Amalgamated Bank Completes Acquisition of Cole Taylor Bank's Corporate Trust Business

CHICAGO, April 21 /PRNewswire/ -- Amalgamated Bank of Chicago today said that it has completed its previously announced acquisition of the only remaining part of Cole Taylor Bank's trust department, its corporate trust group.  Cole Taylor Bank is a wholly-owned subsidiary of Taylor Capital Group (Nasdaq: TAYC). Terms of the deal were not announced.

The acquisition, which will be accretive to earnings in 2010, will  increase by over twenty-five percent the size of Amalgamated's already growing corporate trust business and add a number of blue-chip municipalities and cultural institutions to its client roster.

"With the addition of these clients to our current base, our Corporate Trust Department will significantly enhance its competitive position and will be able to serve a wider segment of the tax-exempt and taxable bond markets in the Midwest through our relationship-based, customized service approach," said Robert M. Wrobel, president and chief executive office of Amalgamated Bank of Chicago.

The Corporate Trust Department will continue to be headed by Christine Linde, the Bank's senior vice president.  She will lead a professional team of administrators with an average of 17 years in the corporate trust industry, including those brought over in the acquisition.

Amalgamated's Corporate Trust Department serves the fiduciary and administrative needs of corporations, state and local public institutions that issue bonds, notes and other debt securities.  Prior to the acquisition, the Corporate Trust Department administered over one thousand taxable and tax-exempt debt instruments representing in excess of $30 billion in principal amount of securities and escrows approaching almost $3 billion in assets.

About Amalgamated Bank of Chicago

Founded in 1922, Amalgamated Bank of Chicago specializes in serving the financial and trust needs of governmental units, various national, international and local unions and their members, and corporations and commercial organizations.  As of March 31, 2010 Amalgamated Bank's assets were $756 million.  More information can be found on the Bank's website www.aboc.com.

SOURCE Amalgamated Bank of Chicago