Founded in 1989 as The PrivateBank and Trust Company (doing business as The PrivateBank), a subsidiary of PrivateBancorp Inc., the company became a subsidiary of the Toronto-based Canadian Imperial Bank of Commerce (CIBC) after a US$5 billion acquisition in June 2017.

CIBC Bank is one of the largest banking institutions in the United States PrivateBancorp was incorporated in Delaware in 1989, and opened its first office in Chicago in 1991.

[5] Its previous unsuccessful operations, CIBC National Bank and Amicus Federal Savings Bank, were founded in 2000 to provide co-branded banking services for supermarket chains and both entered voluntary liquidation in 2003.

[6][7][8] The PrivateBancorp acquisition was the largest in CIBC's history.

[10] The theater officially adopted the CIBC branding on September 18, 2017.