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Investor Relations

Press Release

Signature Bank Reports 2006 Fourth Quarter and Year-End Results

Company Release - 1/25/2007 5:00 AM ET

NEW YORK--(BUSINESS WIRE)--

Signature Bank (Nasdaq: SBNY):

    --  Deposits Reached $4.21 Billion Including Inflow of
        Approximately $550 Million in Short-term Escrow Deposits.
        Deposits for 2006 Increased $723.4 Million Over Previous Year.
        Excluding Short-term Escrow Deposits at Year-End 2005 and
        2006, Deposits Increased $466.7 Million, or 14.6 Percent, for
        the Year

    --  Loans Totaled $1.58 Billion, Up $177 Million or 13 Percent for
        the Fourth Quarter. Loans Increased $572.5 Million or 57
        Percent Since Last Year

    --  Net Income for the Quarter at $8.9 Million or $0.30 Diluted
        Earnings Per Share, Up $1.5 Million, or 20 Percent, from the
        Fourth Quarter of 2005. Net Income for 2006 was $33.4 Million
        or $1.12 Diluted Earnings Per Share

    --  Net Interest Margin Expands Two Basis Points on a Linked
        Quarter Basis

    --  Private Client Banking Teams at 47, Headed by 59 Group
        Directors at Year-end, An Increase of Nine Teams Since the End
        of 2005

Signature Bank (Nasdaq: SBNY), a New York-based full-service commercial bank, today announced results for the 2006 fourth quarter and year ended December 31, 2006.

Net income for the quarter reached $8.9 million, or $0.30 diluted earnings per share, a 20 percent increase when compared with net income of $7.4 million, or $0.25 diluted earnings per share for the 2005 fourth quarter. The increase in net income is primarily due to a rise in net interest income fueled by an increase in average interest earning assets of $645.7 million coupled with an increase in non-interest income.

Net interest income for the quarter totaled $32.7 million, up 12.7 percent or $3.7 million when compared with the same period last year. Total assets reached $5.4 billion at the end of 2006, an increase of $1.01 billion from year-end 2005.

Deposits rose $668.1 million during the fourth quarter, totaling $4.21 billion at December 31, 2006. Similar to numerous previous quarters, included in this amount is approximately $550 million in short-term escrow deposits, the bulk of which, due to their nature and as expected, were already released during the first quarter of 2007.

Excluding these short-term escrow funds, deposits increased approximately $117.8 million during the fourth quarter. The overall deposit growth for the year represents an increase of $723.4 million when compared with deposits at December 31, 2005. Excluding short-term escrow deposits of approximately $294 million at the end of 2005 and about $550 million at the end of 2006, deposits increased $466.7 million, or 14.6 percent, for the year.

For the year ended December 31, 2006, net income reached $33.4 million, or $1.12 diluted earnings per share, versus $15.9 million, or $0.53 diluted earnings per share last year. Reflected in Signature Bank's expenses during the second quarter of 2005 was the effect of a one-time special bonus of cash and stock totaling $12.0 million, contributed by the Bank's former principal shareholder, in connection with the sale of their controlling shares. Excluding this one-time bonus, 2005 net income was $25.4 million or $0.86 diluted earnings per share.

"We ended the year on a high note by delivering both strong deposit and loan growth for the quarter. Additionally, we continue to garner short-term escrow deposits that other financial institutions of our size typically do not attract. Our ability to attract these escrow deposits speaks to our stellar capabilities and the level of service we provide," said Joseph J. DePaolo, President and Chief Executive Officer.

"We had another solid year in terms of recruitment through the addition of nine private client banking teams and 12 Group Directors, the addition of numerous other professionals to existing teams and the opening of three new offices. Private client teams are the fundamental building blocks of our organization. By expanding our private client banking network by more than 25 percent during 2006, we look forward to the benefits these additions will bring us in 2007 and beyond. We are fast becoming recognized in the marketplace for continuing to successfully execute our model - serving privately owned businesses and their management through a single point of contact. Clearly, our abilities to effectively meet the needs of this often underserved and overlooked market segment have proved advantageous for us, as indicated by yet another robust year of financial performance and outstanding deposit and loan growth," DePaolo explained.

