The cash infusion comes on the heels of a $60-million investment by Bank Hapoalim that enabled Signature to get its first six locations up and running. The bonus funding brings Signature Bank's core capital ratio to nearly 20%.
During its first nine months in business, Signature Bank's total assets put it in the top 10% of US commercial banks. Signature Bank and Signature Securities have a combined total of more than 10,000 accounts and more than $850 million in client assets. The wholly owned Bank Hapoalim subsidiaries are shooting for more than $2 billion in assets within three years.
Signature's current locations are 261 Madison Ave., 300 Park Ave., 71 Broadway, 565 Fifth Ave. and 950 Third Avenue in Manhattan, 26 Court St. in Brooklyn and 1C Quaker Ridge Road in New Rochelle. Locations for branches under development have not been released.
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