FINRA Approves Bank of Botetourt';s Preferred Stock Ticker Symbol BORTP

Rhea-AI Summary

Buchanan-based Bank of Botetourt (OTCPK: BORT) announced on January 23, 2023 that its Series A Preferred Stock has received FINRA approval for trading under the ticker symbol BORTP, following its issuance in November 2022. The preferred shares are exempt from registration under the Securities Act of 1933. Raymond James & Associates acted as the Market Maker for this application. Established in 1899, the bank operates 13 retail offices across Virginia and also offers mortgage and wealth management services.

Positive

• FINRA approval of ticker symbol BORTP enhances trading accessibility for investors.
• Series A Preferred Stock issuance could attract new investors and increase capital for growth.

Negative

• None.

BUCHANAN, Va., Jan. 23, 2023 /PRNewswire/ -- Buchanan-based Bank of Botetourt (OTCPK: BORT) announced today that following the issuance of its Series A Preferred  Stock in November 2022, FINRA (Financial Industry Regulatory Authority, Inc.) approved the ticker symbol, BORTP, for the freely tradeable security. Like its common shares, BORTP has qualified to trade on the OTCPK market.

Raymond James & Associates, Inc. served as the Market Maker for the FINRA application.

The shares of preferred stock sold were exempt from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"), pursuant to Section 3(a)(2) of the Securities Act.

About Bank of Botetourt

Bank of Botetourt was chartered in 1899 and operates thirteen retail offices in Botetourt, Rockbridge, Roanoke, and Franklin counties, the City of Salem, and the Town of Vinton, all in Virginia. Bank of Botetourt also operates a mortgage division, Virginia Mountain Mortgage and a financial services division, Botetourt Wealth Management.  

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SOURCE Bank of Botetourt

FAQ

What is the significance of FINRA's approval for Bank of Botetourt's preferred stock?

The FINRA approval allows Bank of Botetourt's Series A Preferred Stock to trade under the ticker symbol BORTP, enhancing market accessibility.

When was Bank of Botetourt's preferred stock issued?

The preferred stock was issued in November 2022.

Who served as the Market Maker for Bank of Botetourt's FINRA application?

Raymond James & Associates, Inc. served as the Market Maker.

What are the regions where Bank of Botetourt operates?

Bank of Botetourt operates in Botetourt, Rockbridge, Roanoke, and Franklin counties, as well as the City of Salem and the Town of Vinton in Virginia.

What is the ticker symbol for Bank of Botetourt's preferred shares?

The ticker symbol for Bank of Botetourt's preferred shares is BORTP.