Scott A. Shay, Chairman of the Board, added: "Through our prudent and stringent balance sheet management, we were able to maintain margins for the quarter while the industry continues to face significant margin pressure in a difficult interest rate environment.

"We've essentially been able to meet the challenges of this tough industry landscape by adhering to our growth philosophy, and solidly executing on our business model to attract experienced banking teams who possess the components necessary to help grow our Bank both in deposits and loans. This is truly what has sustained our success quarter after quarter, year over year, for the past nearly six years," Shay explained.

Net Interest Income

Net interest income for the 2006 fourth quarter was $32.7 million, up 12.7 percent or $3.7 million from the same period a year ago. The net interest income growth is attributed to increases in low-cost core deposits, inflows of short-term escrow deposits and a corresponding increase in interest-earning assets. Average interest-earning assets for the fourth quarter of 2006 increased by $645.7 million, a 16.2 percent increase from the fourth quarter of last year. Asset yields for the fourth quarter of 2006 grew 93 basis points to 5.71 percent when compared with the same quarter last year, reflecting an improved asset mix and more favorable market conditions. During the fourth quarter, the average cost of deposits increased 89 basis points to 2.59 percent, and the average cost of funds rose 104 basis points to 3.0 percent when compared with the same period last year. The increases in costs of deposits and funds are reflective of the current interest rate environment and competitive marketplace.

Net interest income for the year ended December 31, 2006 was $122.0 million, up $22.9 million or 23.1 percent from last year.

The net interest margin for the 2006 fourth quarter decreased nine basis points to 2.80 percent when compared with the 2005 fourth quarter. On a linked quarter basis, net interest margin expanded two basis points. The net interest margin continues to be impacted by the prolonged difficult interest rate environment of the flat to inverted yield curve and a competitive deposit market. Net interest margin expansion in future periods will remain dependent upon core deposit growth and continued improvement in the Bank's loan-to-asset mix. Additionally, large movements in short-term escrow deposits can result in considerable changes in margins in any given quarter.

Non-Interest Income and Non-Interest Expense

Non-interest income for the fourth quarter of 2006 reached $6.3 million, compared with $4.9 million reported for the same period last year. This improvement was primarily due to a $1.5 million rise in commissions, largely associated with a significant increase in off-balance sheet short-term escrow deposits. The increase was partially mitigated by a decrease of $108,000 in net gains on sales of securities and loans.

For the year, non-interest income was $21.3 million versus $18.7 million for the comparable period last year. The increase of $2.7 million, or 14.2 percent, is primarily the result of the aforementioned commissions and fees and service charges, which, again, were partially offset by a decrease in net gains on sales of securities and loans.

Non-interest expense for the fourth quarter was $21.9 million versus $19.8 million for the fourth quarter last year. This increase is primarily attributable to the addition of new private client teams and offices. At the close of 2006, the Bank employed 59 Group Directors and 47 private client teams versus 47 Group Directors and 38 teams at the end of 2005. This represents an increase of more than 25 percent in the Bank's Group Director network. Additionally, the Bank opened three new offices during 2006.

For the year, non-interest expense was $81.2 million, a decrease of $515,000 when compared with 2005. Adjusting for the effects of a one-time special bonus of cash and stock totaling $12.0 million paid by the Bank's former principal shareholder and reflected in the Bank's 2005 expenses, non-interest expense for 2005 was $69.8 million resulting in an increase of $11.5 million, or 16.4 percent, for 2006.

The Bank's efficiency ratio improved to 56.15 percent for the fourth quarter of 2006 versus 57.52 percent for the third quarter of 2006. This is primarily due to the growth in interest income and non-interest income as well as prudent cost management practices.

Loans

For the fourth quarter, loans, excluding loans held for sale, increased $176.5 million, or 12.6 percent, to $1.58 billion at December 31, 2006, compared with $1.40 billion at September 30, 2006. Loans at December 31, 2006 increased $572.5 million, or 57.0 percent, compared with December 31, 2005. At December 31, 2006, loans to total assets stood at 29.2 percent, compared with 22.9 percent at the end of 2005.

