Signature Bank (Nasdaq: SBNY), a New York-based full-service commercial bank, announced today that it ranked third on Forbes’ list of the Best Banks in America. This marks Signature Bank’s third consecutive appearance on the list, each time ranking in the top 10.
Forbes used eight metrics of financial health to rank banks nationwide, from data provided them by SNL Financial, including: return on average equity; net interest margin; nonperforming loans (NPLs) as a percentage of loans; nonperforming assets as percentage of assets; reserves as a percentage of NPLs; two capital ratios (Tier 1 and risk-based); and leverage ratio. The data was based on regulatory filings of public banks and thrifts through the 2012 third quarter.
The fourth annual ranking of Forbes’ America’s Best and Worst Banks was released on Tuesday, December 18, 2012 on www.forbes.com.
“Our unwavering commitment to serving privately owned businesses and attracting seasoned bankers to join our network led to another year of record financial performance, and Signature Bank earning this prestigious recognition from Forbes, as we moved up two notches since our fifth place ranking last year. This achievement is truly a testament to the efforts of our growing network of private client banking teams in garnering deposits and expanding our loan portfolio. This acknowledgment also demonstrates the loyalty of our dedicated clients, who favor the single-point of-contact approach we offer and level of client care and service they receive at Signature Bank,” noted Signature Bank President and Chief Executive Officer Joseph J. DePaolo.About Signature Bank Signature Bank, member FDIC, is a New York-based full-service commercial bank with 26 private client offices throughout the New York metropolitan area. 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. The Bank operates Signature Financial, LLC, a specialty finance subsidiary focused on equipment finance and leasing, transportation financing and taxi medallion financing. Investment, brokerage, asset management and insurance products and services are offered through the Bank’s subsidiary, Signature Securities Group Corporation, a licensed broker-dealer, investment adviser and member FINRA/SIPC.