Exhibit 99.2
First Midwest Bancorp, Inc.
Selected Financial Information
(Amounts in thousands, except per share data)
2007 | 2006 | 2005 | 2004 | |||||||||||||||||||||||||||||||||
Dec. 31/YTD | 4th Quarter | 3rd Quarter | 2nd Quarter | 1st Quarter | Dec. 31/YTD | 4th Quarter | 3rd Quarter | 2nd Quarter | 1st Quarter | Dec. 31/YTD | Dec. 31/YTD | |||||||||||||||||||||||||
Period-End Balance Sheet | ||||||||||||||||||||||||||||||||||||
Total assets | $ | 8,091,518 | $ | 8,091,518 | $ | 7,884,345 | $ | 8,055,358 | $ | 8,235,110 | $ | 8,441,526 | $ | 8,441,526 | $ | 8,596,864 | $ | 8,692,828 | $ | 8,715,524 | $ | 7,210,151 | $ | 6,863,381 | ||||||||||||
Securities HTM - amortized cost | 97,671 | 97,671 | 92,913 | 104,152 | 103,697 | 91,380 | 91,380 | 98,745 | 116,707 | 121,012 | 56,772 | 64,576 | ||||||||||||||||||||||||
Securities HTM - fair market value | 97,931 | 97,931 | 93,151 | 104,317 | 103,951 | 91,602 | 91,602 | 99,019 | 116,922 | 121,026 | 56,791 | 64,618 | ||||||||||||||||||||||||
Securities AFS - fair market value | 2,134,813 | 2,134,813 | 1,924,357 | 2,183,450 | 2,296,375 | 2,442,674 | 2,442,674 | 2,561,962 | 2,593,715 | 2,654,189 | 2,286,630 | 2,179,438 | ||||||||||||||||||||||||
Mortgages held for sale | 394 | 394 | 1,408 | 5,665 | 3,674 | 4,760 | 4,760 | 6,186 | 3,000 | 3,050 | 4,301 | 4,251 | ||||||||||||||||||||||||
Loans: | ||||||||||||||||||||||||||||||||||||
Commercial and industrial(1) | 1,347,481 | 1,347,481 | 1,378,509 | 1,402,282 | 1,395,876 | 1,413,263 | 1,413,263 | 1,454,222 | 1,423,282 | 1,397,530 | 1,161,660 | 1,146,168 | ||||||||||||||||||||||||
Agricultural | 181,358 | 181,358 | 158,015 | 156,594 | 175,554 | 158,305 | 158,305 | 149,453 | 140,440 | 134,708 | 131,689 | 107,059 | ||||||||||||||||||||||||
Real estate - commercial(1) | 1,982,011 | 1,982,011 | 1,979,019 | 1,943,120 | 1,989,642 | 1,972,985 | 1,972,985 | 1,990,496 | 1,989,393 | 1,927,036 | 1,729,009 | 1,493,855 | ||||||||||||||||||||||||
Real estate - construction(1) | 668,340 | 668,340 | 639,443 | 611,084 | 604,132 | 597,151 | 597,151 | 579,154 | 551,372 | 474,824 | 413,286 | 427,248 | ||||||||||||||||||||||||
Real estate - 1-4 family | 220,741 | 220,741 | 200,694 | 206,506 | 211,489 | 215,464 | 215,464 | 213,614 | 220,377 | 349,934 | 143,286 | 92,512 | ||||||||||||||||||||||||
Direct consumer | 530,641 | 530,641 | 533,885 | 538,662 | 552,809 | 573,128 | 573,128 | 587,556 | 601,420 | 625,189 | 570,042 | 576,691 | ||||||||||||||||||||||||
Indirect consumer | 33,100 | 33,100 | 41,907 | 51,610 | 64,118 | 78,648 | 78,648 | 95,059 | 115,061 | 132,914 | 157,219 | 291,745 | ||||||||||||||||||||||||
Total loans | 4,963,672 | 4,963,672 | 4,931,472 | 4,909,858 | 4,993,620 | 5,008,944 | 5,008,944 | 5,069,554 | 5,041,345 | 5,042,135 | 4,306,191 | 4,135,278 | ||||||||||||||||||||||||
Other Assets: | ||||||||||||||||||||||||||||||||||||
Other earning assets | 19,397 | 19,397 | 20,865 | 20,734 | 17,868 | 5,081 | 5,081 | 3,330 | 4,399 | 5,464 | 1,607 | 330 | ||||||||||||||||||||||||
Total earning assets | 7,215,947 | 7,215,947 | 6,971,015 | 7,223,859 | 7,415,234 | 7,552,839 | 7,552,839 | 7,739,777 | 7,759,166 | 7,825,850 | 6,655,501 | 6,383,873 | ||||||||||||||||||||||||
