Taylor Capital Group Inc. in Rosemont, Ill., announced it is selling its corporate trust business to Amalgamated Bank of Chicago.
The companies did not disclose the deal's price. The sale is expected to close in the second quarter, according to a press release issued Friday by the $4.4 billion-asset Taylor.
Bruce W. Taylor, the chief executive of Taylor and chairman of its Cole Taylor Bank unit, said in the release that selling the division would let the bank focus on its "core, relationship-based commercial banking business."
