Chicago-based commercial bank attributes growth to high-touch service, digital innovation, and strategic expansion 

Rosemont, IL (August 13, 2025) – Signature Bank, one of the fastest growing, independently-owned commercial banks in the Midwest, today announced it has once again secured a position on the 2025 Inc. 5000 list of America’s fastest-growing private companies. This marks the fifth year of recognition, underscoring the bank’s sustained growth and steadfast commitment to client-focused, relationship-driven banking. 

“Earning a place on the Inc. 5000 list for the fifth year in a row is a tremendous honor and a reflection of our team’s relentless dedication,” said Mick O’Rourke, President and CEO of Signature Bank. “Our growth stems from building trusted client partnerships and delivering the personalized service of a community bank with the capabilities of a larger institution—as demonstrated by our recent rise to number 12 on the Crain’s Chicago Business list of Largest Banks in Chicago.”

The Inc. 5000 list recognizes companies that have achieved significant revenue growth while navigating economic challenges. Signature Bank’s continued expansion has been driven by: 

Client-Centered Innovation

• Commercial banking expertise: Tailored solutions for privately held businesses across the Midwest
• Digital innovation: Cutting-edge platforms that enhance client convenience and efficiency
• Client loyalty: Long-term relationships and high retention driving consistent growth

Leadership & Expansion

• Entrepreneurial leadership: A founder-led executive team with firsthand business-building experience
• Culture of excellence: Recognized as a top workplace, attracting and retaining high-performing talent
• Strategic market expansion: Entering new verticals and regional markets aligned with the bank’s strengths

“Making the Inc. 5000 is always a remarkable achievement, but earning a spot this year speaks volumes about a company’s tenacity and clarity of vision,” says Mike Hofman, editor-in-chief of Inc. “These businesses have thrived amid rising costs, shifting global dynamics, and constant change. They didn’t just weather the storm—they grew through it, and their stories are a powerful reminder that the entrepreneurial spirit is the engine of the U.S. economy.” 

About Signature Bank 

Signature Bank is an award-winning, relationship-based commercial bank wholly owned by Signature Bancorporation, Inc., a privately funded, locally owned bank holding company founded in 2006. Headquartered in Rosemont, IL, Signature Bank provides accessible, strategic, and highly individualized commercial banking services to closely held companies, as well as full-service retail banking capabilities. Technology-driven and well-capitalized, Signature Bank is currently the fastest growing, independently owned business bank in the Chicago-Wisconsin markets and is one of American Banker’s Best Banks to Work For. Visit Signature Bank online at http://www.signaturebank.bank.

About Inc.

Inc. is the leading media brand and playbook for the entrepreneurs and business leaders shaping our future. Through its journalism, Inc. aims to inform, educate, and elevate the profile of its community: the risk-takers, the innovators, and the ultra-driven go-getters who are creating the future of business. Inc. is published by Mansueto Ventures LLC, along with fellow leading business publication Fast Company. For more information, visit www.inc.com

The U.S. Treasury is ending paper checks — here’s what you need to know

Starting September 30, 2025, the U.S. Treasury will officially stop issuing paper checks for federal payments, including vendor disbursements, tax refunds and benefit payments. This move is part of a broader effort to reduce fraud, increase efficiency and support the ongoing digital transformation of financial services.

Read this ABA announcement for more information.

Paper checks have long been considered slow, costly and vulnerable to fraud. With this federal shift, now is the time for businesses to explore smarter, more secure payment options. At Signature Bank, we’re helping clients make the transition with confidence.

Why the transition away from checks matters

Paper checks introduce delays, require manual processing and are increasingly targeted in fraud schemes. According to AFP’s 2025 survey, 63% of organizations reported check fraud in 2024— making it the most commonly targeted payment method. The U.S. Treasury’s decision to phase them out is a clear signal: digital payments are no longer optional — they’re the new standard.

