A unique feature of Lake Ridge Bank is that anyone can become a shareholder. Most smaller banks are owned by a family or individual while the larger national banks are all traded on Wall Street. Lake Ridge Bank is a bit of a hybrid with our stock traded on the OTC Market under the ticker symbol LRBI.
Lake Ridge Bank is widely held by more than 1,400 shareholders who have an interest in investing in a financial institution whose mission is to make the community where they live and work a better place for everyone. In fact, more than 80% of our shareholders are clients and reside in one of the communities we serve. In addition, 7% of our bank is owned by our associates as part of an Employee Stock Ownership Plan (ESOP).
Our Board of Directors and all of our associates understand part of our overall mission is to create long-term shareholder value.
How to buy LRBI stock
It is important to note that at this time Lake Ridge Bank is not trying to raise capital and is not selling shares. The shares available to purchase are from existing shareholders.
The OTC Market works on a Bid & Ask process:
- Bid price: The investor (you) uses a broker or a stock trading app to place an order to purchase a certain number of LRBI shares at a certain price. For example, 100 shares at $X per share.
- Ask price: In addition, an existing shareholder could have a similar order through their broker on the OTC Market to sell a certain number of shares at a desired price.
- If the Bid and Ask orders match, the transaction is finalized.
The main difference between the OTC Market and other exchanges like NASDAQ and the New York Stock Exchange is that they often have significantly more shares in circulation, which means buying and selling happens every day. With fewer total shares in circulation, the trading activity for LRBI stock happens less frequently, so the Bid & Ask process may take a little longer.
Benefits of Ownership
Modern investors often look for opportunities that align with their values. Owning shares of Lake Ridge Bank means you prioritize reinvestment into your local community to create a vibrant, thriving, and prosperous place.
To learn more about the potential benefits of becoming a Lake Ridge Bank shareholder, visit our Investor Relations website at lakeridge.bank/lrbancorp/.
