FAIRFAX, Va.--(BUSINESS WIRE)--The Freedom Bank of Virginia (OTCQX: FDVA) is pleased to announce it has been named to the 2016 OTCQX® Best 50, a ranking of top performing companies traded on the OTCQX Best Market last year. This marks the second year that Freedom Bank has received this recognition, having ranked on the inaugural OTCQX Best 50 in 2015.
The OTCQX Best 50 is an annual ranking of the top 50 U.S. and international companies traded on the OTCQX market. The ranking is calculated based on an equal weighting of one-year total return and average daily dollar volume growth in the previous calendar year. Companies in the 2016 OTCQX Best 50 were ranked based on their performance in 2015.
CEO Craig Underhill indicated, “We moved to the OTCQX to get more recognition for our stock and more liquidity for our shareholders. We are honored to have been included in this prestigious group of companies for a second year. The Bank is pleased to have moved up from 50 last year to 29 this year. We believe it shows that our move to the OTCQX is helping to generate liquidity for our stockholders.”
For the complete 2016 OTCQX Best 50 ranking, visit http://www.otcmarkets.com/content/doc/2016-OTCQX-Best-50.pdf.
The OTCQX Best Market offers the best informed and most efficient trading for established, investor-focused U.S. and international companies. To qualify for OTCQX, companies must meet high financial standards, demonstrate compliance with U.S. securities laws, be current in their disclosure and be sponsored by a professional third-party advisor. OTCQX companies are distinguished by the excellence of their operations and diligence with which they convey their qualifications.
Freedom Bank is a community-oriented bank with locations in Fairfax, Reston and Vienna, Virginia. For information about Freedom Bank’s deposit and loan services, visit the Bank’s website at www.freedombankva.com.
This release contains forward-looking statements, including our expectations with respect to future events that are subject to various risks and uncertainties. Factors that could cause actual results to differ materially from management's projections, forecasts, estimates and expectations include: fluctuation in market rates of interest and loan and deposit pricing, adverse changes in the overall national economy as well as adverse economic conditions in our specific market areas, maintenance and development of well-established and valued client relationships and referral source relationships, and acquisition or loss of key production personnel. Other risks that can affect the Bank are detailed from time to time in our quarterly and annual reports filed with the Federal Financial Institutions Examination Council. We caution readers that the list of factors above is not exclusive. The forward-looking statements are made as of the date of this release, and we may not undertake steps to update the forward-looking statements to reflect the impact of any circumstances or events that arise after the date the forward-looking statements are made. In addition, our past results of operations are not necessarily indicative of future performance.