(SQBK) - Square 1 Financial, Inc. is a financial holding company that provides commercial banking services to entrepreneurs, venture capitalists, and private equity firms. The company was founded in 2005 and is headquartered in Durham, North Carolina.
Square 1 Financial offers a range of banking services, including deposit accounts, loans, treasury management, and online banking. Its target clients are technology and life science companies, as well as venture capital and private equity firms.
As of December 31, 2014, the company had $3.2 billion in assets, $2.6 billion in deposits, and $2.0 billion in loans. It operates through a network of offices in major innovation centers across the United States, including the San Francisco Bay Area, Southern California, New York, Boston, Seattle, Denver, and Austin.
In 2015, Square 1 Financial was acquired by PacWest Bancorp, a bank holding company based in Los Angeles, California. Following the acquisition, Square 1 Financial became a wholly-owned subsidiary of PacWest Bancorp.
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