First Midwest Bancorp, Inc. recently announced the election of Michael L. Scudder, president and chief executive officer, as chairman of the board. The parent company for First Midwest Bank also announced J. Stephen Vanderwoude as lead independent director. The appointments took effect Nov. 14, following Robert P. O’Meara’s decision to retire as board chairman. O’Meara has been named chairman emeritus and will continue to serve as a director.
First Midwest, with locations in the Quad-Cities, also announced a quarterly cash dividend of $0.10 per share on common stock. The board of directors approved the dividend which will be payable on Jan. 9, 2018, to shareholders of record by close of business Dec. 22. The dividend is the 140th consecutive cash dividend paid since 1983 when First Midwest was founded.