First Midwest Bancorp, Inc. Declares Dividends

CHICAGO, Aug. 21, 2020 (GLOBE NEWSWIRE) -- First Midwest Bancorp, Inc. (the "Company" or "First Midwest"), today announced that its Board of Directors declared a quarterly cash dividend of $0.14 per share on the Company's common stock. This quarterly cash dividend will be payable on October 6, 2020 to common stockholders of record on September 25, 2020 and will represent the 151^st consecutive cash dividend paid by First Midwest since its inception in 1983.

The Board of Directors also declared a quarterly cash dividend of $17.50 per share (equivalent to $0.4375 per depositary share or 1/40^th interest per share) on First Midwest's 7.000% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A FMBIP and Series C FMBIO. The dividends are payable on November 20, 2020 to stockholders of record as of the close of business on November 5, 2020.

About First Midwest

First Midwest 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 approximately $21 billion of assets and an additional $13 billion of assets under management. First Midwest Bank and First Midwest's other affiliates provide a full range of commercial, treasury management, equipment leasing, consumer, wealth management, trust and private banking products and services. First Midwest operates branches and other locations throughout metropolitan Chicago, southeast Wisconsin, northwest Indiana, eastern Iowa and other markets in the Midwest. Visit First Midwest at www.firstmidwest.com.