The PrivateBank Awards $115,000 in Affordable Housing Grants

CHICAGO, July 16, 2014 /PRNewswire/ -- The PrivateBank today announced that it has awarded more than $115,000 in grants through its Affordable Housing Grant Program to organizations in Chicago, Detroit and St. Louis.

The grants were made to HUD-certified counseling agencies that work to make affordable housing accessible in their communities. Organizations were nominated by members of the bank's Community Lending team and selected based on their ability to support affordable housing programs in their communities.

"Home ownership is important to creating stable and thriving neighborhoods in our cities," said Brant Ahrens, President, Personal Client Services at The PrivateBank. "Through these grants, we hope to help these agencies prepare our neighbors for the responsibility and the opportunity that comes with owning their own homes. The PrivateBank is committed to partnering with agencies such as these working to make our neighborhoods strong, vibrant places to live."

Grant recipients were:
Chicago Urban League, Chicago
Northwest Side Housing Center, Chicago
The Resurrection Project, Chicago
Spanish Coalition for Housing, Chicago
Neighborhood Housing Services Of Chicago-Chicago Lawn
Wayne Metropolitan Community Action Agency, Detroit
Beyond Housing, St. Louis
Better Family Life, St. Louis

The PrivateBank Community Lending team is focused on working with low- and moderate-income borrowers or those purchasing homes in low- and moderate-income census tracts. The bank's SMART Affordable Mortgage provides special terms and rates to qualified borrowers.

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 we serve. As of March 31, 2014, the Company had 33 offices in 10 states and $14.3 billion in assets. Our website is www.theprivatebank.com.

SOURCE The PrivateBank