Community banking

Square 1 in North Carolina Planning IPO

By Sarah Todd January 07, 2014, 9:20 a.m. EST 1 Min Read

M&A

Square 1 Bank in N.C. Buys Silicon Valley Firm

Square 1 Bank in Durham, N.C., has bought Sand Hill Finance, a finance company based in the Silicon Valley.

By Sarah Todd

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Bank technology

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Square 1 Financial in Durham, N.C., is planning an initial public offering.

The $2.2 billion-asset company said in a press release Monday that it will trade its common stock on the Nasdaq under the stock symbol SQBK. Square 1 said it has filed a registration statement with the Securities and Exchange Commission and that the number and price of shares in the offering have not yet been determined.

Sandler O'Neill will serve as the offering's lead book-running manager. Keefe Bruyette & Woods will serve as passive book-running manager.

Square 1 said last week that it had acquired Sand Hill Finance, a finance company in Silicon Valley.

Deputy Editor, BankThink

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