Exhibit 99.1

FIRST MIDWEST BANCORP, INC. ANNOUNCES
2013 SECOND QUARTER RESULTS

Increased Earnings - Higher Dividends -

Strong Loan Growth - Lower Noninterest Expense

ITASCA, IL, July 24, 2013 — Today, First Midwest Bancorp, Inc. (the “Company” or “First Midwest”) (NASDAQ NGS: FMBI), the holding company of First Midwest Bank (the “Bank”), reported results of operations and financial condition for the second quarter of 2013. Net income applicable to common shares for the second quarter of 2013 was $16.0 million, or $0.22 per share. This compares to $14.4 million, or $0.20 per share, for the first quarter of 2013 and $6.3 million, or $0.09 per share, for the second quarter of 2012.

“As we reach mid-year, business momentum continues to build,” said Michael L. Scudder, President and Chief Executive Officer of First Midwest Bancorp, Inc. “Earnings improved by 10% from last quarter and represented the third consecutive quarter of double digit earnings growth. Strong performance was evident across all of our business lines and, along with an improved credit profile and controlled spending, drove solid corporate loan growth, increased fee-based revenues, and lower overhead.”

Mr. Scudder concluded, “Our growing momentum, ample capital, and engaged team are significant advantages as we look to expand our business and benefit from market opportunities.”

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SELECT HIGHLIGHTS

Business Momentum

·                  Earnings per share grew 10% to $0.22 per share compared to $0.20 per share for the first quarter of 2013 and increased by 144% from $0.09 per share in the second quarter of 2012.

·                  Total loans of $5.3 billion increased by $112.3 million, or 9% annualized, from March 31, 2013 largely led by growth in the commercial and industrial and agricultural portfolios.

·                  Net interest margin of 3.70% is consistent with the first quarter of 2013 after adjusting for the impact of $142.8 million of average growth in seasonal public fund balances.

·                  Fee-based revenues remained strong at $26.0 million, consistent with the first quarter of 2013 and up 10% from the second quarter of 2012.

·                  Noninterest expense totaled $62.4 million, down 4% from the first quarter of 2013.

Improving Credit and Strengthening Capital

·                  Non-performing loans decreased almost 10% to $93.0 million compared to March 31, 2013 and 55% compared to June 30, 2012.

·                  Net loan charge-offs, excluding $2.0 million of covered loan charge-offs, totaled $7.3 million, consistent with the first quarter of 213 and down from $20.1 million for the second quarter of 2012.

·                  Tier 1 common capital to risk-weighted assets remained strong at 9.69% as of June 30, 2013, a 7 basis point improvement from March 31, 2013.

·                  Dividends declared on common stock were $0.04 per share, an increase of 300% from the first quarter of 2013.

Operating Performance Highlights

(Dollar amounts in thousands)

(1) Comprised of demand deposits and interest-bearing transactional accounts.

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SIGNIFICANT SECOND QUARTER EVENT

During the second quarter of 2013, the Board of Directors approved a 300% increase in the quarterly cash dividend to $0.04 per common share. This represents the 122nd consecutive dividend declared by the Company since it became publicly traded in 1983.

OPERATING PERFORMANCE

Pre-Tax, Pre-Provision Operating Earnings (1)

(Dollar amounts in thousands)

(1)          The Company’s accounting and reporting policies conform to U.S. generally accepted accounting principles (“GAAP”) and general practices within the banking industry. As a supplement to GAAP, the Company provided this non-GAAP performance result, which the Company believes is useful because it assists investors in evaluating the Company’s operating performance. This non-GAAP financial measure should not be considered an alternative to GAAP.

Pre-tax, pre-provision operating earnings of $30.7 million for the second quarter of 2013 increased 5.4% from the first quarter of 2013 and decreased 3.9% from the second quarter of 2012. Compared to the quarter ended March 31, 2013, the increase resulted from higher net interest income and a reduction in noninterest expense primarily from lower compensation expense.

The decline in pre-tax, pre-provision operating earnings from the second quarter of 2012 resulted from a reduction in net interest income and a rise in noninterest expense, which was substantially offset by growth in noninterest income.

Further discussion of net interest income and noninterest income and expense is presented in later sections of this release.

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Net Interest Income and Margin Analysis

(Dollar amounts in thousands)

(1)          Interest income and yields on tax-exempt securities and loans are presented on a tax-equivalent basis, assuming a federal income tax rate of 35%. This non-GAAP financial measure assists management in comparing revenue from both taxable and tax-exempt sources. The corresponding income tax impact related to tax-exempt items is recorded within income tax expense. These adjustments have no impact on net income.

(2)          Includes covered interest-earning assets consisting of loans acquired through the Company’s Federal Deposit Insurance Corporation (“FDIC”)-assisted transactions subject to loss sharing agreements and the related FDIC indemnification asset.

Compared to March 31, 2013, the $179.3 million increase in total interest-earning assets was driven by growth in other interest-earning assets, investment securities, and the loan portfolio. Total interest-bearing liabilities increased from March 31, 2013 due to a rise in interest-bearing transaction deposits, which more than offset the decline in time deposits and resulted in a more favorable funding mix. Overall, funding sources increased in the second quarter of 2013 from the impact of $142.8 million of average growth in seasonal public fund balances.

