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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="center" style="font-size: 10pt; margin-top: 6pt">As
filed with the Securities and Exchange Commission on March 16, 2006<BR>
Registration No.&nbsp;333-</DIV>


<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>WASHINGTON, D.C. 20549<BR>
<DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>Form&nbsp;S-8</B>
</DIV>

<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>Registration Statement<BR>
Under<BR>
The Securities Act of 1933</B><BR>
<DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>Midwest Banc Holdings, Inc.</B>
</DIV>

<DIV align="center" style="font-size: 10pt">(Exact name of registrant as specified in its charter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="center"><B>DELAWARE</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>36-3252484</B></TD>
</TR>

<!-- End Table Head -->
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<TR valign="bottom">
    <TD align="center" valign="top">(State or Other Jurisdiction of Incorporation or<BR>
Organization)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(I.R.S. Employer Identification No.)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>501 West North Avenue<BR>
Melrose Park, Illinois 60160</B><BR>
(Address, including zip code of registrant&#146;s principal executive office)<BR>
<DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Midwest Banc Holdings, Inc.<BR>
Directors&#146; Deferred Compensation Plan</B><BR>
(Full title of the plan)<BR>
<DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Daniel R. Kadolph<BR>
Senior Vice President And Chief Financial Officer<BR>
Midwest Banc Holdings, Inc.<BR>
501 West North Avenue<BR>
Melrose Park, Illinois 60160<BR>
(708)&nbsp;450-6759</B><BR>
(Name, address and telephone number, including area code, of agent for service)</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Copies To:<BR>
Timothy M. Sullivan<BR>
Hinshaw &#038; Culbertson LLP<BR>
222 N. LaSalle Street, Suite&nbsp;300<BR>
Chicago, Illinois 60601<BR>
(312)&nbsp;704-3000</B><BR>
<DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>CALCULATION OF REGISTRATION FEE</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="52%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Proposed maximum</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Proposed maximum</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Amount to</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>offering price</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>aggregate offering</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Amount of</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Title Of Securities To Be Registered</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>be registered(</B><SUP style="font-size: 85%; vertical-align: text-top"><B>1</B></SUP><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>per share</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>price</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>registration fee</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Directors&#146; Deferred Compensation Plan</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Common Stock, par value $0.01 per share</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right" style="border-bottom: 1px solid #000000" >50,000</TD>
    <TD nowrap>(1)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right" style="border-bottom: 1px solid #000000">25.21</TD>
    <TD nowrap>(2)</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>

<TD align="right" style="border-bottom: 1px solid #000000">1,260,500</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right" style="border-bottom: 1px solid #000000">134.87</TD>
    <TD nowrap>(2)</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Deferred Compensation Obligations (3)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>

<TD align="right" style="border-bottom: 1px solid #000000">1,000,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right" style="border-bottom: 1px solid #000000">N/A</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>

<TD align="right" style="border-bottom: 1px solid #000000">1,000,000</TD>
    <TD nowrap>(4)</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right" style="border-bottom: 1px solid #000000">107.00</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="17" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 12pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">(1)</TD>
    <TD>&nbsp;</TD>
    <TD>Together with an indeterminate number of additional shares which may
be necessary to adjust the number of shares reserved for issuance
pursuant to the Directors&#146; Deferred Compensation Plan (the &#147;Plan&#148;) as
the result of further stock splits, stock dividends or similar
adjustments of the outstanding Common Stock pursuant to Rule&nbsp;416(a).</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(2)</TD>
    <TD>&nbsp;</TD>
    <TD>Pursuant to Rule&nbsp;457(h)(1) under the Securities Act of 1933, as
amended, the proposed maximum offering price per share and the
registration fee have been estimated based on the average of the high
and low sales prices for the Common Stock as reported by the Nasdaq
National Market on March 15, 2006</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(3)</TD>
    <TD>&nbsp;</TD>
    <TD>The Deferred Compensation Obligations are unsecured obligations of
Midwest Banc Holdings, Inc. to pay deferred compensation in the future
in accordance with the terms of the Plan.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(4)</TD>
    <TD>&nbsp;</TD>
    <TD>Estimated solely for the purpose of determining the registration fee.</TD>
</TR>

</TABLE>



<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>
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<DIV style="font-family: 'Times New Roman',Times,serif">

