Signature Bank added Derrick Cephas to its Board of Directors

– USA, NY – Signature Bank (Nasdaq: SBNY), a New York-based full-service commercial bank, announced today the election of a new member to serve on its board of directors. Derrick D. Cephas joined the Signature Bank board, effective April 21, 2016, following his election at the Company’s Annual Meeting of Shareholders.

Cephas, who fills a seat vacated by Michael Pappagallo, is a partner at Weil, Gotshal & Manges LLP, a New York City-based international, full-service law firm. He has broad-based experience in the representation of commercial banks, thrift institutions, bank holding companies and foreign banking corporations across a wide range of regulatory and transactional matters. Cephas works closely with clients, counseling them with respect to compliance with the Dodd-Frank Act and the Volcker Rule as well as The Bank Holding Company Act and on enhanced prudential standards for large banks.

Prior to joining Weil, Gotshal & Manges, Cephas served as president and chief executive officer of Amalgamated Bank, which, at the time he served, was a $4.5 billion commercial bank headquartered in New York City. Previously, he was a banking and corporate law partner in the New York office of Cadwalader, Wickersham & Taft. Earlier, Cephas served as the Superintendent of Banks for the State of New York, from 1991 to 1994. He is a former member of the Board of Directors of the Dime Savings Bank of New York, Merrill Lynch International Bank and D.E. Shaw & Co. Inc. Currently, he is a Director of the Fresh Air Fund, Empire State Development Corporation, The New York City Board of Correction, Trevor Day School and the New York City Housing Authority as well as a member of the Board of Advisors for The Mayor’s Fund to Advance New York City.

“We welcome Derrick to the Board. He is a seasoned banking and legal professional with a well-rounded and distinguished career. He brings significant experience in public policy matters relating to the banking industry to the Signature Bank Board. Derrick’s extensive and diverse background led the members of our Board to conclude that his expertise would greatly complement our efforts. We look forward to his contributions. Concurrently, we thank Michael for his valuable guidance and counsel during the past three years that he served on the Board, a pivotal time in the growth and expansion of Signature Bank,” stated Signature Bank Chairman of the Board Scott A. Shay.

“As we continue on our path to distinguish the Bank in the marketplace, based on our single-point-of contact approach to relationship banking, we look forward to the support Derrick will give in furthering the Bank’s growth and financial performance. We are pleased to add someone to our Board with the vast knowledge and broad experience in the banking sector which Derrick possesses,” said Joseph J. DePaolo, President and Chief Executive Officer.

Signature Bank’s Board remains at its full complement with nine directors, six of whom are independent.

Cephas, 64, resides in New York City. He graduated with an A.B. degree from Harvard College and earned his J.D. degree at Harvard Law School.

About Signature Bank

Signature Bank, member FDIC, is a New York-based full-service commercial bank with 29 private client offices throughout the New York metropolitan area, including those in Manhattan, Brooklyn, Westchester, Long Island, Queens, the Bronx, Staten Island and Connecticut. The Bank’s growing network of private client banking teams serves the needs of privately owned businesses, their owners and senior managers.

Signature Bank offers a wide variety of business and personal banking products and services. Its specialty finance subsidiary, Signature Financial, LLC, provides equipment finance and leasing. Signature Securities Group Corporation, a wholly owned Bank subsidiary, is a licensed broker-dealer, investment adviser and member FINRA/SIPC, offering investment, brokerage, asset management and insurance products and services.

Since commencing operations in May 2001, the Bank has grown to $34.90 billion in assets, $25.04 billion in loans, $28.11 billion in deposits, $3.37 billion in equity capital and $5.20 billion in other assets under management as of March 31, 2016. Signature Bank’s Tier 1 and risk-based capital ratios are significantly above the levels required to be considered well capitalized.

Signature Bank ranked sixth on Forbes’ Best and Worst Banks in America 2016 list and third on leading trade journal Bank Director’s 2015 Bank Performance Scorecard for banks with assets between $5 and $50 billion.

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