First Midwest Bancorp Inc., the holding company of First Midwest Bank, said it is increasing its minimum wage and contributing more to charity.
The Itasca-based company said it will increase its minimum pay rate to $15 for hourly employees and provide bonuses up to $1,035 to nearly 85 percent of workers. It will also contribute $2 million to the First Midwest Charitable Foundation.
"As we celebrate 35 years as First Midwest, our continuing investment in our colleagues, communities and business stands at the core of our success. I am therefore very pleased to take these important actions," said Michael L. Scudder, chairman and CEO of First Midwest.
"The growth of our company as well as the expected benefits from tax reform position us to reward our colleagues for their commitment and hard work as well as expand our investment in the communities in which we live and work," he said.