Painters union creates 2 grants

AURORA — Painters District Council No. 30 has created two grants that will be awarded to qualifying North Central Illinois community organizations. The first is a $10,000 cash grant through the Painters and Allied Trades for Children’s Hope Foundation. Any organization seeking financial assistance to develop a program that will affect positive change and address a specific, documented need for children in the community can apply for the PATCH Foundation cash grant. The second is a community service grant, which awards organizations with skilled volunteers for a renovation project involving painting, drywall finishing or glazing. Any nonprofit organization in need of skilled volunteers and materials to complete a renovation or expansion project can apply. Applications will be accepted until March 31. To apply for either grant, visit pdc30.com/grant and complete the appropriate quick form. Winners of both the PATCH and community service grants will be announced in the spring of 2017.

Bank’s 4Q income up 10 percent

ITASCA — First Midwest Bancorp said fourth quarter 2016 income increased 10 percent over the same period the previous year buoyed by recent acquisitions. The holding company of First Midwest Bank reported net income for the fourth quarter of 2016 was $20.7 million, or 25 cents per share, compared to $28.4 million, or 35 cents per share, for the third quarter of 2016, and $16.3 million, or 21 cents per share, for the fourth quarter of 2015. For 2016, earnings per share grew to $1.14, up 9 percent from 2015, while increased fee-based revenues increased 14 percent over the previous year and average core deposits increased 11 percent from 2015.

O’Dell to lead trade group

CRYSTAL LAKE — Baxter & Woodman announced engineer Sean E. O’Dell was elected 2017 President of the Chicago Metro Chapter of the American Public Works Association. Under O’Dell’s leadership, the organization will provide members with educational and leadership opportunities while increasing awareness of the vital role of public works in everyday life, supporting causes to advance the profession, and providing a forum for the exchange of ideas, knowledge and information. O’Dell has been actively involved APWA since 2008. O’Dell was also selected as a 2015 recipient of the APWA National Young Leader Award. O’Dell joined Baxter & Woodman in 2002 and currently serves as vice president of Civic Innovation and Infrastructure.

ITW 4Q revenues up 4 percent

GLENVIEW — Illinois Tool Works reported fourth-quarter 2016 total revenue was up 4 percent from the previous year’s period. Revenue for the global manufacturer was $3.4 billion, with organic growth at 2 percent. For the year, total revenue was $13.6 billion, an increase of 1 percent, with organic growth was 1 percent. “In 2016, we grew earnings per share 11 percent, improved operating margin by 110 basis points to an all-time high of 22.5 percent and increased after tax return on invested capital 170 basis points to a record 22.1 percent.” said E. Scott Santi, chairman and chief executive officer. Operating income was $742 million and operating margin for the quarter was 21.8 percent, an increase of 110 basis points year-on-year.