First Midwest Bank

First Midwest Bank merged with Old National Bancorp in 2022. The combined entity now operates all wealth management, trust, and private banking services through the Old National brand. Client accounts are custodied on LPL Financial's platform and accessed via Client Point or LPL's WealthVision. Old National does not break out legacy First Midwest AUM or client counts separately in its public reporting, so the division's scale is not independently observable.

No. First Midwest Bank was a publicly traded regional bank holding company — not a family office — and it ceased to exist as an independent entity after the 2022 merger with Old National Bancorp. The surviving entity, Old National Bank, operates a traditional community-bank model across eight Midwestern states. There is no separate SFO, MFO, or internal private-investment fund structure operating under the legacy First Midwest charter.

There is no evidence from public filings or the firm's website that the bank operates a third-party alternatives platform. The wealth management business is structured around retail brokerage, trust services and financial planning via LPL Financial. The parent bank's balance sheet is a traditional portfolio of loans, securities and interest-bearing cash — typical of a regional bank, not an institutional alternative-investment manager.

The firm does not publicly identify a named CIO or head of investment strategy for the wealth management division. User-facing client portals are branded under LPL Financial. Old National's most recent proxy statements and investor materials list executive-level leadership for banking and treasury operations, but not a dedicated investment-policy lead for wealth assets.

The combined Old National balance sheet prioritizes three lending sectors tied directly to its Midwestern geography: commercial real estate, middle-market commercial and industrial loans, and residential mortgages. In March 2026 the bank was marketing introductory-rate HELOCs tied to Wall Street Journal prime, underscoring its ongoing appetite for prime residential credit.