Signature Bank offers trusted alternatives

Signature Bank partners with small and medium-sized businesses to provide modern, secure payment solutions that help you keep pace with today’s financial environment. From ACH payments to advanced automation tools, we’re here to support your transition from checks with efficiency and expertise.

• ACH transfers are a reliable, low-cost way to pay vendors, process payroll and remit taxes. They offer a secure and timely alternative to paper checks, with better tracking and fewer delays.

• Finrails® AP automates your accounts payable process, reducing human error and saving valuable time. Eliminate paper checks, improve visibility and enhance control over your business payments. Is your business ready for automation?

• Our Signature Bank Visa® Corporate Card Program offers powerful solutions for managing expenses at any scale. Whether you’re a small business looking for flexibility or a larger organization needing more robust controls, we’ve got you covered.
  • Business Cards provide everyday convenience with expense tracking tools, spending limits and built-in fraud protection — ideal for businesses handling variable costs or recurring payments.
  • Corporate Cards are tailored for larger companies with multiple employees, offering advanced reporting, centralized billing and customizable user controls to streamline expense management and improve oversight.

Learn more strategies to protect your business from fraud. 

Talk with a payments expert

We understand that switching payment methods can raise questions. That’s why our team of Signature Bank payment specialists is here to help. Whether you’re looking to streamline operations, reduce risk or modernize your AP process, we’ll help you identify the best solution for your business. 

By Steven M. Vernon III, Senior Vice President, Group Head, Commercial Real Estate for the Daily Herald

It happens more often than you’d think:

• A business owner sells their company—but retains the building.
• An entrepreneur has a liquidity event and starts looking to diversify.
• An operator retires from one business, only to find themselves exploring commercial real estate investment in their next chapter.

Suddenly, you’re a real estate investor.

But you’re not an expert. Not really. You’ve built your wealth doing something else—and now you’re stepping into a space that’s capital-intensive, deadline-driven and full of nuance.

So what now?

This is a common story in Chicagoland commercial real estate, where a strong network of privately held and family-owned businesses has long been a backbone of the economy. As these business owners exit or evolve, real estate becomes a natural next move. But it’s a move with real financial implications.

A different kind of investor

These first-time real estate investors share many similarities with professional real estate firms and developers. They often come in with strong financial fundamentals, a deep understanding of operations and a healthy appetite for risk—but they may lack familiarity with the nuanced rhythms and structures of the real estate world. Terms like “bridge-to-perm,” “retrade” or “bad boy carve-out” can feel like a new language.

And unlike institutional investors, these individuals tend to make deeply personal decisions. They might be buying a building to house a second-generation business, repurposing a site in a neighborhood they know well or adding stable income to a retirement strategy. Real estate isn’t a product—it’s part of their next identity.

What’s needed—and what’s often missing

For these newly minted real estate investors, access to capital is only part of the equation. More often, what they need most is guidance:

• How should the deal be structured?
• What’s the right debt-to-equity mix?
• What timelines are realistic?
• What are the risk signals they need to look for?

Many of these investors are used to moving fast in industries they know inside and out. Stepping into real estate means adjusting to different processes, new stakeholder groups, and often, a whole new sense of what “risk” means in a transaction.

The geography shift

It’s not just the profile of investors that’s shifting, it’s the geography of investment, too. In Illinois, rising property taxes and local economic uncertainty have led many Chicagoland-based investors to pursue opportunities in other markets. These investors bring their expertise to those local markets. But as unknown entities without a local track record, this can create difficulty when seeking capital from local institutions.

Many end up looking for lenders who know them personally, even if they don’t know the target market. In these cases, trust is the constant—and market knowledge becomes a variable that can be quickly learned.

Real estate as second act

For many business owners, stepping into real estate isn’t about maximizing internal rate of return (IRR) or building a portfolio. It’s about applying the same instincts that made them successful in business: finding value, managing risk and making bold but informed decisions.

In that way, real estate often becomes a natural next step—not just a financial investment, but a practical extension of the skills that built a successful business in the first place. And with the right support and perspective, it can become a profitable part of the next chapter.

