NEW YORK–(BUSINESS WIRE)–Signature Bank (Nasdaq: SBNY), a New York-based, full-service commercial bank, announced today it ranked second in the nation in three categories of The National Law Journal’s “Best of” 2022 11th annual readers’ poll. The categories include Business Bank, Private Bank and Attorney Escrow Services. This is the fourth consecutive year in which Signature Bank placed #2 nationally in all three categories of The National Law Journal’s annual survey.
Every year, The National Law Journal, an ALM-published national legal trade publication, polls the national legal community, affording readers and members of the legal community an opportunity to cast their votes for their choice in top providers across a range of services and goods available to the legal profession. The National Law Journal’s “Best of” survey showcases various types of businesses which serve the legal industry and stand out amongst their competitors.
The 2022 rankings revealed in the April 2022 edition of The National Law Journal reflect the votes of thousands of attorneys as well as other legal professionals across many legal-related categories. The voting process is a purely democratic one.
“We continue to place in the top nationally of these three banking categories because our founding, single-point-of-contact model is built on client-centric service and relationship-based banking. Over the years, we have established a strong footing within the legal arena by placing the relationships we forge at the forefront of our institution. The reputation we are proud to have earned throughout the country is continually communicated by the voice of the legal community in this ranking. We deeply appreciate those who took the time to vote for Signature Bank, which is a clear expression of their loyalty to our bankers and this institution,” explained Co-founder, President and Chief Executive Officer Joseph J. DePaolo.
Signature Bank also was named #1 in the same three categories of the annual “Best of” 2021 ranking issued by the New York Law Journal, The National Law Journal’s sister publication. This was the 12th straight year where Signature Bank earned a top three position in one or more of these same categories in the New York Law Journal survey.
Additionally, Signature Bank earned a place in the “Best of” Hall of Fame of both The National Law Journal and the New York Law Journal readers’ polls. This honor is awarded only to those entities that continually placed in the same “Best of” categories for at least three of the past four years.
About Signature Bank
Signature Bank (Nasdaq: SBNY), member FDIC, is a New York-based, full-service commercial bank with 37 private client offices throughout the metropolitan New York area, as well as those in Connecticut, California and North Carolina. Through its single-point-of-contact approach, the Bank’s private client banking teams primarily serve the needs of privately owned businesses, their owners and senior managers.
The Bank has two wholly owned subsidiaries: Signature Financial, LLC, provides equipment finance and leasing; and, Signature Securities Group Corporation, a licensed broker-dealer, investment adviser and member FINRA/SIPC, offers investment, brokerage, asset management and insurance products and services.
Since commencing operations in May 2001, Signature Bank reached $118.45 billion in assets as of December 31, 2021. With $106.13 billion in deposits at year-end 2021, Signature Bank placed 19th on S&P Global’s list of the largest banks in the U.S., based on deposits.
Signature Bank was the first FDIC-insured bank to launch a blockchain-based digital payments platform. Signet™ allows commercial clients to make real-time payments in U.S. dollars, 24/7/365 and was also the first solution to be approved for use by the NYS Department of Financial Services.
For more information, please visit https://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. 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 expectations regarding 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, business strategy and the impact of the COVID-19 pandemic on each of the foregoing and on our business overall. Forward-looking statements often include words such as “may,” “believe,” “expect,” “anticipate,” “intend,” “potential,” “opportunity,” “could,” “project,” “seek,” “target”, “goal”, “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, (vi) our ability to maintain the continuity, integrity, security and safety of our operations and (vii) competition for qualified personnel and desirable office locations. All of these factors are subject to additional uncertainty in the context of the COVID-19 pandemic, which is having an unprecedented impact on all aspects of our operations, the financial services industry and the economy as a whole. Additional risks are described in our quarterly and annual reports filed with the FDIC. 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. 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.