NEW YORK, Oct., 1, 2015 /PRNewswire/ -- OTC Markets Group Inc. (OTCQX: OTCM), operator of Open, Transparent and Connected financial markets, today announced South Atlantic Bancshares, Inc. (OTCQX: SABK), the parent company of South Atlantic Bank in Myrtle Beach, SC, has qualified to trade on the OTCQX® Best Market. South Atlantic Bancshares was previously privately-held.
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South Atlantic Bancshares begins trading today on OTCQX under the symbol "SABK." U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
"We are proud to welcome South Atlantic Bancshares to our growing family of OTCQX companies," said R. Cromwell Coulson, President and CEO of OTC Markets Group. "Trading on OTCQX will provide South Atlantic an efficient, transparent public trading market for its shareholders as well as a platform to grow its visibility and exposure in the market. We look forward to supporting South Atlantic in its continued evolution as a publicly-traded company."
In making the announcement, K. Wayne Wicker, South Atlantic Bancshares' Chairman of the Board and CEO, stated, "The OTCQX marketplace is a great fit for our company because it will improve our visibility to investors interested in high-performing community banks, while providing a source of liquidity to our current shareholders. In the eight years since our company's formation, we have expanded to six locations along the South Carolina coast and generated improved market share and profitability, making the time right to bring our company's story to the forefront."
FIG Partners, LLC serves as South Atlantic Bancshares' Corporate Broker on OTCQX. For more information, investors can contact Mike Acampora from FIG Partners at 904-354-0441 or macampora@figpartners.com.
South Atlantic Bank is a $383.0 million community bank that is locally owned, controlled, and operated. Founded in 2007, the bank is headquartered in Myrtle Beach, South Carolina and has additional offices in North Myrtle Beach, Murrells Inlet, Pawleys Island, Georgetown, and Mount Pleasant, South Carolina. South Atlantic Bank offers a wide variety of services for businesses and consumers, including South Atlantic Bank goMobile, its mobile banking app. The bank also offers internet banking, no-fee ATM access, checking, CD, and money market accounts, merchant services, mortgage loans, remote deposit capture, and more. For more information, visit SouthAtlantic.bank.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates Open, Transparent and Connected financial markets 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 markets to inform investors of opportunities and risks: the OTCQX® Best Market; the OTCQB® Venture Market; and the OTC Pink® Open Market. 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 markets, 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.