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First Midwest Bancorp: 4Q Earnings Snapshot

CHICAGO (AP) _ First Midwest Bancorp Inc. (FMBI) on Tuesday reported fourth-quarter net income of $52.1 million.

The bank, based in Chicago, said it had earnings of 47 cents per share. Earnings, adjusted for one-time gains and costs, were 51 cents per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 50 cents per share.

The holding company for First Midwest Bank posted revenue of $223.1 million in the period. Its revenue net of interest expense was $194.9 million, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $192.3 million.

For the year, the company reported profit of $199.7 million, or $1.82 per share. Revenue was reported as $751.4 million.

First Midwest Bancorp shares have dropped 6.5% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $21.57, a drop of slightly more than 2% 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