PrivateBancorp Reports 1Q Loss as Loan Loss Provisions Soar

PrivateBancorp Inc. swung to a first-quarter loss that was wider than analysts' estimates as provisions for loan losses quadrupled.

"While there is still credit uncertainty, we are encouraged by the slowing pace of our non-performing asset growth and continue to actively manage through the challenges of the cycle," said Chairman and Chief Executive Larry Richman.