Skyline Bankshares: No Exchange-Listed Securities Reported in 8-K

TL;DR

**Skyline Bankshares isn't listed on any major exchange, impacting stock liquidity.**

AI Summary

Skyline Bankshares, Inc. filed an 8-K on January 18, 2024, to report an event that occurred on January 16, 2024. This filing indicates that the company has no securities registered pursuant to Section 12(b) of the Act, meaning its stock is not listed on a major exchange. For investors, this matters because it signals a lack of liquidity and potentially less transparency compared to exchange-listed companies, which could impact the ease of buying or selling shares.

Why It Matters

This filing highlights that Skyline Bankshares, Inc. does not have its securities listed on a major exchange, which can affect stock liquidity and investor access to information.

Risk Assessment

Risk Level: medium — The absence of exchange-listed securities can lead to lower liquidity and potentially higher volatility for investors.

Analyst Insight

Investors should be aware that Skyline Bankshares, Inc. is not listed on a major exchange, which could impact liquidity and the ease of trading shares. Further due diligence on over-the-counter markets or direct share ownership would be necessary.

Key Players & Entities

• Skyline Bankshares, Inc. (company) — the registrant filing the 8-K
• January 16, 2024 (date) — date of the earliest event reported
• January 18, 2024 (date) — date the 8-K was filed
• Virginia (company) — state of incorporation for Skyline Bankshares, Inc.
• 333-209052 (company) — Commission File Number for Skyline Bankshares, Inc.
• 47-5486027 (company) — I.R.S. Employer Identification No. for Skyline Bankshares, Inc.
• 101 Jacksonville Circle, Floyd, Virginia, 24091 (company) — principal executive offices address for Skyline Bankshares, Inc.
• 540-745-4191 (company) — telephone number for Skyline Bankshares, Inc.

Forward-Looking Statements

• Skyline Bankshares, Inc. will continue to operate without its securities listed on a major exchange. (Skyline Bankshares, Inc.) — high confidence, target: 2025-01-18

FAQ

Filing Documents

• pkkw20240117_8k.htm (8-K) — 29KB
• ex_616049.htm (EX-3.1) — 44KB
• 0001437749-24-001624.txt ( ) — 204KB
• slbk-20240116.xsd (EX-101.SCH) — 3KB
• slbk-20240116_def.xml (EX-101.DEF) — 10KB
• slbk-20240116_lab.xml (EX-101.LAB) — 14KB
• slbk-20240116_pre.xml (EX-101.PRE) — 11KB
• pkkw20240117_8k_htm.xml (XML) — 2KB

03

Item 5.03 Amendments to Articles of Incorporation or Bylaws;   Change   in Fiscal Year.   On January 16, 2024 and in connection with the previously disclosed resignation of James W, Shortt, the Board of Directors adopted an amendment to the Company's bylaws (the "Bylaws"), effective immediately. The amendment revised Section 2.2 of the Bylaws to decrease the size of the Company's Board of Directors from fourteen (14) directors to thirteen (13) directors. A copy of the Company's amended and restated Bylaws is attached as Exhibit 3.1 hereto and is incorporated herein by reference.  

01

Item 8.01 Other Events.   Also on January 16, 2024, the Board of Directors appointed David McNeill to serve as Vice Chairman of the Board of the Company and its wholly-owned subsidiary, Skyline National Bank.    

Financial Statements and Exhibits

Financial Statements and Exhibits.   (d) Exhibits.     Exhibit No. Description     3.1 Amended and Restated Bylaws of Skyline Bankshares, Inc.         104 Cover Page Interactive Data File (embedded within the Inline XBRL document)        

SIGNATURES

SIGNATURES   Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.     SKYLINE BANKSHARES, INC. (Registrant)                 Date: January 18, 2024 By: /s/ Blake M. Edwards Blake M. Edwards President and Chief Executive Officer    

View Full Filing

View this 8-K filing on SEC EDGAR