Taylor Capital Group Inc., Rosemont, Ill., has reported a net loss of $25.3 million ($2.42 per share) for the second quarter, primarily as a result of a $49.4 million provision for largely construction-related loan losses. Taylor Capital, the holding company for Cole Taylor Bank, reported net income of $7.2 million ($0.65 per share) a year earlier. "The unprecedented downturn in the residential real estate market continued into the second quarter, significantly eroding the value of the collateral supporting loans to some of our Chicago-area homebuilder clients," said Bruce W. Taylor, chairman of Taylor Capital.
Processing Content
