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Source: The Signature Bank to announce merger

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The Signature Bank officials plan to announce a merger at 4 p.m. today during a news conference at Springfield Area Chamber of Commerce, a source familiar with the deal has told Springfield Business Journal. Speaking on the condition of anonymity, the source said local management would remain intact.

Signature Bank and The Bank merged in 2004 to form The Signature Bank, which has accumulated more than $800 million in assets in just eight years.

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