Federal Reserve Board announces approval of applications by Canadian Imperial Bank of Commerce and CIBC Holdco Inc.

The following press release was published by the Board of Governors of the Federal Reserve System on June 7, 2017. It is reproduced in full below.

The Federal Reserve Board on Wednesday announced its approval of the applications under section 3 of the Bank Holding Company Act of 1956 by Canadian Imperial Bank of Commerce, Toronto, Canada, and CIBC Holdco Inc., New York, New York, to acquire PrivateBancorp, Inc., and thereby indirectly acquire its wholly owned subsidiary, The PrivateBank and Trust Company, both of Chicago, Illinois.

Attached is the Board's order relating to this action.

For media inquiries, call 202-452-2955.

Source: Board of Governors of the Federal Reserve System