<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

<P><CENTER>
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<TR>
	<TD width="3%"></TD>
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</TR>
<TR><TD colspan="9"><A HREF="#000"> PART I</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#001">Item&nbsp;1. Plan Information</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#002">Item&nbsp;2. Registrant Information and Employee Plan Information</A></TD></TR>
<TR><TD colspan="9"><A HREF="#003"> PART II</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#004">Item&nbsp;3. Incorporation of Documents by Reference</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#005">Item&nbsp;4. Description of Securities</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#006">Item&nbsp;5. Interests of Named Experts and Counsel</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#007">Item&nbsp;6. Indemnification of Directors and Officers</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#008">Item&nbsp;7. Exemption From Registration Claimed</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#009">Item&nbsp;8. Exhibits</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#010">Item&nbsp;9. Undertakings</A></TD></TR>
<TR><TD colspan="9"><A HREF="#011"> SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#012"> INDEX TO EXHIBITS</A></TD></TR>
<TR><TD colspan="9"><A HREF="c03466exv5w1.htm">Opinion of Hinshaw & Culbertson, LLP</A></TD></TR>
<TR><TD colspan="9"><A HREF="c03466exv23w1.htm">Consent of PricewaterhouseCoopers LLP</A></TD></TR>
<TR><TD colspan="9"><A HREF="c03466exv23w2.htm">Consent of McGladrey & Pullen LLP</A></TD></TR>
</TABLE>
</CENTER>
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<!-- link1 " PART I " -->
<DIV align="left"><A NAME="000"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART I</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Registration Statement relates to the registration of 50,000 shares of Common Stock, $.01
par value per share, of Midwest Banc Holdings, Inc., reserved for issuance and delivery under the
Midwest Banc Holdings, Inc. Directors&#146; Deferred Compensation Plan (the &#147;Plan&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Registration Statement also covers the Deferred Compensation Obligations of the
Registrant to pay deferred compensation in shares of Common Stock or cash in accordance with the
terms of the Plan.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Note: The documents containing the information required by this section will be given to
those persons who participate in the Midwest Banc Holdings, Inc. Directors&#146; Deferred Compensation
Plan, all of whom are directors of Midwest Banc Holdings, Inc. or its subsidiary (Midwest Bank and
Trust Company) who are entitled to Board compensation. Such documents are not required to be filed
with the Commission as a part of this Registration Statement or as an Exhibit.
</DIV>
<!-- link2 "Item&nbsp;1. Plan Information" -->
<DIV align="left"><A NAME="001"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;1. Plan Information.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not required to be filed with this Registration Statement.
</DIV>
<!-- link2 "Item&nbsp;2. Registrant Information and Employee Plan Information" -->
<DIV align="left"><A NAME="002"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;2. Registrant Information and Employee Plan Information.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not required to be filed with this Registration Statement.
</DIV>
<!-- link1 " PART II" -->
<DIV align="left"><A NAME="003"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART II</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B>
</DIV>

<!-- link2 "Item&nbsp;3. Incorporation of Documents by Reference" -->
<DIV align="left"><A NAME="004"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;3. Incorporation of Documents by Reference.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following documents filed with the Commission by Midwest Banc Holdings, Inc., a Delaware
corporation (&#147;Midwest&#148;), are incorporated, as of their respective dates, in this Registration
Statement by reference (except items 2.02 and 7.01 of any Current Report on Form 8-K listed below):
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Annual Report on Form 10-K for the year ended December&nbsp;31, 2005;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Current Reports on Form 8-K filed with the SEC on January&nbsp;4, 2006,
January&nbsp;26, 2006, February&nbsp;8, 2006, March&nbsp;1, 2006 and March&nbsp;6, 2006;
and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The description of our Common Stock contained in our Registration
Statement on Form S-1 dated December&nbsp;19, 1997.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All documents filed by the Midwest pursuant to Sections&nbsp;13(a), 13(c), 14 and 15(d) of the
Exchange Act after the filing of this Registration Statement and prior to the filing of a
post-effective amendment which indicates that all securities offered have been sold or which
deregisters all securities then remaining unsold are incorporated by reference in this Registration
Statement and are a part hereof from the date of filing such documents (except Items 2.02 and 7.01
of any Current Report on Form 8-K). Any statement contained in a document incorporated or deemed to
be incorporated by reference herein shall be deemed to be modified or superseded for purposes of
this Registration Statement to the extent that a statement contained herein or in any other
subsequently filed document which also is or is deemed to be incorporated by reference herein
modifies or supersedes such statement. Any such statement so modified or superseded shall not be
deemed, except as so modified or superseded, to constitute a part of this Registration Statement.
</DIV>

<P align="center" style="font-size: 10pt">2
</DIV>

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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<!-- link2 "Item&nbsp;4. Description of Securities" -->
<DIV align="left"><A NAME="005"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;4. Description of Securities.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Registrant&#146;s Common Stock is registered under Section 12(g) of the Securities Exchange Act of
1934, as amended. Under the Plan, eligible directors of the Registrant and one of its
subsidiaries, Midwest Bank and Trust Company, will have the opportunity to defer a specified
percentage of their director&#146;s fees. The obligations of the Registrant and its subsidiary to pay
deferred compensation in the future in accordance with the terms of the Plan (the &#147;Obligations&#148;)
will be unsecured general obligations of the Registrant and will rank pari passu with other
unsecured and unsubordinated indebtedness of the Registrant from time to time outstanding.
However, because the Registrant is a holding company, the right of the Registrant, and hence the
right of creditors of the Registrant (including participants in the Plan), to participate in any
distribution of the assets of any subsidiary upon its liquidation or reorganization or otherwise is
necessarily subject to the prior claims of creditors of the subsidiary, except to the extent that
claims of the Registrant itself as a creditor of the subsidiary may be recognized. In addition,
the ability of the Registrant&#146;s bank subsidiary to pay dividends to the Registrant may be
restricted by bank regulatory requirements.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following summary of the Obligations does not purport to be complete and is subject to,
and is qualified in its entirety by reference to, all provisions of the Plan, including the
definitions therein of certain terms. A copy of the Plan has been incorporated by reference into
this Registration Statement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The amount of compensation to be deferred by each participating director (each a
&#147;Participant,&#148; and collectively, the &#147;Participants&#148;) will be determined in accordance with the Plan
based on elections by the Participants. The Obligations under the Plan are payable in accordance
with the terms of the Plan. Obligations will accrue &#147;interest&#148; as prescribed and to be credited
under the terms of the Plan. Each Participant&#146;s Obligation will be adjusted to reflect the
investment experience of the applicable benchmark, including any appreciation or depreciation.
Each Participant will be fully vested in the Obligations.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A Participant&#146;s right or the right of any other person to the Obligations cannot be assigned,
alienated, sold, garnished, transferred, pledged, or encumbered except by a written designation of
a beneficiary under the Plan or by laws of descent and distribution.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant reserves the right to amend or terminate the Plan at any time, except that no
such amendment or termination shall adversely affect the right of any Participant to the balance of
his or her deferred account as of the date of such amendment or termination.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Obligations will not have the benefit of a negative pledge or any other affirmative or
negative covenant on the part of the Registrant. No trustee has been appointed having the
authority to take action with respect to the Obligations regarding the giving of notices,
responding to any requests for consents, waivers or amendments pertaining to the Obligations,
enforcing covenants or taking action upon a default, and, accordingly, each Participant will be
responsible for acting independently with respect thereto.
</DIV>
<!-- link2 "Item&nbsp;5. Interests of Named Experts and Counsel" -->
<DIV align="left"><A NAME="006"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;5. Interests of Named Experts and Counsel.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</DIV>
<!-- link2 "Item&nbsp;6. Indemnification of Directors and Officers" -->
<DIV align="left"><A NAME="007"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;6. Indemnification of Directors and Officers.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Midwest&#146;s Amended and Restated Certificate of Incorporation (the &#147;Certificate&#148;) and its
Amended and Restated By-laws (the &#147;By-laws&#148;) provide for indemnification of Midwest&#146;s directors,
officers, employees and other agents to the fullest extent not prohibited by Delaware law.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Midwest&#146;s Certificate is consistent with Section&nbsp;102(b)(7) of the Delaware General Corporation
Law (&#147;DGCL&#148;), which generally permits a company to include a provision limiting the personal
liability of a director in the company&#146;s restated certificate of incorporation. With limitations,
this provision eliminates the personal liability of Midwest&#146;s directors to Midwest or its
stockholders for monetary damages for breach of fiduciary duty as a director. However, this
provision does not eliminate director liability: (1)&nbsp;for breaches of the duty of loyalty to Midwest
and
</DIV>

