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Taylor Capital Group, Inc. (TAYC) |
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CEOCFO Current
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Family-run
Cole Taylor Bank, Chicago’s business bank, serves the financial needs of
Chicago’s small- and mid-corporate market and leverages its own expertise in the
arena of owner-operated business to add value to their business customer relationships Cole Taylor Bank, a family-managed business and a subsidiary of Taylor Capital Group (TAYC-NASD), strives to be the premier bank for Chicago-area businesses and the people who own and manage them. The 8th largest bank in Chicago in terms of asset size, Cole Taylor provides its customers with superior financial services coupled with relevant and timely business advice. They accomplish this by providing expertise, dedication and personalized service that furthers their customers’ abilities to achieve the financial goals of their companies. “I feel fortunate to be an owner of this company, and to have the opportunity each day to influence our success by being out in the marketplace and talking about our approach to business banking.” Offers Mr. Jeffrey W. Taylor, Chairman of Taylor Capital Group, “We deliver a depth of understanding that other banks cannot. As I often explain to both our officers and our customers, we are more than just a loan maker and deposit taker. Because we understand the complexities of operating a business ourselves, we can share our experiences, our advisors, and our resources with our business customers. In this way, we can help these business owners deal with issues they may be facing or opportunities they may be embarking upon. This is the “value added” component Cole Taylor delivers to our customers — and you just can’t get that from the larger banks.” Discussing Cole Taylor’s customer base, Mr. Taylor tells us, “We focus on Chicago area owned and operated businesses. Our customer segments include businesses up to about $50 MM in sales, although some of our largest customers have sales of hundreds of millions. We also target commercial real estate developers, as well as the owners and managers of the businesses that bank with us.” Asked what areas of services are growing fastest for you and are there areas of service that you would like to add, Mr. Taylor responds, “A very important lead product is cash management, which involves real-time information reporting on cash in-flows and out-flows. Customers can validate that a check has been issued and payment is appropriate. When interest rates are higher than they are today, it becomes much more important for them to take excess balances and put them to work by reducing their outstanding loan or in some kind of investment account. As far as diversification of financial services, some banks have been successful in providing insurance and investment banking, while others have not. A lot of banks that were focused on capital markets activity have either closed down those operations or split them up because they have not been successful. Given our mid-market customer base, these services are not as applicable as they would be to the large corporate market. However, if some of our larger customers needed capital markets services, we would explore providing those to them through a financial partner.” Addressing investors Mr. Taylor says, “The opportunity for us to grow our market share and improve our financial results significantly is real. Speaking as a 60% owner of Cole Taylor, I think the version of relationship banking that we practice works. We relate to a business owner in a way that other banks cannot, and that resonates with our customer base and the marketplace. Also, the marketplace in Chicago has changed; huge money-center banks have swallowed up most banks of our size. Employee turnover, strategic shifts, and decreasing service levels in these big banks have left business owners very unsatisfied. Business owners want consistency, they want high quality, and they want a personal relationship with their bank – and that is what Cole Taylor delivers.” Cole Taylor’s customers consist of small- to
mid-size businesses (annual revenues of up to $50 million), accountants, lawyers and
medical professionals, commercial real estate developers, as well as the owners and
managers of the companies comprising these various business segments. For the fourth
consecutive term, Cole Taylor Bank has earned an “outstanding” rating from the
Federal Reserve Bank of Chicago for its Community Reinvestment Act (CRA) performance.
The bank’s commitment to the communities it serves, it’s dedication to
high-quality servicing of its customers, and its unique understanding of the business
owner’s needs continue to differentiate the organization from competing financial
institutions. |
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