NEW YORK--(BUSINESS WIRE)--March 19, 2008--Signature Bank (Nasdaq: SBNY), a New York-based full-service commercial bank, announced today the addition of a new private client banking team that will work from its 565 Fifth Avenue office in New York's Midtown Manhattan, the Bank's corporate headquarters.
John J. Mulvanerty, with a banking career spanning more than 25 years, was named Group Director and Senior Vice President. Throughout his extensive financial services career, Mulvanerty held various leadership roles at several major banks throughout the metropolitan-New York area.
Most recently, Mulvanerty served as a business financial advisor at Merrill Lynch's 717 Fifth Avenue office in Manhattan. There, he co-created a private banking practice focused on the provision of a broad range of financial services to commercial clients, their principals and employees. Prior, he held several senior-level credit positions at financial services institutions such as Washington Mutual/The Dime Savings Bank of NY, European American Bank and Fleet Bank, N.A./Natwest Bank, N.A.
Joining Mulvanerty is Nella Agostino, who was named Senior Client Associate at Signature Bank. She has worked with Mulvanerty for the past eight years.
"We welcome John to the Bank, and recognize that his long-standing reputation and experience within the commercial banking arena make him and his team an excellent fit within our organization. Over the years, John has built a solid career serving both commercial and non-profit entities located throughout the New York marketplace. He has a broad background servicing clients ranging from those in the professional services arena and other service businesses as well as those engaged in manufacturing, media and entertainment, and real estate sectors," commented Joseph J. DePaolo, President and Chief Executive Officer at Signature Bank.
"John's extensive credit background and knowledge of the metro-NY commercial banking landscape and lending environment, coupled with the many relationships he has garnered, will allow him to flourish at Signature Bank," DePaolo further noted.
Mulvanerty commented on his decision to join Signature Bank, stating: "Signature Bank's business model and culture is centered around empowering Group Directors to offer a full array of financial solutions and the highest levels of client care that span various industries and range in size and location. This diversity affords us an appropriate platform to further enhance the banking enterprise we have built over the past two decades and to bring Signature Bank's single point-of-contact approach to clients."
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.
For more information, please visit www.signatureny.com.
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.
