Midwest Banc Holdings Inc. expected to Report Fiscal Year 2009 Results on January 25, 2010. This event was calculated by Capital IQ (Created on November 3, 2009).

Midwest Banc Holdings Inc. is in violation of covenants under its revolving line of credit and term note and the related loan documents relating to the level of nonperforming loans and the failure to report a quarterly profit, as of June 30, 2009; did not make a required $5.0 million principal payment due on July 1, 2009 under the covenant waiver for the third quarter of 2008, for which the company was advised by its lender that such noncompliance constituted a continuing event of default; and did not pay the lender all of the aggregate outstanding principal on the revolving line of credit at its maturity date of July 3, 2009, which constituted an additional event of default under the Credit Agreements. In addition, the company did not make a required $5.0 million principal payment due on October 1, 2009. On October 22, 2009, the company entered into a Forbearance Agreement with its lender. The lender has agreed to forbear from exercising the rights and remedies available to it under the Credit Agreements (other than the continued imposition of the default rates of interest) for a period commencing on July 3, 2009 and ending on the first to occur of: (a) March 31, 2010; (b) the date on which the company breaches or defaults in any of its representations, warranties or obligations to the lender under the Forbearance Agreement; (c) the date on which the company defaults in complying with any of its continuing obligations under the Credit Agreements (except that, the company shall not be obligated to comply with certain financial and regulatory covenants contained in the Credit Agreements); and (d) the date on which Midwest Bank becomes subject to a receivership by the Federal Deposit Insurance Corporation, or the date on which the company becomes subject to a bankruptcy or insolvency type proceeding.

Midwest Banc Holdings Inc. reported earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported net interest income of $15,942,000, loss before income taxes of $40,301,000, loss income available to common shareholders of $42,556,000 or $1.52 basic and diluted per share on total interest income of $35,135,000 as compared to net interest income of $22,153,000, loss before income taxes of $183,605,000, loss income available to common shareholders of $160,550,000 or $5.76 basic and diluted per share on total interest income of $45,888,000 for the same period last year. Book value per share was $2.02 and tangible book vale per share was $3.45 as compared to book value per share was $5.89 and tangible book vale per share was $2.50 for the same period last year. Negative return on average assets was 4.49% and negative return on average equity was 78.30% as compared to negative return on average assets was 17.25% and negative return on average equity was 181.60% for the same period last year. For nine months, the company reported net interest income of $58,099,000, loss before income taxes of $67,437,000, loss income available to common shareholders of $127,756,000 or $4.57 basic and diluted per share on total interest income of $118,063,000 as compared to net interest income of $67,134,000, loss before income taxes of $191,232,000, loss income available to common shareholders of $165,209,000 or $5.93 basic and diluted per share on total interest income of $143,927,000 for the same period last year. Negative return on average assets was 4.50% as compared to 5.90% for the same period last year. Negative return on average equity was 61.15% as compared to 58.64% for the same period last year.