First Midwest Bancorp: 2Q Earnings Snapshot
CHICAGO (AP) _ First Midwest Bancorp Inc. (FMBI) on Tuesday reported second-quarter profit of $47 million.
The bank, based in Chicago, said it had earnings of 43 cents per share. Earnings, adjusted for non-recurring costs, came to 50 cents per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share.
The holding company for First Midwest Bank posted revenue of $216.2 million in the period. Its revenue net of interest expense was $188.8 million, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $185.6 million.
First Midwest Bancorp shares have climbed slightly more than 3% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $20.48, a decrease of 23% in the last 12 months.