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The designer, reality television star and daughter of Donald Trump will not seek re-election to Signature's board, due to her "highly demanding schedule."
April 10 -
As the New York company books more loans, it is also relying less on mortgage-backed securities.
February 11
Signature Bank (SBNY) posted higher quarterly profit after adding more loans and deposits.
Earnings at the $18.3 billion-asset company in New York rose 19% from a year earlier, to $50.6 million, or $1.06 a share.
Net interest income rose 17% from a year earlier, to $148.1 million. The net interest margin compressed 7 basis points from the first quarter of 2012, to 3.43%.
Signature's loan portfolio grew 41% from a year earlier, to $10.4 billion; deposits increased 18%, to $14.8 billion.
Noninterest income fell 3.3% from a year earlier, to $8.8 million. Noninterest expense rose 17% from the first quarter of 2012, to $58.9 million.
The loan-loss provision fell 8% from a year earlier, to $9.9 million, while chargeoffs fell 10%, to $4.5 million.
