U.S. Markets open in 23 mins

First Midwest Bancorp: 3Q Earnings Snapshot

CHICAGO (AP) _ First Midwest Bancorp Inc. (FMBI) on Tuesday reported third-quarter earnings of $54.1 million.

The Chicago-based bank said it had earnings of 49 cents per share. Earnings, adjusted for one-time gains and costs, came to 52 cents per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 49 cents per share.

The holding company for First Midwest Bank posted revenue of $224.9 million in the period. Its revenue net of interest expense was $193.7 million, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $192 million.

First Midwest Bancorp shares have climbed almost 2% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $20.13, a drop of 16% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FMBI at https://www.zacks.com/ap/FMBI