First Midwest Bancorp will move its headquarters to Chicago from Itasca, Ill., next year.
The $11.6 billion-asset company will open an 80,000-square-foot office in the spring of 2018, it said Tuesday. The headquarters will be in Triangle Plaza on West Bryn Mawr Avenue, about 12 miles east of First Midwest's current headquarters.
"This new headquarters will offer greater accessibility and collaboration opportunities for our colleagues, allowing us to continue to retain and attract the best talent to serve our clients, while also providing flexibility to facilitate our corporate expansion strategies," CEO Michael Scudder said in a news release.
First Midwest plans to staff the new headquarters with about 300 employees, including some commercial banking teams. About 90% of the company's operations are already located in the Chicago metropolitan area, James Roolf, a First Midwest spokesman, said in an interview.
Most of the 300 employees who are expected to work at the new office are in existing positions. "There could some additions as we continue to grow," Roolf said.
First Midwest moved its headquarters from Buffalo Grove, Ill., to Itasca in 2002, according to the Federal Financial Institutions Examination Council.