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First Midwest board authorizes $180M stock buyback program

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First Midwest board authorizes $180M stock buyback program

The board of First Midwest Bancorp Inc. authorized a buyback plan to repurchase up to $180 million of its common stock, or approximately 7.5% of the company's outstanding shares.

Repurchases may be conducted in the open market or in privately negotiated transactions, and the program will run for one year.