Exhibit 12.1

PrivateBancorp, Inc.

Calculation of Ratio of Earnings to Fixed Charges

(Dollars in thousands)

	Year Ended December 31,
	2005			2004			2003			2002			2001
Including Interest on Deposits
Earnings:
Earnings before income taxes	$	48,637		$	37,498		$	26,571		$	14,277		$	8,251
Fixed charges from below		80,032			39,568			30,354			31,241			37,637
Earnings	$	128,669		$	77,066		$	56,925		$	45,518		$	45,888
Fixed charges:
Interest expense	$	80,032		$	39,568		$	30,354		$	31,241		$	37,637
Interest portion of fixed rentals(1)		—			—			—			—			—
Total interest expense	$	80,032		$	39,568		$	30,354		$	31,241		$	37,637
Ratio of Earnings to Fixed Charges		1.61	x		1.95	x		1.88	x		1.46	x		1.22	x
Excluding Interest on Deposits
Earnings:
Earnings before income taxes	$	48,637		$	37,498		$	26,571		$	14,277		$	8,251
Fixed charges from below		17,383			8,598			6,442			7,264			8,058
Earnings	$	66,020		$	46,096		$	33,013		$	21,541		$	16,309
Fixed charges:
Interest expense excluding interest on deposits	$	17,383		$	8,598		$	6,442		$	7,264		$	8,058
Interest portion of fixed rentals(1)		—			—			—			—			—
Total Interest expense	$	17,383		$	8,598		$	6,442		$	7,264		$	8,058
Ratio of Earnings to Fixed Charges		3.80	x		5.36	x		5.12	x		2.97	x		2.02	x

(1) The Company is not a party to any capital leases; therefore, this item is not applicable. All leases are operating leases.