Signature Bank Issues Mid-Quarter Financial Update in Advance of Participation in 2022 Wells Fargo Financial Services Investor Conference

Rhea-AI Summary

Signature Bank (SBNY) has issued a mid-quarter financial update prior to participating in the Wells Fargo Financial Services Investor Conference on May 18-19, 2022, in Chicago. Senior executives Eric Howell and Brian Wyremski will engage in investor meetings during the event. As of March 31, 2022, Signature Bank reported $121.85 billion in assets and $109.16 billion in deposits. The bank ranks 19th among the largest U.S. banks based on deposits at year-end 2021 and is known for launching a blockchain-based digital payment platform, Signet™.

Positive

• Reported $121.85 billion in assets as of March 31, 2022.
• Achieved $109.16 billion in deposits as of March 31, 2022.
• Ranked 19th largest bank in the U.S. based on deposits at year-end 2021.
• First FDIC-insured bank to launch a blockchain-based digital payments platform, Signet™.

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• None.

NEW YORK--(BUSINESS WIRE)-- Signature Bank (Nasdaq: SBNY), a New York-based, full-service commercial bank, announced today it issued a mid-quarter financial update in advance of its participation in the upcoming 2022 Wells Fargo Financial Services Investor Conference to be held Wednesday, May 18 - Thursday, May 19, 2022, at the JW Marriott in Chicago. The mid-quarter financial update can be found in the investor relations section of the Bank’s web site here.

The conference will consist of 40-minute one-on-one and group investor meetings with managements from leading financial services companies. Signature Bank’s Senior Executive Vice President and Chief Operating Officer Eric R. Howell and Senior Vice President and Director of Investor Relations and Corporate Development Brian Wyremski will participate in both group as well as one-on-one investor meetings during the conference.

About Signature Bank

Signature Bank (Nasdaq: SBNY), member FDIC, is a New York-based, full-service commercial bank with 38 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 $121.85 billion in assets and $109.16 billion in deposits as of March 31, 2022. Signature Bank placed 19^th on S&P Global’s list of the largest banks in the U.S., based on deposits at 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. 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/20220515005058/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

What is the financial update of Signature Bank (SBNY) for May 2022?

Signature Bank issued a mid-quarter financial update before the Wells Fargo Financial Services Investor Conference, reporting $121.85 billion in assets and $109.16 billion in deposits as of March 31, 2022.

When is Signature Bank participating in the Wells Fargo Conference?

Signature Bank will participate in the Wells Fargo Financial Services Investor Conference on May 18-19, 2022.

Who are the executives representing Signature Bank (SBNY) at the investor conference?

Eric R. Howell and Brian Wyremski will represent Signature Bank at the conference.

What notable technology did Signature Bank launch?

Signature Bank was the first FDIC-insured bank to launch a blockchain-based digital payments platform called Signet™.

How does Signature Bank (SBNY) rank among U.S. banks?

As of year-end 2021, Signature Bank ranked 19th among the largest banks in the U.S. based on deposits.