CNB Bank Shares, a full-service bank with customers throughout south-central Illinois, has qualified to trade on the OTCQX Best Market.
The company began over-the-counter trading Tuesday under the symbol "CNBN."
OTC Markets Group Inc., an operator of financial markets for 10,000 U.S. and global securities, made the announcement. The bank, which is based in Carlinville and has large operation in Alton, was previously privately-held.
"CNB Bank Shares joins more than 80 community and regional banks that choose to trade on our OTCQX Best Market," said Jason Paltrowitz, executive vice president of corporate services at OTC Markets Group. "OTCQX offers banks a transparent public market alternative to a U.S. stock exchange listing, creating efficiencies for management teams by reducing costs and duplicative compliance requirements. We look forward to supporting the company as it builds long-term shareholder value."
"We are excited to make the transition to OTCQX. The additional liquidity and visibility should be a significant benefit to our shareholders," said Jim Ashworth, president of CNB Bank Shares Inc.
CNB Bank Shares was sponsored for OTCQX by Keefe Bruyette & Woods Inc., a third-party firm responsible for providing guidance on OTCQX requirements and recommending membership.
U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
About CNB Bank Shares
CNB Bank Shares Inc. provides a full range of banking services to individual and corporate customers throughout south-central Illinois, suburban southwestern Chicago, and the St. Louis metropolitan area. The original institution was founded in Carlinville in 1888, expanding through four previous whole-bank acquisitions over the past 22 years, including one bank that was established in 1854.