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posted: 10/15/2020 3:05 PM

First Midwest announces plan to close branches

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CHICAGO -- First Midwest Bancorp Inc. Thursday announced plans to consolidate branches, as well as to reopen branches that were closed due to the COVID-19 pandemic.

By the end of the year, First Midwest will fully reopen the lobbies of 23 branches that were closed, the company said. In early 2021, it will consolidate 17 branches, or approximately 15% of its branch network.

Following these actions, First Midwest's branch distribution network will remain one of the largest in the Chicago area, serving clients from 105 locations. The branch consolidations will have minimal impact on clients and market coverage, First Midwest said. Nearly all locations are within close proximity of another First Midwest branch, and approximately half have been closed over the past six months due to the pandemic.

"Our clients are increasingly favoring a more digital banking experience, which has been amplified and accelerated due to the COVID-19 pandemic," said Mark Sander, president and chief operating officer of First Midwest.

Branches that will close permanently were not identified.