CHICAGO (AP) _ First Midwest Bancorp Inc. (FMBI) on Thursday reported first-quarter net income of $19.4 million.
The bank, based in Chicago, said it had earnings of 18 cents per share. Earnings, adjusted for costs related to mergers and acquisitions, were 22 cents per share.
The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 33 cents per share.
The holding company for First Midwest Bank posted revenue of $209.6 million in the period. Its revenue net of interest expense was $182.9 million, surpassing Street forecasts. Four analysts surveyed by Zacks expected $182.3 million.
First Midwest Bancorp shares have fallen 36% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $14.78, a drop of 31% in the last 12 months.