1895 Bancorp of Wisconsin, Inc. Announces Engagement of Keefe, Bruyette & Woods, Inc. to Explore Strategic Options and Voluntary Nasdaq Delisting and SEC Deregistration
1895 Bancorp of Wisconsin (BCOW), PyraMax Bank's holding company, announced two significant developments: the engagement of Keefe, Bruyette & Woods (KBW) as financial advisor to explore strategic alternatives, and plans to voluntarily delist from Nasdaq and deregister with the SEC.
The strategic review with KBW could include consideration of a business combination or sale of control, though no timeline has been established. The company will delist from Nasdaq on March 7, 2025, with its last trading day on the same date. Trading is expected to continue on the OTCQX Market from March 10, 2025, maintaining the 'BCOW' symbol.
Following SEC deregistration on March 17, 2025, BCOW will no longer file periodic reports (10-K, 10-Q, 8-K) but will continue providing annual audited financial statements and quarterly information on its website. The bank will maintain FDIC quarterly Call Report filings.
1895 Bancorp of Wisconsin (BCOW), la holding di PyraMax Bank, ha annunciato due sviluppi significativi: l'ingaggio di Keefe, Bruyette & Woods (KBW) come consulente finanziario per esplorare alternative strategiche e la decisione di delistarsi volontariamente da Nasdaq e di deregistrarsi presso la SEC.
La revisione strategica con KBW potrebbe includere la considerazione di una combinazione aziendale o la vendita del controllo, anche se non è stato stabilito alcun termine. L'azienda si delisterà da Nasdaq il 7 marzo 2025, con l'ultimo giorno di negoziazione nella stessa data. Si prevede che il trading continui sul mercato OTCQX dal 10 marzo 2025, mantenendo il simbolo 'BCOW'.
Dopo la deregistrazione dalla SEC il 17 marzo 2025, BCOW non presenterà più rapporti periodici (10-K, 10-Q, 8-K), ma continuerà a fornire relazioni finanziarie annuali verificate e informazioni trimestrali sul suo sito web. La banca manterrà le dichiarazioni trimestrali del Call Report FDIC.
1895 Bancorp of Wisconsin (BCOW), la empresa matriz de PyraMax Bank, anunció dos desarrollos significativos: la contratación de Keefe, Bruyette & Woods (KBW) como asesor financiero para explorar alternativas estratégicas, y planes para deslistar voluntariamente de Nasdaq y deregistrarse con la SEC.
La revisión estratégica con KBW podría incluir la consideración de una combinación empresarial o la venta del control, aunque no se ha establecido un cronograma. La empresa se deslistará de Nasdaq el 7 de marzo de 2025, siendo su último día de negociación en esa misma fecha. Se espera que el comercio continúe en el mercado OTCQX a partir del 10 de marzo de 2025, manteniendo el símbolo 'BCOW'.
Tras la deregistración de la SEC el 17 de marzo de 2025, BCOW ya no presentará informes periódicos (10-K, 10-Q, 8-K), pero continuará proporcionando estados financieros auditados anuales e información trimestral en su sitio web. El banco mantendrá los informes trimestrales del Call Report de la FDIC.
1895 Bancorp of Wisconsin (BCOW), PyraMax Bank의 지주회사,가 두 가지 중요한 발전을 발표했습니다: 전략적 대안을 모색하기 위해 Keefe, Bruyette & Woods (KBW)를 재정 고문으로 임명한 것과 Nasdaq에서 자발적으로 상장 폐지하고 SEC에 등록 해지할 계획입니다.
KBW와의 전략적 검토에는 사업 결합 또는 지배권 매각에 대한 고려가 포함될 수 있지만, 일정은 정해지지 않았습니다. 회사는 2025년 3월 7일 Nasdaq에서 상장 폐지되며, 같은 날 마지막 거래가 이루어집니다. 2025년 3월 10일부터 OTCQX 시장에서 거래가 계속될 것으로 예상되며, 'BCOW' 기호를 유지합니다.
