Taylor Capital Group, Inc. Completes the Redemption of All Remaining Outstanding Series B Preferred Stock
CHICAGO, Dec. 23, 2013 /PRNewswire/ -- Taylor Capital Group, Inc. (the "Company") (NASDAQ: TAYC), the parent company of Cole Taylor Bank (the "Bank"), completed the previously announced redemption of the last shares of its outstanding Fixed Rate Cumulative Perpetual Preferred Stock, Series B. These shares were redeemed at 100% of their liquidation preference plus accrued and unpaid dividends to the date of redemption, for an aggregate redemption payment of $20.1 million. The transaction was funded using available cash on hand at the Company.
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.
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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.