First Midwest Bancorp Q3 Profit Down - Quick Facts

(RTTNews) - First Midwest Bancorp Inc. (FMBI), the holding company of First Midwest Bank, reported that its net income for the third quarter of 2014 dropped to $18.5 million, or $0.25 per share from $29.3 million, or $0.39 per share in the third quarter of 2013. Analysts polled by Thomson Reuters expected the company to report earnings of $0.26 per share. Analysts' estimates typically exclude special items.

Results for 2013 included the benefit of $0.15 per share, attributed to the sale of an equity investment, net of certain other treasury related actions.

Net interest income for the quarter grew to $71.03 million from $65.67 million in the prior year. But, total non-interest income was $37.11 million, down from $58.09 million in the previous year.