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Signature Bancorporation raises $9 milllion in funding

Posted on: Wed, 14 Oct 2009 15:04:00 EDT

Symbols: SBNY

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Oct 14, 2009 (Datamonitor Financial Deals Tracker via COMTEX) --
SBNY | Quote | Chart | News | PowerRating -- Signature Bancorporation, Inc., a subsidiary of Signature Bank, has raised $9 million in a capital increase. Signature Bank is a US-based provider of commercial banking services.

As part of the transaction, board members of Signature have invested $2 million in the company, while the remaining $7 million was provided by the company's shareholders.

Deal Value (US$ Million) 9
Deal Type                Private Placement
Sub-Category             None
Deal Status              Completed: 2009-10-13

Deal Participants

Target (Company)     Signature Bancorporation, Inc.
Acquirer 1 (Company) Signature Bancorporation, Inc. - Board Members
Acquirer 2 (Company) Signature Bancorporation, Inc. - Shareholders

Deal Rationale

The transaction will enable Signature Bancorporation to continue lending to small to mid-sized businesses.

For full details on Signature Bank (SBNY) SBNY. Signature Bank (SBNY) has Short Term PowerRatings at TradingMarkets. Details on Signature Bank (SBNY) Short Term PowerRatings is available at This Link.

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