On March 20, 2023, Flagstar Bank, N.A (“Flagstar”), the wholly owned subsidiary of New York Community Bancorp Inc. (“NYCB”), Hicksville, New York, acquired $12.9 billion of Signature Bank’s loans and assumed $38.4 billion in deposits. Flagstar also acquired all 40 of Signature’s branches, which are now operated under the Flagstar name. This announcement is a significant advantage to our clients and their business, as it highlights a partnership of like-minded, client-forward institutions. This transaction provides significant diversification and strength needed in today’s banking system while further advancing NYCB and Flagstar’s strategic plan to transition to a commercial bank model. It also unites the key assets of two banks with complementary strategies to create a commercial bank powerhouse. With this transaction, Flagstar will be one of the larger commercial banks in the country, with a fortress-like balance sheet, strong liquidity, and excellent asset quality metrics. The regulatory approval of the acquisition reflects the strength of the combined institution. Our clients will continue to be serviced by their Private Client Group in the same client-centric single-point-of-contact strategy. The company is headquartered in Hicksville, New York, with regional headquarters in Troy, Michigan and a presence in several major cities across the country. Our goal is to deliver a new energy in finance.
View Top Employees from Signature BankWebsite | http://www.signatureny.com |
Ticker | SBNY |
Revenue | $1.32 billion |
Funding | $257.2 million |
Employees | 1,075 (1,075 on RocketReach) |
Founded | 2001 |
Address | 565 5th Ave, New York City, New York 10017, US |
Phone | (646) 822-1500 |
Technologies |
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Industry | Banking, Finance, Financial Services, Investment Banking, Lending and Investments, Brokerage, Insurance |
Web Rank | 570446 |
Web Visits | 81490 |
Keywords | Commercial Banking, Asset Management, Commercial Loans, Bank, Small Business, Financial Planning, Business Banking |
Competitors | East West Bank, IDB Bank, NBT Bank, Northpointe Bank, Rockland Trust |
SIC | SIC Code 62 Companies, SIC Code 60 Companies |
NAICS | NAICS Code 5241 Companies, NAICS Code 522 Companies, NAICS Code 5221 Companies, NAICS Code 52 Companies, NAICS Code 524 Companies |
Looking for a particular Signature Bank employee's phone or email?
The Signature Bank annual revenue was $1.32 billion in 2024.
Joseph DePaolo is the President and Chief Executive Officer, Director of Signature Bank.
1,075 people are employed at Signature Bank.
Signature Bank is based in New York City, New York.
The NAICS codes for Signature Bank are [5241, 522, 5221, 52, 524].
The SIC codes for Signature Bank are [62, 60].