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, 2001
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. Exhibit Index on Page 2 | |
1
REQUIRED INFORMATION
Financial Statements
Items 1 - 3.
Omitted in accordance 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:
Report of Independent Auditors | |
Statements of Assets Available for Benefits | |
Statements of Changes in Assets Available for Benefits | |
Notes to Financial Statements | |
Supplemental Schedule |
Exhibits
Consent of Ernst & Young LLP | Sequentially |
18 |
2
FIRST MIDWEST BANCORP, INC.
SAVINGS AND PROFIT SHARING PLAN
Financial Statements and
Supplemental Schedule
Years Ended December 31, 2001 and 2000
(With Report of Independent Auditors)
3
FIRST MIDWEST BANCORP, INC. SAVINGS AND PROFIT SHARING PLAN
FORM 11-K
Years Ended December 31, 2001 and 2000
TABLE OF CONTENTS
Report of Independent Auditors | 5 | ||
Financial Statements: | |||
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Supplemental Schedule: | |||
Schedule H, Line 4i - Schedule of Assets (Held At End of Year) | 12 - 16 |
4
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, 2001 and 2000, 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, 2001 and 2000, 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, 2001 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. This 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
May 31, 2002
5
FIRST MIDWEST BANCORP, INC. SAVINGS AND PROFIT SHARING PLAN | |||||||
2001 | 2000 | ||||||
ASSETS | |||||||
Cash | $ | 9,775 | $ | 1,154 | |||
Investments, at fair value | 110,381,338 | 98,168,695 | |||||
Receivables: | |||||||
Employer contributions | 490,317 | 393,823 | |||||
Participant contributions | - | 790 | |||||
Accrued investment income | 460,744 | 489,089 | |||||
Total receivables | 951,061 | 883,702 | |||||
Assets available for benefits | $ | 111,342,174 | $ | 99,053,551 |
See accompanying notes to financial statements.
6
FIRST MIDWEST BANCORP, INC. SAVINGS AND PROFIT SHARING PLAN | ||||||||||
2001 | 2000 | |||||||||
Additions: | ||||||||||
Investment Income: | ||||||||||
Dividends | $ | 1,409,578 | $ | 1,434,171 | ||||||
Interest | 775,333 | 1,051,607 | ||||||||
Net appreciation | ||||||||||
(realized and unrealized) in fair value of investments | 8,093,451 | 238,336 | ||||||||
Total investment income | 10,278,362 | 2,724,114 | ||||||||
Contributions: | ||||||||||
Employer | 3,561,333 | 2,965,674 | ||||||||
Participants | 2,913,362 | 2,844,651 | ||||||||
Total contributions | 6,474,695 | 5,810,325 | ||||||||
Other Income | - | 3,436 | ||||||||
Total additions | 16,753,057 | 8,537,875 | ||||||||
Reductions: | ||||||||||
Benefits and distributions to participants | 4,391,618 | 11,506,300 | ||||||||
Other payments | 4,527 | 6,900 | ||||||||
Other reductions | 68,289 | - | ||||||||
Total reductions | 4,464,434 | 11,513,200 | ||||||||
Change in net assets | 12,288,623 | (2,975,325) | ||||||||
Assets available for benefits, beginning of year | 99,053,551 | 102,028,876 | ||||||||
Assets available for benefits, end of year | $ | 111,342,174 | $ | 99,053,551 |
See accompanying notes to financial statements.
7
FIRST MIDWEST BANCORP, INC. SAVINGS AND PROFIT SHARING PLAN
Notes to Financial Statements
December 31, 2001 and 2000
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 2001 and 2000 included a matching contribution of 2% of eligible participant compensation and an annual discretionary contribution of up to an additional 6% of eligible participant compensation. Matching contributions are made quarterly to participants employed on the last day of the quarter. Discretionary contributions are made only to those employed on the last day of the Plan year. 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.
In November 2001, the ESOP Fund was added to the Plan. Effective December 27, 2001, shares of the Company's common stock, that were held in the FMBI Stock Fund, that related to Company discretionary contributions to participants' accounts, were transferred to the ESOP fund.
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 Bank, (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.
8
FIRST MIDWEST BANCORP, INC. SAVINGS AND PROFIT SHARING PLAN
Notes to Financial Statements (continued)
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 $4,527 and $6,900 were paid by the Plan's loan account for the years ended December 31, 2001 and 2000, 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 2001 and 2000, the Plan's investments (including investments bought, sold, and held during the year) appreciated (depreciated) in fair value by:
| ||||||||||||
2001 | 2000 | |||||||||||
Fair value as determined by quoted market price: | ||||||||||||
U.S. Government and government agency securities | $ | 81,390 | $ | 165,190 | ||||||||
Common stocks | 10,592,402 | 1,579,908 | ||||||||||
Corporate bonds, debentures and notes | 54,962 | 58,390 | ||||||||||
Mutual funds | (347,477) | (102,662) | ||||||||||
Common trust funds | (2,287,826) | (1,462,490) | ||||||||||
$ | 8,093,451 | $ | 238,336 |
9
FIRST MIDWEST BANCORP, INC. SAVINGS AND PROFIT SHARING PLAN
Notes to Financial Statements (continued)
3. Investments (continued)
Dividends received by the Plan on First Midwest common stock during 2001 and 2000 amounted to $1,299,787 and $1,312,874, respectively. Net depreciation on First Midwest Common Trust Funds amounted to $2,287,826 and $1,462,490, respectively.
As of December 31, 2001 and 2000, the Plan held the following investments that comprised 5% or more of the Plan's net assets:
Fair Value | ||||||||||||
2001 | 2000 | |||||||||||
Goldman Sachs Financial Square Prime #462 | $ | 13,374,820 | $ | 10,691,602 | ||||||||
First Midwest Bancorp, Inc. Common Stock: | ||||||||||||
(1,996,006 shares December 31, 2001 and 1,625,203 shares at | $ | 58,263,422 | $ | 46,727,461 | ||||||||
First Midwest Employee Benefit Equity Fund: | ||||||||||||
(836,602 units at December 31, 2001 and 811,852 units at | $ | 16,711,596 | $ | 18,800,992 |
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 payable to participants but have not been paid to them at the Plan year end. This amount was $2,386,010 for 2001 and $1,569,020 for 2000. In accordance with accounting principles generally accepted in the United States, this liability is not recognized in the accompanying financial statements.
10
FIRST MIDWEST BANCORP, INC. SAVINGS AND PROFIT SHARING PLAN
Notes to Financial Statements (continued)
7. Subsequent Events
Effective January 1, 2002, the maximum participant deferral was increased from 10% to 15% of eligible compensation.
Effective January 1, 2002, the portion of participants' accounts related to employee contributions and Company matching contributions invested in the FMBI Stock Fund were transferred to the ESOP Fund. Beginning in 2002, a portion of the Company discretionary contributions will be invested in the ESOP Fund; no employee contributions and Company matching contributions will be credited to this fund. Participants may elect to transfer all or a portion of their ESOP Fund account balance to other investment options offered by the Plan. Employees may not elect to transfer from other investment options into the ESOP Fund. Participants may elect to have any cash dividends paid on the Company common stock held in the ESOP Fund paid in cash to the participant or reinvested in shares of Company common stock held in the ESOP Fund.
Effective July 1, 2002, Retirement Direct will become the new record keeper of the Plan.
