First Midwest Bank Headquarters Information

First Midwest Bank is First Midwest Bancorp, Inc.’s banking subsidiary. The parent company is publicly traded and was started in Joliet, Illinois. The company is now based in Itasca, Illinois.

The bank has a total of 130 branches and through these provides both retail and business banking services.

As of 2016, the bank’s assets were valued at $14 billion while the wealth management section of the bank was managing approximately $9.5 billion worth of assets.

The bank’s branches can be found in:

• The Chicago metropolitan area
• Central and western Illinois
• Northwest Indiana
• Eastern Iowa

The bank serves suburban, rural and urban markets, catering to a wide range of industries from manufacturing and healthcare to retail trade and agriculture.

History of First Midwest Bank

First Midwest Bank was established in 1933. This was in the wake of the great depression and was the only bank in Joliet to come out of that era.

The bank was launched by C.D. Oberwortmann, Frank Turk and Andrew Barber as the Union National Bank and Trust Company of Joliet. The bank was launched with the belief that customers should be treated the same whether they wore overalls or business suits.

In the 40 years that followed, the company would grow into a chain of 20 banks that were all guided by the same principles.

In the 1980s, the decision was finally made to bring the 20 banks together. This was to allow the company to move into a new era of banking. This is what led to the creation of First Midwest Bancorp in 1983.

At that time, the joining of the stocks of the 20 banks was the biggest bank consolidation to be approved by the Federal Reserve. At around the same period, the company started trading on the Nasdaq.

Going under the name First Midwest Bank, the assets of the bank had grown to more than $5 billion by 1998. The banks charter changed from national bank to state bank. This was also when the bank’s headquarters were moved to Itasca in Illinois.

The bank made several major acquisitions after the turn of the century. By 2008, the assets of the bank had expanded to $8.5 billion in value and the bank was in more than 100 locations.

First Midwest Bank Headquarters

The headquarters of First Midwest Bank are located at One Pierce Place in Itasca. The building is also known by some as The Chancellory I.

Construction of One Pierce Place was completed in 1985. The building has a height of 223 feet and has 16 floors above ground.

There is 525,400 square feet of place within the building which also has a covered parking area. The building has received two distinctions:

• LEED Gold Certification
• Energy Star Certification

Thanks to its close proximity to the O’Hare International Airport, the building is easily accessible. Visitors can also get there via either of two commuter rails.

The building is close enough to various amenities and also has within it a deli and sundry shop.

 

First Midwest Bank Headquarters Address

1 Pierce Place Itasca, IL 60143

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