Loans held for sale were $126.0 million as of December 31, 2006, an increase of $22.9 million from September 30, 2006. The periodic fluctuation in loans held for sale is primarily due to the timing of SBA loan purchases and subsequent pool sales.

During the fourth quarter of 2006, non-performing loans decreased from $8.9 million to $8.8 million, which represents 0.56 percent of total loans. Quarterly net charge-offs to average loans remained low at 0.01 percent. The non-performing loan balance continues to predominantly consist of two loans, one of which was paid off in January 2007. This pay-off will result in a $3.7 million reduction in non-performing loans in the first quarter of 2007.

Capital

Signature Bank's capital ratios remain strong. The Bank's tier 1 risk-based, total risk-based and leverage capital ratios were approximately 16.18 percent, 16.73 percent and 8.41 percent, respectively, as of December 31, 2006, well in excess of regulatory requirements. The ratios reflect the relatively low risk profile of the Bank's balance sheet.

DePaolo summarized the year and outlook ahead, stating: "We continue to recognize the opportunities that exist in our marketplace as changes unfold in the financial services arena. Our ability to capitalize on these changes has helped Signature Bank become one of the few remaining mid-sized commercial banks headquartered in metro-New York. This is a market position we are prepared to strengthen as we look ahead, and one on which we must capitalize now."

Conference Call

Signature Bank's management will host a conference call to review results of the fourth quarter and year ended December 31, 2006 on Thursday, January 25, 2007 at 10:00 AM ET. Participants should dial 800-257-6607 at least ten minutes prior to the start of the call. International callers should dial 303-262-2138.

To hear a live web simulcast or to listen to the archived web cast following completion of the call, please visit the Bank's web site at www.signatureny.com, click on the "Investor Relations" tab, then select "Company News," followed by "Conference Calls," to access the link to the call. Refer to conference identification number 35658. To listen to a telephone replay of the conference call, please dial 303-590-3000 and enter reservation identification number 11082030. The replay will be available from approximately 12:00 PM ET on Thursday, January 25, 2007, through 11:59 PM ET on Tuesday, January 30, 2007.

About Signature Bank

Signature Bank, member FDIC, is a New York-based full-service commercial bank with 18 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 18 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 and 84 Broadway. 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; 58 South Service Road, Melville and 923 Broadway, Woodmere. Queens - 36-36 33rd Street, Long Island City and 78-27 37th Avenue, Jackson Heights. Bronx - 421 Hunts Point Avenue, Hunts Point.

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, loan and deposit growth, 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 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.

SIGNATURE BANK
CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited)


                                  Three months ended    Year ended
                                     December 31,      December 31,
                                  ------------------------------------
(dollars in thousands, except per
 share amounts)                     2006      2005    2006     2005
----------------------------------------------------------------------
INTEREST AND DIVIDEND INCOME
Loans held for sale                  $1,287   1,234    4,871    3,625
Loans, net                           27,993  15,753   92,994   47,163
Securities available-for-sale        32,007  26,615  123,045   89,244
Securities held-to-maturity           3,984   3,870   16,003   16,199
Other short-term investments          1,367     517    2,744    1,305
----------------------------------------------------------------------
       Total interest income         66,638  47,989  239,657  157,536
----------------------------------------------------------------------
INTEREST EXPENSE
Deposits                             23,782  14,402   80,070   42,523
Federal funds purchased and
 securities sold under agreements
 to repurchase                        6,485   2,662   22,309    8,410
Federal Home Loan Bank advances       3,104   1,764   12,678    6,695
Other short-term borrowings             560     141    2,552      766
----------------------------------------------------------------------
       Total interest expense        33,931  18,969  117,609   58,394
----------------------------------------------------------------------
Net interest income before
 provision for loan losses           32,707  29,020  122,048   99,142
Provision for loan losses             1,511   1,229    4,145    3,310
----------------------------------------------------------------------
Net interest income after
 provision for loan losses           31,196  27,791  117,903   95,832
----------------------------------------------------------------------
NON-INTEREST INCOME
Commissions                           3,025   1,537    8,215    6,356
Fees and service charges              2,262   2,266    9,285    7,767
Net gains on sales of securities
 and loans                              436     544    1,765    2,373
Other income                            539     532    2,063    2,182
----------------------------------------------------------------------
       Total non-interest income      6,262   4,879   21,328   18,678
----------------------------------------------------------------------
NON-INTEREST EXPENSE
Salaries and benefits                12,536  11,235   49,231   52,127
Occupancy and equipment               2,366   2,039    8,987    7,270
Other general and administrative      6,979   6,511   23,024   22,360
----------------------------------------------------------------------
       Total non-interest expense    21,881  19,785   81,242   81,757
----------------------------------------------------------------------
Income before income taxes           15,577  12,885   57,989   32,753
Income tax expense                    6,692   5,477   24,629   16,884
----------------------------------------------------------------------
Net income                           $8,885   7,408   33,360   15,869
----------------------------------------------------------------------
PER COMMON SHARE DATA
Earnings per share - basic            $0.30    0.25     1.13     0.54
Earnings per share - diluted          $0.30    0.25     1.12     0.53
SIGNATURE BANK
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION


