NEW YORK--(BUSINESS WIRE)--
Signature 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 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 $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 billion.
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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