CHICAGO - October 14, 2009 - Signature Bancorporation, Inc. today announced that it has completed a $9 million private offering that ended on September 30, 2009. Signature Bank initiated the capital raise to support the growing banking needs of its small to mid-sized business customer base and to provide the capital necessary to support the bank's anticipated growth.
"Our steady track record of prudent growth and our ability to fund loans for small and mid-sized businesses despite the turbulent banking climate created a tremendous opportunity for Signature Bank," stated Mick O'Rourke, president of Signature Bank. "We see the current banking environment as a moment for us to seize market share and become the bank that fills a void left by large banking institutions."
Existing shareholders and a limited number of new shareholders purchased the additional shares. The offering is Signature Bank's first capital raise since its initial record-setting raise of $23.8 million, the largest privately funded de novo bank capital raise in Illinois.
According to data obtained from SNL Financial, Signature Bank is the only Illinois bank with assets less than $1 billion to have raised non-TARP equity in 2009. Based on SNL Financial's data, Signature Bank's $9 million capital raise ranks sixth largest in the U.S. for 2009 for banks under $1 billion in assets.
Signature Bank, a privately owned bank with more than $200 million in assets, is headquartered at 6400 N. Northwest Highway, Chicago, IL 60631 and can be reached at 773-467-5600 or through http://www.signature-bank.com.
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Signature Bank is wholly owned by Signature Bancorporation, Inc. Signature Bancorporation, founded in 2006, is one of the largest privately funded de novo bank holding companies ever established in Illinois. Based in Chicago, Signature Bank specializes in middle-market commercial banking and is a full-service retail bank offering a full breadth of financial product lines to consumers. Signature Bank offers a unique balance of relationship-driven service with leading-edge technology to provide customers with the personalization they expect from a community bank and the technology capabilities they demand from a national bank. Visit Signature Bank online at www.signature-bank.com. Member FDIC. |
