First Midwest completes Arlington Heights deal

First Midwest Bancorp, Itasca, Ill., has completed its acquisition of The Peoples' Bank of Arlington Heights, Ill..The deal, announced in September, included two branches in the Chicago suburb of Arlington Heights as well as $110 million in assets, $95 million in deposits and $57 million in loans..Frank Appleby, president of Peoples' Bank at the time of the merger, is now senior vice president of First Midwest with primary responsibility for First Midwest's northwest Cook and northern DuPage County markets.."We extend a warm welcome to the customers and employees of Peoples' Bank," said Michael Scudder, president and CEO of the $9.8 billion First Midwest. "This transaction also continues our drive to move further into the desirable Arlington Heights and northwest suburban Chicago markets."