Every investor is unique – and so is every real estate opportunity. Connect with Signature Bank to find the right strategy for your next move.

Steven M. Vernon III leads the Commercial Real Estate Practice at Signature Bank. With over two decades of experience in commercial real estate banking, he brings deep expertise in structuring complex transactions and delivering tailored financing strategies across a broad range of asset classes. Contact Steven at svernon@signaturebank.bank.

In a recent conversation on Chicago’s AM 560, Kevin Bastuga, Signature Bank Co-Founder and Executive Vice President, offered candid insights into the current business environment in the Chicago area. As a leader working closely with local entrepreneurs and mid-sized companies, Kevin has a front-row seat to both the headwinds and the opportunities shaping today’s economy.

Lingering uncertainty in a post-tariff, post-pandemic market

Kevin noted that while many business owners have stepped off the sidelines and begun to make larger investment decisions in recent years, uncertainty still lingers—especially around trade policies and the long-term impact of tariffs. These pressures continue to affect manufacturing businesses that rely on imported goods.

“There’s still some trepidation about making decisions related to production and key inputs and the price of those inputs,” he explained. “We’re hoping that resolves in the next 60 to 90 days so people can get back to worrying about what they should be worrying about.”

Labor shortages: A rolling concern for industrial clients

When asked about the top challenges facing clients today, Kevin zeroed in on the labor market. Many of Signature Bank’s clients operate in industrial parks around Chicago, where “Help Wanted” signs are commonplace.

“There are real opportunities out there for people who want to pursue a trade,” he said. “It’s a dignified and important way to contribute to the economy, but it’s clear that many companies are struggling to fill those roles.”

He also pointed to the broader concern among business owners regarding the local and state policy environment—citing taxation, regulation, and political rhetoric as ongoing friction points.

Serving those who can’t just pick up and move

Unlike massive corporations that can relocate to other states with relative ease, Kevin emphasized that smaller, locally rooted businesses don’t have that luxury.

“The $12 million metal finishing company in Addison? They’re fighting to stay competitive. They can’t just pack up and leave,” he said. “They’re battling on wages, benefits and hiring just to maintain momentum.”

And yet, despite these headwinds, Signature Bank sees the Midwest—and Chicago in particular—as a uniquely strong environment for business growth.

Geographic advantage: Why Chicago still works

From Kevin’s perspective, the fundamentals are still strong. Chicago’s industrial base is bolstered by critical infrastructure: two major airports, major interstate arteries, extensive rail access, and a concentration of logistics operations that continues to grow.

“We’ve even seen international manufacturers—like a European company—begin to move operations to Chicago to avoid tariff-related costs,” he added. “That’s a direct result of our geographic advantages and our ability to support onshoring.”

Moreover, the city benefits from reliable utilities, fresh water access, and a rich tradition of manufacturing and small business entrepreneurship.

A precarious but productive moment

In Kevin’s words, “There are a lot of headwinds out there.” But even in the face of policy frustrations and labor market challenges, businesses are adapting. Some are thriving.

And at Signature Bank, that adaptability is a guiding principle.

“We pride ourselves on speed of delivery, certainty of execution, and decision-making that happens locally. That’s what today’s business owners need—and it’s what we’re built to provide.”

By Shaun Pesce, Retirement Plan Specialist, Signature Bank for Milwaukee Business Journal

When business owners think about 401(k) plans, they often view them as an employee perk—one of those benefits you consider once your company reaches a certain size or maturity. But what many don’t realize is that a 401(k) can be just as advantageous for the owner as it is for their team. It’s more than a recruitment incentive; it’s a strategic tool for building personal wealth, optimizing taxes, and strengthening the business for the long term.

Too often, retirement plans are treated as a line item or a checked box rather than what they truly are: a foundational element of financial leadership. Whether you’re a sole proprietor or leading a growing team, the right 401(k) strategy can benefit both your people and your own future.

