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Chi town, (Globe NEWSWIRE) — Very first Midwest Bancorp, Inc. (“Basic Midwest”) now announced this enjoys inserted on a definitive arrangement to help you and acquire Bridgeview Bancorp, Inc. (“Bridgeview”), the brand new holding team having Bridgeview Financial Class.

Bridgeview has as much as $1.2 million in total property, $1.step 1 billion inside deposits, at which nearly 75% try core dumps, and you will $800 billion in finance (professional forma by excluding Bridgeview’s mortgage section, which Very first Midwest isn’t getting). It operates 13 financial offices round the better Chicagoland, and additionally branches on Bryn Mawr, Edgewater, Garfield Ridge, Lincoln Park, Lincoln Rectangular and you can Uptown communities from Chicago, and multiple suburbs.

Bridgeview Bank’s webpages was

“We’re really thrilled to enjoy Bridgeview Bank customers and you will associates in order to First Midwest,” told you Michael L. Scudder, Chairman, President and Ceo regarding Earliest Midwest. “Bridgeview is a properly-depending and you may trusted standard bank that have strong visitors and people relationships, which i anticipate carried on. Signing up for pushes with Bridgeview will bring to all the of our subscribers a keen longer footprint round the il and additional advances all of our status since location Chicago’s largest commercial bank.”

“Earliest Midwest has generated high momentum historically on account of their industry-best commitment to dating-created banking also to taking several financial affairs and you can attributes. I considerably enjoy joining him or her,” told you Peter J. Haleas, Chairman from Bridgeview. “The members continues to feel the highly personalized services they have come can be expected off Bridgeview Financial, now on the added benefit of a broader product range and you can characteristics along side large level.”

New merger contract offers a fixed change ratio out-of 0.2767 offers out-of Very first Midwest well-known inventory, and $step one.79 in the cash for every share out of Bridgeview common inventory, that have a total deal value of approximately $145 mil, at the mercy of particular modifications.

Your order is at the mercy of standard regulatory approvals, the brand new approval from Bridgeview’s stockholders while the conclusion of several closure standards, that’s anticipated to close in the next quarter of 2019.

First Midwest (NASDAQ: FMBI) 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 $15 billion of assets and $11 billion of trust assets under management. First Midwest’s principal subsidiary, First Midwest Bank, and other affiliates provide a full range of commercial, treasury management, equipment leasing, consumer, wealth management, trust and private banking products and services through locations in metropolitan Chicago, northwest Indiana, central and western Illinois, and eastern Iowa. Visit First Midwest at firstmidwest.

and maintains its principal executive offices in Bridgeview, Illinois. Bridgeview Bank is a client-focused bank committed to providing an outstanding banking experience for all of its personal and business banking clients. It provides this experience through 13 banking locations throughout greater Chicagoland. bridgeviewbank.

This news release, along with people oral statements created by otherwise to your part out of Very first Midwest, can get have certain “forward-lookin statements” when you look at the concept of the private Securities Litigation Reform Work regarding 1995. Forward-lookin comments were the individuals in accordance with Earliest Midwest’s advised acquisition of Bridgeview, like the costs and you can professionals related therewith additionally the timing thereof. Sometimes, forward-searching statements might be identified by using words particularly as “get,” “you are going to,” “have a tendency to,” “perform,” “is always to,” “you can expect to,” “predict,” “plan,” “want,” “welcome,” “trust,” “guess,” “mindset,” “anticipate,” “project,” “probable,” “possible,” “you’ll be able to,” “target,” “remain,” “get excited,” or “assume” and terms of comparable transfer. Forward-searching comments are not historic facts or pledges out-of coming performance or effects, but alternatively share merely management’s philosophy from future performance or occurrences, many of which, by the the characteristics, are naturally undecided and you will outside management’s control. It’s possible that actual performance and you can incidents can differ, possibly materially, on expected overall performance or incidents expressed during these pass-lookin comments. Earliest Midwest cautions your not to ever place unnecessary dependence on such comments. Forward-searching comments are formulated simply since the latest day from the discharge, and you can Basic Midwest undertakes zero responsibility so you can improve people pass-lookin statements so you can mirror this new recommendations otherwise events or requirements immediately following new date hereof.

Forward-appearing comments was susceptible to specific risks, concerns and you may assumptions, plus, not restricted to: requested synergies, benefit or other monetary or any other benefits associated with brand new proposed purchase ranging from First Midwest and you can Bridgeview is almost certainly not understood in this brand new requested timeframes otherwise will be less than estimated, the latest necessary shareholder and regulating approvals towards the suggested exchange you will not gotten or is almost certainly not obtained when you look at the a timely styles, borrowing from the bank and you may interest dangers regarding the Basic Midwest’s and you may Bridgeview’s particular people, customer credit, repayment, resource and put techniques, and you will general economic conditions, often across the country or even in the market industry elements in which First Midwest and you can Bridgeview services otherwise invited conducting business, can be shorter good than questioned, the latest regulating otherwise legal standards or obligations, or any other dangers, uncertainties and you may presumptions understood according to the sections named “Chance Circumstances” and you may “Management’s Conversation and Research from Economic Reputation and you may Outcome of Procedures” from inside the Very first Midwest’s yearly report about Mode ten-K toward 12 months ended , together with then filings made with brand new Bonds and you can Change Fee (the fresh new “SEC”). not, such threats and you may uncertainties are not exhaustive. Other chapters of particularly profile establish other factors that’ll negatively impression Earliest Midwest’s business, financial abilities and you may pending otherwise consummated purchase purchases, for instance the suggested purchase of Bridgeview.

Bridgeview Financial is an entirely possessed subsidiary out-of Bridgeview Bancorp, Inc

All the information contained here will not constitute a deal to market otherwise an excellent solicitation of an offer to order any bonds otherwise a beneficial solicitation of every choose otherwise payday loans Arkansas approval. To the the suggested merger out-of Very first Midwest and Bridgeview, Very first Midwest will document an enrollment report towards Setting S-cuatro on the SEC. The brand new subscription declaration includes a proxy report out of Bridgeview, that also usually form a beneficial prospectus from Basic Midwest, which will be provided for Bridgeview’s stockholders. Buyers and you can stockholders are advised to take a look at subscription statement and you may proxy statement/prospectus if it becomes offered because tend to consist of information throughout the First Midwest, Bridgeview and also the suggested deal. Whenever filed, that it file and other documents concerning the purchase filed from the Earliest Midwest can be acquired free throughout the SEC’s site on . Such data files can also be obtained free of charge by the being able to access First Midwest’s webpages at the firstmidwest according to the loss “Individual Affairs” following less than “SEC Filings.” Rather, these records can be obtained free out of Basic Midwest through to composed consult in order to Earliest Midwest Bancorp, Inc., Attn: Business Assistant, 8750 Western Bryn Mawr Method, Room 1300, Chicago, Illinois 60631 otherwise from the calling (708) 831-7483, or out-of Bridgeview through to composed consult to Bridgeview Bancorp, Inc., Attn: William Conaghan, Chairman and you may Ceo, 4753 North Broadway, Chi town, Illinois 60640 otherwise from the calling (773) 989-5728.