Signature Bank Reports 2012 Fourth Quarter and Year-End Results

Deposit Growth, Loan Growth and Net Income All Reach Record Levels in 2012

• Net Income for the 2012 Fourth Quarter Reached a Record $50.1 Million, or $1.05 Diluted Earnings Per Share, An Increase of $10.1 Million, or 25.4 Percent, from $40.0 Million, or $0.85 Diluted Earnings Per Share Reported in the 2011 Fourth Quarter.
• Net Income for 2012 Reached a Record $185.5 Million or $3.91 Diluted Earnings Per Share, Compared with $149.5 Million or $3.37 Diluted Earnings Per Share in 2011, Up $36.0 Million, or 24.0 Percent.
• Deposits in the Fourth Quarter Rose $459.0 Million to $14.08 Billion. Average Deposits Increased $608.7 Million, or 4.6 Percent, in the 2012 Fourth Quarter.
• Deposits for 2012 Grew a Record $2.33 Billion, or 19.8 Percent. Core Deposits Up a Record $2.17 Billion, or 19.8 Percent. Average Deposits for 2012 at $13.08 Billion, Representing an Increase of $2.21 Billion, or 20.4 Percent, Versus $10.86 Billion in 2011.
• Loans Increased a Record $1.02 Billion, or 11.6 Percent, to $9.77 Billion in the 2012 Fourth Quarter Marking the Fourth Consecutive Quarter of Record Loan Growth. Since Year-end 2011, Loans Increased a Record $2.92 Billion, or 42.6 Percent.
• Non-Accrual Loans Decreased to $27.2 Million, or 0.28 Percent of Total Loans, at December 31, 2012, Versus $28.0 Million, or 0.32 Percent of Total Loans, at the End of the 2012 Third Quarter. Non-Accrual Loans at Year-end 2011 were $42.2 Million, or 0.62 Percent of Total Loans.
• Net Interest Margin Was 3.53 Percent for the 2012 Fourth Quarter, Compared with 3.56 Percent for the 2012 Third Quarter and 3.55 Percent for the 2011 Fourth Quarter.
• Core Net Interest Margin, Which Excludes Loan Prepayment Penalty Income, was 3.32 Percent for the 2012 Fourth Quarter, Compared with 3.41 Percent for the 2012 Third Quarter.
• Tier 1 Leverage, Tier 1 Risk-Based and Total Risk-Based Capital Ratios were 9.51 Percent, 15.32 Percent and 16.35 Percent, Respectively, at December 31, 2012. Signature Bank Remains Significantly Above FDIC “Well-Capitalized” Standards. Tangible Common Equity Ratio was 9.45 Percent.
• One Private Client Banking Team Joined During the 2012 Fourth Quarter; Four During the Full Year. Additionally, the Bank Launched Signature Financial in 2012, Marking Its Entry Into the Specialty Finance Arena.