8-K
Esquire Financial Holdings, Inc. (ESQ)
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): June 2, 2022
Esquire Financial Holdings, Inc.
(Exact name of the registrant as specified in its charter)
| - | | |
|---|---|---|
| Maryland | 001-38131 | 27- 5107901 |
| (State or other jurisdiction of<br><br>incorporation or organization) | (Commission File Number) | (IRS Employer<br><br>Identification No.) |
| | | |
|---|---|---|
| 100 Jericho Quadrangle , Suite 100 | | |
| Jericho , New York | | 11753 |
| (Address of principal executive offices) | | (Zip Code) |
( 516 ) 535-2002
(Registrant’s telephone number)
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (See General Instruction A.2. below):
| | |
|---|---|
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4c) |
Securities registered pursuant to Section 12(b) of the Act:
| <br><br> | ||
|---|---|---|
| Title of each class | Trading<br><br>Symbol(s) | Name of each exchange on which registered |
| Common Stock, $0.01 par value | ESQ | The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☒
Item 8.01Other Events.
On June 2, 2022, Esquire Financial Holdings, Inc. (“Company”), the financial holding company for Esquire Bank, National Association (“Esquire”), today announced that the Company has signed an exclusive agreement with B.E. Blank & Company (“BEB”), a leading investment firm in the litigation finance market, establishing a partnership to provide financing to commercial law firms throughout the United States.
A press release announcing these actions is attached as Exhibit 99.1 hereto and incorporated herein by reference.
Item 9.01Financial Statements and Exhibits.
(d) Exhibits.
| | ||
|---|---|---|
| Exhibit No. | | Description |
| 99.1 | | Press Release dated June 2, 2022. |
| 104 | | Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
| | |
|---|---|
| | ESQUIRE FINANCIAL HOLDINGS, INC. |
| | |
| | |
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| Dated: June 2, 2022 | By:/s/ Andrew C. Sagliocca |
| | Andrew C. Sagliocca |
| | President and Chief Executive Officer |
EFHI - BEB Partnership Press Release - DRAFT - 06 01 2022 (00408078.DOCX;1)
Exhibit 99.1
ESQUIRE FINANCIAL HOLDINGS AND B.E. BLANK & COMPANY ANNOUNCE EXCLUSIVE PARTNERSHIP FOR COMMERCIAL LAW FIRM FINANCING
Jericho, NY – June, 2, 2022 - Esquire Financial Holdings, Inc. (NASDAQ: ESQ) (“Company”), the financial holding company for Esquire Bank, National Association (“Esquire”), today announced that the Company has signed an exclusive agreement with B.E. Blank & Company (“BEB”), a leading investment firm in the litigation finance market, establishing a partnership to provide financing to commercial law firms throughout the United States. Through this partnership, the Company will market Esquire’s and BEB’s products and services to existing and prospective law firms on a nationwide basis by leveraging Esquire’s proprietary CRM platform and digital marketing technology stack. In return, the Company will receive an economic interest with respect to the partnership equal to 24.9% of the performance allocation BEB receives from the partnership.
“Ben Blank and his team are leaders in the litigation finance market, providing flexible, long-term focused growth capital financing to law firms on a national basis,” stated Andrew C. Sagliocca, the Company’s CEO and President. “We believe this exclusive partnership will be transformational in the litigation market, coupling our customer centric, tech-forward litigation banking platform with BEB’s scalable growth capital finance platform. This partnership will allow law firms to pursue financing with industry leading terms delivered seamlessly through our banking technology.”
BEB, together with its affiliated investment vehicles, is an independent investment firm specializing in credit investments in the litigation industry with its own sources of capital and investment committee. The Company will share in the economic upside of this partnership without taking any direct credit risk with respect to those investments.
“Esquire has been an industry leader and brand name in the litigation market for well over a decade,” stated Benjamin E. Blank, Founder and Chief Investment Officer of BEB. “BEB’s and Esquire’s mission statements and underwriting are uniquely aligned, providing tailored solutions for law firms using technology as a driver for customer success and growth.”
About Esquire Financial Holdings, Inc.
Esquire Financial Holdings, Inc. is a financial holding company headquartered in Jericho, New York, with one branch office in Jericho, New York and an administrative office in Boca Raton, Florida. Its wholly owned subsidiary, Esquire Bank, National Association, is a full-service commercial bank dedicated to serving the financial needs of the legal industry and small businesses nationally, as well as commercial and retail customers in the New York metropolitan area. The bank offers tailored products and solutions to the legal community and their clients as well as dynamic and flexible payment processing solutions to small business owners. For more information, visit www.esquirebank.com.
Contact Information:
Eric S. Bader
Executive Vice President and Chief Operating Officer
Esquire Financial Holdings, Inc.
(516) 535-2002 / eric.bader@esqbank.com