Exhibit 99.2
First Midwest Bancorp, Inc.
Selected Financial Information
(Amounts in thousands, except per share data)
2009 | 2008 | 2007 | 2006 | |||||||||||||||||||||||||||||||||
June 30/YTD | 2nd Quarter | 1st Quarter | Dec. 31/YTD | 4th Quarter | 3rd Quarter | 2nd Quarter | 1st Quarter | Dec. 31/YTD | 4th Quarter | 3rd Quarter | Dec. 31/YTD | |||||||||||||||||||||||||
Period-End Balance Sheet | ||||||||||||||||||||||||||||||||||||
Total assets | $ | 7,767,312 | $ | 7,767,312 | $ | 8,252,576 | $ | 8,528,341 | $ | 8,528,341 | $ | 8,246,655 | $ | 8,311,025 | $ | 8,315,368 | $ | 8,091,518 | $ | 8,091,518 | $ | 7,884,345 | $ | 8,441,526 | ||||||||||||
Securities HTM – amortized cost | 86,245 | 86,245 | 81,566 | 84,306 | 84,306 | 85,982 | 94,580 | 95,651 | 97,671 | 97,671 | 92,913 | 91,380 | ||||||||||||||||||||||||
Securities AFS – fair market value | 1,450,082 | 1,450,082 | 1,901,919 | 2,216,186 | 2,216,186 | 2,024,881 | 2,106,461 | 2,100,602 | 2,080,046 | 2,080,046 | 1,869,590 | 2,387,788 | ||||||||||||||||||||||||
FHLB and FRB stock | 54,768 | 54,768 | 54,768 | 54,767 | 54,767 | 54,767 | 54,767 | 54,767 | 54,767 | 54,767 | 54,767 | 54,886 | ||||||||||||||||||||||||
Loans: | ||||||||||||||||||||||||||||||||||||
Commercial and industrial | 1,457,413 | 1,457,413 | 1,508,175 | 1,490,101 | 1,490,101 | 1,485,541 | 1,448,723 | 1,396,665 | 1,347,481 | 1,347,481 | 1,378,509 | 1,413,263 | ||||||||||||||||||||||||
Agricultural | 210,675 | 210,675 | 219,178 | 216,814 | 216,814 | 234,755 | 281,002 | 257,505 | 235,498 | 235,498 | 211,142 | 213,730 | ||||||||||||||||||||||||
Real estate – office, retail, and industrial | 1,117,748 | 1,117,748 | 1,086,987 | 1,025,241 | 1,025,241 | 999,319 | 951,776 | 908,098 | 824,078 | 824,078 | 930,386 | 895,666 | ||||||||||||||||||||||||
Real estate – residential construction | 442,300 | 442,300 | 466,195 | 509,059 | 509,059 | 509,974 | 510,818 | 515,052 | 505,194 | 505,194 | 468,635 | 451,186 | ||||||||||||||||||||||||
Real estate – commercial construction | 204,042 | 204,042 | 232,675 | 258,253 | 258,253 | 229,492 | 246,668 | 255,463 | 244,904 | 244,904 | 243,397 | 209,064 | ||||||||||||||||||||||||
Real estate – multifamily | 305,976 | 305,976 | 311,865 | 286,963 | 286,963 | 237,506 | 218,805 | 209,087 | 217,266 | 217,266 | 181,077 | 278,009 | ||||||||||||||||||||||||
Real estate – other commercial | 878,890 | 878,890 | 832,851 | 827,651 | 827,651 | 776,104 | 768,308 | 731,960 | 804,769 | 804,769 | 1,038,364 | 736,211 | ||||||||||||||||||||||||
Real estate – 1-4 family | 171,186 | 171,186 | 185,486 | 198,197 | 198,197 | 205,851 | 213,295 | 224,895 | 220,741 | 220,741 | 200,694 | 215,464 | ||||||||||||||||||||||||
Consumer | 534,303 | 534,303 | 543,716 | 547,784 | 547,784 | 545,040 | 542,960 | 547,040 | 563,741 | 563,741 | 575,792 | 651,776 | ||||||||||||||||||||||||
Total loans | 5,322,533 | 5,322,533 | 5,387,128 | 5,360,063 | 5,360,063 | 5,223,582 | 5,182,355 | 5,045,765 | 4,963,672 | 4,963,672 | 5,227,996 | 5,064,369 | ||||||||||||||||||||||||
Other Assets: | ||||||||||||||||||||||||||||||||||||
Other earning assets | 19,926 | 19,926 | 14,626 | 20,584 | 20,584 | 15,816 | 18,060 | 19,113 | 19,397 | 19,397 | 20,865 | 5,081 | ||||||||||||||||||||||||
Total earning assets | 6,933,554 | 6,933,554 | 7,440,007 | 7,735,906 | 7,735,906 | 7,405,028 | 7,456,223 | 7,315,898 | 7,215,947 | 7,215,947 | 7,267,539 | 7,608,264 | ||||||||||||||||||||||||
Bank owned life insurance | 197,564 | 197,564 | 199,070 | 198,533 | 198,533 | 207,390 | 206,132 | 203,987 | 203,535 | 203,535 | 201,418 | 196,598 | ||||||||||||||||||||||||
Goodwill and other intangibles | 282,592 | 282,592 | 283,570 | 284,548 | 284,548 | 285,643 | 286,737 | 287,141 | 288,235 | 288,235 | 289,341 | 292,658 | ||||||||||||||||||||||||
