SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 11-K
ANNUAL REPORT
Pursuant to Section 15(d) of the
Securities Exchange Act of 1934
[X] | ANNUAL REPORT PURSUANT TO SECTION 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 (NO FEE REQUIRED) |
For the fiscal year ended December 31, 2000
OR
[ ] | TRANSACTION REPORT PURSUANT TO SECTION 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 (NO FEE REQUIRED) |
For the transition period from ________to_______
Commission file number: 0-10967
A. | Full title of the plan and the address of the plan if different from that of the issuer named below |
FIRST MIDWEST BANCORP, INC. SAVINGS AND PROFIT SHARING PLAN |
|
| |
B. | Name of the issuer of the securities held pursuant to the plan and the address of its principal executive office: |
First Midwest Bancorp, Inc.
300 Park Boulevard
Suite 405, P. O. Box 459
Itasca, Illinois 60143-0459
Page 1 of 17 Pages Exhibit Index on Page 2 |
| |
REQUIRED INFORMATION
Financial Statements
Items 1 - 3.
| | Omitted in acccordance with Item 4. |
Item 4.
The First Midwest Bancorp, Inc. Savings and Profit Sharing Plan ("Plan") is subject to the Employee Retirement Income Security Act of 1974, as amended ('ERISA'). In accordance with item 4 and in lieu of the requirements of Items 1-3, the following Plan financial statements and schedules prepared in accordance with the financial reporting requirements of ERISA are included herein:
o | Report of Independent Auditors |
o | Statements of Assets Available for Benefits |
o | Statements of Changes in Assets Available for Benefits |
o | Notes to Financial Statements |
o | Supplemental Schedule |
Exhibits
Consent of Ernst & Young LLP | Sequentially
Numbered Page |
17 |
FIRST MIDWEST BANCORP, INC.
SAVINGS AND PROFIT SHARING PLAN
Financial Statements and
Supplemental Schedule
Years Ended December 31, 2000 and 1999
(With Report of Independent Auditors)
FIRST MIDWEST BANCORP, INC. SAVINGS AND PROFIT SHARING PLAN
FORM 11-K
Years Ended December 31, 2000 and 1999
TABLE OF CONTENTS
Report of Independent Auditors | 5 |
| | |
| | |
Financial Statements: |
|
Statements of Assets Available for Benefits
|
6
|
|
Statements of Changes in Assets Available for Benefits
|
7
|
|
Notes to Financial Statements
|
8 - 10
|
| | | |
| | | |
| | | |
Supplemental Schedule: | |
| | |
| | |
| Schedule H, Line 4i - Schedule of Assets (Held At End of Year) | 11 - 15 |
Report of Independent Auditors
The Plan Administrator
First Midwest Bancorp, Inc. Savings and Profit Sharing Plan
We have audited the accompanying statements of assets available for benefits of First Midwest Bancorp, Inc. Savings and Profit Sharing Plan as of December 31, 2000 and 1999, and the related statements of changes in assets available for benefits for the years then ended. These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with auditing standards generally accepted in the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects, the assets available for benefits of the Plan at December 31, 2000 and 1999, and the changes in its assets available for benefits for the years then ended, in conformity with accounting principles generally accepted in the United States.
Our audits were performed for the purpose of forming an opinion on the financial statements taken as a whole. The accompanying supplemental schedule of assets held at the end of the year as of December 31, 2000 is presented for purposes of additional analysis and is not a required part of the financial statements but is supplementary information required by the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement and Income Security Act of 1974. The supplemental schedule is the responsibility of the Plan's management. The supplemental schedule has been subjected to the auditing procedures applied in our audits of the financial statements and, in our opinion, is fairly stated in all material respects in relation to the financial statements taken as a whole.
/s/Ernst & Young LLP
June 1, 2001
FIRST MIDWEST BANCORP, INC. SAVINGS AND PROFIT SHARING PLAN
Statements of Assets Available for Benefits
December 31, 2000 and 1999
|
| | 2000 | | 1999 |
ASSETS | | | | |
Cash | | $ | 1,154 | | $ | 37 |
Investments, at fair value | | 98,168,695 | | 101,157,966 |
| | | | |
Receivables: | | | | |
| Employer contributions | | 393,823 | | 419,308 |
| Participant contributions | | 790 | | - |
| Accrued investment income | | 489,089 | | 451,565 |
| | | | | |
| Total receivables | | 883,702 | | 870,873 |
| | | | | |
Assets available for benefits | | $ | 99,053,551 | | $ | 102,028,876 |
See accompanying notes to financial statements.
