OTC Markets Group Welcomes ES Bancshares, Inc. to OTCQX

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Jun 24, 2021, 07:00 ET

NEW YORK, June 24, 2021 /PRNewswire/ -- OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for 11,000 U.S. and global securities, today announced ES Bancshares, Inc. (OTCQX: ESBS), the holding company to its wholly owned subsidiary, Empire State Bank, has qualified to trade on the OTCQX® Best Market. ES Bancshares, Inc. upgraded to OTCQX from the Pink® market.

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

Graduating to the OTCQX Market marks an important milestone for community banks in the U.S. public markets. The OTCQX Market enables banks to maximize the value of being a public company by providing transparent trading 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.

Chief Executive Officer Philip Guarnieri of ES Bancshares, Inc. stated, "We are pleased to become a member of the OTCQX Market and look forward to the many benefits. Our strategic vision for the Company looks towards increased visibility and transparency for shareholders and potential investors"

President & Chief Operating Officer Thomas Sperzel of ES Bancshares, Inc. added, "Shareholder and investor communications is a priority, and we look forward to providing details of the Company's achievements via the OTCQX market."

Raymond James & Associates, Inc. acted as the company's OTCQX sponsor.

About ES Bancshares, Inc.
ES Bancshares, Inc. (the Company) was formed in 2006 as the holding company to its wholly owned subsidiary, Empire State Bank, (the Bank). Substantially all the operations of the Company take place at the Bank level. The Bank was organized under federal law in 2004 as a national bank regulated by the Office of the Comptroller of the Currency (OCC). The Bank's deposits are insured up to legal limits by the FDIC. In March 2009, the Bank converted its charter to a New York State commercial bank charter, with the New York State Department of Financial Services becoming its primary regulator along with the Federal Reserve Bank of New York. The Bank is a full service commercial bank that offers a variety of financial services to meet the needs of communities in its market area. The Bank attracts deposits from the general public and uses such deposits to originate commercial loans, commercial revolving lines of credit and term loans including USDA and SBA guaranteed loans, commercial real estate, mortgage loans secured by non-owner occupied one-to four-family residences and to a lesser extent construction and land loans. The Bank also invests in mortgage-backed and other securities permissible for a New York State chartered commercial bank. The Bank's primary area for deposits includes the communities of Richmond, Kings and Orange counties in New York. The Bank's primary market area for its lending activities also consists of Kings, Richmond, Queens and Orange counties in New York.

About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the OTCQX® Best Market, the OTCQB® Venture Market and the Pink® Open Market for 11,000 U.S. and global securities. Through OTC Link® ATS and OTC Link ECN, we connect a diverse network of broker-dealers that provide liquidity and execution services. We enable investors to easily trade through the broker of their choice and empower companies to improve the quality of information available for investors.

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

OTC Link ATS and OTC Link ECN are SEC regulated ATSs, operated by OTC Link LLC, member FINRA/SIPC.

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Media Contact:

OTC Markets Group Inc., +1 (212) 896-4428, [email protected]

SOURCE OTC Markets Group Inc.