Signature Bank Recipient of Cigna’s 2019 Well-Being Award for Fifth Consecutive Year

Signature Bank (Nasdaq: SBNY), a New York-based full-service commercial bank, announced today it has been named the winner of the annual Cigna Well-Being Award in 2019 for demonstrating a strong commitment to improving the health and well-being of its employees through its expansive workplace wellness program.

2019 marks the fifth consecutive year Signature Bank was named winner of the Well-Being Award by Cigna. Signature Bank was selected based on its robust wellness program, which was put in place in 2007. The program, with strong support from the Bank’s leadership, has continually grown and expanded to feature many incentives encouraging healthy behaviors in and outside the workplace. These include, among others, seminars and webinars relating to topics such as diet and stress management as well as in-house bio-metrics and cancer awareness programs. The Bank’s work environment and policies support a culture of health and well-being.

“At Signature Bank, our assets are the 1,500+ committed colleagues who come to work every day and are productive and dedicated to their roles and this institution. Their health and well-being are top priority. We have broadened the wellness components of our program since its inception, which contributed to enhancing the health of our workforce and benefit the well-being of our colleagues. We are honored to be named a winner of the Cigna Well-Being Award this year and every year since 2015, and appreciate being recognized for our wellness program, which has been an important initiative for the Bank for more than a decade,” said Joseph J. DePaolo, President and Chief Executive Officer at Signature Bank.

“Cigna is committed to creating a healthy workplace and a culture of wellness,” said Tony Contessa, Cigna's senior vice president of sales in New York and New Jersey. “We continue to be impressed by the year-over-year efforts of Signature Bank’s wellness programs. They set the example for other companies in building healthier communities in the region."

Cigna Well-Being Award applicants are evaluated based on the core components of their wellness program, including goals, implementation, incentives, leadership engagement and employee participation. All applications are reviewed and judged by a multi-departmental Cigna selection committee.

While poor health takes a physical toll on workers, it also poses a burden to employers. According to the Centers for Disease Control and Prevention (CDC), U.S. employers lose more than $225 billion each year in productivity due to employee health problems.