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To Our Valued Clients,
At the beginning of 2012 we set a number of key initiatives for Signature Bank. Below are results of the most important initiatives.
Initiative |
Goal |
6/30/12 Results |
| Total Risk Based Capital |
12.50% |
13.33% |
| Reduced OREO (Other Real Estate Owned) |
$4,154,000 |
$3,580,205 |
| Net Operating Profits |
$1,047,000 |
$1,104,050 |
| Loan Loss Reserve Percentage |
2.30% |
2.37% |
| Total Reserve(s) for Potential Loan Losses |
$3,656,000 |
$3,892,972 |
As of the end of June 2012 the Bank is performing ahead of budget. Our year-to-date pre-tax return on equity as of 6/30/12 was 11.48%. Our primary focus in 2012 is to generate new client relationships and continue to operate the Bank in a safe and sound manner. As a result of the strong financial performance that Signature Bank has achieved in 2010, 2011 and year-to-date 2012, we have made a decision to hire additional seasoned professionals to help us attract additional client relationships.
Your business and referrals continue to be very important to us. As you are discussing items of a financial nature with your friends, advisors, and colleagues, please consider referring any and all business opportunities to us. We have a strong capital level, good liquidity, and a desire to grow Signature Bank in 2012 and beyond.
Sincerely,
Kenneth D. Brooks
President
“Exceptional Banking for Business and Professionals”
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