<P align="center" style="font-size: 10pt">3
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">its stockholders; (2)&nbsp;for acts or omissions not in good faith or which involve intentional
misconduct or a knowing violation of law; (3)&nbsp;for transactions from which a director derives
improper personal benefit; or (4)&nbsp;under Section&nbsp;174 of the Delaware General Corporation Law
(&#147;Section&nbsp;174&#148;). Section&nbsp;174 makes directors personally liable for unlawful dividends and stock
repurchases or redemptions and expressly sets forth a negligence standard with respect to such
liability. While this provision protects the directors from awards for monetary damages for
breaches of their duty of care, it does not eliminate their duty of care. The limitations in this
provision have no effect on claims arising under the federal securities laws.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Article&nbsp;VIII of Midwest&#146;s By-laws provide that:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;The Corporation shall indemnify, to the full extent that it shall have the power under the
DGCL to do so and in a manner permitted by such law, any person made or threatened to be made a
party to any threatened, pending or completed action, suit or proceeding, whether civil,
criminal, administrative or investigative, by reason of the fact that he is or was a director,
officer, employee or agent of the Corporation, or is or was serving at the request of the
Corporation as a director, officer, employee or agent of another corporation, partnership, joint
venture, trust or other enterprise against liabilities and expenses reasonably incurred or paid
by such person in connection with such action, suit or proceeding. The words &#147;liabilities&#148; and
&#147;expenses&#148; shall include, without limitations: liabilities, losses, damages, judgments, fines,
penalties, amounts paid in settlement, expenses, attorneys&#146; fees and costs. Expenses incurred in
defending a civil, criminal, administrative, investigative or other action, suit or proceeding
may be paid by the Corporation in advance of the final disposition of such action, suit or
proceeding in accordance with the provisions of Section&nbsp;145 of the DGCL, as amended.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;The indemnification and advancement of expenses provided by this By-law shall not be
deemed exclusive of any other rights to which any person indemnified may be entitled under any
by-law, statute, agreement, vote of stockholders, or disinterested directors or otherwise, both
as to action in his official capacity and as to action in another capacity while holding such
office, and shall continue as to a person who has ceased to be such director, officer, employee
or agent and shall inure to the benefit of the heirs, executors and administrators of such
person.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;The Corporation may purchase and maintain insurance on behalf of any person referred to in
the preceding paragraph against any liability asserted against him and incurred by him in any
such capacity, or arising out of his status as such, whether or not the Corporation would have
the power to indemnify him against such liability under the provisions of this By-law or
otherwise.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;For purposes of this By-law, reference to &#147;the Corporation&#148; shall include, in addition to
the resulting corporation, any constituent corporation (including any constituent of a
constituent) absorbed in a consolidation or merger which, if its separate existence had
continued, would have had power and authority to indemnify its directors, officers and employees
or agents, so that any person who is or was a director, officer, employee or agent of such
constituent corporation, or is or was serving at the request of such constituent corporation, as
director, officer, employee or agent of another corporation, partnership, joint venture, trust
or other enterprise, shall stand in the same position under the provisions of this By-law with
respect to the resulting or surviving corporation as he would have with respect to such
constituent corporation if its separate existence had continued.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;The provisions of this By-law shall be deemed to be a contract between the Corporation and
each director, officer, employee and agent who serves in any such capacity at any time while
this By-law and the relevant provisions of the DGCL, as amended, or other applicable law, if
any, are in effect, and any repeal or modification of any such law or of this By-law shall not
affect any rights or obligations then existing with respect to any state of facts then or
theretofore existing or any action, suit or proceeding theretofore or thereafter brought or
threatened based in whole or in part upon such state of facts.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;For purposes of this By-law, references to &#147;other enterprises&#148; shall include employee
benefit plans; references to &#147;fines&#148; shall include any excise taxes assessed on a person with
respect to any employee benefit plan; and references to &#147;serving at the request of the
corporation&#148; shall include any service as a director, officer, employee or agent of the
corporation which imposes duties on, or involves services by, such director, officer,
</DIV>

