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Jun 07, 2004

Signature Bank Management to Open the NASDAQ Stock Market; Company Celebrates Listing on National Market

Signature Bank Management to Open the NASDAQ Stock Market; Company Celebrates Listing on National Market

NEW YORK--(BUSINESS WIRE)--June 7, 2004--Signature Bank (Nasdaq:SBNY), a New York-based full-service commercial bank, announced today that management will open the NASDAQ Stock Market on Wednesday, June 9, 2004 at 9:30 AM EDT.

President and Chief Executive Officer Joseph J. DePaolo will preside over the NASDAQ Market Open. He will be joined by Scott A. Shay, Chairman of the Board, along with other members of senior management. The Open will take place at the NASDAQ MarketSite at 4 Times Square in New York.

The NASDAQ Stock Market is welcoming Signature Bank to the Market Open in celebration of its listing on the NASDAQ National Market. On March 23rd, 2004, Signature Bank began trading under the symbol (SBNY) in an initial public offering that totaled 6,210,000 shares of common stock at a price of $15.50 per share (including over-allotments exercised by the underwriters).

Signature Bank, member FDIC, is a New York-based full-service commercial bank with 11 financial centers located 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 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 $2.17 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

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.


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

Media Contact:
Susan J. Lewis
(303) 804-0494 or