Latest news for Katahdin Bankshares (OTC:KTHN) Stock

Katahdin Bankshares

KATAHDIN BANKSHS CP

Katahdin Bankshares Corp is a part of the financial services sector. It is a state-chartered commercial bank whose deposits are insured by the Federal Deposit Insurance Corporation. Its primary business is to lend funds and accept deposits from consumers and small businesses in Aroostook and the Portland area. The Bank has full-service branches throughout northern Maine and the greater Bangor and Portland regions. Its key services include personal banking, business banking, and investments.

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The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

These Were The 50 Best-Performing Companies On The OTCQX Market In 2019

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5 Years Later, The &#34;Middle Ground&#34; For Publicly Traded Banks Keeps Growing

KATAHDIN BANKSHARES CORP by Katahdin Bankshares Corp.

Katahdin Bankshares Corp

Katahdin Bankshares GAAP EPS of $0.77, revenue of $9.68M

Katahdin Bankshares declares $0.152 dividend

Katahdin Bankshares GAAP EPS of $0.81, revenue of $9.77M

Katahdin Bankshares to effect up to $2M stock buyback program

Katahdin Bankshares GAAP EPS of $0.73, revenue of $10M

Katahdin Bankshares GAAP EPS of $0.64

Katahdin Bankshares raises quarterly dividend  by 15.1% to   $0.175/share

Katahdin Bankshares: Long-Term Incremental Returns

Earnings

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Katahdin Bankshares Corp. Reports Second Quarter 2023 Financial Results

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Katahdin Bankshares Corp. Announces Quarterly Dividend

Katahdin Bankshares Announces Stock Buyback Program

Katahdin Bankshares Corp. Reports 4th Quarter 2023 Financial Results

Katahdin Bankshares Corp. Posts 2023 Annual Report

Katahdin Bankshares Corp. Reports First Quarter 2024 Results

Prior to 2012, a community bank had two options if it wanted to <a href="https://www.benzinga.com/news/19/01/13058195/why-are-so-many-community-banks-going-public" style="text-decoration:none">go public</a>: IPO on an exchange or trade on what&rsquo;s now known as the Pink Open Market.

One of those options is capital intensive. The other comes with minimal financial standards and disclosure requirements. For many firms, neither is ideal.

But that changed with the passing of the JOBS Act, which eased many SEC regulations on small businesses. Among those changes was a section that increased the shareholder threshold from 500 to 1,200 for a bank to be SEC-registered. &nbsp;&nbsp;

Suddenly, a number of banks deregistered to save the cost of SEC filings, which can amount to over $250,000. And though it became easier for small banks to raise money by selling shares, they had no market on which to do so.

To solve that, OTC Markets created the&nbsp;<a href="https://www.otcmarkets.com/corporate-services/get-started/otcqx-us-banks?utm_medium=email&amp;utm_campaign=CS_Banks%20Update_May%202019&amp;utm_content=CS_Banks%20Update_May%202019+CID_101501ae940c7c641fc80781c0cca0a7&amp;utm_source=Email%20Campaign&amp;utm_term=Eligibility%20Standards" style="text-decoration:none">OTCQX U.S. Banks market</a>, which launched five years ago this month. The purpose, according to OTC Markets Group Vice President Laura Hamilton, was to create a middle ground for those community banks&nbsp;with&nbsp;high financial standards to differentiate themselves&nbsp;without the costs of being an SEC filer.

&ldquo;How do you elevate your profile and have a better peer group without having to file with the SEC?&rdquo; she said. &ldquo;OTCQX for Banks filled that void.&rdquo;

<h3>5 Years Of Growth</h3>

The OTCQX U.S. Banks market was created with 10 founding members, six of whom have since either uplisted to an exchange or have since been acquired. The remaining four, Virginia National Bankshares Corporation (OTCQX:<a class="ticker" href="/stock/VABK#OTCQX">VABK</a>), Harleysville Savings Financial Corporation (OTCQX:<a class="ticker" href="/stock/HARL#OTCQX">HARL</a>), Calvin B. Taylor Bankshares, Inc. (OTCQX:<a class="ticker" href="/stock/TYCB#OTCQX">TYCB</a>), and Katahdin Bankshares Corporation (OTCQX:<a class="ticker" href="/stock/KTHN#OTCQX">KTHN</a>) still trade on the market.

In the ensuing years, over 130 community banks have joined OTCQX &mdash;10 voluntarily delisted from an exchange, and more than 20 have used the &ldquo;Slow PO&rdquo; method, which is equivalent to a direct listing, to become publicly traded. There are currently 90 banks trading on the OTCQX Market, 30 of which joined in 2018.