11
FIRST MIDWEST BANCORP, INC. SAVINGS AND PROFIT SHARING PLAN | |||||||||||||||||
c. Description | |||||||||||||||||
a. (Note) | b. Identity of Issue | Maturity | Interest | Par Value/ | d. Cost | e. Current | |||||||||||
SHORT-TERM INVESTMENT | |||||||||||||||||
Short-Term Investment Fund: | |||||||||||||||||
Goldman Sachs Financial Square Prime Fund #462 | 2.100% | $ | 13,374,820 | $ | 13,374,820 | ||||||||||||
U.S. GOVERNMENT AND GOVERNMENT AGENCY SECURITIES | |||||||||||||||||
Long-Term Government and | |||||||||||||||||
Goverment Agency Securities | |||||||||||||||||
United States Treasury Note | 02/15/03 | 6.250% | 150,000 | 149,134 | 156,703 | ||||||||||||
United States Treasury Note | 05/15/04 | 7.250% | 100,000 | 102,094 | 108,719 | ||||||||||||
United States Treasury Note | 08/15/04 | 7.250% | 375,000 | 379,077 | 409,571 | ||||||||||||
United States Treasury Note | 05/15/05 | 6.500% | 300,000 | 306,602 | 324,282 | ||||||||||||
United States Treasury Note | 05/15/06 | 6.875% | 100,000 | 101,875 | 110,219 | ||||||||||||
United States Treasury Note | 10/15/06 | 6.500% | 300,000 | 308,057 | 326,813 | ||||||||||||
United States Treasury Note | 02/15/07 | 6.250% | 100,000 | 95,406 | 108,094 | ||||||||||||
United States Treasury Note | 08/15/07 | 6.125% | 475,000 | 490,869 | 511,219 | ||||||||||||
United States Treasury Note | 08/15/09 | 6.000% | 250,000 | 250,703 | 266,563 | ||||||||||||
United States Treasury Note | 02/15/10 | 6.500% | 250,000 | 256,406 | 274,766 | ||||||||||||
Fannie Mae Note | 05/26/04 | 3.180% | 250,000 | 246,094 | 247,325 | ||||||||||||
Federal Home Loan Mortgage Note | 07/15/04 | 6.250% | 75,000 | 74,309 | 79,687 | ||||||||||||
Federal Nat'l Mortgage Assn Note | 10/25/09 | 5.750% | 250,000 | 253,555 | 256,675 | ||||||||||||
Federal Nat'l Mortgage Assn Note | 12/01/15 | 7.000% | 186,325 | 190,925 | 192,992 | ||||||||||||
3,205,106 | 3,373,628 |
12
FIRST MIDWEST BANCORP, INC. SAVINGS AND PROFIT SHARING PLAN | ||||||||||||||||
c. Description | ||||||||||||||||
a. (Note) | b. Identity of Issue | Maturity | Interest | Par Value/ | d. Cost | e. Current | ||||||||||
CORPORATE BONDS | ||||||||||||||||
ABN AMRO Bank | 05/31/05 | 7.250% | 100,000 | $ | 101,104 | $ | 107,720 | |||||||||
Abbott Labs | 07/01/04 | 5.125% | 100,000 | 99,831 | 102,990 | |||||||||||
Alcoa Inc. | 06/01/11 | 6.500% | 150,000 | 153,033 | 154,830 | |||||||||||
Dow Chemical | 01/15/09 | 5.970% | 100,000 | 99,457 | 101,000 | |||||||||||
E. I. DuPont De Nemours & Co. | 10/15/02 | 6.750% | 150,000 | 152,686 | 155,400 | |||||||||||
General Electric Cap. Corp. | 11/15/10 | 6.875% | 200,000 | 198,720 | 213,780 | |||||||||||
General Motors Acceptance Corp. | 01/15/06 | 6.750% | 250,000 | 248,941 | 254,100 | |||||||||||
