Named Best in Business Bank, Private Bank and
Attorney Escrow Services Categories; Ranks in Top Three in Business
Bank Category for 10th Consecutive Year
Signature Bank (Nasdaq: SBNY), a New York-based full-service
commercial bank, announced today it was named #1 in the Business
Bank, Private Bank and Attorney Escrow Services categories of the
New York Law Journal’s “Best of” 10th annual survey of the New York
legal community. Furthermore, 2019 also marks the 10th consecutive
year in which Signature Bank earned a top three position in one or
more of those same categories.
With this year’s ranking, Signature Bank again earned a place in
New York Law Journal’s Hall of Fame. The Hall of Fame is awarded to
entities that placed in "Best of" for at least three of the past
four years thus repeatedly receiving the highest ratings from New
York Law Journal readers and the New York legal community.
The rankings, which were revealed in the October 7, 2019 edition
of the New York-area’s leading legal trade publication, reflect the
votes of thousands of attorneys and other legal professionals, who
were eligible to cast votes in 80+ legal-related categories. The
voting process is purely democratic, and results represent the
candid opinions of New York Law Journal readers and members of the
New York legal community.
Since 2010 when the New York Law Journal began surveying its
readers for this “Best of” listing, Signature Bank has consistently
secured the top spot or ranked in the top three in the Business
Bank, Private Bank and Attorney Escrow Services categories. For the
past 10 consecutive years, the Bank has been voted the Best
Business Bank five times. It is also the ninth consecutive year
where Signature Bank ranked in the top three of the Private Bank
category (number one for the past three years), and the eighth
straight year it placed in the top three in the Attorney Escrow
Services category (including ranking number one for the past three
straight years and five times overall).
CATEGORY
2019
2018
2017
2016
2015
2014
2013
2012
2011
2010
Business Bank
#1
#1
#2
#1
#1
#1
#2
#3
#3
#2
Private Bank
#1
#1
#1
#2
#2
#2
#2
#3
#2
--
Attorney Escrow Services
#1
#1
#1
#2
#1
#2
#1
#2
--
--
“For the past decade, Signature Bank consistently led in
categories of the New York Law Journal’s rankings where we competed
with some of the world’s largest mega-banks. This is a true
testament to our commitment to client care and the tireless efforts
of our colleagues. The Bank was established to offer commercial
clients highly personalized service, and this client-centric model
is what earned the Bank recurrent outstanding placement on New York
Law Journal’s list,” said Signature Bank President and Chief
Executive Officer Joseph J. DePaolo.
“The law firms we serve have come to rely on the level of care
and attention to detail we provide. We are honored they took time
to cast their votes for Signature Bank. We thank the New York Law
Journal for offering a platform where attorney and legal
professionals are afforded the chance to express their opinions,
and appreciate continually being recognized as a banking leader
throughout New York’s legal community,” DePaolo said.
The New York Law Journal is a reliable news source for
attorneys, designed to keep the fast-paced New York-area legal
community up-to-date on 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
$48.88 billion in assets, $37.93 billion in loans, $37.54 billion
in deposits, $4.66 billion in equity capital and $3.53 billion in
other assets under management as of June 30, 2019. 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 ninth
consecutive year in 2019; and, named number one in the Business
Bank, Private Bank and Attorney Escrow Services categories by the
New York Law Journal in the publication’s annual “Best of” survey
for 2019, 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). The Bank
also ranked second nationally in the Business Bank, Private Banking
Services and Attorney Escrow Service categories of the National Law
Journal’s 2019 “Best of” survey.
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/20191007005131/en/
Investor Contact: Eric R. Howell,
Executive Vice President – Corporate and Business Development
646-822-1402 ehowell@signatureny.com Media
Contact: Susan Turkell Lewis 646-822-1825
slewis@signatureny.com
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