New York, June 29, 2016 -- Moody's Investors Service affirmed all the ratings of First Midwest Bancorp, Inc. and its subsidiaries including First Midwest Bank (collectively First Midwest) following the announcement that it plans to acquire Standard Bancshares, Inc. of Illinois (Standard, not rated) in an all-stock transaction valued at approximately $365 million and that is expected to close in late 2016 or early 2017. First Midwest Bank has long- and short-term deposit ratings of A2 and Prime-1, respectively, and an issuer rating of Baa2. Moody's also affirmed the bank's standalone baseline credit assessment (BCA) and adjusted BCA of baa1 and its Counterparty Risk Assessments of A3(cr) and Prime-2(cr). First Midwest Bancorp has a Baa2 issuer rating and First Midwest Capital Trust I has a cumulative preferred stock rating of Baa3 (hyb). The rating outlook is stable.

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