Signature Bank of Georgia Reports 4th Quarter and Year-end Results

Feb 19 2020

Q4 /FY 2019 Operating Performance

Sandy Springs, GA., March 1, 2020 – Signature Bank of Georgia (“SBGA”) (OTCPK: SGBG ) is pleased to report earnings results for the quarter and YTD ending December 31, 2019. Unaudited net income for the three months ending December 31, 2019 was $316M compared to a loss of $761M for the fourth quarter of the prior year. Unaudited net income YTD as of December 31, 2019 is $346M compared to a loss of $1,269MM as of December 31, 2018.

Total assets as of December 31, 2019 were $156.7 million, compared to total assets of $119.7 million as of December 31, 2018 and $144.8 million as of September 30, 2019. Total loans, net of reserves, were $94.4 million and deposits were $134.5 million as of December 31, 2019, compared to net loan balances of $60.6 million and deposits of $99.5 million at December 31, 2018 and net loan balances of $86.8 million, and deposits of $122.9 million, as of September 30, 2019.

Freddie Deutsch, President and Chief Executive Officer of Signature bank of Georgia stated “we are pleased with the fourth quarter results. Earnings continue to benefit from the investments we’ve made in high performing bankers as we continued to see strong loan and deposit growth this quarter and for the year.”

Established in 2005, Signature Bank of Georgia is the only locally owned and operated community bank headquartered within Sandy Springs, Georgia, one of the most affluent communities in the country. The bank offers a full range of business and consumer deposit and treasury management products, and loans in the metropolitan Atlanta area and is a preferred lender with the Small Business Administration.  For the SBA’s fiscal year ending 2019, Signature Bank of Georgia was among the Top 20 – 7(a) SBA Lenders out of approximately 159 in Georgia in terms of gross loan volume. Giving back to the community is an integral part of the bank’s mission. Signature Bank of Georgia is located at 6065 Roswell Road, between Hammond and Hilderbrand Drives. For more information, visit the bank’s websites at signaturebankga.com or sbaloansatlanta.com. Signature Bank of Georgia is not affiliated with Signature Bank of New York.

4th qtr. – 19 vs. 4 qtr. – 18 

2019 2018
Net Income $316 ($761)
Net Interest Margin 3.74% 3.82%
Total Assets $156,722 $119,660
Total Deposits $134,522 $99,486
Core Deposits Growth Rate 10.03% 22.55%
Net Loans & Leases $94,423 $60,613
Loan Growth Rate 8.69% -1.74%

Asset Quality

Loss Allowance to Gross Loans 0.93% 1.11%
OREO $2,450 $2,971
Noncurrent Loans (NPL) to Loans 3.62% 5.75%
Total – Past Due 30-89 Days $0 $0
Texas Ratio 30.54% 36.06%

Capital

Leverage Ratio (Core Capital) 12.66% 15.88%
Tier 1 Risk-Based Capital Ratio 18.47% 26.98%

Efficiency

Efficiency Ratio 84.71% 181.91%
Assets per Employee $6,028 $5,203
Revenue per Employee $348 $161
Net Loans & Leases to Deposits 70.19% 60.93%

Year-end 2019 vs 2018

2019 2018
Net Income $346 ($1,269)
Net Interest Margin 3.96% 3.68%
Total Assets $156,722 $119,660
Total Deposits $134,522 $99,486
Core Deposits Growth Rate 32.11% 5.68%
Total Loans & Leases $94,423 $60,613
Loan Growth Rate 55.50% 5.67%

Asset Quality

Loss Allowance to Gross Loans 0.93% 1.11%
OREO $2,450 $2,971
Noncurrent Loans (NPL) to Loans 3.62% 5.75%
Total – Past Due 30-89 Days $0 $0
Texas Ratio 30.54% 36.06%

Capital

Leverage Ratio (Core Capital) 12.66% 15.88%
Tier 1 Risk-Based Capital Ratio 18.47% 26.98%

Efficiency

Efficiency Ratio 92.45% 128.77%
Assets per Employee $6,028 $5,203
Revenue per Employee $286 $190
Net Loans & Leases to Deposits 70.19% 60.93%
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