PrivateBancorp Stockholders Approve All Proposals
CHICAGO, May 26, 2011 /PRNewswire/ -- PrivateBancorp, Inc. (NASDAQ: PVTB) today announced that its stockholders have approved all proposals at the 2011 annual meeting.
PrivateBancorp stockholders approved the following proposals:
- The election of Board members Ralph B. Mandell, Cheryl Mayberry McKissack, Edward W. Rabin, and Larry D. Richman
- The ratification of the appointment of Ernst & Young LLP as the company's independent registered public accounting firm for the fiscal year ending December 31, 2011
- A non-binding advisory vote on 2010 executive compensation
- The approval of the PrivateBancorp, Inc. 2011 Incentive Compensation Plan
"Since we embarked on our strategic transformation plan in late 2007, we have grown from $4.5 billion to $12.5 billion in assets today and, across our markets, we have added over 850 new client relationships," said Larry D. Richman, President and Chief Executive Officer, PrivateBancorp, Inc. "We are committed to creating long-term value as we continue our evolution into a leading commercial middle market bank."
Of the 67.9 million shares eligible to vote as of the March 28, 2011, record date, more than 63.6 million votes, or approximately 93.7 percent of the total shares outstanding, were represented at the meeting.
About PrivateBancorp, Inc.
PrivateBancorp, Inc., through its subsidiaries, delivers customized business and personal financial services to middle-market companies, as well as business owners, executives, entrepreneurs and families in all of the markets and communities it serves. As of March 31, 2011, the Company had 34 offices in 10 states and $12.5 billion in assets. Our website is www.theprivatebank.com.
SOURCE PrivateBancorp, Inc.
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