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SECURITIES AND EXCHANGE COMMISSION
FORM 10-Q/A
Washington, D.C. 20549
(Mark One)
[X] Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange
Act of 1934 for the quarter ended March 31, 1998, or
[_] Transition report pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934 for the transition period from
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to
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Commission File Number 0-10967
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FIRST MIDWEST BANCORP, INC.
(Exact name of Registrant as specified in its charter)
Delaware 36-3161078
(State or other jurisdiction of (IRS Employer Identification No.)
incorporation or organization)
300 Park Blvd., Suite 405, P.O. Box 459
Itasca, Illinois 60143-0459
(Address of principal executive offices) (zip code)
(630) 875-7450
(Registrant's telephone number, including area code)
Common Stock, $.01 Par Value
Preferred Share Purchase Rights
Securities Registered Pursuant to Section 12(g) of the Act
Indicate by check mark whether the Registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the Registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days. Yes [X] No [ ]
As of May 11, 1998, 20,101,396 shares of the Registrant's $.01 par value common
stock were outstanding, excluding treasury shares.
Exhibit Index is located on page 4.
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The undersigned registrant hereby amends Part I, Item 1 of its Quarterly Report
on Form 10-Q for the quarter ended March 31, 1998 to correct the number of
treasury shares reported on the Consolidated Statements of Condition for the
period ended March 31, 1998 to 650,000 shares from the 576,000 shares shown on
the originally filed Form 10-Q.
FIRST MIDWEST BANCORP, INC.
FORM 10-Q
TABLE OF CONTENTS
Part I. FINANCIAL INFORMATION Page
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Item 1. Financial Statements
Consolidated Statements of Condition . . . . . . . . . . . . . . 3
2
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PART I. FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
FIRST MIDWEST BANCORP, INC.
CONSOLIDATED STATEMENTS OF CONDITION
(Amounts in thousands)
<TABLE>
<CAPTION>
March 31, December 31,
1998 /(1)/ 1997 /(2)/
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<S> <C> <C>
Assets
Cash and due from banks.......................................... $ 133,498 $ 117,974
Federal funds sold and other short term investments.............. 7,666 31,055
Mortgages held for sale.......................................... 44,365 26,857
Securities available for sale, at market value................... 1,072,764 974,467
Securities held to maturity, at amortized cost................... 26,720 20,323
Loans............................................................ 2,282,947 2,333,252
Reserve for loan losses.......................................... (35,822) (37,344)
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Net loans........................................................ 2,247,125 2,295,908
Premises, furniture and equipment................................ 58,807 59,219
Accrued interest receivable...................................... 27,129 26,968
Investment in corporate owned life insurance..................... 50,485 --
Other assets..................................................... 60,388 61,402
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Total assets..................................................... $ 3,728,947 $ 3,614,173
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Liabilities
Demand deposits.................................................. $ 487,809 $ 472,868
Savings deposits................................................. 355,505 348,746
NOW accounts..................................................... 304,045 318,413
Money market deposits............................................ 285,731 286,189
Time deposits.................................................... 1,367,077 1,369,759
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Total deposits................................................... 2,800,167 2,795,975
Short-term borrowings............................................ 548,345 438,032
Accrued interest payable......................................... 14,620 15,447
Other liabilities................................................ 26,560 27,207
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Total liabilities................................................ 3,389,692 3,276,661
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Stockholders' equity
Preferred stock, no par value: 1,000 shares authorized, none
issued.......................................................... -- --
Common stock, $.01 par value: 30,000 shares authorized; 20,664
and 20,737 shares issued at March 31, 1998 and December 31,
1997, respectfully; 20,088 and 20,072 outstanding at March 31,
1998 and December 31, 1997, respectively........................ 201 201
Additional paid-in capital....................................... 62,901 63,049
Retained earnings................................................ 288,675 281,770
Accumulated other comprehensive income........................... 1,191 6,644
Treasury stock, at cost: 650 and 665 shares at March 31, 1998
and December 31, 1997, respectively............................. (13,713) (14,152)
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Total stockholders' equity....................................... 339,255 337,512
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Total liabilities and stockholders' equity....................... $ 3,728,947 $ 3,614,173
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</TABLE>
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See notes to consolidated financial statements.
/(1)/ Unaudited
/(2)/ Audited - See December 31, 1997 Form 10-K for Auditors' Report.
3
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
First Midwest Bancorp, Inc.
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DONALD J. SWISTOWICZ
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Date: November 12, 1998 Donald J. Swistowicz
Executive Vice President *
* Duly authorized to sign on behalf of the Registrant.
EXHIBIT INDEX
Exhibit Sequential
Number Description of Documents Page Number
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27 Financial Data Schedule 5
4
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 9
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
<PERIOD-END> MAR-31-1998
<CASH> 133,498
<INT-BEARING-DEPOSITS> 1,795
<FED-FUNDS-SOLD> 5,871
<TRADING-ASSETS> 0
<INVESTMENTS-HELD-FOR-SALE> 1,072,764
<INVESTMENTS-CARRYING> 26,720
<INVESTMENTS-MARKET> 27,060
<LOANS> 2,282,947
<ALLOWANCE> 35,822
<TOTAL-ASSETS> 3,728,947
<DEPOSITS> 2,800,167
<SHORT-TERM> 548,345
<LIABILITIES-OTHER> 41,180
<LONG-TERM> 0
<COMMON> 201
0
0
<OTHER-SE> 339,054
<TOTAL-LIABILITIES-AND-EQUITY> 3,728,947
<INTEREST-LOAN> 51,957
<INTEREST-INVEST> 15,694
<INTEREST-OTHER> 856
<INTEREST-TOTAL> 68,507
<INTEREST-DEPOSIT> 25,565
<INTEREST-EXPENSE> 31,918
<INTEREST-INCOME-NET> 36,589
<LOAN-LOSSES> 1,118
<SECURITIES-GAINS> (40)
<EXPENSE-OTHER> 28,444
<INCOME-PRETAX> 16,798
<INCOME-PRE-EXTRAORDINARY> 11,442
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 11,442
<EPS-PRIMARY> .57
<EPS-DILUTED> .56
<YIELD-ACTUAL> 4.48
<LOANS-NON> 19,272
<LOANS-PAST> 9,080
<LOANS-TROUBLED> 0
<LOANS-PROBLEM> 20,256
<ALLOWANCE-OPEN> 37,344
<CHARGE-OFFS> 3,455
<RECOVERIES> 815
<ALLOWANCE-CLOSE> 35,822
<ALLOWANCE-DOMESTIC> 11,310
<ALLOWANCE-FOREIGN> 0
<ALLOWANCE-UNALLOCATED> 24,512
</TABLE>
