Banking & Finance

Cortland Bancorp Named to Market’s Best-50 List

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CORTLAND, Ohio – Cortland Bancorp, holding company of Cortland Savings and Banking Co., is on the inaugural OTCQX Best 50 list, James M. Gasior announced Wednesday.

Gasior, president and CEO, said, “We are honored to be named one of the top ranking banks in the 2015 OTCQX Best 50. We strive to create shareholder value and we thank the OTCQX for recognizing our efforts.”

The list of companies whose shares are bought and sold on the OTCQX “includes a large number of blue chip [stocks] from Europe, Canada, Brazil and Russia that are household names,” says Investopedia.

OTCQX is defined by Investopedia as “The top tier of three marketplaces for trading over-the-counter stocks. … To qualify for an OTCQX listing, a company must meet high financial standards, be current in its disclosure and be sponsored by a third-party adviser.”

In compiling the inaugural Best 50, the authors who compiled the list based their rankings on an equal weighting of one-year share price performance and average daily dollar volume growth in the previous calendar year.

Eight banks made the list and Cortland, at No. 32, was the bank ranked third-highest. The rankings of the other banks were 16, 20, 34, 40, 44, 47 and 50.

Western Lithium USA Corp. was ranked first overall.

Published by The Business Journal, Youngstown, Ohio.