VSB Bancorp (VSBN) in Staten Island, N.Y., plans to delist from the Nasdaq and stop filing reports with the Securities and Exchange Commission.
The $304 million-asset company said Tuesday that it expects to trade on the Nasdaq until Dec. 22. VSB will then begin trading on the OTCQB Marketplace under the same stock symbol.
The company also plans to file to deregister its common stock with the SEC at the end of this month. The board of VSB decided to deregister because of the legal, administrative and accounting costs associated with reporting to the SEC, according to the release.
VSB has five branches.