Signature Bank Ranks Number One in Three Categories of New York Law Journal’s 10th Annual “Best of” Survey

October 7, 2019

Source: Business Wire

Signature Bank (Nasdaq: SBNY), a New York-based full-service commercial bank, announced today it was named #1 in the Business Bank, Private Bank and Attorney Escrow Services categories of the New York Law Journal’s “Best of” 10th annual survey of the New York legal community. Furthermore, 2019 also marks the 10th consecutive year in which Signature Bank earned a top three position in one or more of those same categories.

With this year’s ranking, Signature Bank again earned a place in New York Law Journal’s Hall of Fame. The Hall of Fame is awarded to entities that placed in "Best of" for at least three of the past four years thus repeatedly receiving the highest ratings from New York Law Journal readers and the New York legal community.

The rankings, which were revealed in the October 7, 2019 edition of the New York-area’s leading legal trade publication, reflect the votes of thousands of attorneys and other legal professionals, who were eligible to cast votes in 80+ legal-related categories. The voting process is purely democratic, and results represent the candid opinions of New York Law Journal readers and members of the New York legal community.

Since 2010 when the New York Law Journal began surveying its readers for this “Best of” listing, Signature Bank has consistently secured the top spot or ranked in the top three in the Business Bank, Private Bank and Attorney Escrow Services categories. For the past 10 consecutive years, the Bank has been voted the Best Business Bank five times. It is also the ninth consecutive year where Signature Bank ranked in the top three of the Private Bank category (number one for the past three years), and the eighth straight year it placed in the top three in the Attorney Escrow Services category (including ranking number one for the past three straight years and five times overall).

“For the past decade, Signature Bank consistently led in categories of the New York Law Journal’s rankings where we competed with some of the world’s largest mega-banks. This is a true testament to our commitment to client care and the tireless efforts of our colleagues. The Bank was established to offer commercial clients highly personalized service, and this client-centric model is what earned the Bank recurrent outstanding placement on New York Law Journal’s list,” said Signature Bank President and Chief Executive Officer Joseph J. DePaolo.

“The law firms we serve have come to rely on the level of care and attention to detail we provide. We are honored they took time to cast their votes for Signature Bank. We thank the New York Law Journal for offering a platform where attorney and legal professionals are afforded the chance to express their opinions, and appreciate continually being recognized as a banking leader throughout New York’s legal community,” DePaolo said.

The New York Law Journal is a reliable news source for attorneys, designed to keep the fast-paced New York-area legal community up-to-date on industry trends and developments. The publication is owned by ALM, a global leader in specialized business news and information serving the legal, real estate, consulting, insurance and investment advisory industries.

About Signature Bank

Signature Bank, member FDIC, is a New York-based full-service commercial bank with 31 private client offices throughout the New York metropolitan area and Connecticut as well as San Francisco. The Bank’s growing network of private client banking teams serves the needs of privately owned businesses, their owners and senior managers.

Signature Bank’s 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.

Signature Bank recently introduced its revolutionary, blockchain-based digital payments platform, Signet™, enabling real-time payments for its commercial clients. The Signet Platform allows the Bank’s commercial clients to make payments in U.S. dollars, 24/7/365, safely and securely, without transaction fees. Signature Bank is the first FDIC-insured bank to launch a blockchain-based digital payments platform, and Signet is the first such platform to be approved for use by the NYS Department of Financial Services.

Since commencing operations in May 2001, the Bank has grown to $48.88 billion in assets, $37.93 billion in loans, $37.54 billion in deposits, $4.66 billion in equity capital and $3.53 billion in other assets under management as of June 30, 2019. Signature Bank's Tier 1 and risk-based capital ratios are significantly above the levels required to be considered well capitalized.

Signature Bank is one of the top 40 largest banks in the U.S., based on deposits (S&P Global Market Intelligence). The Bank recently earned several third-party recognitions, including: appeared on Forbes' Best Banks in America list for the ninth consecutive year in 2019; and, named number one in the Business Bank, Private Bank and Attorney Escrow Services categories by the New York Law Journal in the publication’s annual “Best of” survey for 2019, earning it a place in the New York Law Journal’s Hall of Fame (awarded to companies that have ranked in the “Best of” survey for at least three of the past four years). The Bank also ranked second nationally in the Business Bank, Private Banking Services and Attorney Escrow Service categories of the National Law Journal’s 2019 “Best of” survey.

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