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<P ALIGN="CENTER"><A NAME="_DV_M0"></A>UNITED STATES</P>


<P ALIGN="CENTER"><A NAME="_DV_M1"></A>SECURITIES AND EXCHANGE COMMISSION</P>


<FONT SIZE=2><P ALIGN="CENTER"><A NAME="_DV_M2"></A>Washington, D.C. 20549</P>


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</FONT><FONT SIZE=5><P ALIGN="CENTER"><A NAME="_DV_M3"></A>FORM 8-K</P>


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<B><P ALIGN="CENTER"><A NAME="_DV_M4"></A>CURRENT REPORT</P>


<P ALIGN="CENTER"><A NAME="_DV_M5"></A>Pursuant to Section 13 OR 15(d) of </P>


<P ALIGN="CENTER"><A NAME="_DV_M6"></A>The Securities Exchange Act of 1934</P>


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<P ALIGN="CENTER"><A NAME="_DV_M7"></A>Date of Report (Date of Earliest Event Reported):  <U> June 14, 2005</P>


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<U><P ALIGN="CENTER"><A NAME="_DV_M8"></A>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taylor Capital Group, Inc.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>


</U><FONT SIZE=2><P ALIGN="CENTER"><A NAME="_DV_M9"></A>(Exact name of registrant as specified in its charter)</P>


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<B><P ALIGN="CENTER">Delaware</B></TD>


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<B><P ALIGN="CENTER">0-50034</B></TD>


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<B><P ALIGN="CENTER">36-4108550</B></TD>


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<B><FONT SIZE=2><P ALIGN="CENTER">(State or other jurisdiction of incorporation)</B></FONT></TD>


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<B><FONT SIZE=2><P ALIGN="CENTER">(Commission File Number)</B></FONT></TD>


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<B><FONT SIZE=2><P ALIGN="CENTER">(IRS Employer Identification No.)</B></FONT></TD>


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<P ALIGN="CENTER"><CENTER><TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=456>


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<B><P ALIGN="CENTER">9550 West Higgins Road, Rosemont, Illinois</B></TD>


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<B><P ALIGN="CENTER">60018</B></TD>


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<B><FONT SIZE=2><P ALIGN="CENTER">(Address of principal executive offices)</B></FONT></TD>


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<B><FONT SIZE=2><P ALIGN="CENTER">(Zip Code)</B></FONT></TD>


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<P ALIGN="CENTER"><A NAME="_DV_M10"></A>Registrant</B>'<B>s telephone number, including area code:    <U>(847) 653-7978</P>


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<P><A NAME="_DV_M11"></A>Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):</P>


<P><A NAME="_DV_M12"></A>[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>


<P><A NAME="_DV_M13"></A>[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>


<P><A NAME="_DV_M14"></A>[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P>


<P><A NAME="_DV_M15"></A>[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P>


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<P ALIGN="JUSTIFY"><A NAME="_DV_M16"></A>Item 1.01 Entry into a Material Definitive Agreement.</P>


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<B><I><P ALIGN="JUSTIFY"><A NAME="_DV_M17"></A>Taylor Capital Group, Inc. Salary Continuation Following Death Benefit</P>


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<P ALIGN="JUSTIFY"><A NAME="_DV_M18"></A>&#9;On June 14, 2005, the Compensation Committee (the &quot;Committee&quot;) of the Board of Directors of Taylor Capital Group, Inc. (the &quot;Company&quot;) agreed to provide a salary continuation benefit for each of Jeffrey W. Taylor, Chairman and Chief Executive Officer, and Bruce W. Taylor, President and Chief Executive Officer of Cole Taylor Bank, an Illinois banking corporation and a wholly-owned subsidiary of the Company, (<A NAME="_DV_C1">each, an &quot;Executive Officer&quot; and collectively, <A NAME="_DV_M19"></A></A>the &quot;<A NAME="_DV_M20"></A>Executive Officers&quot;).  Under the arrangement, in the event of the death of <A NAME="_DV_C4">an<A NAME="_DV_M21"></A></A> Executive Officer, the Company would pay to <A NAME="_DV_C6">such<A NAME="_DV_M22"></A></A> Executive Officer's spouse, family, or estate, a salary continuation benefit.  The benefit would be in the amount of one times the <A NAME="_DV_M23"></A>Executive Officer's<A NAME="_DV_M24"></A> base salary<A NAME="_DV_C9"> at the time of his death<A NAME="_DV_M25"></A></A>, payable in twelve equal monthly <A NAME="_DV_C11">installments.  The first installment would be paid to the Executive Officer's spouse, family or estate as soon as possible following his death, and the remaining eleven installments would be paid during the first week of each month thereafter.  An<A NAME="_DV_M26"></A></A> Executive Officer must be an active employee at time of<A NAME="_DV_C12"> his<A NAME="_DV_M27"></A></A> death to be eligible for this salary continuation benefit.</P>


