By Stephen Nakrosis
1895 Bancorp of Wisconsin is planning to voluntarily delist its shares from the Nasdaq and has hired Keefe, Bruyette & Woods to help evaluate its strategic options.
Chief Executive Officer David Ball said on Tuesday the board determined these moves are in the best interests of the company and its stockholders. Delisting and deregistration are expected to reduce compliance and accounting expenses, and allow management additional time to focus on the company's core mission, Ball said.
The stock's last trading day on Nasdaq is expected to be March 7, the company said. Shares are expected to be quoted on the OTCQX Market beginning March 10, retaining the symbol BCOW.
The company also said its evaluation of strategic options may include a strategic business combination or sale of control.
1895 Bancorp of Wisconsin is the holding company for PyraMax Bank.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
February 18, 2025 17:33 ET (22:33 GMT)
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