FIRST MIDWEST BANCORP, INC. SAVINGS AND PROFIT SHARING PLAN
Statements of Changes in Assets Available for Benefits
Years ended December 31, 2000 and 1999
|
| 2000 | | 1999 |
| | | |
Additions: | | | |
| Investment Income: | | | |
| | Dividends | $ | 1,434,171 | | $ | 1,180,479 |
| | Interest | | 1,051,607 | | 1,040,973 |
| | Net appreciation | | | | |
| | (realized and unrealized) in fair value of investments | | 238,336 | | 12,148,761 |
| | | | | |
| | | Total investment income | | 2,724,114 | | 14,370,213 |
| | | | | | |
| Contributions: | | | | |
| | Employer | | 2,965,674 | | 2,983,257 |
| | Participants | | 2,844,651 | | 2,960,758 |
| | | | | |
| | Total contributions | | 5,810,325 | | 5,944,015 |
| | | | | |
| Other Income | 3,436 | | 32,918 |
| | | | | |
| | Total additions | | 8,537,875 | | | 20,347,146 |
| | | | |
Reductions: | | | |
| Benefits and distributions to participants | | 11,506,300 | | | 9,034,810 |
| Other payments | | 6,900 | | 2,163 |
| | | | | |
| | Total reductions | | 11,513,200 | | 9,036,973 |
| | | | | | |
Change in net assets | | (2,975,325) | | 11,310,173 |
| | | | | |
Assets available for benefits, beginning of year | | 102,028,876 | | 79,190,799 |
| | | | | | |
Transfer from Heritage Financial Services, Inc. Profit Sharing
Plan and Trust | | | | |
- | | 11,527,904 |
| | | | | |
Assets available for benefits, end of year | $ | 99,053,551 | | $ | 102,028,876 |
See accompanying notes to financial statements.
FIRST MIDWEST BANCORP, INC. SAVINGS AND PROFIT SHARING PLAN
Notes to Financial Statements
December 31, 2000 and 1999
1. Description of the Plan
The following brief description of the First Midwest Bancorp, Inc. Savings and Profit Sharing Plan ("Plan") is provided for general information purposes. The Plan document provides more complete information about the Plan.
Background
First Midwest Bancorp, Inc. ("Company") established the Plan effective December 31, 1984. The Plan is a defined-contribution benefit plan covering substantially all full-time and part-time Company employees meeting certain age and length-of-service criteria.
Contributions and Benefit Payments
The Company's contribution to the Plan during 2000 and 1999 included a matching contribution of 2% of eligible participant compensation and a discretionary contribution of up to an additional 6% of eligible participant compensation. Company discretionary contributions are based upon performance of all subsidiaries and the overall consolidated performance of the Company. Participants are fully vested in Company matching contributions and participants become vested in Company discretionary contributions over a period of seven years.
Contributions by participants of up to 10% of eligible compensation are allowed on a tax deferred basis under the provisions of Internal Revenue Code (the Code) Section 401(k), subject to certain limitations. Participant contributions (and earnings thereon) are fully vested.
Participants may direct their contributions as well as Company matching contributions and Company discretionary contributions to any of the investment options offered by the Plan.
Company contributions are reduced by any forfeitures during the year.
Investment of Plan Assets
A trust fund was established for the purpose of holding and investing Plan assets in accordance with the terms of the Trust Agreement between the Company and the Trustee, First Midwest Trust Company, N.A., (Trustee), a subsidiary of the Company and a party-in-interest.
Participant Loans
Participants may borrow from their fund accounts a minimum of $1,000 up to a maximum equal to the lesser of $50,000 or 50% of their vested account balance. Loan terms range from 0-60 months. The loans are secured by the balance in the participant's account and bear interest at a rate commensurate with local prevailing rates as determined quarterly by the plan administrator. Principal and interest are paid ratably through monthly payroll deductions.
2. Summary of Significant Accounting Policies
Basis of Presentation
The accompanying financial statements are prepared under the accrual basis of accounting in accordance with accounting principles generally accepted in the United States.
