242,257 |
|
$ |
1,181,097 |
|
$ |
1,124,320 |
|
$ |
1,061,208 |
|
Interest-bearing demand deposits |
|
386 |
|
6 |
|
24 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Savings deposits |
|
995,955 |
|
934,937 |
|
952,962 |
|
940,151 |
|
944,802 |
|
901,205 |
|
815,371 |
|
864,334 |
|
832,672 |
|
803,353 |
|
759,786 |
|
751,386 |
| ||||||||||||
NOW accounts |
|
1,051,484 |
|
1,091,178 |
|
1,062,969 |
|
1,129,893 |
|
1,126,913 |
|
1,044,280 |
|
1,082,774 |
|
1,075,642 |
|
1,173,347 |
|
1,157,246 |
|
922,179 |
|
984,529 |
| ||||||||||||
Money market deposits |
|
1,184,316 |
|
1,230,090 |
|
1,237,600 |
|
1,236,546 |
|
1,205,736 |
|
1,240,439 |
|
1,199,362 |
|
1,302,325 |
|
1,226,314 |
|
1,155,889 |
|
1,110,519 |
|
937,766 |
| ||||||||||||
Core transactional deposits |
|
4,823,339 |
|
4,755,111 |
|
4,866,776 |
|
4,876,261 |
|
4,742,889 |
|
4,527,937 |
|
4,322,136 |
|
4,590,489 |
|
4,474,590 |
|
4,297,585 |
|
3,916,804 |
|
3,734,889 |
| ||||||||||||
Time deposits |
|
1,621,926 |
|
1,792,009 |
|
1,688,995 |
|
1,731,413 |
|
1,813,164 |
|
1,937,890 |
|
1,991,637 |
|
2,069,389 |
|
2,022,721 |
|
1,916,116 |
|
1,956,745 |
|
2,001,207 |
| ||||||||||||
Total deposits |
|
6,445,265 |
|
6,547,120 |
|
6,555,771 |
|
6,607,674 |
|
6,556,053 |
|
6,465,827 |
|
6,313,773 |
|
6,659,878 |
|
6,497,311 |
|
6,213,701 |
|
5,873,549 |
|
5,736,096 |
| ||||||||||||
Borrowed funds |
|
203,548 |
|
265,702 |
|
252,839 |
|
262,001 |
|
262,525 |
|
285,847 |
|
359,174 |
|
281,050 |
|
337,905 |
|
342,808 |
|
477,323 |
|
1,118,792 |
| ||||||||||||
Senior and subordinated debt |
|
248,232 |
|
150,285 |
|
187,488 |
|
137,749 |
|
137,747 |
|
137,745 |
|
137,739 |
|
137,743 |
|
137,740 |
|
137,738 |
|
137,736 |
|
208,621 |
| ||||||||||||
Total funding sources |
|
$ |
6,897,045 |
|
$ |
6,963,107 |
|
$ |
6,996,098 |
|
$ |
7,007,424 |
|
$ |
6,956,325 |
|
$ |
6,889,419 |
|
$ |
6,810,686 |
|
$ |
7,078,671 |
|
$ |
6,972,956 |
|
$ |
6,694,247 |
|
$ |
6,488,608 |
|
$ |
7,063,509 |
|
Stockholders equity |
|
$ |
970,368 |
|
$ |
1,119,523 |
|
$ |
1,072,684 |
|
$ |
1,148,548 |
|
$ |
1,134,770 |
|
$ |
1,122,315 |
|
$ |
1,148,219 |
|
$ |
1,156,263 |
|
$ |
1,163,661 |
|
$ |
1,152,394 |
|
$ |
1,119,866 |
|
$ |
927,673 |
|
Stockholders equity, common |
|
970,368 |
|
947,145 |
|
961,500 |
|
955,548 |
|
941,770 |
|
929,315 |
|
955,219 |
|
963,263 |
|
970,661 |
|
959,394 |
|
926,866 |
|
734,673 |
| ||||||||||||
Stockholders equity, preferred |
|
|
|
172,378 |
|
111,184 |
|
193,000 |
|
193,000 |
|
193,000 |
|
193,000 |
|
193,000 |
|
193,000 |
|
193,000 |
|
193,000 |
|
193,000 |
|
First Midwest Bancorp, Inc.
