SBNY Signature Bank

Also Named Second in Best in Business Bank Category; Consistently Ranked #1 or in Top Three for the Past 13 Years

Signature Bank (Nasdaq: SBNY), a New York-based full-service commercial bank, announced today it ranked in the top three for three categories within the New York Law Journal’s “Best of” 13th annual survey of the New York legal community.

The Bank ranked #1 in both the Private Bank and Business Escrow Services categories and #2 Business Bank. For the 13th consecutive year, Signature Bank ranked in a top three position annually in one or more of these same categories of the New York Law Journal’s survey.

The September 19th, 2022 edition of the New York Law Journal, a leading New York-area legal trade publication, revealed the “Best of” rankings, which reflect opinions of thousands of attorneys and other legal professionals who voted across 70+ legal-related categories. The voting process is purely democratic and represents opinions of New York Law Journal readers and members of the New York legal community.

Furthermore, based on Signature Bank’s 2022 rankings, it also earned inclusion in New York Law Journal’s "Best of” Hall of Fame, for the fifth 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.

The New York Law Journal began surveying its readers for its “Best of” listing in 2010, and since then, 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 13 years, the Bank ranked #1 in the Best Business Bank category seven times and also placed in the top three in six other years. It is also the 12th straight year where Signature Bank ranked in the top three of the Private Bank category (number one for six consecutive years), and the 11th consecutive year it placed in the top three in the Business Escrow Services category (including ranking number one for the past six back-to-back years and eight times in total).

Current and historical New York Law Journal rankings are as follows:

CATEGORY

2022

2021

2020

2019

2018

2017

2016

2015

2014

2013

2012

2011

2010

Business Bank

#2

 

#1

 

#1

 

#1

 

#1

 

#2

 

#1

 

#1

 

#1

 

#2

 

#3

 

#3

 

#2

Private Bank

#1

 

#1

 

#1

 

#1

 

#1

 

#1

 

#2

 

#2

 

#2

 

#2

 

#3

 

#2

 

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Business Escrow Services

#1

 

#1

 

#1

 

#1

 

#1

 

#1

 

#2

 

#1

 

#2

 

#1

 

#2

 

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“It truly is an honor for Signature Bank to have placed in the top three yet again in this prestigious ranking, primarily because it reflects the true opinions of the New York legal community where we serve many clients. The legal professional services realm is an area in which Signature Bank and its private client banking teams have focused upon and built a leadership niche. The high-ranking New York Law Journal results – for 2022 as well as the prior 12 years – clearly reflect the expertise we’ve garnered in providing client-centric care and service to New York’s thriving legal community, a feat for which we are quite proud,” said Joseph J. DePaolo, Signature Bank President and Chief Executive Officer.

“We attribute our 13 years of top positioning to our founding model whereby our veteran banking teams serve as the single point of contact for meeting all clients’ needs. It is the hallmark of our institution and the real reason so many members of the New York-area legal landscape continually rely on Signature Bank for banking services. We thank this community once again for casting their votes in favor of Signature Bank,” DePaolo added.

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 39 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 $116 billion in assets and $104.12 billion in deposits as of June 30, 2022. Signature Bank placed 19th on S&P Global’s list of the largest banks in the U.S., based on deposits as of year-end 2021.

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’ 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. Forward-looking and other statements may also address our sustainability progress, plans, and goals (including climate change and environmental-related matters and disclosures), which may be based on standards for measuring progress that are still developing, internal controls and processes that continue to evolve, and assumptions that are subject to change in the future. 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 and the conflict in Ukraine, which are having impacts 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220919005080/en/

Investor Contact: Brian Wyremski, Senior Vice President and Director of Investor Relations and Corporate Development 646-822-1479, bwyremski@signatureny.com Media Contact: Susan Turkell Lewis, 646-822-1825, slewis@signatureny.com