The adjustment follows the liquidation of Signature’s Schedule A loans, which saw a recovery rate of 62%. This performance exceeded the 50% recovery rate initially anticipated in the companies' joint proxy statement filed earlier this spring. As a result of the higher-than-expected recovery, Esquire will issue approximately 54,000 additional shares—a 1.6% increase over the original pro forma projections.
In section Releases
Esquire Financial Sets Final Terms for Signature Bancorporation Merger
Esquire Financial Holdings has finalized the exchange ratio for its acquisition of Signature Bancorporation, settling on a conversion rate of 2.671 shares of Esquire stock for each share of Signature common stock following the sale of a $70 million loan portfolio.
Andrew C. Sagliocca, CEO and President of Esquire, confirmed that the revised ratio is already accounted for in the company’s financial disclosures. The firms remain on track to finalize the merger during the third quarter of 2026, pending final approval from shareholders and the completion of customary closing conditions.
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