OTC Markets Group Welcomes Glen Burnie Bancorp to OTCQX
Rhea-AI Summary
Glen Burnie Bancorp (OTCQX: GLBZ) qualified to trade on OTCQX after previously trading on Nasdaq and began trading under the symbol GLBZ. The company announced its intention to voluntarily delist from Nasdaq and voluntarily deregister with the U.S. Securities and Exchange Commission to terminate its reporting obligations under the Exchange Act.
Management said the move aims to reduce regulatory burden and compliance costs, reallocate resources to clients and communities, and provide continued liquidity for stockholders via OTCQX trading. Raymond James acted as the company’s OTCQX corporate broker.
Positive
- Transition to OTCQX intended to lower regulatory and compliance costs
- Continued public trading under the symbol GLBZ on OTCQX
- Engaged Raymond James as OTCQX corporate broker to assist liquidity
Negative
- Voluntary delisting and SEC deregistration will end Exchange Act reporting
- Potential reduction in visibility and analyst coverage after leaving Nasdaq
News Market Reaction – OTCM
In the Dec 23 session, OTCM declined 2.37%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
NEW YORK, Dec. 23, 2025 (GLOBE NEWSWIRE) -- OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced Glen Burnie Bancorp (“Bancorp”) (OTCQX: GLBZ), the holding company for The Bank of Glen Burnie (the “Bank”), has qualified to trade on the OTCQX® Best Market. Glen Burnie Bancorp previously traded on Nasdaq.
Glen Burnie Bancorp begins trading today on OTCQX under the symbol “GLBZ.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
The OTCQX Market enables U.S. regional and community banks to lower the cost and complexity of being a public company. Through streamlined market standards tailored for banks, OTCQX provides transparent trading, visibility, and easy access to company information for stockholders. 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 excited to join the more than one hundred investor-focused banks currently trading on OTCQX, the highest level market of OTC markets. We are confident that this platform will enable us to continue providing our stockholders with both transparency and efficient trading. This change allows our management team to reduce the regulatory burden and compliance costs while reallocating resources to better serve the needs of our clients and communities,” said Mark C. Hanna, President and CEO. “We anticipate significant cost savings and efficiencies resulting from Bancorp’s U.S. Securities and Exchange Commission (“SEC”) deregistration and delisting from Nasdaq.”
On December 12, 2025, Bancorp announced its intention to voluntarily delist Bancorp’s common stock (and related common stock purchase rights) from Nasdaq and its intention to subsequently voluntarily deregister its common stock with the SEC, in order to terminate and suspend its reporting obligations under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Bancorp based its decision to delist and deregister from Nasdaq on Bancorp’s intention to provide liquidity to its stockholders following the delisting by having its common stock traded on the OTCQX.
Raymond James & Associates, Inc. acted as the company’s OTCQX corporate broker.
About Glen Burnie Bancorp
Glen Burnie Bancorp (the “Company”) is a bank holding company organized in 1990 under the laws of the State of Maryland. The Company owns all the outstanding shares of capital stock of The Bank of Glen Burnie (the “Bank”), a commercial bank organized in 1949 under the laws of the State of Maryland, serving northern Anne Arundel County and surrounding areas from its main office and branch in Glen Burnie, Maryland, and branch offices in Odenton, Riviera Beach, Crownsville, and two locations in Severn, Maryland. It is the oldest independent commercial bank in Anne Arundel County. The Bank is engaged in the commercial and retail banking business as authorized by the banking statutes of the State of Maryland, including the acceptance of demand and time deposits and the origination of loans to individuals, associations, partnerships, and corporations.
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 public markets: OTCQX® Best Market, OTCQB® Venture Market, OTCID™ Basic Market and Pink Limited™ Market. Our OTC Link® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets.
OTC Link ATS, OTC Link ECN, OTC Link NQB, and MOON ATS™ are each SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC-registered broker-dealer, member SIPC. To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.
Media Contact:
OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com
