Signature Bank Archives

FDIC Blames Signature Bank Failure on ‘Poor Management’

The Federal Deposit Insurance Corporation released an internal review evaluating its supervision of Signature Bank. According to the review, “the root cause of [Signature Bank’s] failure was poor management.”

May 1, 2023 Federal Deposit Insurance Corporation | Signature Bank Ian Koplin

Wolters Kluwer Compliance Solutions Leader ‘Reassured’ by Federal Response to Bank Runs

According to Timothy Burniston, a regulatory compliance expert at Wolters Kluwer Compliance Solutions, markets should be reassured by the response of federal regulators to maintain stability in the U.S. banking system in the wake of the collapse of Silicon Valley Bank and Signature Bank.

Major US Banks Deposit $30B in First Republic in Wake of Silicon Valley Bank Collapse

Last week, 11 banks, including Bank of America, Citigroup, JPMorgan Chase and Wells Fargo, combined to make $30 billion in uninsured deposits in First Republic Bank to display confidence in the U.S. banking system following the collapse of Silicon Valley Bank.

FDIC Establishes Signature Bridge Bank as Successor to Closed Signature Bank

The New York State Department of Financial Services closed Signature Bank over the weekend and appointed the FDIC as receiver. The FDIC transferred all deposits and assets to a bridge bank that began operations on Monday.

March 14, 2023 Federal Deposit Insurance Corporation | Greg D. Carmichael | New York State Department of Financial Services | Signature Bank | Signature Bridge Bank Ian Koplin

Signature Bank Announces Leadership Transition Plans

Joseph J. DePaolo, president and CEO of Signature Bank, plans to transition into a senior advisor role during 2023. Eric R. Howell will succeed DePaolo as president, effective March 1, and eventually succeed as CEO once DePaolo gradually completes his transition.

Signature Bank Launches Healthcare Banking and Finance Business Line

Signature Bank launched a new business line with the appointment of a nine-person healthcare banking and finance team. Matthew T. Huber will lead the new business and team as senior vice president and managing group director.

BofA, BMO and Capital One Amend and Upsize Credit Facility for StoneX Group

StoneX Group agreed to amend its existing $401 million senior secured credit facility, extending the maturity through April 2025 and increasing the size of the facility to $475 million. Bank of America Merrill Lynch, Bank of Montreal and Capital One acted as joint lead arrangers on the credit facility

Signature Financial Promotes Equipment Finance Industry Veterans Campbell and Ash

Signature Financial promoted Robert Campbell to senior vice president and managing director of operations and strategic development and Michael Ash to senior vice president and managing director of capital markets and regional originations.

July 27, 2021 Michael Ash | Robert Campbell | Signature Bank | Signature Financial | Walter Rabin Ian Koplin

Signature Financial Launches New Business Lines, Appoints Mehosky and Jones as Leaders

Signature Financial, the specialty finance subsidiary of Signature Bank, launched two business lines: vendor industrial finance (VIF) and dealer lease and rental (DLR). Signature Financial chose Michael Mehosky to lead the VIF division and Michael Jones to lead the DLR platform.

BHI Restructures Business Team to Accommodate Expansion

BHI restructured its business team, appointing John Yoler head of BHI Commercial & Industrial and Gal Defes head of international C&I, high tech and investment services. In addition, Steven Caligor was appointed head of BHI’s commercial real estate division.

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