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Mergers & Acquisitions

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Deal Overview

Buyer:
First Midwest Bancorp, Inc.
Actual Acquirer:
First Midwest Bancorp, Inc.
Target:
Bank Calumet, Inc.
Deal Type:
Bank & Thrift Company
Agreement Date:
12/12/2005
Announcement Date:
12/12/2005
Announced Deal Value ($ M):
307.00
Status:
Completed
Completion Date:
3/31/2006
Announced Deal Value Per Share ($ )
153.59

Consideration Breakout
Cash ($M) 307.0

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 235.0 230.9
Price / Tangible Book (%) 238.3 234.1
Price / Earnings (x) 20.1 21.5
Price / Deposits (%) 32.74 32.63
Price / Assets (%) 26.96 25.62
Tangible Book Premium/ Deposits (%) 20.57 20.20
Deal Terms
Description of Consideration

First Midwest Bancorp paid $307.0 million in cash to acquire Bank of Calumet.

Accounting Method Purchase
In-State Transaction? No
Merger of Equals? No
Geographic Expansion? In Market
Goodwill Generated ($ 000) 176,233
Estimated Cost Savings (%) 25.00
Estimated Cost Savings ($ 000) 7,830
Est. Restructuring Charges ($ 000) 5,600
Maximum Termination Fee ($ 000) 7,500
Minimum Termination Fee ($ 000) 0
Exchange Ratio (Common For Common) NA
Exchange Ratio (Common For Preferred) NA
Exchange Ratio (Preferred For Common) NA
Exchange Ratio (Preferred For Preferred) NA
Lockup Agreement No
Strike Price ($ ) NA
% of Shares Outstanding NA
Shares Under Option NA
Core Deposit Intangibles ($ 000) 24,402
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer Yes Keefe Bruyette & Woods Inc.
Seller Yes Austin Associates LLC
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Chapman & Cutler LLP
Seller Yes Barack Ferrazzano Kirschbaum