Bank Named Best Private Bank and Best Attorney Escrow Services Provider; Ranks in Top Three of Best Business Bank Category for Eighth Consecutive Year
NEW YORK--(BUSINESS WIRE)--Sep. 25, 2017-- Signature Bank (Nasdaq: SBNY), a New York-based full-service commercial bank, announced today it has been named Best Private Bank and Best Attorney Escrow Services provider as well as ranked second in the Best Business category of the New York Law Journal’s eighth annual reader survey, now part of the “Best of” survey supplement. The Bank has placed in the top three of the Best Business Bank category for each of the past eight years, since the New York Law Journalfirst introduced its reader ranking survey.
Every year since 2010, Signature Bank has continually secured the top spot or ranked in the top three in each of the categories in which it placed. In the eight consecutive years Signature Bank has been voted among the top three Best Business Banks, it was number one three times. It is also the seventh consecutive year the Bank was named in the top three of the Best Private Bank category, and the sixth consecutive year it appeared in the top three in the Best Attorney Escrow Services provider category, including ranking number one for the third time.
The rankings, which were revealed in the September 25, 2017 edition of the New York-area’s leading legal trade publication, were based solely on 7,500+ reader-casted votes, primarily those of attorneys and other legal professionals. Readers were presented an opportunity to vote in more than 80 legal-related categories. The voting process is purely democratic, and results represent the candid opinions of New York Law Journalreaders.
The New York Law Journal rankings come on the heels of Signature Bank also being cited in the top three of the Nation’s Best Private Banking Services category of The National Law Journal, a sister publication of the New York Law Journal.
“Our top placement in the New York Law Journal reader ranking survey for the eighth consecutive year -- primarily across all three categories -- is evidence that the service and support we provide to our legal-related and law firm clients is exceptional. It is representative of the relationship-based service model upon which Signature Bank was built, where our bankers serve as the single point of contact to meet all clients’ needs. In the case of law firms, perhaps more so than in other industries, oftentimes there are many time-sensitive deadlines and confidential requests. We understand the distinct needs of law firms and are able to respond quickly and efficiently, contributing to the high marks we continue to earn in several of these other legal-focused trade publications,” noted Signature Bank President and Chief Executive Officer Joseph J. DePaolo.
“We thank our many loyal clients and dedicated professionals within the legal community who rely upon Signature Bank to meet their legal needs. We are committed to providing them the same levels of stellar service to which they have grown accustomed and upon which they base their votes in reader ranking surveys such as these. We appreciate the fact they made the effort to be sure to cast their votes for Signature Bank,” he 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 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 offers a wide variety of business and personal banking products and services. Its 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 $40.72 billion in assets, $30.39 billion in loans, $33.17 billion in deposits, $3.80 billion in equity capital and $3.63 billion in other assets under management as of June 30, 2017. Signature Bank's Tier 1 and risk-based capital ratios are significantly above the levels required to be considered well capitalized.
Signature Bank ranked on Forbes' Best Banks in America list for the seventh consecutive year in 2017 and was recently named Best Private Bank and Best Attorney Escrow Services provider and also ranked among the Best Business Banks for the eighth consecutive year by the New York Law Journal in the publication’s eighth annual reader survey. Additionally, Signature Bank was cited among the top three of the nation's best private banking services providers in the 2017 Best of The National Law Journal reader rankings. The Bank was also named Best Commercial Bank of the Year - U.S. by International Banker in their International Banker 2017 North and South American Awards program. Furthermore, Signature Bank was the recipient of two gold Stevie Awards® in The 15th Annual American Business Awards for 2017: Company of the Year in both Banking and Financial Services-Large categories.
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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Source: Signature Bank
Eric R. Howell, 646-822-1402
Executive Vice President – Corporate and Business Development
Susan J. Lewis, 646-822-1825