An Idaho bank holding company has secured a listing on a U.S. stock exchange.
Intermountain Community Bancorp in Sandpoint said Wednesday that is stock will trade on the Nasdaq Capital Market under the ticker symbol IMCB. Shares previously traded over the counter.
Intermountain operates Panhandle State Bank, Intermountain Community Bank and Magic Valley Bank. It has 19 branches in Idaho, Oregon and Washington. It employs 276 full-time employees.
Panhandle State Bank is the 19th largest of the 22 banks operating in the Treasure Valley measured by deposits, according to Federal Deposit Insurance Corp. data. It has two Valley branches and $63 million in deposits, less than 1 percent of the Valley's market share.
"We are pleased to have successfully completed this process, which will increase the visibility of our company in the marketplace," said Curt Hecker, Intermountain's CEO.
The Nasdaq Capital Market serves companies too small to be listed on the Nasdaq Global Market.
Intermountain has filed reports with the Securities and Exchange Commission since 2004. It shares were previously listed on the OTC Bulletin Board, a stock-price quotation service, and traded under the same IMCB symbol. The company carried out a 10-for-1 reverse-stock split in October to reduce the number of its shares to 6.4 million.
