Signature Bank (SBNY) is a full-service commercial bank that operates primarily in the New York metropolitan area. It was founded in 2001 and is headquartered in New York City. The bank provides a wide range of commercial banking products and services, including deposit accounts, loans, and cash management services to businesses and individuals.
One of Signature Bank's key differentiators is its focus on serving the needs of privately owned businesses and their owners. The bank's management team has extensive experience working with this client base and has built its product offerings and delivery systems with their needs in mind. This has allowed Signature Bank to establish a strong reputation as a premier banking partner for small and mid-sized businesses in the New York City area.
Signature Bank operates through a network of 36 private client offices located in the New York metropolitan area, as well as in California, Florida, and Connecticut. In addition, the bank offers a range of online and mobile banking services, which allow customers to manage their accounts and access banking services remotely.
As of December 31, 2021, Signature Bank had total assets of $86.5 billion, total deposits of $76.1 billion, and total loans of $57.2 billion. The bank has consistently generated strong financial results, with net income of $551.1 million in 2021, up from $268.9 million in 2020. This growth in earnings was driven by strong loan growth, a rebound in fee income, and a favorable credit environment.
Signature Bank has also been recognized for its strong corporate governance and commitment to social responsibility. In 2021, the bank was named one of America's Best Banks by Forbes magazine and was included on the Dow Jones Sustainability North America Index for the fourth consecutive year.
In conclusion, Signature Bank is a well-established and highly regarded commercial bank that has built a strong reputation for serving the needs of privately owned businesses and their owners. The bank's extensive product offerings, experienced management team, and commitment to social responsibility position it well for continued success in the future.
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