The First Midwest Bank Story
For almost 75 years, First Midwest has remained true to its purpose. Serving the financial needs of its clients.
We provide more than just solutions. We provide momentum. For your business. Your finances. Your life.
First Midwest combines size and stability with quick response and local decisions. A large array of products with close personal service and specialized segments. And a global perspective with strong local knowledge and deep financial resources.
We are a bank built on partnership, trust and long-term relationships. A partnership where understanding your businesses needs and working together, leads to well-informed decisions. And relationships begin with Relationship Managers who live, work and are empowered to make decisions in the communities they serve. Relationship Managers who advocate for their clients and offer real-world business perspectives to each relationship with a personal responsibility and passion to create success for your business.
First Midwest has a powerful blend of products and services that rival the mega banks combined with the close, personalized solutions of a community bank. Our 15,000+ commercial clients average more than 12 years banking with us. Our Management Team averages over 20 years of service. All with First Midwest.
If you're looking for a bank with the commercial expertise you need and the momentum you want, partner with First Midwest Bank. If you'd like to know more about how we became who we are . . . read on.
Our roots began in the aftermath of the Great Depression as the only Joliet bank to have survived from the 1930's. Three men, C.D Oberwortmann, Andrew Barber and Frank Turk founded Union National Bank and Trust Company of Joliet. Their commitment to "treat the person in the overalls and the person in the business suit the same way," focused on their client's needs – not their net worth. Over the next 40 years that commitment proved to be extremely successful in addition to being the right way to serve clients, and allowed them to grow into a chain of 20 banks, all joined by these strong values.
As the company moved to the next generation of management in the early 80's, a bold vision to unite the chain of banks emerged and a new public entity was created . . . First Midwest Bancorp. Working side-by-side with Illinois lawmakers, they helped write the bill lifting the prohibition on multi-bank holding companies. And, in 1983 their determination paid off as First Midwest merged the stock of those 20 banks – at that time, the largest consolidation of banks ever approved by the Federal Reserve, and began trading on the Nasdaq as FMBI.
Under the First Midwest Bank name and with unwavering focus on meeting the needs of our clients, the bank grew to over $5B in assets by 1998. Our charter was changed from National Bank to State Bank and operations centers were centralized with the corporate headquarters established in Itasca, IL, where it remains today.
As the organization moved into the next century, acquisitions were more prevalent. Multiple banks were added to the First Midwest family and by 2008, the Company had reached $8.5B in assets with over 100 locations in Illinois, eastern Iowa and northwest Indiana. First Midwest has enjoyed numerous accolades beginning in 2010. Recognized multiple times as a Top 100 Workplace by the Chicago Tribune. Deemed one of "America’s Most Trustworthy Companies" by Forbes. 2014 added two bank acquisitions and an equipment leasing division with 2015 bringing two additional bank acquisitions collectively lifting our asset size to over $10 billion and continuing our proud history of bringing momentum to our organization, our clients and our stockholders.