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Shareholder Letter - August 2013

August 27, 2013

Dear Shareholder:

We are pleased to report continued growth and success at Signature Bank. We have made solid progress through the first half of the year as highlighted below:

  • Our loan portfolio has grown to $490.6 million at June 30, 2013 – an increase of $62.3 million or 14.8% over the past twelve months.
  • Loan quality continues to improve with YTD net charge-offs totaling $241,000 compared to $662,000 for the same period last year.
  • Net Income totaled $2.8 million for the first six months of the year – a 6% increase over the same period last year.
  • Austin Associates has valued our stock at $58.00 per share as of June 30, 2013. This is a $2.00 per share increase over the December 31, 2012 valuation.

We are encouraged by our pipeline of new business, and we look forward optimistically to continued growth of our Bank. As always, we appreciate your loyal support.

Best Regards,

Richard J. Brunner          David A. Reed
Chairmain & CEO            President

August 2013 Financial Results

Shareholder Letter - November 2013

November 1, 2013

Dear Shareholder:

We are pleased to report another quarter of solid growth for Signature Bancorp, Inc. Additionally, our Board of Directors recently approved the payment of our second cash dividend. Shareholders of record on November 1st will be receiving a dividend of 40 cents per share, payable on November 15th.

Our financial results are attached and include the following highlights:

  • Our assets surpassed the $600 million level for the first time, reaching $607.6 million.
  • Loan balances have grown $35.3 million year-to-date and now total $502.1 million.
  • Loan charge-offs (net of recoveries) are $193,000 year-to-date as compared to $1 million in net charge-offs for the first nine months of 2012.
  • Net income totaled $4.3 million through nine months – a 4.7% increase over the same period last year.

You should expect to receive your dividend payment on or shortly after November 15th. As always, we appreciate your loyal support.

Best Regards,

Richard J. Brunner          David A. Reed
Chairmain & CEO            President

November 2013 Financial Results

Shareholder Letter - May 2014

May 1, 2014

Dear Shareholder:

Last week, we hosted our Annual Shareholder Meeting at the Toledo Museum of Art Glass Pavilion with over 200 shareholders and guests. We shared the following announcements and our first quarter financial highlights:

  • We announced a 25% increase in the semi-annual cash dividend from $.40 per share to $.50 per share. The dividend payment will be sent on May 15, 2014 to all shareholders of record on May 1, 2014.
  • We welcomed John Gorski to our Board of Directors. John is President and CEO of NAMSA, Inc. headquartered in Northwood, Ohio. John grew up in Perrysburg and currently resides in Bowling Green.
  • Net Income for the first quarter totaled $1,273,000, a $115,000 decline from our first quarter last year due to compression in our net interest margin.
  • Our Loan Portfolio grew by $10 million in the first quarter.
  • Our loan quality remains strong evidenced by $58,000 of loan recoveries and no charge-offs in the first quarter.

We expect 2014 to be a challenging year due to the combination of low interest rates and a slow growing economy. However, we are optimistic about continuing to grow our bank and shareholder value. As always, thank you for your support. We look forward to serving your banking needs.

Best Regards,

Richard J. Brunner          David A. Reed
Chairmain & CEO            President

May 2014 Financial Results

 
 
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4607 W. Sylvania Ave. | Toledo, Ohio 43623 | (419) 841-7773
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