Add-on Acquisition • Financial Services

PrivateBancorp Acquires Bloomfield Hills Bancorp

On April 14, 2005, PrivateBancorp acquired financial services company Bloomfield Hills Bancorp for 64M USD

Acquisition Context
  • This is PrivateBancorp’s 2nd transaction in the Financial Services sector.
  • This is PrivateBancorp’s largest (disclosed) transaction.
  • This is PrivateBancorp’s 2nd transaction in the United States.
  • This is PrivateBancorp’s 1st transaction in Michigan.

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M&A Deal Summary

Date April 14, 2005
Target Bloomfield Hills Bancorp
Sector Financial Services
Buyer(s) PrivateBancorp
Deal Type Add-on Acquisition
Deal Value 64M USD

Target Company

Bloomfield Hills Bancorp

Bloomfield Hills, Michigan, United States
Bloomfield Hills Bancorp. Inc. and its bank subsidiary, The Private Bank, were established in 1989, and had $338 million of total assets and $20 million of equity as of March 31, 2005. The company provides highly personalized client service with an emphasis on meeting the unique financial needs of successful individuals.
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Buyer Overview 1

Buyer

PrivateBancorp

Chicago, Illinois, United States

Category Company
Founded 1989
Sector Financial Services
Employees1,224
Revenue 646M USD (2016)
DESCRIPTION

PrivateBancorp, Inc. is a provider of personalized financial services primarily to affluent individuals, professionals, owners of closely-held businesses and commercial real estate investors. PrivateBancorp, Inc., through its subsidiary The PrivateBank, 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 it serves. The Company has 34 offices in 12 states and, as of March 31, 2016, had US$17.7 billion in assets.


Deal Context for Buyer #
Overall 2 of 2
Sector: Financial Services 2 of 2
Type: Add-on Acquisition 2 of 2
State: Michigan 1 of 1
Country: United States 2 of 2
Year: 2005 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-04-19 The PrivateBank Mortgage Company

Chicago, Illinois, United States

The PrivateBank Mortgage Company LLC is a mortgage banker.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-01 The PrivateBank Mortgage Company

Chicago, Illinois, United States

The PrivateBank Mortgage Company LLC is a mortgage banker.

Sell -