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Signature Bank Announces Upsize and Pricing of Public Stock Offering


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Signature Bank (NASDAQ:SBNY), a New York-based full-service commercial bank, announced today the upsize and pricing of its underwritten offering of 2,500,000 shares of common stock at $232 per share. The offering was upsized from the previously announced offering size of 2,100,000 shares of common stock. The Bank has also granted to the underwriters a 30-day option to purchase up to 375,000 additional shares of common stock. The Bank intends to use the proceeds from the offering for general corporate purposes.
Morgan Stanley and BofA Securities are acting as the bookrunners in the offering. Closing of the offering is expected to occur on or about July 23, 2021, subject to customary closing conditions. ....

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Signature Bank Reports 2021 First Quarter Results


Press release content from Business Wire. The AP news staff was not involved in its creation.
Signature Bank Reports 2021 First Quarter Results
April 21, 2021 GMT
NEW YORK (BUSINESS WIRE) Apr 21, 2021
Signature Bank (Nasdaq: SBNY), a New York-based full-service commercial bank, today announced results for its first quarter ended March 31, 2021.
Net income for the 2021 first quarter was $190.5 million, or $3.24 diluted earnings per share, versus $99.6 million, or $1.88 diluted earnings per share, for the 2020 first quarter. The increase in net income for the 2021 first quarter, versus the comparable quarter last year, is primarily the result of an increase in net interest income, fueled by strong average deposit and loan growth, as well as the absence of a higher provision for credit losses booked in the first quarter of 2020, which was predominantly due to the effects of COVID-19 on the U.S. economy. Pre-tax, pre-provision earnings were $272.8 million, represe ....

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Signature Bank (SBNY) Q1 2021 Earnings Call Transcript


Operator
Welcome to Signature Bank s 2021 First Quarter Results Conference Call. Hosting the call today from Signature Bank are Joseph DePaolo, President and Chief Executive Officer and Eric Howell, Senior Executive Vice President, Corporate and Business Development. Today s call is being recorded.
At this time, all participants have been placed in a listen-only mode [Operator Instructions]
It is now my pleasure to turn the floor over to Joseph DePaolo, President and Chief Executive Officer.
You may begin.
President and Chief Executive Officer
Thank you Erica. Good morning and thank you for joining us today for the Signature Bank 2021 First Quarter Results Conference Call. Before I begin my formal remarks. Please go ahead, Susan. ....

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