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Choosing a bank for your mid-size business? Think local

Your company is typically one of your most valuable assets, and having a close relationship with your bank is critical when it comes to making important financial decisions and driving growth.

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Banking Solutions for Attorneys: What to Prioritize in a Financial Relationship

While it’s a given that a career as an attorney demands expertise in the practice of law, the business side of the legal industry also requires a high level of savviness and should not be overlooked or viewed as secondary. The stakes are high when large sums of money are flowing in and out of a firm, with client fees and settlements coming in, and legal team payroll, case expenses, and firm overhead payments going out. It’s crucial for legal firms to have a trusted banking partner – one that knows the legal industry and its nuances and regulations – to guide and manage cash flow, particularly if they are a litigation law firm working with large settlements. 

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What to Look for In A Commercial Banking Partner

As a business owner you are faced with numerous decisions each day that impact your bottom line, your employees and your clients. Whether you are just starting out, or you have an established mid-sized business, one of the most important choices you will make is the selection of a commercial banking partner that will help your business grow and mature. As you evaluate your options, think about what you value in a banking relationship. Are you seeking a true partner who can help guide your financial path? Is location important? What kinds of banking services are a priority for your business?

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Five ways to help protect your business from check fraud

Check fraud continues to pose a significant threat to businesses of all sizes, and bad actors are getting more creative and aggressive. From check washing to email scams, these criminals have numerous tools to alter checks and it is imperative to have strategies in place to provide maximum protection.

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Business Fraud Protection – Banking Best Practices

If your business has not yet been a victim of fraud, there is a high probability it will. According to the 2023 AFP Payments Fraud and Control Survey Report, 65% of organizations experienced payment fraud attacks/attempts in 2022. This holds true for all companies regardless of size or type, from large corporations with deep pockets to the smallest, least-prepared nonprofits.

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Crain’s List Largest Banks

Signature Bank ranked #15 on Crain’s Chicago Business List of Largest Banks.  Signature Bank continues to focus exclusively on providing the best financial solutions with a relationship-based approach.

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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.

Signature Bank Illinois: “On solid financial footing and ready to expand”

On the same weekend that ABC News incorrectly featured a logo of Signature Bank Illinois on a story about Signature Bank New York, the former reported “record returns and earnings” in 2022. 

Signature Ranks #15 on Crain’s List of Largest Banks

Crain’s released the 2022 List of Largest Banks with Signature Bank at #15 and #1 for return on average equity.

Beyond rewards—the real value of your corporate credit card

A business credit card is a powerful cash management tool that can help businesses minimize borrowing costs, protect their finances, and manage expenses more efficiently.

Signature Ranks #20 on Crain’s List of Largest Banks

Crain’s released the 2021 List of Largest Banks with Signature Bank at #20 and #1 for return on average equity.

Business Recovery Will Require Resilience, Relationships

Business recovery will require resilience and relationships, according to Signature Bank President and CEO Mick O’Rourke. Read his latest contribution to the Daily Herald Business Ledger.

Signature Ranks #22 on Crain’s List of Largest Banks

Crain’s released the 2020 List of Largest Banks with Signature Bank at #22 and #1 for return on average equity.

Signature Bank Finances J.A. Air Center, a Top-Ranked Fixed Base Operator at Aurora Municipal Airport

Disrupting B2B Payments in 2020

Signature Bank SVP of Treasury Management predicts that 2020 will be the year of disruption in B2B payments.

Community Banks Lead the Way in PPP Lending

Read Signature Bank Co-Founder Kevin Bastuga’s latest article in the Daily Herald Business Ledger to find out why it’s more important than ever to know your banker.

Signature Bank Co-founder Bryan Duncan offers insight into what you can do as a business owner to navigate your way through the COVID-19 crisis.

Duncan offers ideas on funding, relief and resources for small businesses during COVID-19.