Taylor Capital Group Inc. (TAYC), the holding company for Chicago-based Cole Taylor Bank, climbed to the highest in 22 months, extending a rally after returning to profit last year.
The stock advanced 4 percent to $13.65 in New York. It last closed at a higher price on April 27, 2010. The shares have jumped 40 percent this year.
Taylor, which provides commercial-banking services to closely held companies and their owners, said in January that net income applicable to common stockholders amounted to $71.5 million in 2011, compared with a loss of $79.3 million the previous year.
Bank stocks have advanced in 2012 amid optimism that the U.S. economy is improving. The 24-company KBW Bank Index, which includes firms larger than Taylor, has gained 14 percent since the beginning of the year.
To contact the reporter on this story: Patrick Clark in New York at firstname.lastname@example.org
To contact the editor responsible for this story: David Scheer at email@example.com