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First Midwest Bancorp Inc. in Itasca, Ill., has completed the sale of $115 million in senior notes and will use the proceeds to exit the Troubled Asset Relief Program.
November 22
First Midwest Bancorp Inc. in Itasca, Ill., said Thursday that it paid $900,000 to repurchase a warrant it had issued to the Treasury Department as part of its participation in the Troubled Asset Relief Program.
The $8.4 billion-asset company said that the warrant entitled the Treasury to buy roughly 1.3 million shares of common stock.
First Midwest said in November that it had completed the sale of $115 million in senior notes, the proceeds of which it used to exit TARP by redeeming $193 million in preferred stock it issued to the Treasury in late 2008.
