Empire Bancorp: Move to new OTC market will give its shares more visibility
Douglas C. Manditch, chairman and CEO of Islandia-based Empire Bancorp. Credit: Jeffrey Basinger
Islandia-based Empire Bancorp on Wednesday said its stock has started trading on the OTCQX Best Market, under the ticker symbol EMPK.
The shift to the over-the-counter financial market gives the bank more visibility, said Douglas C. Manditch, the bank's chairman and chief executive officer.
"It's a more established market than where we had been," Manditch said. "We expect that the added visibility will help us gain more institutional and retail investors."
Empire had been trading on the OTCQB Venture Market.
Empire Bancorp, the bank holding company for Empire National Bank, closed the fourth quarter of 2017 with about $900 million in assets. The bank has branches in Islandia, Shirley, Port Jefferson Station and Mineola. It also has a private banking office in Manhattan.
The bank's shares were priced at $15 in midday trading Tuesday, up 10 cents from their Monday close.
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