                                             December 31, December 31,
                                                2006         2005
(dollars in thousands, except per share
 amounts)                                    (unaudited)
----------------------------------------------------------------------
ASSETS
Cash and due from banks                         $150,227       80,558
Short-term investments                           320,594        5,651
----------------------------------------------------------------------
     Total cash and cash equivalents             470,821       86,209
----------------------------------------------------------------------
Securities available-for-sale (pledged
 $1,529,241 at December 31, 2006 and
 $946,430 at December 31, 2005)                2,654,605    2,570,799
Securities held-to-maturity (fair market
 value $373,541 at December 31, 2006 and
 $390,401 at December 31, 2005; pledged
 $269,387 at December 31, 2006 and $175,730
 at December 31, 2005)                           381,728      399,501
Federal Home Loan Bank stock                      16,961       14,468
Loans held for sale                              125,978      138,395
Loans, net                                     1,563,789      995,103
Premises and equipment, net                       22,221       17,785
Accrued interest and dividends receivable         29,338       20,817
Other assets                                     133,984      141,861
----------------------------------------------------------------------
     Total assets                             $5,399,425    4,384,938
----------------------------------------------------------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
Deposits
Non-interest-bearing                           1,586,440    1,277,207
Interest-bearing                               2,624,719    2,210,526
----------------------------------------------------------------------
     Total deposits                            4,211,159    3,487,733
----------------------------------------------------------------------
Federal funds purchased and securities sold
 under agreements to repurchase                  467,000      260,000
Federal Home Loan Bank advances                  260,000      220,000
Other short-term borrowings                        6,687       20,000
Accrued expenses and other liabilities            61,981       46,223
----------------------------------------------------------------------
     Total liabilities                         5,006,827    4,033,956
----------------------------------------------------------------------
Shareholders' equity
Preferred stock, par value $.01; 61,000,000
 shares authorized and unissued at December
 31, 2006 and December 31, 2005                        -            -
Common stock, par value $.01; 64,000,000
 shares authorized, 29,598,107 shares issued
 and outstanding at December 31, 2006;
 64,000,000 shares authorized, 29,378,397
 shares issued and outstanding at December
 31, 2005                                            296          294
Additional paid-in capital                       366,715      361,617
Unearned compensation                                  -         (680)
Retained earnings                                 46,163       12,803
Accumulated other comprehensive loss:
Net unrealized depreciation on securities
 available-for-sale, net of tax effect           (20,576)     (23,052)
----------------------------------------------------------------------
     Total shareholders' equity                  392,598      350,982
----------------------------------------------------------------------
     Total liabilities and shareholders'
      equity                                  $5,399,425    4,384,938
----------------------------------------------------------------------
SIGNATURE BANK
FINANCIAL SUMMARY, CAPITAL RATIOS, ASSET QUALITY
(unaudited)



