Parent Company Only Financial Statements

12 Months Ended

Dec. 31, 2011

Parent Company Only Financial Statements [Abstract]

Parent Company Only Financial Statements

21. Parent Company Only Financial Statements

Summarized financial information of Taylor Capital Group, Inc. is as follows:

BALANCE SHEETS

(in thousands)

	December 31,
	2011		2010
ASSETS
Deposits with bank subsidiary	$	45,018	$	23,106
Investment in bank subsidiary		463,812		291,684
Investment in non-bank subsidiaries		2,610		2,611
Other assets		18,458		12,048
Total assets	$	529,898	$	329,449
LIABILITIES AND STOCKHOLDERS' EQUITY
Accrued interest, taxes and other liabilities	$	749	$	1,343
Junior subordinated debentures		86,607		86,607
Subordinated notes, net		33,014		32,698
Stockholders' equity		409,528		208,801
Total liabilities and stockholders' equity	$	529,898	$	329,449

STATEMENTS OF OPERATIONS

(in thousands)

	For the Years Ended December 31,
	2011			2010			2009
Income:
Interest on deposits with subsidiary bank	$	189		$	560		$	896
Dividends from non-bank subsidiary		171			171			180
Total income		360			731			1,076
Expenses:
Interest		9,177			7,807			6,610
Salaries and employee benefits		63			87			139
Legal fees, net		406			234			410
Other		2,364			1,706			1,693
Total expenses		12,010			9,834			8,852
Loss before income taxes and equity in undistributed net loss of subsidiaries		(11,650	)		(9,103	)		(7,776	)
Income tax benefit		12,189			3			204
Equity in undistributed net income (loss) of subsidiaries		90,576			(44,723	)		(23,978	)
Net income (loss)	$	91,115		$	(53,823	)	$	(31,550	)

STATEMENTS OF CASH FLOWS

(in thousands)

	For the Years Ended December 31,
	2011			2010			2009
Cash flows from operating activities:
Net income (loss)	$	91,115		$	(53,823	)	$	(31,550	)
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization of stock-based compensation		63			87			130
Equity in undistributed net (income) loss of subsidiary		(90,576	)		44,723			23,978
Gain on sale of other real estate		(119	)		(338	)		—
Other, net		—			—			(16	)
Changes in assets and liabilities:
Deferred taxes		(12,017	)		—			—
Other assets		156			(450	)		3,289
Other liabilities		463			652			(1,063	)
Net cash used in operating activities		(10,915	)		(9,149	)		(5,232	)
Cash flows from investing activities:
Capital contributed to subsidiary bank		(25,000	)		(60,000	)		(15,000	)
Purchase of foreclosed property		—			(11,117	)		—
Proceeds from sale of foreclosed property		5,289			4,498			—
Other, net		281			57			(178	)
Net cash used in investing activities		(19,430	)		(66,562	)		(15,178	)
Cash flows from financing activities:
Repayments of notes payable		—			(12,000	)		—
Dividends paid		(5,983	)		(8,613	)		(10,166	)
Net proceeds from the issuance of warrants		81			—			—
Net proceeds from the issuance of preferred stock		24,350			36,245			(27	)
Net proceeds from the issuance of common stock		33,800			(21	)		—
Net proceeds from the issuance of subordinated notes		—			37,322			—
Proceeds from the exercise of employee stock options		9			5			—
Net cash provided by (used in) financing activities		52,257			52,938			(10,193	)
Net increase (decrease) in cash and cash equivalents		21,912			(22,773	)		(30,603	)
Cash and cash equivalents, beginning of year		23,106			45,879			76,482
Cash and cash equivalents, end of year	$	45,018		$	23,106		$	45,879