Signature Bank Receives Preliminary Approval for $120 Million of Capital from the U.S. Department of Treasury's Capital Purchase Program

The proceeds will be used to further strengthen Signature Bank's already strong capital position. Signature Bank's total risk-based capital ratio of 16.11 percent as of September 30, 2008 is significantly above the regulatory requirements of 10.0 percent designated to be considered a well-capitalized institution. With this new capital from the U.S. Department of Treasury, Signature Bank's total risk-based capital ratio would increase to more than 19.0 percent.

The anticipated sale of the preferred stock and warrants is expected to close within 30 days and is contingent upon completion of standard closing documents.

Signature Bank also announced it will continue participation in the FDIC Transaction Account Guarantee Program, which provides FDIC insurance coverage for all funds in non-interest bearing deposit accounts through December 31, 2009.

"We are very pleased to receive preliminary approval for $120 million of new capital. Since our 2001 inception, Signature Bank has rapidly emerged as a leading banking entity in the metro-N.Y. area. Despite these challenging times, we continue to report strong financial performance, possess some of the highest capital ratios in the industry, deliver unparalleled personalized, financial service to our clients and grow our private client banking network," said Joseph J. DePaolo, president and chief executive officer at Signature Bank.

"Our capital position was recently strengthened by the September 2008 completion of a $148 million offering and will now be further enhanced by the capital from the U.S. Department of Treasury. We have continually demonstrated our strength in the marketplace, and this additional capital will assist in the future growth of the Bank," DePaolo explained.

About Signature Bank

Signature Bank, member FDIC, is a New York-based full-service commercial bank with 22 private client offices located in the New York metropolitan area, serving the needs of privately owned businesses, their owners and senior managers through dozens of private client groups. The Bank offers a wide variety of business and personal banking products and services as well as investment, brokerage, asset management and insurance products and services through its subsidiary, Signature Securities Group Corporation, a licensed broker-dealer, investment adviser and member NASD/SIPC.

Signature Bank's 22 offices are located throughout the metropolitan New York area. In Manhattan - 261 Madison Avenue; 300 Park Avenue; 71 Broadway; 565 Fifth Avenue; 950 Third Avenue; 200 Park Avenue South and 1020 Madison Avenue. Brooklyn - 26 Court Street; 84 Broadway and 6321 New Utrecht Avenue. Westchester - 1C Quaker Ridge Road, New Rochelle and 360 Hamilton Avenue, White Plains. Long Island - 1225 Franklin Avenue, Garden City; 279 Sunrise Highway, Rockville Centre; 68 South Service Road, Melville; 923 Broadway, Woodmere; 40 Cuttermill Road, Great Neck and 100 Jericho Quadrangle, Jericho. Queens - 36-36 33rd Street, Long Island City and 78-27 37th Avenue, Jackson Heights. Bronx - 421 Hunts Point Avenue, Bronx. Staten Island - 2066 Hylan Blvd.

Since commencing operations in May 2001, the Bank has grown to $6.70 billion in assets, $4.97 billion in deposits, $567.8 million in equity capital and $3.10 billion in other assets under management as of September 30, 2008. Signature Bank's Tier 1 and risk-based capital ratios are significantly above the levels required to be considered well capitalized.

For more information, please visit www.signatureny.com.

This press release and oral statements made from time to time by our representatives contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties. Forward-looking statements include information concerning our future results, interest rates and the interest rate environment, loan and deposit growth, loan performance, operations, new private client team hires, new office openings and business strategy. These statements often include words such as "may," "believe," "expect," "anticipate," "intend," "plan," "estimate" or other similar expressions. As you consider forward-looking statements, you should understand that these statements are not guarantees of performance or results. They involve risks, uncertainties and assumptions that could cause actual results to differ materially from those in the forward-looking statements. These factors include but are not limited to: (i) prevailing economic conditions; (ii) changes in interest rates, loan demand, real estate values, and competition, which can materially affect origination levels and gain on sale results in our business, as well as other aspects of our financial performance; (iii) the level of defaults, losses and prepayments on loans made by us, whether held in portfolio or sold in the whole loan secondary markets, which can materially affect charge-off levels and required credit loss reserve levels; and (iv) competition for qualified personnel and desirable office locations. Additional risks are described in the offering circular relating to the offering and our quarterly and annual reports filed with the FDIC. You should keep in mind that any forward-looking statements made by Signature Bank speak only as of the date on which they were made. New risks and uncertainties come up from time to time, and we cannot predict these events or how they may affect the Bank. Signature Bank has no duty to, and does not intend to, update or revise the forward-looking statements after the date on which they are made. In light of these risks and uncertainties, you should keep in mind that any forward-looking statement made in this release or elsewhere might not reflect actual results.

SOURCE: Signature Bank

Signature Bank Investor Contact: Eric R. Howell, 646-822-1402 Chief Financial Officer ehowell@signatureny.com or Media Contact: Susan J. Lewis, 646-822-1825 slewis@signatureny.com