Seyfarth Represents Great Lakes Financial Resources, Inc. in its Merger with First Midwest Bancorp, Inc.

Seyfarth Shaw LLP represented south suburban Chicago-based Great Lakes Financial Resources, Inc. in its merger into First Midwest Bancorp, Inc., one of the Chicago metropolitan area’s largest independent bank holding companies.  As a result of this merger, Great Lakes Bank (the subsidiary bank of Great Lakes Financial Resources, Inc.) will also merge into First Midwest Bank (the subsidiary bank of First Midwest Bancorp, Inc.).  Great Lakes Bank operates eight branches in Chicago's south suburbs and has more than $582 million in assets.  The merger will enable Great Lakes Bank to expand its service and product offerings through First Midwest to build on its platform of commercial, retail, and wealth management products and services to meet the growing financial needs of Great Lakes Bank customers.

The merger consideration will be a combination of First Midwest stock and cash, with an overall transaction value of approximately $58 million.  The acquisition is subject to customary regulatory approvals, Great Lakes' stockholder approval as well as certain closing conditions, and is presently anticipated to close by the end of 2014.

The Seyfarth deal team consisted of Edward Karlin, Matthew Hafter and Whitney Schmidt (M&A), Steven Lifson (Employee Benefits) and Steven Meier (Tax).

Contact: Brian Kiefer, Director of Public Relations
(312) 460-6401, bkiefer@seyfarth.com