NEW YORK, Dec. 28, 2015 /PRNewswire/ -- OTC Markets Group Inc. (OTCQX: OTCM), operator of Open, Transparent and Connected financial markets, today announced First Federal of Northern Michigan Bancorp, Inc. (or "FFNM Bancorp") (OTCQX: FFNM), the holding company of First Federal of Northern Michigan in Alpena, Michigan, has qualified to trade on the OTCQX® Best Market. FFNM Bancorp previously traded on the NASDAQ Stock Market.
FFNM Bancorp begins trading today on OTCQX under its existing stock symbol "FFNM." 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 FFNM Bancorp to our growing community of banks on the OTCQX market," said Jason Paltrowitz, Executive Vice President of Corporate Services at OTC Markets Group. "OTCQX provides an efficient, transparent and cost-effective alternative to a U.S. stock exchange listing for financial institutions that are committed to providing a shareholder-friendly trading experience for their investors."
Michael Mahler, CEO of First Federal of Northern Michigan Bancorp, said, "FFNM Bancorp is proud to be part of OTCQX. We believe the OTCQX market, as OTC Markets Group's most robust and prestigious marketplace, will provide our shareholders and potential investors with great transparency, continued robust financial reporting, broad distribution of information, and excellent exposure for our shares, which is expected to continue to promote strong share liquidity. The requirements for banks to be traded on OTCQX help to highlight those banks seeking to perform at the highest levels and will enhance shareholder value."
Raymond James & Associates, Inc. serves as FFNM Bancorp's Corporate Broker on OTCQX.
FFNM Bancorp is the holding company of First Federal of Northern Michigan (the "Bank"), a federally chartered savings bank headquartered in Alpena, Michigan. First Federal has eight full-service offices located in Northern Michigan—in Alpena, the main office on Second Avenue, and a branch office on Ripley Boulevard, Alanson, Cheboygan, Gaylord, Lewiston, Mio, and Oscoda. With the recent addition of two new commercial lenders, the Bank is in the process of opening a new loan production office in West Branch, Michigan, as well.
About OTC Markets Group
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.
Saskia Sidenfaden, OTC Markets Group Inc., +1 (212) 896-4428, firstname.lastname@example.org
SOURCE OTC Markets Group Inc.