After shuttering 19 branches last year, including five in the Region, First Midwest Bank is again growing its retail footprint.
The Chicago-based bank, which has a large brick-and-mortar presence in Northwest Indiana, is building a new 3,000-square-foot full-service branch in Davenport, Iowa with a drive-through window and ATMs.
“First Midwest has long-standing roots in the Quad Cities, with deep client and community relationships,” said Rick Mahoney, Regional Group Head for Commercial Banking in the Quad Cities. “We look forward to expanding our ability to meet the financial needs of consumers and businesses in Davenport and the surrounding area through a highly personalized client experience and by offering them a broad range of banking and wealth management solutions.”
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First Midwest has $17 billion of assets, $12 billion of assets under management, and branches in Crown Point, Dyer, East Chicago, Gary, Griffith, Hammond, Highland, Merrillville, Munster, Schererville, and St. John. It closed its Lowell, Chesterton, Gary, East Chicago and Calumet City branches last year as part of its "Delivering Excellence" initiative as it looked to shift some focus from brick-and-mortar to online.
The bank has closed at least nine Region branches since acquiring Bank Calumet for $1.1 billion in 2006 and Standard Bank and Trust for $365 million in 2016.