First Midwest Bancorp: 4Q Earnings Snapshot

·1 min read

CHICAGO (AP) _ First Midwest Bancorp Inc. (FMBI) on Tuesday reported fourth-quarter net income of $41.6 million.

The bank, based in Chicago, said it had earnings of 33 cents per share. Earnings, adjusted for non-recurring costs, were 43 cents per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 29 cents per share.

The holding company for First Midwest Bank posted revenue of $187.7 million in the period. Its revenue net of interest expense was $175.8 million, missing Street forecasts. Four analysts surveyed by Zacks expected $180.3 million.

For the year, the company reported profit of $107.9 million, or 87 cents per share. Revenue was reported as $720.3 million.

First Midwest Bancorp shares have climbed slightly more than 9% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $17.40, a drop of 14% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FMBI at https://www.zacks.com/ap/FMBI