Ranked #1 in Best in Business Bank, Private Bank and Business Escrow Services Categories for Fourth Consecutive Year; Ranks in Top Three in Business Bank Category Annually for Past 12 Years.
Signature Bank (Nasdaq: SBNY), a New York-based full-service commercial bank, announced today it ranked #1 in three categories of the New York Law Journal's'Best of' 12th annual survey of the New York legal community. The categories include Business Bank, Private Bank and Business Escrow Services. The 2021 New York Law Journal ranking marks the 12th consecutive year in which Signature Bank earned a top three position in one or more of these same categories.
The rankings, which are revealed in the September 20th, 2021 edition of the New York-area's leading legal trade publication, reflect the opinions of thousands of attorneys and other legal professionals who were eligible to cast votes in 75+ legal-related categories. The voting process is purely democratic, and the results represent the candid viewpoints of New York Law Journal readers and members of the New York legal community.
Additionally, based on the Bank's 2021 placement on the list, it also earned inclusion in New York Law Journal's 'Best of' Hall of Fame, for the fourth consecutive year. The Hall of Fame is awarded to entities that placed in 'Best of' for at least three of the past four years thus repeatedly receiving the highest ratings from New York Law Journal readers and the New York legal community.
Since 2010 when the New York Law Journal began surveying its readers for its 'Best of' listing, Signature Bank has consistently secured the top spot or ranked in the top three in the Business Bank, Private Bank and Business Escrow Services categories. Throughout the past 12 years, the Bank ranked #1 in the Best Business Bank category seven times and also placed in the top three in five other years. It is also the 11th consecutive year where Signature Bank ranked in the top three of the Private Bank category (number one for five consecutive years), and the 10th straight year it placed in the top three in the Business Escrow Services category (including ranking number one for the past five straight years and seven times in total).
'Signature Bank's founding single-point-of-contact model was created to provide dedicated, relationship-based banking services to clients through our veteran private client banking teams. They work closely and seamlessly with clients to ensure all needs are met through one point of contact. This has become the hallmark of our franchise, earning Signature Bank this prestigious placement in New York Law Journal's 'Best of' ranking yet again,' said Joseph J. DePaolo, Signature Bank President and Chief Executive Officer.
'In particular, we have long-served law firms as our client-centric model has proved extremely beneficial to them. We deeply appreciate the time our legal clients took to cast their votes for Signature Bank and thank them for their continued trust. Their loyalty has once again enabled our institution to stand out amid some of the largest global banking entities. We are proud of the efforts of all our colleagues, which led us to our 12th appearance on this list,' DePaolo concluded.
New York Law Journal is a reliable news source for attorneys, designed to keep the fast-paced New York-area legal community up to date on industry trends and developments. The publication is owned by ALM, a global leader in specialized business news and information serving the legal, real estate, consulting, insurance and investment advisory industries.
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 $96.9 billion in assets as of June 30, 2021. With $85.6 billion in deposits at second quarter-end 2021, Signature Bank placed 22nd 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.
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. Considering 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.
Eric R. Howell, Senior Executive Vice President -
Chief Operating Officer
Susan Turkell Lewis, 646-822-1825, email@example.com