Signature
Bank (Nasdaq: SBNY), a New York-based full-service commercial bank,
announced today that it was named Best Business Bank by the New
York Law Journal in the publication’s fifth
annual reader survey. The Bank also ranked second in both the Best
Private Bank and Best Attorney Escrow Service Provider categories.
For the past five years, since the survey was first introduced by the New
York Law Journal, Signature Bank has continually secured a position
among the top three in each of the categories in which it ranked,
culminating in its Best Business Bank status this year.
The rankings, which appeared in the September 17, 2014 issue of this
leading New York-area legal publication, were based solely on votes cast
by more than 8,000 readers, which comprise attorneys and other legal
professionals. Readers were given the opportunity to vote in 90+
legal-related categories. In addition to those categories in which
Signature Bank ranked, others included areas such as litigation support,
consulting and outsourcing, technology, recruiting and staffing,
research, accounting, real estate, mediation and education. While the
rankings are not a scientific survey of the marketplace, the process is
purely democratic, and the results represent the candid opinions of New
York Law Journal readers.
“Signature Bank has been dedicated to serving legal professionals since
its inception in 2001. Legal practices are an integral part of our
professional services client base, and it is gratifying to see these
results from readers of the New York Law Journal, as they reflect
the opinions of many of our clients. We believe our attention to client
care mirrors that of the legal industry’s dedication to its own clients,
and therefore, has afforded Signature Bank the privilege of being named
Best Business Bank,” noted Joseph J. DePaolo, Signature Bank President
and Chief Executive Officer.
“This survey demonstrates firsthand the commitment and capabilities of
our private client banking teams in serving as a single point of contact
for their clients. And, through this voting process, our clients have in
turn shown their appreciation for the level of service and attention we
bring them. We thank our legal clients for their ongoing support and the New
York Law Journal for this opportunity and prestigious recognition,”
DePaolo said.
About Signature Bank
Signature Bank, member FDIC, is a New York-based full-service commercial
bank with 27 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. The Bank operates Signature Financial,
LLC, a specialty finance subsidiary focused on equipment finance and
leasing, transportation financing and taxi medallion financing.
Investment, brokerage, asset management and insurance products and
services are offered through the Bank’s subsidiary, Signature Securities
Group Corporation, a licensed broker-dealer, investment adviser and
member FINRA/SIPC.
Since commencing operations in May 2001, the Bank has grown to $24.5
billion in assets, $19.8 billion in deposits, $2.29 billion in equity
capital and $3.41 billion in other assets under management as of June
30, 2014. Signature Bank's Tier 1 and risk-based capital ratios are
significantly above the levels required to be considered well
capitalized.
Signature Bank's 27 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; 97 Broadway and 6321
New Utrecht Avenue. Westchester (2) - 1C Quaker Ridge Road, New Rochelle
and 360 Hamilton Avenue, White Plains. Long Island (7) - 1225 Franklin
Avenue, Garden City; 53 North Park Avenue, Rockville Centre; 68 South
Service Road, Melville; 923 Broadway, Woodmere; 40 Cuttermill Road,
Great Neck; 100 Jericho Quadrangle, Jericho and 360 Motor Parkway,
Hauppauge. 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 (2) - 2066 Hylan Blvd. and 1688
Victory Blvd.
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.
Copyright Business Wire 2014