White River Bancshares Co., the holding company for Fayetteville-based Signature Bank of Arkansas, announced the company will begin trading on the OTCQX Best Market under the symbol “WRIV”.
The public market trades shares for more than 10,000 U.S. and global securities. White River Bancshares has previously been privately held.
“We’re happy to trade on the OTCQX Market to help tell our story and provide White River Bancshares Company shareholders and prospective investors with a streamlined stock buy-sell-trade process. The decision to move WRIV stock to OTCQX, a premium public market, perfectly aligns with our Board’s 2018 directive and Management’s commitment to improving liquidity and to increased franchise value,” said Greg Lee, board chairman for White River Bancshares.
White River Bancshares Co. said it was sponsored for OTCQX by Raymond James & Associates Inc., a qualified third-party firm responsible for providing guidance on OTCQX requirements and recommending membership.
“With a 12-year history as a private community bank, trading on the OTCQX Best Market will provide White River Bancshares’s new and existing shareholders with a public market for efficient trading and price transparency. We are pleased to welcome White River Bancshares as the first community bank from Arkansas to join OTCQX Best Market,” said Jason Paltrowitz, executive vice president for the OTC Markets Group.
Signature Bank has roughly $600 million in assets with banking operations in Fayetteville, Springdale, Bentonville and Brinkley. The company will soon open a new location in Rogers.
The community bank was founded in 2005.