ANCHORAGE, Alaska--(BUSINESS WIRE)--First National Bank Alaska shares (OTCQX: FBAK) began trading today on OTC Markets Group’s the OTCQX® Best Market. OTC Markets Group operates financial markets for 10,000 U.S. and global securities. The bank qualified to trade on the OTCQX Market and upgraded from the Pink® market.
First National is the first Alaska bank on OTCQX. Companies on the OTCQX Market meet high financial standards, follow best practice corporate governance, demonstrate compliance with U.S. securities laws, and have a professional third-party sponsor introduction.
“For nearly 100 years, our Alaskan-owned and -operated bank has earned sustained success by providing high quality banking services to friends and neighbors, to their businesses, and to their employees,” said Betsy Lawer, First National Board Chair and CEO.
“We think that’s a story worth telling on a national stage. By joining the OTCQX Best Market on Alaska Day, October 18, it is our intent to generate broader recognition by investors and highlight First National’s long-term commitment to the Great Land. By doing so, we expect to enhance share value to all shareholders.”
First National trades on OTCQX under the symbol “FBAK.” U.S. investors can find current financial disclosures and Real-Time Level 2 quotes for the bank at www.otcmarkets.com.
“We are pleased to welcome First National Bank Alaska to the OTCQX Best Market,” said Jason Paltrowitz, Executive Vice President of OTC Market Group’s Corporate Services. “The bank will trade alongside other investor-focused community banks, distinguished by the integrity of their operations.”
First National was sponsored for OTCQX by Raymond James & Associates, Inc., a qualified third-party firm responsible for providing guidance on OTCQX requirements and recommending membership.
Alaskan-owned and -operated since 1922, First National proudly meets the financial needs of Alaskans with ATMs and branches in 18 communities throughout the state. This year Alaska Business readers voted the bank the “Best of Alaska Business” in the Best Place to Work category for the third year in a row and as best Corporate Citizen for the second. Also in 2018, Microsoft News named First National the most admired company in the state and American Banker chose First National as a “Best Bank to Work For.”