Signature Bank (Nasdaq: SBNY), a New York-based full-service
commercial bank, announced today it ranked second in the U.S. in
three categories of the National Law Journal’s eighth annual
readers’ poll, wherein readers cast their votes for the best
providers of services and goods to the legal profession. The
categories include Best Business Bank, Best Private Banking
Services and Best Attorney Escrow Services.
Every year, the National Law Journal polls the legal community
nationally on the best products and services for their law office
practices. From data technology products and banking services to
litigation support and alternative dispute resolution providers,
National Law Journal’s “Best of” survey showcases the businesses
that stand out among their competitors.
The rankings, which were revealed in the March 2019 edition of
this national legal trade publication, reflect the votes of nearly
7,000 attorneys and other legal professionals, who were presented
an opportunity to vote in more than 75 legal-related categories.
The voting process is purely democratic, and results represent the
opinions of National Law Journal readers as well as members of the
national legal community.
“Signature Bank continues to demonstrate its commitment to
providing unparalleled client care and service to local
communities. Law firms comprise a significant portion of our
overall commercial client base of privately owned businesses. We
are honored to earn this prestigious ranking nationwide,
which comes on the heels of being named the top bank in the same
three categories of the 'Best of' survey by New York Law Journal, a
sister publication of the National Law Journal. We appreciate that
attorneys in New York and around the country took the time to cast
their votes for Signature Bank, and acknowledge our efforts on
behalf of their community,” said President and Chief Executive
Officer Joseph J. DePaolo.
The National Law Journal is a reliable news outlet for
attorneys, designed to keep the legal community nationwide abreast
of industry trends and developments. The publication is owned by
ALM, a global leader in specialized business news and information
serving the legal, real estate, consulting, insurance and
investment advisory industries.
About Signature Bank
Signature Bank, member FDIC, is a New York-based full-service
commercial bank with 31 private client offices throughout the New
York metropolitan area and Connecticut as well as San Francisco.
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.
Signature Bank recently introduced its revolutionary,
blockchain-based digital payments platform, Signet™, enabling
real-time payments for its commercial clients. The Signet Platform
allows the Bank’s commercial clients to make payments in U.S.
dollars, 24/7/365, safely and securely, without transaction fees.
Signature Bank is the first FDIC-insured bank to launch a
blockchain-based digital payments platform, and Signet is the first
such platform to be approved for use by the NYS Department of
Financial Services.
Since commencing operations in May 2001, the Bank has grown to
$47.36 billion in assets, $36.42 billion in loans, $36.38 billion
in deposits, $4.41 billion in equity capital and $3.78 billion in
other assets under management as of December 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 is one of the top 40 largest banks in the U.S.,
based on deposits (S&P Global Market Intelligence). The Bank
recently earned several third-party recognitions, including:
appeared on Forbes' Best Banks in America list for the eighth
consecutive year in 2018; and, named Best Business Bank, Best
Private Bank and Best Attorney Escrow Services provider by the New
York Law Journal in the publication’s annual “Best of” survey for
2018, earning it a place in the New York Law Journal’s Hall of Fame
(awarded to companies that have ranked in the “Best of” Survey for
at least three of the past four years).
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20190301005033/en/
Signature BankInvestor
Contact:Eric R. HowellExecutive Vice President – Corporate
and Business
Development646-822-1402ehowell@signatureny.comMedia Contact:Susan J.
Lewis646-822-1825slewis@signatureny.com
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