First Midwest Bank

8750 West Bryn Mawr Avenue Suite 1300
Chicago, IL 60631

 

2018 Overview

General Bank Information

FDIC Insured Yes
FDIC Certificate # 3709
Date Established 1933
Assets $14.31 billion
Loans $10.59 billion
Deposits $11.30 billion
Capital $1.88 billion

First Midwest Bank is an FDIC insured institution located in Chicago, IL. It was founded in 1933 and has approximately $14.31 billion in assets. Customers can open an account at one of its 146 branches.

For a more detailed analysis of First Midwest Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Bank Loan Profile?

The top three loan types in First Midwest Bank’s loan portfolio are Commercial Real Estate, Commercial and Industrial Loans, and 1-4 Family Residential Loans.

Compared to other banks in Illinois, First Midwest Bank has a significantly higher percent of Commercial and Industrial Loans on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 17.50
Multifamily
Mortgages
8.03
Credit Card Loans 0.00
Consumer Auto Loans 1.03
Small Business Loans 5.99
Construction and Development Loans 4.42
Commercial Real Estate 30.35
Commercial and Industrial Loans 29.74
Farm Loans 1.90

Deposit Rates - August 17, 2018

Your Current Location: Virginia, VA 20146

CD Rates APY MIN MAX
3 Mo CD 10K
0.05% $1,000 $24,999 Learn MoreShow Less
3 Mo CD 100K
0.11% $100,000 - Learn MoreShow Less
6 Mo CD 10K
0.08% $1,000 $24,999 Learn MoreShow Less
6 Mo CD 100K
0.14% $100,000 - Learn MoreShow Less
Savings Rates APY MIN MAX
Fixed IRA Rates APY MIN MAX
Fixed IRA 0K
0.15% $1 $24,999 Learn MoreShow Less
Special: 13 Mo FIRA
2.23% $5,000 - Learn MoreShow Less
Special: 23 Mo FIRA
2.48% $10,000 - Learn MoreShow Less
Variable IRA Rates APY MIN MAX
Var IRA 0K
0.15% $1 - Learn MoreShow Less
MM Rates APY MIN MAX
MM 10K
0.03% $1 - Learn MoreShow Less
PREMM Rates APY MIN MAX
Premium MM 10K
0.04% $2,500 $24,999 Learn MoreShow Less
Premium MM 25K
0.05% $25,000 $49,999 Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg 0K
0.01% $1 $9,999 Learn MoreShow Less

Loan Rates - August 17, 2018

Your Current Location: Virginia, VA 20146

Home Equity Rates APR Rate Monthly Payment
Auto Loan Rates APR Rate Monthly Payment
3 Year 2.90% 2.25% $718.80 Learn MoreShow Less
4 Year 2.99% 2.49% $547.74 Learn MoreShow Less
5 Year 3.36% 2.96% $448.77 Learn MoreShow Less
Refinance Mortgage Rates APR Rate Monthly Payment
Purchase Mortgage Rates APR Rate Monthly Payment

Monthly payments for mortgage products are based on a loan amount of $200,000. Home equity monthly payments are based on a loan amount of $50,000. Auto loan monthly payments are based on a loan amount of $25,000. Rates for each product are based on a variety of factors including credit score and loan amount. For specific requirements please check with the lender. Rates may change at any time.

Branches

First Midwest Bank branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Ashburn,Virginia


First Midwest Bank Locations

Financial Details

First Midwest Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of First Midwest Bank. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
First Midwest Bank U.S. Bank Average
5.44% 7.92%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its the bank’s tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of March 31, 2018, First Midwest Bank had $90,227,000 in non-current loans and $17,255,000 in owned real estate. To cover these potential losses it had $1,881,649,000 in equity and $94,854,000 in loans loss reserves. That gives it a Texas Ratio of 5.44%.

Return on Equity
First Midwest Bank U.S. Bank Average
8.57% 9.35%

First Midwest Bank has a Return on Equity of 8.57% versus the BestCashCow average of 9.35%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Capitalization
First Midwest Bank U.S. Bank Average
13.15% 12.01%

First Midwest Bank has a Capitalization of 13.15% versus the BestCashCow average of 12.01. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

First Midwest Bank Balance Sheet Analysis

As of March 31, 2018, First Midwest Bank had assets of $14,311,937,000, loans of $10,587,890,000, and deposits of $11,303,407,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

ASSETS
Cash & Balances due from depository institutions $0.24 billion
Interest-bearing balances $0.08 billion
Total securities $2.06 billion
Federal funds sold and reverse repurchase $0.00 billion
Net loans and leases $10.59 billion
Loan loss allowance $0.09 billion
Trading account assets $0.00 billion
Bank premises and fixed assets $0.00 billion
Other real estate owned $0.02 billion
Goodwill and other intangibles $0.73 billion
All other assets $0.55 billion
     Total Assets $12.43 billion
LIABILITIES
Total deposits $11.30 billion
      Interest-bearing deposits $7.74 billion
      Deposits held in domestic offices $11.30 billion
      % insured (estimated) 67.13%
Federal funds purchased and repurchase agreements $0.12 billion
Trading liabilities $0.00 billion
Other borrowed funds $0.83 billion
Subordinated debt $0.00 billion
All other liabilities $0.18 billion
      Total Liabilities $12.43 billion
      Shareholders’ Equity $1.88 billion

Summary Income Statement

INCOME AND EXPENSES
Total Interest Income $0.13 billion
Total Interest Expense $0.01 billion
Net interest income $0.12 billion
Provision for loan and lease losses $0.02 billion
Total non interest income $0.03 billion
Total non interest expense $0.09 billion
Pre-tax Net Operating Income $0.05 billion

Frequently Asked Questions About First Midwest Bank

Branches and Savings

Is First Midwest Bank FDIC insured?

Yes. It is covered under FDIC Certificate #3709.

Why does First Midwest Bank pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are First Midwest Bank CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is First Midwest Bank a commercial bank?

Yes

Where are First Midwest Bank locations?

See branch locations nearby.

Is First Midwest Bank open on Saturdays?

Is First Midwest Bank open on Sundays?

What time does First Midwest Bank open?

What time does First Midwest Bank close?

Are First Midwest Bank ATMs Open 24/7?

Do First Midwest Bank ATMs accept cash deposits?

Can First Midwest Bank customers use other ATMs?

Do First Midwest Bank branches have notaries?

Will First Midwest Bank notarize my document?

What address for First Midwest Bank should I put for incoming ACH transfers?

Will the First Midwest Bank branch print checks?

Do First Midwest Bank checks expire?

Does First Midwest Bank require US citizenship to open account?

Can First Midwest Bank close my account?

Does First Midwest Bank Report to credit bureaus?

Does First Midwest Bank Use Equifax?

What is First Midwest Bank's ACH Routing Number?

What is First Midwest Bank's SWIFT code?

Products

Does First Midwest Bank offer mortgages?

Compare mortgage rates here.

Does First Midwest Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does First Midwest Bank offer personal loans?

Compare personal loan rates here.

Does First Midwest Bank offer student loans?

Will First Midwest Bank cash a check?

Will First Midwest Bank redeem a savings bond?

Does First Midwest Bank cash savings bonds?

Will First Midwest Bank cash money orders?

Can First Midwest Bank issue a money order?

Does First Midwest Bank do currency exchange?

Background on The Bank

Who owns First Midwest Bank?

How long has First Midwest Bank been around?

Can First Midwest Bank transfer to other banks?

Does First Midwest Bank have quick pay?

Does First Midwest Bank accept rolled coins?

Will First Midwest Bank accept loose change?

Where is First Midwest Bank headquarters?

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