First Midwest Receives Federal Reserve Approval for Acquisition of Bridgeview Bancorp, Inc.

CHICAGO–(BUSINESS WIRE)–First Midwest Bancorp, Inc. (“First Midwest”), the parent company of
First Midwest Bank, today announced it has received approval from the
Federal Reserve to acquire Bridgeview Bancorp, Inc. (“Bridgeview”) and
its wholly owned subsidiary, Bridgeview Bank Group.

“We are very pleased to have received Federal Reserve approval for our
proposed acquisition of Bridgeview Bank Group, which we announced on
December 6, 2018,” said Michael L. Scudder, Chairman and Chief Executive
Officer of First Midwest. “With this approval, we remain on track for an
expected closing in the second quarter of 2019. We look forward to
welcoming Bridgeview’s clients and colleagues to First Midwest and to
continuing to expand our Chicagoland footprint.”

As of December 31, 2018, Bridgeview had approximately $1.3 billion of
assets, $1.0 billion of deposits, and $800 million of loans, excluding
Bridgeview’s mortgage division, which First Midwest is not acquiring.

The transaction remains subject to approval by Bridgeview’s
stockholders, regulatory approval by the Illinois Department of
Financial and Professional Regulation and the satisfaction of other
customary closing conditions.

About First Midwest

First Midwest (NASDAQ: FMBI) is a relationship-focused financial
institution and one of the largest independent publicly-traded bank
holding companies based on assets headquartered in Chicago and the
Midwest, with over $15 billion in assets and approximately $11 billion
in assets under management. First Midwest’s principal subsidiary, First
Midwest Bank, and other affiliates provide a full range of commercial,
treasury management, equipment leasing, consumer, wealth management,
private banking and trust products and services through locations in
metropolitan Chicago, northwest Indiana, central and western Illinois
and eastern Iowa. Visit First Midwest at

About Bridgeview

Bridgeview Bank is a wholly owned subsidiary of Bridgeview and maintains
its principal executive offices in Bridgeview, Illinois. Bridgeview Bank
is a client-focused bank committed to providing an outstanding banking
experience for all its personal and business banking clients. It
provides this experience through 13 banking locations throughout greater
Chicagoland. Bridgeview Bank’s website is

Forward-Looking Statements

This press release, as well as any oral statements made by or on behalf
of First Midwest, may contain certain “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements include those relating to First
Midwest’s proposed acquisition of Bridgeview, including the costs and
benefits associated therewith and the timing thereof. In some cases,
forward-looking statements can be identified by the use of words such as
“may,” “might,” “will,” “would,” “should,” “could,” “expect,” “plan,”
“intend,” “anticipate,” “believe,” “estimate,” “outlook,” “predict,”
“project,” “probable,” “potential,” “possible,” “target,” “continue,”
“look forward,” or “assume” and words of similar import. Forward-looking
statements are not historical facts or guarantees of future performance
or outcomes, but instead express only management’s beliefs regarding
future results or events, many of which, by their nature, are inherently
uncertain and outside of management’s control. It is possible that
actual results and events may differ, possibly materially, from the
anticipated results or events indicated in these forward-looking
statements. First Midwest cautions you not to place undue reliance on
these statements. Forward- looking statements are made only as of the
date of this document, and First Midwest undertakes no obligation to
update any forward-looking statements to reflect new information or
events or conditions after the date hereof.

Forward-looking statements are subject to certain risks, uncertainties
and assumptions, including, but not limited to: expected synergies, cost
savings and other financial or other benefits of the proposed
transaction between First Midwest and Bridgeview might not be realized
within the expected timeframes or might be less than projected, the
requisite stockholder and regulatory approvals for the proposed
transaction might not be obtained or might not be obtained in a timely
manner, credit and interest rate risks associated with First Midwest’s
and Bridgeview’s respective businesses, customer borrowing, repayment,
investment and deposit practices, and general economic conditions,
either nationally or in the market areas in which First Midwest and
Bridgeview operate or anticipate doing business, may be less favorable
than expected, new regulatory or legal requirements or obligations, and
other risks, uncertainties and assumptions identified under the sections
entitled “Risk Factors” and “Management’s Discussion and Analysis of
Financial Condition and Results of Operations” in First Midwest’s annual
report on Form 10-K for the year ended December 31, 2018, as well as
subsequent filings made with the Securities and Exchange Commission (the
“SEC”). However, these risks and uncertainties are not exhaustive. Other
sections of such reports describe additional factors that could
adversely impact First Midwest’s business, financial performance and
pending or consummated acquisition transactions, including the proposed
acquisition of Bridgeview.

Additional Information

The information contained herein does not constitute an offer to sell or
a solicitation of an offer to buy any securities or a solicitation of
any vote or approval. In connection with the proposed merger of First
Midwest and Bridgeview, First Midwest has filed a registration statement
on Form S-4 (file no. 333-229674) with the SEC. The registration
statement includes a proxy statement of Bridgeview, which also
constitutes a prospectus of First Midwest, that will be sent to
Bridgeview stockholders. Investors and stockholders are advised to read
the registration statement and proxy statement/prospectus because it
contains important information about First Midwest, Bridgeview and the
proposed transaction. This document and other documents relating to the
transaction filed by First Midwest can be obtained free of charge from
the SEC’s website at
These documents also can be obtained free of charge by accessing First
Midwest’s website at
under the tab “Investor Relations” and then under “SEC Filings.”
Alternatively, these documents can be obtained free of charge from First
Midwest upon written request to First Midwest Bancorp, Inc.,
Attn: Corporate Secretary, 8750 West Bryn Mawr Avenue, Suite 1300,
Chicago, Illinois 60631 or by calling (708) 831-7483, or from Bridgeview
upon written request to Bridgeview Bancorp, Inc., Attn: Chief Financial
Officer, 4753 North Broadway, Chicago, Illinois 60640 or by calling
(708) 594-7400.

Participants in this Transaction

First Midwest, Bridgeview and certain of their respective directors and
executive officers may be deemed under the rules of the SEC to be
participants in the solicitation of proxies from Bridgeview stockholders
in connection with the proposed transaction. Certain information
regarding the interests of these participants and a description of their
direct and indirect interests, by security holdings or otherwise, is
included in the proxy statement/prospectus regarding the proposed
transaction. Additional information about First Midwest and its
directors and certain of its officers may be found in First Midwest’s
definitive proxy statement relating to its 2018 Annual Meeting of
Stockholders filed with the SEC on April 11, 2018 and First Midwest’s
annual report on Form 10-K for the year ended December 31, 2018 filed
with the SEC on March 1, 2019. The definitive proxy statement and annual
report can be obtained free of charge from the SEC’s website at


Patrick S. Barrett
EVP, Chief Financial
(708) 831-7231

Maurissa Kanter
SVP, Director of Corporate
(708) 831-7345