Analysis of Signature Bank's Q3'22 Earnings

Signature Bank ($SBNY) currently trades at $157.29 per share, a (51.4%) decline year to date and a (47.0%) decline in the last twelve months. While Signature trades above its crypto banking peer Silvergate ($SI), digital asset exchange Coinbase and Bitcoin's spot price, it has underperformed the S&P 500 and more tech-weighted NASDAQ indices. While the share price has contracted, Signature reported robust earnings. 

Total interest income increased +26.0% to $976mm, a +75.7% increase YoY from $556mm in Q3'21. That being said, Signature's deposits declined QoQ.