Notice Regarding Signature Bank
On Sunday, March 12, 2023, the New York State Department of Financial Services (DFS)took possession of Signature Bank. Signature Bank had 40 branches across the country in New York, California, Connecticut, North Carolina, and Nevada. All depositors of the institution will be made whole.
DFS named the Federal Deposit Insurance Corp. (FDIC) as Receiver, and the FDIC then transferred all of the deposits of Signature Bank to a new bridge bank called Signature Bridge Bank, N.A. A bridge bank is a full-service national bank that is operated by the FDIC. The bridge bank is created to “bridge” the gap between the failure of a bank and the time the FDIC needs to stabilize it and market it to potential bidders.
The transfer of all Signature Bank deposits to Signature Bridge Bank, N.A. was completed, and full-service banking activities, including online banking, were resumed at Signature Bridge Bank, N.A.(www.signatureny.com) on Monday, March 13, 2023.
If You Had a Deposit Account…
Your routing number and account number will remain the same until you are notified in writing by Signature Bridge Bank.
In the meantime,
- Your ATM/debit card and your personal checks will continue to work as usual.
- Direct deposits you set up will continue to appear in your account as usual.
- Any automatic payments and “bill pay” services you have set up will continue to work as usual.
If You Had a Loan…
Borrowers also automatically became customers of Signature Bridge Bank, N.A.
- If you are a borrower, you should continue to make your payments as usual.
- If you had a loan in process, contact your current loan officer directly.
- If you are looking for a lien release, visit the FDIC FDIC websiteto learn more about obtaining a lien release.
If You Are a Creditor…
If you are owed money for a service or product provided to Signature Bank, you may be eligible to file a claim against the FDIC as Receiver.
- If you have not been paid for services rendered prior to March 12, 2023, visit the FDIC website to learn more about filing a claim.
Beware of Scams
Please beware of phishing scams to obtain information from you. Neither DFS or the FDIC will not send unsolicited email notifications to claim/unlock/suspend your account. The FDIC will encourage you to correspond with them via their Claims Portal. Visit the FDIC website to learn more.
Questions
- If you have questions about the closing of Signature Bank, you can read some Frequently Asked Questionsand learn more on the FDIC website.
- If you have questions about banking or managing your loan, contact the Signature Bridge Bank at (866) 744-5463 or visit www.signatureny.com.
- If you are a customer who has a Signature Bank deposit account through a broker, contact your broker directly with questions.
