First Midwest Bancorp Inc. in Itasca, Ill., on Thursday announced the pricing of its public offering, of 16.4 million shares of common stock.

It was priced at $11 a share. The net proceeds are expected to be about $170 million and used for general purposes.

The $7.7 billion-asset First Midwest also reported a larger-than-expected fourth-quarter loss of $37.5 million, nearly 40% larger than the year-earlier loss. On a per-share basis First Midwest lost 73 cents; analysts had projected a loss of 7 cents per share. The loss was driven by a $93 million provision for loan losses.

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