2025년 3월 17일 SEC 등록 해지 이후, BCOW는 더 이상 정기 보고서(10-K, 10-Q, 8-K)를 제출하지 않지만, 연간 감사 재무제표와 분기 정보를 웹사이트에 계속 제공할 것입니다. 은행은 FDIC 분기별 Call Report 제출을 유지할 것입니다.
1895 Bancorp of Wisconsin (BCOW), la société mère de PyraMax Bank, a annoncé deux développements significatifs : l'engagement de Keefe, Bruyette & Woods (KBW) en tant que conseiller financier pour explorer des alternatives stratégiques, et des plans pour se retirer volontairement de Nasdaq et se désinscrire de la SEC.
La révision stratégique avec KBW pourrait inclure la considération d'une combinaison d'entreprises ou la vente de contrôle, bien qu'aucun calendrier n'ait été établi. La société se retirera de Nasdaq le 7 mars 2025, avec son dernier jour de négociation à la même date. Les échanges devraient se poursuivre sur le marché OTCQX à partir du 10 mars 2025, en conservant le symbole 'BCOW'.
Après la désinscription de la SEC le 17 mars 2025, BCOW ne déposera plus de rapports périodiques (10-K, 10-Q, 8-K), mais continuera à fournir des états financiers annuels audités et des informations trimestrielles sur son site web. La banque continuera à soumettre des rapports trimestriels Call Report à la FDIC.
1895 Bancorp of Wisconsin (BCOW), die Holdinggesellschaft der PyraMax Bank, hat zwei bedeutende Entwicklungen bekannt gegeben: die Beauftragung von Keefe, Bruyette & Woods (KBW) als Finanzberater zur Erkundung strategischer Alternativen und die Pläne zur freiwilligen Delistung von Nasdaq sowie zur Deregistrierung bei der SEC.
Die strategische Überprüfung mit KBW könnte die Prüfung einer Unternehmenszusammenschlusses oder den Verkauf der Kontrolle umfassen, obwohl kein Zeitrahmen festgelegt wurde. Das Unternehmen wird sich am 7. März 2025 von Nasdaq delisten, mit dem letzten Handelstag an demselben Datum. Der Handel wird voraussichtlich ab dem 10. März 2025 auf dem OTCQX-Markt fortgesetzt, wobei das Symbol 'BCOW' beibehalten wird.
Nach der Deregistrierung bei der SEC am 17. März 2025 wird BCOW keine regelmäßigen Berichte (10-K, 10-Q, 8-K) mehr einreichen, sondern weiterhin jährlich geprüfte Finanzberichte und vierteljährliche Informationen auf seiner Website bereitstellen. Die Bank wird die vierteljährlichen Call Report-Einreichungen bei der FDIC aufrechterhalten.
- Potential strategic alternatives including possible business combination or sale
- Expected reduction in compliance and accounting expenses post-delisting
- Management can focus more on core business operations
- Voluntary delisting from Nasdaq to OTCQX Market, potentially reducing stock liquidity
- Reduced financial transparency due to SEC deregistration
- No guaranteed timeline or outcome for strategic alternatives exploration
Insights
The dual announcement of engaging KBW and voluntarily delisting from Nasdaq represents a pivotal strategic shift for 1895 Bancorp of Wisconsin. The engagement of KBW, a premier investment bank specializing in financial institutions, strongly signals a potential sale or strategic combination. This is particularly noteworthy given the current banking industry consolidation trend, where smaller institutions face increasing pressure from regulatory costs and technological demands.
The voluntary delisting to OTCQX, while reducing regulatory burden and costs, carries significant implications. Annual compliance cost savings could range from
The timing of these announcements is strategic. By maintaining financial reporting through alternative channels (website and FDIC Call Reports), the bank preserves essential transparency while reducing SEC-related expenses. This approach often precedes M&A activities, as it simplifies due diligence processes and regulatory approvals.
For investors, this development presents a complex scenario. While the KBW engagement suggests potential premium value through a strategic transaction, the delisting could create near-term price pressure as some institutional investors may be required to divest holdings in non-exchange listed securities. The migration to OTCQX on March 10, 2025, provides a short window for investors to adjust their positions.
