Taylor Capital Group Inc. said Wednesday that it lost $3.8 million, or 37 cents per share, in the first quarter due to a rise in its loan-loss provision and higher expenses for hiring at its Cole Taylor Bank subsidiary.
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It earned $5.3 million, or 48 cents per share, the year earlier.
The loan-loss provision was $11.75 million, more than three times the provision the year before and just half of the fourth quarter's.
Noninterest expense grew 20%, to $21.8, million. In January the company hired Mark A. Hoppe as president and chief executive of Cole Taylor Bank, and he has added senior-level executives in the commercial banking group and roughly two-dozen lenders.
