Commercial bank Square 1 Financial files for a $58 million IPO

By Renaissance Capital,

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Square 1 Financial, which provides commercial banking services to venture firms, filed on Monday with the SEC to raise up to $58 million in an initial public offering. The Durham, NC-based company, which was founded in 2005 and booked $58 million in net interest income for the 12 months ended September 30, 2013, plans to list on the NASDAQ under the symbol SQBK. Sandler O'Neill and Keefe Bruyette Woods are the joint bookrunners on the deal. No pricing terms were disclosed.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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