Signature Bank Completes Public Offering Of 2.1M Shares

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NEW ROCHELLE, N.Y. -- Signature Bank last week raised its capital by $257.2 million by completing a public offering of 2.1 million shares of common stock, reports Westchester County Business Journal.

Signature Bank has branches in New Rochelle and White Plains. The offering was underwritten by J.P. Morgan.

“The proceeds of this offering will help fuel Signature Bank’s future growth as we look to further build out our expanding banking network,” Signature Bank President and CEO Joseph J. DePaolo said in a statement.

J.P. Morgan has an option to purchase shares at the offering price of $123.25 per share until July 10.

Signature Bank has 27 branches in the New York metropolitan area and offers business and personal banking.

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