<P align="center" style="font-size: 10pt">4
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">employee or agent with respect to any employee benefit plan, its participants, or beneficiaries;
and a person who acted in good faith and in a manner he reasonably believed to be in the best
interest of the participants and beneficiaries of an employee benefit plan shall be deemed to
have acted in a manner not opposed to the best interests of the Corporation.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Midwest carries directors&#146; and officers&#146; liability insurance coverage which insures its
directors and officers and the directors and officers of its subsidiaries in certain circumstances.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under agreements which may be entered into by us, certain of our controlling persons,
directors and officers may be entitled to indemnification by underwriters and agents who
participate in the distribution of securities covered by the registration statement against certain
liabilities, including liabilities under the Securities Act of 1933.
</DIV>
<!-- link2 "Item&nbsp;7. Exemption From Registration Claimed" -->
<DIV align="left"><A NAME="008"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;7. Exemption From Registration Claimed.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</DIV>
<!-- link2 "Item&nbsp;8. Exhibits" -->
<DIV align="left"><A NAME="009"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;8. Exhibits.</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="94%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">The Midwest Banc Holdings, Inc. Directors&#146; Deferred Compensation Plan (incorporated
by reference from Midwest&#146;s current report on Form&nbsp;8-K filed with the Commission on
December&nbsp;16, 2005, File No.&nbsp;001-13735).</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">5.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of Hinshaw &#038; Culbertson, LLP regarding legality.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of PricewaterhouseCoopers LLP.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of McGladrey &#038; Pullen, LLP.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Hinshaw &#038; Culbertson LLP (included in Exhibit&nbsp;5.1).</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">24.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Power of Attorney (included on the signature pages of the Registration Statement).</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<!-- link2 "Item&nbsp;9. Undertakings" -->
<DIV align="left"><A NAME="010"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;9. Undertakings.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;The undersigned registrant hereby undertakes:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;To file, during any period in which offers or sales are being made, a post-effective
amendment to this Registration Statement to include any material information with respect to the
plan of distribution not previously disclosed in the Registration Statement or any material change
to such information in the Registration Statement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;That, for the purpose of determining any liability under the Securities Act of 1933, each
such post-effective amendment shall be deemed to be a new registration statement relating to the
securities offered therein, and the offering of such securities at that time shall be deemed to be
the initial bona fide offering thereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;To remove from registration by means of a post-effective amendment any of the securities
being registered which remain unsold at the termination of the offering.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The undersigned registrant hereby undertakes that, for purposes of determining any
liability under the Securities Act of 1933, each filing of the registrant&#146;s annual report pursuant
to Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934 that is incorporated by
reference in this Registration Statement shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities at that time shall
be deemed to be the initial bona fide offering thereof.
</DIV>

<P align="center" style="font-size: 10pt">5
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be
permitted to directors, officers and controlling persons of the registrant pursuant to the
foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the
Securities and Exchange Commission such indemnification is against public policy as expressed in
the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification
against such liabilities (other than the payment by the registrant of expenses incurred or paid by
a director, officer or controlling person of the registrant in the successful defense of any
action, suit or proceeding) is asserted by such director, officer or controlling person in
connection with the securities being registered, the registrant will, unless in the opinion of its
counsel the matter has been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is against policy as expressed in the
Securities Act and will be governed by the final adjudication of such issue.
</DIV>

<P align="center" style="font-size: 10pt">6
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<!-- link1 " SIGNATURES" -->
<DIV align="left"><A NAME="011"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, as amended, the registrant
certifies that it has reasonable grounds to believe that it meets all the requirements for filing
on Form S-8 and has duly caused this registration statement to be signed on its behalf by the
undersigned, thereunto duly authorized, in the city of Melrose Park, State of Illinois, on this
16th day of March, 2006.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">MIDWEST BANC HOLDINGS, INC.<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/  James J. Giancola
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">James J. Giancola&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">President and Chief Executive Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We, the undersigned officers and directors of Midwest Banc Holdings, Inc., and each of us, do
hereby constitute and appoint each and any of James J. Giancola and Daniel R. Kadolph, our true and
lawful attorney and agent, with full power of substitution and resubstitution, to do any and all
acts and things in our name and behalf in any and all capacities and to execute any and all
instruments for us in our names in any and all capacities, which attorney and agent may deem
necessary or advisable to enable said corporation to comply with the Securities Act of 1933, as
amended, and any rules, regulations, and requirements of the Securities and Exchange Commission, in
connection with this Registration Statement, including specifically, but without limitation, power
and authority to sign for us or any of us in our names in the capacities indicated below, any and
all amendments (including post-effective amendments) hereto; and we do hereby ratify and confirm
all that said attorney and agent, or his substitute, shall do or cause to be done by virtue
thereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has
been signed by the following persons in the capacities and on the dates indicated:
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="25%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="26%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="29%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>Signature</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Title</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Date</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ James J. Giancola
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director, President and Chief&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">James J. Giancola
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Executive Officer
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">March&nbsp;16, 2006</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Daniel R. Kadolph
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Senior Vice President,&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Daniel R. Kadolph
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chief Financial Officer,
Comptroller and Treasurer
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">March&nbsp;16, 2006</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ E.V. Silveri
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chairman of the Board, Director&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">March&nbsp;16, 2006</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">E.V. Silveri</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Angelo A. DiPaolo
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">March&nbsp;16, 2006</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Angelo A. DiPaolo</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Barry I. Forrester
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">March&nbsp;16, 2006</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Barry I. Forrester</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Robert J. Genetski
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">March&nbsp;16, 2006</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Robert J. Genetski</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Gerald F. Hartley
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">March&nbsp;16, 2006</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Gerald F. Hartley</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR><TD align="left" valign="top">&nbsp;</TD></TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Homer J. Livingston, Jr.
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">March&nbsp;16, 2006</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Homer J. Livingston, Jr.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