McDonald's Corp. | 09/01/05 | 6.625% | 150,000 | 149,552 | 153,840 | |||||||||||
Merrill Lynch & Co., Inc. | 08/17/02 | 7.375% | 100,000 | 103,182 | 102,980 | |||||||||||
Norwest Financial Inc. | 04/15/05 | 7.500% | 75,000 | 76,712 | 81,420 | |||||||||||
Pacific Bell | 07/15/04 | 7.000% | 75,000 | 74,689 | 79,988 | |||||||||||
Pfizer Inc. | 02/01/06 | 5.625% | 500,000 | 503,800 | 514,100 | |||||||||||
Pitney Bowes Credit Corp. | 08/15/08 | 5.750% | 100,000 | 99,266 | 99,550 | |||||||||||
Wal-Mart Stores, Inc. | 03/01/03 | 6.375% | 150,000 | 149,162 | 155,925 | |||||||||||
2,210,135 | 2,277,623 | |||||||||||||||
COMMON STOCKS | ||||||||||||||||
AOL Time Warner Inc. | 3,640 | 153,152 | 116,844 | |||||||||||||
AT & T Wireless | 4,500 | 65,275 | 64,665 | |||||||||||||
Adobe Systems Inc. | 1,640 | 65,229 | 50,922 | |||||||||||||
Alcoa Inc. | 1,210 | 39,575 | 43,016 | |||||||||||||
Allergan Inc. | 620 | 43,297 | 46,531 | |||||||||||||
Allstate Corp. | 1,500 | 47,269 | 50,550 | |||||||||||||
Ambac Financial Group | 1,060 | 44,697 | 61,332 | |||||||||||||
Amereda Hess Corp. | 525 | 33,680 | 32,813 | |||||||||||||
American International Group, Inc. | 1,694 | 103,539 | 134,504 | |||||||||||||
Amgen Inc. | 960 | 56,263 | 54,182 | |||||||||||||
Anheuser-Busch Companies, Inc. | 1,940 | 53,540 | 87,707 | |||||||||||||
Autozone Inc. | 260 | 12,856 | 18,668 | |||||||||||||
Ball Corp. | 550 | 35,607 | 38,885 | |||||||||||||
Bank America Corp. | 2,000 | 118,843 | 125,900 | |||||||||||||
Bed, Bath and Beyond Inc. | 2,130 | 52,394 | 72,207 |
13
FIRST MIDWEST BANCORP, INC. SAVINGS AND PROFIT SHARING PLAN | |||||||||||||||||
c. Description | |||||||||||||||||
a. (Note) | b. Identity of Issue | Maturity | Interest | Par Value/ | d. Cost | e. Current | |||||||||||
BellSouth Corp. | 2650 | $ | 113,994 | $ | 101,098 | ||||||||||||
Biomet Inc. | 1,877 | 36,147 | 57,999 | ||||||||||||||
CDW Computer Centers Inc. | 590 | 28,677 | 31,689 | ||||||||||||||
Cardinal Health Inc. | 1,725 | 74,576 | 111,539 | ||||||||||||||
Caterpillar Inc. | 550 | 28,341 | 28,738 | ||||||||||||||
ChevronTexaco Corp. | 1,535 | 126,931 | 137,551 | ||||||||||||||
Cinergy Corp. | 1,880 | 56,964 | 62,848 | ||||||||||||||
Citigroup, Inc. | 3,626 | 105,977 | 183,040 | ||||||||||||||
Cisco Systems Inc. | 5,300 | 164,753 | 95,983 | ||||||||||||||
Countrywide Credit Ind. Inc. | 1,780 | 82,043 | 72,927 | ||||||||||||||
Darden Restaurants Inc. | 1,260 | 25,392 | 44,604 | ||||||||||||||
Dell Computer Corp. | 2,600 | 68,575 | 70,668 | ||||||||||||||
Dial Corp. | 2,000 | 34,068 | 34,300 | ||||||||||||||
Disney | 3,690 | 122,778 | 76,457 | ||||||||||||||
EMC Corp. | 2,300 | 85,630 | 30,912 | ||||||||||||||
Exxon Mobil Corp. | 4,144 | 123,040 | 162,859 | ||||||||||||||
