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PrivateBancorp Q1 Net Income Rises - Quick Facts

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PrivateBancorp, Inc. (PVTB: Quote) Tuesday released financial results for the first quarter of 2012, reporting net income available to common shareholders of $10.80 million or $0.15 per share, higher than net income of $7.5 million or $0.10 per share reported for the corresponding quarter last year.

Net Revenue for the first quarter increased to $32.60 million from $127.0 million in the same quarter a year earlier. Non-interest income for the quarter increased to $27.50 million from $23.63 million reported for the year-ago quarter.

Analysts polled by Thomson Reuters expected the company to earn $0.12 per share on revenues of $126.18 million for the quarter. Analysts' estimates typically exclude special items.

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by RTT Staff Writer

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After moving sharply lower in early trading on Wednesday, stocks have seen continued weakness over the course of the trading session. Will the pullback, the major averages are adding to the modest losses posted in the two previous sessions. With spending on private and public construction both showing notable decreases, the Commerce Department released a report on Wednesday showing an unexpected drop in U.S. construction spending in the month of August. Growth in U.S. manufacturing activity saw a notable slowdown in the month of September, according to a report released by the Institute for Supply Management on Wednesday, with the index of activity in the sector pulling back off a three-year high.
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