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Signature Bank Completes Public Offering

Offering Significantly Increased By 35 Percent Due to Overwhelming Demand

New York…September 15, 2008…Signature Bank (Nasdaq: SBNY), a New York-based full service commercial bank, announced today the completion of its public offering of 5.4 million shares of common stock at $29 per share, including the over allotment of 700,000 shares exercised by the underwriters.  The offering was originally scheduled for 3.5 million shares and was increased due to overwhelming demand of the investment community.  The net proceeds to Signature Bank from the offering were approximately $148.0 million, after the deduction of underwriting discounts and commissions as well as offering expenses.  This offering increases the capital of the Bank to nearly $575 million and brings its current market capitalization to more than $1 billion.

Proceeds from this offering will be used to continue the Bank's growth in its niche market for privately owned businesses in the metro-New York area.

"This raising of capital was truly a monumental event for our Bank and it absolutely reflects the investment community's confidence in our fundamental banking strategy and ability to deliver.  The Bank is now in an even stronger position in the marketplace, which will allow us to better and more effectively compete with the mega-banks throughout metro-New York," said Joseph J. DePaolo, president and Chief Executive Officer.

"Since our inception in 2001, Signature Bank has maintained a pristine balance sheet with capital ratios far superior to those of our competitors. The reputation we have garnered served as a catalyst in our raising these significant funds, despite the highly tumultuous banking environment. This additional funding further strengthens our position as the premiere mid-size commercial bank headquartered in the metro-New York area," DePaolo explained.

"We have always believed that maintaining a strong balance sheet is at the core of the Bank's foundation and positions us as a financially sound institution -- one that is built to weather any changes that are presented within an economic cycle. Our goal is not to be the biggest bank but the best bank in terms of prudence with funds and service to our clients. With the success of this equity offering, we will continue to focus on expanding our business by serving a key niche primarily comprised of privately owned businesses and providing a single point of contact to meet all client needs," said Scott A. Shay, Chairman of the Board.

Friedman, Billings, Ramsey & Co., Inc. acted as lead manager in Signature Bank's offering. Oppenheimer & Co. Inc. and Sandler O'Neill + Partners L.P. served as co-managers.

About Signature Bank
Signature Bank, member FDIC, is a New York-based full-service commercial bank with 21 private client offices located in the New York metropolitan area, serving the needs of privately owned businesses, their owners and senior managers through dozens of private client 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.

Signature Bank's 21 offices are located throughout the metropolitan New York area. In Manhattan - 261 Madison Avenue; 300 Park Avenue; 71 Broadway; 565 Fifth Avenue; 950 Third Avenue; 200 Park Avenue South and 1020 Madison Avenue. Brooklyn - 26 Court Street; 84 Broadway and 6321 New Utrecht Avenue. Westchester - 1C Quaker Ridge Road, New Rochelle and 360 Hamilton Avenue, White Plains. Long Island - 1225 Franklin Avenue, Garden City; 279 Sunrise Highway, Rockville Centre; 68 South Service Road, Melville; 923 Broadway, Woodmere; 40 Cuttermill Road, Great Neck and 100 Jericho Quadrangle, Jericho. Queens - 36-36 33rd Street, Long Island City and 78-27 37th Avenue, Jackson Heights. Bronx - 421 Hunts Point Avenue, Bronx.

Since commencing operations in May 2001, the Bank has grown to $6.37 billion in assets, $4.87 billion in deposits, $426.3 million in equity capital and $2.96 billion in other assets under management as of June 30, 2008.

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. 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 team hires, new office openings and business strategy. These statements often include words such as "may," "believe," "expect," "anticipate," "intend," "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. These factors include but are not limited to: (i) prevailing economic conditions; (ii) changes in interest rates, loan demand, real estate values, and competition, which can materially affect origination levels and gain on sale results in our business, as well as other aspects of our financial performance; (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; and (iv) competition for qualified personnel and desirable office locations. Additional risks are described in the offering circular relating to the offering and 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.

For Further Information:

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

Media Contact:
Susan J. Lewis
646-822-1825
slewis@signatureny.com

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