CHICAGO--(BUSINESS WIRE)--Signature Bancorporation, Inc. today announced it has successfully secured $23.8 million in capital from individual investors to form Signature Bank. This funding represents the largest privately funded de novo bank capital raise in Illinois. Signature Bank is headquartered in Chicago.
“Signature Bank is making a strong commitment to business and retail banking customers in the Chicago community,” states Michael O’Rourke, president of Signature Bank. “We are proud to fill a void in the market – a community bank in Chicago that serves our area and has a vested interest in seeing local businesses succeed.”
Strong ties to Chicago and Illinois run deeper than branch location. Among the 249 shareholders, 87 percent are from Illinois and 45 percent are Chicago residents.
In addition to providing a “home town” banking experience to urban businesses and consumers, Signature Bank has also made significant technology investments allowing it to compete against larger national chains. Particular emphasis was placed on enabling operational efficiencies and on giving customers superior electronic banking capabilities.
“We wanted to give our customers a unique balance – a relationship with their bank they can only achieve with a community institution and access to cutting edge technology that exceeds the technology expectations of a typical bank customer,” states O’Rourke. “If our customers want to discuss their accounts in person, their banker will know them by name, at the same time, if they want the ability to manage their commercial and personal accounts online, they have that option, too – the best of both worlds.”
Signature Bank’s inaugural branch is located at 6400 N. Northwest Highway, Chicago, IL 60631 and can be reached at 773-467-5600.
The Management Team
The management team of Signature Bank comprises:
Michael O’Rourke is president and CEO of Signature Bank. A Chicago resident, he brings nearly 20 years of commercial banking and management experience to the company. Prior to forming Signature Bank, Mr. O’Rourke held management positions at Associated Bank Chicago and LaSalle Bank, N.A., and was a loan officer with American National Bank and Trust Company.
Kevin Bastuga, executive vice president for Signature Bank, has 13 years of experience in commercial and real estate development lending. Previously, Mr. Bastuga held management positions at Associated Bank Chicago and LaSalle Bank, N.A., where he focused on commercial lending and commercial real estate.
Bryan Duncan is an executive vice president at Signature Bank where he brings 13 years of experience in commercial banking. Prior to forming Signature Bank, Mr. Duncan held positions in commercial banking at Associated Bank Chicago and LaSalle Bank, N.A.
Louis Holub will serve as senior vice president and cashier for Signature Bank. Mr. Holub has nearly 30 years of commercial bank management experience. Previously, Mr. Holub served as cashier of American National Bank for several years until its merger with Bank One. Prior to joining Signature Bank, Mr. Holub was most recently employed as first vice president/trust operations by LaSalle Bank, N.A. in Chicago.
Jennifer Cortese, vice president of retail banking, has 16 years of experience in consumer and retail banking. Previously, Mrs. Cortese held a management position at LaSalle Bank, N.A. in Chicago.
About Signature Bank
Signature Bank is wholly owned by Signature Bancorporation, Inc. Signature Bancorporation is the largest privately funded de novo bank holding company in Illinois. Based in Chicago, Signature Bank specializes in middle-market commercial banking and is a full-service retail bank offering a breadth of financial product lines to consumers. Signature Bank offers a unique balance of relationship-driven service with leading-edge technology to provide customers with the personalization they expect from a community bank and the technology capabilities they demand from a national chain. Visit Signature Bank online at www.signature-bank.com