Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On December 1, 2008, the Board of Directors of Taylor Capital Group, Inc. (the "Company") appointed Randall T. Conte to serve as Chief Financial Officer and Secretary of the Company. On December 2, 2008, the Board of Directors of the Company's wholly-owned subsidiary, Cole Taylor Bank (the "Bank"), appointed Mr. Conte as Chief Financial Officer and Secretary of the Bank. Mr. Conte succeeds Robin VanCastle as Chief Financial Officer of the Company and the Bank. Ms. VanCastle announced her plans to resign from the Company, but she anticipates remaining with the Company through March 13, 2009 to facilitate an orderly transition of responsibilities to Mr. Conte.

As previously reported, Mr. Conte joined the Bank on October 27, 2008 as an Executive Vice President and Chief Operating Officer and will continue to serve in that capacity as well as that of Chief Financial Officer. Prior to joining the Bank, Mr. Conte was with ABN Amro North America and its LaSalle Bank organization from 1998 to 2008. Most recently, from 2007 to 2008, Mr. Conte was Executive Vice President and Head of Operations for LaSalle Bank in Chicago, Illinois, responsible for LaSalle's retail, consumer, mortgage and virtual banking businesses. From 2005 to 2007, Mr. Conte was Executive Vice President and Chief Operations Officer of ABN Amro Mortgage Group, located in Ann Arbor, Michigan. From 1999 to 2005, Mr. Conte was Corporate Controller of LaSalle Bank Corporation, located in Chicago, Illinois. Prior to his tenure at ABN Amro and LaSalle Bank, Mr. Conte held positions at SBC Warburg (now UBS) and in public accounting. Mr. Conte is a certified public accountant.

Mr. Conte does not have any family relationship with any other executive officer of the Company, with any director of the Company, or with any person selected to become an officer or a director of the Company. There are no arrangements or understandings between Mr. Conte and any other person pursuant to which Mr. Conte was selected as Chief Financial Officer and Secretary of the Company. Mr. Conte has indicated an interest in acquiring shares of the 8% Non-Cumulative Convertible Perpetual Preferred Stock, Series A (the "Series A Preferred Stock"), issued by the Company in a private placement transaction consummated on September 29, 2008. Harrison I. Steans, the Chairman of the Company's Executive Committee, and Bruce W. Taylor, the Company's Chairman and Chief Executive Officer, and certain other existing Series A Preferred Stock holders have expressed a willingness to sell a limited amount of their shares of Series A Preferred Stock to Mr. Conte and certain other recently-hired employees of the Company. The terms of this contemplated transaction are being finalized and remain subject to mutual approval of the parties and the review and approval of the Audit Committee of the Board of Directors of the Company.

A copy of the Company's press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.