![]() ![]() Until it was shuttered, it had been a go-to bank for the crypto industry. The freefall began this month until trading was halted on March 10 with the stock sitting at $70. After hitting a high of $365 in early 2022, the bank’s stock plunged to less than one-third that value by late February of this year. “We see growth on the horizon,” DePaolo said.Įven as he made the prediction, the bank’s stock was falling amid crypto struggles and a broader stock market slump. In a January earnings release, Joseph DePaolo, then Signature’s CEO, said the bank planned to expand geographically. Barney Frank, a Massachusetts Democrat who was a co-author of the landmark 2010 legislation that overhauled regulation of the financial industry. Alfonse D’Amato, a New York Republican, and Rep. Over the years, two former members of Congress also served on it: Sen. She wasn’t the only high-profile member of the board. Trump’s daughter, Ivanka, who also became a key Trump administration adviser, was on the bank’s board of directors from 2011-13, before her father’s run for president. Clients included former President Donald Trump and the family of his son-in-law and former White House adviser, Jared Kushner. bank to fail, after Washington Mutual’s collapse in 2008 and Silicon Valley Bank’s demise last week.įounded in 2001, it was a major lender to New York City apartment building owners. By the same measure, it was also the third largest U.S. It became one of the 20 largest banks in the country that way, based on deposits. Signature catered to privately held businesses and their owners and executives. Don't miss this week: Jack Harlow on screen, Kesha, Anna Nicole Smith doc and Scott brothers on HGTV ![]()
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