                                 Three months ended     Year ended
                                 -------------------------------------
(dollars in thousands, except    Dec. 31,  Dec. 31,  Dec. 31, Dec. 31,
 ratios and per share amounts)      2006     2005      2006     2005
----------------------------------------------------------------------
PER SHARE
Net income - basic                  $0.30     $0.25    $1.13    $0.54
Net income - diluted                $0.30     $0.25    $1.12    $0.53
Average shares outstanding -
 basic                             29,582    29,366   29,480   29,349
Average shares outstanding -
 diluted                           29,941    29,716   29,873   29,693
Book value                         $13.26    $11.95   $13.26   $11.95

SELECTED FINANCIAL DATA
Return on average total assets       0.72%     0.70%    0.72%    0.42%
Return on average shareholders'
 equity                              9.24%     8.51%    9.25%    4.63%
Efficiency ratio                    56.15%    58.36%   56.66%   69.39%
Yield on interest-earning assets     5.71%     4.78%    5.50%    4.41%
Cost of deposits and borrowings      3.00%     1.96%    2.79%    1.71%
Net interest margin                  2.80%     2.89%    2.80%    2.78%



                                 Dec. 31,  Sept. 30, Dec. 31,
                                    2006      2006     2005
-------------------------------------------------------------
CAPITAL RATIOS
Tier one leverage                    8.41%     8.61%    8.67%
Tier one risk-based                 16.18%    17.55%   19.55%
Total risk-based                    16.73%    18.10%   20.08%

ASSET QUALITY
Non-performing loans               $8,756    $8,937   $8,845
Allowance for loan losses         $13,829   $12,339  $10,050
Allowance for loan losses to
 non-performing loans              157.94%   138.07%  113.62%
Allowance for loan losses to
 total loans                         0.88%     0.88%    1.00%
Non-performing loans to total
 loans                               0.56%     0.64%    0.88%
Quarterly net charge-offs to
average loans (annualized)           0.01%     0.03%    0.03%
SIGNATURE BANK
NET INTEREST MARGIN ANALYSIS
(unaudited)



                  Three months ended           Three months ended
                  December 31, 2006            December 31, 2005
             ---------------------------------------------------------
                         Interest Average             Interest Average
(dollars in   Average     Income/  Yield/  Average     Income/  Yield/
 thousands)    Balance    Expense   Rate    Balance    Expense   Rate
----------------------------------------------------------------------
INTEREST-
 EARNING
 ASSETS
Short-term
 investments    $77,487    1,090    5.58%    $38,172      377    3.92%
Investment
 securities   3,025,272   36,268    4.80%  2,933,121   30,625    4.18%
Commercial
 loans and
 commercial
 mortgages    1,158,378   22,163    7.59%    730,910   12,200    6.62%
Residential
 mortgages      159,677    2,309    5.78%     72,171      872    4.83%
Consumer
 loans          135,611    3,521   10.30%    123,688    2,681    8.60%
Loans held
 for sale        74,463    1,287    6.86%     87,090    1,234    5.62%
----------------------------------------------------------------------
Total
 interest-
 earning
 assets       4,630,888   66,638    5.71%  3,985,152   47,989    4.78%
----------------------------------------------------------------------
Non-interest-
 earning
 assets         259,928                      231,092
----------------------------------------------------------------------
Total assets $4,890,816                   $4,216,244
----------------------------------------------------------------------
INTEREST-
 BEARING
 LIABILITIES
Interest-
 bearing
 deposits
NOW and
 interest-
 bearing
 checking       267,502    1,332    1.98%    218,340      480    0.87%
Money market
 accounts     1,882,865   18,281    3.85%  1,721,620   11,322    2.61%
Certificates
 of deposit     343,879    4,169    4.81%    302,218    2,600    3.41%
Non-interest-
 bearing
 deposits     1,142,731        -       -   1,114,018        -       -
----------------------------------------------------------------------
Total
 deposits     3,636,977   23,782    2.59%  3,356,196   14,402    1.70%
----------------------------------------------------------------------
Borrowings      849,862   10,149    4.74%    487,828    4,567    3.71%
----------------------------------------------------------------------
Total
 deposits and
 borrowings   4,486,839   33,931    3.00%  3,844,024   18,969    1.96%
----------------------------------------------------------------------
Other non-
 interest-
 bearing
 liabilities
 and share-
 holders'
 equity         403,977                      372,220
----------------------------------------------------------------------
Total
 liabilities
 and share-
 holders'
 equity      $4,890,816                   $4,216,244
----------------------------------------------------------------------
OTHER DATA
Net interest
 income /
 interest
 rate spread              32,707    2.71%              29,020    2.82%
----------------------------------------------------------------------
Net interest
 margin                             2.80%                        2.89%
----------------------------------------------------------------------
Ratio of
 average
 interest-
 earning
 assets to
 average
 interest-
 bearing
 liabilities                      103.21%                      103.67%
----------------------------------------------------------------------
SIGNATURE BANK
NET INTEREST MARGIN ANALYSIS
(unaudited)



