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Service
Another year. Another milestone.It’s hard to believe we will be celebrating our 15th anniversary in 2017. We opened on April 2, 2002, with an excited staff of 22 people. Just a small group, a startup. But it was a startup with a strong foundation – a foundation of service.
Now, a decade-and-a-half later, it seems the more we stay the same, the more we continue to make a difference – for our shareholders, our clients and our community. It’s amazing such a simple concept has brought together so many people and been the catalyst for so many rewarding experiences, relationships and success stories.
A lot has changed in 15 years, from economic ups and downs to technological advancements that allow banking to adapt to our fast-paced lives. But it all comes back to that one core concept: service. Simply compare Survey comments from our first year of business to our 15th – and all the years in between – and the theme is unquestionably consistent. It’s our foundation of service to our clients that drives our results.
F O R E V E R O U R S I G N A T U R E
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Y E A R S
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This past year, as we’ve accomplished every year since 2002, we were able to grow our assets, our net income and our stock value. Our total assets grew by $66 Million in 2016, reaching $778 Million. Both our loans and deposits increased this past year – our loan portfolio grew by $32 Million, and our deposits grew by $70 Million. Our loan quality remains strong with minimal losses and a limited amount of non-performing loans. With our strong base of non-interest bearing deposits, we are well positioned to fund anticipated loan demand in an improving economy.
Net income grew by 14% compared to last year, totaling $7.9 Million in 2016. Loan growth and prudent management of our overhead expenses were the primary factors for our net income growth. Finally, our balance sheet and net income growth resulted in a 13.7% increase in our share value.
We are pleased to announce the stock value (based on an independent valuation by ProBank Austin, LLC) reached $83 per share – an increase of $10 per share from last year. The price appreciation, combined with the cash dividend of $1.20 per share, yielded a total return on your investment of 15.3% in 2016.
As we prepare to celebrate our 15th anniversary, we would like to recognize the support from our employees, our shareholders and our community. To demonstrate our appreciation and commitment to all of our stakeholders, we have established a Donor Advised Fund at the Toledo Community Foundation. The fund will be a vehicle for financial support of our non-profit community partners for many years into the future.
To our shareholders, our clients, our employees and our entire community, we thank you for providing us the resources and opportunities to build relationships and make a difference in our community. We will always be here to assist you with local, professional insights and a unique personal touch: Service. Forever our Signature.
Richard J. BrunnerCHAIRMAN & CHIEF EXECUTIVE OFFICER
David A. ReedPRESIDENT
F O R E V E R O U R S I G N A T U R E
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519570
599
626
696
2012 2013 2014 2015 2016
T O T A L D E P O S I T S$ in millions
M A R K E T V A L U Eprice per share
2012 2013 2014 2015 2016
$61.00$56.00
$66.00
$73.00
$83.00
N E T I N C O M E$ in thousands
2012 2013 2014 2015 2016
6,154
6,207 6,941
7,900
5,494
T O T A L L O A N S$ in millions
467503
563
618
650
2012 2013 2014 2015 2016
$ in millions
592
646
678712
777
2012 2013 2014 2015 2016
T O T A L A S S E T S
15 years of safe, sound, profitable growth
It’s our foundation of service to our clients that drives our results.
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1 Market Value is determined annually by Austin Associates, LLC., an independent consulting firm experienced in stock valuations of commercial banks and bank holding companies.
$ I N T H O U S A N D S , E X C E P T P E R S H A R E D ATA
2016 2015 2014
R E S U L T S O F O P E R A T I O N S Interest Income $27,630 $25,180 $23,821 Interest Expense $2,373 $2,001 $2,248 Net Interest Income $25,257 $23,179 $21,573 Provision for Loan Losses $360 $365 $275 Non-Interest Income $1,369 $1,304 $1,106 Non-Interest Expense $14,561 $13,652 $13,100 Pre-Tax Income $11,705 $10,466 $9,304 Income Tax Expense $3,805 $3,525 $3,097 Net Income $7,900 $6,941 $6,207
P E R I O D E N D T O T A L STotal Assets $777,646 $712,000 $678,591 Total Loans $650,236 $617,813 $562,629 Allowance for Loan Losses $7,044 $6,748 $5,993 Total Deposits $696,121 $626,409 $599,137 Stockholders’ Equity $79,397 $72,472 $66,552
P E R S H A R E D A T ABasic Earnings $5.79 $5.12 $4.63Fully Diluted Earnings $5.72 $5.06 $4.57Book Value $58.09 $53.36 $49.43 Market Value1 $83.00 $73.00 $66.00
P E R F O R M A N C E R A T I O SReturn on Average Assets 1.03% 1.00% 0.94%Return on Average Equity 10.40% 10.02% 9.73%Net Interest Margin 3.36% 3.39% 3.31%Efficiency Ratio 54.17% 55.78% 57.76%
A S S E T Q U A L I T Y R A T I O SNon-Performing Assets/OREO to Loans 0.03% 0.15% 0.14%Net Charge-Offs to Average Loans 0.01% -0.07% - 0.05%Allowance for Loan Losses to Loans 1.08% 1.09% 1.07%
C A P I T A L R A T I O STotal Risk-Based Capital 12.1% 11.7% 12.7%Tier 1 Risk-Based Capital 11.1% 10.7% 11.6%Tier 1 Leverage Capital 10.0% 10.0% 9.8%
2016
5
F I N A N C I A L S
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. . .O N E C O N S I S T E N T T H E M E
ServiceSignatureyears of
“Your organization’s commitment to service is evident in every
transaction!”