Deposits: | ||||||||||||||||||||||||||||||||||||
Demand deposits | 1,058,553 | 1,058,553 | 1,046,660 | 1,040,763 | 1,040,763 | 1,056,905 | 1,077,659 | 1,060,545 | 1,064,684 | 1,064,684 | 1,082,068 | 1,124,081 | ||||||||||||||||||||||||
Interest bearing deposits | 4,708,103 | 4,708,103 | 4,461,722 | 4,544,991 | 4,544,991 | 4,601,379 | 4,707,504 | 4,661,017 | 4,714,177 | 4,714,177 | 4,752,107 | 5,043,135 | ||||||||||||||||||||||||
Total deposits | 5,766,656 | 5,766,656 | 5,508,382 | 5,585,754 | 5,585,754 | 5,658,284 | 5,785,163 | 5,721,562 | 5,778,861 | 5,778,861 | 5,834,175 | 6,167,216 | ||||||||||||||||||||||||
Fed funds purchased and repurchase agreements | 566,794 | 566,794 | 685,016 | 737,598 | 737,598 | 928,966 | 676,571 | 569,662 | 665,164 | 665,164 | 514,438 | 612,608 | ||||||||||||||||||||||||
Other borrowed funds | 225,382 | 225,382 | 850,736 | 960,736 | 960,736 | 625,737 | 813,337 | 844,064 | 599,064 | �� | 599,064 | 484,064 | 569,660 | |||||||||||||||||||||||
Subordinated debt | 232,342 | 232,342 | 232,375 | 232,409 | 232,409 | 232,442 | 232,476 | 232,509 | 230,082 | 230,082 | 227,948 | 228,674 | ||||||||||||||||||||||||
Stockholders’ equity | 892,053 | 892,053 | 903,612 | 908,279 | 908,279 | 718,909 | 724,034 | 737,927 | 723,975 | 723,975 | 727,928 | 751,014 | ||||||||||||||||||||||||
Stockholders’ equity, excluding OCI | 941,535 | 941,535 | 941,082 | 926,321 | 926,321 | 770,716 | 759,983 | 747,260 | 735,702 | 735,702 | 764,313 | 766,302 | ||||||||||||||||||||||||
Stockholders’ equity, common | 699,053 | 699,053 | 710,612 | 715,949 | 715,949 | 718,909 | 724,034 | 737,927 | 723,975 | 723,975 | 727,928 | 751,014 | ||||||||||||||||||||||||
Stockholders’ equity, common excluding OCI | 748,535 | 748,535 | 748,082 | 733,991 | 733,991 | 770,716 | 759,983 | 747,260 | 735,702 | 735,702 | 764,313 | 766,302 | ||||||||||||||||||||||||
Stockholders’ equity, preferred | 193,000 | 193,000 | 193,000 | 192,330 | 192,330 | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Average Balance Sheet | ||||||||||||||||||||||||||||||||||||
Total assets | $ | 8,311,641 | $ | 8,195,690 | $ | 8,428,879 | $ | 8,225,440 | $ | 8,365,535 | $ | 8,275,818 | $ | 8,187,594 | $ | 8,070,724 | $ | 8,091,333 | $ | 7,920,731 | $ | 7,991,143 | $ | 8,255,764 | ||||||||||||
Securities – HTM taxable | 7,512 | 7,454 | 7,571 | 7,670 | 7,575 | 7,647 | 7,701 | 7,756 | 9,450 | 8,170 | 9,306 | 9,848 | ||||||||||||||||||||||||
Securities – HTM tax-exempt | 77,274 | 79,129 | 75,398 | 84,718 | 78,089 | 82,213 | 90,682 | 87,991 | 88,099 | 81,814 | 88,407 | 91,046 | ||||||||||||||||||||||||
Securities – AFS taxable | 1,103,206 | 990,358 | 1,217,308 | 1,171,264 | 1,195,909 | 1,192,899 | 1,162,348 | 1,133,390 | 1,268,389 | 1,140,075 | 1,255,618 | 1,456,220 | ||||||||||||||||||||||||
Securities – AFS tax-exempt | 851,101 | 810,485 | 892,169 | 936,933 | 917,418 | 931,565 | 943,278 | 955,745 | 906,905 | 915,398 | 864,559 | 998,727 | ||||||||||||||||||||||||
FHLB and FRB stock | 54,768 | 54,768 | 54,768 | 54,767 | 54,767 | 54,767 | 54,767 | 54,767 | 54,774 | 54,767 | 54,767 | 59,056 | ||||||||||||||||||||||||
Total loans | 5,372,514 | 5,366,193 | 5,378,905 | 5,149,879 | 5,275,981 | 5,205,188 | 5,097,586 | 5,018,767 | 4,943,479 | 4,921,210 | 4,895,800 | 4,869,360 | ||||||||||||||||||||||||
Other earning assets | 73,630 | 129,716 | 16,921 | 35,310 | 58,231 | 24,868 | 37,327 | 20,676 | 30,507 | 26,955 | 29,798 | 10,892 | ||||||||||||||||||||||||
Total earning assets | 7,540,005 | 7,438,103 | 7,643,040 | 7,440,541 | 7,587,970 | 7,499,147 | 7,393,689 | 7,279,092 | 7,301,603 | 7,148,389 | 7,198,255 | 7,495,149 | ||||||||||||||||||||||||
Deposits: | ||||||||||||||||||||||||||||||||||||
Demand deposits | 1,036,368 | 1,044,033 | 1,028,617 | 1,043,972 | 1,043,596 | 1,053,530 | 1,053,339 | 1,025,320 | 1,055,251 | 1,050,954 | 1,051,292 | 1,052,413 | ||||||||||||||||||||||||
Savings deposits | 755,402 | 762,375 | 748,350 | 792,524 | 748,065 | 784,646 | 823,196 | 814,764 | 754,009 | 788,526 | 774,133 | 653,321 | ||||||||||||||||||||||||
NOW accounts | 960,426 | 1,026,432 | 893,687 | 935,429 | 923,643 | 983,364 | 953,808 | 880,505 | 900,956 | 885,966 | 941,488 | 924,539 | ||||||||||||||||||||||||
Money market deposits | 836,340 | 903,728 | 768,202 | 787,218 | 737,658 | 770,967 | 818,815 | 822,154 | 859,864 | 854,409 | 864,001 | 867,775 | ||||||||||||||||||||||||
Core transactional deposits | 3,588,536 | 3,736,568 | 3,438,856 | 3,559,143 | 3,452,962 | 3,592,507 | 3,649,158 | 3,542,743 | 3,570,080 | 3,579,855 | 3,630,914 | 3,498,048 | ||||||||||||||||||||||||
Time deposits > $100,000 | 719,947 | 741,356 | 698,301 | 802,500 | 738,486 | 839,495 | 830,166 | 802,149 | 827,907 | 810,802 | 822,079 | 746,036 | ||||||||||||||||||||||||
Time deposits < $100,000 | 1,309,340 | 1,247,992 | 1,371,370 | 1,369,879 | 1,444,120 | 1,330,535 | 1,331,445 | 1,373,034 | 1,491,995 | 1,429,534 | 1,386,797 | 1,683,866 | ||||||||||||||||||||||||
Total time deposits | 2,029,287 | 1,989,348 | 2,069,671 | 2,172,379 | 2,182,606 | 2,170,030 | 2,161,611 | 2,175,183 | 2,319,902 | 2,240,336 | 2,208,876 | 2,429,902 | ||||||||||||||||||||||||
Total deposits | 5,617,823 | 5,725,916 | 5,508,527 | 5,731,522 | 5,635,568 | 5,762,537 | 5,810,769 | 5,717,926 | 5,889,982 | 5,820,191 | 5,839,790 | 5,927,950 | ||||||||||||||||||||||||
FFP, repos, other borrowed funds | 1,477,243 | 1,261,949 | 1,694,928 | 1,438,908 | 1,638,037 | 1,476,403 | 1,331,195 | 1,307,398 | 1,131,700 | 1,046,041 | 1,093,068 | 1,339,826 | ||||||||||||||||||||||||
Subordinated debt | 232,374 | 232,358 | 232,391 | 231,961 | 232,425 | 232,458 | 232,492 | 230,458 | 227,756 | 227,973 | 226,180 | 206,449 | ||||||||||||||||||||||||
Total funding sources | 7,327,440 | 7,220,223 | 7,435,846 | 7,402,391 | 7,506,030 | 7,471,398 | 7,374,456 | 7,255,782 | 7,249,438 | 7,094,205 | 7,159,038 | 7,474,225 | ||||||||||||||||||||||||
Stockholders’ equity | 910,597 | 907,421 | 913,809 | 764,731 | 845,755 | 735,022 | 745,128 | 732,458 | 750,111 | 738,664 | 741,820 | 695,020 | ||||||||||||||||||||||||
Stockholders’ equity, common | 717,597 | 714,421 | 720,809 | 750,497 | 789,128 | 735,022 | 745,128 | 732,458 | 750,111 | 738,664 | 741,820 | 695,020 | ||||||||||||||||||||||||
Stockholders’ equity, preferred | 193,000 | 193,000 | 193,000 | 14,234 | 56,627 | — | — | — | — | — | — | — |
First Midwest Bancorp, Inc.
Selected Financial Information
(Amounts in thousands, except per share data)
2009 | 2008 | 2007 | 2006 | |||||||||||||||||||||||||||||||||||||||||||||
June 30/YTD | 2nd Quarter | 1st Quarter | Dec. 31/YTD | 4th Quarter | 3rd Quarter | 2nd Quarter | 1st Quarter | Dec. 31/YTD | 4th Quarter | 3rd Quarter | Dec. 31/YTD | |||||||||||||||||||||||||||||||||||||
Income Statement | ||||||||||||||||||||||||||||||||||||||||||||||||
Interest income | $ | 176,619 | $ | 85,139 | $ | 91,480 | $ | 409,207 | $ | 97,933 | $ | 101,486 | $ | 101,313 | $ | 108,475 | $ | 476,961 | $ | 114,611 | $ | 120,090 | $ | 476,409 | ||||||||||||||||||||||||
Interest expense | 52,009 | 24,748 | 27,261 | 162,610 | 32,920 | 38,728 | 40,987 | 49,975 | 236,832 | 56,513 | 59,393 | 224,550 | ||||||||||||||||||||||||||||||||||||
Net interest income | 124,610 | 60,391 | 64,219 | 246,597 | 65,013 | 62,758 | 60,326 | 58,500 | 240,129 | 58,098 | 60,697 | 251,859 | ||||||||||||||||||||||||||||||||||||
Loan loss provision | 84,672 | 36,262 | 48,410 | 70,254 | 42,385 | 13,029 | 5,780 | 9,060 | 7,233 | 2,042 | 470 | 10,229 | ||||||||||||||||||||||||||||||||||||
Service charges on deposit accounts | 18,731 | 9,687 | 9,044 | 44,987 | 11,206 | 11,974 | 11,385 | 10,422 | 45,015 | 11,986 | 11,959 | 40,036 | ||||||||||||||||||||||||||||||||||||
Trust and investment management fees | 6,800 | 3,471 | 3,329 | 15,130 | 3,420 | 3,818 | 3,945 | 3,947 | 15,701 | 4,061 | 3,934 | 14,269 | ||||||||||||||||||||||||||||||||||||
Other service charges, commissions, and fees | 8,027 | 4,021 | 4,006 | 18,846 | 4,554 | 4,834 | 4,456 | 5,002 | 22,183 | 5,324 | 5,601 | 20,135 | ||||||||||||||||||||||||||||||||||||
Card-based fees | 7,803 | 4,048 | 3,755 | 16,143 | 3,868 | 4,141 | 4,236 | 3,898 | 15,925 | 3,979 | 4,054 | 13,777 | ||||||||||||||||||||||||||||||||||||
Subotal, total fee-based revenue | 41,361 | 21,227 | 20,134 | 95,106 | 23,048 | 24,767 | 24,022 | 23,269 | 98,824 | 25,350 | 25,548 | 88,217 | ||||||||||||||||||||||||||||||||||||
Bank owned life insurance income | 1,700 | 1,159 | 541 | (2,369 | ) | (8,858 | ) | 1,882 | 2,145 | 2,462 | 8,033 | 2,117 | 2,023 | 7,616 | ||||||||||||||||||||||||||||||||||
Security (losses) gains, net | 14,857 | 6,635 | 8,222 | (35,611 | ) | (34,215 | ) | (1,746 | ) | (4,618 | ) | 4,968 | (50,801 | ) | (50,041 | ) | (5,165 | ) | 4,269 | |||||||||||||||||||||||||||||
Other income | 2,247 | 2,373 | (126 | ) | (3,119 | ) | (2,104 | ) | (1,209 | ) | 874 | (680 | ) | 4,197 | 109 | 989 | 3,181 | |||||||||||||||||||||||||||||||
Total noninterest income | 60,165 | 31,394 | 28,771 | 54,007 | (22,129 | ) | 23,694 | 22,423 | 30,019 | 60,253 | (22,465 | ) | 23,395 | 103,283 | ||||||||||||||||||||||||||||||||||
Salaries and employee benefits | 51,540 | 28,229 | 23,311 | 99,910 | 20,356 | 26,996 | 26,368 | 26,190 | 111,598 | 27,686 | 27,354 | 106,201 | ||||||||||||||||||||||||||||||||||||
Occupancy and equipment expense | 16,226 | 7,389 | 8,837 | 33,334 | 8,421 | 8,216 | 7,979 | 8,718 | 32,594 | 8,224 | 8,266 | 30,380 | ||||||||||||||||||||||||||||||||||||
FDIC insurance | 8,395 | 6,034 | 2,361 | 1,065 | 301 | 261 | 251 | 252 | 747 | 173 | 181 | 763 | ||||||||||||||||||||||||||||||||||||
Other real estate expense, net | 4,305 | 3,301 | 1,004 | 3,409 | 1,289 | 637 | 1,165 | 318 | 972 | 533 | 397 | 843 | ||||||||||||||||||||||||||||||||||||
Other intangibles amortization | 1,956 | 978 | 978 | 4,378 | 1,095 | 1,094 | 1,095 | 1,094 | 4,423 | 1,106 | 1,106 | 4,039 | ||||||||||||||||||||||||||||||||||||
Acquisition and restructure charges | — | — | — | — | — | — | — | — | 36 | — | — | 1,753 | ||||||||||||||||||||||||||||||||||||
Other expenses | 25,205 | 13,302 | 11,903 | 52,209 | 15,119 | 11,232 | 13,087 | 12,771 | 48,767 | 12,542 | 12,677 | 48,636 | ||||||||||||||||||||||||||||||||||||
Total noninterest expense | 107,627 | 59,233 | 48,394 | 194,305 | 46,581 | 48,436 | 49,945 | 49,343 | 199,137 | 50,264 | 49,981 | 192,615 | ||||||||||||||||||||||||||||||||||||
Pre-tax earnings | (7,524 | ) | (3,710 | ) | (3,814 | ) | 36,045 | (46,082 | ) | 24,987 | 27,024 | 30,116 | 94,012 | (16,673 | ) | 33,641 | 152,298 | |||||||||||||||||||||||||||||||
Income taxes | (15,914 | ) | (6,373 | ) | (9,541 | ) | (13,291 | ) | (19,192 | ) | 796 | 27 | 5,078 | 13,853 | (11,255 | ) | 6,404 | 35,052 | ||||||||||||||||||||||||||||||
Net income | $ | 8,390 | $ | 2,663 | $ | 5,727 | $ | 49,336 | $ | (26,890 | ) | $ | 24,191 | $ | 26,997 | $ | 25,038 | $ | 80,159 | $ | (5,418 | ) | $ | 27,237 | $ | 117,246 | ||||||||||||||||||||||
Net income applicable to common shares | $ | 3,218 | $ | 63 | $ | 3,155 | $ | 48,482 | $ | (27,568 | ) | $ | 24,149 | $ | 26,922 | $ | 24,979 | $ | 80,094 | $ | (5,414 | ) | $ | 27,228 | $ | 117,189 | ||||||||||||||||||||||
Basic earnings per common share | $ | 0.07 | $ | 0.00 | $ | 0.07 | $ | 1.00 | $ | (0.57 | ) | $ | 0.50 | $ | 0.56 | $ | 0.52 | $ | 1.62 | $ | (0.11 | ) | $ | 0.55 | $ | 2.39 | ||||||||||||||||||||||
Diluted earnings per common share | $ | 0.07 | $ | 0.00 | $ | 0.07 | $ | 1.00 | $ | (0.57 | ) | $ | 0.50 | $ | 0.55 | $ | 0.51 | $ | 1.62 | $ | (0.11 | ) | $ | 0.55 | $ | 2.37 | ||||||||||||||||||||||
Weighted average shares outstanding | 48,497 | 48,501 | 48,493 | 48,462 | 48,487 | 48,470 | 48,459 | 48,433 | 49,295 | 48,525 | 49,134 | 49,102 | ||||||||||||||||||||||||||||||||||||
Weighted average diluted shares outstanding | 48,497 | 48,501 | 48,493 | 48,515 | 48,508 | 48,499 | 48,519 | 48,537 | 49,586 | 48,711 | 49,401 | 49,463 | ||||||||||||||||||||||||||||||||||||
Tax equivalent adjustment(1) | $ | 10,519 | $ | 5,091 | $ | 5,428 | $ | 22,225 | $ | 5,496 | $ | 5,572 | $ | 5,603 | $ | 5,554 | $ | 20,906 | $ | 5,236 | $ | 4,988 | $ | 23,551 | ||||||||||||||||||||||||
Net interest income (FTE)(1) | $ | 135,129 | $ | 65,482 | $ | 69,647 | $ | 268,822 | $ | 70,509 | $ | 68,330 | $ | 65,929 | $ | 64,054 | $ | 261,035 | $ | 63,334 | $ | 65,685 | $ | 275,410 | ||||||||||||||||||||||||
Common stock and related per common share data: | ||||||||||||||||||||||||||||||||||||||||||||||||
Book value | $ | 14.22 | $ | 14.22 | $ | 14.61 | $ | 14.72 | $ | 14.72 | $ | 14.80 | $ | 14.90 | $ | 15.20 | $ | 14.94 | $ | 14.94 | $ | 14.94 | $ | 15.01 | ||||||||||||||||||||||||
Tangible book value | 8.47 | 8.47 | 8.78 | 8.87 | 8.87 | 8.92 | 9.00 | 9.28 | 8.99 | 8.99 | 9.00 | 9.16 | ||||||||||||||||||||||||||||||||||||
Dividends declared per share | 0.020 | 0.010 | 0.010 | 1.155 | 0.225 | 0.310 | 0.310 | 0.310 | 1.195 | 0.310 | 0.295 | 1.120 | ||||||||||||||||||||||||||||||||||||
Market price – period high | 20.25 | 12.00 | 20.25 | 40.09 | 28.97 | 40.09 | 29.36 | 31.98 | 39.31 | 36.50 | 36.62 | 39.52 | ||||||||||||||||||||||||||||||||||||
Market price – period low | 5.94 | 5.94 | 5.96 | 13.56 | 13.65 | 13.56 | 18.65 | 24.38 | 29.67 | 29.67 | 31.87 | 32.62 | ||||||||||||||||||||||||||||||||||||
Closing price at period end | $ | 7.31 | $ | 7.31 | $ | 8.59 | $ | 19.97 | $ | 19.97 | $ | 24.24 | $ | 18.65 | $ | 27.77 | $ | 30.60 | $ | 30.60 | $ | 34.16 | $ | 38.68 | ||||||||||||||||||||||||
Closing price to book value | 0.5 | 0.5 | 0.6 | 1.4 | 1.4 | 1.6 | 1.3 | 1.8 | 2.0 | 2.0 | 2.3 | 2.6 | ||||||||||||||||||||||||||||||||||||
Period end shares outstanding | 49,161 | 49,161 | 48,628 | 48,630 | 48,630 | 48,590 | 48,584 | 48,561 | 48,453 | 48,453 | 48,735 | 50,025 | ||||||||||||||||||||||||||||||||||||
Period end treasury shares | 12,165 | 12,165 | 12,698 | 12,696 | 12,696 | 12,736 | 12,742 | 12,765 | 12,873 | 12,873 | 12,591 | 11,301 | ||||||||||||||||||||||||||||||||||||
Number of shares repurchased | — | — | — | 5 | — | — | 1 | 4 | 1,767 | 297 | 792 | 23 | ||||||||||||||||||||||||||||||||||||
Common dividends | $ | 972 | $ | 486 | $ | 486 | $ | 56,206 | $ | 10,955 | $ | 15,088 | $ | 15,084 | $ | 15,079 | $ | 58,765 | $ | 15,045 | $ | 14,400 | $ | 56,033 | ||||||||||||||||||||||||
Preferred dividends | $ | 4,825 | $ | 2,413 | $ | 2,412 | $ | 670 | $ | 670 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 13,736 | ||||||||||||||||||||||||
Other Key Ratios/Data: | ||||||||||||||||||||||||||||||||||||||||||||||||
Return on average common equity(2) | 0.90 | % | 0.04 | % | 1.78 | % | 6.46 | % | -13.90 | % | 13.07 | % | 14.53 | % | 13.72 | % | 10.69 | % | -2.91 | % | 14.57 | % | 16.87 | % | ||||||||||||||||||||||||
Return on average assets(2) | 0.20 | % | 0.13 | % | 0.28 | % | 0.59 | % | -1.31 | % | 1.16 | % | 1.33 | % | 1.25 | % | 0.99 | % | -0.27 | % | 1.35 | % | 1.42 | % | ||||||||||||||||||||||||