The business owner’s blind spot: Misconceptions and missed opportunities

It’s understandable why many small and midsized business owners hesitate to start a 401(k). Concerns about administrative complexity, fiduciary responsibility, and cost often deter action. Others assume they need to be a certain size or revenue level before it’s worth it.

But these assumptions often come at a cost. By postponing a retirement plan, owners miss out on personal tax advantages, wealth-building opportunities, and employee goodwill. Contrary to popular belief, even solo business owners can start a 401(k), and many costs can be offset by tax deductions. Today’s retirement plan providers—especially when partnered with a knowledgeable bank—make setup and ongoing management far more approachable than in years past.

A strategic tool for growth and retention

Beyond its financial mechanics, a 401(k) is a powerful strategic tool for any business. In today’s competitive labor market, employees expect more than just a paycheck—they’re actively looking for benefits that support long-term financial security. According to AARP, the U.S. is facing a retirement readiness crisis: one in five Americans has no retirement savings, and nearly half worry they won’t have enough to last through retirement. Retirement benefits are no longer viewed as a “nice to have,” but as one of the easiest and most effective ways to build long-term wealth—making them a critical factor for job seekers evaluating their next move.

For small businesses, this creates a real opportunity. Offering a 401(k) signals stability and a long-term commitment to employee well-being. Meaningful outcomes are more important than just the means to save for retirement. Companies can stand out in industries where wage competition alone may not be enough. This is especially true in skilled labor markets, family-run companies, or businesses relying on multigenerational workforces.

Additionally, 401(k) plans are highly customizable. Employers can structure matching contributions, profit-sharing elements, and vesting schedules to align with company goals—whether that’s improving retention, rewarding tenure, or encouraging long-term thinking.

Personal wealth building for owners

One of the most overlooked aspects of a 401(k) plan is how it benefits the owner directly. With proper plan design, business owners can contribute meaningfully to their own retirement—starting with salary deferrals up to the annual IRS limit and extending to employer contributions that can significantly boost total savings.

Certain plan types are especially favorable for owner participation. Safe Harbor plans eliminate many of the compliance testing hurdles and allow for higher contributions. Solo 401(k)s are ideal for businesses with no employees other than a spouse. Independent law firms, Certified Public Accountants (CPAs), or gig economy professionals can set these up through streamlined processes. Mature businesses might even consider pairing a 401(k) with a cash balance plan to maximize retirement contributions when cash flow is strong.

From a tax planning standpoint, the advantages are substantial. Contributions reduce taxable income, investment gains grow tax-deferred, and plan-related expenses are often deductible business costs. In short, a 401(k) is a practical and powerful financial planning tool—not just a benefit offering.

Getting started isn’t as hard as you think

For many owners, the first step is the hardest. The good news? You don’t have to do it alone.

Setting up a 401(k) plan typically involves a few key steps: assessing your business’s needs, choosing a provider, designing the plan, and communicating it to your team. While fiduciary responsibilities exist, they’re manageable—especially with an experienced partner at your side. Modern plan providers, often in collaboration with banks, wealth advisors, and current payroll providers, can handle the heavy lifting: compliance, filings, participant education, and more.

Choosing the right banking partner: What to look for

The success of your 401(k) program depends largely on the partner you choose. Here are a few qualities to prioritize:

• Retirement plan expertise – Look for a partner with dedicated specialists who understand not just accounts, but full plan design, long-term strategy, and how to explain provisions in simple terms to employees to help them maximize their benefits.
• Customization – Can they tailor the plan to fit your specific goals, business size, employee mix, and growth trajectory?
• Hands-on service – Will they provide proactive guidance beyond initial setup?
• Compliance support – How do they help you navigate fiduciary duties, annual testing, and IRS filings?
• Technology + education – Strong partners provide user-friendly tools for plan management and accessible resources for employees.

Choosing the right bank or financial advisor can streamline the process, reduce administrative burden, and ensure your plan evolves alongside your business.

