(Source: MARKETWIRE)First Midwest Bancorp, Inc. ("First Midwest" or the "Company") (NASDAQ: FMBI) announced today the final exchange ratios for its previously announced offer to exchange the Company's 5.85% Subordinated Notes due 2016 (the "Notes") for newly issued shares of common stock of the Company and its separate previously announced offer to exchange the 6.95% Capital Securities (the "Capital Securities") issued by First Midwest Capital Trust I for newly issued shares of common stock of the Company. As described in the respective Offering Memorandum for each exchange offer, the exchange ratios are calculated based on the average Volume Weighted Average Price, or "Average VWAP," of the common stock for each of the five consecutive trading days ended September 22, 2009, which was $10.2720 per share.

The total number of shares of common stock issuable for each $1,000 principal amount of the Notes accepted will be 88 for Notes tendered during the early tender period (and not subsequently withdrawn) and 83 for Notes tendered during the final tender period (and not subsequently withdrawn). The total number of shares of common stock issuable for each $1,000 liquidation amount of the Capital Securities accepted will be 78 for Capital Securities tendered during the early tender period (and not subsequently withdrawn) and 73 for Capital Securities tendered during the final tender period (and not subsequently withdrawn). The Company will issue no more than 4,500,000 shares of common stock in the Notes exchange offer and no more than 7,500,000 shares of common stock in the Capital Securities exchange offer, and will separately prorate the securities that it accepts in each exchange offer as necessary to remain within these limits, as described in the respective Offering Memorandum for each exchange offer.

The early tender period for both exchange offers expired at 5:00 p.m., New York City time, on September 10, 2009. Each exchange offer will expire at 11:59 p.m., New York City time, on September 24, 2009, unless it is extended or terminated early. The Notes or the Capital Securities that are tendered into either exchange offer may be withdrawn at any time prior to the expiration date. To receive the consideration in either exchange offer, holders must validly tender and not withdraw their securities prior to the expiration date of such offer. The Company expects to deliver the consideration for each exchange offer on or about September 29, 2009.