Home Industries Banking & Finance Parent company of PyraMax Bank to delist stock from Nasdaq market

Parent company of PyraMax Bank to delist stock from Nasdaq market

By
Andrew Weiland
-
PyraMax Bank's Greenfield headquarters. Image from Google.

1895 Bancorp of Wisconsin Inc., the parent company of Greenfield-based PyraMax Bank, announced Tuesday that it will voluntarily delist its stock from the Nasdaq Stock Market and deregister its common stock. The company’s stock trades on the Nasdaq exchange under the ticker symbol BCOW. At the end of trading on Tuesday, shares of the company’s

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Andrew Weiland
Andrew is the editor of BizTimes Milwaukee. He joined BizTimes in 2003, serving as managing editor and real estate reporter for 11 years. A University of Wisconsin-Madison graduate, he is a lifelong resident of the state. He lives in Muskego with his wife, Seng, their son, Zach, and their dog, Hokey. He is an avid sports fan, a member of the Muskego Athletic Association board of directors and commissioner of the MAA's high school rec baseball league.
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1895 Bancorp of Wisconsin Inc., the parent company of Greenfield-based PyraMax Bank, announced Tuesday that it will voluntarily delist its stock from the Nasdaq Stock Market and deregister its common stock. The company’s stock trades on the Nasdaq exchange under the ticker symbol BCOW. At the end of trading on Tuesday, shares of the company's stock were priced at $9.60. 1895 Bancorp of Wisconsin expects March 7 to be the last trading day of its common stock on Nasdaq. Following delisting from Nasdaq, the company expects its common stock to be quoted on the over-the-counter OTCQX market beginning March 10, and expects to retain the BCOW ticker symbol. [caption id="attachment_519336" align="alignleft" width="300"] David Ball Photo: PRNewsfoto/PyraMax Bank / 1895 Bancorp of Wisconsin, Inc.[/caption] "After careful consideration, the board of directors has determined that this course of action is in the best interests of the company and its stockholders," said David Ball, president and CEO of PyraMax Bank. “Delisting and deregistration are expected to reduce our compliance and accounting expenses, and will allow management additional time to focus on our core mission.” 1895 Bancorp of Wisconsin has hired Keefe, Bruyette & Woods, Inc., a Stifel Company, as financial advisor to assist the company in evaluating strategic alternatives. Established in 1895, PyraMax bank in 2018 first announced plans to go public with plans to raise up to $32.7 million. Shares of the company’s stock peaked at $15.90 in July of 2021, but fell to a low of $6.25 a share in October of 2023. PyraMax Bank now has six branch locations in Franklin, Grafton, Greenfield, Mukwonago, South Milwaukee and Waukesha. It has $562.7 million in total assets and 88 employees, according to the FDIC.

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