Emulwa here is an example of a recent otc that split and now look.
Integrity Bancshares, Inc. Announces Filing Application to Join NASDAQ
ALPHARETTA, Ga., July 31, 2006 (PRIMEZONE) -- Integrity Bancshares, Inc. (Pink Sheets:ITYC) today announced that the Company has filed an application to join the Nasdaq Global Market stock exchange. Management is hopeful that its stock will be listed on the NASDAQ exchange sometime in the third quarter. For the past few years, Integrity Bancshares has been quoted in the Pink Sheets in the Over the Counter market.
CEO Steve Skow said, "We believe this is a very positive step considering our continuing growth goals, and it should provide a more liquid market for our shareholders. In our five and a half year life, we have paid stock dividends in the form of stock splits three times, increasing the number of shares outstanding to over 14 million. Going on NASDAQ is the next obvious move for our stock."
Integrity Bancshares, Inc. recently announced record second quarter 2006 earnings of $2.8 million, or $.18 per diluted share. These results reflected an 88% increase over results for the same period last year of $1.5 million, or $.10 per diluted share. (Per share amounts for periods in 2005 have been adjusted for the December 2005 two-for-one stock split). Year to date net earnings were $4.9 million, or $.32 per diluted share, an increase of 76% over 2005 year to date net earnings of $2.8 million, or $.20 per diluted share. Integrity's year to date earnings resulted in a return on average shareholders' equity of 14.30% compared to 11.71% for the same period last year. Total assets as of June 30, 2006 were $958 million, up 60% over the $599 million at June 30, 2005. Asset growth was primarily due to growth in the loan portfolio, which increased 56% year over year to $815 million at June 30, 2006.
Integrity Bancshares, Inc. is the holding company for Integrity Bank, located in Alpharetta, Georgia. The bank began operations on November 1, 2000, and its main office is located at 11140 State Bridge Road. A second branch was opened at 900 Woodstock Road in Roswell, Georgia in 2003. A third branch opened at 1650 Cumberland Parkway in Smyrna, Georgia in June, 2004. We opened our fourth full-service branch facility in Duluth, Georgia on April 14, 2006. A loan production office opened in Cumming (Forsyth County), Georgia during the 4th quarter of 2005.
The primary investor contact at Integrity Bancshares, Inc. is Ms. Suzanne Long, Senior Vice-President & C.F.O. For a list of our primary market makers, please access the Investor Relations section of our website at www.myintegritybank.com
