Crain's Chicago Business - Feb 02, 2010PrivateBancorp, Inc. (PVTB)
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Steven Alexopoulos
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JP Morgan"There are aspirations to be bigger, stronger, add value," he says, acknowledging that it could take much longer to get there
PrivateBancorp's loan problems will keep it unprofitable through mid 2011, forecasts Steven Alexopoulos, an analyst at J P Morgan Chase & Co in New York "Once the credit challenge is overcome, we would expect the company to pick up again with former growth initiatives," Mr Alexopoulos wrote in a report last week NO NEW EQUITY After tapping the public equity markets four times in the past two years, Mr Richman says the bank won't raise equity for the time being, a relief to Mr Richman's original investors, whose stakes have been diluted even as the stock price has fallen to less than half what they paid
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"There are aspirations to be bigger, stronger, add value," he says, acknowledging that it could take much longer to get there<span class="sent"> <span class="company">PrivateBancorp</span>'s loan problems will keep it unprofitable through mid 2011, forecasts <span class="analyst">Steven Alexopoulos</span>, an analyst at J P Morgan Chase & Co in New York</span> "Once the credit challenge is overcome, we would expect the company to pick up again with former growth initiatives," Mr Alexopoulos wrote in a report last week NO NEW EQUITY After tapping the public equity markets four times in the past two years, Mr Richman says the bank won't raise equity for the time being, a relief to Mr Richman's original investors, whose stakes have been diluted even as the stock price has fallen to less than half what they paid
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