Conclusion: Leading with the long game in mind

Ultimately, a 401(k) is not just about retirement—it’s about leadership, stewardship, and long-term value. It’s a move that signals confidence in your business’s future and a commitment to your team and yourself.

The sooner business owners take the first step, the greater the impact. Whether you’re just starting out or preparing for succession, a well-structured 401(k) can be a cornerstone of your strategy. And with the right banking partner, it’s easier than you think.

Every business is different—and so is every retirement plan. Connect with Signature Bank to find the right fit for your company and your future.

Shaun Pesce is a retirement services expert at Signature Bank. He advises clients on strategies pertaining to investments, asset allocation, 401(k), 403(b), 457, Non- qualified, Cash Balance, Defined Benefit, and retirement income. Contact Shaun at spesce@signaturebank.bank.

Signature Bank will never ask for your password!

Urgent: Beware of ongoing bank robocalling scam

The latest bank robocalling scam involves scammers impersonating bank fraud departments, bank investigators or bank security departments. These scammers will try to trick you into telling them your personal data so they can hack into your account.

The Federal Trade Commission data for 2024 states consumers reported losing more than $12.5 billion to fraud. Imposter scams were the most commonly reported, accounting for $2.95 billion in losses.

This is a real threat – it’s critical that you know how to protect yourself.

How to spot a bank phone call scam

• The scammer claims to be calling from Signature Bank and the caller ID may look like it’s coming from Signature Bank. Scammers can spoof phone numbers to look like official bank numbers!
• The scammer claims fraud on your account. It’s likely that the scammer will claim there was suspicious activity on your account or unauthorized access to your online banking account. In addition, the scammer may even manufacture a fraudulent “pending charge” to make the scam seem legitimate.
• Fraudsters know that many people will act quickly if they receive a call claiming there’s an issue with their bank account.
• The scammer asks for your personal information and password. The scammer will use their fabricated fraud claims to ask you for your online banking sign-in credentials. They might ask you for your password or security questions and answers. This is a red flag and should alert you it’s a scam.
• The scammer uses your information to take control of your account. It’s important that you never tell anyone your online or mobile banking sign-in information. Scammers can use this information to hack into your account and reset your sign-in credentials.

What to do next

• Monitor your account activity daily. It is a good idea to monitor your bank accounts on a regular basis, and even more frequently if you receive a suspicious call like this. 
• Hang up and call us directly. If you receive a suspicious or unexpected call from someone claiming to be with the bank, hang up immediately and call Signature Bank directly at 773-467-5600 as soon as you can.

We will never ask you for your password!

Know that if a Signature Bank representative calls you, we will never ask for your password. If you call the bank directly, our representatives may ask you questions necessary to verify your identity. This is to ensure that we are talking directly to our customers and not an imposter.

By Signature Bank for Milwaukee Business Journal

Benz Metal Products, Inc. understands a thing or two about seizing opportunities to build new relationships. The 53-year-old Menomonee Falls company sparked one of its most meaningful partnerships while standing on the sidelines at a children’s football game.

Back in 1972, Anthonie van der Kooy bought Benz Metal after selling his own metal fabrication facility. Now, Benz Metal is run by Anthonie’s three grandsons, Jake, Joe and Jason. The more than 50-person strong company specializes in fabrication, machining, cutting, welding and finishing of metal products for the food-processing, bottling, printing, machine-building and material-handling industries.

Benz Metal CEO Jake van der Kooy recently talked with Signature Bank’s Brad Kranich about how Benz Metal has evolved its business over three generations and what it looks for in its partners.

How does Benz Metal differentiate itself from others in the metal fabrication industry?

One of our big differentiators is our wide array of equipment and services allowing us to be a complete in-house supply chain, making us a one-stop shop for our customers’ metal fabrication needs. We also can do short-run and long-run production. Everything’s done under one roof with us, so it reduces customers’ supply chain reach. The combination of these differentiators always keeps us quite competitive.

