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First Midwest Bank declares a dividend of $0.14 per share

A First Midwest Bank branch in Griffith.

First Midwest Bank declared a dividend of 14 cents per share in the third quarter.

The Chicago-based bank, which has a large footprint in Northwest Indiana, will pay the quarterly dividend on Oct. 8 to anyone who owned its stock as of Sept. 27. First Midwest, a successor to Bank Calumet in Hammond and the Calumet Region stalwart Standard Bank and Trust, has paid 147 straight quarterly cash dividends since 1983.

First Midwest stock is publicly traded under the symbol FMBI on NASDAQ.

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The bank has $17.5 billion in assets and $12 billion in assets under management and branches in Dyer, St. John, Schererville, Highland, Crete, Munster, Griffith, Crown Point, Merrillville, Hammond, Gary, Lansing, Ford Heights, Chicago Heights, Tinley Park, Homewood and Frankfort.

First Midwest, which also serves greater Chicagoland, southeast Wisconsin, downstate Illinois and eastern Iowa, turned a profit of $47 million last year, or $0.43 per share. It was a 1.9% year-over-year increase.

The bank has been growing through acquisition but closing branches in recent years, including in Northwest Indiana and neighboring Calumet City.

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