<img src="https://lh4.googleusercontent.com/gtCuzy93epL_vHMcTee6OmC_0IUyA2pPUlid0VVqgjoiGgrY3CXtUVluuzt1JL6Uru4FfXWk3Hl4biprHLK2zmJEnmEtTQ3GSmzpFgpQRXiw6YY3UD90OQ1OFiEKtwSuMY_6eyl1" style="border:none; height:206px; width:489px" />

Data courtesy of OTC Markets

Hamilton said that at the outset, most banks trading on the market were under $1 billion in assets, but today some have grown to as much as $4 billion.

&ldquo;We&rsquo;re doing all these things to raise the profile of a bank without the cost and complexity of traditional exchanges,&rdquo; Hamilton said. &ldquo;We&rsquo;re pushing out financial reports, providing banks with opportunities to share their story. OTCQX has helped these companies raise their profile enough to use their stock as a currency and get the liquidity they need.&rdquo;

She noted that the OTCQX Banks Index, which can serve as a benchmark for the banks trading on the OTCQX Best Market, has outperformed the SNL U.S. Banks Index since inception.

<img src="https://lh4.googleusercontent.com/OmtBC3QULMbQl73O9rIETqWKdKb5p7ElxubFvufuZFrPt89dk6MgOrd_G_dlQOSfk_P-Tmmlop7HuO-lNGiQ-Ux4gWodAcjG5ZExgTDeYeCpeSnaMyaVYAHFa4egSQpH22e-3N3i" style="border:none; height:283px; width:544px" />

Data courtesy of OTC Markets

&ldquo;Following SEC deregistration in the fall of 2013 we were looking for another reputable index through which we could deliver our message to existing and prospective stockholders,&rdquo; said Raymond Thompson, president &amp; CEO of Calvin B. Taylor Bankshares, Inc. (OTCQX:<a class="ticker" href="/stock/TYCB#OTCQX">TYCB</a>).&nbsp;As a Founding Member of the OTCQX, we have benefitted from reduced expenses, increased market visibility, and a credible trading platform. We enjoy our affiliation with the high-performing financial institutions that have become members since its inception.&rdquo;

OTC Markets is a content partner of Benzinga

5 Years Later, The "Middle Ground" For Publicly Traded Banks Keeps Growing

In a few weeks, OTC Markets will release its OTCQX Best 50 for 2019, an annual list of the best-performing stocks on the top tier of its market over the previous 12 months.

With that in mind, we thought we&rsquo;d take a look back at last year&rsquo;s list to see which stocks kept up the strong performance throughout the year.

First, a couple caveats. Stocks on this list had to meet the following criteria at the end of the year to be eligible:

<ul>
	<li>Traded on OTCQX for at least one year</li>
	<li>Closed at $0.25 or greater</li>
	<li>Annual dollar volume of at least $500,000</li>
	<li>Not a penny stock as defined by the Securities Exchange Act of 1934</li>
</ul>

These are five of the best-performing stocks for the year from the 2018 OTCQX Best 50 list (all data is of last week&#39;s close).

1. Corvus Gold Inc (OTCQX:<a class="ticker" href="/stock/CORVF#OTCQX">CORVF</a>)

The Canadian gold miner was the 21st best-performing of the 2018 OTCQX stocks, closing up 212 percent last year at $1.31. In a year in which gold is down 4&nbsp;percent, shares of CORVF are up 46 percent year-to-date to $1.93 and a new all-time high was made Oct. 8.

2. Smith-Midland Corporation (OTCQX:<a class="ticker" href="/stock/SMID#OTCQX">SMID</a>) 
The building materials company is up 11 percent year-to-date after rising 28 percent last year. Though it&rsquo;s off its all-time high from January 31, it has dramatically outperformed the Dow Jones Building Materials Index, which is down 13 percent in 2018.

3. Suncrest Bank (OTCQX:<a class="ticker" href="/stock/SBKK#OTCQX">SBKK</a>)

Only nine stocks have appeared on this list two years in a row, and Suncrest is one of them (Smith-Midland is another). The regional bank is up 6 percent in 2018, and made a new all-time high in June.

4. Katahdin Bank (OTCQX:<a class="ticker" href="/stock/KTHN#OTCQX">KTHN</a>)

Shares of the Maine-based bank with nearly $800 million in assets have risen 4 percent in 2018. If the stock can hold $17 through the end of the year, it&rsquo;ll be the highest yearly close since 2007.

5. Air Canada (OTCQX:<a class="ticker" href="/stock/ACDVF#OTCQX">ACDVF</a>) 
Canada&rsquo;s largest airliner doubled in price in 2017. While the stock is red in 2018, in the second half of the year (since July 2), ACDVF has risen 24 percent to $18.99, and the stock is within earshot of its all-time high hit last October.

OTC Markets is a content partner of Benzinga

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The OTCQX 2018 Best 50: Where Are They Now?

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