Corporate owned life insurance | 203,535 | 203,535 | 201,418 | 199,396 | 197,421 | 196,598 | 196,598 | 194,632 | 193,048 | 194,333 | 156,441 | 151,359 | ||||||||||||||||||||||||
Intangibles: | ||||||||||||||||||||||||||||||||||||
Goodwill | 262,195 | 262,195 | 262,195 | 262,196 | 262,195 | 262,195 | 262,195 | 262,229 | 266,037 | 264,900 | 85,962 | 84,547 | ||||||||||||||||||||||||
Other intangibles | 26,040 | 26,040 | 27,146 | 28,251 | 29,357 | 30,463 | 30,463 | 31,610 | 32,766 | 29,939 | 10,035 | 12,165 | ||||||||||||||||||||||||
Total intangibles | 288,235 | 288,235 | 289,341 | 290,447 | 291,552 | 292,658 | 292,658 | 293,839 | 298,803 | 294,839 | 95,997 | 96,712 | ||||||||||||||||||||||||
Deposits: | ||||||||||||||||||||||||||||||||||||
Demand deposits | 1,064,684 | 1,064,684 | 1,082,068 | 1,070,528 | 1,073,065 | 1,124,081 | 1,124,081 | 1,068,815 | 1,125,448 | 1,105,452 | 976,557 | 922,540 | ||||||||||||||||||||||||
Interest bearing deposits | 4,714,177 | 4,714,177 | 4,752,107 | 4,744,216 | 4,834,377 | 5,043,135 | 5,043,135 | 5,160,575 | 5,132,737 | 4,945,387 | 4,171,275 | 3,982,838 | ||||||||||||||||||||||||
Total deposits | 5,778,861 | 5,778,861 | 5,834,175 | 5,814,744 | 5,907,442 | 6,167,216 | 6,167,216 | 6,229,390 | 6,258,185 | 6,050,839 | 5,147,832 | 4,905,378 | ||||||||||||||||||||||||
Fed funds purchased and repurchase agreements | 665,164 | 665,164 | 514,438 | 573,064 | 598,035 | 612,608 | 612,608 | 520,616 | 912,806 | 803,943 | 746,057 | 704,589 | ||||||||||||||||||||||||
Other borrowed funds | 599,064 | 599,064 | 484,064 | 599,126 | 639,621 | 569,660 | 569,660 | 774,700 | 499,747 | 825,141 | 548,475 | 513,743 | ||||||||||||||||||||||||
Subordinated debt | 230,082 | 230,082 | 227,948 | 226,118 | 228,274 | 228,674 | 228,674 | 228,747 | 226,128 | 227,472 | 130,092 | 129,294 | ||||||||||||||||||||||||
Stockholders’ equity | 723,975 | 723,975 | 727,928 | 741,060 | 753,988 | 751,014 | 751,014 | 745,869 | 694,938 | 688,484 | 544,068 | 532,038 | ||||||||||||||||||||||||
Stockholders’ equity, excluding OCI | $ | 735,702 | $ | 735,702 | $ | 764,313 | $ | 776,208 | $ | 770,326 | $ | 766,302 | $ | 766,302 | $ | 747,543 | $ | 728,113 | $ | 711,032 | $ | 552,352 | $ | 521,923 | ||||||||||||
Average Balance Sheet | ||||||||||||||||||||||||||||||||||||
Total assets | $ | 8,091,333 | $ | 7,920,731 | $ | 7,991,143 | $ | 8,151,473 | $ | 8,307,340 | $ | 8,255,764 | $ | 8,502,699 | $ | 8,597,152 | $ | 8,668,348 | $ | 7,237,200 | $ | 7,042,670 | $ | 6,860,245 | ||||||||||||
Securities - HTM taxable | 9,450 | 8,170 | 9,306 | 9,797 | 10,555 | 9,848 | 9,588 | 9,888 | 9,936 | 9,984 | 10,644 | 11,826 | ||||||||||||||||||||||||
Securities - HTM tax-exempt | 88,099 | 81,814 | 88,407 | 97,716 | 84,485 | 91,046 | 86,951 | 96,413 | 114,720 | 65,808 | 52,611 | 50,079 | ||||||||||||||||||||||||
Securities - AFS taxable | 1,323,163 | 1,194,842 | 1,310,385 | 1,371,869 | 1,418,147 | 1,515,276 | 1,493,117 | 1,569,185 | 1,596,625 | 1,400,563 | 1,587,973 | 1,412,866 | ||||||||||||||||||||||||
