Signature Bank was named the second best bank in the country by Forbes magazine in its annual list of ‘Best Banks in America’ this year. With 27 private client offices throughout the metropolitan area, including in New Rochelle and White Plains, Signature advanced one notch ahead of last year.
Forbes uses nine criteria to measure the financial health of the 100 largest publicly traded banks and thrifts. The standards include examining the return on average equity, net interest margin, nonperforming loans as a percentage of loans, nonperforming assets as a percentage of assets, reserves as a percentage of NPLs, three capital ratios and revenue growth.
This is the latest ranking for Signature, after ABA Banking Journal ranked Signature Bank seventh in top performing big banks and The Bank Director Magazine ranked Signature fifth in its annual bank performance scorecard. It ranked first as an attorney escrow provider and second best business bank according to the legal periodical’s annual survey in the New York Law Journal.
The bank offers a wide range of business and personal banking products and services. It operates Signature Financial L.L.C., a specialty finance subsidiary focused on equipment finances and leasing, transportation financing and taxi medallion financing. The bank’s subsidiary Signature Securities Group Corp. offers investment, brokerage, asset management and insurance products and services.
