NEW YORK--(BUSINESS WIRE)--March 3, 2008--
Signature Bank (Nasdaq:SBNY), a New York-based full-service commercial bank, announced today the appointment of a new private client banking team to be based at its soon-to-open Jericho, N.Y. office, at 100 Jericho Quadrangle, on Long Island.
Steven Krauser and Frank Sabalja were both named Group Directors and Senior Vice Presidents. Each joins Signature Bank from North Fork Bank's corporate office in Melville, N.Y.
Krauser, who served as Senior Vice President in the business concierge group for five years, was responsible for forging relationships with commercial clients throughout the metropolitan New York area. He managed a team of 20 and focused on networking and business development strategies. Prior, he headed Network Associates, Inc., a privately held consulting group headquartered in Jericho, providing business development services to the financial services and legal industries.
Sabalja previously served as Senior Vice President and Risk Manager for the taxi medallion and dealer finance business lines at his former employer, where he was responsible for establishing relationships and overseeing the portfolio's credit quality. He directed a team of a dozen professionals for 10 years. Earlier, he was a lender to middle-market companies spanning a range of specialized industries in Suffolk County, Long Island. He also served in similar lending positions at Fleet Bank, Nat West Bank and European American Bank.
Krauser and Sabalja have worked together for the past five years.
Also joining their team at Signature Bank is former colleague Carrie
Garofalo, who was appointed to the post of Senior Client Associate.
Maria Rutigliano, who previously worked in Signature Bank-Garden City, will also serve as Senior Client Associate for this team.
Additionally, to support the underwriting needs of this team, John
Buoniconti, formerly with North Fork Bank, was named Lender and Vice President, reporting directly to Signature Bank's Chief Credit Officer Michael J. Merlo.
"This new team marks our 14th on Long Island, and the sixth that
has joined Signature Bank from North Fork Bank. We continue to expand our network by attracting talented banking professionals who recognize that Signature Bank's single-point-of-contact philosophy is in fact the most effective way to serve clients and conduct banking
operations," explained Joseph J. DePaolo, President and Chief
Executive Officer at Signature Bank.
"Steve, Frank and their team bring many years of local experience
and will eventually be based out of our new office in Jericho. Now,
with six offices on Long Island, we continue to emphasize our
commitment to this thriving business community and will reinforce our
presence here with this additional team appointment," DePaolo said.
Krauser and Sabalja both acknowledged that: "Signature Bank
affords its private client banking teams an autonomous environment and the ability to provide clients with the right products and services
for increasing their businesses coupled with an outstanding commitment to client care. With all the consolidation of late, there is simply no other platform like Signature Bank remaining today where bankers can feel responsible and accountable for their own books of business and client relationships. We look forward to our new venture and to serving our clients with the Signature Bank network behind us."
About Signature Bank
Signature Bank, member FDIC, is a New York-based full-service
commercial bank with 20 private client offices located in the New York
metropolitan area, serving the needs of privately owned businesses,
their owners and senior managers through dozens of private client
groups. The Bank offers 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, investment adviser and member NASD/SIPC.
Signature Bank's 20 offices are located throughout the metropolitan New York area.
In Manhattan - 261 Madison Avenue; 300 Park Avenue; 71 Broadway; 565 Fifth Avenue; 950 Third Avenue; 200 Park Avenue South and 1020 Madison Avenue.
Brooklyn - 26 Court Street; 84 Broadway and 6321 New Utrecht Avenue.
Westchester - 1C Quaker Ridge Road, New Rochelle and 360 Hamilton Avenue, White Plains. Long Island - 1225 Franklin Avenue, Garden City; 279 Sunrise Highway, Rockville Centre; 58 South Service Road, Melville; 923 Broadway, Woodmere; and 40 Cuttermill Road in Great Neck.
Queens - 36-36 33rd Street, Long Island City and 78-27 37th Avenue, Jackson Heights.
Bronx - 421 Hunts Point Avenue, Bronx.
Since commencing operations in May 2001, the Bank has grown to
$5.85 billion in assets, $4.51 billion in deposits, $426 million in
equity capital and $2.85 billion in other assets under management as
of December 31, 2007.
Visit Signature bank for more information.
This press release and oral statements made from time to time by
our representatives contain "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995 that
are subject to risks and uncertainties. Forward-looking statements
include information concerning our future results, interest rates and
the interest rate environment, loan and deposit growth, loan
performance, operations, new private client team hires, new office
openings and business strategy. These statements often include words
such as "may," "believe," "expect," "anticipate," "intend," "plan,"
"estimate" or other similar expressions. As you consider
forward-looking statements, you should understand that these
statements are not guarantees of performance or results. They involve
risks, uncertainties and assumptions that could cause actual results
to differ materially from those in the forward-looking statements.
These factors include but are not limited to: (i) prevailing economic
conditions; (ii) changes in interest rates, loan demand, real estate
values, and competition, which can materially affect origination
levels and gain on sale results in our business, as well as other
aspects of our financial performance; (iii) the level of defaults,
losses and prepayments on loans made by us, whether held in portfolio or sold in the whole loan secondary markets, which can materially affect charge-off levels and required credit loss reserve levels; and (iv) competition for qualified personnel and desirable office
locations. Additional risks are described in our quarterly and annual
reports filed with the FDIC. You should keep in mind that any
forward-looking statements made by Signature Bank speak only as of the date on which they were made. New risks and uncertainties come up from time to time, and we cannot predict these events or how they may affect the Bank. Signature Bank has no duty to, and does not intend to, update or revise the forward-looking statements after the date on which they are made. In light of these risks and uncertainties, you should keep in mind that any forward-looking statement made in this release or elsewhere might not reflect actual results.
