Pledge Made Publicly Available on Bank’s
Website
Signature Bank (Nasdaq: SBNY), a New York-based full-service
commercial bank, announced today that it deepened its commitment to
the community with the release of its pledge for ensuring best
practices for multifamily real estate lending throughout New York
City. The pledge can be accessed through the Bank’s website
here.
At the end of 2017, Signature Bank’s loan portfolio included
$14.4 billion in multifamily loans, of which $11.5 billion or 79
percent, were for properties located within the five boroughs of
New York City, in census areas designated as low-to-moderate income
(LMI).
The Bank also focuses on some of the most urgently needed
housing within the local community. In 2017 alone, the Bank
provided financing for 1,284 units of supported housing (housing
for the formerly homeless and 100 percent Section 8 Voucher
recipients).
Signature Bank’s lending in the multifamily sector has enabled
building owners to maintain and improve some of New York’s older
housing stock, including a significant number of pre-World War II
buildings. As a major lender in these vital and vibrant sectors of
New York City, Signature Bank recognizes its responsibility to
tenants and the communities in which it lends.
Signature Bank supports the Association for Neighborhood &
Housing Development’s best practices upon which this pledge was
modeled.
About Signature Bank
Signature Bank, member FDIC, is a New York-based full-service
commercial bank with 30 private client offices throughout the New
York metropolitan area, including those in Manhattan, Brooklyn,
Westchester, Long Island, Queens, the Bronx, Staten Island and
Connecticut. The Bank’s growing network of private client banking
teams serves the needs of privately owned businesses, their owners
and senior managers.
Signature Bank’s specialty finance subsidiary, Signature
Financial, LLC, provides equipment finance and leasing. Signature
Securities Group Corporation, a wholly owned Bank subsidiary, is a
licensed broker-dealer, investment adviser and member FINRA/SIPC,
offering investment, brokerage, asset management and insurance
products and services.
Since commencing operations in May 2001, the Bank has grown to
$44.44 billion in assets, $33.25 billion in loans, $34.82 billion
in deposits, $4.00 billion in equity capital and $3.66 billion in
other assets under management as of March 31, 2018. Signature
Bank's Tier 1 and risk-based capital ratios are significantly above
the levels required to be considered well capitalized.
Signature Bank, with more than $44 billion in assets, is ranked
the 40th largest bank in the U.S. from nearly 6,000, based on
deposits (SNL Financial). The Bank recently earned several
third-party recognitions, including: appeared on Forbes' Best Banks
in America list for the eighth consecutive year in 2018; named Best
Private Bank and Best Attorney Escrow Services provider and among
the top three Best Business Banks for the eighth consecutive year
by the New York Law Journal in the publication’s annual Best of
Reader survey; and, cited in the top three of the nation's best
private banking services providers in the 2017 Best of The National
Law Journal reader rankings.
For more information, please visit www.signatureny.com.
This press release and oral statements made from time to time by
our representatives contain "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995
that are subject to risks and uncertainties. You should not place
undue reliance on those statements because they are subject to
numerous risks and uncertainties relating to our operations and
business environment, all of which are difficult to predict and may
be beyond our control. Forward-looking statements include
information concerning our future results, interest rates and the
interest rate environment, loan and deposit growth, loan
performance, operations, new private client teams and other hires,
new office openings and business strategy. These statements often
include words such as "may," "believe," "expect," "anticipate,"
"intend," “potential,” “opportunity,” “could,” “project,” “seek,”
“should,” “will,” would,” "plan," "estimate" or other similar
expressions. As you consider forward-looking statements, you should
understand that these statements are not guarantees of performance
or results. They involve risks, uncertainties and assumptions that
could cause actual results to differ materially from those in the
forward-looking statements and can change as a result of many
possible events or factors, not all of which are known to us or in
our control. These factors include but are not limited to: (i)
prevailing economic conditions; (ii) changes in interest rates,
loan demand, real estate values and competition, any of which can
materially affect origination levels and gain on sale results in
our business, as well as other aspects of our financial
performance, including earnings on interest-bearing assets; (iii)
the level of defaults, losses and prepayments on loans made by us,
whether held in portfolio or sold in the whole loan secondary
markets, which can materially affect charge-off levels and required
credit loss reserve levels; (iv) changes in monetary and fiscal
policies of the U.S. Government, including policies of the U.S.
Treasury and the Board of Governors of the Federal Reserve System;
(v) changes in the banking and other financial services regulatory
environment and (vi) competition for qualified personnel and
desirable office locations. Although we believe that these
forward-looking statements are based on reasonable assumptions,
beliefs and expectations, if a change occurs or our beliefs,
assumptions and expectations were incorrect, our business,
financial condition, liquidity or results of operations may vary
materially from those expressed in our forward-looking statements.
Additional risks are described in our quarterly and annual reports
filed with the FDIC. You should keep in mind that any
forward-looking statements made by Signature Bank speak only as of
the date on which they were made. New risks and uncertainties come
up from time to time, and we cannot predict these events or how
they may affect the Bank. Signature Bank has no duty to, and does
not intend to, update or revise the forward-looking statements
after the date on which they are made. In light of these risks and
uncertainties, you should keep in mind that any forward-looking
statement made in this release or elsewhere might not reflect
actual results.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20180720005072/en/
Signature BankInvestor
Contact:Eric R. Howell, 646-822-1402Executive Vice President
–Corporate and Business
Developmentehowell@signatureny.comorMedia
Contact:Susan J. Lewis,
646-822-1825slewis@signatureny.com
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