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Signature Bank (Nasdaq: SBNY), a New York-based, full-service commercial bank, announced today it ranked second in the U.S. in three categories of The National Law Journal’s "Best of 2021," its 10th annual readers’ poll. The categories include Business Bank, Private Bank and Attorney Escrow Services. This marks the third consecutive year where Signature Bank placed #2 nationally in all three categories of The National Law Journal’s annual survey.
Each year, The National Law Journal, an ALM-published legal trade publication, polls the legal community nationally, offering an opportunity for readers, along with members of the legal community, to cast their votes for the best providers across a range of services and goods available to the legal profession. The National Law Journal’s "Best of" survey showcases businesses serving the legal industry that distinguish themselves amongst their competitors.
The 2021 rankings, which were revealed in the March 2021 edition of this national legal trade publication, indicate the votes of thousands of attorneys and other legal professionals across more than 60 legal-related categories. The voting process is reflective of a purely democratic process.
"Over the years, Signature Bank has built a solid reputation throughout the legal community nationally, as evidenced by our strong placement for three consecutive years in this survey. The recognition from attorneys nationwide is indicative of the service levels and commitment to client care our veteran private client banking teams deliver through our single-point-of-contact model. We thank our clients for taking the time to show their loyalty and express the value they place in our institution. We also appreciate the vehicle The National Law Journal offers through this yearly ranking," stated President and Chief Executive Officer Joseph J. DePaolo.
"Similarly, Signature Bank was also named the top bank in the same three categories in the annual ‘Best of’ survey issued by The National Law Journal’s sister publication, the New York Law Journal. 2020 marked the 11th consecutive year where Signature Bank earned a top three position in one or more of these same categories in that outlet’s comparable survey. Our broad acceptance from the legal community both nationally and throughout metropolitan New York demonstrates our dedication to the legal community overall," DePaolo concluded.
Additionally, Signature Bank earned a place in the 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, including those in Connecticut as well as 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, with $73.9 billion in assets, is one of the top 40 largest banks in the U.S., based on deposits (S&P Global Market Intelligence). Deposits as of December 31, 2020 reached $63.3 billion.
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 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, our business strategy and the impact of the COVID-19 pandemic on each of the foregoing and on our business overall. These 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. 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210302005469/en/
Eric R. Howell, Senior Executive Vice President –
Corporate and Business Development
Susan Lewis Turkell