Signature Bank received approval from both the New York State Department of Financial Services (NYSDFS) and the Federal Deposit Insurance Corporation (FDIC) to commence operations in California.

The bank opened an official accommodation office in early 2018 as it began preparations to introduce its proven single-point-of-contact banking model on the West Coast.

“What started with an accommodation office is quickly developing into a full-service private client banking office. We will now have a comprehensive banking presence and capabilities in the heart of downtown San Francisco. With the approvals from the NYSDFS and the FDIC, we will focus on swiftly appointing veteran banking teams and expanding our West Coast network in the same manner as we did across the metro-New York area,” said Signature Bank President and Chief Executive Officer Joseph J. DePaolo.

“There is significant talent on the West Coast, and our established single-point-of-contact approach has already been very well received since the bank launched its presence in San Francisco. We look forward to expanding our footprint in California and bringing privately owned businesses the same level of client commitment, care and service for which this bank has become known,” DePaolo added.

Signature Bank is a New York-based full-service commercial bank with 30 private client offices throughout the New York metropolitan area, including those in Manhattan, Brooklyn, Westchester, Long Island, Queens, the Bronx, Staten Island and Connecticut. The bank’s growing network of private client banking teams serves the needs of privately owned businesses, their owners and senior managers.

Signature Bank’s specialty finance subsidiary, Signature Financial provides equipment finance and leasing. Signature Securities Group, a wholly owned Bank subsidiary, is a licensed broker-dealer, investment adviser and member FINRA/SIPC, offering investment, brokerage, asset management and insurance products and services.

Signature Bank, with more than $44 billion in assets, is ranked the 40th largest bank in the U.S. from nearly 6,000, based on deposits.