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Mergers & Acquisitions

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Deal Overview

First Midwest Bancorp, Inc.
Actual Acquirer:
First Midwest Bancorp, Inc.
SparBank Incorporated
Deal Type:
Bank & Thrift Company
Agreement Date:
Announcement Date:
Announced Deal Value ($ M):
Completion Date:
Announced Deal Value Per Share ($ )

Consideration Breakout
Common Stock ($M) 121.9
Common Stock Issued 3,230,764

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 210.3 237.6
Price / Tangible Book (%) 210.5 237.8
Price / Earnings (x) 17.2 19.4
Price / Deposits (%) 28.12 33.02
Price / Assets (%) 23.21 27.41
Tangible Book Premium/ Deposits (%) 16.96 21.99
Deal Terms
Description of Consideration

SparBank shareholders received 21.72 shares of First Midwest common for each share held.

Accounting Method Pooling of Interests
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? Market Expansion
Goodwill Generated ($ 000) 0
Estimated Cost Savings (%) 18.00
Estimated Cost Savings ($ 000) NA
Est. Restructuring Charges ($ 000) 6,500
Maximum Termination Fee ($ 000) NA
Minimum Termination Fee ($ 000) NA
Exchange Ratio (Common For Common) 21.720000
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) 0
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer Yes Goldman Sachs & Co. LLC
Seller Yes ABN AMRO Inc.
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Hinshaw & Culbertson LLP
Seller Yes Schiff Hardin LLP