Bank Also Ranks Second in Both Best Private Bank and Best Attorney
Escrow Services Categories
NEW YORK--(BUSINESS WIRE)--
Bank (Nasdaq: SBNY), a New York-based full-service commercial bank,
announced today it has been named Best Business Bank by the New
York Law Journal in the publication's seventh
annual reader survey. The Bank also ranked second in the Best
Private Bank and Best Attorney Escrow Services categories.
Since the New York Law Journal introduced its reader survey in
2010, Signature Bank has continually secured the top spot or ranked in
the top three in each of the categories in which it was named. This is
the third consecutive year Signature Bank has been voted the Best
Business Bank. It is also the sixth consecutive year the Bank was named
in the top three of the Best Private Bank category, and the fifth
consecutive year it appeared in the top three in Best Attorney Escrow
Services category, including twice being ranked number one.
The rankings, which were announced in the September 21, 2016 issue of
the leading New York-area legal trade publication, were based solely on
8,000+ reader-casted votes, primarily those from attorneys and other
legal professionals. Readers were presented an opportunity to vote in
more than 100 legal-related categories. The voting process is purely
democratic, and the results represent the candid opinions of New York
Law Journal readers.
"As a full-service commercial bank, Signature Bank caters to serving
professional service firms and business clients, including law firms,
which are a major constituent. The New York Law Journal results
reflect the direct opinions of our clients who are readers of this
widely read legal journal. We are gratified by their continued
confidence in and support of the Bank and our private client banking
teams who are committed to serving their needs every day. It is
extremely rewarding to see our loyal clients took the time to cast their
votes and express their commitment to our relationship-based business
model. We are very appreciative of their time and dedication," explained
Joseph J. DePaolo, Signature Bank President and Chief Executive Officer.
"Since the New York Law Journal began conducting their reader
rankings, Signature Bank has appeared prominently on this list. It is an
honor to again be named the Best Business Bank and to rank second in
both the Best Private Bank and Best Attorney Escrow Services categories.
This is a true testimony to our client-centric philosophy and
team-based, single-point-of-contact approach to meeting our clients'
needs, which we attribute to the Bank's continued success since our
founding 15 years ago," DePaolo concluded.
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
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
Since commencing operations in May 2001, the Bank has grown to $36.55
billion in assets, $26.71 billion in loans, $29.58 billion in deposits,
$3.50 billion in equity capital and $4.31 billion in other assets under
management as of June 30, 2016. Signature Bank's Tier 1 and risk-based
capital ratios are significantly above the levels required to be
considered well capitalized.
Signature Bank ranked sixth on Forbes'
Best and Worst Banks in America 2016 list and third on leading trade
journal Bank Director's 2015
Bank Performance Scorecard for banks with assets between $5 and $50
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160921005286/en/
R. Howell, 646-822-1402
Executive Vice President-Corporate &
Susan J. Lewis, 646-822-1825
Source: Signature Bank
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