First Midwest Bancorp (ONBPP) 8-K This presentation may contain, and during this presentation our management may

January 2010

First Midwest Bancorp

Equity Offering

Exhibit 99.1

2

2

2

2

Forward Looking Statements

Forward Looking Statements

This presentation may contain, and during this presentation our management may

make

statements

that

may

constitute

“forward-looking

statements”

within

the

meaning of the safe harbor provisions of the Private Securities Litigation Reform

Act of 1995. Forward-looking statements are not historical facts but instead

represent only our beliefs regarding future events, many of which, by their nature,

are inherently uncertain and outside our control.  Forward-looking statements

include, among other things, statements regarding our financial performance,

business prospects, future growth and operating strategies, objectives and results. 

Actual results, performance or developments could differ materially from those

expressed or implied by these forward-looking statements. Important factors that

could cause actual results to differ from those in the forward-looking statements

include, among others, those discussed in our Annual Report on Form 10-K, the

preliminary prospectus supplement and other reports filed with the Securities and

Exchange

Commission,

copies

of

which

will

be

made

available

upon

request.

With

the

exception

of

fiscal

year

end

information

previously

included

in

the

audited

financial

statements

in

our

Annual

Report

on

Form

10-K,

the

information

contained

herein

is

unaudited.

Except

as

required

by

law,

we

undertake

no

duty

to

update

the

contents of this presentation after the date of this presentation.

3

3

Equity Offering Overview

Equity Offering Overview

Issuer:

First Midwest Bancorp, Inc. (Nasdaq: FMBI)

Offering Size:

$150 million of common stock

Greenshoe

Option:

15%

Use of Proceeds:

General corporate purposes

Expected Pricing:

January 14

th

Lock-Up Agreement:

90 days

Bookrunners:

Goldman, Sachs & Co. (active)

Keefe, Bruyette

& Woods (passive)

Co-Manager:

Sandler O’Neill + Partners

4

4

4

4

Review of 4Q09 Results

Review of 4Q09 Results

Net loss to common shareholders of $39.5mm or $(0.73) per share

Solid core operations

Pre-tax, pre-provision earnings ¹

of $32.7mm, up 8% vs. 3Q09

Net interest margin of 4.04%, up 38bps vs. 3Q09

Efficiency ratio ²

of 58.5%, down 65bps vs. 3Q09

Higher credit costs; problem assets ³

flat to down

Net charge-offs of $82.5mm, $38.3mm related to residential construction

NALs

+ 90 days past due at $248mm, down 6% from 3Q09

OREO losses realized of $14mm, $7mm related to land

30-89 days past due at $37.9mm, down 15% from 3Q09

Active balance sheet management

Acquired First DuPage

in FDIC transaction; $13.1mm pre-tax gain

Retired $20mm of 5.95% subordinated debt for cash; $1.3mm pre-tax gain

TCE / TA ratio of 6.29%, up 106bps from 4Q08

Positioning

balance

sheet

to

enhance

remediation

and

liquidation

alternatives

¹

This is a non-GAAP financial measure.  For reconciliation to GAAP measure, please refer to the appendix.

²

Equal to non-interest expense divided by full taxable equivalent (FTE) net interest income and non-interest income.  Excludes nonrecurring items.

³

Problem

assets

include

non-accrual

loans,

loans

90

days

or

more

past

due,

other

real

estate

owned

and

troubled

debt

restructurings.

5

5

Strategic Rationale for Offering

Strategic Rationale for Offering

Strengthens balance sheet, adding to already solid

capital position

Enhances potential for opportunistic growth

Organic

FDIC transactions

Industry capital standards likely to head higher

Enables continued flexibility in capital management

Positions for potential future TARP repayment,

subject to regulatory approval

6

6

Overview of First Midwest

Overview of First Midwest

Headquartered in suburban Chicago

$7.7bn assets

$5.2bn loans

$5.9bn deposits

66% transactional

$3.5bn trust assets

Acquired First DuPage in FDIC-

assisted transaction in October 2009

Loan Mix

Deposit Mix

Highly efficient platform -

$61mm

of deposits per branch

Leading market share in non-

downtown Chicago MSA

#9 with 3.3% market share ³

$5.2bn

$5.9bn

INDIANA

ILLINOIS

IOWA

DuPage

Scott

Knox

Champaign

Vermilion

Lake

Lake

McHenry

Cook

Will

Rock Island

Grundy

Kendall

La Salle

Note:  Information as of 31-Dec-09.