Total interest-earning assets grew by $127.4 million from the second quarter of 2012 from an increase in other interest-earning assets and investment securities, which mitigated the decline in average loans primarily resulting from the bulk loan sales completed in the fourth quarter of 2012. The increase in total interest-bearing liabilities was driven by higher levels of interest-bearing transaction deposits, which more than offset the decline in time deposits and resulted in a more favorable funding mix.

Tax-equivalent net interest margin for the current quarter was 3.70%, declining 7 basis points compared to the first quarter of 2013 and 18 basis points from the second quarter of 2012. These decreases were driven by the continued repricing of maturing investment securities, which was mitigated by a reduction in rates paid on borrowed funds and a shift from higher paying time deposits to lower paying deposit products. In addition, the tax-equivalent net interest margin was reduced by 7 basis points from March 31, 2013 as a result of investing excess cash from seasonal deposit growth into other interest-earning assets.

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Noninterest Income Analysis

(Dollar amounts in thousands)

N/M — Not meaningful.

(1)         Net trading gains result from changes in the fair value of diversified investment securities held in a grantor trust under deferred compensation agreements and are substantially offset by nonqualified plan expense for each period presented.

Fee-based revenues of $26.0 million for the second quarter of 2013 remained strong and were consistent with the first quarter of 2013. Excluding mortgage banking income, fee-based revenues increased by 4.9%, driven by growth in wealth management fees from new customer relationships and a rise in service charges on business accounts. In addition, higher card-based fees and merchant fees resulting from increased transaction volumes from seasonal customer activities contributed to the growth. Total fee-based revenues were impacted by a decrease in gains on mortgage loans sales. While new mortgage loan volume was consistent with the prior quarter, mortgage loan sales totaled $28.0 million in the second quarter of 2013 compared to $54.0 million in the first quarter of 2013, impacted by market conditions and timing.

Compared to the second quarter of 2012, total fee-based revenues for the second quarter of 2013 increased 10.0%, primarily from growth in wealth management fees across all service offerings, gains on mortgage loan sales, and fee income generated by derivative transactions.

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Noninterest Expense Analysis

(Dollar amounts in thousands)

N/M — Not meaningful.

Total noninterest expense for the second quarter of 2013 decreased nearly 4% compared to the first quarter of 2013 and increased by 2% compared to the second quarter of 2012.

The decrease in salaries and wages compared to the first quarter of 2013 was driven primarily from a reduction in severance-related costs and higher levels of deferred salaries from new loan growth. Salaries and wages in the second quarter of 2013 were higher than the second quarter of 2012 due to annual merit and incentive compensation increases, severance expense, and a reduction in deferred salaries.

Compared to the first quarter of 2013, retirement and other employee benefits decreased primarily as a result of revised retirement expense estimates and a decrease in FICA taxes and insurance costs.

OREO expenses decreased compared to both prior periods presented mainly from a reduction in valuation adjustments.  In addition, net gains on sales of OREO properties were realized in the second quarter of 2013 compared to net losses on sales during both prior periods.

Loan remediation costs increased from the first quarter of 2013 due to higher legal expenses and real estate taxes paid to preserve the Company’s rights to collateral associated with problem loans. Compared to the second quarter of 2012, loan

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remediation costs decreased almost 30% as a result of improved credit quality driven by management’s accelerated credit remediation actions in the third and fourth quarters of 2012, including the bulk loan sales. These actions resulted in lower legal expense.

Advertising and promotions expense rose in the second quarter of 2013 compared to both prior periods presented due to the launch of our “Bank with Momentum” branding campaign.

Adjusted amortization of the FDIC indemnification asset results from changes in the timing and amount of future cash flows expected to be received from the FDIC under loss sharing agreements based on management’s periodic estimates of future cash flows on covered loans.

A $500,000 reduction in the reserve for unfunded commitments in the first quarter of 2013 resulted in lower other expenses compared to the second quarter of 2013.

LOAN PORTFOLIO AND ASSET QUALITY

Loan Portfolio Composition

(Dollar amounts in thousands)

Total loans, excluding covered loans, of $5.3 billion grew by $112.3 million from March 31, 2013. During the second quarter of 2013, the Company experienced annualized growth of approximately 20% in commercial and industrial (“C&I”) loans and agricultural lending, 11% in multi-family loans, and 43% in 1-4 family mortgages, which was offset by declines in the construction, office, retail, and industrial portfolios. This balanced growth continues to reflect the targeted repositioning of the loan portfolio. New mortgage loan volume was consistent with the prior quarter, and reflects the sale of $28.0 million of mortgage loans, of which $16.5 million was outstanding at March 31, 2013.

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Compared to June 30, 2012, total loans, excluding covered loans, increased nearly 3% after adjusting for the impact of the 2012 bulk loan sales. In addition to growth in C&I loans and agricultural lending, the year-over-year increase was impacted by a rise in the 1-4 family mortgage portfolio from new volume and loans acquired in an FDIC-assisted transaction during the third quarter of 2012.

