Signature Bank
#8486
Rank
$119.65M
Marketcap
United States
Country
Mr. Joseph John DePaolo (Co-Founder, Pres, CEO & Director)
Mr. John Tamberlane (Co-Founder & Vice Chairman)
Summary
Signature Bank provides commercial banking products and services. It accepts various deposit products, including checking accounts, money market accounts, escrow deposit accounts, cash concentration accounts, certificates of deposit, and other cash management products. The company provides various lending products comprising commercial and industrial loans, real estate loans, and letters of credit. In addition, it offers asset management and investment products; and retirement products, such as individual retirement accounts and administrative services for retirement vehicles. Further, the company provides wealth management services to its high net worth personal clients; and purchases, sells, and assembles small business administration loans and pools. Additionally, it offers individual and group insurance products, including health, life, disability, and long-term care insurance products for business and private clients. As of December 31, 2021, the company operated 37 private client offices located in the metropolitan New York area, Connecticut, California, and North Carolina. Signature Bank was incorporated in 2000 and is headquartered in New York, New York.
History
Signature Bank was founded in 2001. Founders Joseph J. DePaolo, the bank's current president and chief executive officer, Scott A. Shay, chairman of the board, and John Tamberlane, vice chairman and director, conceptualized the idea of a commercial bank that would cater to clients through a distinctive single-point-of-contact approach. This client-centric model focuses on serving the needs of privately owned businesses, their owners, and senior managers, an underserved market overlooked by competitors. Upon inception, the bank began competing against some of the nation's largest too-big-to-fail megabanks by catering to this market niche. This has since become the hallmark of Signature Bank's model and growth as it continues to target and successfully address the needs of this market.
The bank completed its initial public offering in March 2004 and began trading on the NASDAQ under the symbol SBNY. In 2018, the bank expanded its footprint and commenced operations on the West Coast with the opening of its first private client banking office in San Francisco, California. In 2020, the bank continued its expansion throughout southern California, opening new offices in Newport Beach, Woodland Hills, and Ontario.
Key Team
Mr. Stephen Wyremski (Sr. VP & CFO)
Mr. Eric Raymond Howell (Sr. EVP, COO & Director)
Mr. Vito Susca (Exec. VP & Chief Admin. Officer)
Mr. Kevin T. Hickey (Exec. VP, Chief Investment Officer & Treasurer)
Mr. Michael Sharkey (Sr. VP & CTO)
Brian Wyremski (Sr. VP and Director of Investor Relations & Corp. Devel.)
Ms. Ana M. Harris (Sr. VP & Chief HR Officer)
References
Mr. Joseph John DePaolo (Co-Founder, Pres, CEO & Director)
Mr. John Tamberlane (Co-Founder & Vice Chairman)