NEW YORK, June 16, 2025 (GLOBE NEWSWIRE) -- OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced Southpoint Bancshares Inc. (OTCQX: SOUB), which operates primarily in the domestic commercial banking industry, has qualified to trade on the OTCQX® Best Market. Southpoint Bancshares Inc. upgraded to OTCQX from the Pink® market.
Southpoint Bancshares Inc. begins trading today on OTCQX under the symbol "SOUB." U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
The OTCQX Market provides investors with a premium U.S. public market to research and trade the shares of investor-focused companies. Graduating to the OTCQX Market marks an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among U.S. investors. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws.
"Graduating to the OTCQX Best Market marks a significant milestone for SouthPoint Bank and reflects our unwavering commitment to transparency, sound governance, and long-term value creation. This move enhances our visibility among investors and positions us for the next phase of strategic growth. As we continue to expand our footprint across Alabama and the Southeast, we remain focused on investing in technology, deepening customer relationships, and supporting the communities we serve. We believe this upgrade will help us attract new capital, broaden our shareholder base, and accelerate our mission of delivering exceptional banking solutions," said Steve Smith - Chairman, President and CEO of SouthPoint Bank.
About Southpoint Bancshares Inc.
SouthPoint Bancshares, Inc. (the Company), an Alabama corporation, operates primarily in the domestic commercial banking industry. The Company's subsidiary, SouthPoint Bank (the Bank), was formed and incorporated in 2005 as a state-chartered bank under the Code of Alabama 1975, as amended. In January 2022, the Company also acquired Merchants Bank of Alabama, founded in 1907 and based in Cullman, Alabama, now a division of SouthPoint Bank. The Bank and its division provide full-service banking to customers primarily located in central and northern Alabama. The Bank is subject to regulation by the State of Alabama Banking Department and the Federal Deposit Insurance Corporation (FDIC). The Bank operates from its eleven branch locations in and around Birmingham, Alabama and Cullman, Alabama, and three loan production offices located throughout the State of Alabama. SPB Properties, LLC holds certain assets of the Bank and is a wholly owned subsidiary of the Bank.
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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