NEW YORK–(BUSINESS WIRE)–Signature Bank (Nasdaq: SBNY), a New York-based full-service commercial bank, today announced a further expansion of its West Coast presence with the appointment of seasoned banking professionals and the opening of a new office of private banking in Reno, Nevada.
Signature Bank is now home to 35 teams on the west coast, led by 56 group directors from its eight offices. Additionally, the Bank’s West Coast footprint includes representation from its Signature Financial subsidiary as well as all of its national banking practices, including Fund Banking Division, Venture Banking Group, Specialized Mortgage Banking Solutions team and the SBA Lending team. Signature Bank is also elevating its operations and, to that end, is establishing an operations center in City of Industry, California to further support its growing businesses in the region and across the country.
To lead its banking efforts in Nevada, Signature Bank has appointed Christopher Uboldi as Group Managing Director and Senior Vice President. In this role, Uboldi will lead and manage six teams of private clients and 25 banking professionals throughout Nevada and the greater Sacramento, California area. Uboldi will be based in the Bank’s new private banking office located at 100 West Liberty Street, Suite 190, Reno, Nevada, 89501.
Uboldi, with 20 years of banking experience, joins Bank of the West, where he served as Regional Group Director and Senior Vice President, responsible for the Nevada and Northern California banking teams covering Las Vegas, Reno and the greater Sacramento area for 14 years. During his tenure, he oversaw a large portfolio and a team of 17 people.
Andrew Backstrom, with a banking career spanning three decades, has been appointed Senior Vice President and Group Director in Reno, where he will focus on increasing the Bank’s presence in the local market through the expansion of the customer base. He, too, comes from Bank of the West, having spent 15 years there as a team leader in corporate banking for Northern Nevada. Uboldi and Backstrom worked together for 14 years at their former employer.
“Since bringing our model from east to west, we have continued to demonstrate the success of our diversification strategy, with our west coast initiative being a key part of our growth plan. Our broad acceptance in Northern and Southern California by bankers and customers, coupled with significant new interest in Nevada, is a true testament to our single point of contact model and the expertise of our banking teams. private. Customers across the West Coast are certainly noticing our commitment and capabilities and responding positively,” said Joseph J. DePaolo, President and CEO of Signature Bank.
Judi Prejean, Executive Director of West Coast Operations for Signature Bank, added: “In just three years after placing our official West Coast participation in the midst of a global pandemic, Signature Bank continues to attract banking professionals. experienced and strengthen its position in the market. Now, with approximately 240 colleagues spread across California and Nevada, the Bank has quickly become the bank of choice for these experienced banking professionals who bring their strong reputation and deep local expertise to our business. We look forward to the contributions Chris and Andrew will make in their new leadership roles. »
About Signature Bank
Signature Bank (Nasdaq: SBNY), Member FDIC, is a New York-based full-service commercial bank with 39 private client offices throughout the New York metropolitan area, as well as Connecticut, California, Nevada and North Carolina. With its single-point-of-contact approach, the Bank’s retail banking teams primarily serve the needs of private businesses, their owners and senior executives.
The Bank has two wholly owned subsidiaries: Signature Financial, LLC, which provides financing and equipment leasing; and, Signature Securities Group Corporation, a licensed broker-dealer, investment advisor and member FINRA/SIPC, offers investment, brokerage, asset management and insurance products and services.
Since commencing operations in May 2001, Signature Bank has reached $116 billion in assets and $104.12 billion in deposits as of June 30, 2022. Signature Bank has placed 19e on S&P Global list of largest banks in the United States, based on deposits at the end of 2021.
Signature Bank was the first FDIC-insured bank to launch a blockchain-based digital payment platform. Bookmark™ enables business customers to make real-time payments in US dollars, 24/7/365 and was also the first solution to be approved for use by the NYS Department of Financial Services.
For more information, please visit https://www.signatureny.com.
This press release and oral statements made from time to time by our representatives contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. You should not place undue reliance on such statements as they are subject to many risks. and uncertainties relating to our business and our business environment, all of which are difficult to predict and may be beyond our control. Forward-looking statements include information regarding our expectations regarding future results, interest rate and interest rate environment, loan and deposit growth, loan performance, operations, new hires of private client teams, new office openings, business strategy and the impact of the COVID -19 pandemic on each of the above and our business as a whole. Forward-looking statements often include words such as “may”, “believe”, “expect”, “anticipate”, “intend”, “potential”, “opportunity”, “could”, “project “, “seek”, “target”, “goal”, “should”, “will”, “would”, “plan”, “estimate” or other similar expressions. Forward-looking and other statements may also address our sustainability progress, plans and goals (including climate change and environmental issues and disclosures), which may be based on standards for measuring progress that are still under development, internal controls and processes are ongoing. evolve and assumptions that may change in the future. When considering forward-looking statements, you should understand that these statements are not guarantees of performance or results. They involve risks, uncertainties and assumptions that could cause actual results to differ materially from those in the forward-looking statements and may change due to many possible events or factors, all of which are not known to us or within our control. These factors include, but are not limited to: (i) prevailing economic conditions; (ii) changes in interest rates, loan demand, real estate values and competition, which may materially affect origination levels and earnings on sales results in our business, as well as other aspects of our financial performance, including earnings on assets; (iii) the level of defaults, losses and prepayments on loans made by us, whether held in portfolio or sold in the general secondary loan markets, which may materially affect the levels of allocation and required credit loss reserve levels; (iv) changes in the monetary and fiscal policies of the United States government, including the policies of the United States Treasury and the Board of Governors of the Federal Reserve System; (v) changes in the regulatory environment for banks and other financial services; (vi) our ability to maintain the continuity, integrity, safety and security of our operations; and (vii) competition for qualified personnel and desirable office locations. All of these factors are subject to additional uncertainty in the context of the COVID-19 pandemic and the conflict in Ukraine, which are impacting all aspects of our operations, the financial services industry and the economy as a whole. Additional risks are described in our quarterly and annual reports filed with the FDIC. Although we believe these forward-looking statements are based on reasonable assumptions, beliefs and expectations, if anything changes or our beliefs, assumptions and expectations are incorrect, our business, financial condition, liquidity or results of operations could differ materially from those expressed in our forward-looking statements. You should keep in mind that any forward-looking statement made by Signature Bank speaks only as of the date on which it was made. New risks and uncertainties arise from time to time, and we cannot predict these events or their impact on the Bank. Signature Bank is under no obligation and does not intend to update or revise any forward-looking statements after the date on which they are made.