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</DIV>


<P align="center" style="font-size: 10pt">7
</DIV>

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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="25%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="26%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="29%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>Signature</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Title</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Date</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Daniel Nagle
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">March&nbsp;16, 2006</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Daniel Nagle</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Joseph Rizza
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director&nbsp;
</TD>
    <TD>&nbsp;</TD>
     <TD align="center" valign="top">March&nbsp;16, 2006</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Joseph Rizza</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Robert D. Small
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director&nbsp;
</TD>
    <TD>&nbsp;</TD>
     <TD align="center" valign="top">March&nbsp;16, 2006</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Robert D. Small</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Kenneth Velo
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director&nbsp;
</TD>
    <TD>&nbsp;</TD>
     <TD align="center" valign="top">March&nbsp;16, 2006</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Kenneth Velo</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Leon Wolin
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director&nbsp;
</TD>
    <TD>&nbsp;</TD>
     <TD align="center" valign="top">March&nbsp;16, 2006</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Leon Wolin</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
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</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">8
</DIV>

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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<!-- link1 " INDEX TO EXHIBITS" -->
<DIV align="left"><A NAME="012"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>INDEX TO EXHIBITS</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="94%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>EXHIBIT</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>NUMBER</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>DESCRIPTION OF EXHIBIT</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">The Midwest Banc Holdings, Inc. Directors&#146; Deferred Compensation Plan
(incorporated by reference from Midwest&#146;s current report on Form&nbsp;8-K filed with
the Commission on December&nbsp;16, 2005, File No.&nbsp;001-13735).</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="right" valign="bottom"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="bottom"><DIV style="margin-left:0px; text-indent:-0px">5.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of Hinshaw &#038; Culbertson, LLP regarding legality.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="right" valign="bottom"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="bottom"><DIV style="margin-left:0px; text-indent:-0px">23.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of PricewaterhouseCoopers LLP.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="right" valign="bottom"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="bottom"><DIV style="margin-left:0px; text-indent:-0px">23.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of McGladrey &#038; Pullen LLP.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="right" valign="bottom"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="bottom"><DIV style="margin-left:0px; text-indent:-0px">23.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Hinshaw &#038; Culbertson LLP (included in Exhibit&nbsp;5.1).</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="right" valign="bottom"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="bottom"><DIV style="margin-left:0px; text-indent:-0px">24.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Power of Attorney (included on the signature pages of the Registration Statement).</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">9
</DIV>

