Search
 

Signature Bank Picks Up Extra $55M for Expansion

New York City-After nine months in business with seven locations currently up and running, parent company Bank Hapoalim has invested more cash in Signature to ensure its brisk expansion continues apace.

By Glen Thompson | Updated on March 01, 2002

New York City-After opening its seventh location in New Rochelle and with two more area branches in development, new kid Signature Bank got a surprise from parent company Bank Hapoalim, Israel’s largest bank. The fledgling financial player has received an additional $55-million investment that will enable it to continue the brisk expansion pace it has set since opening its first six stores on May 1, 2001.

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%.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.