NEW YORK, June 16, 2014 /PRNewswire/ -- OTC Markets Group Inc. (OTCQX: OTCM), operator of Open, Transparent and Connected financial marketplaces, today announced that Coastal Banking Company, Inc. (OTCQX: CBCO), a bank holding company, has been approved to trade on OTCQX®, the best marketplace with qualified companies.
Coastal Banking Company begins trading today on OTCQX under the symbol "CBCO." U.S. investors can find current financial disclosures and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
"We are pleased to welcome Coastal Banking Company, our ninth bank to join the OTCQX marketplace," said R. Cromwell Coulson, President and CEO of OTC Markets Group. "Trading on OTCQX distinguishes Coastal Banking Company as a shareholder-friendly bank that is strongly-capitalized and well-managed. We look forward to working with Coastal Banking and its Corporate Broker FIG Partners to build a robust public trading market for U.S. community and regional banks and their shareholders."
"Coastal Banking Company remains committed to providing the investment community with timely, meaningful financial and operating information," said Paul Garrigues, Executive Vice President and Chief Financial Officer of Coastal Banking Company. "Upgrading our common stock to OTCQX demonstrates this commitment to provide high quality disclosures to current and future shareholders."
FIG Partners LLC serves as Coastal Banking Company's Corporate Broker on OTCQX.
Coastal Banking Company is a bank holding company headquartered in Beaufort, South Carolina organized to own all of the common stock of its subsidiary, CBC National Bank. The principal activity of the bank is to provide banking services in its domestic markets of Beaufort County, South Carolina and Nassau County, Florida, and to operate a small business lending division in the Southeastern U.S. and a national residential mortgage banking division.
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 better inform investors of opportunities and risks – OTCQX®, The Best Marketplace; OTCQB®, The Venture Stage Marketplace; and OTC Pink®, The 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.
SOURCE OTC Markets Group Inc.