NEW ORLEANS, June 21, 2016 (GLOBE NEWSWIRE) -- First NBC Bank Holding Company (“First NBC”) (NASDAQ:FNBC), the holding company for First NBC Bank, announced today that Nasdaq has accepted its plan to regain compliance with the listing rules of Nasdaq, which will permit the company’s continued listing on the NASDAQ Global Select Market.
As previously reported, following the receipt of a Nasdaq Staff Determination letter indicating that First NBC was not in compliance with Nasdaq listing rules due to the delay in filing its Annual Report on Form 10-K for the year ended December 31, 2015, First NBC timely submitted its plan to regain compliance with Nasdaq rules. Under the plan, First NBC agreed to file its Annual Report on Form 10-K for the year ended December 31, 2015 with the Securities and Exchange Commission not later than August 15, 2016 and any other delinquent Quarterly Reports on Form 10-Q for 2016 not later than September 26, 2016.
After reviewing First NBC’s plan, Nasdaq granted an extension of time to enable First NBC to regain compliance with Nasdaq listing rules in accordance with the timetable set forth in First NBC’s plan. Nasdaq has advised First NBC that the failure to comply with the terms set forth in the extension would result in written notification that First NBC’s common stock would be subject to delisting. First NBC would be entitled to appeal that determination for a panel review under Nasdaq rules.
About First NBC Bank Holding Company
First NBC, headquartered in New Orleans, Louisiana, offers a broad range of financial services through its wholly-owned banking subsidiary, First NBC Bank, a Louisiana state non-member bank. First NBC’s primary markets are the New Orleans metropolitan area, the Mississippi Gulf Coast, and the Florida panhandle, which it serves from 39 full service banking offices located throughout its markets.
This release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements do not relate strictly to historical or current facts. Forward-looking statements reflect the current views and estimates of management of First NBC with respect to future economic circumstances, industry conditions, company performance and financial results. They often include the words “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate” or words of similar meaning, or future or conditional verbs such as “will,” “would,” “should,” “could” or “may.” Forward-looking statements, by their nature, are subject to risks and uncertainties. A number of factors - many of which are beyond the control of First NBC - could cause actual conditions, events or results to differ significantly from those described in the forward-looking statements. Among other factors, actual results may differ from those described in forward-looking statements due to First NBC's ability to comply with its plan to regain compliance within the timeframes set forth in the plan, to maintain listing of its securities on Nasdaq, and to comply with all other listing rules applicable to it; and other factors included in filings made by First NBC with the Securities and Exchange Commission, including those risk factors set forth in First NBC’s Annual Report on Form 10-K for the year ended December 31, 2014. Forward-looking statements speak only as of the date they are made. Copies of First NBC’s reports filed with the SEC are available in the Investor Relations section of First NBC’s website, www.firstnbcbank.com. First NBC undertakes no duty to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made or to reflect the occurrence of unanticipated events.