Signature Bank Earns $2.48 per Share

Signature Bank (SBNY) reported very strong Q1 earnings this morning of $2.15 per share. That’s five cents more than estimates, and it compares with $1.97 per share for last year’s Q1.

Net interest income rose 8.4%. Total assets increased 15.4% to $40.27 billion. In the last year, total deposits are up 17.2%. Net interest margin was 3.14%.

“We are pleased to begin 2017 by reporting another quarter of record earnings, driven by strong deposit and loan growth. Our results directly reflect the core values on which this institution was built nearly 16 years ago, to which we have remained steadfast since first opening our doors. The structure upon which Signature Bank was founded is straightforward. We continually execute on our sound and secure business plan that emphasizes a single-point-of-contact approach to relationship banking. All the necessary fundamentals have been put in place to allow us to face challenges that may arise, and we are confident in our abilities to successfully address them,” said Joseph J. DePaolo, Co-founder, President and Chief Executive Officer.

Posted by on April 19th, 2017 at 7:43 am

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