Signature Bank Mortgage Rates, Fees & Info
New York, NYLEI: VLP5AP0XK2GM6GKD1007
Tax ID: 13-4149421
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Mortgage Data
Bank Data
Review & Overview
Signature Bank is a small bank specializing in Refi and Home Purchase loans. Signature Bank has a high proportion of conventional loans. Their top two markets are New York and Los Angeles .Signature Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. They typically have about average rates.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 15 Year Conventional Purchase | 5.68% | 3/25/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
298Origination Dollar Volume (All Markets)
$2,590,040,000Employee count
1,880Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 297 | $2,585,535,000 | $8,705,505 | $0 | 3.29% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $4,505,000 | $4,505,000 | $0 | 3.50% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 298 | $2,590,040,000 | $8,691,409 | $0 | 3.30% |
For 2021, Signature Bank's most frequently originated type of loan was Conventional, with 298 originations.
Loan Reason
For 2021, Signature Bank's most frequently cited loan purpose was Refi, with 204 originations. The 2nd most popular reason was Home Purchase, with 78 originations.
Loan Duration/Length
For 2021, Signature Bank's most frequently cited loan duration was 10 Year, with 176 originations. The 2nd most popular length was Other, with 64 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 243 | $1,892,905,000 | $7,789,733 |
| 2.5-3% | 24 | $234,660,000 | $9,777,500 |
| <2.5% | 22 | $434,030,000 | $19,728,636 |
| 4-5% | 9 | $28,445,000 | $3,160,556 |
During 2021, Signature Bank's average interest rate for loans was 3.25%, while their most frequently originated rate bucket for loans was 3-4%, with 243 originations.
Loan Sizing
2021 saw Signature Bank place emphasis on $1MM+ loans with 276 originations, totaling $2,575,540,000 in origination value.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 298 | $2,590,040,000 | $8,691,409 | $0 | 3.30% |
Approval Rates
Total approvals of all applications100.00%
Signature Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination99.66%
Signature Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 298 | $2,590,040,000 | $8,691,409 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 298 | $2,590,040,000 | $8,691,409 |
LTV Distribution
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Signature Bank | 1-C Quaker Ridge Road New Rochelle, NY 10804 | Full Service B&M | $1,438,551 |
| Signature Bank | 100 Bayview Circle, Suite 3400 Newport Beach, CA 92660 | Full Service B&M | $106,502 |
| Signature Bank | 100 Jericho Quadrangle Jericho, NY 11753 | Full Service B&M | $954,148 |
| Signature Bank | 1020 Madison Avenue New York, NY 10021 | Full Service B&M | $1,632,829 |
| Signature Bank | 110 Corcoran Street Durham, NC 27701 | Full Service B&M | $1,825,890 |
| Signature Bank | 111 Broadway, Suite 903 New York, NY 10006 | Full Service B&M | $1,308,861 |
| Signature Bank | 118-35 Queens Blvd. Forest Hills, NY 11375 | Full Service B&M | $496,030 |
| Signature Bank | 121 West Trade Street, Suite 1150 Charlotte, NC 28202 | Full Service B&M | $0 |
| Signature Bank | 1400 Broadway, 26th Floor New York, NY 10018 | Full Service B&M | $22,793,753 |
| Signature Bank | 1688 Victory Blvd Ste 301 Staten Island, NY 10314 | Full Service B&M | $543,619 |
| Signature Bank | 200 Park Avenue South New York, NY 10003 | Full Service B&M | $1,549,431 |
| Signature Bank | 201 Mission Street, Suite 2600 San Francisco, CA 94105 | Full Service B&M | $8,338,337 |
| Signature Bank | 2066 Hylan Blvd. Staten Island, NY 10306 | Full Service B&M | $373,257 |
