Signature Bank Announces Availability of Materials for 2023 Annual Shareholders’ Meeting and Special Meeting of Holders of Series A Preferred Stock

Rhea-AI Summary

Signature Bank (NASDAQ:SBNY) announced the availability of proxy materials for its 2023 Annual Meeting of Shareholders, set for April 19, 2023, at 9:00 AM ET in New York. The record date for eligible shareholders is February 28, 2023. Shareholders will receive a proxy statement along with the 2022 Annual Report. Signature Bank, with $110.36 billion in assets and $88.59 billion in deposits as of December 31, 2022, ranks 19th among U.S. banks by deposits as of year-end 2021. The bank operates 40 private client offices and offers various financial services, including equipment financing and investment products.

Positive

• Proxy materials for the 2023 Annual Meeting are available, allowing shareholders to participate.
• Impressive asset size of $110.36 billion and deposits of $88.59 billion as of December 31, 2022.

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- Signature Bank (Nasdaq:SBNY), a New York-based, full-service commercial bank, announced today the Bank’s proxy materials for its 2023 Annual Meeting of Shareholders are now available and also can be viewed via the Internet. The meeting will also constitute a special meeting of Signature Bank’s 5.000% Noncumulative Perpetual Series A Preferred Stock.

The record date for determination of shareholders entitled to vote at the 2023 Meeting is February 28, 2023. A proxy statement with more information will be sent to shareholders of record along with a 2022 Annual Report. Both documents will be available for viewing through the investor relations section of Signature Bank’s website at www.signatureny.com.

Signature Bank’s 2023 Meeting will be held on Wednesday, April 19, 2023 at 9:00 a.m. (Eastern Time) at 1400 Broadway, New York, NY, 10018.

About Signature Bank

Signature Bank, member FDIC, is a New York-based full-service commercial bank with 40 private client offices throughout the metropolitan New York area, as well as those in Connecticut, California, Nevada, 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. 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 blockchain-based solution to be approved for use by the NYS Department of Financial Services.

Since commencing operations in May 2001, Signature Bank reported $110.36 billion in assets and $88.59 billion in deposits as of December 31, 2022. Signature Bank placed 19^th on S&P Global’s list of the largest banks in the U.S., based on deposits as of year-end 2021.

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 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/20230310005135/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

Source: Signature Bank

FAQ

When is the Signature Bank 2023 Annual Meeting of Shareholders?

The Signature Bank 2023 Annual Meeting of Shareholders is scheduled for April 19, 2023, at 9:00 AM ET.

What is the record date for the Signature Bank 2023 Annual Meeting?

The record date for shareholders entitled to vote at the 2023 Annual Meeting is February 28, 2023.

Where can I find the proxy materials for Signature Bank?

Proxy materials for Signature Bank can be viewed through the investor relations section of their website.

What is Signature Bank's asset size as of December 31, 2022?

As of December 31, 2022, Signature Bank reported $110.36 billion in assets.

How many offices does Signature Bank have?

Signature Bank operates 40 private client offices throughout the New York metropolitan area.