How does Benz Metal approach its partnerships with vendors?

We’re always looking for strategic vendor relationships that allow us to change as our business ebbs and flows, and ones that will work on a custom policy for us. It’ll often start out transactional, and if the transaction works, you delve deeper into the partnership.

How has Benz Metal evolved its business over time to meet technology and customer demands?

As the customers’ needs change, we change with them. We’ve made a commitment to grow with them. The technology shifts, too, are based on customer and workplace demands. That’s where you see a lot of equipment and software upgrades. Artificial intelligence also has come into play on some tasks, which helps us get more throughput with the same headcount — whether for quoting projects or even programming machines.

After 50-plus years in business, Benz must have a solid sales team. What is Benz’s sales approach?

We’ve built our business without a dedicated sales team, relying instead on referrals. We take the approach of “sell the relationship, negotiate the order” mentality. So, the customer owns the relationship, not the salesperson — that’s our motto.

With some businesses you might feel like, “I’m just a transaction.” Once a salesperson got their sale, I might never hear from them again. Our customers get to know our whole staff. Everyone on our team plays a role in the sales process in our customer relationships.

The recent nationwide shifts in the banking landscape have left some businesses and consumers wary. What has your relationship with banks been like throughout your 53-year history?

Prior to Signature Bank, Benz Metal had only changed banks twice in our history. We didn’t step into the decision to switch to Signature Bank lightly. We wanted to be sure we made the right choice for our business needs. Once we’ve established a trusted relationship, like we’ve done with Signature Bank, we don’t change that relationship if everyone’s doing their part.

What was Benz Metal looking for in a new bank?

Dealing with a bank can often feel purely transactional. Some banks talk about partnership, but at the end of the day, it’s usually just about the numbers.

We initially chose Wisconsin’s Signature Bank in 2023 to finance our facility expansion and new equipment purchases. We had outgrown our community bank, and we were drawn to Signature Bank’s industry expertise and relationship-based approach.

Signature Bank was the first to go beyond the figures — to truly see our story and invest in it. Of course, the numbers still had to make sense, but they also considered the bigger picture and different perspectives.

How did Benz Metal first get introduced to Signature Bank?

I first connected with Signature Bank through one of their bankers — our kids played on the same football team, and we started talking casually. Later, we ran into each other at a networking group, realized the connection, and continued our conversations. That friendship came first, which is one of the things I truly value about the bank. The professional relationship with Signature Bank came a couple of years later.

What has stood out to you about Signature Bank?

A game-changer for me was how stress-free it has been to work with Signature Bank. Sure, there are reports and numbers to go over, but so much of it is handled through real conversations rather than endless emails and text messages. There was no back-and-forth overload, just a straightforward, get-it-done approach. That efficiency has allowed me to focus on the business without unnecessary stress, which has been incredibly valuable.

Signature Bank also gives us complete control over our financial decisions, allowing us to invest in our business without unnecessary hurdles. With other banks, even a simple equipment purchase can feel like a dissertation. Signature Bank, though, trusts that we know what we need to grow. Their approach — investing in the family — is incredibly innovative.

Achieve your business vision with personalized commercial banking. Contact Brad Kranich at 414-539-5694 or bkranich@signaturebank.bank.

Bradley Kranich is senior vice president, division head – Commercial Banking for the Wisconsin Market for Signature Bank. Kranich brings 20+ years of experience in commercial banking and privately held industrial businesses. He is a graduate of the University of Wisconsin, Graduate School of Banking.

Founded in 2006, Signature Bank is a privately held state-chartered bank in Illinois and Wisconsin. As a relationship-based commercial bank, we provide unmatched customer service while operating our business carefully and conservatively. Technology-driven and well-capitalized, Signature Bank is one of the fastest-growing independently owned business banks in the Midwest and has been named on American Banker’s list of “Best Banks to Work For” for seven consecutive years. Reach out to info@signaturebank.bank to learn more.