U.S. Markets closed

Signature Bank Unveils San Francisco Flagship Financial Center; Marks Company’s Official Entry into the West Coast

NEW YORK--(BUSINESS WIRE)--

Leading NYC-based Institution brings Proven Private Client Banking Model to San Francisco

Signature Bank (SBNY), a New York-based full-service commercial bank, announced today the official opening of its first financial center on the West Coast. The new financial center is located at 201 Mission Street in downtown San Francisco, which is the heart of the city’s financial district.

Signature Bank’s new banking offices are home to three private client banking teams. Each team is headed by banking veterans, including Group Directors-Senior Vice Presidents Kelny Denebeim, Sumiko Sheaffer and Dale Zeigler. Joe Petitti, Head of West Coast Operations, is leading Signature Bank’s West Coast expansion while John (Jack) Knight, Managing Director – Cash Management Operations, oversees cash management products and services.

“For nearly 18 years, Signature Bank has been a leader in commercial banking throughout the New York metropolitan area. During this time, we built a strong and solid franchise, based on providing clients stellar relationship-based banking services, delivered by talented private client banking teams, equipped to handle all their needs. We determined that San Francisco would be a market ripe for our single-point-of contact model, based on the local penetration of privately owned businesses including not-for-profit organizations – our niche target market – as well as mega bank market domination. Our differentiating service-oriented, client-centric model is most successful amid these types of business landscapes. We look forward to introducing our single-point-of-contact approach to the community,” explained President and Chief Executive Officer Joseph J. DePaolo.

The Bank will host a private reception this week in conjunction with the official opening of its new financial center.

Signature Bank’s San Francisco private client banking office provides a full suite of commercial banking products and services. Bankers can be reached at (628) 218-2188 or signatureSF@signatureNY.com.

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. In 2018, the Bank expanded its footprint on the West Coast with the opening of its first full-service private client banking office in San Francisco. The Bank’s growing network of private client banking teams serves the needs of privately owned businesses, their owners and senior managers.

Signature Bank’s 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 $47.36 billion in assets, $36.42 billion in loans, $36.38 billion in deposits, $4.41 billion in equity capital and $3.78 billion in other assets under management as of December 31, 2018. Signature Bank's Tier 1 and risk-based capital ratios are significantly above the levels required to be considered well capitalized.

Signature Bank is ranked the 40th largest bank in the U.S. from nearly 6,000, based on deposits (SNL Financial). The Bank recently earned several third-party recognitions, including: appeared on Forbes' Best Banks in America list for the eighth consecutive year in 2018; and, named Best Business Bank, Best Private Bank and Best Attorney Escrow Services provider by the New York Law Journal in the publication’s annual “Best of” survey for 2018, earning it a place in the New York Law Journal’s Hall of Fame (awarded to companies that have ranked in the “Best of” Survey for at least three of the past four years).

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190225005320/en/