Investment Valuation and Income Recognition
Investments are reported at fair value which, except for short-term investments and loans to participants, is determined using quoted market prices. Short-term investments and loans to participants are reported at cost and unpaid principal balance, respectively, which approximates market.
Purchases and sales of securities are recorded on a trade-date basis and are accounted for using the specific identification method. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date. Net appreciation (depreciation) in fair value of investments includes realized and unrealized investment gains and losses.
Administrative Expense
Administrative expenses of the Plan are paid from the trust fund, to the extent they are not paid by the Company. Administrative expenses relating to participant loans totaling $6,900 and $2,163 were paid by the Plan's loan account for the years ended December 31, 2000 and 1999, respectively.
Use of Estimates
The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.
3. Investments
During 2000 and 1999, the Plan's investments (including investments bought, sold, and held during the year) appreciated (depreciated) in fair value by:
| | | | | | |
Net Appreciation (Depreciation) in FairValue During the Year Ended December 31,
|
| | | | | | |
| | | | | | | 2000 | | 1999 |
Fair value as determined by quoted market price: | | | | |
| U.S. Government and government agency securities | | $ | 165,190 | | $ | (265,215) |
| Common stocks | | 1,579,908 | | 9,148,950 |
| Corporate bonds, debentures and notes | | 58,390 | | (124,810) |
| Mutual funds | | (102,662) | | 33,386 |
| Common trust funds | | (1,462,490) | | 3,356,450 |
| | | $ | 238,336 | | $ | 12,148,761 |
Dividends received by the Plan on First Midwest common stock during 2000 and 1999 amounted to $1,312,874 and $1,107,513, respectively. Net (depreciation) appreciation on First Midwest Common Trust Funds amounted to ($1,462,490) and $3,356,450, respectively.
As of December 31, 2000 and 1999, the Plan held the following investments that comprised 5% or more of the Plan's net assets:
| | | | | | | Fair Value
at December 31, |
| | | | | | |
| | | | | | | 2000 | | 1999 |
Goldman Sachs Financial Square Prime #462 | | $ | 10,691,602 | | $ | 10,980,846 |
First Midwest Bancorp, Inc. Common Stock: | | | | |
| (1,625,303 shares December 31, 2000 and 1,813,922 shares at
December 31, 1999) | | $ | $46,727,461 | | $ | 48,068,933 |
First Midwest Employee Benefit Equity Fund: | | | | |
| (811,852 units at December 31, 2000 and 889,567 units at
December 31, 1999) | | $ | 18,800,992 | | $ | 22,638,843 |
4. Income Taxes
The Plan has received a determination letter from the Internal Revenue Service, dated June 22, 1996, stating that the Plan is qualified under the Code, as amended and, therefore, the related trust is exempt from taxation. The Plan has been amended and restated since the previous determination letter. Once qualified, the Plan is required to operate in conformity with the Code to maintain its qualification. Management believes the Plan is being operated in compliance with the applicable requirements of the Code and, therefore, income of the related trust is exempt from tax under Section 501(a) of the Code.
The Company is not aware of any activity or transactions that may adversely affect the qualified status of the Plan.
5. Plan Termination
Although it has not expressed any intent to do so, the Company has the right to terminate the Plan at any time. In the event of Plan termination, participants become fully vested in Company contributions.
6. Reconciliation to Form 5500
The financial information provided in the Plan's Form 5500 includes an accrual for benefits that are reportable by participants but have not been paid to them at the Plan year end. This amount was $1,569,020 for 2000 and $1,275,775 for 1999, respectively. In accordance with accounting principles generally accepted in the United States, this liability is not recognized in the accompanying financial statements.
Plan Acquisitions
On July 1, 1998, the Company acquired Heritage Financial Services, Incorporated whose principal subsidiary was Heritage Bank. The Heritage Financial Services, Incorporated Profit Sharing Plan ("Heritage Plan") was merged into the Plan on January 1, 1999. Assets of the Heritage Plan were transferred to the Plan, and were allocated to participants and beneficiaries in the same manner and amounts under the Plan as prescribed by ERISA.
