signature bank logo
horizontal line
horizontal line

Shareholder Letter - August 2015

August 27, 2015

Dear Shareholder:

We are pleased to report our year-to-date financial results and updated stock valuation as of June 30, 2015. We have had a strong start in the first half of this year as detailed below:

  • Net income totaled $3,330,000 for the first six months of 2015, which is a 17% increase over our earnings for the first half of 2014.
  • The net income growth reflects better than planned performance for net interest income, non-interest income and operating expenses.
  • Our loan portfolio has grown to $570 million at June 30, 2015 - an increase of $40 million or 7.5% over the past twelve months.
  • Loan quality has remained solid this year. Year-to-date, we have had loan recoveries of $79,000 and no loan charge-offs.
  • Austin Associates has valued our stock at $70.00 per share as of June 30, 2015. This is a $4.00 per share increase from December 31, 2014 value.

We will be challenged to continue performing at this pace through the remainder of the year. We are cautiously optimistic about further growth in assets, earnings and stock value.

Thank you again for your loyal support of Signature Bank!

Best Regards,

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

June 30 2015, Financial Results

Shareholder Letter - November 2015

November 2, 2015

Dear Shareholder:

We are pleased to report the Bank continues to generate growth in earnings, loans, and deposits throughout 2015. Additionally, our Board of Directors recently approved the payment of our semi-annual cash dividend. Shareholders of record on November 1st will receive a dividend of $0.55 per share, payable on November 13, 2015.

Our financial results are attached and include the following highlights:

  • Year-to-date net income of $5.1 million is 15% above the same period last year. We continue to exceed plan for net interest income, non-interest income and operating expenses.
  • Loans have grown by $41.3 million over the past twelve months, and total $577.9 million.
  • Year-to-date, loan recoveries total $352,000, and we have had no loan charge-offs.
  • Deposits have grown $48.4 million over the past year including $40.4 million of growth in non-interest bearing deposits.

We are hopeful of continuing this pace through the remainder of 2015. Thank you for your loyal support of Signature Bank!

Best Regards,

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

September 30 2015, Financial Results

 
 
horizontal line

Online Banking Login | Products & Services | About Us | Contact Us | Protecting Your Identity | Online Privacy

Equal Housing Lender MasterCard Secure Code

4607 W. Sylvania Ave. | Toledo, Ohio 43623 | (419) 841-7773
Lobby M-F: 8:30 a.m. to 5 p.m. | Evenings and Weekends by Appointment