Selected Financial Information
(Amounts in thousands, except per share data)
|
|
2012 |
|
2011 |
|
2010 |
|
2009 |
| ||||||||||||||||||||||||||||
|
|
1st Quarter |
|
Dec. 31/YTD |
|
4th Quarter |
|
3rd Quarter |
|
2nd Quarter |
|
1st Quarter |
|
Dec. 31/YTD |
|
4th Quarter |
|
3rd Quarter |
|
2nd Quarter |
|
1st Quarter |
|
Dec. 31/YTD |
| ||||||||||||
Income Statement |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Interest income |
|
$ |
75,268 |
|
$ |
321,511 |
|
$ |
78,757 |
|
$ |
80,175 |
|
$ |
81,296 |
|
$ |
81,283 |
|
$ |
328,867 |
|
$ |
82,476 |
|
$ |
82,338 |
|
$ |
82,274 |
|
$ |
81,779 |
|
$ |
341,751 |
|
Interest expense |
|
10,086 |
|
39,891 |
|
9,679 |
|
9,640 |
|
9,935 |
|
10,637 |
|
49,518 |
|
10,897 |
|
12,125 |
|
12,655 |
|
13,841 |
|
90,219 |
| ||||||||||||
Net interest income |
|
65,182 |
|
281,620 |
|
69,078 |
|
70,535 |
|
71,361 |
|
70,646 |
|
279,349 |
|
71,579 |
|
70,213 |
|
69,619 |
|
67,938 |
|
251,532 |
| ||||||||||||
Provision for loan losses |
|
18,210 |
|
80,582 |
|
21,902 |
|
20,425 |
|
18,763 |
|
19,492 |
|
147,349 |
|
73,897 |
|
33,576 |
|
21,526 |
|
18,350 |
|
215,672 |
| ||||||||||||
Service charges on deposit accounts |
|
8,660 |
|
37,879 |
|
9,957 |
|
10,215 |
|
9,563 |
|
8,144 |
|
35,884 |
|
9,202 |
|
9,249 |
|
9,052 |
|
8,381 |
|
38,754 |
| ||||||||||||
Wealth management fees |
|
5,392 |
|
20,323 |
|
5,052 |
|
4,982 |
|
5,236 |
|
5,053 |
|
18,806 |
|
4,943 |
|
4,714 |
|
4,620 |
|
4,529 |
|
17,466 |
| ||||||||||||
Other service charges, commissions, and fees |
|
3,520 |
|
16,387 |
|
3,877 |
|
4,289 |
|
4,244 |
|
3,977 |
|
14,495 |
|
3,603 |
|
3,946 |
|
3,710 |
|
3,236 |
|
13,122 |
| ||||||||||||
Card-based fees |
|
5,020 |
|
19,593 |
|
4,971 |
|
4,931 |
|
5,162 |
|
4,529 |
|
17,577 |
|
4,640 |
|
4,547 |
|
4,497 |
|
3,893 |
|
15,826 |
| ||||||||||||
Total fee-based revenue |
|
22,592 |
|
94,182 |
|
23,857 |
|
24,417 |
|
24,205 |
|
21,703 |
|
86,762 |
|
22,388 |
|
22,456 |
|
21,879 |
|
20,039 |
|
85,168 |
| ||||||||||||
Bank owned life insurance income |
|
248 |
|
2,231 |
|
241 |
|
1,479 |
|
259 |
|
252 |
|
1,560 |
|
696 |
|
267 |
|
349 |
|
248 |
|
2,263 |
| ||||||||||||
Security (losses) gains, net |
|
(943 |
) |
2,410 |
|
(110 |
) |
449 |
|
1,531 |
|
540 |
|
12,216 |
|
1,662 |
|
6,376 |
|
1,121 |
|
3,057 |
|
2,110 |
| ||||||||||||
Gains on FDIC-assisted transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
4,303 |
|
|
|
|
|
4,303 |
|
|
|
13,071 |
| ||||||||||||
Gain on acquisition of deposits |
|
|
|
1,076 |
|
1,076 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Gains on early extinguishment of debt |
|
256 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
15,258 |
| ||||||||||||
Other |
|
2,536 |
|
2,038 |
|
1,571 |
|
(1,754 |
) |
499 |
|
1,722 |
|
3,710 |
|
1,421 |
|
1,654 |
|
(342 |
) |
977 |
|
5,132 |
| ||||||||||||
Total noninterest income |
|
24,689 |
|
101,937 |
|
26,635 |
|
24,591 |
|
26,494 |
|
24,217 |
|
108,551 |
|
26,167 |
|
30,753 |
|
27,310 |
|
24,321 |
|
123,002 |
| ||||||||||||
Salaries and employee benefits |
|
34,050 |
|
128,774 |
|
35,220 |
|
29,182 |
|
31,554 |
|
32,818 |
|
114,378 |
|
31,028 |
|
29,926 |
|
26,540 |
|
26,884 |
|
106,548 |
| ||||||||||||
Net occupancy and equipment expense |
|
8,331 |
|
32,953 |
|
7,681 |
|
8,157 |
|
8,012 |
|
9,103 |
|
32,218 |
|
7,916 |
|
8,326 |
|
7,808 |
|
8,168 |
|
31,724 |
| ||||||||||||
FDIC premiums |
|
1,719 |
|
7,990 |
|
1,758 |
|
1,799 |
|
1,708 |
|
2,725 |
|
10,880 |
|
2,967 |
|
2,835 |
|
2,546 |
|
2,532 |
|
13,673 |
| ||||||||||||
Losses on OREO |
|
303 |
|
9,686 |
|
1,425 |
|
2,611 |
|
3,423 |
|
2,227 |
|
40,480 |
|
15,412 |
|
8,265 |
|
8,924 |
|
7,879 |
|
18,554 |
| ||||||||||||
Other real estate expense, net |
|
1,561 |
|
6,607 |
|
1,540 |
|
1,563 |
|
1,800 |
|
1,704 |
|
9,554 |
|
2,408 |
|
1,312 |
|
2,926 |
|
2,908 |
|
4,905 |
| ||||||||||||
Other intangibles amortization |
|
834 |
|
3,802 |
|
932 |
|
957 |
|
956 |
