# Square 1 Bank

Square 1 Bank is an Asset Manager based in Durham, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Durham, United States
- **Region:** North America
- **Address:** Durham, NC, United States
- **Founded:** 2005
- **Assets under management:** Undisclosed
- **Website:** square1bank.com
- **LinkedIn:** https://www.linkedin.com/company/banc-of-california1

## Regulatory record

- **Reports private funds:** No

## About

Square 1 Financial is the bank holding company for Square 1 Bank, a commercial bank serving the venture capital community and entrepreneurs. Square 1 Bank has offices in Austin, Boston, Denver, Durham, Los Angeles, New York, San Diego, Seattle, Silicon Valley, and Washington, DC. The bank offers tailored products and solutions, with a strong capital base and expertise in serving clients' needs.

## Sectors

- FinTech
- Digital Health
- Enterprise Software
- Venture Debt

## People

- Richard Casey — CEO
- J. Scott Blevins — CFO

## Questions

### What was Square 1 Bank's core business model?

Square 1 Bank provided venture debt — loans to venture-backed companies that lacked traditional collateral — combined with deposit and treasury services. It charged interest plus warrants, targeting technology and life sciences startups that had institutional backing but early-stage revenue.

### How did Square 1 Bank generate revenue beyond interest?

Square 1 Bank structured loans with equity warrants, giving it upside in borrower growth. It also earned fee income from deposit accounts, treasury management, and wire transfers for its banking clients.

### Why did PacWest Bancorp acquire Square 1 Bank?

PacWest aimed to expand into venture lending and gain access to Square 1's client base of fast-growing tech companies. The 2015 deal added a specialty lending platform and geographic diversification beyond PacWest's California base (per PacWest annual report, 2015).

### What happened to Square 1 Bank after the acquisition?

Square 1 Bank operated as a brand within PacWest Business Credit until PacWest itself was acquired by Banc of California in 2022. The unit still exists under Banc of California as a venture-lending division (per Banc of California press releases, 2022).

### Is Square 1 Bank still an independent firm?

No. Square 1 Bank was acquired by PacWest Bancorp in 2015 and integrated into its business credit division. It no longer operates as a standalone entity (per SEC filings, 2015).

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Last updated: 2026-06-03T20:00:00.000Z

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