First Midwest Bancorp Q2 Results Top Estimates - Quick Facts

First Midwest Bancorp Inc. (FMBI) reported Tuesday that net income applicable to common shares for the second quarter surged to $47 million or $0.41 per share from $18 million or $0.16 per share in the prior-year quarter.

Adjusted earnings per share were $0.46 compared to $0.19 last year. On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.37 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenue for the quarter grew 7 percent to $191 million from last year. Analysts expected revenues of $188.21 million for the quarter.

Net interest income edged down 0.7 percent to $144 million and non-interest income improved 40 percent to $46 million from last year.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
General Electric Company (GE) said it delivered a strong third quarter as orders grew, and margins continued to improve from a year ago. Adjusted GE Industrial organic profit increased 54% year-on-year, organically, driven primarily by increases at Aviation and Power, partially offset by decreases at... Ward Hill, Massachusetts-based Cedar's Mediterranean Foods is recalling Cedar's Organic Mediterranean Hommus citing undeclared pine nut, an allergen, the U.S. Food and Drug Administration said. The Cedar's Organic Mediterranean Hommus is packaged in a 10 oz. plastic container, with a UPC Code: 044115403028. Shares of UBS Group AG were gaining around 2 percent in Swiss trading after the banking major reported Tuesday higher profit in its third quarter with growth in net interest income. Further, the company said it intends to repurchase up to $0.6 billion of shares during the fourth quarter. The company will provide strategic update on February 1, 2022.
Follow RTT