| Signature Bank | 21255 Burbank Blvd., Suite 320 Woodland Hills, CA 91367 | Full Service B&M | $65,988 |
| Signature Bank | 26 Court Street And Remson Street Brooklyn, NY 11242 | Full Service B&M | $1,744,134 |
| Signature Bank | 261 Madison Avenue New York, NY 10017 | Full Service B&M | $9,969,794 |
| Signature Bank | 3257 E. Guasti Road, Suite 230 Ontario, CA 91761 | Full Service B&M | $29,155 |
| Signature Bank | 36-36 33rd Street Long Island City, NY 11106 | Full Service B&M | $244,268 |
| Signature Bank | 360 Hamilton Avenue, Reckson Metro Center White Plains, NY 10601 | Full Service B&M | $1,336,696 |
| Signature Bank | 360 Motor Parkway Hauppauge, NY 11788 | Full Service B&M | $1,150,196 |
| Signature Bank | 40 Cuttermill Road Great Neck, NY 11021 | Full Service B&M | $826,907 |
| Signature Bank | 421 Hunts Point Avenue Bronx, NY 10474 | Full Service B&M | $210,088 |
| Signature Bank | 485 Madison Avenue New York, NY 10022 | Full Service B&M | $2,205,555 |
| Signature Bank | 50 West 57th Street New York, NY 10019 | Full Service B&M | $3,380,642 |
| Signature Bank | 53 North Park Avenue Rockville Centre, NY 11570 | Full Service B&M | $946,327 |
| Signature Bank | 565 Fifth Avenue New York, NY 10017 | Full Service B&M | $9,527,209 |
| Signature Bank | 6321 New Urecht Avenue Brooklyn, NY 11219 | Full Service B&M | $1,975,436 |
| Signature Bank | 68 South Service Road Melville, NY 11747 | Full Service B&M | $2,212,365 |
| Signature Bank | 75 Holly Hill Lane Greenwich, CT 6830 | Full Service B&M | $1,451,597 |
| Signature Bank | 78-37 37th Street Jackson Heights, NY 11372 | Full Service B&M | $656,068 |
| Signature Bank | 84 Broadway Brooklyn, NY 11211 | Full Service B&M | $1,093,796 |
| Signature Bank | 89-36 Sutphin Blvd. Jamaica, NY 11435 | Full Service B&M | $452,457 |
| Signature Bank | 900 Stewart Avenue Garden City, NY 11530 | Full Service B&M | $1,403,291 |
| Signature Bank | 9003 Third Avenue Brooklyn, NY 11209 | Full Service B&M | $759,419 |
| Signature Bank | 923 Broadway Woodmere, NY 11598 | Full Service B&M | $1,254,195 |
| Signature Bank | 950 Third Avenue New York, NY 10022 | Full Service B&M | $1,286,000 |
| Signature Bank | 9665 Wilshire Boulevard, Suite 250 Beverly Hills, CA 90212 | Full Service B&M | $28,704 |
| Signature Bank | 97 - 101 Broadway Brooklyn, NY 11211 | Full Service B&M | $0 |
For 2021, Signature Bank had 38 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $2,191,342 |
| Net interest income | $1,881,440 |
| Total noninterest income | $108,076 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $9,603 |
| Trading account gains and fees | $11,044 |
| Additional Noninterest Income | $87,429 |
| Pre-tax net operating income | $1,235,780 |
| Securities gains (or losses, -) | $11,994 |
| Income before extraordinary items | $918,441 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $918,441 |
| Minority interest net income | $0 |
| Net income | $918,441 |
| Sale, conversion, retirement of capital stock, net | $1,412,878 |
| Net operating income | $908,965 |
Signature Bank's gross interest income from loans was $2,191,342,000.
Signature Bank's net interest income from loans was $1,881,440,000.
Signature Bank's fee based income from loans was $9,603,000.
Signature Bank's net income from loans was $918,441,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $309,902 |
| Provision for credit losses | $50,042 |
| Total noninterest expense | $703,694 |
| Salaries and employee benefits | $457,456 |
| Premises and equipment expense | $72,776 |
| Additional noninterest expense | $173,462 |
| Applicable income taxes | $329,333 |
| Net charge-offs | $84,172 |
| Cash dividends | $168,174 |
Signature Bank's interest expense for loans was $309,902,000.
Signature Bank's payroll and benefits expense were $457,456,000.
