8 comments on “New Low

  1. “What me worry.” Lou Ann has already told us that this move to the over the counter market “Really means nothing.” I am so proud to have her speaking for me as a shareholder.

  2. Actually the PNBC stock symbol will be traded, effective today the 29th in the OTC market. It’s symbol is registered in the Pink Sheet market.
    OTC Markets
    The pink sheets service is a loosely regulated over-the-counter, decentralized market. There are few requirements to being listed on this network, as companies do not have to file with the SEC nor keep updated financial information. The only major requirement to being listed is to have at least one market maker, who must be registered with the SEC and a member of the NASD. The market maker is responsible for quoting the latest trading price of the stock on the pink sheets network. This is a highly speculative and risky place to invest. Investores would be wise to only invest what they are willing to lose.

    The other suffix for an over-the-counter market is .OB. It means securities are traded on the OTCBB. This network is also one of high risk but is less risky than the pink sheets, as it is a regulated and has stricter listing requirements.

    Read more: http://www.investopedia.com/ask/answers/120.asp#ixzz1zBk6C757

    Also, here is a good link to show you how to now, sell/buy the stock:

    My only caution, is to proceed with caution…….

  3. I am looking at the present bid of .15 and the ask of .95, with the last trade .25. As I said in an earlier post wait till you see the spread on the over the counter market. The market makers on that market can best be described as vultures.

    • So at $.25, all the shares together are worth less than $1M. Is that group of investors the board put together waiting for a lower price before jumping in?

    • Lou Ann’s statement was very misleading and incorrect. But Tom Ogaard said much the same thing – trading on the OTC won’t be an issue, the same PNBC stock symbol will be used, people will continue to be be able to trade through their brokers, etc. They must know less than Bob Schuster, who called this latest fiasco a few weeks ago. Meanwhile, the bank continues to spin.

  4. If no established well capitalized bank is interested in taking over the bank how do you feel a few investors would want to risk any amount of money to purchase this headache? How in the world could they be in a better position to evaluate its value than the pros? They would have to have more funds anyway because as they would start to buy shares the price would start to rise. Owning this institution is a liability as they would also have to have the funds to raise the loan loss reserve ratios for the government to allow them to stay in operation. Where and how are they going to start to make profits to pay back the TARP loan and interest? Most of their human assets have left not to mention how much their competition is gearing up. If they were unable to compete before how in the world would anyone feel they will be able to turn the ship around. I do not feel anyone trusts the instition because of their past reputation of putting a spin on every unfortunate event they allowed to happen. I talk to many of their past and present customers every day and most have either pulled out their funds or are in the process. I live in the community and feel very badly that they put themselves in the position.
    Oh, and by the way the reason my post is anionymous is their past president Sorcic threated a family member and another businessman. The threat was that he would ruin their business’s or reputation or instruct the banks employees from doing business with their
    estblishments. The Board of Directors was made aware of at least one of these threats and offered proof but did nothing. It is a small town and I don’t need anyone their size trying to hurt me.

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