EXHIBIT 99.1
For further information:
Amy Yuhn
Director of Communications
312-564-1378
ayuhn@theprivatebank.com
For Immediate Release
PrivateBancorp, Inc. Announces Commencement of
Underwritten Public Offering of Common Stock
CHICAGO, June 4, 2008— PrivateBancorp, Inc. (the “Company”) (NASDAQ: PVTB) today announced it has commenced an underwritten public offering of 3.7 million shares of its common stock. The net proceeds from the offering will be used to fund the ongoing execution of its Strategic Growth Plan and for other general corporate purposes.
Keefe, Bruyette & Woods, Inc. is sole book manager and Robert W. Baird & Co. Incorporated is co-lead manager for the offering. Co-managers are William Blair & Company, L.L.C., and SunTrust Robinson Humphrey, Inc.
The Company intends to grant the underwriters an option to purchase up to an additional 15 percent of the shares offered to cover over-allotments, if any. The shares will be issued pursuant to a prospectus supplement to the prospectus filed as a part of the Company’s effective shelf-registration statement on Form S-3 (File No. 333-150767).
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering may only be made by means of a prospectus and a related prospectus supplement, copies of which may be obtained from Keefe, Bruyette & Woods atThe Equitable Building, 787 Seventh Avenue, 4th floor, New York, NY 10019, Attn: Prospectus Department,or by calling1-800-221-3246.
About PrivateBancorp, Inc.
PrivateBancorp, Inc. is a growing diversified financial services company with 22 offices in nine states and more than $6 billion in assets as of March 31, 2008. Through its subsidiaries, PrivateBancorp delivers customized business and personal financial services to middle-market commercial and commercial real estate companies, as well as business owners, executives, entrepreneurs and wealthy families.