</BODY>
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sv8
Table of Contents
As
filed with the Securities and Exchange Commission on March 16, 2006
Registration No. 333-
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Form S-8
Registration Statement
Under
The Securities Act of 1933
Midwest Banc Holdings, Inc.
(Exact name of registrant as specified in its charter)
DELAWARE
36-3252484
(State or Other Jurisdiction of Incorporation or
Organization)
(I.R.S. Employer Identification No.)
501 West North Avenue
Melrose Park, Illinois 60160
(Address, including zip code of registrant's principal executive office)
Midwest Banc Holdings, Inc.
Directors' Deferred Compensation Plan
(Full title of the plan)
Daniel R. Kadolph
Senior Vice President And Chief Financial Officer
Midwest Banc Holdings, Inc.
501 West North Avenue
Melrose Park, Illinois 60160
(708) 450-6759
(Name, address and telephone number, including area code, of agent for service)
Copies To:
Timothy M. Sullivan
Hinshaw & Culbertson LLP
222 N. LaSalle Street, Suite 300
Chicago, Illinois 60601
(312) 704-3000
CALCULATION OF REGISTRATION FEE
Proposed maximum
Proposed maximum
Amount to
offering price
aggregate offering
Amount of
Title Of Securities To Be Registered
be registered(
1
)
per share
price
registration fee
Directors' Deferred Compensation Plan
Common Stock, par value $0.01 per share
50,000
(1)
$
25.21
(2)
$
1,260,500
$
134.87
(2)
Deferred Compensation Obligations (3)
$
1,000,000
$
N/A
$
1,000,000
(4)
$
107.00
(1)
Together with an indeterminate number of additional shares which may
be necessary to adjust the number of shares reserved for issuance
pursuant to the Directors' Deferred Compensation Plan (the "Plan") as
the result of further stock splits, stock dividends or similar
adjustments of the outstanding Common Stock pursuant to Rule 416(a).
(2)
Pursuant to Rule 457(h)(1) under the Securities Act of 1933, as
amended, the proposed maximum offering price per share and the
registration fee have been estimated based on the average of the high
and low sales prices for the Common Stock as reported by the Nasdaq
National Market on March 15, 2006
(3)
The Deferred Compensation Obligations are unsecured obligations of
Midwest Banc Holdings, Inc. to pay deferred compensation in the future
in accordance with the terms of the Plan.
(4)
Estimated solely for the purpose of determining the registration fee.
TABLE OF CONTENTS
PART I
Item 1. Plan Information
Item 2. Registrant Information and Employee Plan Information
PART II
Item 3. Incorporation of Documents by Reference
Item 4. Description of Securities
Item 5. Interests of Named Experts and Counsel
Item 6. Indemnification of Directors and Officers
Item 7. Exemption From Registration Claimed
Item 8. Exhibits
Item 9. Undertakings
SIGNATURES
INDEX TO EXHIBITS
Opinion of Hinshaw & Culbertson, LLP
Consent of PricewaterhouseCoopers LLP
Consent of McGladrey & Pullen LLP
Table of Contents
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
This
Registration Statement relates to the registration of 50,000 shares of Common Stock, $.01
par value per share, of Midwest Banc Holdings, Inc., reserved for issuance and delivery under the
Midwest Banc Holdings, Inc. Directors' Deferred Compensation Plan (the "Plan").
This Registration Statement also covers the Deferred Compensation Obligations of the
Registrant to pay deferred compensation in shares of Common Stock or cash in accordance with the
terms of the Plan.
Note: The documents containing the information required by this section will be given to
those persons who participate in the Midwest Banc Holdings, Inc. Directors' Deferred Compensation
Plan, all of whom are directors of Midwest Banc Holdings, Inc. or its subsidiary (Midwest Bank and
Trust Company) who are entitled to Board compensation. Such documents are not required to be filed
with the Commission as a part of this Registration Statement or as an Exhibit.
Item 1. Plan Information.
Not required to be filed with this Registration Statement.
Item 2. Registrant Information and Employee Plan Information.
Not required to be filed with this Registration Statement.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
The following documents filed with the Commission by Midwest Banc Holdings, Inc., a Delaware
corporation ("Midwest"), are incorporated, as of their respective dates, in this Registration
Statement by reference (except items 2.02 and 7.01 of any Current Report on Form 8-K listed below):
•
Annual Report on Form 10-K for the year ended December 31, 2005;
•
Current Reports on Form 8-K filed with the SEC on January 4, 2006,
January 26, 2006, February 8, 2006, March 1, 2006 and March 6, 2006;
and
•
The description of our Common Stock contained in our Registration
Statement on Form S-1 dated December 19, 1997.
All documents filed by the Midwest pursuant to Sections 13(a), 13(c), 14 and 15(d) of the
Exchange Act after the filing of this Registration Statement and prior to the filing of a
post-effective amendment which indicates that all securities offered have been sold or which
deregisters all securities then remaining unsold are incorporated by reference in this Registration
Statement and are a part hereof from the date of filing such documents (except Items 2.02 and 7.01
of any Current Report on Form 8-K). Any statement contained in a document incorporated or deemed to
be incorporated by reference herein shall be deemed to be modified or superseded for purposes of
this Registration Statement to the extent that a statement contained herein or in any other
subsequently filed document which also is or is deemed to be incorporated by reference herein
modifies or supersedes such statement. Any such statement so modified or superseded shall not be
deemed, except as so modified or superseded, to constitute a part of this Registration Statement.
2
Table of Contents
Item 4. Description of Securities.
Registrant's Common Stock is registered under Section 12(g) of the Securities Exchange Act of
1934, as amended. Under the Plan, eligible directors of the Registrant and one of its
subsidiaries, Midwest Bank and Trust Company, will have the opportunity to defer a specified
percentage of their director's fees. The obligations of the Registrant and its subsidiary to pay
deferred compensation in the future in accordance with the terms of the Plan (the "Obligations")
will be unsecured general obligations of the Registrant and will rank pari passu with other
unsecured and unsubordinated indebtedness of the Registrant from time to time outstanding.
However, because the Registrant is a holding company, the right of the Registrant, and hence the
right of creditors of the Registrant (including participants in the Plan), to participate in any
distribution of the assets of any subsidiary upon its liquidation or reorganization or otherwise is
necessarily subject to the prior claims of creditors of the subsidiary, except to the extent that
claims of the Registrant itself as a creditor of the subsidiary may be recognized. In addition,
the ability of the Registrant's bank subsidiary to pay dividends to the Registrant may be
restricted by bank regulatory requirements.
The following summary of the Obligations does not purport to be complete and is subject to,
and is qualified in its entirety by reference to, all provisions of the Plan, including the
definitions therein of certain terms. A copy of the Plan has been incorporated by reference into
