Pinnacle Bank (OTCQX:PBNK) announced that effective March 18, 2015 its
common stock began trading on OTCQX. The Bank’s symbol will continue to
be PBNK. The OTCQX is the most sophisticated market operated by OTC
Markets Group, Inc.
The OTCQX for banks is an extension of the OTCQX marketplace and was
created to assist strongly capitalized well managed banks that have
committed to provide higher level reporting and greater transparency. To
qualify for inclusion in the OTCQX marketplace, the bank must meet high
financial reporting standards and be current in reporting to bank
regulators. Members are required to provide quarterly results and
information on material events as they occur. They must also appoint a
FINRA member broker dealer specializing in bank stocks. Crowell Weedon &
Co., a division of D.A. Davidson & Co., a nationally recognized firm
specializing in banks, will serve as Pinnacle Bank’s Corporate Broker on
OTCQX. The Bank believes that the higher reporting requirements, greater
transparency and addition of a dedicated corporate broker will build
confidence with stockholders and potential investors.
Pinnacle Bank’s President and CEO Susan K. Black said, “We are pleased
that Pinnacle Bank has been approved to trade on the OTCQX marketplace.
The increased visibility and transparency of being elevated to the OTCQX
marketplace is expected to increase the liquidity of our shares and
ultimately improve shareholder value, consistent with our commitment to
increase shareholder value."
Pinnacle Bank is a full-service business bank dedicated to providing
quality depository and credit services in Santa Clara, San Benito and
Monterey counties. The bank focuses on commercial banking services for
businesses and nonprofit organizations, offering a variety of products
and services that combine the best of personal touch with convenient
technology-based delivery. Pinnacle Bank has locations in Morgan Hill,
Gilroy and Salinas. For more information please go to www.pinnaclebankonline.com.
Forward-Looking Statements
This release may contain forward-looking statements, such as, among
others, statements about plans, expectations and goals concerning growth
and improvement. Forward-looking statements are subject to risks and
uncertainties. Such risks and uncertainties may include, but are not
necessarily limited to fluctuations in interest rates, inflation,
government regulations and general economic conditions, including the
real estate market in our primary service area and more generally in
California and other factors beyond the Bank's control. Such risks and
uncertainties could cause results for subsequent interim periods or for
the entire year to differ materially from those indicated. Readers
should not place undue reliance on the forward-looking statements, which
reflect management's view only as of the date hereof. Pinnacle Bank
undertakes no obligation to publicly revise these forward-looking
statements to reflect subsequent events or circumstances.
Copyright Business Wire 2015