U.S. Markets open in 3 hrs 59 mins

OTC Markets Group Convenes Bank CEOs To Discuss Future of Community Banking

Thought Leaders Examine Regulation, Access to Capital for Growth and Industry Consolidation

WASHINGTON, Oct. 31, 2018 /PRNewswire/ -- On October 10th, OTC Markets Group Inc. (OTCM), operator of financial markets for 10,000 U.S. and global securities, hosted a community bank roundtable, where industry executives from across the country gathered to discuss the role of the community bank in today's U.S. economy. Representatives from OTC Markets Group and American Banker, as well as the CEOs of four leading community banks trading on the OTCQX Market, discussed growth opportunities, industry challenges, access to capital, the importance of technology in their business, how to best serve the communities in which they operate, and how public policy and regulation are impacting the future of consumer and small business banking in America.

Roundtable participants included:

  • Jeff Dick, CEO, MainStreet Bancshares (OTCQX: MNSB) (Fairfax, VA)
  • Glenn Marshall, CEO, First Resource Bank (OTCQX: FRSB) (Exton, PA)
  • Glenn Rust, CEO, Virginia National Bankshares (OTCQX: VABK) (Charlottesville, VA)
  • Leonard Szwajkowski, CEO, Royal Financial Inc. (OTCQX: RYFL) (Chicago, IL)
  • Paul Davis, Editor of Community Banking and M&A, American Banker
  • John Reosti, Community Bank Reporter, American Banker
  • Laura Hamilton, AVP, Corporate Services, OTC Markets Group
  • Bob Power, VP, Corporate Services, OTC Markets Group

"Community banks are the lifeblood of local and regional economies. Many of these banks have reassessed the landscape since the Jobs Act, seizing new opportunities such as deregistration and raising capital through Regulation A+, and have blazed a new trail into the public markets with strong financials and demonstrated growth," explained Jason Paltrowitz, Executive Vice President of Corporate Services at OTC Markets Group. "The number of community banks that trade on OTC Markets has steadily increased with over 115 banks joining since we launched the OTCQX Banks Market in 2014. We continue to see traction in the number of community banks that have delisted from an exchange as well as those that have opted to go from private to public, utilizing our premium OTCQX Market. These banks share in a commitment to provide their investors with transparent disclosure and efficient trading -- achieving their goals of accessing liquidity and a significant cost savings they can return to shareholders," Paltrowitz said.

Community banks on the OTCQX Banks Index outperformed their exchange-listed peers on the SNL U.S. Banks Index by 47 percentage points since January 2015. OTCQX enables community banks to build shareholder value by providing a more efficient, cost-effective, and less burdensome market -- all without sacrificing visibility or liquidity.

"At American Banker, we speak with dozens of community bank executives weekly," said Paul Davis, Editor of Community Banking and M&A.  "The concerns we've been hearing for some time now include access to growth capital, bank consolidation and strategies for gaining competitive advantage. Maintaining an open dialogue with thought leaders, like those gathered here, allows us to report accurately on this dynamic industry."

About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCM) operates the OTCQX® Best Market, the OTCQB® Venture Market and the Pink® Open Market for 10,000 U.S. and global securities.  Through OTC Link® ATS and OTC Link ECN, we connect a diverse network of broker-dealers that provide liquidity and execution services.  We enable investors to easily trade through the broker of their choice and empower companies to improve the quality of information available for investors.

To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.

OTC Link ATS and OTC Link ECN are operated by OTC Link LLC, member FINRA/SIPC and SEC regulated ATS.

Subscribe to the OTC Markets RSS Feed

Media Contact:
OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com

OTC Markets Group logo. (PRNewsFoto/OTC Markets Group)

 

Cision

View original content to download multimedia:http://www.prnewswire.com/news-releases/otc-markets-group-convenes-bank-ceos-to-discuss-future-of-community-banking-300740259.html