Tribune staff report | The stock of Cole Taylor Bank’s parent
company was down 17 percent, to $13.49 a share, in late-day trading Wednesday after the
Rosemont-based lender reported worse-than-expected financial results.

For the quarter ended March 31, Taylor Capital Group Inc. reported a net
loss of $13.6 million, or $1.30 a diluted share, compared to a net loss
of $5.7 million, or 54 cents a share, a year-earlier.

The $4.5 billion-asset bank holding company blamed the loss on problems in its loan portfolio.

“This resulted in increased charge-offs and a larger provision for loan losses and negatively impacted our results for the quarter,” the bank said.

Taylor’s first quarter 2010 provision for loan losses rose to $21.1 million, from $15.5 million a year earlier. That comes right off a bank’s bottom line.

Read the press release.