OTC Markets Group Welcomes United Bancshares, Inc. to OTCQX

Rhea-AI Summary

OTC Markets Group Inc. (OTCM) announced that United Bancshares, Inc. has successfully transitioned to trade on the OTCQX® Best Market from NASDAQ. Starting August 29, 2022, United Bancshares trades under the symbol UBOH, providing shareholders easier access to company information and trading. This move aims to reduce costs and enhance visibility for regional and community banks. Brian D. Young, President and CEO, expressed excitement about the transition, reinforcing the company's commitment to shareholders.

Positive

• United Bancshares transitioned to OTCQX from NASDAQ, potentially increasing visibility.
• The move aims to reduce costs associated with being a public company.

Negative

• Transition away from NASDAQ may indicate challenges in maintaining higher exchange standards.

NEW YORK, Aug. 29, 2022 (GLOBE NEWSWIRE) -- OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for 12,000 U.S. and international securities, today announced United Bancshares, Inc. (OTCQX: UBOH), the financial holding company of The Union Bank Company, has qualified to trade on the OTCQX® Best Market. United Bancshares, Inc. previously traded on NASDAQ.

United Bancshares, Inc. begins trading today on OTCQX under the symbol “UBOH.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

The OTCQX Market enables U.S. regional and community banks to lower the cost and complexity of being a public company. Through streamlined market standards tailored for banks, OTCQX provides transparent trading, visibility and easy access to company information for shareholders. To qualify for OTCQX, community banks must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws.

“We are excited for the opportunity to trade through OTCQX,” said Brian D. Young, President and CEO of United Bancshares, Inc. “To have a platform for our valued shareholders to freely access and trade in United Bancshares is part of our continued commitment to our shareholders, clients, colleagues, and communities and builds on the foundation of continued success of United Bancshares.”

Raymond James acted as the company’s OTCQX sponsor.

About United Bancshares, Inc.
United Bancshares, Inc. is the financial holding company of The Union Bank Company (“Union Bank”) headquartered in Columbus Grove, Ohio with over $1 billion in assets and twenty offices in Northwest and Central Ohio. Founded in 1904, Union Bank provides a full variety of consumer, residential, small business, commercial, agricultural, treasury management, wealth management, brokerage, and insurance services. Union Bank also provides a comprehensive list of digital banking services to support the needs of consumers and businesses from any location. Details about our banking services are available on our website: http://theubank.com/.

About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX^® Best Market, OTCQB^® Venture Market and Pink^® Open Market.

Our OTC Link^® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets.

OTC Link ATS, OTC Link ECN and OTC Link NQB are each an SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member SIPC.

To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.

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Media Contact:
OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com

FAQ

When did United Bancshares start trading on OTCQX?

United Bancshares began trading on OTCQX on August 29, 2022.

What is the stock symbol for United Bancshares on OTCQX?

United Bancshares trades under the symbol UBOH on OTCQX.

Why did United Bancshares move to OTCQX?

The move to OTCQX aims to lower costs and improve transparency for shareholders.

What does OTCQX provide to community banks?

OTCQX offers streamlined market standards, transparency, and easier access to company information for community banks.

Who sponsored United Bancshares' transition to OTCQX?

Raymond James acted as the OTCQX sponsor for United Bancshares.