NEW YORK, Nov. 17, 2023 (GLOBE NEWSWIRE) -- OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for 12,000 U.S. and international securities, today announced Redwood Capital Bancorp (CA) (OTCQX: RWCB), a locally owned and operated community bank holding company for Redwood Capital Bank, has qualified to trade on the OTCQX® Best Market. Redwood Capital Bancorp upgraded to OTCQX from the OTCQB® Venture Market.
Redwood Capital Bancorp begins trading today on OTCQX under the symbol “RWCB.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
Graduating to the OTCQX Market marks an important milestone for community banks in the U.S. public markets. The OTCQX Market enables banks to maximize the value of being a public company by providing transparent trading and easy access to company information for shareholders. To qualify for OTCQX, community banks must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws.
“We are pleased to commence trading on the OTCQX Market and we look forward to the benefits that this transition will provide to our current shareholders and future shareholders. We believe that this transition will increase visibility, transparency and liquidity for RWCB shares, which is consistent with the long-term value of the company,” stated John E. Dalby, President and CEO.
JWTT Inc. acted as the company’s OTCQX sponsor.
About Redwood Capital Bancorp
Redwood Capital Bancorp is a locally owned and operated community bank holding company for Redwood Capital Bank. In March of 2004, Redwood Capital Bank opened its doors as Humboldt Countys local choice for community banking. Headquartered in Eureka California, Redwood Capital Bank has two branches in Eureka, one in Fortuna and one in Arcata, California. Redwood Capital Bank continues to address the needs of small businesses, individuals and families in Humboldt County. From checking and savings accounts, to real estate loans and home equity lines of credit, we offer the same types of products the big banks offer, but with hometown, personal service. We are passionate about serving our local community and we pride ourselves on providing our customers with the best in customer service. Redwood Capita Bank offers a complete range of commercial loan products from starting a business, expansion, equipment purchases and more. Redwood Capital Bank is proud to be a Preferred SBA Lender. With shareholder value and community service as core values, the Company's strong performance and financial position continues to increase our ability to serve all of our stakeholders. Taking care of our shareholders and customers is paramount to how we do business every day. We are proud to be Humboldt County's local, community bank of choice.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX® Best Market, OTCQB® Venture Market and Pink® Open Market.
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