Business News • MarketWire • First Midwest Bancorp, Inc. Receives Approval to Repay TARP Investment |
First Midwest Bancorp, Inc. Receives Approval to Repay TARP Investment |
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First Midwest Bancorp, Inc. Receives Approval to Repay TARP Investment
ITASCA, IL--(Marketwire - Oct 26, 2011) - First Midwest Bancorp, Inc. ("First Midwest" or the "Company") (NASDAQ: FMBI) today announced that it has received approval from the United States Department of the Treasury (the "Treasury") to redeem all of the $193 million of Series B preferred stock issued to the Treasury in December 2008 under the U.S. government's Troubled Asset Relief Program ("TARP"). There are no conditions or qualifications of any kind associated with the approval. The Company anticipates that the redemption will be funded through a combination of existing liquid assets and proceeds from the completion of one or more debt offerings totaling approximately $115 million. The size, structure, and timing of any such debt offerings will depend upon overall market conditions.
View More : http://www.marketwire.com/mw/release.do?id=1577804&sourceType=3
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