8-K

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

Form 8-K

CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): August 23, 2005

PRIVATEBANCORP, INC.

(Exact name of Registrant as specified in its charter.)

Commission File Number: 000-25887

Delaware (State or other jurisdiction of incorporation or organization)	36-3681151 (I.R.S. Employer Identification Number)
Ten North Dearborn Street Chicago, Illinois (Address of principal executive offices)	60602 (Zip Code)

(312) 683-7100

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the fling obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 7.01 REGULATION FD DISCLOSURE.

On August 23, 2005, The PrivateBank - St. Louis, a subsidiary of PrivateBancorp, Inc., announced that it had signed a lease to occupy 8,000 square feet and open its second St. Louis area office at 500 Chesterfield Parkway, across from the Chesterfield Mall. The Bank expects to occupy the Chesterfield location before the end of the first quarter, 2006. Attached as Exhibit 99.1 is a copy of the press release relating to the Bank’s announcement, which is incorporated herein by reference.

Note: the information in this report (including the exhibits) is furnished pursuant to Item 7.01 and shall not be deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section, or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing. This report will not be deemed a determination or an admission as to the materiality of any information in the report that is required to be disclosed solely by Regulation FD.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	PRIVATEBANCORP, INC.
By:	/s/ Ralph B. Mandell
Name:	Ralph B. Mandell
Title:	Chairman, President and
	Chief Executive Officer
Date:	August 23, 2005

INDEX TO EXHIBITS

Exhibit
99.1	Press Release dated August 23, 2005

EX-99.1

For further information contact:

Richard C. Jensen

Chairman and CEO

The PrivateBank-St. Louis

314-301-2200

For immediate release:

The PrivateBank-St. Louis to Open Second Location

Office to be Located in Chesterfield

St. Louis, MO, August 23, 2005 - The Private Bank - St. Louis, a unit of PrivateBancorp, Inc. (NASDAQ:PVTB), today announced that it has signed a lease to occupy 8,000 square feet and open its second St. Louis area office at 500 Chesterfield Parkway, across from the Chesterfield Mall. The Bank expects to occupy the Chesterfield location before the end of the first quarter, 2006.

“With over 8,000 high income households within five miles, the planned Chesterfield office is a natural expansion site for our Bank,” said Richard C. Jensen, Chairman and CEO, The PrivateBank-St. Louis. “Furthermore, the presence of six thousand businesses within a five mile radius presents a fertile opportunity to expand our unique brand of private banking across St. Louis County.”

The full service office will offer private and commercial banking services, trust and wealth management services as well as drive-in tellers, an ATM and safe deposit services. The office will be located on the main floor of a 40,000 square foot, glass three-story office building. The Bank will have exterior signage on both the top north and top west sides of the building, facing I-64.

The Bank’s St. Louis headquarters office is located at 1401 South Brentwood.

Arcturis, Inc. has been selected to provide design and architectural services. Sachs Properties owns and manages the building.

The Private Bank - St. Louis is a unit of the PrivateBancorp, Inc. which was organized in 1989 to provide highly personalized financial services primarily to affluent individuals, professionals, owners of closely held businesses and commercial real estate investors. The Company uses a European tradition of “private banking” as a model to develop lifetime relationships with its clients. Utilizing a team of highly qualified managing directors, The PrivateBank tailors products and services to meet each client’s needs in personal and commercial banking services and wealth management services. The Company, which had assets of $3.2 billion as of June 30, 2005, currently has banking offices in downtown Chicago, Chicago’s Gold Coast, Wilmette, Oak Brook, St. Charles, Lake Forest, Winnetka, and Geneva, Illinois; in Bloomfield Hills, Rochester and Grosse Pointe, Michigan; in St. Louis, Missouri; and in Milwaukee, Wisconsin.

Additional information can be found in the Investor Relations section of PrivateBancorp, Inc.’s website at http://www.pvtb.com.