OTC Markets Group Welcomes Southpoint Bancshares Inc. to OTCQX

Core Insights - Southpoint Bancshares Inc. has qualified to trade on the OTCQX Best Market, marking a significant upgrade from the Pink market, which enhances its visibility among U.S. investors [1][3][4] Company Overview - Southpoint Bancshares Inc. operates primarily in the domestic commercial banking industry and is based in Alabama. Its subsidiary, SouthPoint Bank, was established in 2005 and provides full-service banking primarily in central and northern Alabama [5] - The company acquired Merchants Bank of Alabama in January 2022, further expanding its operations [5] Market Context - The OTCQX Market offers a premium platform for investor-focused companies, requiring them to meet high financial standards and adhere to best practices in corporate governance [3] - The upgrade to OTCQX is expected to attract new capital and broaden the shareholder base for Southpoint Bancshares Inc. as it continues to expand its operations [4]