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<P ALIGN="JUSTIFY"><A NAME="_DV_M28"></A>&#9;The Company intends to fund the salary continuation benefit from proceeds <A NAME="_DV_C14">of 20-year term key man life insurance<A NAME="_DV_M29"></A></A> policies purchased by the Company<A NAME="_DV_C16"> in late 2004.<A NAME="_DV_M30"></A></A>  In the event <A NAME="_DV_C18">an<A NAME="_DV_M31"></A></A> Executive Officer is eligible for the salary continuation benefit after the <A NAME="_DV_C20">key man life insurance<A NAME="_DV_M32"></A></A> policies have expired, the Company would<A NAME="_DV_C22"> be obligated to pay such<A NAME="_DV_M33"></A></A> benefit<A NAME="_DV_M34"></A>.</P>


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<P ALIGN="CENTER">SIGNATURE</P>


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<P ALIGN="JUSTIFY"><A NAME="_DV_M38"></A>Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>


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<P ALIGN="JUSTIFY"><A NAME="_DV_M39"></A>Date:   June<A NAME="_DV_C25"> 22,<A NAME="_DV_M40"></A></A> 2005</P>


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<P ALIGN="RIGHT">TAYLOR CAPITAL GROUP, INC.</TD>


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<P ALIGN="RIGHT">By:&#9;</TD>


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<U><P>/s/ DANIEL C. STEVENS</U></TD>


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<P>Daniel C. Stevens</TD>


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<P>Chief Financial Officer</TD>


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{"company-data": {"conformed-name": "TAYLOR CAPITAL GROUP INC", "cik": "0001025536", "assigned-sic": "6022", "irs-number": "364108550", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-50034", "film-number": "05909597"}, "business-address": {"street1": "350 EAST DUNDEE ROAD", "city": "WHEELING", "state": "IL", "zip": "60090", "phone": "8478086369"}, "mail-address": {"street1": "350 EAST DUNDEE ROAD", "city": "WHEELING", "state": "IL", "zip": "60090"}}
UNITED STATES
UNITED STATES
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):
June 14, 2005
Taylor Capital Group, Inc.
(Exact name of registrant as specified in its charter)
Delaware
0-50034
36-4108550
(State or other jurisdiction of incorporation)
(Commission File Number)
(IRS Employer Identification No.)
9550 West Higgins Road, Rosemont, Illinois
60018
(Address of principal executive offices)
(Zip Code)
Registrant
'
s telephone number, including area code:
(847) 653-7978
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
[ ] 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 1.01 Entry into a Material Definitive Agreement.
Taylor Capital Group, Inc. Salary Continuation Following Death Benefit
On June 14, 2005, the Compensation Committee (the "Committee") of the Board of Directors of Taylor Capital Group, Inc. (the "Company") agreed to provide a salary continuation benefit for each of Jeffrey W. Taylor, Chairman and Chief Executive Officer, and Bruce W. Taylor, President and Chief Executive Officer of Cole Taylor Bank, an Illinois banking corporation and a wholly-owned subsidiary of the Company, (
each, an "Executive Officer" and collectively,
the "
Executive Officers").  Under the arrangement, in the event of the death of
an
Executive Officer, the Company would pay to
such
Executive Officer's spouse, family, or estate, a salary continuation benefit.  The benefit would be in the amount of one times the
Executive Officer's
base salary
at the time of his death
, payable in twelve equal monthly
installments.  The first installment would be paid to the Executive Officer's spouse, family or estate as soon as possible following his death, and the remaining eleven installments would be paid during the first week of each month thereafter.  An
Executive Officer must be an active employee at time of
his
death to be eligible for this salary continuation benefit.
The Company intends to fund the salary continuation benefit from proceeds
of 20-year term key man life insurance
policies purchased by the Company
in late 2004.
In the event
an
Executive Officer is eligible for the salary continuation benefit after the
key man life insurance
policies have expired, the Company would
be obligated to pay such
benefit
.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date:   June
22,
2005
TAYLOR CAPITAL GROUP, INC.
By:
/s/ DANIEL C. STEVENS
Daniel C. Stevens
Chief Financial Officer