First Security Inc. Announces Upgrade to the OTCQX Market

First Security Inc. Announces Upgrade to the OTCQX Market

  • Posted: 07/21/2016
  • Castle Creek

First Security Inc. (FIIT), the bank holding company for First Security Bank, Inc., announced that the Company has upgraded to the OTCQX market from the Pink market effective July 21, 2016.

OTCQX is designed for investor-focused companies, and ensures that investors and brokers have the information necessary to intelligently analyze, value, and trade their securities.

Trading on OTCQX will provide an efficient trading market for current shareholders, and increase visibility to expand the investor base. Companies must meet high financial standards, demonstrate compliance with U.S. securities laws, be current in their disclosures, and be sponsored by a professional third-party advisor to qualify for OTCQX. The investment firm Raymond James & Associates will become a market maker in the stock and begin quoting a market in First Security, Inc. shares.

An independent study of companies that have moved to OTCQX in the past three years noted the following improvements:

1. Trading volume by number of shares increased by 53% on average

2. Dollar volumes increased similarly by 57%

3. Bid-ask spreads narrowed by 4% on average

4. The number of broker-dealers per security rose on average by 16%

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