|
957 |
|
4,278 |
|
1,139 |
|
1,107 |
|
1,029 |
|
1,003 |
|
3,929 |
| ||||||||||||
Other expenses |
|
15,815 |
|
72,092 |
|
18,035 |
|
19,907 |
|
18,266 |
|
15,884 |
|
66,991 |
|
16,204 |
|
17,006 |
|
17,682 |
|
16,099 |
|
55,455 |
| ||||||||||||
Total noninterest expense |
|
62,613 |
|
261,904 |
|
66,591 |
|
64,176 |
|
65,719 |
|
65,418 |
|
278,779 |
|
77,074 |
|
68,777 |
|
67,455 |
|
65,473 |
|
234,788 |
| ||||||||||||
Income before income tax |
|
9,048 |
|
41,071 |
|
7,220 |
|
10,525 |
|
13,373 |
|
9,953 |
|
(38,228 |
) |
(53,225 |
) |
(1,387 |
) |
7,948 |
|
8,436 |
|
(75,926 |
) | ||||||||||||
Income tax |
|
1,156 |
|
4,508 |
|
296 |
|
1,583 |
|
2,720 |
|
(91 |
) |
(28,544 |
) |
(25,066 |
) |
(3,972 |
) |
139 |
|
355 |
|
(50,176 |
) | ||||||||||||
Net income |
|
$ |
7,892 |
|
$ |
36,563 |
|
$ |
6,924 |
|
$ |
8,942 |
|
$ |
10,653 |
|
$ |
10,044 |
|
$ |
(9,684 |
) |
$ |
(28,159 |
) |
$ |
2,585 |
|
$ |
7,809 |
|
$ |
8,081 |
|
$ |
(25,750 |
) |
Net income applicable to common shares |
|
$ |
7,753 |
|
$ |
25,437 |
|
$ |
3,877 |
|
$ |
6,263 |
|
$ |
7,971 |
|
$ |
7,326 |
|
$ |
(19,717 |
) |
$ |
(30,327 |
) |
$ |
11 |
|
$ |
5,171 |
|
$ |
5,428 |
|
$ |
(35,551 |
) |
Basic earnings per common share |
|
0.11 |
|
0.35 |
|
0.05 |
|
0.09 |
|
0.11 |
|
0.10 |
|
(0.27 |
) |
(0.41 |
) |
0.00 |
|
0.07 |
|
0.08 |
|
(0.71 |
) | ||||||||||||
Diluted earnings per common share |
|
0.11 |
|
0.35 |
|
0.05 |
|
0.09 |
|
0.11 |
|
0.10 |
|
(0.27 |
) |
(0.41 |
) |
0.00 |
|
0.07 |
|
0.08 |
|
(0.71 |
) | ||||||||||||
Weighted average shares outstanding |
|
73,505 |
|
73,289 |
|
73,382 |
|
73,361 |
|
73,259 |
|
73,151 |
|
72,422 |
|
73,085 |
|
73,072 |
|
73,028 |
|
70,469 |
|
50,034 |
| ||||||||||||
Weighted average diluted shares outstanding |
|
73,505 |
|
73,289 |
|
73,382 |
|
73,361 |
|
73,259 |
|
73,151 |
|
72,422 |
|
73,085 |
|
73,072 |
|
73,028 |
|
70,469 |
|
50,034 |
| ||||||||||||
Tax equivalent adjustment (1) |
|
$ |
3,292 |
|
$ |
13,818 |
|
$ |
3,339 |
|
$ |
3,395 |
|
$ |
3,517 |
|
$ |
3,567 |
|
$ |
16,312 |
|
$ |
3,742 |
|
$ |
4,053 |
|
$ |
4,265 |
|
$ |
4,252 |
|
$ |
19,658 |
|
Net interest income (FTE) (1) |
|
68,474 |
|
295,438 |
|
72,417 |
|
73,930 |
|
74,878 |
|
74,213 |
|
295,661 |
|
75,321 |
|
74,266 |
|
73,884 |
|
72,190 |
|
271,190 |
| ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Common stock and related per common share data: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Book value |
|
$ |
12.99 |
|
$ |
12.93 |
|
$ |
12.93 |
|
$ |
12.87 |
|
$ |
12.73 |
|
$ |
12.49 |
|
$ |
12.40 |
|
$ |
12.40 |
|
$ |
13.06 |
|
$ |
13.00 |
|
$ |
12.84 |
|
$ |
13.66 |
|
Tangible book value |
|
9.21 |
|
9.12 |
|
9.12 |
|
9.07 |
|
8.92 |
|
8.66 |
|
8.54 |
|
8.54 |
|
9.18 |
|
9.20 |
|
9.05 |
|
8.52 |
| ||||||||||||
Dividends declared per share |
|
0.01 |
|
0.04 |
|
0.01 |
|
0.01 |
|
0.01 |
|
0.01 |
|
0.04 |
|
0.01 |
|
0.01 |
|
0.01 |
|
0.01 |
|
0.04 |
| ||||||||||||
Market price - period high |
|
12.40 |
|
13.48 |
|
10.31 |
|
12.72 |
|
13.48 |
|
13.07 |
|
17.95 |
|
13.13 |
|
13.43 |
|
17.95 |
|
14.43 |
|
20.25 |
| ||||||||||||
Market price - period low |
|
11.94 |
|
6.89 |
|
6.89 |
|
7.22 |
|
11.05 |
|
10.79 |
|
9.26 |
|
9.26 |
|
10.72 |
|
12.10 |
|
10.37 |
|
5.94 |
| ||||||||||||
Closing price at period end |
|
11.98 |
|
10.13 |
|
10.13 |
|
7.32 |
|
12.29 |
|
11.79 |
|
11.52 |
|
11.52 |
|
11.53 |
|
12.16 |
|
13.55 |
|
10.89 |
| ||||||||||||
Closing price to book value |
|
0.9 |
|
0.8 |
|
0.8 |
|
0.6 |
|
1.0 |
|
0.9 |
|
0.9 |
|
0.9 |
|
0.9 |
|
0.9 |
|
1.1 |
|
0.8 |
| ||||||||||||
Period end shares outstanding |
|
74,898 |
|
74,435 |
|
74,435 |
|
74,485 |
|
74,473 |
|
74,543 |
|
74,096 |
|
74,096 |
|
74,057 |
|
74,049 |
|
74,046 |
|
54,793 |
| ||||||||||||
Period end treasury shares |
|
10,889 |
|
11,352 |
|
11,352 |
|
11,302 |
|
11,314 |
|
11,244 |
|
11,691 |
|
11,691 |
|
11,730 |
|
11,738 |
|
11,741 |
|
12,176 |
| ||||||||||||
