Delanco Bancorp in New Jersey began trading on Friday on the OTC Markets Group platform.
The $127 million-asset holding company for Delanco Federal Savings Bank is using the ticker symbol DLNO on the OTCQX marketplace. Previously, the company's common stock traded on the OTC Pink markets.
"The commencement of trading on OTCQX will make the company's common stock more accessible to a wider range of investors, which we believe will improve the liquidity of our common stock and increase long term shareholder value," said James Igo, president and chief executive of Delanco Bancorp, in a press release Friday.
The OTC Markets Group was launched last May for community banks to provide them with liquidity and increase visibility of their stocks. Since the spring of 2014, more than 40 banks have moved their common stock to OTCQX.
Banks on the OTCQX platform are required to file quarterly and yearly financial reports. OTC Markets also provides trading benchmarks to help investors monitor the banks' share performance.
Keefe, Bruyette & Woods serves as Delanco's corporate broker on OTCQX.