Westbury Bancorp delists and deregisters
Westbury Bancorp Inc., holding company for West Bend-based Westbury Bank, has voluntarily decided to delist its common stock from the NASDAQ Stock Market and deregister its common stock with the Securities and Exchange Commission (SEC).
Westbury, a savings and loan holding company, which has an independent community bank location in Madison, is eligible to deregister with the SEC because it has fewer than 1,200 stockholders on record.
According to a release, the decision was based on numerous factors, including the significant cost savings of no longer filing periodic reports with the SEC, plus reductions in accounting, audit, legal, and other costs.
The company will continue to be audited by an independent accounting firm and will publish quarterly and annual financial information that will be publicly available on the OTCQX and FDIC websites. Its last day of trading will likely be around Oct.13. After the NASDAQ delisting, Westbury Bancorp shares will be quoted on the OTCQX Markets.