Signature Bank
Other OTCCapital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- CEO
- Joseph John DePaolo
- Full Time Employees
- 2,243
- Sector
- Financial Services
- Industry
- Banks - Regional
- Address
- 565 Fifth Avenue New York City NY United States of America 10017
- IPO Date
- Mar 23, 2004
- CIK
- 0001288784
- Website
- signatureny.com
- Similar Companies
- Business
- Signature Bank (SBNY), a New York City-headquartered full-service commercial bank founded in 2001, provided business and personal banking products including checking accounts, money market accounts, certificates of deposit, commercial and industrial loans, real estate loans, letters of credit, asset management, brokerage services, insurance products, and specialized lending for industries such as commercial real estate, private equity, venture capital, mortgage servicing, and equipment financing; it operated through commercial banking and specialty finance segments with 40 private client offices in New York, Connecticut, California, Nevada, and North Carolina. The bank offered its proprietary Signet platform for real-time blockchain-based payments, particularly serving cryptocurrency firms that accounted for up to 30% of deposits by 2023, alongside wealth management for high-net-worth individuals and municipal finance through subsidiaries like Signature Securities Group Corporation and Signature Financial LLC. In March 2023, New York state regulators closed the bank amid a deposit run exceeding $10 billion following the Silicon Valley Bank failure, marking it as the third-largest U.S. bank failure with $110.4 billion in assets; the FDIC sold most deposits and branches to New York Community Bancorp's Flagstar Bank subsidiary, while excluding $60 billion in loans and $4 billion in digital asset deposits, with subsequent asset sales including a $631 million venture banking portfolio to Customers Bancorp and ongoing dispositions of private equity and commercial real estate loans.
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