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Shareholder Letter - May 2013

May 1, 2013

Dear Shareholder:

We are pleased to report continued growth and success at Signature Bancorp, Inc. Additionally, we are excited to announce we will begin paying a semi-annual cash dividend. The first dividend payment of 40 cents per share will be paid on May 15 to shareholders of record as of May 1.

We expect 2013 to present some challenges due to the combination of low interest rates and a slow growing economy. However, we are optimistic that we can continue to grow and build the value of our company.

Our financial results are attached and include the following highlights:

  • Our net income totaled $1,386,000, which is a 2.1% increase over the first quarter last year.
  • Our loan balances grew $13.8 million during the first quarter and now total $480.2 million.
  • Net loan charge-offs were $27,226 for the first quarter.
  • Our net interest margin was 3.62% this quarter compared to 3.69% for the first quarter last year.

We thank you for your loyal support in building our Bank. If you have any questions about our dividend program or banking needs, please call us.

Best Regards,

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

May 2013 Financial Results

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

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