Item 8.01. Other Events.

At the close of business on July 2, 2009, The PrivateBank and Trust Company ("The PrivateBank"), a wholly owned subsidiary of PrivateBancorp, Inc. (the "Company"), acquired all of the deposits of Worth, Illinois-based Founders Bank in a loss-share transaction facilitated by the Federal Deposit Insurance Corporation (the "FDIC"). In addition to assuming all of the deposits of Founders Bank, The PrivateBank agreed to purchase approximately $906 million in assets at a discount of $54.5 million. The FDIC and The PrivateBank entered into a loss-share transaction providing The PrivateBank with substantial protection from the FDIC for loan losses. A copy of the press release issued by the Company announcing the transaction is attached to this report as Exhibit 99.1, and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

99.1 Press Release dated July 2, 2009.

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