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A CIBC sign is seen outside of an Ottawa branch in 2016.Chris Wattie/Reuters

The Canadian Imperial Bank of Commerce is extending its brand across the U.S. by renaming dozens of recently purchased locations south of the border as CIBC Bank USA.

The Canadian lender closed its acquisition of Chicago-based PrivateBancorp in June.

Today, the bank announced it is replacing the U.S. company's brand called The PrivateBank with the CIBC name on 36 branches and commercial banking offices.

A soccer field and a theatre in Chicago have also been renamed as the CIBC Fire Pitch and the CIBC Theatre.

CIBC bought the U.S. bank for approximately $5-billion US in a bid to secure its foothold in the country.

The Canadian bank has said it hopes to one day generate a quarter of its earnings in the U.S.

Associate portfolio manager James McCreath explains it can be risky to depend too much on a defined-benefit pension plan to provide retirement income, and says additional retirement savings are advisable

The Canadian Press

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SymbolName% changeLast
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Canadian Imperial Bank of Commerce
+0.74%47.57
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Canadian Imperial Bank of Commerce
+0.63%65.43

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