Signature Bank Back on Track after Taxi Medallion Episode

New York-based Signature Bank reported Q3/17 net income was $124.5 million versus $76.1 million in the same 2016 quarter, which included $61.7 million of provision expense for the Chicago taxi medallion portfolio.

Signature Bank Q2 Earnings Suffer On Taxi Medallion Loan Losses

Ride hailing services like Uber and Lyft have put a dent in the taxi medallion business. Cartoonist Jerry Gonzalez illustrates Signature Bank’s uphill struggle to deal with those loan losses.

Signature Bank Q2 Earnings Suffer on Taxi Medallion Loan Losses

Signature Bank reported Q2/17 net income was $14.0 million compared to $102.2 million in Q2/16. The bank noted the decline resulted from an increase of $154.3 million in loan losses nearly all attributable to the NYC taxi medallion portfolio.

Signature Reports Record Q1 Earnings; Notes Taxi Medallion Loans

Signature Bank reported Q1/17 earnings were a record $133.9 million up 28.7% from $104.0 in Q1/16. The bank noted a significant increase in non-accrual loans attributed primarily to taxi medallion loans.

Signature Bank Adds New Team from Sterling

Signature Bank appointed a four-person private client team in White Plains, NY. Each of the members joins from Sterling Bank, where they held roles relating to commercial banking, finance and private banking.

Signature Bank Adds Duxbury to Lending Team as SVP

Signature Bank hired former American Chartered Bank and MB Financial veteran David Duxbury as senior vice president of its commercial lending team.

WFCF, Signature, Crystal Double Size of Gibraltar’s Borrowing Capacity

Gibraltar Business Capital and Gibraltar Capital Advance closed a new $101 million facility that increased their borrowing capital with Wells Fargo Capital Finance, Signature Bank and Crystal Financial.

Signature Named Best U.S. Commercial Bank of the Year

Signature Bank was named Best Commercial Bank of the Year in the U.S. in the International Banker 2017 North and South American Awards.

JPMorgan Chase Agents Realogy Upsize to $1.05B

Realogy Group entered into a fourth amendment to its credit agreement dated March 5, 2013, repricing its term loan and upsizing its revolver capacity to $1.05 billion. JPMorgan Chase Bank was administrative agent.

Signature Financial Hires Equipment Finance, ABL Specialists

Signature Financial has expanded both its specialty equipment finance subsidiary and its asset-based lending group.