First Midwest to acquire Bridgeview Bank

First Midwest Bancorp announced it will acquire Bridgeview Bancorp, the holding company for Bridgeview Bank Group, for an undisclosed sum.

Bridgeview Bank, based in south suburban Bridgeview, operates 13 banking offices in Chicago and the suburbs, including branches in the Bryn Mawr, Edgewater, Garfield Ridge, Lincoln Park, Lincoln Square and Uptown neighborhoods of Chicago, as well as several suburbs. The bank has approximately $1.2 billion in total assets and $1.1 billion in deposits.

First Midwest, which moved its headquarters from Itasca to Chicago earlier this year, has more than 100 bank offices throughout metropolitan Chicago, northwest Indiana, central and western Illinois, and eastern Iowa. The bank has, more than $15 billion of assets and $11 billion of trust assets.

"Bridgeview is a well-established and trusted financial institution with deep client and community relationships, which we look forward to continuing," said Michael L. Scudder, First Midwest chairman, president and CEO. "Joining forces with Bridgeview brings to all of our clients an expanded footprint across Chicago and further enhances our position as metro Chicago's premier commercial bank."

The acquisition is expected to close in the second quarter of 2019.