Net interest margin(1) | 3.60 | % | 3.53 | % | 3.67 | % | 3.61 | % | 3.71 | % | 3.63 | % | 3.58 | % | 3.53 | % | 3.58 | % | 3.53 | % | 3.63 | % | 3.67 | % | ||||||||||||||||||||||||
Yield on average earning assets(1) | 4.99 | % | 4.86 | % | 5.12 | % | 5.80 | % | 5.43 | % | 5.69 | % | 5.81 | % | 6.29 | % | 6.82 | % | 6.67 | % | 6.91 | % | 6.67 | % | ||||||||||||||||||||||||
Cost of funds | 1.67 | % | 1.61 | % | 1.73 | % | 2.56 | % | 2.03 | % | 2.40 | % | 2.61 | % | 3.23 | % | 3.82 | % | 3.71 | % | 3.86 | % | 3.50 | % | ||||||||||||||||||||||||
Efficiency ratio(1) | 56.90 | % | 61.45 | % | 52.33 | % | 53.49 | % | 59.06 | % | 50.30 | % | 51.67 | % | 54.02 | % | 52.50 | % | 53.87 | % | 51.87 | % | 50.53 | % | ||||||||||||||||||||||||
Net noninterest expense ratio(2) | 1.51 | % | 1.69 | % | 1.34 | % | 1.27 | % | 1.64 | % | 1.11 | % | 1.13 | % | 1.21 | % | 1.09 | % | 1.14 | % | 1.06 | % | 1.13 | % | ||||||||||||||||||||||||
Effective income tax rate | 211.5 | % | 171.8 | % | 250.2 | % | -36.9 | % | 41.6 | % | 3.2 | % | 0.1 | % | 16.9 | % | 14.7 | % | 67.5 | % | 19.0 | % | 23.0 | % | ||||||||||||||||||||||||
Full time equivalent employees – end of period | 1,766 | 1,766 | 1,767 | 1,809 | 1,809 | 1,792 | 1,828 | 1,833 | 1,856 | 1,856 | 1,866 | 1,892 | ||||||||||||||||||||||||||||||||||||
Number of bank offices | 94 | 94 | 97 | 97 | 97 | 98 | 98 | 99 | 99 | 99 | 100 | 99 | ||||||||||||||||||||||||||||||||||||
Number of automated teller machines | 128 | 128 | 130 | 129 | 129 | 130 | 130 | 131 | 131 | 131 | 132 | 130 |
Note: Discussion of footnotes (1) and (2) are located at the end of this document.
First Midwest Bancorp, Inc.
Selected Financial Information
(Amounts in thousands, except per share data)
2009 | 2008 | 2007 | 2006 | |||||||||||||||||||||||||||||||||||||||||||||
June 30/YTD | 2nd Quarter | 1st Quarter | Dec. 31/YTD | 4th Quarter | 3rd Quarter | 2nd Quarter | 1st Quarter | Dec. 31/YTD | 4th Quarter | 3rd Quarter | Dec. 31/YTD | |||||||||||||||||||||||||||||||||||||
Parent Company Data: | ||||||||||||||||||||||||||||||||||||||||||||||||
Parent investment in subsidiaries -end of period | $ | 915,129 | $ | 915,129 | $ | 921,904 | $ | 921,548 | $ | 921,548 | $ | 910,987 | $ | 897,482 | $ | 893,182 | $ | 861,841 | $ | 861,841 | $ | 870,126 | $ | 887,908 | ||||||||||||||||||||||||
Risk-Based Capital Data: | ||||||||||||||||||||||||||||||||||||||||||||||||
Tier 1 capital | $ | 784,008 | $ | 784,008 | $ | 782,385 | $ | 766,758 | $ | 766,758 | $ | 610,048 | $ | 598,238 | $ | 585,181 | $ | 572,553 | $ | 572,553 | $ | 600,083 | $ | 598,755 | ||||||||||||||||||||||||
Tier 2 capital | 179,709 | 179,709 | 182,844 | 182,675 | 182,675 | 169,727 | 166,018 | 164,690 | 161,708 | 161,708 | 161,317 | 162,266 | ||||||||||||||||||||||||||||||||||||
Total capital | 963,717 | 963,717 | 965,229 | 949,433 | 949,433 | 779,775 | 764,256 | 749,871 | 734,261 | 734,261 | 761,400 | 761,021 | ||||||||||||||||||||||||||||||||||||
Risk-adjusted assets | $ | 6,335,010 | $ | 6,335,010 | $ | 6,600,684 | $ | 6,609,359 | $ | 6,609,359 | $ | 6,475,903 | $ | 6,436,784 | $ | 6,448,210 | $ | 6,340,614 | $ | 6,340,614 | $ | 6,256,930 | $ | 6,259,983 | ||||||||||||||||||||||||
Tier 1 capital / risk-based assets | 12.38 | % | 12.38 | % | 11.85 | % | 11.60 | % | 11.60 | % | 9.42 | % | 9.29 | % | 9.08 | % | 9.03 | % | 9.03 | % | 9.59 | % | 9.56 | % | ||||||||||||||||||||||||
Tier 1 common capital / risk-based assets | 7.36 | % | 7.36 | % | 7.04 | % | 6.79 | % | 6.79 | % | 7.49 | % | 7.35 | % | 7.14 | % | 7.06 | % | 7.06 | % | 7.59 | % | 7.57 | % | ||||||||||||||||||||||||
