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Federal Reserve approves First Midwest's acquisition of Bridgeview Bancorp

The Federal Reserve approved Chicago-based First Midwest Bancorp Inc.'s acquisition of Bridgeview, Ill.-based Bridgeview Bancorp Inc. and its unit Bridgeview Bank Group.

The transaction remains subject to approval by Bridgeview's shareholders and the regulatory approval of the Illinois Department of Financial and Professional Regulation. Closing is expected in the second quarter.