                      Year ended                   Year ended
                  December 31, 2006            December 31, 2005
             ---------------------------------------------------------
                         Interest Average             Interest Average
(dollars in   Average     Income/  Yield/  Average     Income/  Yield/
 thousands)    Balance    Expense   Rate    Balance    Expense   Rate
----------------------------------------------------------------------
INTEREST-
 EARNING
 ASSETS
Short-term
 investments    $31,656    1,699    5.37%    $21,912      727    3.32%
Investment
 securities   3,017,081  140,093    4.64%  2,721,841  106,021    3.90%
Commercial
 loans and
 commercial
 mortgages      986,093   73,264    7.43%    587,771   35,804    6.09%
Residential
 mortgages      118,617    6,595    5.56%     71,863    3,776    5.25%
Consumer
 loans          132,816   13,135    9.89%     89,134    7,583    8.51%
Loans held
 for sale        72,194    4,871    6.75%     77,463    3,625    4.68%
----------------------------------------------------------------------
Total
 interest-
 earning
 assets       4,358,457  239,657    5.50%  3,569,984  157,536    4.41%
----------------------------------------------------------------------
Non-interest-
 earning
 assets         248,055                      200,022
----------------------------------------------------------------------
Total assets $4,606,512                   $3,770,006
----------------------------------------------------------------------
INTEREST-
 BEARING
 LIABILITIES
Interest-
 bearing
 deposits
NOW and
 interest-
 bearing
 checking       236,286    3,810    1.61%    202,415    1,438    0.71%
Money market
 accounts     1,804,086   63,314    3.51%  1,559,905   33,388    2.14%
Certificates
 of deposit     295,957   12,946    4.37%    261,168    7,697    2.95%
Non-interest-
 bearing
 deposits     1,060,882        -       -     891,059        -       -
----------------------------------------------------------------------
Total
 deposits     3,397,211   80,070    2.36%  2,914,547   42,523    1.46%
----------------------------------------------------------------------
Borrowings      824,024   37,539    4.56%    491,613   15,871    3.23%
----------------------------------------------------------------------
Total
 deposits and
 borrowings   4,221,235  117,609    2.79%  3,406,160   58,394    1.71%
----------------------------------------------------------------------
Other non-
 interest-
 bearing
 liabilities
 and share-
 holders'
 equity         385,277                      363,846
----------------------------------------------------------------------
Total
 liabilities
 and share-
 holders'
 equity      $4,606,512                   $3,770,006
----------------------------------------------------------------------
OTHER DATA
----------------------------------------------------------------------
Net interest
 income /
 interest
 rate spread             122,048    2.71%              99,142    2.70%
----------------------------------------------------------------------
Net interest
 margin                             2.80%                        2.78%
----------------------------------------------------------------------
Ratio of
 average
 interest-
 earning
 assets to
 average
 interest-
 bearing
 liabilities                      103.25%                      104.81%
----------------------------------------------------------------------

Source: Signature Bank

Contact: Signature Bank Investor Contact: Eric R. Howell, 646-822-1402 Chief Financial Officer ehowell@signatureny.com or Media Contact: Susan J. Lewis, 646-822-1825 slewis@signatureny.com