OTC Markets Group Welcomes Southpoint Bancshares Inc. to OTCQX

Rhea-AI Summary

OTC Markets Group announced that Southpoint Bancshares Inc. (SOUB) has qualified to trade on the OTCQX Best Market, upgrading from the Pink market. The company, operating in commercial banking, began trading under the symbol SOUB on June 16, 2025. The OTCQX Market provides a premium U.S. public trading platform for qualified companies meeting high financial standards, corporate governance requirements, and securities law compliance. Steve Smith, Chairman, President and CEO of SouthPoint Bank, emphasized that this upgrade reflects their commitment to transparency and positions them for strategic growth across Alabama and the Southeast, with focus on technology investment and community support.

Positive

• Upgrade to OTCQX Best Market from Pink market indicates higher financial standards and corporate governance
• Enhanced visibility and access to U.S. investors through premium trading platform
• Strategic expansion plans across Alabama and Southeast regions
• Focus on technology investment and growth initiatives

Negative

• None.

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.

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^TM are each an 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.

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Media Contact:
OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com

FAQ

What does Southpoint Bancshares' (SOUB) upgrade to OTCQX Best Market mean?

The upgrade indicates that SOUB meets higher financial standards, follows best practice corporate governance, and complies with securities laws, providing enhanced visibility and access to U.S. investors.

When did Southpoint Bancshares (SOUB) begin trading on OTCQX?

Southpoint Bancshares began trading on the OTCQX Best Market on June 16, 2025, under the symbol SOUB.

What are Southpoint Bancshares' (SOUB) growth plans after OTCQX upgrade?

The company plans to expand across Alabama and the Southeast, focusing on technology investment, deepening customer relationships, and supporting local communities.

What requirements did Southpoint Bancshares (SOUB) meet for OTCQX qualification?

SOUB had to meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws.

How will trading on OTCQX benefit Southpoint Bancshares (SOUB)?

The upgrade will help attract new capital, broaden shareholder base, increase visibility among U.S. investors, and support strategic growth initiatives.