Why New York venture banks are finding traction in Durham

Why New York venture banks are finding traction in Durham
·3 min read

Quietly, New York commercial banks are building up their bases in Durham – thanks to local talent. Over the past two years, two New York banks have made their Bull City debuts: Signature Bank (Nasdaq: SBNY), which made a major market share splash in the latest Federal Deposit Insurance Corp. report; and Grasshopper Bank, a 4-year-old bank with a new staffed branch on Meridian Parkway. Both banks involve bankers formerly of Durham’s venture capital-focused Square 1 Bank, an institution that is now part of Pacific Western Bank (Nasdaq: PACW) of California.

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