Esquire Financial Holdings Announces Completion of Signature Bank Merger

What Happened
Esquire Financial Holdings, Inc. announced on August 3, 2026 that the merger with Signature Bancorporation, Inc. closed effective August 1, 2026. The transaction included a two‑step merger and a bank merger that combined Signature Bank into Esquire Bank, N.A. Under the Merger Agreement, each outstanding share of Signature common stock was converted into the right to receive 2.671 shares of Esquire common stock (cash paid for fractional shares).

Key Details

• Closing date: Effective August 1, 2026; press release filed August 3, 2026 (Exhibit 99.1).
• Exchange Ratio: 2.671 shares of Esquire common stock for each share of Signature common stock; fractional shares paid in cash.
• Equity awards: Outstanding Signature stock options vested (except post‑agreement grants), were assumed by Esquire and converted using the 2.671 exchange ratio with rounding rules and adjusted exercise prices.
• Board and leadership changes: Esquire’s board increased to 10 members; Michael G. O’Rourke (Co‑Founder, President & CEO of Signature) and Leonard S. Caronia (Chairman of Signature) were appointed to the Esquire board. Mr. O’Rourke was named President of Signature, a division of Esquire Bank, and has an employment agreement and lock‑up restricting sale of merger shares. New directors will serve until the 2027 annual meeting and are expected to be nominated to serve at least three years thereafter.

Why It Matters
This filing confirms the legal closing and operational combination of Signature into Esquire, a material corporate and banking consolidation that affects shareholders, option holders and the combined bank’s leadership. Shareholders of Signature received Esquire stock at a fixed exchange ratio (2.671), while Signature equity awards were converted into Esquire options under defined terms—important for holders of those securities. The board additions and appointment of Signature’s CEO to a senior operating role signal management continuity for Signature’s franchise as it integrates into Esquire.