Federal National Mortgage Assn | 1,350 | 111,748 | 107,325 | ||||||||||||||
First Data Corp. | 1,040 | 61,899 | 81,588 | ||||||||||||||
* | First Midwest Bancorp, Inc. | 1,996,006 | 16,212,407 | 58,263,422 | |||||||||||||
Forest Labs | 1,420 | 81,861 | 116,369 | ||||||||||||||
General Dynamics Corp. | 400 | 34,504 | 31,856 | ||||||||||||||
General Electric Corp. | 5,990 | 156,086 | 240,079 | ||||||||||||||
General Mills Inc. | 900 | 39,885 | 46,809 | ||||||||||||||
Golden West Financial Corp. | 1,360 | 67,129 | 80,036 | ||||||||||||||
Grainger, W W Inc. | 750 | 35,181 | 36,000 | ||||||||||||||
Halliburton Co. | 1,900 | 51,857 | 24,890 | ||||||||||||||
Harley Davidson Inc. | 750 | 32,238 | 40,733 | ||||||||||||||
Hartford Financial Svcs Group, Inc. | 590 | 41,101 | 37,070 | ||||||||||||||
Home Depot Inc. | 1,850 | 92,019 | 94,369 | ||||||||||||||
Illinois Tool Works | 550 | 33,375 | 37,246 | ||||||||||||||
Intel Corporation | 4,590 | 116,217 | 144,356 | ||||||||||||||
International Business Machines | 1,090 | 104,548 | 131,846 | ||||||||||||||
Int'l Flavors & Fragrances Inc. | 1,150 | 35,315 | 34,167 | ||||||||||||||
Ivax Corp. | 4,365 | 101,009 | 87,911 |
14
FIRST MIDWEST BANCORP, INC. SAVINGS AND PROFIT SHARING PLAN | |||||||||||||||
c. Description | |||||||||||||||
a. (Note) | b. Identity of Issue | Maturity | Interest | Par Value/ | d. Cost | e. Current Value | |||||||||
Johnson & Johnson Co. | 1,980 | $ | 99,142 | $ | 117,018 | ||||||||||
Johnson Controls Inc. | 680 | 40,082 | 54,910 | ||||||||||||
KLA-TENCOR Corp. | 2,220 | 101,489 | 110,023 | ||||||||||||
Kohl's Corp. | 1,700 | 114,390 | 119,748 | ||||||||||||
Lehman Brothers Hldgs Inc. | 550 | 41,462 | 36,740 | ||||||||||||
Linear Technology Corp. | 1,050 | 49,447 | 40,992 | ||||||||||||
MBNA Corporation | 1,000 | 34,681 | 35,200 | ||||||||||||
McGraw Hill Companies Inc. | 430 | 22,705 | 26,221 | ||||||||||||
Merck & Co., Inc. | 1,020 | 76,711 | 59,976 | ||||||||||||
Microsoft Corp. | 3,360 | 201,794 | 222,600 | ||||||||||||
Minnesota Mining and Mfg. Co. | 540 | 51,867 | 63,833 | ||||||||||||
Morgan Stanley, Dean Witter Discovery Group Inc. | 710 | 43,577 | 39,717 | ||||||||||||
Oracle Systems Corp. | 4,180 | 109,254 | 57,726 | ||||||||||||
PPG Ind. Inc. | 1,750 | 95,569 | 90,510 | ||||||||||||
PPL Corp. | 1,600 | 65,837 | 55,760 | ||||||||||||
Pepsi Bottling Group, Inc. | 3,100 | 68,282 | 72,850 | ||||||||||||
Pfizer Inc. | 3,410 | 138,466 | 135,888 | ||||||||||||
Philip Morris Companies Inc. | 1,070 | 50,334 | 49,059 | ||||||||||||
Proctor & Gamble Co. | 1,150 | 74,368 | 91,000 | ||||||||||||
Pulte Corp. | 490 | 19,186 | 21,888 | ||||||||||||
Ryder Systems Inc. | 1,180 | 20,993 | 26,137 | ||||||||||||
