Announcement • Jul 31
FDIC Reportedly Launches Sale of $18.5 Billion of Signature Bank Loans The U.S. Federal Deposit Insurance Corporation (FDIC) set in motion the sale of an $18.5 billion loan portfolio from Signature Bank (OTCPK:SBNY) this week, a set of loans linked to major private equity and investing firms, according to the regulator's website. The portfolio comprises 201 performing capital-call loans tied to Starwood Capital Group, Carlyle Group (CG.O), Blackstone (BX.N), Thoma Bravo and Brookfield Asset Management (BAM.TO), Bloomberg News reported on July 28, 2023, citing a person familiar with the matter. The FDIC hired Newmark Group (NMRK.O) in March to sell about $60 billion of Signature Bank's loans, after state regulators decided to close down the failed lender amid a turmoil in regional banks earlier this year. The FDIC declined to comment beyond the notice on its website. The sale was launched on July 25, 2023 and is limited to FDIC-insured depository institutions, the Bloomberg report said. The notice reads that the loans for sale "consist of subscription credit facilities to private equity funds". Announcement • May 08
Hagens Berman, National Trial Attorneys, Encourages Signature Bank Investors with Substantial Losses to Contact Firm’s Attorneys Before May 15th Deadline in Securities Fraud Class Action Hagens Berman, national trial attorneys, urges Signature Bank investors who suffered substantial losses to submit your losses now. Class Period: March 2, 2023 – March 12, 2023. Lead Plaintiff Deadline: May 15, 2023. On April 4, 2023, The Wall Street Journal reported Signature Bank insiders sold $100 million in stock as the bank pivoted to attract cryptocurrency companies and became a stock-market darling. The executives sold many of their 2021 shares in the spring at around $220. Signature was one of only two companies in the S&P 500 that didn’t file insider-trading transactions with the SEC. The other was First Republic Bank. The bank also appeared to miscategorize some of its FDIC filings as dispositions to the company, meaning the shares were sold to the company, rather than sales on the open market. The litigation focuses on Signature Bank’s repeated assurances that it was in a strong financial position despite the undisclosed risks it took. Investors began to learn the truth on March 12, 2023, when the New York Department of Financial Services announced that, to protect Signature Bank depositors, DFS had taken possession of the bank and appointed the Federal Deposit Insurance Corporation as the bank’s receiver. Price Target Changed • Mar 14
Price target decreased by 9.3% to US$134 Down from US$148, the current price target is an average from 9 analysts. New target price is 91% above last closing price of US$70.00. Stock is down 76% over the past year. The company is forecast to post earnings per share of US$14.36 for next year compared to US$20.89 last year. 