Signature Bank's property, plant and equipment expenses $72,776,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 0.0% |
| Real Estate loans | 0.0% |
| Construction & Land Development loans | 0.0% |
| Nonfarm, nonresidential loans | 1.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 1.0% |
| HELOC loans | 5.0% |
| All other family | 0.0% |
| Commercial & industrial loans | 0.0% |
| Personal loans | 0.0% |
| Credit card loans | 0.0% |
| Other individual loans | 0.0% |
| Auto loans | 0.0% |
| Other consumer loans | 0.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $106,153,818 |
| Deposits held in domestic offices | $106,153,818 |
| Deposits by Individuals, partnerships, and corporations | $104,935,167 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $1,215,852 |
| Deposits by Commercial banks and other depository institutions in U.S. | $2,799 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $16,828,065 |
| Demand deposits | $16,391,744 |
| Nontransaction accounts | $89,325,753 |
| Money market deposit accounts (MMDAs) | $36,537,666 |
| Other savings deposits (excluding MMDAs) | $51,244,973 |
| Total time deposits | $1,543,114 |
| Total time and savings deposits | $89,762,074 |
| Noninterest-bearing deposits | $44,434,242 |
| Interest-bearing deposits | $61,719,575 |
| Retail deposits | $104,737,265 |
| IRAs and Keogh plan accounts | $81 |
| Brokered deposits | $1,244,979 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $118,445,427 |
| Cash & Balances due from depository institutions | $29,817,539 |
| Interest-bearing balances | $29,665,464 |
| Total securities | $21,918,467 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $64,775,173 |
| Loan and leases loss allowance | $474,389 |
| Trading account assets | $72,363 |
| Bank premises and fixed assets | $298,261 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $60 |
| All other assets | $1,563,564 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $118,445,427 |
| Total Liabilities | $110,604,809 |
| Total deposits | $106,153,818 |
| Interest-bearing deposits | $61,719,575 |
| Deposits held in domestic offices | $106,153,818 |
| % insured (estimated) | $8 |
| Federal funds purchased and repurchase agreements | $150,000 |
| Trading liabilities | $0 |
| Other borrowed funds | $2,639,245 |
| Subordinated debt | $570,228 |
| All other liabilities | $1,091,518 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $64,775,173 |
| Loan and leases loss allowance | $474,389 |
| Total loans and leases (domestic) | $65,249,562 |
| All real estate loans | $30,268,148 |
| Real estate loans in domestic offices | $30,268,148 |
| Construction and development loans | $1,619,949 |
| Residential 1-4 family construction | $9,612 |
| Other construction, all land development and other land | $1,610,337 |
| Loans secured by nonfarm nonresidential properties | $12,056,835 |
| Nonfarm nonresidential secured by owner-occupied properties | $1,438,537 |
| Commercial real estate & other non-farm, non-residential | $10,618,298 |
| Multifamily residential real estate | $16,070,996 |
| 1-4 family residential loans | $520,368 |
| Farmland loans | $0 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $32,829,436 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $235,124 |
| Credit card loans | $0 |
| Related Plans | $160,608 |
| Consumer Auto Loans | $0 |
| Other loans to individuals | $74,516 |
| All other loans & leases | $2,091,666 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $193,208 |
| Loans to depository institutions and acceptances of other banks | $0 |
| Loans not secured by real estate | $61,119 |
| Loans secured by real estate to non-U.S. addressees | $4,633 |
| Restructured Loans & leases | $320,560 |
| Non 1-4 family restructured loans & leases | $320,560 |
| Total loans and leases (foreign) | $0 |
Signature Bank had $64,775,173,000 of loans outstanding in 2021. $30,268,148,000 of loans were in real estate loans. $1,619,949,000 of loans were in development loans. $16,070,996,000 of loans were in multifamily mortgage loans. $520,368,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $0 of loans were in the auto loan category.
Small Business Loans
| Categorization | # of Loans in Category | $ amount of loans (in 000's) | Average $/loan |
|---|---|---|---|
| Nonfarm, nonresidential loans - <$1MM | 367 | $201,966 | $550,316 |
| Nonfarm, nonresidential loans - <$100k | 3 | $117 | $39,000 |
| Nonfarm, nonresidential loans - $100-250k | 20 | $3,175 | $158,750 |
| Nonfarm, nonresidential loans - $250k-1MM | 344 | $198,674 | $577,541 |
| Commercial & Industrial, US addressed loans - <$1MM | 17,040 | $2,444,040 | $143,430 |
| Commercial & Industrial, US addressed loans - <$100k | 7,109 | $248,377 | $34,938 |
| Commercial & Industrial, US addressed loans - $100-250k | 4,783 | $557,649 | $116,590 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 5,148 | $1,638,014 | $318,185 |