MB Reinvests in its Communities and Employees

CHICAGO, Dec. 28, 2017 -- MB Financial, Inc. (NASDAQ:MBFI), the holding company for MB Financial Bank, N.A. (“MB”), announced today that MB will raise the minimum wage paid to its employees, issue certain one-time bonuses, and donate $7.5 million to the disadvantaged communities in which it operates.

Mitch Feiger, President and CEO MB Financial, Inc., commented, “MB has long believed that our future is undeniably connected to our communities and employees.  Because we hold this belief so closely it is only natural that we share the benefits of tax reform.”

As a result of the recently enacted Tax Cuts and Jobs Act of 2017 MB will contribute $7.5 million to the MB Charitable Foundation, specifically to help the most disadvantaged communities where MB operates for the creation of affordable housing, strong educational programs, vital community services, and to accelerate economic development.   “Giving is a cornerstone of our culture,” said Rose Bouman, Executive Vice President of MB Financial Bank. “Our programs such as ‘MB on the Block’, wherein over 500 MB employees dedicate a day of service to the community each year, are at the heart of who we are.”

Also as a result of the new tax legislation, MB will raise its minimum wage to $15 per hour and pay certain one-time bonuses.  It’s expected that nearly 75% of MB’s approximately 3,600 team members across the country will participate in these new compensation measures.  “Our employees are truly different.  Their passion sets them apart. It’s no wonder they go beyond every day for our clients, our communities, and each other.  I’m thrilled we can pass along the benefits of tax reform to them,” commented Feiger.

The Tax Cuts and Jobs Act of 2017, among other changes, reduces the Federal corporate income tax rate from 35% to 21% effective January 1, 2018.  MB Financial, Inc. currently estimates that as a result of the new tax legislation and the requirement to revalue its net deferred tax liability, it may recognize in the fourth quarter of 2017 a one-time tax benefit of at least $85 million, or approximately $1.00 per diluted common share.  This one-time tax benefit will further strengthen our capital position and ratios. 

MB Financial, Inc. (Nasdaq:MBFI) is the Chicago-based holding company for MB Financial Bank, N.A. (“MB”) which has approximately $20 billion in assets and a more than one hundred year history of building deep and lasting relationships with middle-market companies and individuals.  MB offers a full range of powerful financial solutions and the expertise and experience of bankers who are focused on their clients’ success.  Learn more about MB by visiting www.mbfinancial.com.

Safe Harbor Statement: Statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. By their nature, such statements are subject to numerous factors that could cause actual results to differ materially from those anticipated in the statements, as discussed in MB Financial’s filings with the Securities and Exchange Commission.  You should not place undue reliance on any forward-looking statements, and we undertake no obligation to update any such statements to reflect circumstances or events that occur after the date on which the forward-looking statement is made.

For Information at MB Financial, Inc. contact:
Berry Allen - Investor Relations
E-Mail: [email protected]