The broader context is important - similar moves by community banks often result in successful strategic transactions within 12-18 months. KBW's involvement, given their strong track record in community bank M&A, suggests a serious exploration of strategic alternatives rather than a mere market testing exercise.
The KBW engagement is broad in scope and could involve, among other things, consideration of a strategic business combination or sale of control. The Company has not established a timeline for conclusion of the strategic review or any particular strategic action.
"KBW is a preeminent investment banking firm serving our industry, and we look forward to working with them as part of our comprehensive effort to enhance stockholder value," said Company President and Chief Executive Officer David Ball.
The Company has notified Nasdaq of its intent to voluntarily delist and withdraw the registration of its common stock with the Securities and Exchange Commission (the "SEC"). The Company intends to file a Form 25 (Notification of Removal from Listing) with the SEC on March 7, 2025, and expects the last trading day of the Company's common stock on Nasdaq will be on March 7, 2025. Following delisting from Nasdaq, the Company expects its common stock will be quoted on the OTCQX Market beginning on March 10, 2025 and expects to retain the symbol "BCOW."
The Company also intends to file a Form 15 (Certification and Notice of Termination From Registration) with the SEC on March 17, 2025. Upon filing, the Company's obligation to file periodic reports with the SEC, including reports on Forms 10-K, 10-Q and 8-K, will be suspended immediately.
The Company will continue to provide stockholders with an annual report containing audited consolidated financial statements and quarterly interim financial information will be made available on the Company's website at pyramaxbank.com. The Bank will also continue to file quarterly Call Reports with the Federal Deposit Insurance Corporation, which are available at www.fdic.gov.
"After careful consideration, the Board of Directors has determined that this course of action is in the best interests of the Company and its stockholders. Delisting and deregistration are expected to reduce our compliance and accounting expenses, and will allow management additional time to focus on our core mission," said Mr. Ball.
About the Company and PyraMax Bank
1895 Bancorp of Wisconsin, Inc. is the holding company of PyraMax Bank, FSB. The Bank is a federally chartered savings bank headquartered in Greenfield,
Forward-Looking Statements
This release may contain certain "forward-looking statements" that represent the Company's current expectations or beliefs concerning future events. Forward-looking statements can be identified by the use of words such as "estimate," "project," "believe," "intend," "anticipate," "assume," "plan," "seek," "expect," "will," "may," "should," "indicate," "would," "believe," "contemplate," "continue," "target" and words of similar meaning. Forward-looking statements are, by their nature, subject to numerous risks and uncertainties. Certain factors that could cause actual results to differ materially from expected results include changes in general economic conditions, changes in the interest rate environment, changes in prevailing depository institution stock prices, the evolution of the depository institution merger market, the Company's ability to terminate or the timing of the termination of its obligation to file periodic reports with the SEC as described above, the Company's ability to have its common stock quoted or the timing of its common stock becoming quoted on the OTCQX Market as described above, market reactions to the Company's delisting and deregistration, changes to the Company's business plan and strategy as a result of KBW's strategic review, legislative and regulatory changes that adversely affect the business of the Company and the Bank, and changes in the securities markets. Because of the risks and uncertainties inherent in forward-looking statements, readers are cautioned not to place undue reliance on them, whether included in this news release or made elsewhere from time to time by the Company or on its behalf. The Company disclaims any obligation to update such forward-looking statements.
Contact: David R. Ball
Telephone: (414) 421-8200
View original content to download multimedia:https://www.prnewswire.com/news-releases/1895-bancorp-of-wisconsin-inc-announces-engagement-of-keefe-bruyette--woods-inc-to-explore-strategic-options-and-voluntary-nasdaq-delisting-and-sec-deregistration-302378325.html
SOURCE PyraMax Bank / 1895 Bancorp of Wisconsin Inc.
FAQ
When will BCOW stock be delisted from Nasdaq?
Where will BCOW stock trade after Nasdaq delisting?
What strategic alternatives is BCOW exploring with KBW?
Will BCOW continue to provide financial reports after SEC deregistration?
When will BCOW's SEC deregistration take effect?
