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First Midwest to restructure commercial banking group

The parent of First Midwest Bank plans to restructure its commercial banking group into four units this spring after the retirement of Victor P. Carapella, executive vice president and director of commercial banking.

Carapella intends to retire March 31 after 27 years with the company, First Midwest Bancorp announced Monday.

“Vic had a highly distinguished career at First Midwest and made numerous lasting contributions to our success,” said Michael L. Scudder, president and CEO of First Midwest Bancorp. “He has built an outstanding and experienced team and, because of his leadership, our Commercial Banking group is well-poised for continued growth.”

The commercial banking group will be split into four units led by executive vice presidents, who will report to bank president Mark G. Sander. Dean R. Glassberg will oversee middle market banking; S. Michael McCracken will handle business banking; Marc R. Parise will lead commercial real estate and equipment leasing; and David M. Knapp will oversee the specialty banking unit.

Itasca-based First Midwest has about $9.6 billion in assets.