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Esquire Financial files for IPO


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Esquire Financial files for IPO

Jericho, N.Y.-based Esquire Financial Holdings Inc. filed a Form S-1 registration statement for an initial public offering of its common stock.

The proposed maximum aggregate offering price is approximately $40.3 million, estimated solely to calculate the registration fee. The company did not disclose a number of shares or a per-share price range.

Sandler O'Neill & Partners LP is the lead underwriter.

Esquire Financial, the parent of Esquire Bank NA, intends to apply to list its common stock on the Nasdaq Capital Market under the symbol ESQ.

The company plans to use the net proceeds for supporting the growth in Esquire Bank's loan portfolio, including the possibility of making larger loans due to the increased legal lending limit; funding potential strategic acquisitions; and for general corporate purposes, possibly including other growth initiatives. It will not receive any proceeds from the sale of its common shares by selling stockholders.