Securities - AFS tax-exempt | 906,905 | 915,398 | 864,559 | 896,428 | 952,104 | 998,727 | 1,021,820 | 1,037,147 | 1,041,464 | 892,653 | 643,422 | 658,998 | ||||||||||||||||||||||||
Total loans | 4,943,479 | 4,921,210 | 4,895,800 | 4,944,483 | 5,013,967 | 4,869,360 | 5,046,665 | 5,037,574 | 5,063,873 | 4,319,484 | 4,214,750 | 4,143,067 | ||||||||||||||||||||||||
Other earning assets | 30,507 | 26,955 | 29,798 | 33,590 | 31,741 | 10,892 | 10,459 | 8,552 | 10,767 | 13,853 | 7,917 | 30,344 | ||||||||||||||||||||||||
Total earning assets | 7,301,603 | 7,148,389 | 7,198,255 | 7,353,883 | 7,510,999 | 7,495,149 | 7,668,600 | 7,758,759 | 7,837,385 | 6,702,345 | 6,517,317 | 6,307,180 | ||||||||||||||||||||||||
Deposits: | ||||||||||||||||||||||||||||||||||||
Demand deposits | 1,055,251 | 1,050,954 | 1,051,292 | 1,061,987 | 1,056,880 | 1,052,413 | 1,086,979 | 1,083,334 | 1,106,177 | 931,104 | 931,711 | 894,093 | ||||||||||||||||||||||||
Savings deposits | 754,009 | 788,526 | 774,133 | 746,702 | 705,543 | 653,321 | 679,681 | 674,039 | 697,663 | 560,364 | 615,324 | 646,214 | ||||||||||||||||||||||||
NOW accounts | 900,956 | 885,966 | 941,488 | 905,683 | 870,064 | 924,539 | 936,793 | 992,916 | 991,743 | 774,166 | 893,706 | 921,635 | ||||||||||||||||||||||||
Money market deposits | 859,864 | 854,409 | 864,001 | 858,639 | 862,452 | 867,775 | 882,627 | 919,889 | 948,992 | 717,199 | 672,411 | 732,456 | ||||||||||||||||||||||||
Core transactional deposits | 3,570,080 | 3,579,855 | 3,630,914 | 3,573,011 | 3,494,939 | 3,498,048 | 3,586,080 | 3,670,178 | 3,744,575 | 2,982,833 | 3,113,152 | 3,194,398 | ||||||||||||||||||||||||
Time deposits > $100,000 | 827,907 | 810,802 | 822,079 | 844,232 | 834,844 | 746,036 | 854,693 | 805,129 | 699,235 | 621,877 | 604,270 | 510,490 | ||||||||||||||||||||||||
Time deposits < $100,000 | 1,491,995 | 1,429,534 | 1,386,797 | 1,491,777 | 1,663,599 | 1,683,866 | 1,713,424 | 1,731,613 | 1,760,261 | 1,527,599 | 1,361,440 | 1,185,868 | ||||||||||||||||||||||||
Total time deposits | 2,319,902 | 2,240,336 | 2,208,876 | 2,336,009 | 2,498,443 | 2,429,902 | 2,568,117 | 2,536,742 | 2,459,496 | 2,149,476 | 1,965,710 | 1,696,358 | ||||||||||||||||||||||||
Total deposits | 5,889,982 | 5,820,191 | 5,839,790 | 5,909,020 | 5,993,382 | 5,927,950 | 6,154,197 | 6,206,920 | 6,204,071 | 5,132,309 | 5,078,862 | 4,890,756 | ||||||||||||||||||||||||
FFP, repos, other borrowed funds | 1,131,700 | 1,046,041 | 1,093,068 | 1,162,315 | 1,227,797 | 1,339,826 | 1,265,370 | 1,343,671 | 1,447,591 | 1,303,041 | 1,235,205 | 1,253,419 | ||||||||||||||||||||||||
Subordinated debt | 227,756 | 227,973 | 226,180 | 228,229 | 228,667 | 206,449 | 228,746 | 226,187 | 227,460 | 142,236 | 130,377 | 128,454 | ||||||||||||||||||||||||
Total funding sources | 7,249,438 | 7,094,205 | 7,159,038 | 7,299,564 | 7,449,846 | 7,474,225 | 7,648,313 | 7,776,778 | 7,879,122 | 6,577,586 | 6,444,444 | 6,272,629 | ||||||||||||||||||||||||
Stockholders’ equity | 750,111 | 738,664 | 741,820 | 760,010 | 760,277 | 695,020 | 762,535 | 724,695 | 698,388 | 592,263 | 538,515 | 530,721 |
Note: See the “Source of Information” Section Located at the End of this Document for a Discussion of the Data Included Herein.
First Midwest Bancorp, Inc.
