BELOIT, Wis.--(BUSINESS WIRE)--Blackhawk Bancorp, Inc. (OTCQX: BHWB) announced that its common stock began trading today on OTCQX, the best marketplace for established global and growth companies operated by OTC Markets Group Inc. Prior to this, the company’s shares traded on the OTCQB venture marketplace. The Company’s ticker symbol “BHWB” remains the same.
OTCQX for banks is an expansion of the OTCQX marketplace that was created for strongly capitalized and well managed banks that have committed to provide higher level reporting and greater transparency. To qualify for OTCQX a bank must meet high financial standards, be current with its regulatory reporting and post quarterly results and report material events in a timely manner. These banks must also appoint a Corporate Broker, a FINRA member broker-dealer specializing in bank stocks, to serve as their OTCQX advisor. FIG Partners LLC, a nationally recognized firm specializing in banks, will serve as Blackhawk’s Corporate Broker on OTCQX.
“We are pleased that Blackhawk Bancorp was approved to trade on the OTCQX marketplace,” said Todd James, the Company’s Chief Financial Officer. “The increased visibility and transparency of the marketplace is expected to increase the liquidity of our shares and ultimately improve shareholder value. The transparency of the OTCQX marketplace is consistent with the corporate governance and reporting practices already being followed by Blackhawk,” he added.
U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on www.otcmarkets.com.
About Blackhawk Bancorp
Blackhawk Bancorp, Inc. is headquartered in Beloit, Wisconsin and is the parent company of Blackhawk Bank, which operates eight banking centers in south central Wisconsin and north central Illinois, along the I-90 corridor from Belvidere, Illinois to Janesville, Wisconsin. Blackhawk’s locations serve individuals and small businesses, primarily with fewer than 200 employees. The company offers a variety of value-added consultative services to small businesses and their employees related to its banking products such as health savings accounts and investment management.
Forward-Looking Statements
When used in this communication, the words “believes,” “expects,” and similar expressions are intended to identify forward-looking statements. The company’s actual results may differ materially from those described in the forward-looking statements. Factors which could cause such a variance to occur include, but are not limited to: heightened competition; adverse state and federal regulation; failure to obtain new or retain existing customers; ability to attract and retain key executives and personnel; changes in interest rates; unanticipated changes in industry trends; unanticipated changes in credit quality and risk factors, including general economic conditions; success in gaining regulatory approvals when required; changes in the Federal Reserve Board monetary policies; unexpected outcomes of new and existing litigation in which Blackhawk or its subsidiaries, officers, directors or employees is named defendants; technological changes; changes in accounting principles generally accepted in the United States; changes in assumptions or conditions affecting the application of “critical accounting policies”; and the inability of third party vendors to perform critical services for the company or its customers.
Further information is available on the Company’s website at www.blackhawkbank.com.