FIRST MIDWEST BANCORP, INC. SAVINGS AND PROFIT SHARING PLAN
(Plan 002: 36-3161078)
Schedule H, Line 4i - Schedule of Assets (Held At End of Year)
December 31, 2000 |
| | | | c. Description | | | | |
a. (Note) | | b. Identity of Issue | | Maturity
Date | | Interest
Rate | | Par Value/
Number
of Shares | | d. Cost | | e. Current
Value |
SHORT-TERM INVESTMENT | | | | | | | | | | |
| Short-Term Investment Fund: | | | | | | | | | | |
| Goldman Sachs Financial Square Prime Fund #462 | | | | 6.500% | | | | $ | 10,691,602 | | $ | 10,691,602 |
| | | | | | | | | | | | |
U.S. GOVERNMENT AND GOVERNMENT AGENCY SECURITIES | | | | |
| Long-Term Government and | | | | | | | | | | |
| | Goverment Agency Securities | | | | | | | | | | |
| | United States Treasury Note | | 08/15/02 | | 6.375% | | 450,000 | | 450,121 | | 457,875 |
| | United States Treasury Note | | 02/15/03 | | 6.250% | | 250,000 | | 248,558 | | 255,391 |
| | United States Treasury Note | | 02/15/04 | | 5.875% | | 100,000 | | 100,953 | | 102,063 |
| | United States Treasury Note | | 05/15/04 | | 7.250% | | 100,000 | | 102,094 | | 106,469 |
| | United States Treasury Note | | 08/15/04 | | 7.250% | | 425,000 | | 429,621 | | 454,353 |
| | United States Treasury Note | | 05/15/05 | | 6.500% | | 300,000 | | 306,602 | | 316,595 |
| | United States Treasury Note | | 05/15/06 | | 6.875% | | 100,000 | | 101,875 | | 108,219 |
| | United States Treasury Note | | 10/15/06 | | 6.500% | | 450,000 | | 462,086 | | 480,375 |
| | United States Treasury Note | | 02/15/07 | | 6.250% | | 100,000 | | 95,406 | | 105,719 |
| | United States Treasury Note | | 08/15/07 | | 6.125% | | 525,000 | | 542,539 | | 552,891 |
| | United States Treasury Note | | 05/15/08 | | 5.625% | | 200,000 | | 197,672 | | 205,500 |
| | United States Treasury Note | | 08/15/09 | | 6.000% | | 250,000 | | 250,703 | | 263,985 |
| | United States Treasury Note | | 02/15/10 | | 6.500% | | 250,000 | | 256,406 | | 273,672 |
| | Federal Home Loan Mortgage | | 07/15/04 | | 6.250% | | 75,000 | | 74,309 | | 76,359 |
| Short-Term Government and | | | | | | | | | | |
| | Government Agency Securities | | | | | | | | | | |
| | United States Treasury Note | | 04/30/01 | | 6.250% | | 250,000 | | 253,750 | | 250,469 |
| | United States Treasury Note | | 08/31/01 | | 6.500% | | 100,000 | | 99,109 | | 100,562 |
| | United States Treasury Note | | 10/31/01 | | 6.250% | | 175,000 | | 177,906 | | 175,984 |
| | United States Treasury Note | | 11/30/01 | | 5.875% | | 250,000 | | 253,945 | | 250,781 |
| | | | | | | | | | 4,403,655 | | 4,537,262 |
See accompanying Report of Independent Auditors.
