New York…October 5, 2009…Signature Bank (Nasdaq: SBNY), a New York-based full-service commercial bank, announced today that its President and Chief Executive Officer, Joseph J. DePaolo, was named Corporate Leader 2009 by the New Rochelle Police Foundation of New Rochelle, N.Y.
DePaolo will be honored by the New Rochelle Police Foundation at a gala event to be held on Thursday, October 15, 2009 at the Greentree Country Club, 538 Davenport Avenue in New Rochelle.
DePaolo, a New Rochelle resident, was selected to receive the Corporate Leader Award 2009 by the Police Foundation, based on his outstanding service and dedication to the community. Each year, the Executive Board of the New Rochelle Police Foundation receives suggestions for possible honorees and then presents these names to its general membership for discussion and final selection of the honoree.
Signature Bank has been an important part of the New Rochelle community since it began operations here in December 2001 with the opening of its private client banking office. The New Rochelle Police Foundation has close ties to the Bank's New Rochelle office.
The New Rochelle Police Foundation, a non-profit entity, is focused on raising funds that assist with and undertake programs that strengthen the services offered by and professionalism of the New Rochelle Police Department.
"I am honored to be named the Corporate Leader for 2009 by the New Rochelle Police Foundation. As a New Rochelle resident for 23 years, I recognize various needs within the community, and I am able to see firsthand the fruits of the Foundation's labor," DePaolo said.
"The Foundation's commitment, support and initiatives are truly making a difference in the betterment of New Rochelle. Supporting the Police Foundation stands to benefit every citizen within our area, and I am proud to be honored by this important organization. Signature Bank has operated a private client banking office in New Rochelle since we began establishing our footprint throughout the metro-N.Y. area. We appreciate the opportunity to serve local businesses and meet the financial needs of the New Rochelle and Westchester communities," DePaolo concluded.
New Rochelle Police Commissioner Patrick Carroll commented on DePaolo being selected for this prestigious award, stating: "Signature Bank is an important part of our community and Joe is extremely involved in the Bank's business locally and in supporting our community. Over the years, Signature Bank has grown dramatically, and its presence here is an important part of our business and economic landscape. We value Signature Bank's contributions to the growth and success of the New Rochelle community, and our Foundation is proud to acknowledge Joe's and the Bank's important role within the area."
Along with the Corporate Leader Award, the Foundation also names an Outstanding Foundation Board Member and bestows a Corporate Crime Award 2009 each year. Past recipients of the Corporate Leader Award include, among others, Sidney Frank, C.E.O. Sidney Frank Importing Co., John Spicer, C.E.O. Sound Shore Medical Center, and Louis Cappelli, just to name a few.
In addition to being named Corporate Leader 2009 by the Foundation, DePaolo has also been recognized over the years by a range of organizations for his community involvement. He was an Honoree at the 2006 New Rochelle Fund for Education Excellence. He was awarded the Phyllis Kreitman Memorial Award by the Leukemia & Lymphoma Society in September 2005. DePaolo was an Honoree at the Housing & Services luncheon in January 2004 and The Harold Kalikow Memorial Camp Reception, Benefiting Scouts with Disabilities in June 2003. In May of 2002, DePaolo was awarded the Ellis Island Medal of Honor, presented by the National Ethnic Coalition of Organizations Foundation, Inc. The award recognizes distinguished Americans who have made significant contributions to the country's heritage. Formerly, DePaolo was a member of the Westchester County Association, the Board of Directors of the American Heart Association of Westchester and the Board of Trustees of Manhattanville College in Purchase, New York. In 1998 and 1999, he was Chairman of the American Heart Association's Westchester County Heart Walks. Nationwide fund raising records were set in each of those years. DePaolo has received numerous awards on the local, state and national levels from the American Heart Association and was the Honoree at their 2000 Annual Gala.
DePaolo, 50, is a graduate of Iona College in Westchester, N.Y., which he attended on a full academic scholarship. He graduated Summa cum Laude, earning a Bachelor of Business Administration degree in Accounting. He is also a Certified Public Accountant (CPA).
The New Rochelle Police Foundation is a publicly supported, tax exempt, charitable organization which recognizes the need to meet new challenges within the law enforcement arena as the police profession grows, changes and adapts to new technologies and other developments. The New Rochelle Police Foundation is governed by a Board of Trustees comprised of local business and professional leaders. They volunteer their time, talents and resources to support the goals of the Foundation.
About Signature Bank
Signature Bank, member FDIC, a New York-based full-service commercial bank with 23 private client offices in the New York metropolitan area, serves 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 FINRA/SIPC.
Signature Bank's 23 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, 1020 Madison Avenue and 50 West 57th Street. 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. Staten Island - 2066 Hylan Blvd.
Since commencing operations in May 2001, the Bank has grown to $7.88 billion in assets, $6.1 billion in deposits, $736.2 million in equity capital and $2.24 billion in other assets under management as of June 30, 2009. Signature Bank's Tier 1 and risk-based capital ratios are significantly above the levels required to be considered well capitalized.
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, capitalization, new private client team hires, new office openings, the regulatory environment 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 and regulatory 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 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:
Eric R. Howell, Chief Financial Officer
Susan J. Lewis, 646-822-1825,