HARRISBURG, Pa., Jan. 11, 2011 (GLOBE NEWSWIRE) -- Tower Bancorp, Inc. ("Tower") (Nasdaq:TOBC) announced today that the NASDAQ Stock Market has upgraded the listing of the company's securities to the NASDAQ Global Select Market.
"We are proud of our upgrade to the NASDAQ Global Select Market which is a testament of the consistent financial performance we have delivered and our strategic direction," said Andrew Samuel, Chairman and CEO of Tower Bancorp, Inc. "The listing reflects our commitment to leadership and is a mark of achievement for our organization."
Introduced in 2006 as the top of three NASDAQ market tiers, the NASDAQ Global Select Market is designed for public companies that meet the highest listing standards in the world, with measures including market value, liquidity and earnings.
About Tower Bancorp, Inc.
Tower Bancorp, Inc. is the parent company of Graystone Tower Bank, a full-service community bank operating 49 branch offices in central and southeastern Pennsylvania and Maryland through three divisions, Graystone Bank, Tower Bank, and 1N Bank. With total assets of approximately $2.7 billion, Tower Bancorp's unparalleled competitive advantage is its more than 550 employees and a strong corporate culture paired with a clear vision that provides customers with uncompromising service and individualized solutions to every financial need. Tower Bancorp's common stock is listed on the NASDAQ Global Select Market under the symbol "TOBC." Wealth Management and Trust Services are provided through Graystone Wealth Management, a division of Graystone Tower Bank. More information about Tower Bancorp and its divisions can be found at www.yourtowerbank.com, www.graystonebank.com, www.1nbank.com, and www.towerbancorp.com.
Safe Harbor for Forward-Looking Statements
This document may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results and trends could differ materially from those set forth in such statements due to various risks, uncertainties and other factors. Such risks, uncertainties and other factors that could cause actual results and experience to differ from those projected include, but are not limited to, the following: ineffectiveness of the company's business strategy due to changes in current or future market conditions; the effects of competition, and of changes in laws and regulations, including industry consolidation and development of competing financial products and services; interest rate movements; changes in credit quality; inability to achieve merger-related synergies; difficulties in integrating distinct business operations, including information technology difficulties; volatilities in the securities markets; and deteriorating economic conditions, and other risks and uncertainties, including those detailed in filings by Tower Bancorp, Inc. with the Securities and Exchange Commission (SEC).
The Tower Bancorp, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7686
CONTACT: Andrew Samuel Chairman and CEO (717) 724-2800