FIRST MIDWEST BANCORP, INC. SAVINGS AND PROFIT SHARING PLAN
(Plan 002: 36-3161078)
Schedule H, Line 4i - Schedule of Assets (Held At End of Year)
December 31, 2000 |
| | | | c. Description | | | | |
a. (Note) | | b. Identity of Issue | | Maturity
Date | | Interest
Rate | | Par Value/
Number
of Shares | | d. Cost | | e. Current
Value |
CORPORATE BONDS | | | | | | | | | | |
| | ABN AMRO Bank | | 05/31/05 | | 7.250% | | 100,000 | | $ | 101,104 | | $ | 103,200 |
| | Citicorp | | 11/15/08 | | 6.375% | | 250,000 | | 254,147 | | 243,225 |
| | E. I. DuPont De Nemours & Co. | | 10/15/02 | | 6.750% | | 150,000 | | 152,686 | | 152,085 |
| | Ford Motor Credit Co. | | 04/28/03 | | 6.125% | | 300,000 | | 295,971 | | 297,480 |
| | General Electric Cap. Corp. | | 11/15/10 | | 6.875% | | 200,000 | | 198,720 | | 210,080 |
| | McDonald's Corp. | | 09/01/05 | | 6.625% | | 150,000 | | 149,552 | | 151,725 |
| | Merrill Lynch & Co., Inc. | | 08/17/02 | | 7.375% | | 100,000 | | 103,182 | | 101,780 |
| | Norwest Financial Inc. | | 04/15/05 | | 7.500% | | 75,000 | | 76,712 | | 77,948 |
| | Pacific Bell | | 07/15/04 | | 7.000% | | 75,000 | | 74,689 | | 76,845 |
| | Wal-Mart Stores, Inc. | | 03/01/03 | | 6.375% | | 150,000 | | 149,162 | | 151,605 |
| | | | | | | | | | 1,555,925 | | 1,565,973 |
COMMON STOCKS | | | | |
| | Abbott Laboratories | | | | | | 1,570 | | 58,780 | | 76,048 |
| | Adobe Systems Inc. | | | | | | 1,370 | | 59,321 | | 79,718 |
| | Agilent Technologies, Inc. | | | | | | 1,490 | | 83,154 | | 81,578 |
| | Air Products & Chemicals, Inc. | | | | | | 780 | | 29,131 | | 31,980 |
| | Allegheny Technologies Inc. | | | | | | 1,640 | | 29,538 | | 26,035 |
| | Allergan Inc. | | | | | | 1,010 | | 68,779 | | 97,781 |
| | Ambac Financial Group | | | | | | 1,180 | | 46,509 | | 68,809 |
| | Amereda Hess Corp. | | | | | | 915 | | 57,194 | | 66,853 |
| | American Express Co. | | | | | | 1,050 | | 59,194 | | 57,685 |
| | American International Group, Inc. | | | | | | 1,514 | | 83,996 | | 149,224 |
| | Analog Devices Inc. | | | | | | 950 | | 87,831 | | 48,629 |
| | Anheuser-Busch Companies, Inc. | | | | | | 2,450 | | 64,627 | | 111,475 |
| | Ariba Inc. | | | | | | 840 | | 103,855 | | 45,045 |
| | Bed Bath and Beyond Inc. | | | | | | 2,210 | | 52,240 | | 49,449 |
| | Bell South Corp. | | | | | | 2,250 | | 98,215 | | 92,111 |
| | Best Buy Inc. | | | | | | 1,140 | | 69,745 | | 33,702 |
| | Biomet Inc. | | | | | | 1,405 | | 35,167 | | 55,762 |
| | Broadwing Inc. | | | | | | 3,850 | | 104,012 | | 87,830 |
See accompanying Report of Independent Auditors
FIRST MIDWEST BANCORP, INC. SAVINGS AND PROFIT SHARING PLAN
(Plan 002: 36-3161078)
Schedule H, Line 4i - Schedule of Assets (Held At End of Year)
December 31, 2000 |
| | | | c. Description | | | | |
a. (Note) | | b. Identity of Issue | | Maturity
Date | | Interest
Rate | | Par Value/
Number
of Shares | | d. Cost | | e. Current
Value |
| | Brunswick Corp. | | | | | | 1,500 | | $ | 32,249 | | $ | 24,657 |
| | CDW Computer Centers Inc. | | | | | | 900 | | 47,831 | | 25,088 |
| | CIGNA Corp | | | | | | 460 | | 36,781 | | 60,858 |
| | Cardinal Health Inc. | | | | | | 1,490 | | 90,050 | | 148,441 |
| | Chevron Corporation | | | | | | 1,875 | | 154,150 | | 158,321 |
| | Cisco Systems, Inc. | | | | | | 4,140 | | 138,372 | | 158,355 |