SBC Communications Inc. | 1,950 | 83,958 | 76,381 | ||||||||||||
Sara Lee Corp. | 2,000 | 45,503 | 44,460 | ||||||||||||
Scientific Atlanta Inc. | 2,710 | 100,626 | 64,877 | ||||||||||||
Sears Roebuck and Co. | 1,650 | 75,638 | 78,606 | ||||||||||||
Sempra Energy Inc. | 1,850 | 47,011 | 45,418 | ||||||||||||
Southwest Airlines Co. | 1,085 | 21,698 | 20,051 | ||||||||||||
Sun Microsystems | 4,370 | 171,090 | 53,751 | ||||||||||||
Sunoco Inc. | 850 | 30,770 | 31,739 | ||||||||||||
Suntrust Banks, Inc. | 610 | 38,891 | 38,247 | ||||||||||||
Tenet Healthcare Corp. | 1,100 | 60,419 | 64,592 | ||||||||||||
Tyco Int'l Ltd. | 1,510 | 79,962 | 88,939 | ||||||||||||
United Technologies Corp. | 1,050 | 58,882 | 67,862 | ||||||||||||
Verizon Communications | 2,190 | 119,495 | 103,937 |
15
FIRST MIDWEST BANCORP, INC. SAVINGS AND PROFIT SHARING PLAN | |||||||||||||||||||||||||||||||||||||||
c. Description | |||||||||||||||||||||||||||||||||||||||
a. (Note) | b. Identity of Issue | Maturity | Interest | Par Value/ | d. Cost | e. Current Value | |||||||||||||||||||||||||||||||||
Walgreen Co. | 1,970 | $ | 74,482 | $ | 66,310 | ||||||||||||||||||||||||||||||||||
Washington Mutual Inc. | 3,710 | 111,894 | 121,317 | ||||||||||||||||||||||||||||||||||||
Williams Companies | 1,350 | 39,082 | 34,452 | ||||||||||||||||||||||||||||||||||||
Zimmer Holdings Inc. | 1,850 | 57,338 | 56,499 | ||||||||||||||||||||||||||||||||||||
22,347,856 | 64,523,244 | ||||||||||||||||||||||||||||||||||||||
COMMON TRUST FUNDS | |||||||||||||||||||||||||||||||||||||||
* | First Midwest Employee | 836,602 | 14,649,806 | 16,711,596 | |||||||||||||||||||||||||||||||||||
* | First Midwest Employee | 297,669 | 3,754,638 | 4,736,033 | |||||||||||||||||||||||||||||||||||
18,404,444 | 21,447,629 | ||||||||||||||||||||||||||||||||||||||
MUTUAL FUNDS | |||||||||||||||||||||||||||||||||||||||
Vanguard Total Stock Market | 80,476 | 2,422,201 | 2,079,202 | ||||||||||||||||||||||||||||||||||||
Vanguard Small | 66,815 | 1,424,090 | 1,324,941 | ||||||||||||||||||||||||||||||||||||
Fidelity Diversified Fund | 40,663 | 904,727 | 775,843 | ||||||||||||||||||||||||||||||||||||
4,751,018 | 4,179,986 | ||||||||||||||||||||||||||||||||||||||
LOANS TO PARTICIPANTS | |||||||||||||||||||||||||||||||||||||||
Participant Loans | Various | 7% - 11% | ¾ | 1,204,408 | |||||||||||||||||||||||||||||||||||
$ | 64,293,379 | $ | 110,381,338 | ||||||||||||||||||||||||||||||||||||
NOTE: An asterisk in column a. denotes an investment in an entity which is a "party-in-interest" as defined by ERISA. |
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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. | |
| First Midwest Bancorp, Inc. |
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