Signature Bank history, company profile (overview) and history video
Signature Bank was a commercial bank headquartered in New York City, New York, United States. It had private client offices throughout the New York Metropolitan area, Connecticut, North Carolina and California.
Signature Bank offered a wide variety of business and personal banking products and services, as well as investment, brokerage, asset management and insurance products and services through its subsidiary, Signature Securities Group Corporation, a licensed broker-dealer and investment adviser. It also offers equipment financing through its subsidiary Signature Financial LLC.
HISTORY
Signature Bank was founded in 2001 by Joseph J. DePaolo, Scott A. Shay and John Tamberlane.
In 2004, the bank completed its Initial Public Offering (IPO) and began trading on the NASDAQ.
In 2018, the Bank expanded its footprint to the West Coast with the opening of its first private client banking office in San Francisco. Since then, its West Coast presence has grown with the opening of other offices throughout Northern and Southern California.
On March 12, 2023, Signature Bank was closed by the New York State Department of Financial Services.
On March 20, 2023, Flagstar Bank, N.A (“Flagstar”), the wholly-owned subsidiary of New York Community Bancorp Inc. (“NYCB”), acquired $12.9 billion of our loans and assumed $38.4 billion in deposits. Flagstar also acquired all the Signature Bank’s branches, which are now operated under the Flagstar name.
With more than 1,800 employees, Signature Bank was considered one of America’s Best Banks and one of the Largest Public Companies in the World, according to Forbes.
*Information from Forbes.com, Wikipedia.org, and www.signatureny.com.
**Video published on YouTube by “Companies History“.