“The people are responsive. To think it all happens from one local office.
Amazing.”
“No matter what we ask for, Signature Bank
finds a way to make it happen – with an enthusiastic ‘I want to do this for you’
attitude!”
“The professionalism & friendliness & abilities of every single bank employee I have come
into contact with makes Signature excel over any other banking institutions.”
“Thank you for the speedy, courteous, efficient service you give to us as your clients. It is OUR pleasure to be
doing business with Signature Bank.”
2007
2005
2004
2003
2006
6
. . .O N E C O N S I S T E N T T H E M E
“We want to deliver the same level of service as Signature.”
“Good products, but most importantly, it’s a caring and hard working staff. Core banking
services are great – keep it simple.”
“Everyone is ALWAYS willing to go the extra mile to make my life easier and everyone
ALWAYS has a smile. So pleasant to deal with your banking staff. And we LOVE our courier.”
“The commitment to service is remarkably consistent. My thanks
to all who make my banking experiences so thoroughly easy,
comfortable and enjoyable.”
“Signature Bank has been the friendliest and most responsive bank we have ever worked
with. The bank has gone above and beyond to support the work of our nonprofit agency and make our services affordable to those in need.”
“Above and beyond. The best bank I’ve ever worked with. Simple
process. Great people.”
“I couldn’t have asked for anything more. When I realized I had not initiated my direct deposits for payroll, I didn’t know
what to do. Signature Bank streamlined a 3-day transaction into a matter of hours to ensure my 300 employees would be paid on time. You told us that ‘service is your signature’ and this
experience definitely made me a believer.”
“Terrific attention to detail and excellent customer service. It is refreshing to be doing business with a
true community bank.”
“Quality service, quality people! Always nice to speak with an actual person instead of an automated service.”
2016
20152014
2013
20122011
2010
20092008
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Barbara A. Berebitsky Senior Vice President
Richard J. BrunnerChairman & CEO
Scott S. Michalak Executive Vice President
Susan E. MorganSenior Vice President
David A. ReedPresident
Carol A. SavageExecutive Vice President
Robert D. ShamySenior Vice President
John S. SzuchExecutive Officer
David L. BishopPresident & CEO;Matrix Technologies, Inc.
Richard J. BrunnerChairman & CEO;Signature Bancorp, Inc.
Bruce M. DenmanPresident;Maumee Machine & Tool Corporation
Michael J. FischerFounder;Fischer Tool & Die Corporation
John J. Gorski President and CEO;NAMSA
Kathryn S. HoopsVice President, Controller andDirector of Tax;HCR ManorCare
Matthew B. KripkePresident;Kripke Enterprises, Inc.
Gus J. MancyPartner;Mancy’s Restaurant Group
Scott S. MichalakExecutive Vice President; Signature Bancorp, Inc.
David A. ReedPresident;Signature Bancorp, Inc.
Carol A. SavageExecutive Vice President;Signature Bancorp, Inc.
C. Michael SmithChairman;The Mannik & Smith Group, Inc.
R. Jeffery Stephens, DDSPeriodontist
John S. SzuchExecutive Officer;Signature Bancorp, Inc.
We will always be here to assist our clients with local, professional insights and a unique personal touch.