Total capital / risk-based assets | 15.21 | % | 15.21 | % | 14.62 | % | 14.36 | % | 14.36 | % | 12.04 | % | 11.87 | % | 11.63 | % | 11.58 | % | 11.58 | % | 12.17 | % | 12.16 | % | ||||||||||||||||||||||||
Leverage ratio | 9.87 | % | 9.87 | % | 9.60 | % | 9.41 | % | 9.41 | % | 7.59 | % | 7.56 | % | 7.51 | % | 7.46 | % | 7.46 | % | 7.75 | % | 7.29 | % | ||||||||||||||||||||||||
Tangible common equity ratio | 5.56 | % | 5.56 | % | 5.36 | % | 5.23 | % | 5.23 | % | 5.44 | % | 5.45 | % | 5.62 | % | 5.58 | % | 5.58 | % | 5.77 | % | 5.62 | % | ||||||||||||||||||||||||
Tangible common equity ratio, excluding OCI | 6.23 | % | 6.23 | % | 5.83 | % | 5.45 | % | 5.45 | % | 6.09 | % | 5.90 | % | 5.73 | % | 5.73 | % | 5.73 | % | 6.25 | % | 5.81 | % | ||||||||||||||||||||||||
Tangible common equity / risk-based assets | 6.57 | % | 6.57 | % | 6.47 | % | 6.53 | % | 6.53 | % | 6.69 | % | 6.79 | % | 6.99 | % | 6.87 | % | 6.87 | % | 7.01 | % | 7.32 | % | ||||||||||||||||||||||||
Asset Quality Performance Data: | ||||||||||||||||||||||||||||||||||||||||||||||||
Non-accrual loans: | ||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | $ | 41,542 | $ | 41,542 | $ | 33,245 | $ | 15,586 | $ | 15,586 | $ | 13,961 | $ | 5,222 | $ | 6,770 | $ | 9,128 | $ | 9,128 | $ | 7,440 | $ | 8,803 | ||||||||||||||||||||||||
Agricultural | 452 | 452 | 12 | 12 | 12 | 12 | 12 | 12 | 362 | 362 | 13 | 18 | ||||||||||||||||||||||||||||||||||||
Real estate - office, retail, and industrial | 13,058 | 13,058 | 12,769 | 2,533 | 2,533 | 1,195 | 1,125 | 730 | 552 | 552 | 552 | — | ||||||||||||||||||||||||||||||||||||
Real estate - residential construction | 126,618 | 126,618 | 107,766 | 97,060 | 97,060 | 28,335 | 11,664 | 4,081 | 107 | 107 | 540 | 720 | ||||||||||||||||||||||||||||||||||||
Real estate - multifamily | 10,632 | 10,632 | 6,989 | 1,387 | 1,387 | 2,827 | 3,016 | 1,361 | 3,480 | 3,480 | 287 | 1,918 | ||||||||||||||||||||||||||||||||||||
Real estate - other commercial | 19,637 | 19,637 | 16,013 | 6,914 | 6,914 | 1,833 | 873 | 243 | 1,439 | 1,439 | 1,371 | 1,245 | ||||||||||||||||||||||||||||||||||||
Real estate - 1-4 family | 1,034 | 1,034 | 1,756 | 857 | 857 | 795 | 671 | 909 | 583 | 583 | 480 | 1,413 | ||||||||||||||||||||||||||||||||||||
Consumer | 6,042 | 6,042 | 4,991 | 3,419 | 3,419 | 4,359 | 2,653 | 2,967 | 2,796 | 2,796 | 2,088 | 2,092 | ||||||||||||||||||||||||||||||||||||
Total non-accrual loans | 219,015 | 219,015 | 183,541 | 127,768 | 127,768 | 53,317 | 25,236 | 17,073 | 18,447 | 18,447 | 12,771 | 16,209 | ||||||||||||||||||||||||||||||||||||
Loans past due 90 days and still accruing | 26,071 | 26,071 | 73,929 | 36,999 | 36,999 | 37,316 | 37,510 | 33,479 | 21,149 | 21,149 | 21,421 | 12,810 | ||||||||||||||||||||||||||||||||||||
Total non-accrual plus 90 days past dues | 245,086 | 245,086 | 257,470 | 164,767 | 164,767 | 90,633 | 62,746 | 50,552 | 39,596 | 39,596 | 34,192 | 29,019 | ||||||||||||||||||||||||||||||||||||
Restructured, accruing loans | 18,877 | 18,877 | 1,063 | 7,344 | 7,344 | 3,731 | 2,061 | 1,942 | 7,391 | 7,391 | — | — | ||||||||||||||||||||||||||||||||||||
Total non-performing loans | 263,963 | 263,963 | 258,533 | 172,111 | 172,111 | 94,364 | 64,807 | 52,494 | 46,987 | 46,987 | 34,192 | 29,019 | ||||||||||||||||||||||||||||||||||||
Other real estate owned | 68,878 | 68,878 | 38,984 | 24,368 | 24,368 | 23,697 | 7,042 | 8,607 | 6,053 | 6,053 | 4,032 | 2,727 | ||||||||||||||||||||||||||||||||||||
Loans past due 30-89 days and still accruing | 38,128 | 38,128 | 54,311 | 116,206 | 116,206 | 104,769 | 185,186 | 116,431 | 100,820 | 100,820 | 109,782 | 88,568 | ||||||||||||||||||||||||||||||||||||
Reserve for loan losses (RLL): | ||||||||||||||||||||||||||||||||||||||||||||||||
