CAMBRIDGE, Mass.--(BUSINESS WIRE)--Cambridge Bancorp (OTCQB: CATC) (the “Company”), the parent of Cambridge Trust Company, announced today that it has filed an application to list its common stock on the NASDAQ Capital Market.
“Today, we have applied to be listed on the NASDAQ Capital Market,” noted Denis K. Sheahan, President and CEO. “For many years, we have been publicly quoted on the Over the Counter (OTC) market. In filing to join the NASDAQ exchange, we aim to give the Company greater access to the capital markets, improved visibility among investors and increased liquidity for our shareholders. We believe that having our shares trade on a national exchange will, over time, help with these efforts.”
In connection with the NASDAQ application, the Company has filed a Registration Statement on Form 10 with the U.S. Securities and Exchange Commission (the “SEC”) to register its common stock, par value $1.00 per share, under the Securities Exchange Act of 1934, as amended (the “1934 Act”). The Form 10 filing provides information on the strategy and historical financial data of the Company and Cambridge Trust Company and will be updated with additional information in subsequent amendments in conjunction with the regular SEC review process. Upon the effectiveness of the Registration Statement on Form 10, the Company will be subject to the reporting requirements of the 1934 Act and, as a result, will file periodic reports and other information with the SEC.
About Cambridge Bancorp
Cambridge Bancorp, the parent company of Cambridge Trust Company, is based in Cambridge, Massachusetts, in the heart of Harvard Square and has assets of $1.9 billion. Cambridge Trust Company is a 127-year-old Massachusetts chartered commercial bank with 11 Massachusetts locations in Cambridge, Boston, Belmont, Concord, Lexington and Weston. Cambridge Trust Company is one of New England’s leaders in wealth management with $2.8 billion in client assets under management. The Wealth Management group maintains offices in Boston, Massachusetts and Concord, Manchester, and Portsmouth, New Hampshire.
Certain statements herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 (“PSLRA”). These statements are intended to take advantage of the “safe harbor” provisions of the PSLRA. These statements are based on the beliefs and assumptions of management of the Company and its subsidiaries and on the information available to management at the time that these statements were made. Since these statements reflect the views of management concerning future events, these statements involve risks, uncertainties and assumptions. As a result, actual results may differ from those contemplated by these statements. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. Such statements may be identified by the use of words such as “believe,” “expect,” “anticipate,” “forecast”, “estimate,” “intend”, “will,” “would,” “should,” “could”, “may” or similar words. There are a number of factors, many of which are beyond the Company’s control, that could cause actual conditions, events or results to differ materially from those in the forward-looking statements. Factors that may cause actual results to differ materially from those contemplated by such forward-looking statements include, among others, changes in the interest rate environment, unfavorable or less than favorable changes in general economic conditions (nationally or regionally), our ability to continue to increase loans and deposit growth, increased competitive pressures among depository and other financial institutions, legislative and regulatory changes that adversely affect the businesses in which the Company is engaged, changes in the securities market, and other factors that are described in the Company’s annual report. Readers should not place undue reliance on these forward-looking statements, which speak only as of the date of the date they are made. The Company disclaims any intent or obligation to update any forward-looking statements, whether in response to new information, future events or otherwise, except as may be required by law.
This press release is not an offer to sell and is not soliciting an offer to buy any securities, nor shall there be any offer or sale of any securities in any jurisdiction where the offer or sale is not permitted.