OTC Markets Group Welcomes TC Bancshares, Inc. to OTCQX

Rhea-AI Summary

OTC Markets Group Inc. (OTCQX: OTCM) has announced that TC Bancshares, Inc. (OTCQX: TCBC), the holding company for TC Federal Bank, has qualified to trade on the OTCQX® Best Market. TC Bancshares previously traded on NASDAQ and began trading on OTCQX on August 2, 2024, under the symbol 'TCBC'. The OTCQX Market allows U.S. regional and community banks to reduce costs and complexity associated with being a public company through streamlined market standards.

To qualify for OTCQX, banks must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with securities laws. Greg Eiford, CEO of TC Bancshares, expressed enthusiasm about the move, stating that the board believes the transition to OTCQX will benefit both the company and its shareholders.

Positive

• Transition to OTCQX market may reduce costs and complexity for TC Bancshares
• OTCQX provides transparent trading and easy access to company information for shareholders
• TC Bancshares meets high financial standards and best practice corporate governance required for OTCQX

Negative

• Delisting from NASDAQ may reduce visibility and liquidity for TC Bancshares stock

NEW YORK, Aug. 02, 2024 (GLOBE NEWSWIRE) -- OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced TC Bancshares, Inc. (OTCQX: TCBC), the holding company for TC Federal Bank, has qualified to trade on the OTCQX® Best Market. TC Bancshares, Inc. previously traded on NASDAQ.

TC Bancshares, Inc. begins trading today on OTCQX under the symbol “TCBC.” 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 shareholders. To qualify for OTCQX, community banks must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws.

Greg Eiford, the Chief Executive Officer of TC Bancshares, Inc., commented, “We are excited about our move to OTC Markets Group. Our Board of Directors, after thoughtful consideration, fully believes that the efficiencies that will be gained from transitioning to trading on the OTCQX Market is in the best interest of our company and our shareholders.”

About TC Bancshares, Inc.
TC Bancshares, Inc. was formed in July 2021 and serves as the holding company for TC Federal Bank. TC Federal Bank was established in Thomasville, Georgia in 1934. What began as a Savings & Loan by the citizens of Thomas County during the Great Depression, has grown into a $480 million dollar community bank serving the financial needs of families and businesses in Northern Florida and Southern Georgia. TC Federal Bank is built on a long-standing Tradition of Trust and offers expertise in personal and business banking, as well as real estate lending. Throughout its history, TC Federal Bank has stayed open and committed to serving the community through a variety of economic cycles. Today, they are proud to be home to some of the best bankers in the area. Through premium customer service and enriched customer relationships, TC Federal Bank is the bank you can trust for a lifetime. For more information on TC Federal Bank, visit www.tcfederal.com.

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 and OTC Link NQB 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

When did TC Bancshares (TCBC) start trading on the OTCQX market?

TC Bancshares (TCBC) began trading on the OTCQX market on August 2, 2024.

What stock exchange did TC Bancshares (TCBC) previously trade on before moving to OTCQX?

TC Bancshares (TCBC) previously traded on NASDAQ before transitioning to the OTCQX market.

What are the benefits for TC Bancshares (TCBC) in moving to the OTCQX market?

The move to OTCQX allows TC Bancshares to lower the cost and complexity of being a public company while maintaining transparent trading and easy access to company information for shareholders.

What requirements did TC Bancshares (TCBC) need to meet to qualify for the OTCQX market?

To qualify for OTCQX, TC Bancshares had to meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws.