NEW YORK, March 12, 2015 /PRNewswire/ -- OTC Markets Group Inc. (OTCQX: OTCM), operator of Open, Transparent and Connected financial marketplaces, today announced First Priority Financial Corp. ("First Priority") (OTCQX: FPBK), the holding company for First Priority Bank in Malvern, PA, has qualified to trade on OTCQX®, the best marketplace for established, global and growth companies. First Priority was previously privately-held.
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First Priority begins trading today on OTCQX under the symbol "FPBK." U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
"We are thrilled to welcome First Priority to the OTCQX marketplace," said R. Cromwell Coulson, President and CEO of OTC Markets Group. "Going public on OTCQX will allow First Priority to provide liquidity to its existing shareholders as well as broaden its visibility with new investors through transparent trading, convenient access to its news and financial disclosure and dedicated capital market support."
"Our primary objective in going public on OTCQX is to provide a liquidity option for our current shareholders and to broaden the ownership opportunity for potential new investors while also increasing the overall awareness related to First Priority's operating strengths and future growth potential," said David E. Sparks, Chairman and CEO of First Priority. "We are pleased to have our stock traded on the OTCQX for Banks platform, designed by OTC Markets Group to specifically serve community focused, strong banks within our industry, which will allow us to increase visibility and provide a higher level of overall liquidity for our stock over time."
Keefe Bruyette and Woods, Inc. serves as First Priority's Corporate Broker on OTCQX.
First Priority is a bank holding company which along with its bank subsidiary, First Priority Bank, is headquartered in Malvern, PA. First Priority Bank, with $492.1 million in assets, was chartered in November 2005 and opened for business to the public in January 2006 as a full service commercial bank providing personal and business lending, deposit products and wealth management services through its ten offices in Berks, Bucks, Chester and Montgomery Counties, Pennsylvania.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates Open, Transparent and Connected financial marketplaces for 10,000 U.S. and global securities. Through our OTC Link® ATS, we directly link a diverse network of broker-dealers that provide liquidity and execution services for a wide spectrum of securities. We organize these securities into marketplaces to inform investors of opportunities and risks: the OTCQX® Best Marketplace; the OTCQB® Venture Marketplace; and the OTC Pink® Open Marketplace. Our data-driven platform enables investors to easily trade through the broker of their choice at the best possible price and empowers a broad range of companies to improve the quality and availability of information for their investors. To learn more about how we create better informed and more efficient financial marketplaces, visit www.otcmarkets.com.
OTC Link ATS is operated by OTC Link LLC, member FINRA/SIPC and SEC regulated ATS.
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Media Contact:
Saskia Sidenfaden, OTC Markets Group Inc., +1 (212) 896-4428, saskia@otcmarkets.com
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SOURCE OTC Markets Group Inc.