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May 19, 2004

Signature Bank Appoints Two Private Client Groups to Operate from Newly Opened Rockville Centre and Melville, NY Locations

Signature Bank Appoints Two Private Client Groups to Operate from Newly Opened Rockville Centre and Melville, NY Locations

NEW YORK--(BUSINESS WIRE)--May 19, 2004--Signature Bank, a New York-based full-service commercial bank, announced today the appointment of two private client groups at new offices in Rockville Centre and Melville, NY. The private client offices bring the Bank's total number of locations to 11 with three of those being on Long Island.

Rockville Centre: The Lucy Iannucci Private Client Group

Banking industry veteran, Lucy Iannucci, has been named a Group Director and Senior Vice President at Signature Bank's new Rockville Centre location at 279 Sunrise Highway (516-408-5080). Iannucci had more than 20 years of banking-related experience prior to joining Signature Bank at the opening of its Garden City office in 2002.

Previously, Iannucci was a Vice President and Branch Manager of two of Citibank's Rockville Centre locations where her outstanding service helped these two locations surpass deposit and loan growth rates. Iannucci began her career at European American Bank (EAB) in 1979, serving eight years as the Branch Manager of EAB's Merrick location and then five years as the manager of EAB/Citibank's two Rockville Centre locations. She graduated summa cum laude from Adelphi University in 1981, and also graduated first in class from the Consumer Bankers Association Graduate School at the McIntyre School of Commerce (University of Virginia) in 1997.

Iannucci's former EAB/Citibank colleagues including Senior Client Associates Barbara Hagstrand, Isabelle Santora and Tracey Calise joined her at Signature Bank. The team had been operating out of Signature's Garden City location prior to the opening of the Rockville Centre private client office. Hagstrand was an Operations Manager while Santora and Calise were Service Managers at EAB/Citibank. Combined, the group has more than 100 years banking experience.

Melville: The Thomas A. Rogers Private Client Group

Located just off the Long Island Expressway (Round Swamp Road, Exit 48) at 58 South Service Road is Signature's Melville location (516-214-0880). The Melville office is home to the Thomas A. Rogers Private Client Group.

Thomas A. Rogers, Group Director and Senior Vice President, joins Signature Bank with more than thirty years of banking experience. His career began at Chemical Bank/Long Island Trust. He spent the past 18 years at National Westminster Bank (purchased by Fleet and recently acquired by Bank of America). As a Senior Vice-President at NatWest and Fleet, Rogers headed up the Small Business/Community Lending business in Nassau and Suffolk counties. During the past twelve years, Rogers initiated and developed a specialized Contractor Lending Team, which focused on companies involved in construction, including general contractors, subcontractors and the electrical and plumbing trades.

At Signature Bank, Roger's goal is to continue focusing on the contracting industry while also developing banking relationships with commercial concerns in the middle market. Roger's holds a bachelor of science degree in economics from Manhattan College and a master's degree in accounting from C.W. Post College.

Two additional members from Fleet were appointed to support the Roger's team. Nancy Foran-Pinzon, an Associate Group Director, has more than 24 years of commercial banking experience all at NatWest/Fleet where she reached the level of Portfolio Manager and Vice President. For the past eight years, Foran-Pinzon worked directly with Rogers on the Contractor Lending Team at Fleet. She earned her bachelor of science degree in finance from Babson College.

Also joining the Roger's team at Signature's new Melville office is Camille Maucere, who will serve as the Senior Client Associate for the group. Maucere brings more than 25 years commercial and retail banking experience to her new role. She spent the past eleven years with NatWest/Fleet; most recently serving as a Vice President for the Cash Management Services Group for the Long Island Middle Market and Small Business Services segments. Maucere holds a bachelor of science degree from Adelphi University in Management and Communications.

The Rogers group in Melville is complemented by the addition of Senior Lender, Lisa Lewis. Lewis joins Signature after nine years of service as a Vice President of Middle Market Lending at Long Island's North Fork Bank. Lewis' lending expertise and knowledge of the local marketplace will support the business development efforts of the Melville office. Lewis graduated from Cornell University and holds masters degree in banking and finance from Hofstra University.

"In keeping with our growth strategy, we have assembled yet two more teams of top banking industry professionals at the Rockville Centre and Melville offices, both of whom have built their careers on providing the highest level of service to clients. Their experience and strong ties to privately owned businesses, their owners and senior managers in the area will be invaluable in helping us to serve a growing number of businesses, professionals and affluent individuals," said Joseph J. DePaolo, Chief Executive Officer for Signature Bank.

"Long Island continues to present tremendous growth opportunity for Signature Bank. These locations, coupled with our Garden City office, will allow us to better service the needs of our Manhattan and Long Island clientele," DePaolo concluded.

Signature Bank's Vice Chairman, John Tamberlane, added: "Recruiting highly regarded relationship managers like Lucy and Tom has been, and will continue to be, the key to our success and the forefront of our strategy. We look forward to supporting their efforts to meet the financial needs of our Long Island clientele and to bringing Signature's services to new clients throughout Long Island."

Signature plans on adding additional banking and investment teams to each of its Long Island locations as recruiting efforts continue.

Signature Bank, member FDIC, is a New York-based full-service commercial bank with 11 locations throughout the New York metropolitan area serving the needs of privately owned business clients, their owners and senior managers through dozens of private client and investment groups. The Bank offers a wide variety of business and personal banking products and services as well as investment, brokerage, asset management and insurance products and services through its non-bank subsidiary, Signature Securities Group Corporation, a licensed broker-dealer, investment adviser, and member NASD/SIPC.

Since commencing operations in May 2001, the Bank has grown to approximately $2 billion in assets, $1.74 billion in deposits, $259 million in equity capital and approximately $854 million in other assets under management as of March 31, 2004.

Signature Bank's 11 locations are: In Manhattan: 261 Madison Avenue; 300 Park Avenue; 71 Broadway; 565 Fifth Avenue and 950 Third Avenue. In Brooklyn: 26 Court Street and 84 Broadway. In Westchester: 1C Quaker Ridge Road in New Rochelle. In Long Island: 1225 Franklin Avenue in Garden City; 279 Sunrise Highway in Rockville Centre and 58 South Service Road in Melville. For more information, please visit www.signatureny.com.

This press release may contain statements, including but not limited to, statements concerning future results of operations or financial position, borrowing capacity and future liquidity, future investment results, future credit exposure, future loan losses and plans and objectives for future operations, and other statements regarding matters that are not historical facts, that are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are not historical facts but instead are subject to numerous assumptions, risks and uncertainties, and represent only the Bank's belief regarding future events, many of which, by their nature, are inherently uncertain and outside of its control. Any forward-looking statements the Bank may make speak only as of the date on which such statements are made. It is possible that the Bank's actual results and financial position may differ, possibly materially, from the anticipated results and financial condition indicated in or implied by these forward-looking statements.

Contact:

Investor Contact:
Eric R. Howell
Chief Financial Officer
(646) 822-1402 or ehowell@signatureny.com

Media Contact:
Susan J. Lewis
(303) 804-0494 or slewis@signatureny.com