NEW YORK--(EON: Enhanced Online News)--Signature Bank (Nasdaq: SBNY), a New York-based full-service commercial bank, announced today the appointment of several new private client banking professionals, who joined existing banking teams.
Pasquale (Pat) Loporcaro was named Group Director and Vice President at the Bank’s Staten Island (Hylan Blvd.) private client banking office. He assumes this role from Theresa Marks, who will be retiring at the end of this year, after serving as Group Director and Senior Vice President for eight years. In this role, he will help to grow the portfolio of the business managed by this four-person team.
Loporcaro is the former Vice President and Branch Manager for TD Bank on Page Avenue in Staten Island, a position he held for several years, during which time he handled business development, managed client relationships and oversaw office operations. Earlier in his career, Loporcaro was a commodities trader and president of Pasco Trading Corp., a commodities brokerage firm specializing in sugar futures.
Richard V. Imprescia, who was named Associate Group Director and Vice President, joined Tom Kasulka’s team, based in midtown Manhattan. Kasulka has been a Group Director and Senior Vice President at the Bank since 2004.
In his new role, Imprescia will be responsible for business development across commercial clients in the areas of manufacturing, construction, food and beverage and public and private finance. Imprescia brings nearly 20 years of finance experience to his position. Most recently, he spent 13 years at New York City-based Anchin Block & Anchin, LLP, an accounting and advisory services firm catering to privately held businesses and providing private client wealth services. During this time, he served in a range of executive positions, primarily focused on identifying new business opportunities.
Earlier, Imprescia served on the New York State Department of Economic Development for The Empire State Development Corp. (ESDC), a public benefit corporation leading New York State’s economic development efforts. He was appointed Deputy Executive Director by then New York State Governor George E. Pataki.
Michael Benenfeld, who was also named Associate Group Director and Vice President, joined Meyer Eichler’s private client banking team in Borough Park, Brooklyn, N.Y. Eichler has led the now seven-person team since 2010. Benenfeld had served as Branch Manager and Vice President at Apple Bank for Savings in Brooklyn for 19 years. In this capacity, Benenfeld managed a portfolio of clients and oversaw branch operations. Over the years, he became recognized as one of the local community’s most notable banking professionals. Earlier, he was a Senior Account Officer at Bank Leumi in Borough Park.
“The appointment of these talented professionals is indicative of the many market opportunities that remain prevalent in the financial services landscape across metro-NY. We continue to seize these opportunities as we expand our network, whether it is by appointing veteran professionals to existing teams or attracting new teams. These appointments are reflective of the type of continued entrepreneurial culture and spirit of our Bank. We welcome Pat, Richard and Michael to our growing franchise and look forward to their contributions in the key markets we serve,” explained Joseph J. DePaolo, President and Chief Executive Officer at Signature Bank.
About Signature Bank
Signature Bank, member FDIC, 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 offers a wide variety of business and personal banking products and services. Its specialty finance subsidiary, Signature Financial, LLC, provides equipment finance and leasing. Signature Securities Group Corporation, 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.
Since commencing operations in May 2001, the Bank has grown to $37.79 billion in assets, $31.40 billion in deposits, $3.56 billion in equity capital and $4.59 billion in other assets under management as of September 30, 2016. Signature Bank's Tier 1 and risk-based capital ratios are significantly above the levels required to be considered well capitalized.
Signature Bank ranked sixth best on Forbes' Best and Worst Banks in America 2016 list and was recently named Best Business Bank for the third consecutive year by the New York Law Journal in the publication’s seventh annual reader survey. The Bank also ranked second in the Best Private Bank and Best Attorney Escrow Services categories in the listing.
For more information, please visit www.signatureny.com.
This press release and oral statements made from time to time by our representatives contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties. You should not place undue reliance on those statements because they are subject to numerous risks and uncertainties relating to our operations and business environment, all of which are difficult to predict and may be beyond our control. Forward-looking statements include information concerning our future results, interest rates and the interest rate environment, loan and deposit growth, loan performance, operations, new private client teams and other hires, new office openings and business strategy. These statements often include words such as "may," "believe," "expect," "anticipate," "intend," “potential,” “opportunity,” “could,” “project,” “seek,” “should,” “will,” would,” "plan," "estimate" or other similar expressions. As you consider forward-looking statements, you should understand that these statements are not guarantees of performance or results. They involve risks, uncertainties and assumptions that could cause actual results to differ materially from those in the forward-looking statements and can change as a result of many possible events or factors, not all of which are known to us or in our control. These factors include but are not limited to: (i) prevailing economic conditions; (ii) changes in interest rates, loan demand, real estate values and competition, any of which can materially affect origination levels and gain on sale results in our business, as well as other aspects of our financial performance, including earnings on interest-bearing assets; (iii) the level of defaults, losses and prepayments on loans made by us, whether held in portfolio or sold in the whole loan secondary markets, which can materially affect charge-off levels and required credit loss reserve levels; (iv) changes in monetary and fiscal policies of the U.S. Government, including policies of the U.S. Treasury and the Board of Governors of the Federal Reserve System; (v) changes in the banking and other financial services regulatory environment and (vi) competition for qualified personnel and desirable office locations. Although we believe that these forward-looking statements are based on reasonable assumptions, beliefs and expectations, if a change occurs or our beliefs, assumptions and expectations were incorrect, our business, financial condition, liquidity or results of operations may vary materially from those expressed in our forward-looking statements. Additional risks are described in our quarterly and annual reports filed with the FDIC. You should keep in mind that any forward-looking statements made by Signature Bank speak only as of the date on which they were made. New risks and uncertainties come up from time to time, and we cannot predict these events or how they may affect the Bank. Signature Bank has no duty to, and does not intend to, update or revise the forward-looking statements after the date on which they are made. In light of these risks and uncertainties, you should keep in mind that any forward-looking statement made in this release or elsewhere might not reflect actual results.