Selected Financial Information
(Amounts in thousands, except per share data)
2007 | 2006 | 2005 | 2004 | |||||||||||||||||||||||||||||||||||||||||||||
Dec. 31/YTD | 4th Quarter | 3rd Quarter | 2nd Quarter | 1st Quarter | Dec. 31/YTD | 4th Quarter | 3rd Quarter | 2nd Quarter | 1st Quarter | Dec. 31/YTD | Dec. 31/YTD | |||||||||||||||||||||||||||||||||||||
Income Statement | ||||||||||||||||||||||||||||||||||||||||||||||||
Interest income | $ | 476,961 | $ | 114,611 | $ | 120,090 | $ | 120,671 | $ | 121,589 | $ | 476,409 | $ | 125,397 | $ | 126,437 | $ | 123,050 | $ | 101,525 | $ | 366,700 | $ | 315,342 | ||||||||||||||||||||||||
Interest expense | 236,832 | 56,513 | 59,393 | 59,707 | 61,219 | 224,550 | 62,634 | 60,764 | 57,092 | 44,060 | 130,850 | 86,478 | ||||||||||||||||||||||||||||||||||||
Net interest income | 240,129 | 58,098 | 60,697 | 60,964 | 60,370 | 251,859 | 62,763 | 65,673 | 65,958 | 57,465 | 235,850 | 228,864 | ||||||||||||||||||||||||||||||||||||
Loan loss provision | 7,233 | 2,042 | 470 | 1,761 | 2,960 | 10,229 | 3,865 | 2,715 | 2,059 | 1,590 | 8,930 | 12,923 | ||||||||||||||||||||||||||||||||||||
Service charges on deposit accounts | 45,015 | 11,986 | 11,959 | 11,483 | 9,587 | 40,036 | 10,594 | 10,971 | 10,847 | 7,624 | 30,199 | 28,837 | ||||||||||||||||||||||||||||||||||||
Trust and investment management fees | 15,701 | 4,061 | 3,934 | 3,916 | 3,790 | 14,269 | 3,666 | 3,736 | 3,695 | 3,172 | 12,593 | 11,888 | ||||||||||||||||||||||||||||||||||||
Other service charges, commissions, and fees | 22,183 | 5,324 | 5,601 | 6,099 | 5,159 | 20,135 | 5,362 | 5,471 | 4,837 | 4,465 | 17,572 | 15,147 | ||||||||||||||||||||||||||||||||||||
Card-based fees | 15,925 | 3,979 | 4,054 | 4,181 | 3,711 | 13,777 | 3,712 | 3,734 | 3,762 | 2,569 | 10,207 | 9,252 | ||||||||||||||||||||||||||||||||||||
Subtotal, total fee-based revenue | 98,824 | 25,350 | 25,548 | 25,679 | 22,247 | 88,217 | 23,334 | 23,912 | 23,141 | 17,830 | 70,571 | 65,124 | ||||||||||||||||||||||||||||||||||||
Corporate owned life insurance income | 8,033 | 2,117 | 2,023 | 1,982 | 1,911 | 7,616 | 1,966 | 2,206 | 1,940 | 1,504 | 5,163 | 4,939 | ||||||||||||||||||||||||||||||||||||
Security (losses) gains, net | (50,801 | ) | (50,041 | ) | (5,165 | ) | 961 | 3,444 | 4,269 | 3,371 | 509 | 20 | 369 | (3,315 | ) | 8,222 | ||||||||||||||||||||||||||||||||
(Losses) on early extinguishment of debt | — | — | — | — | — | — | — | — | — | — | — | (2,653 | ) | |||||||||||||||||||||||||||||||||||
Other income | 4,197 | 109 | 989 | 2,001 | 1,098 | 3,181 | 982 | 364 | 166 | 1,669 | 2,193 | 3,749 | ||||||||||||||||||||||||||||||||||||
Total noninterest income | 60,253 | (22,465 | ) | 23,395 | 30,623 | 28,700 | 103,283 | 29,653 | 26,991 | 25,267 | 21,372 | 74,612 | 79,381 | |||||||||||||||||||||||||||||||||||
Salaries and employee benefits | 111,598 | 27,686 | 27,354 | 29,008 | 27,550 | 106,201 | 26,507 | 27,023 | 27,039 | 25,632 | 95,179 | 92,171 | ||||||||||||||||||||||||||||||||||||
Occupancy and equipment expense | 32,594 | 8,224 | 8,266 | 7,976 | 8,128 | 30,380 | 7,747 | 8,133 | 7,911 | 6,589 | 25,173 | 24,862 | ||||||||||||||||||||||||||||||||||||
Other real estate expense, net | 972 | 533 | 397 | 71 | (29 | ) | 843 | 96 | 175 | 449 | 123 | 931 | 1,272 | |||||||||||||||||||||||||||||||||||
Other intangibles amortization | 4,423 | 1,106 | 1,106 | 1,105 | 1,106 | 4,039 | 1,148 | 1,156 | 1,175 | 560 | 2,130 | 2,130 | ||||||||||||||||||||||||||||||||||||
Acquisition and restructure charges | 36 | — | — | — | 36 | 1,753 | — | — | 1,753 | — | — | 650 | ||||||||||||||||||||||||||||||||||||
Other expenses | 49,514 | 12,715 | 12,858 | 12,577 | 11,364 | 49,399 | 12,297 | 12,631 | 13,663 | 10,808 | 42,290 | 42,253 | ||||||||||||||||||||||||||||||||||||