RLL | $ | 127,528 | $ | 127,528 | $ | 116,001 | $ | 93,869 | $ | 93,869 | $ | 69,811 | $ | 66,104 | $ | 64,780 | $ | 61,800 | $ | 61,800 | $ | 61,412 | $ | 62,370 | ||||||||||||||||||||||||
Loan loss provision | 84,672 | 36,262 | 48,410 | 70,254 | 42,385 | 13,029 | 5,780 | 9,060 | 7,233 | 2,042 | 470 | 10,229 | ||||||||||||||||||||||||||||||||||||
Net charge-offs by category: | ||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | 19,099 | 7,006 | 12,093 | 13,026 | 5,601 | 1,899 | 2,338 | 3,188 | 4,925 | 534 | 1,131 | 5,792 | ||||||||||||||||||||||||||||||||||||
Agricultural | — | — | — | 38 | — | (4 | ) | 42 | — | 10 | 10 | (1 | ) | (9 | ) | |||||||||||||||||||||||||||||||||
Real estate - office, retail, and industrial | 1,095 | 217 | 878 | 732 | 699 | 2 | 31 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
Real estate - residential construction | 19,146 | 8,427 | 10,719 | 15,780 | 9,227 | 5,856 | 138 | 559 | 231 | 17 | — | — | ||||||||||||||||||||||||||||||||||||
Real estate - multifamily | 1,129 | 1,086 | 43 | 1,796 | 164 | (40 | ) | 830 | 842 | 490 | 372 | — | 1,050 | |||||||||||||||||||||||||||||||||||
Real estate - other commercial | 3,266 | 3,197 | 69 | 1,248 | 397 | 62 | 116 | 673 | (34 | ) | (21 | ) | 5 | 344 | ||||||||||||||||||||||||||||||||||
Real estate - 1-4 family | 546 | 326 | 220 | 576 | 57 | 239 | 104 | 176 | 145 | — | 9 | 138 | ||||||||||||||||||||||||||||||||||||
Consumer | 6,732 | 4,476 | 2,256 | 4,989 | 2,182 | 1,308 | 857 | 642 | 2,036 | 742 | 305 | 2,872 | ||||||||||||||||||||||||||||||||||||
Total net charge-offs | 51,013 | 24,735 | 26,278 | 38,185 | 18,327 | 9,322 | 4,456 | 6,080 | 7,803 | 1,654 | 1,449 | 10,187 | ||||||||||||||||||||||||||||||||||||
Asset Quality ratios: | ||||||||||||||||||||||||||||||||||||||||||||||||
Non-accrual loans / loans | 4.11 | % | 4.11 | % | 3.41 | % | 2.38 | % | 2.38 | % | 1.02 | %�� | 0.49 | % | 0.34 | % | 0.37 | % | 0.37 | % | 0.24 | % | 0.32 | % | ||||||||||||||||||||||||
Non-accrual + 90-day past due loans / loans | 4.60 | % | 4.60 | % | 4.78 | % | 3.07 | % | 3.07 | % | 1.74 | % | 1.21 | % | 1.00 | % | 0.80 | % | 0.80 | % | 0.65 | % | 0.57 | % | ||||||||||||||||||||||||
Non-performing loans / loans | 4.96 | % | 4.96 | % | 4.80 | % | 3.21 | % | 3.21 | % | 1.81 | % | 1.25 | % | 1.04 | % | 0.95 | % | 0.95 | % | 0.65 | % | 0.57 | % | ||||||||||||||||||||||||
Non-accrual loans / total assets | 2.82 | % | 2.82 | % | 2.22 | % | 1.50 | % | 1.50 | % | 0.65 | % | 0.30 | % | 0.21 | % | 0.23 | % | 0.23 | % | 0.16 | % | 0.19 | % | ||||||||||||||||||||||||
Loan loss ratios: | ||||||||||||||||||||||||||||||||||||||||||||||||
RLL / loans | 2.40 | % | 2.40 | % | 2.15 | % | 1.75 | % | 1.75 | % | 1.34 | % | 1.28 | % | 1.28 | % | 1.25 | % | 1.25 | % | 1.17 | % | 1.23 | % | ||||||||||||||||||||||||
RLL / non-accrual loans | 58.23 | % | 58.23 | % | 63.20 | % | 73.47 | % | 73.47 | % | 130.94 | % | 261.94 | % | 379.43 | % | 335.01 | % | 335.01 | % | 480.87 | % | 384.79 | % | ||||||||||||||||||||||||
RLL / non-accrual + 90-day past due loans | 52.03 | % | 52.03 | % | 45.05 | % | 56.97 | % | 56.97 | % | 77.03 | % | 105.35 | % | 128.15 | % | 156.08 | % | 156.08 | % | 179.61 | % | 214.93 | % | ||||||||||||||||||||||||
RLL / non-performing loans | 48.31 | % | 48.31 | % | 44.87 | % | 54.54 | % | 54.54 | % | 73.98 | % | 102.00 | % | 123.40 | % | 131.53 | % | 131.53 | % | 179.61 | % | 214.93 | % | ||||||||||||||||||||||||
Net charge-offs to average net loans | 1.91 | % | 1.85 | % | 1.98 | % | 0.74 | % | 1.38 | % | 0.71 | % | 0.35 | % | 0.49 | % | 0.16 | % | 0.13 | % | 0.12 | % | 0.21 | % |
Footnotes:
(1) | Tax equivalent basis reflects federal and state tax benefits. |
(2) | Annualized based on the number of days outstanding for each period presented. |