Number of shares repurchased |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Common dividends |
|
$ |
749 |
|
$ |
2,978 |
|
$ |
744 |
|
$ |
745 |
|
$ |
743 |
|
$ |
746 |
|
$ |
2,965 |
|
$ |
741 |
|
$ |
743 |
|
$ |
741 |
|
$ |
740 |
|
$ |
2,020 |
|
Preferred dividends |
|
|
|
8,658 |
|
1,420 |
|
2,413 |
|
2,412 |
|
2,413 |
|
9,650 |
|
2,413 |
|
2,412 |
|
2,412 |
|
2,413 |
|
9,650 |
| ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Other Key Ratios/Data: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Return on average common equity (2) |
|
3.21 |
% |
2.69 |
% |
1.60 |
% |
2.60 |
% |
3.39 |
% |
3.20 |
% |
-2.06 |
% |
-12.49 |
% |
0.00 |
% |
2.16 |
% |
2.38 |
% |
-4.84 |
% | ||||||||||||
Return on average assets (2) |
|
0.40 |
% |
0.45 |
% |
0.34 |
% |
0.43 |
% |
0.52 |
% |
0.50 |
% |
-0.12 |
% |
-1.34 |
% |
0.13 |
% |
0.40 |
% |
0.43 |
% |
-0.32 |
% | ||||||||||||
Net interest margin (1) |
|
3.88 |
% |
4.04 |
% |
3.95 |
% |
3.97 |
% |
4.10 |
% |
4.15 |
% |
4.13 |
% |
4.02 |
% |
4.05 |
% |
4.21 |
% |
4.28 |
% |
3.72 |
% | ||||||||||||
Yield on average earning assets (1) |
|
4.45 |
% |
4.59 |
% |
4.47 |
% |
4.49 |
% |
4.64 |
% |
4.75 |
% |
4.82 |
% |
4.60 |
% |
4.72 |
% |
4.94 |
% |
5.10 |
% |
4.96 |
% | ||||||||||||
Cost of funds |
|
0.76 |
% |
0.73 |
% |
0.71 |
% |
0.70 |
% |
0.73 |
% |
0.78 |
% |
0.89 |
% |
0.75 |
% |
0.84 |
% |
0.92 |
% |
1.05 |
% |
1.50 |
% | ||||||||||||
Efficiency ratio (1) |
|
64.62 |
% |
62.12 |
% |
64.76 |
% |
60.57 |
% |
60.49 |
% |
62.70 |
% |
58.84 |
% |
59.08 |
% |
59.91 |
% |
57.92 |
% |
58.41 |
% |
57.86 |
% | ||||||||||||
Net noninterest expense ratio (2) |
|
1.88 |
% |
2.00 |
% |
1.99 |
% |
1.93 |
% |
2.00 |
% |
2.09 |
% |
2.33 |
% |
2.51 |
% |
2.15 |
% |
2.31 |
% |
2.34 |
% |
1.76 |
% | ||||||||||||
Effective income tax rate |
|
12.78 |
% |
10.98 |
% |
4.10 |
% |
15.04 |
% |
20.34 |
% |
-0.91 |
% |
74.67 |
% |
47.09 |
% |
286.37 |
% |
1.75 |
% |
4.21 |
% |
66.09 |
% | ||||||||||||
Full time equivalent employees - end of period |
|
1,757 |
|
1,791 |
|
1,791 |
|
1,833 |
|
1,846 |
|
1,845 |
|
1,838 |
|
1,838 |
|
1,884 |
|
1,762 |
|
1,729 |
|
1,739 |
| ||||||||||||
Number of bank offices |
|
98 |
|
98 |
|
98 |
|
96 |
|
96 |
|
97 |
|
98 |
|
98 |
|
100 |
|
95 |
|
94 |
|
94 |
| ||||||||||||
Number of automated teller machines |
|
132 |
|
132 |
|
132 |
|
133 |
|
135 |
|
136 |
|
137 |
|
137 |
|
129 |
|
131 |
|
129 |
|
127 |
|
Note: Discussion of footnotes (1) and (2) are located at the end of this document.
First Midwest Bancorp, Inc.
Selected Financial Information
(Amounts in thousands, except per share data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2012 |
|
|
|
|
|
2011 |
|
|
|
|
|
|
|
|
|
2010 |
|
|
|
|
|
2009 |
| ||||||||||||
|
|
1st Quarter |
|
Dec. 31/YTD |
|
4th Quarter |
|
3rd Quarter |
|
2nd Quarter |
|
1st Quarter |
|
Dec. 31/YTD |
|
4th Quarter |
|
3rd Quarter |
|
2nd Quarter |
|
1st Quarter |
|
Dec. 31/YTD |
| ||||||||||||
Pre-Tax, Pre-Provision Operating Earnings |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Income before income tax |
|
$ |
9,048 |
|
$ |
41,071 |
|
$ |
7,220 |
|
$ |
10,525 |
|
$ |
13,373 |
|
$ |
9,953 |
|
$ |
(38,228 |
) |
$ |
(53,225 |
) |
$ |
(1,387 |
) |
$ |
7,948 |
|
$ |
8,436 |
|
$ |
(75,926 |
) |
Provision for credit losses |
|
18,210 |
|
80,582 |
|
21,902 |
|
20,425 |
|
18,763 |
|
19,492 |
|
147,349 |
|
73,897 |
|
33,576 |
|
21,526 |
|
18,350 |
|
215,672 |
| ||||||||||||
Pre-tax, pre-provision earnings |
|
27,258 |
|
121,653 |
|
29,122 |
|
30,950 |
|
32,136 |
|
29,445 |
|
109,121 |
|
20,672 |
|
32,189 |
|
29,474 |
|
26,786 |
|
139,746 |
| ||||||||||||
Adjustments to Pre-Tax, Pre-Provision Operating Earnings: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Security (losses) gains, net |
|
(943 |
) |
2,410 |
|
(110 |
) |
449 |
|
1,531 |
|
540 |
|
12,216 |
|
1,662 |
|
6,376 |
|
1,121 |
|
3,057 |
|
2,110 |
| ||||||||||||
Gains on FDIC-assisted transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
