Itasca, Ill.-based FirstMidwest Bancorp Inc., as borrower, and U.S. Bank NA, as lender, entered into a loan agreement Sept.27 maturing Sept. 26, 2017.
The agreement permits revolving loans of $50 million, with advancesto bear interest at a rate equal to one-month LIBOR plus 1.75% per year, adjustedon a monthly basis. First Midwest Bancorp is also required to pay U.S. Bank an unusedfacility fee, payable quarterly, equal to 0.35% per year.
First Midwest Bancorp plans to use any proceeds from the creditfacility for general corporate purposes.
U.S. Bank is a unit of U.S.Bancorp.