Signature Bank and Esquire Bank Announce $348 Million Merger

The combined company will have around $4.8 billion in assets and a stronger presence in the Midwest and on the coasts.

Mar. 12, 2026 at 8:35pm

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Signature Bank, a 20-year-old commercial bank serving mostly middle-market businesses in the Chicago area, is merging with New York-based Esquire Bank in an all-stock transaction valued at $348 million. The combined company is expected to have about $4.8 billion in assets and will continue to operate under the Signature Bank name and leadership.

Why it matters

The merger brings together two banks with similar histories and client bases, allowing them to expand their reach and offerings. For Esquire, it provides a foothold in the Midwest market, while for Signature, it offers additional capabilities to better serve its clients, which include law firms, medical practices, manufacturers, and other professional service firms.

The details

Under the terms of the agreement, Esquire Financial is acquiring Signature Bank. Signature Bank, which has two Chicago branches and about $2 billion in assets, will continue to operate under the same banner and leadership after the merger. Esquire, which focuses on the litigation industry as well as commercial and retail customers on both coasts, initiated the merger talks, seeking to enter the Chicago market through Signature's strong presence and client portfolio.

  • The merger is expected to close in the third quarter of 2026.
  • Signature Bank was founded in 2006, while Esquire Bank was also founded in 2006.

The players

Signature Bank

A 20-year-old commercial bank serving mostly middle-market businesses in the Chicago area, with two branches in the city and about $2 billion in assets.

Esquire Bank

A New York-based bank founded in 2006, with a focus on the litigation industry as well as commercial and retail customers on both coasts.

Mick O'Rourke

Co-founder and CEO of Signature Bank.

Andrew Sagliocca

CEO of Esquire Bank.

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What they’re saying

“Signature Bank is going to be a division of Esquire bank, and we're going to continue to grow our presence here in the Chicago market.”

— Mick O'Rourke, Co-founder and CEO of Signature Bank (Chicago Tribune)

“Strategically, the combination brings together two institutions with highly complementary commercial banking operations and capabilities.”

— Andrew Sagliocca, CEO of Esquire Bank (Chicago Tribune)

What’s next

The merger is expected to close in the third quarter of 2026, pending regulatory approval.

The takeaway

This merger allows two relatively young and similar banks to combine their strengths and expand their reach, with Signature Bank gaining additional capabilities to serve its clients and Esquire Bank establishing a foothold in the Midwest market.