4,303 |
|
|
|
|
|
4,303 |
|
|
|
13,071 |
| ||||||||||||
Gain on acquisition of deposits |
|
|
|
1,076 |
|
1,076 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Gains on early extinguishment of debt |
|
256 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
15,258 |
| ||||||||||||
BOLI write-downs |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
(Losses) gains on OREO |
|
(303 |
) |
(9,686 |
) |
(1,425 |
) |
(2,611 |
) |
(3,423 |
) |
(2,227 |
) |
(40,480 |
) |
(15,412 |
) |
(8,265 |
) |
(8,924 |
) |
(7,879 |
) |
(18,554 |
) | ||||||||||||
Severance-related costs |
|
(315 |
) |
(2,000 |
) |
(2,000 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Integration costs associated with FDIC- assisted transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
(3,324 |
) |
(576 |
) |
(847 |
) |
(1,772 |
) |
(129 |
) |
|
| ||||||||||||
FDIC special deposit insurance assessment |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(3,500 |
) | ||||||||||||
Total adjustments |
|
(1,305 |
) |
(8,200 |
) |
(2,459 |
) |
(2,162 |
) |
(1,892 |
) |
(1,687 |
) |
(27,285 |
) |
(14,326 |
) |
(2,736 |
) |
(5,272 |
) |
(4,951 |
) |
8,385 |
| ||||||||||||
Pre-tax, pre-provision operating earnings |
|
$ |
28,563 |
|
$ |
129,853 |
|
$ |
31,581 |
|
$ |
33,112 |
|
$ |
34,028 |
|
$ |
31,132 |
|
$ |
136,406 |
|
$ |
34,998 |
|
$ |
34,925 |
|
$ |
34,746 |
|
$ |
31,737 |
|
$ |
131,361 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Parent Company Data: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Parent investment in subsidiaries - end of period |
|
$ |
1,150,670 |
|
$ |
1,135,894 |
|
$ |
1,135,894 |
|
$ |
1,181,190 |
|
$ |
1,174,139 |
|
$ |
1,190,525 |
|
$ |
1,173,342 |
|
$ |
1,173,342 |
|
$ |
1,216,074 |
|
$ |
1,204,551 |
|
$ |
1,188,859 |
|
$ |
1,008,836 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Risk-Based Capital Data: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Preferred stock |
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
191,393 |
|
$ |
191,220 |
|
$ |
191,050 |
|
$ |
190,882 |
|
$ |
190,882 |
|
$ |
190,716 |
|
$ |
190,553 |
|
$ |
190,392 |
|
$ |
190,233 |
|
Common stock |
|
858 |
|
858 |
|
858 |
|
858 |
|
858 |
|
858 |
|
858 |
|
858 |
|
858 |
|
858 |
|
858 |
|
670 |
| ||||||||||||
Accumulated paid in capital |
|
413,742 |
|
428,001 |
|
428,001 |
|
425,647 |
|
424,877 |
|
422,405 |
|
437,550 |
|
437,550 |
|
436,774 |
|
435,605 |
|
434,704 |
|
252,322 |
| ||||||||||||
Retained earnings |
|
817,630 |
|
810,487 |
|
810,487 |
|
807,334 |
|
801,723 |
|
794,395 |
|
787,678 |
|
787,678 |
|
819,157 |
|
819,890 |
|
815,395 |
|
810,626 |
| ||||||||||||
Treasury stock |
|
(248,610 |
) |
(263,483 |
) |
(263,483 |
) |
(261,909 |
) |
(262,097 |
) |
(260,633 |
) |
(277,184 |
) |
(277,184 |
) |
(278,243 |
) |
(278,591 |
) |
(278,703 |
) |
(293,664 |
) | ||||||||||||
Trust preferred securities |
|
64,265 |
|
84,730 |
|
84,730 |
|
84,730 |
|
84,730 |
|
84,730 |
|
84,730 |
|
84,730 |
|
84,730 |
|
84,730 |
|
84,730 |
|
84,730 |
| ||||||||||||
Minority interest |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1 |
|
1 |
|
3 |
|
5 |
| ||||||||||||
Unrealized loss on equity securities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Intangible assets |
|
(282,815 |
) |
(283,650 |
) |
(283,650 |
) |
(283,163 |
) |
(284,120 |
) |
(285,077 |
) |
(286,033 |
) |
(286,033 |
) |
(287,173 |
) |
(281,255 |
) |
(280,477 |
) |
(281,479 |
) | ||||||||||||
Disallowed deferred tax assets |
|
(50,602 |
) |
(52,080 |
) |
(52,080 |
) |
(44,858 |
) |
(41,363 |
) |
(43,392 |
) |
(41,071 |
) |
(41,071 |
) |
(13,662 |
) |
(1,761 |
) |
|
|
|
| ||||||||||||
Tier 1 capital |
|
714,468 |
|
724,863 |
|
724,863 |
|
920,032 |
|
915,828 |
|
904,336 |
|
897,410 |
|
897,410 |
|
953,158 |
|
970,030 |
|
966,902 |
|
763,443 |
| ||||||||||||
Tier 2 capital |
|
129,330 |
|
129,098 |
|
129,098 |
|
129,277 |
|
129,595 |
|
130,033 |
|
130,351 |
|
