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Company Description

Contact Info

120 South LaSalle Street

Chicago, IL 60603

United States

Phone: 312-564-2000

Fax:

PrivateBancorp, Inc. operates as the bank holding company for The PrivateBank and Trust Company that provides customized business and personal financial services to middle market companies, as well as business owners, executives, entrepreneurs and families in the markets and communities that the company serves. As of December 31, 2015, the company operated out of 35 offices located in 12 states, including 24 were full-service banking branches in 4 states. The company’s full-service bank branches are located principally in the greater Chicago metropolitan area, with additional branches in the St. Louis, Milwaukee and Detroit metropolitan areas. The company has non-depository commercial banking offices located in major commercial centers to further its reach with its core client base of middle market companies. Business The company operates Commercial Banking, Community Banking, and Private Wealth businesses. Commercial Banking The company’s Commercial Banking business focuses on the specific needs of middle market companies and serves a range of industries, such as manufacturing, transportation, wholesale distribution, retail and certain specialty industries. The company’s Commercial Banking business also includes its Commercial Real Estate group, which serves the needs of professional real estate investors and developers, and the company’s professionals focusing on specialized industries and products, such as healthcare, finance and insurance, construction and engineering services, security alarm finance and asset-based lending. In addition to the company’s bank branches in the Chicago metropolitan areas, it conducts the company’s banking business through branches in the St. Louis, Milwaukee and Detroit metropolitan areas, as well as through commercial banking offices in Atlanta, Georgia; Cleveland, Ohio; Denver, Colorado; Des Moines, Iowa; Grand Rapids, Michigan; Indianapolis, Indiana; Kansas City, Missouri; Minneapolis, Minnesota; Pittsburgh, Pennsylvania; and Stamford, Connecticut. The company’s Commercial Banking business also includes its Treasury Management, Loan Syndications and Capital Markets groups. Commercial Loans: The company offers commercial borrowers revolving lines of credit for working capital needs, term loans to finance expansion, acquire inventory or equipment or otherwise support growth, and standby and performance letters of credit to facilitate transactions with trading partners. Included in the company’s commercial loans are loans secured at least in part by non-residential owner-occupied commercial real estate where the cash flows from the borrowers’ businesses, as opposed to cash flows from the real estate itself, serve as the primary source of loan repayment. Also included within the company’s commercial loans are leveraged loans, which are primarily underwritten on the recurring cash flow and earnings of the borrower, typically to finance leveraged buyouts, add-on acquisitions, recapitalizations and other strategic initiatives, and generally have higher debt-to-earnings ratios compared to other commercial loans. Commercial Real Estate Loans: The company offers professional real estate investors and developers credit solutions for the construction, acquisition, redevelopment and refinancing for major core property types, including office, industrial, retail, multifamily, student housing and for-sale housing. The company provides financing opportunities for privately-held, entrepreneurial real estate companies, as well as for REIT and other institutional real estate clients. The company is a short- and medium-term lender for commercial real estate properties. The company’s commercial real estate specialists are located in the Chicago, Illinois; Atlanta, Georgia; Denver, Colorado; Detroit, Michigan; Milwaukee, Wisconsin; Minneapolis, Minnesota; and St. Louis, Missouri markets. Specialized Industries and Products: Within the company’s Commercial Banking business, it has various teams of commercial bankers that focus on a particular industry or a specific product offering that could be offered across industries. These specialty banking teams employ relationship manager

 

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Valuation TPB Industry Range
Price/Earnings 18.4x
Price/Sales 5.4x
Price/Book 2.0x
Price/Cash Flow 18.2x
TEV/Sales 2.2x
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