Privatebancorp, Inc (PVTB) 10-K Annual Report February 2016

CHICAGO, January 21, 2016 - PrivateBancorp, Inc. (NASDAQ: PVTB) today reported net income of $52.1 million, or $0.65 per diluted share, for the fourth quarter 2015, compared to $37.2 million, or $0.47 per diluted share, for the fourth quarter 2014, and $45.3 million, or $0.57 per diluted share, for the third quarter 2015. For the year ended December 31, 2015, the Company had net income of $185.3 million, or $2.32 per diluted share, compared to $153.1 million, or $1.94 per diluted share, for the year ended December 31, 2014.

“Our 2015 results reflect the benefit of our focus on consistent execution and building long-term profitable client relationships,” said Larry D. Richman, President and Chief Executive Officer, PrivateBancorp, Inc. “We grew loans, deposits and fee income as we built new client relationships and expanded services to existing clients. In fact, in the fourth quarter we generated almost $500 million in new loans to new clients and increased noninterest bearing deposits by more than $285 million. Our ability to generate earning assets and grow revenue throughout the year, and to manage expenses, led to a 20 percent increase in operating profit. Net income was up 21 percent compared to a year ago, our seventh consecutive year of improving our bottom line results and strengthening our balance sheet.

“As we look into 2016, we believe we are well positioned to continue to add new client relationships and serve existing clients as they carry out their business objectives. We are confident in the business we have built and proud of the value we deliver to our clients, our communities and our shareholders.”

Fourth Quarter 2015 Highlights


•	Total loans grew to $13.3 billion, up $1.4 billion from a year ago and $187.2 million from September 30, 2015.


•	Total deposits were $14.3 billion, increasing $1.3 billion from a year ago and $447.9 million from September 30, 2015. Noninterest-bearing demand deposits grew $839.0 million from a year ago and $286.9 million from September 30, 2015, representing 30 percent of total deposits at December 31, 2015, compared to 27 percent a year ago.


•	Net revenue of $170.4 million for the fourth quarter 2015 benefited from growth in average loans, increasing 15 percent from the fourth quarter 2014 and 4 percent from the third quarter 2015. Average loans grew $1.4 billion, or 13 percent, from the fourth quarter 2014 and $397.2 million, or 3 percent, from the third quarter 2015.

The following information was filed by Privatebancorp, Inc (PVTB) on Thursday, January 21, 2016 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

Privatebancorp, Inc provided additional information to their SEC Filing as exhibits

Exhibit 12: Statement Regarding Calculation Of Ratios

Exhibit 21: Subsidaries Of The Registrant

Exhibit 23: Consents Of Experts And Counsel

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32: Section 1350 Certification

Ticker: PVTB
CIK: 889936
Form Type: 10-K Annual Report
Accession Number: 0000889936-16-000135
Submitted to the SEC: Thu Feb 25 2016 5:35:55 PM EST
Accepted by the SEC: Fri Feb 26 2016
Period: Thursday, December 31, 2015
Industry: State Commercial Banks

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Privatebancorp, Inc (PVTB) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2015

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