Arrow Down Icon of an arrow pointing downwards Arrow Left Icon of an arrow pointing to the left Arrow Right Icon of an arrow pointing to the right Arrow Up Icon of an arrow pointing upwards Bank Icon Icon of a bank building Check Icon Icon of a bank check Checkmark Icon Icon of a checkmark Credit-Card Icon Icon of a credit-card Funds Icon Icon of hands holding a bag of money Alert Icon Icon of an exclaimation mark Idea Icon Icon of a bright light bulb Key Icon Icon of a key Lock Icon Icon of a padlock Mail Icon Icon of an envelope Mobile Banking Icon Icon of a mobile phone with a dollar sign in a speech bubble Money in Home Icon Icon of a dollar sign inside of a house Phone Icon Icon of a phone handset Planning Icon Icon of a compass Question Icon Icon of a question mark inside of a speech bubble Reload Icon Icon of two arrows pointing head to tail in a circle Search Icon Icon of a magnifying glass Facebook Icon Icon of the Facebook logo LinkedIn Icon Icon of the LinkedIn Logo X X Symbol, typically used to close a menu
Mergers & Acquisitions

Return to Mergers & Acquisitions

Deal Overview

Buyer:
First Midwest Bancorp, Inc.
Actual Acquirer:
First Midwest/Western Illinois
Target:
Plainfield National Bank
Deal Type:
Bank & Thrift Company
Agreement Date:
2/27/1990
Announcement Date:
2/27/1990
Announced Deal Value ($ M):
15.50
Status:
Completed
Completion Date:
7/20/1990
Announced Deal Value Per Share ($ )
NA

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 209.0 NA
Price / Tangible Book (%) 209.0 NA
Price / Earnings (x) 11.9 NA
Price / Deposits (%) 24.18 NA
Price / Assets (%) 21.35 NA
Tangible Book Premium/ Deposits (%) 13.34 NA
Deal Terms
Description of Consideration

Plainfield shareholders received 804 shares of First Midwest common for each share held.

Accounting Method Pooling of Interests
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? NA
Goodwill Generated ($ 000) 0
Estimated Cost Savings (%) NA
Estimated Cost Savings ($ 000) NA
Est. Restructuring Charges ($ 000) NA
Maximum Termination Fee ($ 000) NA
Minimum Termination Fee ($ 000) NA
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 NA
Strike Price ($ ) NA
% of Shares Outstanding NA
Shares Under Option NA
Core Deposit Intangibles ($ 000) 0