SIGNATURE BANK (NY) - SBNY STOCK NEWS

Signature Bank (NASDAQ: SBNY), a New York-based commercial bank, will present at the Goldman Sachs 2022 US Financial Services Conference from December 6-7, 2022. Key executives Joseph J. DePaolo, Eric R. Howell, and Stephen Wyremski will participate in a fireside chat on December 6 at 1:00 p.m. ET. A live webcast and replay of the session will be available, with the replay archived for 180 days. As of September 30, 2022, Signature Bank reported $114.5 billion in assets and $102.8 billion in deposits, placing 19th in S&P Global's list of largest U.S. banks based on deposits.

Signature Bank (NASDAQ:SBNY) announced that its deposit relationship with FTX is under 0.1% of total deposits, reflecting minimal exposure. The bank does not engage in lending or investing in digital assets, focusing instead on traditional deposit banking. As of November 14, 2022, deposit balances in the digital asset sector remained stable at $23.5 billion. Signature Bank maintains strong capital and earnings, emphasizing its diversification and risk management strategies in the evolving digital asset landscape. Overall, the bank reported $114.5 billion in assets as of September 30, 2022.

In the third quarter of 2022, Signature Bank (SBNY) reported a record net income of $358.5 million, or $5.57 diluted EPS, reflecting a 48.5% increase year-over-year. Pre-tax, pre-provision earnings also hit a record at $492.3 million, up 48.7% from the previous year. Despite a $1.34 billion drop in total deposits, loans grew by 2.6% to $73.84 billion, with a net interest margin of 2.38%. The bank declared a cash dividend of $0.56 per share for common shareholders. Overall, strong financial metrics indicate a robust performance amidst challenging market conditions.

Signature Bank (NASDAQ: SBNY) has expanded its relationship with Coinbase Exchange, integrating Signet™, a blockchain-based digital payments platform. This integration allows Coinbase’s institutional clients to fund and settle their accounts in real-time, 24/7. Signature Bank's CEO, Joseph DePaolo, highlighted that this addition strengthens its position in the digital asset space, as Signet has been widely adopted since its launch in 2019. Coinbase's Jim Migdal expressed excitement about supporting innovative fiat rails to enhance liquidity for crypto investors.

Signature Bank (NASDAQ: SBNY), a full-service commercial bank based in New York, will host a conference call on October 18, 2022, at 9:00 AM ET to discuss its third quarter financial results for 2022. Results will be released prior to market open on the same day. The call will feature President Joseph J. DePaolo and other key executives, and participants can dial in or access via the bank’s website. The bank, with $116 billion in assets, is notable for being the first FDIC-insured bank to launch a blockchain-based digital payments platform.

Signature Bank (NASDAQ: SBNY) announced the opening of a new private client banking office in Reno, Nevada, expanding its West Coast operations. This addition brings the total number of teams in California and Nevada to 35, managed by 56 Group Directors across eight offices. The bank appointed Christopher Uboldi as Managing Group Director, supported by Andrew Backstrom as Group Director, both joining from Bank of the West. This expansion illustrates the bank's successful diversification strategy and commitment to improving market presence.

Signature Bank (NASDAQ: SBNY) has officially joined the Task Force on Climate-Related Financial Disclosures (TCFD) as of August 2022, enhancing its commitment to transparency regarding climate risks. The bank’s recent initiatives include disclosing Scope 1 and Scope 2 greenhouse gas emissions and diversity data from its 2022 EEO-1 report. This move aligns with shareholder demands for greater ESG transparency and builds on Signature's sustainability efforts showcased in its 2021 Social Impact Report. With $116 billion in assets as of June 30, 2022, Signature Bank continues to focus on community impact and responsible lending practices.

Signature Bank (Nasdaq: SBNY) has issued a mid-quarter financial update for the fiscal year 2022 third quarter. As of June 30, 2022, the bank reported assets totaling $116 billion and deposits of $104.12 billion. Signature Bank is recognized as the 19th largest U.S. bank based on deposits. Additionally, the bank operates 38 private client offices across New York, Connecticut, California, and North Carolina, enhancing its private client banking services.