On June the 15th, Virginia Partners Bank announced that their common stock was now trading on the OTC Market exchange under the symbol “PTRS”. President and CEO, Lloyd B. Harrison, believes the move will help the company and shareholders equally. He stated, “This will provide our shareholders with greater liquidity, open up our stock to a broader audience, and increase the visibility of our company.” Simultaneously, the CEO confirms the move was a part of the bank’s strategy to prepare for future growth.
Virginia Partners Bank was founded in 2008. Since then, the bank has accumulated $372 million in assets. At this point in time, Virginia Partners Bank operates three branches in Fredericksburg, Virginia. They’ve also taken steps to expand into the State of Maryland under the name “Maryland Partners Bank”. The company opened their first full-service branch in La Plata, Maryland in 2015. They followed up in January of 2017 with the establishment of a Loan Production Office in Annapolis.
The bank also announced that FIG Partners LLC, a banking industry specialist, has agreed to offer market making services to all shareholders. The employee-owned broker/dealer specializes in financial institutions. At this point in time, the firm is OTC market-makers for approximately 750 banks throughout the nation. Additional details can be found here.