Signature Bank’s Q3 Deposits Grow by $10B to $95.57B

Q3 net income increased to $241.4M from $138.6M during the same period last year.

By Jamie Crawley

Oct 19, 2021 at 10:51 a.m. UTC

Updated Oct 19, 2021 at 7:04 p.m. UTC

Signature Bank CEO Joseph DePaolo

Jamie Crawley

Jamie Crawley is a CoinDesk news reporter based in London.

Follow @JamieCrawleyCD on Twitter

Signature Bank added $10 billion in deposits in the third quarter, which included “notable contributions” from its digital assets service.

Deposits for the New York-based bank grew to a total of $95.57 billion, the company announced Tuesday.
Signature did not specifically report how much of the growth was due to digital asset deposits, but described the “notable contributions” to the increase from its digital assets banking team.
The contribution included its Ethereum-based digital payments platform Signet, the first such platform approved approved for use by the New York State Department of Financial Services.

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