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Square 1 Bank Adds to Midwest Banking Team

MINNEAPOLIS, June 8, 2015 (GLOBE NEWSWIRE) -- Square 1 Bank, the premier banking partner to entrepreneurs and the venture capital community, today announced that it has strengthened its Midwest team with the addition of new hires, Jay McNeil as managing director and Nick Honigman as vice president, to help lead its life sciences banking efforts. Based in Square 1 Bank's newest office in St. Louis Park, MN, the team supports the commercial banking needs of entrepreneurs and venture capital firms in the Midwest.

McNeil comes to Square 1 Bank from Silicon Valley Bank, where he founded and served as managing director of the Midwest life sciences practice. Over his career, he has originated more than $600MM in life sciences transactions. Having focused his career on understanding and serving the various banking needs of medical device, biotech, pharma, diagnostic and healthcare IT companies, McNeil will be instrumental in expanding the reach of Square 1's life sciences banking practice throughout the Midwest. He earned a BS in Finance from the University of Northern Colorado.

A Minnesota native, Honigman joins Square 1 with proven industry and regional experience, including over ten years of experience servicing life sciences clients. Most recently, Honigman was vice president alongside McNeil at Silicon Valley Bank, where he played a key role in establishing the Midwest life sciences practice and helped manage over $300MM in venture debt transactions within the life sciences sector. He earned a BS in Finance from Augsburg College.

"I am thrilled to join a team with such a strong entrepreneurial spirit," said McNeil. "Having spent over ten years together serving life sciences startups, Nick and I look forward to combining our own passion and expertise with Square 1 Bank's innovative approach to serving this market. We share a commitment to positioning ourselves as the best venture bank in the Midwest."

Ryan Dammeyer, managing director of Square 1 Bank's Midwest region, added, "Jay and Nick share a passion for serving the life sciences sector, as well as proven success in opening a new office. Together, they will be a driving force as we continue to provide clients with the products, service and expertise they need as their companies grow. I am excited to welcome Jay and Nick to the Square 1 Bank team, and I look forward to seeing the region grow under their leadership."

About Square 1 Bank

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 flexible resources and unmatched support to meet our clients' needs. Square 1 has offices coast-to-coast in Austin, the Bay Area, Boston, Chicago, Denver, Durham, Los Angeles, Minneapolis, New York, San Diego, Seattle and Washington, DC. For more information, visit www.square1bank.com.

CONTACT: Media Contact: Square 1 Bank Dee McDougal 919.597.7479 dmcdougal@square1bank.com

Source:Square 1 Financial