Daily News: February 29, 2012

First Midwest Bank Expands Asset-Based Lending Division

First Midwest Bank announced the addition of several key staff members to its recently formed Asset-Based Lending Division.

The new division is part of the bank’s strategic initiative to expand its lending capability and grow its loan portfolio. Led by John Littrell, Group senior vice president, the asset-based lenders collectively add over 105 years of ABL experience to First Midwest’s lending platform. The group will focus on middle-market companies with financing needs that range from $2 million to $25 million. The First Midwest Asset-Based Lending Group will include: Craig Kempton, senior vice president, business development officer; Scott Kennedy, senior vice president, credit manager; Karen Strom, vice president, Systems manager; and Philip Tan, vice president, field exam manager.

“The assembly of the Asset-Based Lending Group represents significant growth opportunities for First Midwest and continues to illustrate our commitment to service middle market borrowers in the Chicago market and the Midwest,” stated Mark Sander, president and COO of First Midwest Bank. “Additionally, this team will be fully operational in Indiana, Iowa, Kansas, Kentucky, Minnesota, Ohio and Wisconsin.”

First Midwest Bank, the wholly owned subsidiary of First Midwest Bancorp, Inc. is a relationship-based banking franchise in the Chicagoland banking market with approximately $8 billion in assets.