Total noninterest expense | 199,137 | 50,264 | 49,981 | 50,737 | 48,155 | 192,615 | 47,795 | 49,118 | 51,990 | 43,712 | 165,703 | 163,338 | ||||||||||||||||||||||||||||||||||||
Pre-tax earnings | 94,012 | (16,673 | ) | 33,641 | 39,089 | 37,955 | 152,298 | 40,756 | 40,831 | 37,176 | 33,535 | 135,829 | 131,984 | |||||||||||||||||||||||||||||||||||
Income taxes | 13,853 | (11,255 | ) | 6,404 | 9,778 | 8,926 | 35,052 | 9,228 | 9,616 | 8,441 | 7,767 | 34,452 | 32,848 | |||||||||||||||||||||||||||||||||||
Net income | $ | 80,159 | $ | (5,418 | ) | $ | 27,237 | $ | 29,311 | $ | 29,029 | $ | 117,246 | $ | 31,528 | $ | 31,215 | $ | 28,735 | $ | 25,768 | $ | 101,377 | $ | 99,136 | |||||||||||||||||||||||
Basic earnings per share | $ | 1.63 | $ | (0.11 | ) | $ | 0.55 | $ | 0.59 | $ | 0.58 | $ | 2.39 | $ | 0.63 | $ | 0.63 | $ | 0.58 | $ | 0.55 | $ | 2.22 | $ | 2.13 | |||||||||||||||||||||||
Diluted earnings per share | $ | 1.62 | $ | (0.11 | ) | $ | 0.55 | $ | 0.59 | $ | 0.58 | $ | 2.37 | $ | 0.63 | $ | 0.62 | $ | 0.57 | $ | 0.55 | $ | 2.21 | $ | 2.12 | |||||||||||||||||||||||
Weighted average shares outstanding | 49,295 | 48,525 | 49,134 | 49,617 | 49,921 | 49,102 | 49,991 | 49,940 | 49,896 | 46,532 | 45,567 | 46,469 | ||||||||||||||||||||||||||||||||||||
Weighted average diluted shares outstanding | 49,622 | 48,754 | 49,447 | 49,984 | 50,322 | 49,469 | 50,392 | 50,315 | 50,244 | 46,879 | 45,893 | 46,860 | ||||||||||||||||||||||||||||||||||||
Tax equivalent adjustment(2) | $ | 20,906 | $ | 5,236 | $ | 4,988 | $ | 5,252 | $ | 5,430 | $ | 23,551 | $ | 5,882 | $ | 6,132 | $ | 6,383 | $ | 5,154 | $ | 16,080 | $ | 17,440 | ||||||||||||||||||||||||
Net interest income (FTE)(2) | $ | 261,035 | $ | 63,334 | $ | 65,685 | $ | 66,216 | $ | 65,800 | $ | 275,410 | $ | 68,645 | $ | 71,805 | $ | 72,341 | $ | 62,619 | $ | 251,930 | $ | 246,304 | ||||||||||||||||||||||||
Stock and related per share data: | ||||||||||||||||||||||||||||||||||||||||||||||||
Book value | $ | 14.94 | $ | 14.94 | $ | 14.94 | $ | 14.97 | $ | 15.16 | $ | 15.01 | $ | 15.01 | $ | 14.92 | $ | 13.92 | $ | 13.81 | $ | 11.99 | $ | 11.55 | ||||||||||||||||||||||||
Tangible book value | 8.99 | 8.99 | 9.00 | 9.10 | 9.30 | 9.16 | 9.16 | 9.04 | 7.93 | 7.89 | 9.87 | 9.45 | ||||||||||||||||||||||||||||||||||||
Dividends declared per share | 1.195 | 0.310 | 0.295 | 0.295 | 0.295 | 1.120 | 0.295 | 0.275 | 0.275 | 0.275 | 1.015 | 0.90 | ||||||||||||||||||||||||||||||||||||
Market price - period high | 39.31 | 36.50 | 36.62 | 38.17 | 39.31 | 39.52 | 39.52 | 38.89 | 37.52 | 37.14 | 39.25 | 38.30 | ||||||||||||||||||||||||||||||||||||
Market price - period low | 29.67 | 29.67 | 31.87 | 34.82 | 36.00 | 32.62 | 36.62 | 34.42 | 34.64 | 32.62 | 31.25 | 31.13 | ||||||||||||||||||||||||||||||||||||
Closing price at period end | $ | 30.60 | $ | 30.60 | $ | 34.16 | $ | 35.51 | $ | 36.75 | $ | 38.68 | $ | 38.68 | $ | 37.89 | $ | 37.08 | $ | 36.57 | $ | 35.06 | $ | 36.29 | ||||||||||||||||||||||||
Closing price to book value | 2.0 | 2.0 | 2.3 | 2.4 | 2.4 | 2.6 | 2.6 | 2.5 | 2.7 | 2.6 | 2.9 | 3.1 | ||||||||||||||||||||||||||||||||||||
Period end shares outstanding | 48,453 | 48,453 | 48,735 | 49,494 | 49,747 | 50,025 | 50,025 | 50,001 | 49,925 | 49,866 | 45,387 | 46,065 | ||||||||||||||||||||||||||||||||||||
Period end treasury shares | 12,873 | 12,873 | 12,591 | 11,832 | 11,579 | 11,301 | 11,301 | 11,325 | 11,401 | 11,460 | 11,540 | 10,862 | ||||||||||||||||||||||||||||||||||||
Number of shares repurchased | 1,767 | 297 | 792 | 338 | 340 | 23 | 1 | 10 | 10 | 2 | 857 | 897 | ||||||||||||||||||||||||||||||||||||
