Durham, N.C. (August 14, 2012) - Square 1 Bank, a full service commercial bank exclusively serving the financial needs of entrepreneurs and the venture capital community, today announced that Patrick Oakes has joined as Executive Vice President and Chief Financial Officer. This news comes on the heels of Square 1 Bank’s seventh anniversary.
Oakes is a senior financial executive with over 20 years of experience in banking, finance and capital markets. As Square 1’s Chief Financial Officer, he will provide leadership as a member of the executive team, and will oversee all financial aspects of the bank including accounting, treasury, investor relations, and budgeting functions.
“Square 1 has achieved great things in a few short years, and today it is the premier provider of financial services to emerging companies and their investors. I look forward to joining such a strong team and playing a key role in Square 1’s future successes,” said Oakes about his new role.
Previously, Oakes was an Executive Vice President and Chief Financial Officer of Encore Bancshares, Inc. At Encore, he led that publicly-traded institution’s accounting, corporate treasury, finance, investor relations and procurement functions.
Prior to Encore, Oakes was Senior Vice President and Treasurer of Sterling Bancshares, Inc. where he managed that institution’s treasury function, including all aspects of funding, liquidity, investments, capital and management of interest rate risk.
Oakes received his undergraduate degree from Texas A&M University and his MBA from Richmond, The American International University in London. He is a Chartered Financial Analyst with Series 7 and 63 licenses.
In 2004, as with many startups, Square 1’s founders conceptualized the bank around a kitchen table. What started as a discussion about entrepreneurship among long-time colleagues quickly turned into planning sessions that set the stage for the launch of Square 1. Today, Square 1 has nearly $2 billion in total assets, more than 1,300 clients, $724 million in loans and $1.6 billion in deposits.
“Over the past seven years, Square 1 has evolved into a vital partner in the entrepreneurial community. Pat is a highly experienced corporate finance executive and he rounds out an exceptional leadership team that consistently and successfully executes on strategies. We are delighted to welcome him to the Square 1 team,” said Doug Bowers, President and CEO, Square 1 Bank.
About Square 1
Square 1 Bank is a full service commercial bank dedicated exclusively to serving the financial needs of the venture capital community and entrepreneurs in all stages of growth and expansion. Square 1's expertise, focus and strong capital base provide solid support for its clients' needs. The bank offers tailored products and solutions aided by the latest in technological innovations. Square 1 has offices coast to coast in Austin, Boston, Boulder, Durham, McLean, New York, San Diego, Santa Monica, Seattle, and Silicon Valley. For more information, visit www.square1bank.com.
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