<DOCUMENT>
<TYPE>EX-21.1
<SEQUENCE>9
<FILENAME>dex211.txt
<DESCRIPTION>LIST OF SUBSIDIARIES
<TEXT>
<PAGE>


                                                                    EXHIBIT 21.1

                              LIST OF SUBSIDIARIES

     The following is a list of the direct and indirect subsidiaries of
PrivateBancorp, Inc. as of December 31, 2002:

                                                           Jurisdiction of
Subsidiary                                         Incorporation or Organization
-----------------------------------                -----------------------------

The Private Bank & Trust Company                               Illinois

Lodestar Investment Counsel, LLC                               Delaware
(a subsidiary of The Private Bank & Trust Company)

The PrivateBank                                                National

PrivateBancorp Capital Trust I                                 Delaware

Private Investment Limited Partnership I                       Illinois


</TEXT>
</DOCUMENT>