Signature Bank (NASDAQ:SBNY) Q4 2022 Earnings Call Transcript

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Mark Fitzgibbon: Okay. Sorry. I guess just following up on Joe’s comments, how likely do you think it is that Signature gets sort of been snared in any kind of congressional hearings on crypto?

Joseph DePaolo: It’s pretty hard to predict really. I mean, look, we’re a highly regulated banking institution. We file a strict BSA, KYC, AML policies and procedures. In this space, in particular, we have hand due diligence and monitoring. We’re really not aware of any concerns or issues that we have at this time, and we haven’t been involved in any litigation any meaningful litigation to date. So…

Mark Fitzgibbon: Okay. And then…

Joseph DePaolo: Fortunately for us, we were not – we had announced that we’re integrating the FTX, but we were not integrated yet with FTX. So we didn’t have client-related transactions of FTX is happening on our platform. Yeah, so that’s certainly good.

Mark Fitzgibbon: Okay. And Eric, could you share with us the number of digital deposit clients that you have today and maybe what the actual transaction volume was in the fourth quarter?

Eric Howell: Yeah. Currently, we have 1,410 active clients, and our transfer lines were $275.5 billion.

Mark Fitzgibbon: Okay. Great. And then last question. Steve, you might have mentioned this, but what was the spot deposit rates today?

Stephen Wyremski: 210 basis points.

Mark Fitzgibbon: Great. Thank you.

Stephen Wyremski: Thank you.

Operator: This concludes our allotted time and today’s conference call. If you’d like to listen to a replay of today’s conference, please dial (800) 934-4245. A webcast archive of this call can also be found at www.signatureny.com. Please disconnect your lines at this time, and have a wonderful day.+

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