130,351 |
|
131,564 |
|
130,949 |
|
131,114 |
|
131,836 |
| ||||||||||||
Total capital |
|
$ |
843,798 |
|
$ |
853,961 |
|
$ |
853,961 |
|
$ |
1,049,309 |
|
$ |
1,045,423 |
|
$ |
1,034,369 |
|
$ |
1,027,761 |
|
$ |
1,027,761 |
|
$ |
1,084,722 |
|
$ |
1,100,979 |
|
$ |
1,098,016 |
|
$ |
895,279 |
|
Risk-adjusted assets |
|
$ |
6,263,673 |
|
$ |
6,241,191 |
|
$ |
6,241,191 |
|
$ |
6,244,070 |
|
$ |
6,261,928 |
|
$ |
6,291,987 |
|
$ |
6,317,744 |
|
$ |
6,317,744 |
|
$ |
6,416,082 |
|
$ |
6,361,397 |
|
$ |
6,372,521 |
|
$ |
6,424,597 |
|
Tier 1 common capital |
|
650,203 |
|
640,133 |
|
640,133 |
|
642,302 |
|
638,098 |
|
626,606 |
|
619,680 |
|
619,680 |
|
675,428 |
|
692,300 |
|
689,172 |
|
485,713 |
| ||||||||||||
Tangible common equity |
|
689,886 |
|
678,937 |
|
678,937 |
|
675,747 |
|
664,122 |
|
645,625 |
|
633,012 |
|
633,012 |
|
679,886 |
|
681,257 |
|
670,291 |
|
467,042 |
| ||||||||||||
Tangible common equity excluding OCI |
|
700,805 |
|
692,213 |
|
692,213 |
|
687,160 |
|
679,461 |
|
669,998 |
|
660,751 |
|
660,751 |
|
689,089 |
|
694,060 |
|
689,169 |
|
485,708 |
| ||||||||||||
Adjusted average assets |
|
7,620,777 |
|
7,813,637 |
|
7,813,637 |
|
7,909,645 |
|
7,862,447 |
|
7,795,603 |
|
8,002,186 |
|
8,002,186 |
|
7,909,998 |
|
7,640,068 |
|
7,404,963 |
|
7,496,478 |
| ||||||||||||
Total capital / risk-weighted assets |
|
13.47 |
% |
13.68 |
% |
13.68 |
% |
16.80 |
% |
16.69 |
% |
16.44 |
% |
16.27 |
% |
16.27 |
% |
16.91 |
% |
17.31 |
% |
17.23 |
% |
13.94 |
% | ||||||||||||
Tier 1 capital / risk-weighted assets |
|
11.41 |
% |
11.61 |
% |
11.61 |
% |
14.73 |
% |
14.63 |
% |
14.37 |
% |
14.20 |
% |
14.20 |
% |
14.86 |
% |
15.25 |
% |
15.17 |
% |
11.88 |
% | ||||||||||||
Leverage ratio |
|
9.38 |
% |
9.28 |
% |
9.28 |
% |
11.63 |
% |
11.65 |
% |
11.60 |
% |
11.21 |
% |
11.21 |
% |
12.05 |
% |
12.70 |
% |
13.06 |
% |
10.18 |
% | ||||||||||||
Tier 1 common capital / risk-weighted assets |
|
10.38 |
% |
10.26 |
% |
10.26 |
% |
10.29 |
% |
10.19 |
% |
9.96 |
% |
9.81 |
% |
9.81 |
% |
10.53 |
% |
10.88 |
% |
10.81 |
% |
7.56 |
% | ||||||||||||
Tangible common equity ratio |
|
8.95 |
% |
8.83 |
% |
8.83 |
% |
8.35 |
% |
8.47 |
% |
8.33 |
% |
8.06 |
% |
8.06 |
% |
8.41 |
% |
9.05 |
% |
9.17 |
% |
6.29 |
% | ||||||||||||
Tangible common equity ratio, excluding OCI |
|
9.10 |
% |
9.00 |
% |
9.00 |
% |
8.49 |
% |
8.66 |
% |
8.64 |
% |
8.41 |
% |
8.41 |
% |
8.53 |
% |
9.22 |
% |
9.42 |
% |
6.54 |
% | ||||||||||||
Tangible common equity / risk-weighted assets |
|
11.01 |
% |
10.88 |
% |
10.88 |
% |
10.82 |
% |
10.61 |
% |
10.26 |
% |
10.02 |
% |
10.02 |
% |
10.60 |
% |
10.71 |
% |
10.52 |
% |
7.27 |
% |
First Midwest Bancorp, Inc.
Selected Financial Information
(Amounts in thousands, except per share data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2012 |
|
|
|
|
|
2011 |
|
|
|
|
|
|
|
|
|
2010 |
|
|
|
|
|
2009 |
| ||||||||||||
|
|
1st Quarter |
|
Dec. 31/YTD |
|
4th Quarter |
|
3rd Quarter |
|
2nd Quarter |
|
1st Quarter |
|
Dec. 31/YTD |
|
4th Quarter |
|
3rd Quarter |
|
2nd Quarter |
|
1st Quarter |
|
Dec. 31/YTD |
| ||||||||||||
Asset Quality Performance Data: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Ending loans, excluding covered loans |
|
$ |
5,137,328 |
|
$ |
5,088,113 |
|
$ |
5,088,113 |
|
$ |
5,104,494 |
|
$ |
5,112,911 |
|
$ |
5,095,543 |
|
$ |
5,100,560 |
|
$ |
5,100,560 |
|
$ |
5,164,666 |
|
$ |
5,208,347 |
|
$ |
5,195,874 |
|
$ |
5,203,246 |
|
Average loans, excluding covered loans |
|
5,089,286 |
|
5,101,621 |
|
5,085,792 |
|
5,136,130 |
|
5,108,234 |
|
5,075,840 |
|
5,191,154 |
|
5,155,416 |
|
5,207,419 |
|
5,204,566 |
|
5,197,499 |
|
5,348,979 |
| ||||||||||||
Non-performing loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Commercial and industrial |
|
$ |
55,158 |
|
$ |
44,152 |
|
$ |
44,152 |
|
$ |
30,507 |
|
$ |
44,393 |
|
$ |
54,561 |
|
$ |
50,088 |
|
$ |
50,088 |
|
$ |
40,955 |
|
$ |
39,942 |
|
$ |