Compared to both prior periods presented, strong growth in the C&I and agricultural loan categories advanced our targeted portfolio distribution efforts. In addition, sales personnel have been focused on expansion into specialized lending areas, such as agribusiness and asset-based lending, which contributed to the increases. Overall, the loan portfolio benefited from well balanced growth reflecting credits of varying size and diverse geographic locations.

Asset Quality

(Dollar amounts in thousands)

N/M — Not meaningful.

Non-performing loans, excluding covered loans and covered OREO, decreased by $7.9 million from March 31, 2013, to $93.0 million at June 30, 2013. Excluding covered loans and covered OREO, non-performing assets were $140.8 million at

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June 30, 2013 compared to $143.5 million at March 31, 2013. During the quarter, management restructured $2.1 million of loans at market rates and terms and reclassified $4.0 million of non-accruing TDRs to accruing TDR status based on the continued performance of these loans.

Compared to June 30, 2012, the significant decline in non-performing assets, excluding covered loans and covered OREO, and total potential problem loans resulted from management’s accelerated credit remediation activities, including the bulk loan sales completed during 2012.

Charge-Off Data

(Dollar amounts in thousands)

(1) Amounts represent charge-offs, net of recoveries.

Net loan charge-offs, excluding net covered loan charge-offs, for the second quarter of 2013 were consistent with the first quarter of 2013. The increase in total net charge-offs compared to the first quarter of 2013 was primarily related to higher charge-offs of covered loans following management’s periodic re-estimation of cash flows. Net charge-offs declined 60% compared to the second quarter of 2012 reflecting improved credit quality driven by management’s accelerated credit remediation actions in 2012.

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CAPITAL MANAGEMENT

Capital Ratios

(Dollar amounts in thousands)

(1)       Ratio is not subject to formal Federal Reserve regulatory guidance.

(2)       Tangible common equity (“TCE”) represents common stockholders’ equity less goodwill and identifiable intangible assets. In management’s view, Tier 1 common and TCE measures are meaningful to the Company, as well as analysts and investors, in assessing the Company’s use of equity and in facilitating comparisons with competitors.

The Company’s regulatory ratios exceeded all regulatory mandated ratios for characterization as “well-capitalized” as of June 30, 2013. The Board of Directors reviews the Company’s capital plan each quarter, giving consideration to the current and expected operating environment as well as an evaluation of various capital alternatives.

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About the Company

First Midwest is the premier relationship-based banking franchise in the dynamic Chicagoland banking market. As one of the Chicago metropolitan area’s largest independent bank holding companies, First Midwest provides the full range of business and retail banking and wealth management services through approximately 90 offices located in communities in metropolitan Chicago, northwest Indiana, central and western Illinois, and eastern Iowa. First Midwest has been recognized by the Chicago Tribune as one of Chicago’s Top Workplaces for the third consecutive year by being named a National Standard Top Workplace. Additionally, Forbes has recognized First Midwest as one of America’s Most Trustworthy Companies for 2012.

Safe Harbor Statement

This press release may contain “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are not historical facts but instead represent only the Company’s beliefs regarding future events, many of which, by their nature, are inherently uncertain and outside of the Company’s control. It is possible that actual results and the Company’s financial condition may differ, possibly materially, from the anticipated results and financial condition indicated in these forward-looking statements. For a discussion of some of the risks and important factors that could affect the Company’s future results, see “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2012 and other reports filed with the Securities and Exchange Commission. Forward-looking statements represent management’s best judgment as of the date hereof based on currently available information. The Company undertakes no duty to update any forward-looking statements contained in this press release after the date hereof.

Conference Call

A conference call to discuss the Company’s results, outlook, and related matters will be held on Wednesday, July 24, 2013 at 10:00 AM (ET). Members of the public who would like to listen to the conference call should dial (888) 317-6016 (U.S. domestic) or (412) 317-6016 (international) and ask for the First Midwest Bancorp, Inc. Earnings Conference Call. The number should be dialed 10 to 15 minutes prior to the start of the conference call. There is no charge to access the call. The conference call will also be accessible as an audio webcast through the Investor Relations section of the Company’s website, www.firstmidwest.com/investorrelations. For those unable to listen to the live broadcast, a replay will be available on the Company’s website or by dialing (877) 344-7529 (U.S. domestic) or (412) 317-0088 (international) conference I.D. 10030586 beginning one hour after completion of the live call until 9:00 A.M. (ET) on July 31, 2013. Please direct any questions regarding obtaining access to the conference call to First Midwest Bancorp, Inc. Investor Relations, via e-mail, at investor.relations@firstmidwest.com.

Accompanying Financial Statements and Tables

Accompanying this press release is the following unaudited financial information:

·                  Condensed Consolidated Statements of Financial Condition

·                  Condensed Consolidated Statements of Income

Press Release and Additional Information Available on Website

This press release, the accompanying financial statements and tables, and certain additional unaudited Selected Financial Information are available through the “Investor Relations” section of First Midwest’s website at www.firstmidwest.com/investorrelations.

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Condensed Consolidated Statements of Financial Condition

Unaudited

(Amounts in thousands)