CHICAGO, Nov. 22, 2013 /PRNewswire/ -- Taylor Capital
Group, Inc. (the "Company") (NASDAQ: TAYC), the parent company of
Cole Taylor Bank (the "Bank"), announced it has issued a notice to
redeem all of its remaining 19,973 shares of Fixed Rate Cumulative
Perpetual Preferred Stock, Series B (the "Series B Preferred
Stock") for an aggregate price of $20.0
million, the face liquidation amount of the shares, plus
approximately $105,000 of accrued but
unpaid dividends at a current annual rate of 5.0%. The shares
will be redeemed from current holders, through The Depository Trust
Company as securities depository for the Series B Preferred
Stock. The redemption date will be December 23, 2013, and the transaction will be
funded using available cash on hand at the Company.
Following completion of both this redemption and the redemption
announced on November 1, 2013, there
will be no shares of the Series B Preferred Stock
outstanding. This announcement, as well as additional
information (including the Company's Notice of Redemption with
respect to the redemption of the Series B Preferred Stock), can be
found on Taylor Capital Group's website:
www.taylorcapitalgroup.com.
About Taylor Capital Group, Inc. (NASDAQ: TAYC)
Taylor Capital Group, Inc. is the holding company of
Cole Taylor Bank, a commercial bank
headquartered in Chicago with
assets of $6.0 billion as of
September 30, 2013. For more than 80
years, Cole Taylor Bank has been
successfully meeting the banking needs of closely-held companies
and the people who own and manage them by focusing on a
relationship-based approach to business. Through its national
businesses, Cole Taylor provides a
full range of financial services, including asset based lending,
commercial equipment financing, and residential mortgage
lending.
Visit www.coletaylor.com
Forward Looking Statement Disclaimer Referenced In
Comments:
Forward-looking statements: Certain statements in this press
release constitute forward-looking statements. These
forward-looking statements reflect our current expectation about
certain prospects and opportunities, and anticipated or expected
events. We have tried to identify these forward-looking statements
by using words such as "may," "plan," "should," "will,"
"expect," "believe," "intend," "could" and "estimate" and similar
expressions. These forward-looking statements are based on
information currently available to us and are subject to a number
of risks, uncertainties and other factors that could cause our
performance and actual events in 2013 and beyond to differ
materially from expectations expressed in, or implied by, these
forward-looking statements.
SOURCE Taylor Capital Group, Inc.