First Midwest Bancorp in Itasca, Ill., will restructure its commercial banking group after a key executive retires.
The $9.6 billion-asset company said in a press release Monday that Victor Carapella, the group's director, will retire on March 31.
First Midwest said that, when Carapella leaves, its commercial banking group will be divided into four business units: middle-market banking, business banking, commercial real estate and equipment leasing and specialty banking.
Dean Glassberg will become executive vice president of the middle-market unit. He has been with First Midwest for 16 years.
The business banking unit will be led by S. Michael McCracken, who has about 25 years of business banking, middle market, commercial real estate and healthcare lending experience. McCracken joined First Midwest earlier this year when the company bought the Chicago banking operations of Popular Community Bank.
Marc Parise will oversee the commercial real estate and equipment leasing division, while David Knapp will to lead the specialty banking unit. Parise and Knapp have been working in the banking industry for more 30 years.
Each executive will report to First Midwest President Mark Sander.