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FIRST MIDWEST BANCORP ANNOUNCES EXPANDED STOCK REPURCHASE PROGRAM

    FIRST MIDWEST BANCORP ANNOUNCES EXPANDED STOCK REPURCHASE PROGRAM
    NAPERVILLE, Ill., Jan. 23 /PRNewswire/ -- First Midwest Bancorp, Inc. (NASDAQ-NMS: FMBI) today announced the expansion of the company's Stock Repurchase Program to allow privately negotiated purchases of its stock.
    In November 1991 the company announced that its board had authorized the purchase from time to time of up to 600,000 shares or approximately 5 percent of its common stock in open market transactions.  The expansion announced today allowing privately negotiated in addition to open market purchases will afford the company maximum flexibility in effecting repurchases.
    Shares repurchased under the program will be reserved for future use in conjunction with the company's stock option and other incentive plans as well as for general corporate purposes.  The program has no expiration date and, as expanded, will allow management to effect purchases both in open market as well as privately negotiated transactions, as it deems prudent.
    At $2.3 billion, First Midwest Bancorp is Illinois' fourth largest publicly traded bank holding company whose four regional banks and trust company operate 36 banking and five trust offices in northern Illinois.
    -0-        1/23/92
    /CONTACT:  Ja -- NY029 -- 2684 01/23/92 10:11 EST
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Publication:PR Newswire
Date:Jan 23, 1992
Words:199
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