CHICAGO, May 9, 2014 /PRNewswire/ -- Cole Taylor
Bank, a wholly-owned subsidiary of Taylor Capital Group, Inc.
(NASDAQ: TAYC), today announced that William A. Newman, President of its Cole Taylor
Mortgage Division, has resigned. The bank also announced that it is
no longer seeking to sell the division and instead will retain it
while continuing to invest in its ongoing growth.
Randall T. Conte, Executive Vice
President, Chief Financial Officer and Chief Operating Officer of
Cole Taylor Bank, has been named as
interim President of the division until a permanent division leader
is appointed. Conte will retain his existing responsibilities at
the bank.
Mark A. Hoppe, President and
Chief Executive Officer of the bank, said, "We were sorry to learn
of Willie's decision to leave the organization. His leadership and
vision were critical to building the division into what it has
become today. And while we shared a common strategic goal for the
organization, Willie's broader and more expansive vision could not
be achieved. With thanks for his exceptional leadership, we wish
him well in his future endeavors. I'm highly confident that Randy,
with ten years of senior-level mortgage business management
experience, and the outstanding team of Cole Taylor Mortgage
leaders already in place, will grow that business and sustain its
exceptional standards of client service.
"The Cole Taylor Mortgage leadership team has built an
incredible business in just a few short years. As we evaluated the
possible sale of the division over the past year, we determined
that potential buyers didn't share our appreciation for the
long-term value of the business. Therefore, we've decided to retain
Cole Taylor Mortgage as a line of business going forward both in
the short term and subsequent to our planned merger with MB
Financial Bank. I'm excited about the future of our mortgage
business and look forward to its ongoing contributions to our
success."
About Taylor Capital Group, Inc.
Taylor Capital Group, Inc. is the holding company of
Cole Taylor Bank, a commercial bank
headquartered in Chicago with
assets of $5.7 billion as of
March 31, 2014. 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.
SOURCE Taylor Capital Group, Inc.