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First Midwest Bank expands to Iowa

First Midwest Bank expands to Iowa

First Midwest Bank is expanding to Iowa.

The Chicago-based bank, which has a large retail presence in Northwest Indiana, opened a new 3,000-square-foot branch in downtown Davenport to serve the Quad Cities straddling the Illinois/Iowa border with "a full range of retail, commercial and wealth products and services, as well as a drive-up window and a 24-hour ATM."

“First Midwest Bank 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 are excited to expand 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.”

Though now growing again, First Midwest shuttered 19 branches last year, including five locations in the Calumet Region. 

The bank has had a large brick-and-mortar footprint in the Calumet Region since acquiring Hammond's homegrown Bank Calumet, Great Lakes Bank, and Standard Bank and Trust. It has branches in Crown Point, Dyer, East Chicago, Gary, Griffith, Hammond, Highland, Merrillville, Munster, Schererville and St. John. 

First Midwest Bank has about $18 billion in assets and $12 billion in assets under management, making it one of the largest independent, publicly traded banks headquartered in the Midwest.

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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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