Signature Bank (NASDAQ:SBNY) came out with its third quarter earnings results on Tuesday 20th October 2020 before market open.
Key Numbers from third quarter earnings result
Quarterly income of $ 2.62 per share, from the net interest income of $ 336.05 million
Analysts Estimated revenue of $ 421.41 million and $ 2.76 income per share
Earnings missed analysts estimates by $ 0.14 or 5.07 percent
Earnings declined 4.38 percent compared with the same quarter last year
Revenues raised 2.81 percent versus third quarter of last year.
Scott A. Shay, Chairman of the Board, commented, While current times are very challenging on both the personal and professional fronts for our Signature Bank colleagues, it is also an appropriate time to be proud of what we have accomplished as an organization. Clients often share how grateful they are that their bankers stand ready to listen while offering sage advice and acting as a sounding board on difficult strategic decisions.