this Registration Statement.
The amount of compensation to be deferred by each participating director (each a
"Participant," and collectively, the "Participants") will be determined in accordance with the Plan
based on elections by the Participants. The Obligations under the Plan are payable in accordance
with the terms of the Plan. Obligations will accrue "interest" as prescribed and to be credited
under the terms of the Plan. Each Participant's Obligation will be adjusted to reflect the
investment experience of the applicable benchmark, including any appreciation or depreciation.
Each Participant will be fully vested in the Obligations.
A Participant's right or the right of any other person to the Obligations cannot be assigned,
alienated, sold, garnished, transferred, pledged, or encumbered except by a written designation of
a beneficiary under the Plan or by laws of descent and distribution.
The Registrant reserves the right to amend or terminate the Plan at any time, except that no
such amendment or termination shall adversely affect the right of any Participant to the balance of
his or her deferred account as of the date of such amendment or termination.
The Obligations will not have the benefit of a negative pledge or any other affirmative or
negative covenant on the part of the Registrant. No trustee has been appointed having the
authority to take action with respect to the Obligations regarding the giving of notices,
responding to any requests for consents, waivers or amendments pertaining to the Obligations,
enforcing covenants or taking action upon a default, and, accordingly, each Participant will be
responsible for acting independently with respect thereto.
Item 5. Interests of Named Experts and Counsel.
Not applicable.
Item 6. Indemnification of Directors and Officers.
Midwest's Amended and Restated Certificate of Incorporation (the "Certificate") and its
Amended and Restated By-laws (the "By-laws") provide for indemnification of Midwest's directors,
officers, employees and other agents to the fullest extent not prohibited by Delaware law.
Midwest's Certificate is consistent with Section 102(b)(7) of the Delaware General Corporation
Law ("DGCL"), which generally permits a company to include a provision limiting the personal
liability of a director in the company's restated certificate of incorporation. With limitations,
this provision eliminates the personal liability of Midwest's directors to Midwest or its
stockholders for monetary damages for breach of fiduciary duty as a director. However, this
provision does not eliminate director liability: (1) for breaches of the duty of loyalty to Midwest
and
3
Table of Contents
its stockholders; (2) for acts or omissions not in good faith or which involve intentional
misconduct or a knowing violation of law; (3) for transactions from which a director derives
improper personal benefit; or (4) under Section 174 of the Delaware General Corporation Law
("Section 174"). Section 174 makes directors personally liable for unlawful dividends and stock
repurchases or redemptions and expressly sets forth a negligence standard with respect to such
liability. While this provision protects the directors from awards for monetary damages for
breaches of their duty of care, it does not eliminate their duty of care. The limitations in this
provision have no effect on claims arising under the federal securities laws.
Article VIII of Midwest's By-laws provide that:
"The Corporation shall indemnify, to the full extent that it shall have the power under the
DGCL to do so and in a manner permitted by such law, any person made or threatened to be made a
party to any threatened, pending or completed action, suit or proceeding, whether civil,
criminal, administrative or investigative, by reason of the fact that he is or was a director,
officer, employee or agent of the Corporation, or is or was serving at the request of the
Corporation as a director, officer, employee or agent of another corporation, partnership, joint
venture, trust or other enterprise against liabilities and expenses reasonably incurred or paid
by such person in connection with such action, suit or proceeding. The words "liabilities" and
"expenses" shall include, without limitations: liabilities, losses, damages, judgments, fines,
penalties, amounts paid in settlement, expenses, attorneys' fees and costs. Expenses incurred in
defending a civil, criminal, administrative, investigative or other action, suit or proceeding
may be paid by the Corporation in advance of the final disposition of such action, suit or
proceeding in accordance with the provisions of Section 145 of the DGCL, as amended.
"The indemnification and advancement of expenses provided by this By-law shall not be
deemed exclusive of any other rights to which any person indemnified may be entitled under any
by-law, statute, agreement, vote of stockholders, or disinterested directors or otherwise, both
as to action in his official capacity and as to action in another capacity while holding such
office, and shall continue as to a person who has ceased to be such director, officer, employee
or agent and shall inure to the benefit of the heirs, executors and administrators of such
person.
"The Corporation may purchase and maintain insurance on behalf of any person referred to in
the preceding paragraph against any liability asserted against him and incurred by him in any
such capacity, or arising out of his status as such, whether or not the Corporation would have
the power to indemnify him against such liability under the provisions of this By-law or
otherwise.
"For purposes of this By-law, reference to "the Corporation" shall include, in addition to
the resulting corporation, any constituent corporation (including any constituent of a
constituent) absorbed in a consolidation or merger which, if its separate existence had
continued, would have had power and authority to indemnify its directors, officers and employees
or agents, so that any person who is or was a director, officer, employee or agent of such
constituent corporation, or is or was serving at the request of such constituent corporation, as
director, officer, employee or agent of another corporation, partnership, joint venture, trust
or other enterprise, shall stand in the same position under the provisions of this By-law with
respect to the resulting or surviving corporation as he would have with respect to such
constituent corporation if its separate existence had continued.
"The provisions of this By-law shall be deemed to be a contract between the Corporation and
each director, officer, employee and agent who serves in any such capacity at any time while
this By-law and the relevant provisions of the DGCL, as amended, or other applicable law, if
any, are in effect, and any repeal or modification of any such law or of this By-law shall not
affect any rights or obligations then existing with respect to any state of facts then or
theretofore existing or any action, suit or proceeding theretofore or thereafter brought or
threatened based in whole or in part upon such state of facts.
"For purposes of this By-law, references to "other enterprises" shall include employee
benefit plans; references to "fines" shall include any excise taxes assessed on a person with
respect to any employee benefit plan; and references to "serving at the request of the
