Revenue during the quarter grew 13.90 percent to $189.89 million from $166.72 million in the previous year period. Net interest income for the quarter rose 15.41 percent over the prior year period to $161.02 million. Non-interest income for the quarter rose 10.95 percent over the last year period to $37.28 million.

PrivateBancorp, Inc. has made provision of $8.41 million for loan losses during the quarter, up 31.33 percent from $6.40 million in the same period last year.

Net interest margin was stable at 3.30 percent in the quarter, when compared with the last year period. Efficiency ratio for the quarter deteriorated to 55.33 percent from 51.91 percent in the previous year period. A rise in efficiency ratio suggests a fall in profitability.

"Our first quarter results reflect our consistent focus on building client relationships as loans increased by $535.4 million to $15.6 billion and asset quality remained strong," said Larry D. Richman, president and chief executive officer, PrivateBancorp, Inc. "We realized the benefit of a full quarter's impact of the December interest rate increase and average earning assets of $19.7 billion drove net interest income 15 percent higher from first quarter 2016. Net income was up 17 percent from a year ago to $58.0 million but down from the fourth quarter primarily due to higher employee expenses, as expected. We had a good start to the year. "We are pleased to have reached a revised agreement with CIBC, which provides our stockholders with a significant increase in value as compared to the initial terms of the transaction," Richman continued.

Deposits stood at $16,708.72 million as on Mar. 31, 2017, up 15.51 percent compared with $14,464.87 million on Mar. 31, 2016.

Loans to deposits ratio was 93.31 percent for the quarter, up from 93.04 percent for the previous year quarter.

Noninterest-bearing deposit liabilities were $5,258.94 million or 31.47 percent of total deposits on Mar. 31, 2017, compared with $4,338.18 million or 29.99 percent of total deposits on Mar. 31, 2016.

Investments stood at $3,935.65 million as on Mar. 31, 2017, up 17.31 percent or $580.63 million from year-ago. Shareholders equity was at $1,994.99 million as on Mar. 31, 2017.

Return on average assets moved up 2 basis points to 1.17 percent in the quarter from 1.15 percent in the last year period. At the same time, return on average equity increased 55 basis points to 11.95 percent in the quarter from 11.40 percent in the last year period.

Nonperforming assets moved up 27.14 percent or $20.05 million to $93.93 million on Mar. 31, 2017 from $73.88 million on Mar. 31, 2016. Meanwhile, nonperforming assets to total assets was 0.46 percent in the quarter, up from 0.42 percent in the last year period.