38,095 |
|
$ |
28,193 |
|
Agricultural |
|
882 |
|
1,019 |
|
1,019 |
|
2,977 |
|
1,009 |
|
1,171 |
|
2,497 |
|
2,497 |
|
3,495 |
|
1,139 |
|
2,532 |
|
2,673 |
| ||||||||||||
Commercial real estate: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Office, retail, and industrial |
|
34,831 |
|
30,043 |
|
30,043 |
|
24,728 |
|
16,567 |
|
16,753 |
|
19,573 |
|
19,573 |
|
21,721 |
|
17,170 |
|
18,204 |
|
21,396 |
| ||||||||||||
Multi-family |
|
9,615 |
|
6,487 |
|
6,487 |
|
18,196 |
|
23,385 |
|
6,787 |
|
6,203 |
|
6,203 |
|
6,813 |
|
7,904 |
|
8,349 |
|
12,486 |
| ||||||||||||
Residential construction |
|
21,104 |
|
18,076 |
|
18,076 |
|
20,911 |
|
23,576 |
|
36,326 |
|
52,122 |
|
52,122 |
|
61,050 |
|
71,148 |
|
93,412 |
|
112,798 |
| ||||||||||||
Commercial construction |
|
20,297 |
|
23,347 |
|
23,347 |
|
15,672 |
|
21,449 |
|
20,980 |
|
28,685 |
|
28,685 |
|
21,471 |
|
20,457 |
|
20,023 |
|
20,864 |
| ||||||||||||
Other commercial real estate |
|
43,137 |
|
51,447 |
|
51,447 |
|
45,727 |
|
36,984 |
|
38,732 |
|
40,605 |
|
40,605 |
|
44,516 |
|
21,950 |
|
21,806 |
|
32,357 |
| ||||||||||||
1-4 family mortgages |
|
5,648 |
|
5,322 |
|
5,322 |
|
4,648 |
|
4,577 |
|
3,362 |
|
3,902 |
|
3,902 |
|
3,310 |
|
5,706 |
|
5,826 |
|
5,819 |
| ||||||||||||
Consumer |
|
8,873 |
|
7,432 |
|
7,432 |
|
7,823 |
|
5,555 |
|
7,891 |
|
8,107 |
|
8,107 |
|
8,035 |
|
8,273 |
|
7,826 |
|
7,629 |
| ||||||||||||
Total non-accrual loans |
|
199,545 |
|
187,325 |
|
187,325 |
|
171,189 |
|
177,495 |
|
186,563 |
|
211,782 |
|
211,782 |
|
211,366 |
|
193,689 |
|
216,073 |
|
244,215 |
| ||||||||||||
Loans past due 90 days and still accruing |
|
7,674 |
|
9,227 |
|
9,227 |
|
6,008 |
|
6,502 |
|
5,231 |
|
4,244 |
|
4,244 |
|
9,136 |
|
6,280 |
|
7,995 |
|
4,079 |
| ||||||||||||
Total non-performing loans |
|
207,219 |
|
196,552 |
|
196,552 |
|
177,197 |
|
183,997 |
|
191,794 |
|
216,026 |
|
216,026 |
|
220,502 |
|
199,969 |
|
224,068 |
|
248,294 |
| ||||||||||||
Restructured, accruing loans |
|
2,076 |
|
17,864 |
|
17,864 |
|
7,033 |
|
14,529 |
|
14,120 |
|
22,371 |
|
22,371 |
|
11,002 |
|
9,030 |
|
5,168 |
|
30,553 |
| ||||||||||||
Other real estate owned |
|
35,276 |
|
33,975 |
|
33,975 |
|
23,863 |
|
24,407 |
|
33,863 |
|
31,069 |
|
31,069 |
|
52,044 |
|
57,023 |
|
62,565 |
|
57,137 |
| ||||||||||||
Total non-performing assets |
|
$ |
244,571 |
|
$ |
248,391 |
|
$ |
248,391 |
|
$ |
208,093 |
|
$ |
222,933 |
|
$ |
239,777 |
|
$ |
269,466 |
|
$ |
269,466 |
|
$ |
283,548 |
|
$ |
266,022 |
|
$ |
291,801 |
|
$ |
335,984 |
|
Loans past due 30-89 days and still accruing |
|
21,241 |
|
27,495 |
|
27,495 |
|
34,061 |
|
30,424 |
|
28,927 |
|
23,646 |
|
23,646 |
|
41,590 |
|
32,012 |
|
28,018 |
|
37,912 |
| ||||||||||||
Allowance for credit losses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Allowance for loan losses |
|
$ |
116,264 |
|
$ |
119,462 |
|
$ |
119,462 |
|
$ |
128,791 |
|
$ |
137,331 |
|
$ |
142,503 |
|
$ |
142,572 |
|
$ |
142,572 |
|
$ |
144,569 |
|
$ |
145,027 |
|
$ |
144,824 |
|
$ |
144,808 |
|
Reserve for unfunded commitments |
|
2,500 |
|
2,500 |
|
2,500 |
|
2,500 |
|
2,500 |
|
2,500 |
|
2,500 |
|
2,500 |
|
450 |
|
450 |
|
|
|
|
| ||||||||||||
Total allowance for credit losses |
|
$ |
118,764 |
|
$ |
121,962 |
|
$ |
121,962 |
|
$ |
131,291 |
|
$ |
139,831 |
|
$ |
145,003 |
|
$ |
145,072 |
|
$ |
145,072 |
|
$ |
145,019 |
|
$ |
145,477 |
|
$ |
144,824 |
|
$ |
144,808 |
|
Provision for loan losses |
|
$ |
18,210 |
|
$ |
80,582 |
|
$ |
21,902 |
|
$ |
20,425 |
|
$ |
18,763 |
|
$ |
19,492 |
|
$ |
147,349 |
|
$ |
73,897 |
|
$ |
33,576 |
|
$ |
21,526 |
|
$ |
18,350 |
|
$ |
215,672 |
|
Net charge-offs by category: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Commercial and industrial |
|
$ |
7,524 |
|
$ |
27,788 |
|
$ |
8,910 |
|
$ |
10,165 |
|
$ |
5,585 |
|
$ |
3,128 |
|
$ |
30,602 |
|
$ |
10,198 |
|
$ |
13,262 |
|
$ |
2,679 |
|
$ |
4,463 |
|
$ |
55,004 |
|
