The parent company of PyraMax Bank is voluntarily delisting from the Nasdaq and transitioning to trade over the counter in an effort to reduce expenses.

1895 Bancorp of Wisconsin Inc. (Nasdaq: BCOW) said it would be withdrawing the registration of its common stock with the Securities and Exchange Commission, according to a press release.

The bank has been public for about three and a half years, with its listing on the Nasdaq starting in July 2021, the culmination of a conversion project the former mutual savings bank began early that year.

Mutual savings banks are owned by their depositors, not outside shareholders, as the bank was once it transitioned.

BCOW’s stock started out trading with a share price over $15 but within days settled down to trading between $10 and $11, a level it stayed at until March 2023.

The stock was generally selling for less than $10 a share until October 2024, when it returned to that level, where it has stayed. On Wednesday, it closed at $9.98.

The decision to delist and deregister was made to reduce expenses and allow management more time to focus on its core mission, PyraMax Bank CEO David Ball said.