NEW YORK--(BUSINESS WIRE)--Signature Bank (Nasdaq: SBNY), a New York-based full-service commercial bank, announced today it was named the Gold Stevie® Award winner in two categories of The 15th Annual American Business Awards: Company of the Year - Banking – Large, and Company of the Year - Financial Services - Large categories.
The American Business Awards are the nation’s premier business awards program. All organizations operating in the U.S.A. are eligible to submit nominations – public and private, for-profit and non-profit, large and small.
Nicknamed the Stevies for the Greek word meaning “crowned,” the awards were presented to winners at a gala ceremony at the Marriott Marquis Hotel in New York on Tuesday, June 20.
More than 3,600 nominations from organizations of all sizes and in virtually every industry were submitted this year for consideration in a wide range of categories, and 190+ professionals worldwide participated in the judging process to select this year’s Stevie Award winners.
“Each year the judges find the quality and variety of the nominations to be greater than the year before. The 2017 competition was intense and every organization that has won should be proud,” said Michael Gallagher, president and founder of the Stevie Awards.
“Signature Bank is honored to be recognized by the prestigious Stevie Awards program and to earn Gold awards in two company categories. Since our founding and startup, we have built an institution that prides itself on the client relationships we cultivate and sustain, and the veteran banking teams who serve as their single point of contact. It was rewarding to read the judges’ comments recognizing our growth from an entrepreneurial startup to a $40 billion institution. Judges noted the Bank was a ‘great story of a from-scratch company on an extended upward trajectory,’ and that our submission offered ‘entrepreneurial insight into a tradition-heavy industry and growth to prove its worth,’” stated Joseph J. DePaolo, co-founder, president and chief executive office at Signature Bank.
“We built Signature Bank with a mission to provide privately owned businesses an unparalleled, relationship-based banking experience. Since our inception 16 years ago, we have certainly demonstrated our commitment to client care. To this end, the judges said the Bank has a ‘very strong track record and clear differentiation within the market,’ and that our ‘nine consecutive years of growth is very hard to beat.’ We are gratified the judges noticed our growth, and as a result, our fast-growing enterprise was bestowed with two Gold awards,” DePaolo added.
Details about The American Business Awards and the list of 2017 Stevie winners are available at www.StevieAwards.com/ABA.
About the Stevie Awards
Stevie Awards are conferred in seven programs: the Asia-Pacific Stevie Awards, the German Stevie Awards, The American Business Awards, The International Business Awards, the Stevie Awards for Women in Business, the Stevie Awards for Great Employers, and the Stevie Awards for Sales & Customer Service. Stevie Awards competitions receive more than 10,000 entries each year from organizations in more than 60 nations. Honoring organizations of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide. Learn more about the Stevie Awards at http://www.StevieAwards.com.
About Signature Bank
Signature Bank, member FDIC, is a New York-based full-service commercial bank with 30 private client offices throughout the New York metropolitan area, including those in Manhattan, Brooklyn, Westchester, Long Island, Queens, the Bronx, Staten Island and Connecticut. The Bank’s growing network of private client banking teams serves the needs of privately owned businesses, their owners and senior managers.
Signature Bank offers a wide variety of business and personal banking products and services. Its specialty finance subsidiary, Signature Financial, LLC, provides equipment finance and leasing. Signature Securities Group Corporation, a wholly owned Bank subsidiary, is a licensed broker-dealer, investment adviser and member FINRA/SIPC, offering investment, brokerage, asset management and insurance products and services.
Since commencing operations in May 2001, the Bank has grown to $40.27 billion in assets, $30.02 billion in loans, $32.94 billion in deposits, $3.76 billion in equity capital and $3.33 billion in other assets under management as of March 31, 2017. Signature Bank's Tier 1 and risk-based capital ratios are significantly above the levels required to be considered well capitalized.
Signature Bank ranked on Forbes' Best Banks in America list for the seventh consecutive year in 2017 and was named Best Business Bank for the third consecutive year by the New York Law Journal in the publication’s seventh annual reader survey. The Bank also ranked second in the Best Private Bank and Best Attorney Escrow Services categories in the listing. Additionally, Signature Bank was cited among the top three of the nation's best private banking services providers in the 2017 Best of The National Law Journal reader rankings. The Bank was also named Best Commercial Bank of the Year - U.S. by International Banker in their International Banker 2017 North and South American Awards program.
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. 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 future results, interest rates and the interest rate environment, loan and deposit growth, loan performance, operations, new private client teams and other hires, new office openings and business strategy. These statements often include words such as "may," "believe," "expect," "anticipate," "intend," “potential,” “opportunity,” “could,” “project,” “seek,” “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 and (vi) competition for qualified personnel and desirable office locations. 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. 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.