Signature Bank Files 2022 Form 10-K: Ready for Growth in 2023

Summary

  • Signature Bank released its 2022 Form 10-K for the fiscal year ended December 31, 2022.
  • Signature Bank is a New York-based full-service commercial bank with 40 private client offices throughout the metropolitan New York area.
  • As of December 31, 2022, Signature Bank reported $110.36 billion in assets and $88.59 billion in deposits.

Company Overview

Signature Bank (Nasdaq: SBNY) is a New York-based, full-service commercial bank with 40 private client offices throughout the metropolitan New York area, as well as those in Connecticut, California, Nevada, and North Carolina. Through its single-point-of-contact approach, the Bank’s private client banking teams primarily serve the needs of privately owned businesses, their owners and senior managers. The Bank has two wholly owned subsidiaries: Signature Financial which provides equipment finance and leasing; and Signature Securities Group Corporation which is a licensed broker dealer offering investment brokerage services. Signature Bank was also the first FDIC insured bank to launch a blockchain based digital payments platform called Signet™ that allows customers to make real time payments in U.S. dollars twenty four hours a day seven days a week. As of December 31st 2022 they reported $110.36 billion in assets and $88.59 billion in deposits making them 19th on S&P Global’s list of largest banks in US based on deposits at year end 2021 according to Business Wire report dated March 2nd 2023 8:01 pm EST

2022 Form 10-K

On March 1st 2023 Signature Bank filed it’s 2022 Form 10-K for the fiscal year ended December 31st 2022 which can be found on their website here https://www.signatureny.com/investor_relations/annual_reports/. This form reports financial information such as total assets and total deposits for the company during this period as well as other important information regarding their operations and strategy moving forward into 2023

Signet Blockchain Platform

The Signet blockchain platform was launched by Signature Banks allowing commercial clients to make real time payments using US dollars 24 hours a day 7 days a week becoming the first blockchain based solution approved by NYS Department of Financial Services according to Business Wire report dated March 2nd 2023 8:01 pm EST

Financial Performance

According to Business Wire report dated March 2nd 2023 8:01 pm EST Signature Banks reported $110.36 billion in assets and $88.59 billion in deposits as of December 31st 2022 ranking them 19th on S&P Global’s list of largest banks in US based on deposits at year end 2021

Signature Banks continues to invest heavily into technology solutions such as blockchain platforms which have allowed them to remain competitive within the banking industry while also producing strong financial performance reporting over one hundred ten billion dollars worth of assets under management at end of 2022