| | Citigroup, Inc. | | | | | | 4,526 | | 109,354 | | 231,111 |
| | Coors Adolph Co. | | | | | | 1,000 | | 57,153 | | 80,313 |
| | Corning Inc. | | | | | | 920 | | 52,330 | | 48,588 |
| | Cox Communications Inc. | | | | | | 1,310 | | 60,800 | | 60,998 |
| | Danaher Corporation | | | | | | 500 | | 27,623 | | 34,187 |
| | Darden Restaurants | | | | | | 1,450 | | 27,623 | | 33,169 |
| | Delta Airlines Inc. | | | | | | 320 | | 14,854 | | 16,060 |
| | Disney | | | | | | 2,750 | | 101,651 | | 79,579 |
| | EMC Corp. | | | | | | 1,390 | | 62,349 | | 92,435 |
| | Emerson Electric Corp. | | | | | | 520 | | 29,000 | | 40,983 |
| | Energizer Holdings Inc. | | | | | | 2.860 | | 62,334 | | 61,132 |
| | Exxon Mobil Corp. | | | | | | 1,627 | | 78,783 | | 141,448 |
| | FMC Corp. | | | | | | 480 | | 26,855 | | 34,410 |
* | | First Midwest Bancorp, Inc. | | | | | | 1,625,303 | | 16,274,140 | | 46,727,461 |
| | Ford Motor Co. | | | | | | 1,250 | | 29,477 | | 29,297 |
| | Forest Labs | | | | | | 1,060 | | 119,829 | | 140,847 |
| | General Electric Corp. | | | | | | 5,730 | | 112,969 | | 274,685 |
| | Golden West Financial Corp. | | | | | | 2,210 | | 104,623 | | 149,175 |
| | Hartford Financial Service Group | | | | | | 980 | | 70,907 | | 69,212 |
| | Helmerich & Payne Inc. | | | | | | 1,580 | | 42,306 | | 69,322 |
| | Hewlett Packard Co. | | | | | | 2,360 | | 134,667 | | 74,489 |
| | Intel Corporation | | | | | | 3,170 | | 71,108 | | 95,300 |
| | Ivax Corp. | | | | | | 3,380 | | 96,791 | | 129,454 |
| | Johnson Controls Inc. | | | | | | 730 | | 40,347 | | 37,960 |
| | Juniper Networks Inc. | | | | | | 510 | | 93,960 | | 64,292 |
| | KLA Tencor Corp. | | | | | | 1,830 | | 87,080 | | 61,649 |
| | Keyspan Corp. | | | | | | 150 | | 5,984 | | 6,356 |
| | Kimberly Clark Corp. | | | | | | 1,800 | | 104,079 | | 127,242 |
| | Limited Inc. | | | | | | 2,260 | | 55,010 | | 38,562 |
| | McGraw Hill Companies | | | | | | 770 | | 40,622 | | 45,141 |
See accompanying Report of Independent Auditors | | | | | | | | |
FIRST MIDWEST BANCORP, INC. SAVINGS AND PROFIT SHARING PLAN
(Plan 002: 36-3161078)
Schedule H, Line 4i - Schedule of Assets (Held At End of Year)
December 31, 2000 |
| | | | c. Description | | | | |
a. (Note) | | b. Identity of Issue | | Maturity
Date | | Interest
Rate | | Par Value/
Number
of Shares | | d. Cost | | e. Current
Value |
| | Merck & Co., Inc. | | | | | | 2,040 | | 151,953 | | 190,995 |
| | Merrill Lynch & Co. Inc | | | | | | 1,610 | | 86,688 | | 109,783 |
| | Microsoft Corp.. | | | | | | 2,810 | | 160,597 | | 121,884 |
| | Minnesota Mining and Mfg. Co. | | | | | | 740 | | 69,691 | | 89,170 |
| | Morgan, J.P. & Co. Inc. | | | | | | 890 | | 121,527 | | 147,295 |
| | Morgan Stanley, Dean Witter | | | | | | 1,230 | | 76,708 | | 97,477 |
| | Oracle Systems Corp. | | | | | | 2,840 | | 103,308 | | 82,539 |
| | PMC-Sierra | | | | | | 520 | | 74,721 | | 40,885 |
| | Paycheck Inc. | | | | | | 420 | | 22,139 | | 20,422 |
| | Qwest Communications Intl. Inc. | | | | | | 2,390 | | 113,528 | | 97,691 |
| | Reliant Energy Inc. | | | | | | 3,840 | | 163,490 | | 166,322 |
| | Ryder Sys. Inc. | | | | | | 550 | | 9,084 | | 9,144 |
| | SBC Communications Inc. | | | | | | 2,040 | | 115,944 | | 97,410 |
