Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Fri, April 26, 7:13 AM
This Slide: #120 of 620 |
Slide #120. First Midwest Bancorp, Inc. — Preferred Stock Offering
Company:
First Midwest Bancorp, Inc. (FMBI)
Date announced:
6/18/2020
Shares Offered:
4,400,000
Date of Pricing:
6/18/2020
Price Per Share:
$25.00
Preferred Stock Offering Details:
First Midwest Bancorp, Inc. ("First Midwest") today announced that it has priced an underwritten public offering of 4,400,000 depositary shares, each representing a 1/40th ownership interest in a share of its 7.000% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series C, without par value, with a liquidation preference of $1,000 per share of preferred stock (equivalent to $25 per depositary share) at an aggregate offering price of $110 million. The offering is expected to close on June 24, 2020, subject to customary closing conditions. First Midwest also has granted the underwriters a 30-day option to purchase up to an additional 660,000 depositary shares from First Midwest.
First Midwest Bancorp is a bank holding company. Through its subsidiary, First Midwest Bank (the Bank), Co. provides a range of commercial, treasury management, equipment leasing, consumer, wealth management, trust, and private banking products and services. The Bank provides deposit products and services, including checking, money market, and savings accounts and short and long-term certificates of deposit. The Bank provides debit and automated teller machine cards, credit cards, internet and mobile banking, and telephone banking. The Bank originates commercial and industrial, agricultural, commercial real estate, and consumer loans to businesses and residents in the Bank's market areas.
Open the FMBI Page at Preferred Stock Channel »
|
Open the FMBI Page at Preferred Stock Channel (in a new window) »
Free FMBI Email Alerts: Get Dividend Alerts Get SEC Filing Alerts |
Buy (2.60 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com |
|