NEW YORK, May 1, 2017 /PRNewswire/ -- OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for 10,000 U.S. and global securities, today announced Private Bancorp of America, Inc. (OTCQX: PBAM), the holding company for San Diego Private Bank, has qualified to trade on the OTCQX® Best Market. Private Bancorp of America upgraded to OTCQX from the OTCQB® Venture Market.
Private Bancorp begins trading today on OTCQX under the symbol "PBAM." U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
"We congratulate and are pleased to welcome Private Bancorp to the growing family of banks on OTCQX," said Jason Paltrowitz, Executive Vice President of Corporate Services at OTC Markets Group. "OTCQX provides banks an efficient, cost-effective public market to increase their visibility with shareholders through transparent trading, peer benchmarking and dedicated capital market support. We look forward to supporting Private Bancorp as it continues to grow."
"We are pleased to be a part of OTCQX," said Thomas V. Wornham, President and CEO of Private Bancorp of America, Inc. "With total assets over $500 million and market capitalization over $100 million, we are excited to continue our growth trajectory on the OTCQX market. We believe the additional exposure, accessibility and liquidity that OTCQX provides will benefit investors and company as we continue to grow."
Private Bancorp was sponsored for OTCQX by D.A. Davidson & Co., a qualified 3rd party firm responsible for providing guidance on OTCQX requirements and recommending membership.
Private Bancorp of America is the holding company for San Diego Private Bank. San Diego Private Bank provides a distinctly different banking experience through unparalleled service and creative funding solutions to high-net-worth individuals, professionals, locally-owned businesses and real estate entrepreneurs. Clients are serviced by experienced personal bankers through offices in Coronado, San Diego, La Jolla, Beverly Hills and Newport Beach, as well as efficient electronic banking offerings. The Bank also offers various portfolio and government guaranteed lending programs, including SBA and cross-border Export-Import Bank programs. San Diego Private Bank is an SBA Preferred Lender and provides a full array of sophisticated treasury management and deposit products.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: 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, 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 is operated by OTC Link LLC, member FINRA/SIPC and SEC regulated ATS.
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SOURCE OTC Markets Group Inc.