| | Safeway, Inc. | | | | | | 1,030 | | 40,240 | | 64,375 |
| | Sanmina Corp. | | | | | | 1,110 | | 102,750 | | 85,054 |
| | Scientific Atlanta Inc. | | | | | | 1,170 | | 63,170 | | 38,099 |
| | Sun Microsystems | | | | | | 3,650 | | 171,066 | | 101,744 |
| | Sysco Corp. | | | | | | 4,340 | | 76,209 | | 130,200 |
| | Tiffany & Co. | | | | | | 1,490 | | 51,445 | | 47,121 |
| | Tyco Int'l Ltd. New | | | | | | 1,590 | | 86,522 | | 88,245 |
| | United Technologies Corp. | | | | | | 1,270 | | 68,785 | | 99,854 |
| | Veritas Software Corp. | | | | | | 810 | | 92,980 | | 70,875 |
| | Washington Mutual Inc. | | | | | | 2,720 | | 117,831 | | 144,331 |
| | Westvaco Corp. | | | | | | 1,120 | | 34,699 | | 32,691 |
| | Williams Companies | | | | | | 1,520 | | 70,241 | | 60,706 |
| | | | | | | | | | 22,130,645 | | 53,164,603 |
| | | | | | | | | | | | |
COMMON TRUST FUNDS | | | | |
| | | | | | | | | | | | |
* | | First Midwest Employee
Benefit Equity Fund | | | | | | 811,852 | | 14,064,828 | | 18,800,992 |
| | | | | | | | | | | | |
* | | First Midwest Employee
Benefit Fixed Income Fund | | | | | | 269,267 | | 3,258,518 | | 3,994,463 |
See accompanying Report of Independent Auditors | | | | | | |
FIRST MIDWEST BANCORP, INC. SAVINGS AND PROFIT SHARING PLAN
(Plan 002: 36-3161078)
Schedule H, Line 4i - Schedule of Assets (Held At End of Year)
December 31, 2000 |
| | | | c. Description | | | | |
a. (Note) | | b. Identity of Issue | | Maturity
Date | | Interest
Rate | | Par Value/
Number
of Shares | | d. Cost | | e. Current
Value |
| | | | | | | | | | | | |
| | Vanguard Total Stock Market
Index Fund | | | | | | | | 1,892,733 | | 1,780,894 |
| | | | | | | | | | | | |
| | Vanguard Small
Capitalization Index Fund | | | | | | | | 1,567,766 | | 1,396,204 |
| | | | | | | | | | | | |
| | Fidelity Diversified Fund | | | | | | | | 950,405 | | 927,695 |
| | | | | | | | | | 21,734,250 | | 26,900,248 |
LOANS TO PARTICIPANTS | | | | |
| | | | | | | | | | | | |
| | Participant Loans | | Various | | 7% - 11% | | | | ¾ | | 1,309,007 |
| | | | | | | | | | $ | 60,516,077 | | $ | 98,168,695 |
| | NOTE: An asterisk in column a. denotes an investment in an entity which is a "party-in-interest" as defined by ERISA. | | | | | | |
See accompanying Report of Independent Auditors.
SIGNATURES |
| |
Pursuant to the requirements of the Securities Exchange Act of 1934, the Plan Committee of the First Midwest Bancorp, Inc. Savings and Profit Sharing Plan has caused this annual report to be signed by the undersigned thereunto duly authorized. |
| |
| |
Date: June 22, 2001
| First Midwest Bancorp, Inc.
SAVINGS AND PROFIT SHARING PLAN
/s/ DONALD J. SWISTOWICZ
Donald J. Swistowicz
Member, Plan Committee and Principal Financial and Accounting Officer of First Midwest Bancorp, Inc. |
Exhibit 23
CONSENT OF INDEPENDENT AUDITORS
We consent to the incorporation by reference in the Registration Statement (Form S-8 No. 33-25136) pertaining to the First Midwest Bancorp, Inc. Savings and Profit Sharing Plan of our report dated June 1, 2001 with respect to the financial statements and schedule of the First Midwest Bancorp, Inc. Savings and Profit Sharing Plan included in this Annual Report (Form 11-K) for the year ended December 31, 2000.
/s/Ernst & Young LLP
Chicago, Illinois
June 22, 2001
