OTC Markets Group Welcomes Orange County Bancorp, Inc. to OTCQX
NEW YORK – January 22, 2019 – OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for 10,000 U.S. and global securities, today announced Orange County Bancorp, Inc. (OTCQX: OCBI), a bank holding company, has qualified to trade on the OTCQX® Best Market. Orange County Bancorp upgraded to OTCQX from the Pink® market.
Orange County Bancorp, Inc. begins trading today on OTCQX under the symbol “OCBI.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
"We are pleased to welcome Orange County Bancorp as the first community bank to join our OTCQX Best Market, in 2019," said Jason Paltrowitz, Director of OTC Markets Group International Ltd. and EVP of Corporate Services at OTC Markets Group. "Following successful completion of a $16-million equity private placement, Orange County Bancorp’s upgrade to the OTCQX Best Market will provide new and existing shareholders a public market for more efficient trading and price transparency."
“Our move to the OTCQX exchange is a natural progression for us given the growth we have enjoyed over the past several years,” said Michael Gilfeather, President and CEO at Orange County Bancorp, Inc. “The OTCQX positions us better relative to our peer group, provides the potential of greater liquidity for our shareholders, and offers additional opportunities to share the OCBI story and investment thesis. We look forward to a mutually beneficial association.”
Orange County Bancorp was sponsored for OTCQX by Sandler O'Neill + Partners, a qualified third-party firm responsible for providing guidance on OTCQX requirements and recommending membership.