Signature Bank Appoints Venture Banking Group with National Presence

(Nasdaq:SBNY), a New York-based full-service commercial bank,
announced today it has formed a national Venture Banking Group to focus
on serving venture capital firms and the portfolio companies in which
they invest.

The 24-person Signature Bank Venture Banking Group, with veteran banking
teams located throughout the country, is led by Ken Fugate, Managing
Group Director. Fugate, a 20-year banking veteran, will oversee
operations of the group, from offices in Denver. Joining him in
leadership roles are Mara Huntington, named Managing Group Director,
National Lending; Ryan Incorvaia, Managing Group Director, Credit; and,
Arthur Wasson, Managing Group Director, Venture Capital Services and
Global Treasury Management. Each member of the Venture Banking Group
joins from Square 1 Bank, a division of Pacific Western Bank, where many
had been working together for more than a decade.

Fugate co-founded Square 1 in 2005, where he spent 14 years. He helped
build that institution’s brand and franchise to position it for an
initial public offering, which occurred just prior to its acquisition by
Pacific Western in 2015. Most recently, Fugate served as Executive Vice
President, responsible for managing the team, primarily in the areas of
technology and life sciences, throughout the central U.S., including the
Midwest, Rocky Mountain and Texas markets. Earlier, he worked at
Comerica Bank and Imperial Bank in their technology and life sciences

Huntington, based in Durham, N.C., will lead the technology and life
sciences banking teams within the Venture Banking Group. With 15 years
of related experience, she formerly was Executive Vice President, where
she oversaw the technology banking team along the East coast and the
national life sciences practice. Prior, she spent five years at GE
Capital in the Life Sciences Venture Group as an underwriter and
portfolio manager for early stage private and public life science

Incorvaia will oversee credit risk management for the new Venture
Banking Group, and will also be based in Denver. Incorvaia brings 20
years of related experience to his new position. For the past nine
years, he served in various credit roles within Square 1, most recently
Senior Vice President and Managing Director, Credit Administration for
the venture banking division. Earlier, he spent 10 years at Silicon
Valley Bank in various roles with the most recent being Deal Team Leader.

Wasson has spent 23 years in the banking industry. As head of Venture
Capital Services and Global Treasury Management for the Venture Banking
Group, based in Durham, Wasson will manage the Group’s efforts in
banking venture capital firms and the delivery of treasury management
products and services. He was Executive Vice President of the Equity
Funds Group and Global Treasury Management at Square 1 in Durham. In
this capacity, he managed the Equity Funds Group (lending to venture
capital firms and private equity funds), Global Treasury Management
(handling all banking-related products) and Square 1 Asset Management (a
registered investment advisor providing commercial cash management
services to the middle market). Over the course of his career, Wasson
held roles of increasing responsibility at Morgan Stanley and Merrill

In addition to the Denver and Durham offices, the Venture Banking Group
will also initially operate from locations in Atlanta, Austin, Chicago,
San Francisco/Silicon Valley and Washington, D.C., with future plans
already underway to expand the team across geographies and industry

“The launch of the new Signature Bank Venture Banking Group is
indicative of our continued abilities to pursue complementary areas of
growth and expansion for the Bank. Technology and life sciences are both
vibrant business sectors within today’s economy and areas we want to
serve. We believe our organic growth model of attracting high-quality
banking teams is the best use of capital, and Ken and his team are the
best-in-class in the venture banking arena. The Signature Bank Venture
Banking Group has experts strategically placed in key geographic markets
throughout the country, and with the establishment of this Group, our
teams are now positioned nationally in these important sectors,”
explained Joseph J. DePaolo, President and Chief Executive Officer at
Signature Bank.

“We welcome Ken and his experienced team of national banking
professionals to Signature Bank and look forward to our success
together,” DePaolo said.

Fugate added: “Signature Bank has an innovative platform where we can
bring our industry expertise, entrepreneurial roots and banking approach
to continue our success within the venture capital domain. Signature
Bank, which similarly began as an entrepreneurial startup nearly 20
years ago, is rapidly growing and identifying ways and areas in which to
apply their proven single-point-of-contact model. We can seamlessly
execute on this philosophy as we have built a team with a proven track
record of consistent growth, based on a relationship-centric model. Our
experience coast to coast allows us to serve the needs of venture
capital firms and their portfolio companies nationwide. Signature Bank
affords our team the opportunity to operate a business within an
established, successful yet entrepreneurial-spirited bank, and we look
forward to thriving in this environment.”

About Signature Bank

Signature Bank, member FDIC, is a New York-based full-service commercial
bank with 31
private client offices
throughout the New York metropolitan area and
Connecticut as well as San Francisco. The Bank’s growing network of
private client banking teams serves the needs of privately owned
businesses, their owners and senior managers.

Signature Bank’s specialty finance subsidiary, Signature Financial, LLC,
provides equipment finance and leasing. Signature Securities Group
Corporation, a wholly owned Bank subsidiary, is a licensed
broker-dealer, investment adviser and member FINRA/SIPC, offering
investment, brokerage, asset management and insurance products and

Signature Bank recently introduced its revolutionary, blockchain-based
digital payments platform, Signet™,
enabling real-time payments for its commercial clients. The Signet
Platform allows the Bank’s commercial clients to make payments in U.S.
dollars, 24/7/365, safely and securely, without transaction fees.
Signature Bank is the first FDIC-insured bank to launch a
blockchain-based digital payments platform, and Signet is the first such
platform to be approved for use by the NYS Department of Financial

Since commencing operations in May 2001, the Bank has grown to $47.36
billion in assets, $36.42 billion in loans, $36.38 billion in deposits,
$4.41 billion in equity capital and $3.78 billion in other assets under
management as of December 31, 2018. Signature Bank’s Tier 1 and
risk-based capital ratios are significantly above the levels required to
be considered well capitalized.

Signature Bank is one of the top 40 largest banks in the U.S.,
based on deposits (S&P Global Market Intelligence). The Bank
recently earned several third-party recognitions, including: appeared on Forbes’
Best Banks in America
list for the ninth consecutive year in 2019;
and, named Best Business Bank, Best Private Bank and Best Attorney
Escrow Services provider by the New
York Law Journal
in the publication’s annual
“Best of” survey for 2018
, earning it a
place in the New York Law Journal’s Hall of Fame (awarded to
companies that have ranked in the “Best of” survey for at least three of
the past four years). The Bank also ranked second nationally in the Best
Business Bank, Best Private Bank and Best Attorney Escrow Services
categories of the National
Law Journal’s
2019 “Best of” survey

For more information, please visit

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 that are subject
to risks and uncertainties. You should not place undue reliance on those
statements because they are subject to numerous risks and uncertainties
relating to our operations and business environment, all of which are
difficult to predict and may be beyond our control. Forward-looking
statements include information concerning our future results, interest
rates and the interest rate environment, loan and deposit growth, loan
performance, operations, new private client teams and other hires, new
office openings and business strategy. These statements often include
words such as “may,” “believe,” “expect,” “anticipate,” “intend,”
“potential,” “opportunity,” “could,” “project,” “seek,” “should,”
“will,” “would,” “plan,” “estimate” or other similar expressions. As you
consider 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 can
change as a result of many possible events or factors, not all of which
are known to us or in 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, any of which can
materially affect origination levels and gain on sale results in our
business, as well as other aspects of our financial performance,
including earnings on interest-bearing assets; (iii) the level of
defaults, losses and prepayments on loans made by us, whether held in
portfolio or sold in the whole loan secondary markets, which can
materially affect charge-off levels and required credit loss reserve
levels; (iv) changes in monetary and fiscal policies of the U.S.
Government, including policies of the U.S. Treasury and the Board of
Governors of the Federal Reserve System; (v) changes in the banking and
other financial services regulatory environment and (vi) competition for
qualified personnel and desirable office locations. Although we believe
that these forward-looking statements are based on reasonable
assumptions, beliefs and expectations, if a change occurs or our
beliefs, assumptions and expectations were incorrect, our business,
financial condition, liquidity or results of operations may vary
materially from those expressed in our forward-looking statements.
Additional risks are described in our quarterly and annual reports filed
with the FDIC.
You should keep in mind that any forward-looking
statements made by Signature Bank speak only as of the date on which
they were made. New risks and uncertainties come up from time to time,
and we cannot predict these events or how they may affect the Bank.
Bank has no duty to, and does not intend to, update or revise the
forward-looking statements after the date on which they are made. In
light of these risks and uncertainties, you should keep in mind that any
forward-looking statement made in this release or elsewhere might not
reflect actual results.


Investor Contact:
Eric R. Howell,
Executive Vice President-Corporate & Business Development


Susan J. Lewis, 646-822-1825,

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