corporation" shall include any service as a director, officer, employee or agent of the
corporation which imposes duties on, or involves services by, such director, officer,
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employee or agent with respect to any employee benefit plan, its participants, or beneficiaries;
and a person who acted in good faith and in a manner he reasonably believed to be in the best
interest of the participants and beneficiaries of an employee benefit plan shall be deemed to
have acted in a manner not opposed to the best interests of the Corporation."
Midwest carries directors' and officers' liability insurance coverage which insures its
directors and officers and the directors and officers of its subsidiaries in certain circumstances.
Under agreements which may be entered into by us, certain of our controlling persons,
directors and officers may be entitled to indemnification by underwriters and agents who
participate in the distribution of securities covered by the registration statement against certain
liabilities, including liabilities under the Securities Act of 1933.
Item 7. Exemption From Registration Claimed.
Not applicable.
Item 8. Exhibits.
4.1
The Midwest Banc Holdings, Inc. Directors' Deferred Compensation Plan (incorporated
by reference from Midwest's current report on Form 8-K filed with the Commission on
December 16, 2005, File No. 001-13735).
5.1
Opinion of Hinshaw & Culbertson, LLP regarding legality.
23.1
Consent of PricewaterhouseCoopers LLP.
23.2
Consent of McGladrey & Pullen, LLP.
23.3
Consent of Hinshaw & Culbertson LLP (included in Exhibit 5.1).
24.1
Power of Attorney (included on the signature pages of the Registration Statement).
Item 9. Undertakings.
(a) The undersigned registrant hereby undertakes:
(1) To file, during any period in which offers or sales are being made, a post-effective
amendment to this Registration Statement to include any material information with respect to the
plan of distribution not previously disclosed in the Registration Statement or any material change
to such information in the Registration Statement.
(2) That, for the purpose of determining any liability under the Securities Act of 1933, each
such post-effective amendment shall be deemed to be a new registration statement relating to the
securities offered therein, and the offering of such securities at that time shall be deemed to be
the initial bona fide offering thereof.
(3) To remove from registration by means of a post-effective amendment any of the securities
being registered which remain unsold at the termination of the offering.
(b) The undersigned registrant hereby undertakes that, for purposes of determining any
liability under the Securities Act of 1933, each filing of the registrant's annual report pursuant
to Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934 that is incorporated by
reference in this Registration Statement shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities at that time shall
be deemed to be the initial bona fide offering thereof.
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(c) Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be
permitted to directors, officers and controlling persons of the registrant pursuant to the
foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the
Securities and Exchange Commission such indemnification is against public policy as expressed in
the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification
against such liabilities (other than the payment by the registrant of expenses incurred or paid by
a director, officer or controlling person of the registrant in the successful defense of any
action, suit or proceeding) is asserted by such director, officer or controlling person in
connection with the securities being registered, the registrant will, unless in the opinion of its
counsel the matter has been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is against policy as expressed in the
Securities Act and will be governed by the final adjudication of such issue.
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SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, as amended, the registrant
certifies that it has reasonable grounds to believe that it meets all the requirements for filing
on Form S-8 and has duly caused this registration statement to be signed on its behalf by the
undersigned, thereunto duly authorized, in the city of Melrose Park, State of Illinois, on this
16th day of March, 2006.
MIDWEST BANC HOLDINGS, INC.
By:
/s/  James J. Giancola
James J. Giancola
President and Chief Executive Officer
We, the undersigned officers and directors of Midwest Banc Holdings, Inc., and each of us, do
hereby constitute and appoint each and any of James J. Giancola and Daniel R. Kadolph, our true and
lawful attorney and agent, with full power of substitution and resubstitution, to do any and all
acts and things in our name and behalf in any and all capacities and to execute any and all
instruments for us in our names in any and all capacities, which attorney and agent may deem
necessary or advisable to enable said corporation to comply with the Securities Act of 1933, as
amended, and any rules, regulations, and requirements of the Securities and Exchange Commission, in
connection with this Registration Statement, including specifically, but without limitation, power
and authority to sign for us or any of us in our names in the capacities indicated below, any and
all amendments (including post-effective amendments) hereto; and we do hereby ratify and confirm
all that said attorney and agent, or his substitute, shall do or cause to be done by virtue
thereof.
Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has
been signed by the following persons in the capacities and on the dates indicated:
Signature
Title
Date
/s/ James J. Giancola
Director, President and Chief
James J. Giancola
Executive Officer
March 16, 2006
/s/ Daniel R. Kadolph
Senior Vice President,
Daniel R. Kadolph
Chief Financial Officer,
Comptroller and Treasurer
March 16, 2006
/s/ E.V. Silveri
Chairman of the Board, Director
March 16, 2006
E.V. Silveri
/s/ Angelo A. DiPaolo
Director
March 16, 2006
Angelo A. DiPaolo
/s/ Barry I. Forrester
Director
March 16, 2006
Barry I. Forrester
/s/ Robert J. Genetski
Director
March 16, 2006
Robert J. Genetski
/s/ Gerald F. Hartley
Director
March 16, 2006
Gerald F. Hartley
/s/ Homer J. Livingston, Jr.
Director
March 16, 2006
Homer J. Livingston, Jr.
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Signature
Title
Date
/s/ Daniel Nagle
Director
March 16, 2006
Daniel Nagle
/s/ Joseph Rizza
Director
March 16, 2006
Joseph Rizza
/s/ Robert D. Small
Director
March 16, 2006
Robert D. Small
/s/ Kenneth Velo
Director
March 16, 2006
Kenneth Velo
/s/ Leon Wolin
Director
March 16, 2006
Leon Wolin
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INDEX TO EXHIBITS
EXHIBIT
NUMBER
DESCRIPTION OF EXHIBIT
4.1
The Midwest Banc Holdings, Inc. Directors' Deferred Compensation Plan
(incorporated by reference from Midwest's current report on Form 8-K filed with
the Commission on December 16, 2005, File No. 001-13735).
5.1
Opinion of Hinshaw & Culbertson, LLP regarding legality.
23.1
Consent of PricewaterhouseCoopers LLP.
23.2
Consent of McGladrey & Pullen LLP.
23.3
Consent of Hinshaw & Culbertson LLP (included in Exhibit 5.1).
24.1
Power of Attorney (included on the signature pages of the Registration Statement).
9