First Midwest expands into ESOP lending

CHICAGO - First Midwest Bank said it will expand its specialty lending services into Employee Stock Ownership Program companies.

First Midwest's new ESOP Finance Group will have a national lending platform and provide expertise in ESOP-based ownership transition to its relationship bankers and customers. It is led by Elizabeth A. Di Cola, who has more than 35 years of legal, corporate finance and commercial banking experience, including leadership roles in the ESOP Finance groups at Fifth Third Bank and MB Financial. Edward J. Weisto and Ashley N. Kirchner round out the team as senior vice president and vice president, respectively. Weisto has experience in mergers and acquisitions, debt capital markets and ESOP lending, having worked at PNC, ABN Amro-LaSalle Bank, Associated Bank, MB Financial and most recently at Fifth Third Bank. Kirchner joins First Midwest from Fifth Third Bank and MB Financial's ESOP lending team, where she financed both ESOP and non-ESOP-owned companies for five years.

First Midwest's ESOP Finance Group is the latest addition to its Commercial Specialty Banking capabilities, which include a full range of solutions and services in asset-based lending, leveraged lending and capital markets, as well as health care, franchise, agriculture and equipment finance.