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Signature Bank 5.00% Non-cumulative Perpetual Series A Preferred Stock
Ticker Symbol: SBNYL     CUSIP: 82669G203     Exchange: OTOTC
Security Type:   Traditional Preferred Stock

Security's Distribution is Suspended!

QUANTUMONLINE.COM SECURITY DESCRIPTION:  Signature Bank 5.00% Depositary Shares each representing a 1/40 interest in a share of the Non-cumulative Perpetual Series A Preferred Stock , liquidation preference $25 per Depositary share, redeemable at the issuer's option on or after 12/15/2025 at $25 per Depositary share plus declared and unpaid dividends, and with no stated maturity.

Non-cumulative distributions of 5.00% per annum ($1.25 per annum or $0.3125 per quarter) will be paid quarterly on 3/30, 6/30, 9/30 & 12/30 to holders of record on the record date fixed by the board, not more than 60 days or less than 10 days prior to the payment date (NOTE: the ex-dividend date is one business day prior to the record date). The dividends are non-cumulative and if the board of directors does not declare a dividend or the company fails to pay a dividend declared by the board for any quarterly dividend period, the holder will not be entitled to receive any dividend for that quarterly period and the undeclared or unpaid dividend will not accumulate. Dividends paid by this preferred security are eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) and are also eligible for the dividends received deduction for corporate holders (see page 68 of the prospectus for further information).

This security is possibly subject to an early call as a result of the occurrence of a regulatory capital treatment event which no longer allows the company to include the funds originating from this security as Tier 1 capital on their balance sheet (see the prospectus for further information).

This security was rated as Ba1 by Moody’s and Not Rated by S&P at the date of its IPO. In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.

Stock
Exchange
Cpn Rate
Ann Amt
LiqPref
CallPrice
Call Date
Matur Date
Moodys/S&P
Dated
Distribution Dates 15%
Tax Rate
OTOTCn
OTOTCps
5.00%
$1.25
$25.00
$25.00
12/15/2025
None
WR NF
4/16/2023
Suspended!
3/30, 6/30, 9/30 & 12/30
Click for MW ExDiv Date
Click for Yahoo ExDiv Date
YES

Go to Parent Company's Record (SBNY)

Notes:  This bank is subject to the information reporting requirements of the Securities Exchange Act of 1934, as amended (the Exchange Act), as administered and enforced by the Federal Deposit Insurance Corporation and is subject to FDIC rules promulgated thereunder. Consequently, they file annual, quarterly and current reports, proxy statements and other information with the FDIC, copies of which are made available to the public over the Internet at https://efr.fdic.gov/fcxweb/efr/index.html under FDIC #57053.

IPO - 12/10/2020 - 28.00 Million Shares @ $25/share.
Previous Ticker Symbol: SBNYP    Changed: 3/12/2023
Market Value $ Million

Click for current SBNYL price quote from the PINK SHEETS
Click for current SBNYL price quote from the NASDAQ

Company's Online Information Links
HOME PAGE:     https://www.signatureny.com/
Company's Investor Relations Information Go to Investor Relations Information
Company's Online News Releases Go to News Releases
Online Company Profile Go to Online Profile

Company's Online SEC EDGAR Filings
Company's SEC EDGAR Filings None Found

Company's Email Address Links
Email Address bwyremski@signatureny.com
Email Contact Form on Website Go to Email Form

Address and Phone Numbers
Address:   565 Fifth Avenue, New York, NY 10017
Main Phone Number 646-822-1479
Fax Number Not Available
Investor Contact (Exec. VP)   Brian Wyremski 646-822-1479
CEO - Joseph J. DePaolo CFO - Stephen Wyremski Stephen Wyremski


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