Signature Bank was a New York-based full-service commercial bank that served privately owned businesses, their owners and senior managers. Founded in 2001, the bank provided relationship-based banking through private client banking teams and operated primarily in the New York metropolitan area, with additional offices in California and North Carolina.
The bank offered business and personal deposit accounts, commercial lending, commercial real estate financing, multifamily and construction loans, wealth management, and other banking services. Signature also developed specialized industry practices for sectors such as healthcare, professional services, media and entertainment, and technology. Its Signet platform provided digital payments and settlement services for eligible institutional clients, including businesses involved in digital assets.
Joseph J. DePaolo, a co-founder of Signature Bank, served as its president and chief executive officer for much of its history. In March 2023, the New York State Department of Financial Services closed the bank and appointed the Federal Deposit Insurance Corporation as receiver. Signature Bank’s former deposits and certain assets were subsequently transferred to Flagstar Bank, a subsidiary of New York Community Bancorp, and the Signature Bank name is no longer associated with an operating publicly traded bank.
AI Generated. May Contain Errors.
