ITASCA, IL--(Marketwire - September 25, 2009) - First Midwest Bancorp, Inc. ("First Midwest" or the "Company") (NASDAQ: FMBI) announced today the results of 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 (the "Notes Exchange Offer") 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 (the "Capital Securities Exchange Offer" and, together with the Notes Exchange Offer, the "Exchange Offers").

As of 11:59 p.m., New York City time, on September 24, 2009, the expiration date for both Exchange Offers, approximately $29.5 million in aggregate principal amount of the Notes, representing approximately 29.5% of the $100 million aggregate principal amount of Notes outstanding prior to the Notes Exchange Offer, had been validly tendered and not withdrawn in the Notes Exchange Offer and approximately $39.3 million in aggregate liquidation amount of the Capital Securities, representing approximately 31.4% of the $125 million aggregate liquidation amount of Capital Securities outstanding prior to the Capital Securities Exchange Offer, had been validly tendered and not withdrawn in the Capital Securities Exchange Offer. First Midwest has accepted for exchange all Notes and Capital Securities validly tendered and not validly withdrawn in the Exchange Offers. The Company expects that settlement of the Exchange Offers will occur on September 29, 2009.

In the aggregate, the Exchange Offers will result in the retirement of approximately $68.8 million of Company indebtedness, the issuance of approximately 5.6 million shares of the Company's common stock and the recognition by the Company of approximately $7 million in after tax gains.

About First Midwest Bancorp, Inc.

First Midwest is the premier relationship-based banking franchise in the growing Chicagoland banking market. As one of the Chicago metropolitan area's largest independent bank holding companies, First Midwest provides the full range of both business and retail banking and trust and investment management services through some 100 offices located in 62 communities, primarily in metropolitan Chicago.

Contact Information: CONTACT Cynthia Lance (Media) EVP and Corporate Secretary First Midwest Bancorp, Inc. (630) 875-7345 James Hotchkiss (Investors) EVP and Treasurer First Midwest Bank (630) 875-7244 www.firstmidwest.com