Common dividends | $ | 58,765 | $ | 14,936 | $ | 14,509 | $ | 14,622 | $ | 14,698 | $ | 56,033 | $ | 14,779 | $ | 13,769 | $ | 13,749 | $ | 13,736 | $ | 46,238 | $ | 42,567 | ||||||||||||||||||||||||
Other Key Ratios/Data: | ||||||||||||||||||||||||||||||||||||||||||||||||
Return on average equity(3) | 10.69 | % | -2.91 | % | 14.57 | % | 15.47 | % | 15.48 | % | 16.87 | % | 16.40 | % | 17.09 | % | 16.50 | % | 17.64 | % | 18.83 | % | 18.68 | % | ||||||||||||||||||||||||
Return on average assets(3) | 0.99 | % | -0.27 | % | 1.35 | % | 1.44 | % | 1.42 | % | 1.42 | % | 1.47 | % | 1.44 | % | 1.33 | % | 1.44 | % | 1.44 | % | 1.45 | % | ||||||||||||||||||||||||
Net interest margin(2) | 3.58 | % | 3.53 | % | 3.63 | % | 3.61 | % | 3.53 | % | 3.67 | % | 3.57 | % | 3.69 | % | 3.70 | % | 3.76 | % | 3.87 | % | 3.91 | % | ||||||||||||||||||||||||
Yield on average earning assets(2) | 6.82 | % | 6.67 | % | 6.91 | % | 6.86 | % | 6.83 | % | 6.67 | % | 6.81 | % | 6.79 | % | 6.62 | % | 6.43 | % | 5.87 | % | 5.28 | % | ||||||||||||||||||||||||
Cost of funds | 3.82 | % | 3.71 | % | 3.86 | % | 3.84 | % | 3.88 | % | 3.50 | % | 3.79 | % | 3.60 | % | 3.38 | % | 3.16 | % | 2.37 | % | 1.61 | % | ||||||||||||||||||||||||
Efficiency ratio(2) | 52.50 | % | 53.87 | % | 51.87 | % | 52.13 | % | 52.19 | % | 50.53 | % | 49.56 | % | 49.06 | % | 52.12 | % | 51.51 | % | 49.44 | % | 50.11 | % | ||||||||||||||||||||||||
Net noninterest expense ratio(3) | 1.09 | % | 1.14 | % | 1.06 | % | 1.04 | % | 1.12 | % | 1.13 | % | 1.00 | % | 1.04 | % | 1.24 | % | 1.27 | % | 1.25 | % | 1.30 | % | ||||||||||||||||||||||||
Effective income tax rate | 14.7 | % | 67.5 | % | 19.0 | % | 25.0 | % | 23.5 | % | 23.0 | % | 22.6 | % | 23.6 | % | 22.7 | % | 23.2 | % | 25.4 | % | 24.9 | % | ||||||||||||||||||||||||
Full time equivalent employees - end of period | 1,856 | 1,856 | 1,866 | 1,885 | 1,908 | 1,892 | 1,892 | 1,845 | 1,898 | 2,012 | 1,635 | 1,630 | ||||||||||||||||||||||||||||||||||||
Number of bank offices | 99 | 99 | 100 | 100 | 100 | 99 | 99 | 99 | 99 | 99 | 67 | 67 |
Note: Discussion of footnotes (1) through (3) are located at the end of this document.
Note: See the “Source of Information” Section Located at the End of this Document for a Discussion of the Data Included Herein.
First Midwest Bancorp, Inc.
Selected Financial Information
(Amounts in thousands, except per share data)
2007 | 2006 | 2005 | 2004 | |||||||||||||||||||||||||||||||||||||||||||||
Dec. 31/YTD | 4th Quarter | 3rd Quarter | 2nd Quarter | 1st Quarter | Dec. 31/YTD | 4th Quarter | 3rd Quarter | 2nd Quarter | 1st Quarter | Dec. 31/YTD | Dec. 31/YTD | |||||||||||||||||||||||||||||||||||||
Parent Company Data: | ||||||||||||||||||||||||||||||||||||||||||||||||
Parent investment in subsidiaries - end of period | $ | 861,841 | $ | 861,841 | $ | 870,126 | $ | 873,854 | $ | 891,359 | $ | 887,908 | $ | 887,908 | $ | 907,510 | $ | 882,891 | $ | 698,823 | $ | 604,112 | $ | 596,428 | ||||||||||||||||||||||||
Risk-Based Capital Data: | ||||||||||||||||||||||||||||||||||||||||||||||||
Tier 1 capital | $ | 572,553 | $ | 572,553 | $ | 600,083 | $ | 610,872 | $ | 603,885 | $ | 598,755 | $ | 598,755 | $ | 578,809 | $ | 554,405 | $ | 541,291 | $ | 581,393 | $ | 550,310 | ||||||||||||||||||||||||
Tier 2 capital | 161,708 | 161,708 | 161,317 | 162,293 | 162,299 | 162,266 | 162,266 | 162,264 | 162,250 | 162,207 | 56,393 | 56,718 | ||||||||||||||||||||||||||||||||||||
Total capital | 734,261 | 734,261 | 761,400 | 773,165 | 766,184 | 761,021 | 761,021 | 741,073 | 716,655 | 703,498 | 637,786 | 607,028 | ||||||||||||||||||||||||||||||||||||
Risk-adjusted assets | $ | 6,259,193 | $ | 6,259,193 | $ | 6,256,930 | $ | 6,190,247 | $ | 6,192,407 | $ | 6,259,983 | $ | 6,259,983 | $ | 6,363,958 | $ | 6,415,479 | $ | 6,355,337 | $ | 5,424,063 | $ | 5,267,528 | ||||||||||||||||||||||||
