A letter from our late founder, Richard Casey, on why Square 1 Bank was founded and how the idea became a reality, thus giving us the reputation of "entrepreneurs serving entrepreneurs."
Back in 2005, a small group of colleagues and I began creating a new, full-service venture bank. We took the idea on the road.
While talking to potential investors, the questions we were invariably asked were: 1) is another bank really needed? and 2) could we get the right people? The answer to those two questions is linked. We believe, and our extensive due diligence confirms, that the world does need a highly-focused venture bank staffed with experienced people who "get it."
We designed Square 1 from the ground up to be different – quick and responsive, adaptive and flexible, accessible and high touch. This forward-looking, fresh approach attracted a certain entrepreneurial mindset. We found experienced team players who were driven by an entrepreneur’s motivation to find and embrace a better way.
After successfully closing a record-breaking $105 million private placement, we opened our doors for business on August 8, 2005. At our launch, we opened the doors of six offices across the country, and now we have ten – in Austin, Boston, Boulder, Durham, Los Angeles, McLean, New York metro, Palo Alto, San Diego and Seattle.
We look forward to sharing the full Square 1 experience with you. Our team demonstrates daily, personally, that a bank really can be different. That is why we founded Square 1 Bank. We can credibly say, "We are entrepreneurs serving entrepreneurs."