The bank said that the net income raised primarily due to an increase in net interest income, fueled by strong deposit growth and record loan growth.
Net interest income for the quarter increased 18.8% to $134.2m, compared to $112.98m for the same period last year.
Total assets increased 21.3% to $15.87bn at June 30, 2012 compared to $13.08bn for the same period a year ago.
Signature Bank chairman of the board Scott Shay said that in these uncertain economic times where both foreign and US capital markets remain unstable, the company has stayed firmly centered on meeting the banking needs of its clients.
"For the past decade, our veteran relationship bankers have provided steadfast assistance to our clients throughout various economic cycles," Shay said.