Tier 1 capital / risk-based assets | 9.15 | % | 9.15 | % | 9.59 | % | 9.87 | % | 9.75 | % | 9.56 | % | 9.56 | % | 9.10 | % | 8.64 | % | 8.52 | % | 10.72 | % | 10.45 | % | ||||||||||||||||||||||||
Total capital / risk-based assets | 11.73 | % | 11.73 | % | 12.17 | % | 12.49 | % | 12.37 | % | 12.16 | % | 12.16 | % | 11.64 | % | 11.17 | % | 11.07 | % | 11.76 | % | 11.52 | % | ||||||||||||||||||||||||
Leverage ratio | 7.46 | % | 7.46 | % | 7.75 | % | 7.75 | % | 7.52 | % | 7.29 | % | 7.29 | % | 6.95 | % | 6.59 | % | 7.78 | % | 8.16 | % | 8.16 | % | ||||||||||||||||||||||||
Tangible capital ratio | 5.58 | % | 5.58 | % | 5.77 | % | 5.80 | % | 5.82 | % | 5.62 | % | 5.62 | % | 5.44 | % | 4.72 | % | 4.67 | % | 6.30 | % | 6.43 | % | ||||||||||||||||||||||||
Tangible capital ratio, excluding OCI | 5.73 | % | 5.73 | % | 6.25 | % | 6.26 | % | 6.03 | % | 5.81 | % | 5.81 | % | 5.46 | % | 5.11 | % | 4.94 | % | 6.41 | % | 6.28 | % | ||||||||||||||||||||||||
Tangible equity / risk-based assets | 6.96 | % | 6.96 | % | 7.01 | % | 7.28 | % | 7.47 | % | 7.32 | % | 7.32 | % | 7.10 | % | 6.17 | % | 6.19 | % | 8.26 | % | 8.26 | % | ||||||||||||||||||||||||
Loan Performance Data: | ||||||||||||||||||||||||||||||||||||||||||||||||
Nonaccrual loans: | ||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | $ | 9,477 | $ | 9,477 | $ | 7,440 | $ | 8,815 | $ | 9,318 | $ | 8,803 | $ | 8,803 | $ | 9,424 | $ | 9,841 | $ | 10,803 | $ | 9,092 | $ | 11,267 | ||||||||||||||||||||||||
Real estate - commercial | 5,484 | 5,484 | 2,223 | 2,395 | 3,946 | 3,181 | 3,181 | 4,747 | 2,513 | 2,478 | 371 | 1,774 | ||||||||||||||||||||||||||||||||||||
Real estate - construction | 107 | 107 | 540 | 540 | 540 | 720 | 720 | 559 | 559 | 559 | 559 | 4,159 | ||||||||||||||||||||||||||||||||||||
Real estate - 1-4 family | 583 | 583 | 480 | 717 | 1,405 | 1,413 | 1,413 | 1,373 | 1,263 | 1,920 | 548 | 581 | ||||||||||||||||||||||||||||||||||||
Direct consumer | 2,666 | 2,666 | 1,972 | 2,324 | 2,197 | 1,920 | 1,920 | 1,199 | 1,090 | 1,225 | 1,244 | 1,250 | ||||||||||||||||||||||||||||||||||||
Indirect consumer | 130 | 130 | 116 | 136 | 176 | 172 | 172 | 157 | 181 | 193 | 176 | 166 | ||||||||||||||||||||||||||||||||||||
Total nonaccrual loans | 18,447 | 18,447 | 12,771 | 14,927 | 17,582 | 16,209 | 16,209 | 17,459 | 15,447 | 17,178 | 11,990 | 19,197 | ||||||||||||||||||||||||||||||||||||
Renegotiated / restructured loans | 280 | 280 | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
Nonperforming loans | 18,727 | 18,727 | 12,771 | 14,927 | 17,582 | 16,209 | 16,209 | 17,459 | 15,447 | 17,178 | 11,990 | 19,197 | ||||||||||||||||||||||||||||||||||||
Foreclosed real estate | 6,053 | 6,053 | 4,032 | 3,683 | 3,195 | 2,727 | 2,727 | 4,088 | 4,195 | 4,033 | 2,878 | 3,736 | ||||||||||||||||||||||||||||||||||||
Nonperforming assets | 24,780 | 24,780 | 16,803 | 18,610 | 20,777 | 18,936 | 18,936 | 21,547 | 19,642 | 21,211 | 14,868 | 22,933 | ||||||||||||||||||||||||||||||||||||
Loans past due 90 days + and still accruing | 21,149 | 21,149 | 21,421 | 19,633 | 15,603 | 12,810 | 12,810 | 11,296 | 14,185 | 10,693 | 8,958 | 2,658 | ||||||||||||||||||||||||||||||||||||
Reserve for loan losses (RLL): | ||||||||||||||||||||||||||||||||||||||||||||||||
RLL | $ | 61,800 | $ | 61,800 | $ | 61,412 | $ | 62,391 | $ | 62,400 | $ | 62,370 | $ | 62,370 | $ | 62,370 | $ | 62,359 | $ | 62,320 | $ | 56,393 | $ | 56,718 | ||||||||||||||||||||||||
Loan loss provision | 7,233 | 2,042 | 470 | 1,761 | 2,960 | 10,229 | 3,865 | 2,715 | 2,059 | 1,590 | 8,930 | 12,923 | ||||||||||||||||||||||||||||||||||||
