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First Midwest Bank named one of top 100 banks

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First Midwest Bank named one of top 100 banks

A First Midwest Bank branch in Griffith.

First Midwest Bank was ranked as one of the top 100 banks of 2021 by the personal finance news website GOBankingRates.com.

The Chicago-based bank has a large footprint in Northwest Indiana. It's one of the largest independently run banks based in Chicago and the greater Midwest with 2,100 employees, $21 billion in assets and $14 billion in assets under management.

“First Midwest Bank lives up to its name, providing an extensive range of accounts and services to its Midwest-based clientele,” GoBankingRates.com said. "Account minimums are low and fees are mostly easy to avoid, but APYs are generally below-average."

GOBankingRates assessed banks with at least $1 billion in total assets, assessing them based on their breadth of products, account minimums, mobile app and fees. Other banks that were honored included Bank of America, Wells Fargo, KeyBank, U.S. Bank, Ally, BMO Harris Bank, Fifth Third Bank and PNC Bank.

First Midwest Bank got high marks for numerous account types, easy ways to avoid most fees, broad surcharge-free ATM access, and low account minimums. Cons mentioned were low APYs for most accounts and branch locations in just four states.

See a day in the life of Portage Patrolman Brian Graves in the latest installment of Riding Shotgun with NWI Cops.

Video filmed by Kale Wilk and produced by Scotia White. Interview by Anna Ortiz.

Dating back to 1940, First Midwest Bank is the third-largest bank headquartered in Illinois. It operates in Illinois, Indiana, Iowa and Wisconsin. In Northwest Indiana, First Midwest Bank has branches in Hammond, Munster, Highland, Griffith, Gary, Dyer, Crown Point, Merrillville, St. John and Winfield. 

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Business Reporter

Joseph S. Pete is a Lisagor Award-winning business reporter who covers steel, industry, unions, the ports, retail, banking and more. The Indiana University grad has been with The Times since 2013 and blogs about craft beer, culture and the military.

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