CIBC Bank USA

CIBC Bank USA
FormerlyThe PrivateBank and Trust Company[1]
Company typeSubsidiary
Nasdaq: PVTB (1999–2017)
IndustryFinancial services
Founded1989; 35 years ago (1989)
Headquarters120 South LaSalle Street,
ProductsConsumer Banking, Corporate Banking, Insurance, Investment Banking, Mortgage loans, Private Banking, Private Equity, Wealth Management, Credit Cards, Financial Analysis
AUM$9.6 billion
Total assets$17.7 billion (2016)
ParentCanadian Imperial Bank of Commerce (CIBC)
Websiteus.cibc.com

CIBC Bank USA is an American commercial bank headquartered in Chicago, Illinois. Founded in 1989 as The PrivateBank and Trust Company (doing business as The PrivateBank), a subsidiary of PrivateBancorp Inc., the company became a subsidiary of the Toronto-based Canadian Imperial Bank of Commerce (CIBC) after a US$5 billion acquisition in June 2017.[2] This acquisition marks the Canadian bank's second formal entry into the American retail and investment banking market. CIBC Bank is one of the largest banking institutions in the United States

  1. ^ Cite error: The named reference about tpb was invoked but never defined (see the help page).
  2. ^ Channick, Robert (August 16, 2017). "PrivateBank changing name to CIBC Bank USA after $5 billion deal". Chicago Tribune. Retrieved May 11, 2018.