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Board of Directors
Management Team
John H. AchingerCourier Driver
Kimberly M. AchingerLending Coordinator
Julie A. AlbringDeposit Operations/ Call Center Manager
Esther A. AmelingLoan Documentation Specialist
Melissa K. AndersonPortfolio Administrator
Andrew BabulaCourier Driver
Louise M. BaumgartnerLockbox/Asst. Transaction Coordinator
Lisa M. BeiningBank Secrecy Act Officer
Melissa A. BellOfficer – Client Development
Donald L. BinghamCourier Driver
Kimberly M. BirtLockbox/Transaction Coordinator
Bruce R. BischoffCourier Driver
Emily N. BurkertCard Services Coordinator
Brian M. CarderCourier Driver
Gretchen M. CarterHuman Resources Assistant
Beth L. CharvatAssistant Vice President – Client Development
Beverly D. CollinsLockbox/Proof Coordinator
Kevin P. CoulterVice President – Information Technology
William T. CulbertsonVice President – Client Development
Jacob K. DiegelAssistant Transaction Coordinator
Christina A. DiolettiElectronic Banking Coordinator
Kenneth L. DubendorferCourier Driver
Sara L. DuncanElectronic Banking Coordinator
Eugene T. EnglishCredit Analyst
Nancy L. FeltzVice President – Credit Administration
Amy L. FleckAdministrative Office Manager
Chad T. FrankCredit Analyst
Krystal A. Freyre-MartinezAssistant Transaction Coordinator
Lauren A. FrickLockbox/Proof Coordinator
Alison K. FryeVice President – Client Development
Andrea M. GibbonsVice President – Client Development
Shane A. GibsonController
Jeremy T. GryczaVice President – Information Technology
ServiceF O R E V E R O U R S I G N A T U R E
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Our Team
LaVonna A. HicksTransaction Coordinator
Jami M. HillACH/Wire Transfer Coordinator
Alex W. HinzCourier Manager
Susan K. HughesLoan Documentation Specialist
Dorothea A. HunyorAccounting Associate
Roy W. HutcheisonOfficer – Client Development
Craig A. JablonskiAssistant Vice President – Electronic Banking Manager
Chad L. JacobsAssistant Loan Operations Manager
Sudesh K. JindalTransaction Coordinator
Katie R. JohnsonACH/Wire Transfer Coordinator
Judy S. KameleskyTelephone Receptionist
Joseph P. KarchCourier Driver
Carol A. KimballLoan Operations Manager
Jessica N. KochTransaction Coordinator
James D. KolasinskiACH/Wire Transfer Coordinator
M. JoAnn KowalewskiLoan Operations Clerk
Emily M. KrewsonLockbox/Proof Coordinator
Kimberlee R. LarbergVice President – Client Development
Jenny M. LatendresseOfficer – Client Development
Nathan J. LattaTechnical Support Coordinator
Shannon M. LeamonCard Services Coordinator
Steven D. LeamyVice President – Client Development
Debora A. LeslieLockbox/Transaction Coordinator
Kathi L. LykeExecutive Administrator
Julie A. MajchrowskiElectronic Banking Coordinator
Kenneth W. MasonCourier Driver
William C. McNealPortfolio Manager
Carl R. MillerCourier Driver
Daniel H. MillerCredit Analyst
Melanie K. MooreCard Services Coordinator
Michelle L. MorawskiCard Services Coordinator
Chase L. NelsonCredit Analyst
Diana L. NewlandLockbox Coordinator
Richard W. NewlandCourier Driver
Richard L. NewtonTechnical Support Coordinator
Thomas J. PalmerCourier Driver
Frederick W. PeaseCourier Driver
Dan W. PennywittCourier Driver
Kristin M. PersianiDeposit Services Coordinator
Stephanie K. PetersenClient Service Representative
Pamela D. PiddockTelephone Receptionist
Clinton D. ReinboltCredit Analyst
Shanaz C. RomstadtItem Processing Officer
Ronald C. RoushCourier Driver
Lori B. Schoch-MannOfficer – Human Resources
Joshua J. SchuylerVice President – Client Development
Robert E. SearfossCourier Driver
Kimberly A. ShafferVice President – Credit Administration
Barbara A. ShounConcierge/Receptionist
Tiffany J. SmithSenior Transaction Coordinator
Archie D. StammSenior Vice President – Chief Compliance Officer
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ServiceF O R E V E R
O U R S I G N A T U R E
1 5 Y E A R S
Julie M. StrickDeposit Administrator
Jason C. SturdavantElectronic Banking Coordinator
Daniel W. SwansonSystems Operator
Jonathan W. TerryOfficer – Credit Administration
Charles J. ThomasCourier Driver
Kristen B. ThomassonTransaction Coordinator
Ryan J. ThompsonVice President – Client Development
Nicole L. TuckDeposit Services Manager
James TuckerDeposit Services Coordinator
Amanda J. ValasekLockbox/Transaction Coordinator
James D. Vischer Courier Driver
Gary P. WaltersCourier Driver
Nicole A. WaltersTelephone Receptionist
John M. WarrenCourier Driver
David E. WeaverCourier Driver
Christopher A. WelencOperations Coordinator
Andrew S. WenlandClient Development Representative
Tonia M. WhiteLockbox Coordinator
Jessica L. WillingerAdministrative Assistant
Amanda K. WilsonDeposit Services Coordinator
Brandon M. Wilson Assistant Manager – Electronic Banking
Shelly A. WoodAdministrative Assistant
Michael W. WrayCourier Driver
Amanda E. YoungAssistant Manager – Card Services
Diane C. YounkerBank Secrecy Act Analyst
Janet M. ZoltanskiLockbox/Proof Coordinator
Cinda J. ZuccarellVice President – Operations
“Signature has been a great partner for our growing company. We have nothing but compliments for the entire staff!!”
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