This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Taylor Capital Announces Preferred Stock Offering

CHICAGO, Nov. 16, 2012 /PRNewswire/ -- Taylor Capital Group, Inc. (the "Company") (NASDAQ: TAYC), the parent company of Cole Taylor Bank, priced a public offering of $100.0 million of its Perpetual Non-Cumulative Preferred Stock, Series A (the "Preferred Stock"), at a price of $25.00 per share.  Dividends on the Preferred Stock will be payable when, as and if declared by the Company's board of directors on a non-cumulative basis at an annual rate of 8.00%.

The offering is expected to close on or about November 20, 2012 subject to customary conditions.  The Company intends to use the net proceeds of this offering to facilitate the further expansion of its national businesses (Cole Taylor Mortgage, Cole Taylor Business Capital and Cole Taylor Equipment Finance) and its Chicago commercial banking business and for general corporate purposes.  The Preferred Stock has been structured to qualify as Tier 1 capital under currently applicable regulatory guidelines.

Sandler O'Neill + Partners is the sole book running manager for the offering.  Co-managers are Stifel Nicolaus & Co, Inc., Janney Montgomery Scott LLC., and Boenning & Scattergood, Inc. This offering is being made pursuant to a prospectus supplement to the Company's prospectus, dated January 26, 2011, filed as part of the Company's effective universal shelf registration statement.  Copies of the prospectus supplement and accompanying prospectus relating to the Preferred Stock may be obtained by contacting the sole book running manager:  Sandler O'Neill + Partners, Attention:  Prospectus Department, telephone: (866) 805-4128 or by visiting EDGAR on the SEC Web site at

This press release does not constitute an offer to sell or the solicitation of an offer to buy any of these securities nor will there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of any such jurisdiction. 

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs