Insight & News

Signature Bank Statement

Rosemont, Illinois-based Signature Bank Chicago was founded in 2006 and is a privately owned commercial bank serving clients throughout the Midwest. Recent events within the banking industry have led to weakened financial positions and the failure of some banks. One of those closures occurred recently with a bank that has a name similar to ours – “Signature Bank New York”. Signature Bank Chicago is not affiliated with this bank in any way. Signature Bank Chicago is well-capitalized and positioned for success, coming off a record year in 2022. The most recent press release on our financial performance can be found at the link here.

There is much to look forward to as we enter our 18th year of serving our clients. As the dust settles on this current financial controversy, just know that Signature Bank Chicago continues our careful and deliberate approach to running our own business so that we can better serve yours! If economic conditions worsen and you have any concerns at all about Signature Bank Chicago or the health of the U.S. banking system, please call any one of our founders directly:

Mick O’Rourke: 773-575-4913
Bryan Duncan: 847-736-1117
Kevin Bastuga: 773-255-7834

Other ‘Signature’ and ‘Republic’ Banks Tackle Marketing Crisis

All banks and credit unions have struggled with public perceptions recently. But for a handful of institutions with ‘Signature’ or ‘Republic’ in their names, the failure of New York’s Signature Bank and the troubles at California’s First Republic Bank created some unique challenges.

Signature Bank in New York went under on Sunday. Other lenders also named Signature Bank are scrambling to let customers know they’re still open for business.

Lenders with names similar to two recently collapsed US banks are scrambling to reassure customers that they are not related to their failed financial institution namesakes.

Huey: “The unholy trinity of wealth destruction”

Two separate national news networks’ use of Signature Bank Illinois’ logo on stories featuring the woes of Signature Bank New York reflects the “unholy trinity of wealth destruction,” said Florida-based wealth advisor Patrick Huey. 

Did you hear Signature Bank collapsed? But not that one. Or that one.

Signature Bank would like its clients to know it is doing fine. And so would Signature Bank.