NEW YORK--(BUSINESS WIRE)--Signature Bank (Nasdaq: SBNY), a New York-based full-service commercial bank, announced today that it was named among New York’s Fastest-Growing Public Companies by Crain’s New York Business. Signature Bank ranked 7th out of 100 companies on the annual list, and the only bank in the top 25.
The ranking, which appeared in the October 17, 2011 edition of Crain’s, marks Signature Bank’s fifth consecutive year of inclusion on the list. This year it moved up considerably, securing 7th place.
In addition, Signature Bank recently appeared for the first time on Fortune magazine’s Fastest-Growing Companies List, published in the September 26, 2011 issue, where it ranked 69th nationally.
“Both of these rankings highlighting the Bank’s growth are clearly reflective of the service levels we afford our clients, the single-point-of-contact dedication we bring and our ability to continue attracting some of the area’s top bankers. We have consistently grown deposits, loans and earnings, based on our proven business model,” explained Joseph J. DePaolo, Signature Bank President and Chief Executive Officer.
“We are honored to be recognized for our growth by both of these prestigious publications, which is the result of the unrelenting efforts of private client banking teams and their commitment to our clients,” he said.
Scott A. Shay, Chairman of the Board, added: “Our rankings in these prominent surveys reflect the confidence that our clients place in us regarding the management of the financial side of their businesses. Clients continually express that Signature Bank makes the process more efficient, cost effective, personable and even pleasant. The more our reputation grows, the more our Bank grows.”
About Signature Bank
Signature Bank, member FDIC, is a New York-based full-service commercial bank with 25 private client offices throughout the New York metropolitan area. 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 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 25 offices are located: In Manhattan (9) - 261 Madison Avenue; 300 Park Avenue; 71 Broadway; 565 Fifth Avenue; 950 Third Avenue; 200 Park Avenue South; 1020 Madison Avenue; 50 West 57th Street and 2 Penn Plaza. Brooklyn (3) - 26 Court Street; 84 Broadway and 6321 New Utrecht Avenue. Westchester (2) - 1C Quaker Ridge Road, New Rochelle and 360 Hamilton Avenue, White Plains. Long Island (6) - 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 (3) - 36-36 33rd Street, Long Island City; 78-27 37th Avenue, Jackson Heights and 8936 Sutphin Blvd., Jamaica. Bronx (1) - 421 Hunts Point Avenue, Bronx. Staten Island (1) - 2066 Hylan Blvd.
Since commencing operations in May 2001, the Bank has grown to $13.9 billion in assets, $11.2 billion in deposits, $1.37 billion in equity capital and $1.7 billion in other assets under management as of September 30, 2011. 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, competition, 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 clients, loans, deposits, 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.