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Signature Bank launches municipal finance subsidiary in Towson

Signature Bank launches municipal finance subsidiary in Towson

A New York-based bank said Monday it has launched new Towson-based subsidiary focused on municipal finance. Signature Public Funding Corp. is expected to employ about 12 people, said Susan Lewis, a spokeswoman for parent company Signature Bank. The Towson office opened the first week of July. Signature Bank, based in New York, started in May 2001 and had $28.6 billion in assets and $24.0 billion in deposits, $2.6 billion in equity capital and $3.6 billion in other assets under management as of March 31, 2015. The new subsidiary is designed to diversify the company's client base, attract less risky assets and add to its specialty finance offerings, Lewis said. Signature chose...

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