Below is transcript of the First Midwest Bancorp Inc (NASDAQ:FMBI)’s Fourth Quarter 2014 and Full Year Earnings Conference Call, held on January 21, 2015, at 10:00 a.m. EST. Lee Munder Capital Group, Dreman Value Management and Pzena Investment Management was among First Midwest Bancorp Inc (NASDAQ:FMBI) shareholders at the end of the third quarter.
First Midwest Bancorp Inc (NASDAQ:FMBI) is a bank holding company with operations throughout the greater Chicago metropolitan area as well as northwest Indiana, central and western Illinois, and eastern Iowa. The Company’s principal subsidiary is First Midwest Bank (the Bank), which provides a range of commercial and retail banking and wealth management services to consumer, corporate, and public or governmental customers.
Company Representatives:
Nick Chulos – Executive Vice President, Corporate Secretary & General Counsel
Mike Scudder – President & Chief Executive Officer
Mark Sander – Senior Executive Vice President & Chief Operating Officer
Paul Clemens – Executive Vice President & Chief Financial Officer.
Analysts:
Emlen Harmon – Jefferies
Michael Perito – KBW
Brad Milsaps – Sandler O’Neill
Eric Zwick – Sterne Agee
Stephen Geyen – D.A. Davidson.
Operator
Good morning ladies and gentlemen and welcome to the First Midwest Bancorp 2014 Fourth Quarter and Full Year Earnings Conference Call. At this time I would like to inform you that this conference is being recorded and that all participants are in a listen-only mode. At the request of the company we will open the conference up for questions and answers for analysts only after the presentation. It is now my pleasure to turn the floor over to Nick Chulos, Executive Vice President, Corporate Secretary and General Counsel of First Midwest Bancorp. Sir, you may begin.
Nick Chulos – Executive Vive Preident, Corporate Secretary & General Counsel
Good morning, everyone and thank you for joining us today. Following the close of the market yesterday, we released our results for the fourth quarter and full year for 2014. If you have not received a copy of this press release, you may obtain it on our website or by calling us at area code 630-875-7463.
During the course of the discussion today, our comments may include forward-looking statements. These statements are not historical facts and are based on management’s current beliefs. These statements also are subject to certain assumptions, risks and uncertainties and are not guarantees of future performance or outcomes. The risks, uncertainties and Safe Harbor information contained in our most recent 10-K and other filings with the Securities and Exchange Commission should be considered when evaluating any forward-looking statements. Lastly, we will not be updating any forward-looking statements in light of facts or circumstances that may arise after this call.
Here this morning to discuss our fourth quarter and full year results and outcome are Mike Scudder, President and Chief Executive Officer of First Midwest Bancorp; Mark Sander, our Senior Executive Vice President and Chief Operating Officer and Paul Clemens, our Executive Vice President and Chief Financial Officer. With that, I will now turn the floor over to Mike Scudder.
Mike Scudder – President & Chief Executive Officer
Thanks, Nick. Good morning, everyone. Let me add my thanks for joining us here today. As is typically our practice, my intent would be to cover the highlights of certainly what was a very active and dynamic quarter in the second half of the year for all of us and then let Mark and Paul offer some additional business color.
Over the last five months of the year, we added some $1.2 billion in deposits almost $800 million in loans in about 20 locations on a gross basis as well as acquired the leasing platform that came with the National Machine Tool acquisition. So I’m very pleased to share that all of these acquisitions have been closed, systems conversions are fully completed and all activities are generally or substantially integrated.
