First Midwest completes acquisition of Standard Bank & Trust

ITASCA - First Midwest Bancorp has completed its acquisition of Standard Bancshares, Inc. and Standard Bank & Trust Company, based in Hickory Hills.

Lawrence P. Kelley, president and CEO of Standard Bank, will become the market president for First Midwest's south metro Chicago and northwest Indiana markets, and will join the board of directors of First Midwest Bank. Standard Bank's senior lending team also will join First Midwest Bank, bringing additional leadership and depth to the combined organization.

"This combination strengthens our position as Chicago's premier commercial bank, enhances our leading south metro market presence and continues our expansion into northwest Indiana," said Michael L. Scudder, president and CEO of First Midwest. "Together, we will continue to provide the exceptional service our clients have come to rely on through bankers deeply committed to their financial success and to delivering an even broader array of financial products and services."

Standard Bank had approximately $2.3 billion in assets, $2.1 billion in deposits and $1.9 billion in loans, as of December 31, 2016.