Net charge-offs by category: | ||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | 4,935 | 544 | 1,130 | 1,252 | 2,009 | 5,783 | 2,800 | 1,060 | 998 | 925 | 4,193 | 7,058 | ||||||||||||||||||||||||||||||||||||
Real estate - commercial | 456 | 351 | 5 | 41 | 59 | 1,394 | 278 | 511 | 546 | 59 | 1,167 | 1,370 | ||||||||||||||||||||||||||||||||||||
Real estate - construction | 231 | 17 | — | 18 | 196 | — | — | — | — | — | — | 355 | ||||||||||||||||||||||||||||||||||||
Real estate - 1-4 family | 145 | — | 9 | 10 | 126 | 138 | 9 | 49 | 52 | 28 | 96 | 108 | ||||||||||||||||||||||||||||||||||||
Consumer | 2,036 | 742 | 305 | 449 | 540 | 2,872 | 778 | 1,084 | 457 | 553 | 3,799 | 3,718 | ||||||||||||||||||||||||||||||||||||
Total net charge-offs | 7,803 | 1,654 | 1,449 | 1,770 | 2,930 | 10,187 | 3,865 | 2,704 | 2,053 | 1,565 | 9,255 | 12,609 | ||||||||||||||||||||||||||||||||||||
NPA ratios: | ||||||||||||||||||||||||||||||||||||||||||||||||
Nonperforming loans / loans | 0.38 | % | 0.38 | % | 0.26 | % | 0.30 | % | 0.35 | % | 0.32 | % | 0.32 | % | 0.34 | % | 0.31 | % | 0.34 | % | 0.28 | % | 0.46 | % | ||||||||||||||||||||||||
Nonperforming assets / loans + foreclosed real estate | 0.50 | % | 0.50 | % | 0.34 | % | 0.38 | % | 0.42 | % | 0.38 | % | 0.38 | % | 0.42 | % | 0.39 | % | 0.42 | % | 0.35 | % | 0.55 | % | ||||||||||||||||||||||||
Nonperforming assets + loans past due 90 days / loans + foreclosed real estate | 0.92 | % | 0.92 | % | 0.77 | % | 0.78 | % | 0.73 | % | 0.63 | % | 0.63 | % | 0.65 | % | 0.67 | % | 0.63 | % | 0.55 | % | 0.62 | % | ||||||||||||||||||||||||
Nonperforming assets / total assets | 0.31 | % | 0.31 | % | 0.21 | % | 0.23 | % | 0.25 | % | 0.22 | % | 0.22 | % | 0.25 | % | 0.23 | % | 0.24 | % | 0.21 | % | 0.33 | % | ||||||||||||||||||||||||
Loan loss ratios: | ||||||||||||||||||||||||||||||||||||||||||||||||
RLL / loans | 1.25 | % | 1.25 | % | 1.25 | % | 1.27 | % | 1.25 | % | 1.25 | % | 1.25 | % | 1.23 | % | 1.24 | % | 1.24 | % | 1.31 | % | 1.37 | % | ||||||||||||||||||||||||
RLL / nonperforming loans | 330.00 | % | 330.00 | % | 480.87 | % | 417.97 | % | 354.91 | % | 384.79 | % | 384.79 | % | 357.24 | % | 403.70 | % | 362.79 | % | 470.33 | % | 295.45 | % | ||||||||||||||||||||||||
Net charge-offs to average net loans | 0.16 | % | 0.13 | % | 0.12 | % | 0.14 | % | 0.24 | % | 0.21 | % | 0.30 | % | 0.21 | % | 0.16 | % | 0.15 | % | 0.22 | % | 0.30 | % |
Footnotes:
(1) | Reclassifications have been made to prior period amounts to conform to the current period presentation. |
(2) | Tax equivalent basis reflects federal and state tax benefits. |
(3) | Annualized based on the number of days outstanding for each period presented. |
Source of Information:
The information and statistical data contained herein have been prepared by First Midwest Bancorp, Inc. and have been derived or calculated from selected quarterly and period-end historical financial statements prepared in accordance with accounting principles generally accepted in the United States. The balance sheet and income statement information contained herein as of each year end, and for the years then ended, are derived from financial statements and footnote information audited by Ernst & Young LLP, First Midwest’s independent external auditors. The quarterly balance sheet and income statement information contained herein is derived from quarterly financial statements and footnote information upon which Ernst & Young LLP has rendered a Quarterly Review Report.
First Midwest Bancorp, Inc. is under no obligation to update, keep current or continue to provide the information contained herein. This information is provided solely for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any securities or establish any business relationships with First Midwest Bancorp, Inc. or any of its subsidiaries.