Signature Bank Names Rick Stein Group Director and Senior Vice President

NEW YORK--(BUSINESS WIRE)--Signature Bank (Nasdaq: SBNY), a New York-based full-service commercial bank, announced today that Rick Stein has joined the bank as Group Director and Senior Vice President, effective immediately. He will be based out of Signature Bank’s private client banking office at 261 Madison Avenue in Manhattan.

Stein is a recognized banking executive whose financial services career spans nearly 20 years. During this time, he has established a proven track record and earned an outstanding reputation as a veteran banker and leading producer in the industry.

Most recently, he was Senior Managing Director in the private banking area at North Fork Bank (now Capital One Bank), working from the 424 Madison Avenue branch (at 49^th Street). He spent eight years there serving a broad range of clients including corporations varying in size, real estate entities, physicians and medical groups, law, accounting and other professional services firms and non-profit organizations. He was a top producer in terms of deposit generation. Previously, Stein served in various roles at HSBC and its predecessor bank, Marine Midland Bank, including branch manager, commercial lender and business development officer. While at HSBC, he was also consistently recognized as a top performer.

Stein’s successful career is accentuated by the 11 years he spent in government and politics as a legislative executive for a New York Congressman. In this capacity, he specialized in housing and economic development.

“We are delighted Rick chose to join Signature Bank. He has been an enormously successful deposit gatherer throughout his entire banking career and is known as one of the metro-N.Y. area’s most talented bankers. Rick brings years of experience and contacts with him, which will benefit his clients and the Bank. We look forward to working with someone who was previously viewed as a key competitor and to the contributions he will make to our banking enterprise in his new role,” stated Joseph J. DePaolo, president and chief executive officer.

Stein said: “I am very pleased about becoming part of Signature Bank. First and foremost, the philosophy here at Signature Bank mirrors that of what my extensive career has been built upon. The entrepreneurial spirit, the commitment to client care, the dedication to providing the highest possible level of service from a single point of contact and the seasoned management team, are all key distinguishers and are among the reasons for my decision to join the Bank. Signature Bank has truly set itself apart in the marketplace in that it allows professionals like me to work autonomously and efficiently across all banking product and service areas. The Bank and its senior management will afford me the tools and resources necessary to effectively garner both deposits and loans.”

Stein graduated from The City University of New York (CUNY) in Manhattan, where he earned a Bachelor of Arts degree in American Studies with honors. He attended New York University and received his Master’s degree in Public Administration with highest honors, while working in Washington, D.C.’s House of Representatives. Stein resides in West Hampton, Long Island, N.Y., and Manhattan. For 10 years, he co-directed the Masquerade Ball in New York City to benefit the American Cancer Society. He is also involved in helping raise funds and awareness of Public Health Solutions (formerly Medical Health and Research Association of New York City), a not-for-profit organization that addresses public health challenges and develops, implements and advocates dynamic solutions to prevent disease and improve community health. Additionally, he works with Safe Horizons in New York City, which provides support, prevents violence and promotes justice for victims of crime and abuse, their families and communities. He assists in philanthropic initiatives for this important cause and raises funds to support the missions of many other non-profit groups.

About Signature Bank

Signature Bank, member FDIC, is a New York-based full-service commercial bank with 21 private client offices located in the New York metropolitan area, serving the needs of privately owned businesses, their owners and senior managers through dozens of private client groups. The Bank offers a wide variety of business and personal banking products and services as well as investment, brokerage, asset management and insurance products and services through its subsidiary, Signature Securities Group Corporation, a licensed broker-dealer, investment adviser and member NASD/SIPC.

Signature Bank's 21 offices are located throughout the metropolitan New York area. In Manhattan - 261 Madison Avenue; 300 Park Avenue; 71 Broadway; 565 Fifth Avenue; 950 Third Avenue; 200 Park Avenue South and 1020 Madison Avenue. Brooklyn - 26 Court Street; 84 Broadway and 6321 New Utrecht Avenue. Westchester - 1C Quaker Ridge Road, New Rochelle and 360 Hamilton Avenue, White Plains. Long Island - 1225 Franklin Avenue, Garden City; 279 Sunrise Highway, Rockville Centre; 58 South Service Road, Melville; 923 Broadway, Woodmere; 40 Cuttermill Road, Great Neck and 100 Jericho Quadrangle, Jericho. Queens - 36-36 33rd Street, Long Island City and 78-27 37th Avenue, Jackson Heights. Bronx - 421 Hunts Point Avenue, Bronx.

Since commencing operations in May 2001, the Bank has grown to $5.82 billion in assets, $4.59 billion in deposits, $433.0 million in equity capital and $3.66 billion in other assets under management as of March 31, 2008.

For more information, please visit 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 that are subject to risks and uncertainties. Forward-looking statements include information concerning our future results, interest rates and the interest rate environment, loan and deposit growth, loan performance, operations, new private client team hires, new office openings and business strategy. These statements often include words such as "may," "believe," "expect," "anticipate," "intend," "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. These factors include but are not limited to: (i) prevailing economic conditions; (ii) changes in interest rates, loan demand, real estate values, and competition, which can materially affect origination levels and gain on sale results in our business, as well as other aspects of our financial performance; (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; and (iv) competition for qualified personnel and desirable office locations. Additional risks are described in our quarterly and annual reports filed with the FDIC. 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. In light of these risks and uncertainties, you should keep in mind that any forward-looking statement made in this release or elsewhere might not reflect actual results.