Agricultural |
|
(50 |
) |
1,469 |
|
484 |
|
177 |
|
799 |
|
9 |
|
1,301 |
|
125 |
|
489 |
|
546 |
|
141 |
|
180 |
| ||||||||||||
Commercial real estate: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Office, retail, and industrial |
|
2,665 |
|
8,114 |
|
3,779 |
|
2,543 |
|
609 |
|
1,183 |
|
9,710 |
|
2,888 |
|
2,825 |
|
2,353 |
|
1,644 |
|
7,856 |
| ||||||||||||
Multi-family |
|
9 |
|
14,174 |
|
4,803 |
|
2,170 |
|
6,652 |
|
549 |
|
2,425 |
|
1,206 |
|
222 |
|
485 |
|
512 |
|
3,483 |
| ||||||||||||
Residential construction |
|
463 |
|
11,065 |
|
2,498 |
|
2,250 |
|
899 |
|
5,418 |
|
54,841 |
|
35,935 |
|
4,460 |
|
9,994 |
|
4,452 |
|
62,642 |
| ||||||||||||
Commercial construction |
|
170 |
|
6,182 |
|
1,673 |
|
4,115 |
|
133 |
|
261 |
|
8,356 |
|
7,743 |
|
228 |
|
115 |
|
270 |
|
3,220 |
| ||||||||||||
Other commercial real estate |
|
8,177 |
|
14,888 |
|
3,002 |
|
4,421 |
|
2,107 |
|
5,358 |
|
28,375 |
|
12,202 |
|
10,217 |
|
1,507 |
|
4,449 |
|
18,297 |
| ||||||||||||
1-4 family mortgages |
|
210 |
|
1,102 |
|
196 |
|
320 |
|
340 |
|
246 |
|
982 |
|
238 |
|
363 |
|
261 |
|
120 |
|
930 |
| ||||||||||||
Consumer |
|
1,966 |
|
8,999 |
|
2,199 |
|
1,780 |
|
2,703 |
|
2,317 |
|
8,918 |
|
2,374 |
|
1,979 |
|
2,282 |
|
2,283 |
|
13,121 |
| ||||||||||||
Net charge-offs, excluding covered assets |
|
21,134 |
|
93,781 |
|
27,544 |
|
27,941 |
|
19,827 |
|
18,469 |
|
145,510 |
|
72,909 |
|
34,045 |
|
20,222 |
|
18,334 |
|
164,733 |
| ||||||||||||
Charge-offs on covered assets |
|
274 |
|
9,911 |
|
3,687 |
|
1,024 |
|
4,108 |
|
1,092 |
|
1,575 |
|
935 |
|
(11 |
) |
651 |
|
|
|
|
| ||||||||||||
Total net charge-offs |
|
$ |
21,408 |
|
$ |
103,692 |
|
$ |
31,231 |
|
$ |
28,965 |
|
$ |
23,935 |
|
$ |
19,561 |
|
$ |
147,085 |
|
$ |
73,844 |
|
$ |
34,034 |
|
$ |
20,873 |
|
$ |
18,334 |
|
$ |
164,733 |
|
Asset Quality ratios: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Non-accrual loans / loans |
|
3.88 |
% |
3.68 |
% |
3.68 |
% |
3.35 |
% |
3.47 |
% |
3.66 |
% |
4.15 |
% |
4.15 |
% |
4.09 |
% |
3.72 |
% |
4.16 |
% |
4.69 |
% | ||||||||||||
Non-performing loans / loans |
|
4.03 |
% |
3.86 |
% |
3.86 |
% |
3.47 |
% |
3.60 |
% |
3.76 |
% |
4.24 |
% |
4.24 |
% |
4.27 |
% |
3.84 |
% |
4.31 |
% |
4.77 |
% | ||||||||||||
Non-performing assets / loans plus OREO |
|
4.73 |
% |
4.85 |
% |
4.85 |
% |
4.06 |
% |
4.34 |
% |
4.67 |
% |
5.25 |
% |
5.25 |
% |
5.44 |
% |
5.05 |
% |
5.55 |
% |
6.39 |
% | ||||||||||||
Non-performing assets / tangible common equity plus allowance for credit losses |
|
30.24 |
% |
31.01 |
% |
31.01 |
% |
25.78 |
% |
27.73 |
% |
30.33 |
% |
34.63 |
% |
34.63 |
% |
34.37 |
% |
32.18 |
% |
35.80 |
% |
54.91 |
% | ||||||||||||
Non-accrual loans / total assets |
|
2.50 |
% |
2.35 |
% |
2.35 |
% |
2.04 |
% |
2.18 |
% |
2.32 |
% |
2.60 |
% |
2.60 |
% |
2.53 |
% |
2.48 |
% |
2.85 |
% |
3.17 |
% | ||||||||||||
Allowance for credit losses and net charge-off ratios: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Allowance for credit losses / loans |
|
2.31 |
% |
2.40 |
% |
2.40 |
% |
2.57 |
% |
2.73 |
% |
2.85 |
% |
2.84 |
% |
2.84 |
% |
2.81 |
% |
2.79 |
% |
2.79 |
% |
2.78 |
% | ||||||||||||
Allowance for credit losses / non-accrual loans |
|
59.52 |
% |
65.11 |
% |
65.11 |
% |
76.69 |
% |
78.78 |
% |
77.72 |
% |
68.50 |
% |
68.50 |
% |
68.61 |
% |
75.11 |
% |
67.03 |
% |
59.30 |
% | ||||||||||||
Allowance for credit losses / non-performing loans |
|
57.31 |
% |
62.05 |
% |
62.05 |
% |
74.09 |
% |
76.00 |
% |
75.60 |
% |
67.15 |
% |
67.15 |
% |
65.77 |
% |
72.75 |
% |
64.63 |
% |
58.32 |
% | ||||||||||||
Net charge-offs to average net loans |
|
1.67 |
% |
1.84 |
% |
2.15 |
% |
2.16 |
% |
1.56 |
% |
1.48 |
% |
2.80 |
% |
5.61 |
% |
2.59 |
% |
1.56 |
% |
1.43 |
% |
3.08 |
% |
Footnotes:
(1) |
Tax equivalent basis reflects federal and state tax benefits. |
(2) |
Annualized based on the actual number of days for each period presented. |