Oct. 5, 2009 (PR Newswire) --
CHICAGO, Oct. 5 /PRNewswire-FirstCall/ -- PrivateBancorp, Inc., (Nasdaq: PVTB) today announced a $50,000 donation to Ariel Community Academy in Chicago to be given over the next three years in support of educational initiatives in the classroom, including a financial education curriculum which focuses on the benefits of saving and investing.
"Understanding the ins and outs of managing your money and investments is crucial, and the earlier children can learn the better equipped they will be to thrive," said Larry D. Richman, President and Chief Executive Officer, PrivateBancorp, Inc. "Ariel Community Academy has developed an outstanding program for teaching students these important lessons and we could not be prouder to support their efforts. They stand as an outstanding model for how students, parents, and the community can come together and form an effective and beneficial partnership."
Additionally, The PrivateBank will present a series of educational events focused on various financial topics for Ariel parents. Employees of The PrivateBank will also have the opportunity to participate in a volunteer tutoring program later in the school year.
"We truly appreciate this generous gift and are delighted that The PrivateBank has recognized the investment program at Ariel Community Academy as well as the impact it has on the students, their families and the community as a whole," stated John W. Rogers, Jr., Chairman and CEO of Ariel Investments. "Their support and involvement is a wonderful example of how the private sector can improve the quality of education in underserved neighborhoods in a meaningful way."
About Ariel Community Academy
Ariel Community Academy (ACA) is a public school located on the south side of Chicago which teaches students a unique investing and savings program in addition to a mandated curriculum. Through a partnership with Nuveen Investments, the Ariel-Nuveen Investment Program awards each incoming first grade class a $20,000 grant. As students progress through school, they become actively involved in managing this money. Upon graduation, the original $20,000 is given to the next incoming first-grade class, ensuring the program remains self-perpetuating. ACA believes that introducing the concepts of saving and investing into the classroom at an early age is the most effective way to foster positive lifelong habits. To learn more, visit www.arielinvestments.com.
About PrivateBancorp, Inc.
PrivateBancorp, Inc. is a growing diversified financial services company with 34 offices in 10 states and, as of June 30, 2009, more than $11 billion in assets. Through its subsidiaries, PrivateBancorp delivers customized business and personal financial services to middle-market commercial and commercial real estate companies, as well as business owners, executives, entrepreneurs and families. Visit us at www.theprivatebank.com.
SOURCE PrivateBancorp, Inc.