¹

Defined as time deposits less than $100,000.

²

Defined as time deposits greater than $100,000.

³

Source: SNL Financial.  Non-downtown ranking and market share based on total deposits in Chicago MSA less deposits in the city of Chicago.  Data as of 30-Jun-09.

Consumer

13%

Commercial

& Industrial

32%

Commercial

Real Estate

56%

Savings &

NOW

28%

Demand

19%

Money

Market

19%

Retail

Time¹

22%

Jumbo Time²

12%

7

7

Investment Highlights

Investment Highlights

Solid core operating performance

Stable core deposit funding profile

Addressing realities of credit cycle

Prudently building capital / proactive capital

management

Experienced management team to take advantage of

potential opportunities

8

8

Solid Core Operating Performance

Solid Core Operating Performance

Source: FMBI based on internal data; peer data from SNL Financial

¹

Equal to non-interest expense divided by fully taxable equivalent (FTE) net interest income and non-interest income.  Excludes nonrecurring items.

²

This is a non-GAAP financial measure.  For reconciliation to GAAP measure, please refer to the appendix.

³

Chicago

Peers

based

on

median

of

AMFI,

MBFI,

MBHI,

OSBC,

PVTB,

TAYC

and

WTFC.

4

Metro

Peers

based

on

median

of

AMFI,

BOKF,

CBSM,

CFR,

FCF,

FULT,

MBFI,

ONB,

SUSQ,

VLY,

WTFC

and

WTNY.

FMBI

Chicago Peers

3

Metro Peers

4

Pre-Tax, Pre-Provision Earnings / RWA ²

Efficiency Ratio ¹

Net Interest Margin

4.04%

3.66%

2.94%

3.59%

2.40%

3.00%

3.60%

4.20%

2006

2007

2008

1Q09

2Q09

3Q09

4Q09

58.5%

59.1%

64.7%

61.7%

50.0%

60.0%

70.0%

80.0%

2006

2007

2008

1Q09

2Q09

3Q09

4Q09

1.92%

2.07%

1.33%

1.66%

0.50%

1.00%

1.50%

2.00%

2.50%

3.00%

2006

2007

2008

1Q09

2Q09

3Q09

4Q09

9

9

Stable Core Deposit Funding Profile

Stable Core Deposit Funding Profile

% Transactional³

62%

62%

65%

67%

66%

Cost of Deposits

1.62%

1.37%

1.20%

1.06%

0.87%

Loans / Deposits

96.0%

97.8%

92.6%

92.3%

88.4%

Highly transaction oriented

deposit base

Stable deposit base

De minimis amount of brokered

CDs ($11mm)

Significant excess liquidity

Deposit Composition ($bn)

¹

Defined as time deposits less than $100,000.

²

Defined as time deposits greater than $100,000.

³

Defined as sum of Demand, Savings & NOW, and Money Market.

$5.7

$5.5

$5.7

$5.8

18%

19%

18%

18%

19%

30%

30%

31%

32%

28%

14%

14%

16%

17%

19%

24%

25%

22%

21%

22%

14%

13%

13%

12%

12%

$5.9

4Q08

1Q09

2Q09

3Q09

4Q09

Demand

Savings & NOW

Money Market

Retail Time Deposits ¹

Jumbo Time Deposits ²

10

10

Addressing Realities of Credit Cycle –

Addressing Realities of Credit Cycle –

Loan Portfolio Overview

Loan Portfolio Overview

Branch originated

Home equity dominated

No subprime or credit card

Exited indirect auto in 2004

Re-entered 1-4 Family in 2Q09

~95% in footprint

Diversified + granular

Significant majority have personal

guarantees

Stress largely concentrated in

residential construction portfolio

Consumer Loans = $664mm

Commercial

87%

Consumer

13%

Home Equity

9%

Other

Consumer

1%

C&I

32%

Office,

Retail &

Industrial

23%

Residential

Construction

& Land 6%

Commercial

Construction &

Land 4%

Multi-family

6%

Other CRE

15%

Commercial Loans = $4.5bn

Real Estate –

1-

4

Family

3%

Total Loans = $5.2bn

People we know, businesses we know, markets we understand

Note: Loan data as of 31-Dec-09.  Excludes $223mm of covered assets acquired in First DuPage FDIC-assisted transaction in 4Q09.

11

11

Historical Credit Performance

Historical Credit Performance

Non-Accrual Loans + 90s

$9.2

$9.1

$10.7

$15.6

$8.4

$16.3

$5.2

$26.1

$38.3

$44.1

$0

$50

$100

4Q08

1Q09

2Q09

3Q09

4Q09

Net Charge-Offs

$105.5

$59.2

$128.4

$129.1

$148.3

$115.0

$138.7

$124.1

$112.9

$135.4

$0

$100

$200

$300

4Q08

1Q09

2Q09

3Q09

4Q09

Residential Construction & Land

Portfolio Excl. Residential Construction & Land

Note:

Excludes

$223mm

of

covered

assets

acquired

in

First

DuPage

FDIC-assisted

transaction

in

4Q09.

NALs

+ 90s / Loans

Residential Construction & Land

20.7%

27.5%

32.3%

34.6%

36.0%

Portfolio Excl. Resi. Const. & Land

1.2

2.6

2.4

2.5

2.8

Total

3.1

4.8

4.9

5.0

4.8

NCOs / Avg. Loans -

Annualized

Residential Construction & Land

7.18%

8.91%

7.31%

4.78%

42.55%

Portfolio Excl. Resi. Const. & Land

0.75

1.29

1.33

2.10

3.54

Total

1.38

1.98

1.85

2.32

6.17

$164.8

$257.5

$263.2

$262.8

$248.3

$82.5

$31.3

$24.7

$26.3

$18.3

12

12

Addressing Reality of Credit Cycle

Addressing Reality of Credit Cycle

2009 problems concentrated in residential construction

Reflects illiquidity of suburban market

Performance influenced by sales and property values

Investment in remediation

Expanded resources; early stage triage to liquidation

Senior management oversight

NPA inflows stabilized and starting to slow; shifting to liquidation

30 –

89 day delinquencies down 15% from 3Q09

Expect shift from NPL to OREO

Adjusting carrying values to market and disposition strategy

Mix of disposition strategies and types

13

13

Commercial & Industrial

Commercial & Industrial

Size of Portfolio ($mm)

$1,648

Average Loan Size (000s)

$196

Shared National Credits ($mm)

$16, < 1%

Loans > $5mm

29

$24

$51

$51

$51

$33

$0

$60

$120

$180

4Q08

1Q09

2Q09

3Q09

4Q09

Non-Accrual Loans + 90s ($mm)

$6

$12

$7

$12

$24

$0

$10

$20

$30

$40

4Q08

1Q09

2Q09

3Q09

4Q09

Net Charge-Offs ($mm)

4Q09 Loans: $1.6bn

32%

Wholesalers

13%

NALs

+ 90s /

Loans

1.4%

3.0%

3.1%

3.0%

2.0%

NCOs / Avg. Loans¹

1.30%

3.02%

1.79%

3.14%

5.59%

Note: Portfolio data as of 31-Dec-09.  Excludes $223mm of covered assets acquired in First DuPage

FDIC-assisted transaction in 4Q09.

¹

Annualized

Manufacturers

11%

Contractors

10%

Agricultural

13%

Other

C&I 53%

14

14

Office, Retail & Industrial

Office, Retail & Industrial

Office

Retail

Industrial

Size of Portfolio ($mm)

$394

$332

$487

Avg. Loan Size (000s)

$826

$953

$860

Loans > $5mm

16

11

13

Owner Occupied

30%

20%

40%

% of Loans In-Market

93%

96%

96%

$1

$4

$1

$18

$6

$1

$3

$11

$<1

$2

$12

$3

$6

$13

$2

$0

$60

$120

$180

4Q08

1Q09

2Q09

3Q09

4Q09

Non-Accrual Loans + 90s ($mm)

Net Charge-Offs ($mm)

Office

Retail

Industrial

$0

$0.6

$0.1

$0

$0.1

$0.8

$0

$0.1

$0.1

$1.3

$2.2

$0

$0.3

$2.8

$0.2

$0

$10

$20

$30

$40

4Q08

1Q09

2Q09

3Q09

4Q09

4Q09 Loans: $1.2bn

Office

33%

Retail

27%

Industrial

40%

23%

NALs + 90s / Loans

NCOs / Average Loans¹

Office

0.2%

5.3%

0.8%

0.6%

1.5%

0.00%

0.00%

0.00%

1.39%

0.33%

Retail

1.5

2.1

3.6

3.8

4.0

0.90

0.14

0.13

2.87

3.39

Industrial

0.3

0.2

0.1

0.6

0.5

0.10

0.73

0.11

0.00

0.15

Note: Portfolio data as of 31-Dec-09.  Excludes $223mm of covered assets acquired in First DuPage FDIC-assisted transaction in 4Q09.

¹

Annualized

15

15

Residential Construction & Land

Residential Construction & Land

$106

$128

$148

$139

$113

$0

$60

$120

$180

4Q08

1Q09

2Q09

3Q09

4Q09

Non-Accrual Loans + 90s ($mm)

Net Charge-Offs ($mm)

$9

$11

$8

$5

$38

$0

$10

$20

$30

$40

4Q08

1Q09

2Q09

3Q09

4Q09

Mixed & Other

14%

6%

Developed

Land

45%

Substantially

Completed

31%

Under

Construction 6%

Raw

Land

17%

4Q09 Loans = $314mm

Performing

Loans

Non-

Performing

Loans

Developed

Land

37%

Substantially

Completed

17%

Under

Construction 2%

Raw

Land

28%

Performing

Non-

Performing

Size of Portfolio ($mm)

$201

$113

Avg. Loan Size ($000s)

$591

$1,411

Loans > $5mm

3

4

% of Loans In-Market

96%

100%

% with Current Appraisal

70%

97%

NALs + 90s /

Loans

20.7%

27.5%

32.3%

34.6%

36.0%

NCOs / Avg. Loans¹

7.18%

8.91%

7.31%

4.78%

42.55%

Mixed &

Other <1%

Note: Portfolio data as of 31-Dec-09.  Excludes $223mm of covered assets acquired in First DuPage FDIC-assisted transaction in 4Q09.

¹

Annualized

16

16

Commercial Construction & Land

Commercial Construction & Land

$4.2

$11.9

$4.7

$2.9

$20.9

$0

$60

$120

$180

4Q08

1Q09

2Q09

3Q09

4Q09

Non-Accrual Loans + 90s ($mm)

Net Charge-Offs ($mm)

$0.0

$0.0

$0.7

($0.2)

$2.7

($5)

$5

$15

$25

$35

$45

4Q08

1Q09

2Q09

3Q09

4Q09

4%

NALs + 90s /

Loans

1.2%

3.5%

1.4%

1.0%

9.0%

NCOs / Avg. Loans¹

0.00%

0.00%

0.89%

(0.29)%

4.04%

Performing

Non-

Performing

Size of Portfolio ($mm)

$211

$21

Avg. Loan Size ($000s)

$1,526

$2,981

Loans > $5mm

12

1

% of Loans In-Market

89%

100%

% with Current Appraisal

57%

100%

Developed

Land

37%

Substantially

Completed

43%

Under

Construction 9%

Raw

Land

11%

4Q09 Loans = $232mm

Performing

Loans

Non-

Performing

Loans

Developed

Land

6%

Raw

Land

94%

Mixed &

Other <1%

Note: Portfolio data as of 31-Dec-09.  Excludes $223mm of covered assets acquired in First DuPage FDIC-assisted transaction in 4Q09.

¹

Annualized

17

17

Multi-family

Multi-family

$3.3

$10.3

$11.3

$16.1

$12.5

$0

$60

$120

$180

4Q08

1Q09

2Q09

3Q09

4Q09

Non-Accrual Loans + 90s ($mm)

Net Charge-Offs ($mm)

$0.2

$0.0

$1.1

$0.0

$2.3

$0

$10

$20

$30

$40

4Q08

1Q09

2Q09

3Q09

4Q09

6%

4Q09 Loans = $334mm

Chicago Loop

1%

Other 99%

NALs + 90s /

Loans

1.1%

3.3%

3.7%

4.7%

3.8%

NCOs / Avg.

Loans¹

0.25%

0.06%

1.41%

0.04%

2.73%

Size of Portfolio ($mm)

$334

Average Loan Size (000s)

$856

Loans > $5mm

15

Note: Portfolio data as of 31-Dec-09.  Excludes $223mm of covered assets acquired in First DuPage FDIC-assisted transaction in 4Q09.

¹

Annualized

18

18

Other Commercial Real Estate

Other Commercial Real Estate

$9.3

$13.0

$19.2

$23.2

$32.7

$0

$60

$120

$180

4Q08

1Q09

2Q09

3Q09

4Q09

Non-Accrual Loans + 90s ($mm)

Net Charge-Offs ($mm)

$0.4

$0.1

$2.5

$6.6

$9.1

$0

$10

$20

$30

$40

4Q08

1Q09

2Q09

3Q09

4Q09

4Q09 Loans = $799mm

Other

32%

Investor-

Owned Rental

Property

15%

Service

Stations and

Truck Stops

18%

Warehouses

and Storage

14%

Hotels

10%

Restaurants

7%

Automobile Dealers

5%

15%

Size of Portfolio ($mm)

$799

Average Loan Size (000s)

$797

Loans > $5mm

21

NALs + 90s /

Loans

1.3%

1.8%

2.5%

3.1%

4.1%

NCOs / Avg. Loans¹

0.22%

0.04%

1.33%

3.48%

4.67%

Note: Portfolio data as of 31-Dec-09.  Excludes $223mm of covered assets acquired in First DuPage FDIC-assisted transaction in 4Q09.

¹

Annualized

19

19

Consumer

Consumer

$12.5

$17.1

$14.7

$14.3

$14.7

$0

$60

$120

$180

4Q08

1Q09

2Q09

3Q09

4Q09

Non-Accrual Loans + 90s ($mm)

Net Charge-Offs ($mm)

$2.2

$2.4

$4.6

$3.4

$3.2

$0

$10

$20

$30

$40

4Q08

1Q09

2Q09

3Q09

4Q09

4Q09 Loans = $664mm

Predominately home equity dominated

100% branch originated

Re-entered 1-4 family in 2Q09

No subprime or credit card exposure

Exited indirect installment auto business in 2004

Home Equity

71%

Real Estate /

1-4 Family

21%

Other

Consumer

8%

13%

NALs + 90s /

Loans

1.7%

2.4%

2.1%

2.1%

2.2%

NCOs / Avg. Loans¹

1.19%

1.34%

2.58%

1.98%

1.90%

Home

Equity

1-4

Family

Size of Portfolio ($mm)

$471

$140

Avg. FICO Score

745

713

Avg. Current LTV

58.0%

53.6%

Note: Portfolio data as of 31-Dec-09.  Excludes $223mm of covered assets acquired in First DuPage FDIC-assisted transaction in 4Q09.

¹

Annualized

20

20

Securities Portfolio

Securities Portfolio

Note: Data as of 31-Dec-09.  Based on book value.

4Q09 Total Securities = $1.4bn

AFS Municipal

Securities

47%

Collateralized

Mortgage

Obligations

22%

Agency Pass

Through

17%

Held-to-Maturity

Municipal

Securities

6%

Collateralized Debt

Obligations

4%

Other Mortgage-

Backed Securities

3%

U.S. Agency

Securities <1%

Delevered portfolio

Down $931mm since 4Q08

AFS municipal down $257mm

since 4Q08

Highly Liquid

39% agency pass through and

CMOs

AFS municipal securities represent

47% of total portfolio

~99% has third-party bond

insurance or other credit

enhancements

TruPS CDOs carried at 14% of par

value

$31mm of impairments since

2008

21

21

Source: FMBI based on internal data; peer data from SNL Financial

Note: Basis point impact shown on 4Q09 RWA.  TCE and Tier 1 Common exclude equity credit allocated to TARP warrants.  Impact of equity offering net of 5% underwriting discount.

¹

Tier 1 Common generated based on FMBI’s

shares outstanding at the end of each quarter times $0.22 per share.

²

Pro forma for $150mm common equity raise.

³

Chicago Peers based on median of AMFI, MBFI, MBHI, OSBC, PVTB, TAYC and WTFC.

4

Metro Peers based on median of AMFI, BOKF, CBSM, CFR, FCF, FULT, MBFI, ONB, SUSQ, VLY, WTFC and WTNY.

5

Median

based

on

the

following

banks

with

assets

between

$5bn

-

$15bn

that

have

redeemed

at

least

50%

of

TARP

capital:

CVBF,

FMER,

FNB,

IBKC,

ONB,

SBNY,

TCBI,

TRMK,

VLY,

WABC and WSBC.

6

SCAP banks based on median that have repaid TARP based on BAC, BBT, C, JPM, USB and WFC.

Proactive Capital Management

Proactive Capital Management

Annual Amount of Tier 1 Common

Action

Description

$mm

bps

Dividend Reduction –

4Q08 –

1Q09 ¹

Cut quarterly dividend from $0.23 per share to $0.01 per share

$45

71bps

Balance Sheet Management –

4Q08 –

4Q09

Reduced risk-weighted assets by ~$430mm

—

41

Exchange Offers –

3Q09

Exchanged ~$69mm of debt securities for common stock

65

104

Subordinated Debt Tender –

4Q09

Repurchased $20mm of subordinated debt

1

1

Common Offering –

1Q10

$150mm common stock offering

143

228

Total

$208

445bps

First Midwest

31-Dec-09 with $150mm

Common Stock Offering

31-Dec-08

31-Dec-09

As Reported

Incl. TARP²

Excl. TARP²

TCE / TA

5.23%

6.29%

8.20%

8.20%

Tier 1 Common

6.79

7.76

10.03

10.03

Tier 1

11.60

12.19

14.47

11.38

Total Capital

14.36

14.26

6.53

13.45

Peers –

30-Sep-09

Chicago

Peers3

Metro

Peers

4

4.48%

6.89%

4.09

8.72

9.86

11.27

12.75

13.91

Redeemed TARP –

30-Sep-09

Banks with

$5bn to $15bn

in Assets

5

SCAP Banks

6

8.65%

5.55%

11.43

8.27

12.09

10.63

13.80

14.13

22

22

Illustrative Stress Test -

Illustrative Stress Test -

SCAP

SCAP

Source:  Federal Reserve Board of Governors

MEMO:

SCAP Banks - 2-Yr. Losses

Fifth Third

10.5

%

Regions

9.1

BB&T

8.6

KeyCorp

8.5

U.S. Bancorp

8.4

SunTrust

8.3

Key Assumptions

SCAP loss estimates

based on published

ranges for “More

Adverse”

scenario

Credit given for

charge-offs and OREO

impairments taken in

2009

Reserves in excess

1.5% of loans are

released

Pre-tax, pre-provision

earnings for 2010 are

based on 2009 results

DTA limited to 10% of

Tier 1 Capital

SCAP More Adverse

4Q 2008

Loss Range

Implied Losses

Balance

Low

High

Low

High

Commercial Real Estate

Construction

$

812

15.0

%

18.0

%

$

122

$

146

Multi-Family

306

10.0

11.0

31

34

Other

1,955

7.0

9.0

137

176

CRE Subtotal

$

3,073

-

-

$

289

$

356

Non-CRE

1-4 Family - First Lien

$

383

7.0

%

8.5

%

$

27

$

33

Home Equity & Junior Lien

544

12.0

16.0

65

87

Commercial & Industrial

1,200

5.0

8.0

60

96

Credit Cards

2

18.0

20.0

0

0

Other Consumer

69

8.0

12.0

6

8

Other Loans

87

4.0

10.0

3

9

Total Loans & Leases

$

5,358

-

-

$

451

$

589

Implied 2-Year Loss Rate

8.4

%

11.0

%

Charges Taken in 2009

3.4

3.4

Remaining Losses

5.0

7.6

2-Year Cumulative Loss Rate

Illustrative Capital Required / (Excess) to Achieve Capital Targets

8.0

%

9.0

%

10.0

%

11.0

%

4.0% Tier 1 Common / 6.0% Tier 1

$(188)

$(132)

$(76)

$(20)

4.0% Tier 1 Common / 6.0% Tier 1 - w/ TARP Repayment

(129)

(73)

(17)

36

6.0% Tier 1 Common / 8.0% Tier 1

$(63)

$(7)

$

45

$

96

6.0% Tier 1 Common / 8.0% Tier 1 - w/ TARP Repayment

(4)

48

99

150

23

23

Strategies and Priorities for 2010

Strategies and Priorities for 2010

Continued solid core earnings

Endeavor to enhance pre-tax, pre-provision earnings

Strive to continue expansion of net interest margin

Managed through credit cycle

Credit costs remain high as remediation focus continues and liquidation

strategies unfold

NPA trends slow, with declines dependent upon liquidation success

and incremental stress in CRE

Position First Midwest for long-term success

Expand customer relationships

Deepen share in existing markets, develop adjacent markets

Pursuit of growth opportunities: organic and acquired

24

24

Organization Strength and Capacity

Organization Strength and Capacity

Strong market reputation; 40+ years

Experienced and tenured management team

Key management: 25+ years with FMBI and in markets

Organized for sales

Relationship focused

Robust sales force

Operational capacity

IT network infrastructure updated in 2008

Three

operations

centers

–

room

to

expand

M&A tested

Active and successful acquiror

FDIC and related experience

25

25

Potential Opportunities

Potential Opportunities

First DuPage transaction viewed by Company as a success

Deposit retention exceeding management expectations

Conversion, integration and servicing going as planned

Expect numerous future opportunities in Chicago market

45 banks with Texas Ratios ¹

greater than 100% in Chicago area

Asset Size

Number of Institutions

Total Deposits

Total Assets

$1bn -

$5bn

10

$19.8bn

$24.4bn

$500mm -

$1bn

6

$3.3bn

$3.8bn

< $500mm

29

$5.4bn

$6.2bn

Total

45

$28.5bn

$34.4bn

Creates opportunity for organic and acquired growth

¹

Source:  SNL Financial.  Texas Ratio = NPAs + 90s / TCE + Reserves.

26

26

Investment Highlights

Investment Highlights

Solid core operating performance

Stable core deposit funding profile

Addressing realities of credit cycle

Prudently building capital / proactive capital

management

Experienced management team to take advantage of

potential opportunities

27

27

Appendix

Appendix

28

28

Reconciliation of Non-GAAP Measures

Reconciliation of Non-GAAP Measures

($ in 000s)

($ in 000s)

Note: The Company’s accounting and reporting policies conform to U.S. generally accepted accounting principles (GAAP) and general practice within the banking industry.

As a supplement to GAAP, the Company has provided this non-GAAP performance result. The Company believes that this non-GAAP financial measure is useful because

it

allows

investors

to

assess

the

Company’s

operating

performance.

Although

this

non-GAAP

financial

measure

is

intended

to

enhance

investors’

understanding

of

the

Company’s business and performance, this non-GAAP financial measure should not be considered an alternative to GAAP.

For the 3-Months Ended

2006

2007

2008

31-Mar-09

30-Jun-09

30-Sep-09

31-Dec-09

Income (Loss) Before Taxes

$

152,298

$

94,012

$

36,045

$(3,814)

$(3,710)

$(2,569)

$(65,833)

Provision for Loan Losses

10,229

7,233

70,254

48,410

36,262

38,000

93,000

Pre-Tax, Pre-Provision Earnings (Loss)

$

162,527

$

101,245

$

106,299

$

44,596

$

32,552

$

35,431

$

27,167

Non-Operating Items

Securities Gains (Losses), net

$

4,269

$(50,801)

$(35,611)

$

8,222

$

6,635

$(6,975)

$(5,772)

Gain on FDIC-Assisted Transaction

-

-

-

-

-

-

13,071

Gains on Early Extinguishment of Debt

-

-

-

-

-

13,991

1,267

Write-Downs of Bank-Owned Life Insurance

(412)

(699)

(10,360)

-

-

-

-

Losses Realized on Other Real Estate Owned

304

514

(1,566)

(315)

(2,387)

(1,801)

(14,051)

FDIC Special Assessment

-

-

-

-

(3,500)

-

-

Total Non Operating Items

$

4,161

$(50,986)

$(47,537)

$

7,907

$

748

$

5,215

$(5,485)

Pre-Tax, Pre-Provision Core Operating Earnings

$

158,366

$

152,231

$

153,836

$

36,689

$

31,804

$

30,216

$

32,652

Risk-Weighted Assets

$

6,259,983

$

6,340,614

$

6,609,359

$

6,600,684

$

6,335,010

$

6,234,283

$

6,262,883

Pre-Tax, Pre-Provision Earnings / RWA

2.53

%

2.40

%

2.33

%

2.22

%

2.01

%

1.94

%

2.09

%