First Midwest Bancorp: 2Q Earnings Snapshot
ITASCA, Ill. (AP) _ First Midwest Bancorp Inc. (FMBI) on Tuesday reported second-quarter earnings of $29.6 million.
The Itasca, Illinois-based bank said it had earnings of 29 cents per share. Earnings, adjusted for non-recurring costs, were 40 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 39 cents per share.
The holding company for First Midwest Bank posted revenue of $179 million in the period. Its revenue net of interest expense was $164.4 million, also beating Street forecasts. Six analysts surveyed by Zacks expected $161.1 million.
First Midwest Bancorp shares have risen roughly 9 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $26.10, a climb of 12 percent in the last 12 months.