Square 1 Financial in Durham, N.C., is planning an initial public offering.

The $2.2 billion-asset company said in a press release Monday that it will trade its common stock on the Nasdaq under the stock symbol SQBK. Square 1 said it has filed a registration statement with the Securities and Exchange Commission and that the number and price of shares in the offering have not yet been determined.

Sandler O'Neill will serve as the offering's lead book-running manager. Keefe Bruyette & Woods will serve as passive book-running manager.

Square 1 said last week that it had acquired Sand Hill Finance, a finance company in Silicon Valley.

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