Esquire Financial Holdings, which owns Esquire Bank, is acquiring Signature Bank in a deal valued at $348.4 million.
Once the deal closes, the combined company will have approximately $4.8 billion in assets at closing. The deal will provide Esquire with a Chicago commercial banking franchise where Esquire traditionally lacked presence. It also supports Esquire’s national litigation platform and expands the resources available to Signature’s clients in the Midwest.
Esquire Financial is a commercial bank headquartered in Jericho, N.Y., with offices in Los Angeles. It serves the financial needs of the litigation industry and small businesses nationally, as well as commercial and retail customers in the New York and Los Angeles areas.
“Signature’s leadership in the attractive Chicago market, best-in-class management team, and exceptional core funding provide Esquire with a strong platform for continued growth and expansion in the country’s third largest metropolitan area or MSA and one of the nation’s largest legal markets. This merger is compelling on multiple levels. Financially, it enhances our operating profile, expands our resources, and diversifies our balance sheet while maintaining a robust capital position for continued expansion in our unique national litigation platform. Strategically, the combination brings together two institutions with highly complementary commercial banking operations and capabilities,” Andrew Sagliocca, vice chairman, CEO and President of Esquire, said.
The combined company will be positioned for enhanced scale with improved opportunities for growth and profitability. Signature brings longstanding history of commercial and commercial real estate relationship banking in the Chicago market while Esquire is a national leader in the litigation vertical that seeks to expand its presence in Chicago and nationwide.
“We are excited to announce a partnership that will benefit both institutions, our clients, and our shareholders, while also positioning us to work together towards the next chapter of our combined organization’s legacy. By bringing together Signature’s strong Midwest commercial banking franchise with Esquire’s national capabilities, we will have greater resources and expanded reach to support our clients as they grow. As we celebrate Signature’s 20th anniversary, this merger will provide our shareholders with enhanced liquidity and an opportunity to create greater value in the years ahead,” Mick O’Rourke, co-founder, director, CEO, and president of Signature, said.
Signature’s top three executives will remain with the combined company and oversee commercial business development opportunities and operations in the Chicago market. They include O’Rourke, who will be president of Signature, a division of Esquire Bank; Bryan Duncan, who will be vice president of Signature, a division of Esquire Bank; and Kevin Bastuga, who will be executive vice president of Signature, a division of Esquire Bank.
Each of the combined company’s and bank’s board of directors will consist of eleven directors, including nine directors from Esquire and two directors from Signature. Leonard Caronia, current Signature chairman of the board will join Esquire’s board of directors, along with O’Rourke:
The merger is anticipated to close in the third quarter of 2026.