Brunswick Bancorp to Withdraw Listing On AMEX
January 16 2007 - 10:07AM
Business Wire
Brunswick Bancorp (the �Company�) announced today that it has filed
to voluntarily delist its shares of common stock (SYMBOL � �BRB�)
from trading on the American Stock Exchange. It is currently
expected that the stock will begin trading on the OTC Bulletin
Board simultaneously with its withdrawal from the American Stock
Exchange on or about February 12, 2007. The Company has also filed
to deregister its common stock under Section 12 (b) of the
Securities and Exchange Act of 1934 (the �Act�). As a result, the
Company will no longer be subject to the reporting requirements of
the Act, and will no longer file quarterly reports on Form 10-Q or
annual reports on Form 10-K with the Securities and Exchange
Commission. Brunswick Bank and Trust, the Company�s bank
subsidiary, will continue to file quarterly financial data with the
Federal Deposit Insurance Corporation. Roman Gumina, the Company�s
CEO, stated: �Like many small companies, we continue to absorb
substantial costs associated with compliance with the
Sarbanes-Oxley Act and other regulatory requirements more
appropriate for larger companies. We believe its is the best
interest of the Company and its shareholders to limit these
expenses, which do not contribute to our bottom line. By moving our
stock to the OTC Bulletin Board, we can eliminate these expenses,
while continuing to provide liquidity to our shareholders.�
Brunswick Bancorp is the holding company for Brunswick Bank &
Trust, which operates through its main office in New Brunswick, New
Jersey and branch offices in New Brunswick, North Brunswick, South
Brunswick, Edison and Freehold.
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