March 13, 2023
As you are aware, the FDIC recently enforced two bank closures. To strengthen public confidence in the U.S. banking system, the FDIC took the additional step of covering all of the uninsured depositors at those banks. One of those closures occurred yesterday with a bank that has a name similar to ours – Signature Bank New York. We want to assure our clients, prospects, and partners that Signature Bank Chicago is not affiliated with this bank in any way and that Signature Bank Chicago is well capitalized and positioned for success, coming off of a record year in 2022.