NEW YORK, July 1, 2020 /PRNewswire/ -- OTC
Markets Group Inc. (OTCQX: OTCM), operator of financial
markets for 10,000 U.S. and global securities, today announced
Ottawa Bancorp, Inc. (OTCQX: OTTW), the holding company for
Ottawa Savings Bank, has qualified to trade on the OTCQX® Best
Market. Ottawa Bancorp, Inc. previously traded on NASDAQ.
Ottawa Bancorp, Inc. begins trading today on OTCQX under the
symbol "OTTW." U.S. investors can find current financial
disclosure and Real-Time Level 2 quotes for the company on
www.otcmarkets.com.
As previously announced by Ottawa Bancorp, Inc.: "As a bank
holding company, the Company is eligible to deregister with the SEC
because it has fewer than 1,200 shareholders of record. The
decision of the Company's board of directors to delist and
deregister its common stock was based on numerous factors,
including the significant cost savings of no longer filing periodic
reports with the SEC plus reductions in accounting, audit, legal
and other costs."
The OTCQX Market enables U.S. regional and community banks to
lower the cost and complexity of being a public company. Through
streamlined market standards tailored for banks, OTCQX provides
transparent trading, visibility and easy access to company
information for shareholders. To qualify for OTCQX, community banks
must meet high financial standards, follow best practice corporate
governance, and demonstrate compliance with applicable securities
laws.
Ottawa Bancorp, Inc. President Craig
Hepner said, "We are very pleased that today, Ottawa joins more than 400 other
investor-focused companies that trade on the OTCQX Best Market. We
are excited to be able to provide the Company with liquidity and
visibility by trading on this market, all while also achieving
important operational efficiencies. We are also pleased that OTCQX-
traded companies are required to adhere to reporting compliance and
corporate governance standards and best practices that are
important to Ottawa and its
shareholders."
About Ottawa Bancorp, Inc.
Ottawa Bancorp, Inc. is the
holding company for Ottawa Savings Bank, FSB which provides various
financial services to individual and corporate customers in
the United States. The Bank offers
various deposit accounts, including checking, money market, regular
savings, club savings, certificates of deposit, and various
retirement accounts. Its loan portfolio includes one-to-four family
residential mortgage, multi-family and non-residential real estate,
commercial, and construction loans as well as auto loans and home
equity lines of credit. Ottawa Savings Bank, FSB was founded in
1871 and is headquartered in Ottawa,
Illinois. For more information about the Company and the
Bank, please visit www.ottawasavings.com.
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 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 SEC regulated ATSs, operated
by OTC Link LLC, member FINRA/SIPC.
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Media Contact:
OTC Markets Group Inc., +1 (212)
896-4428, media@otcmarkets.com
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SOURCE OTC Markets Group Inc.