As expected, First NBC Bank Holding Co. received a notification from the Nasdaq Stock Market stating that it is not in compliance with a Nasdaq listing rule requiring listed companies to timely file all required periodic financial reports with the SEC.
The notification has no immediate effect on the listing or trading on the Nasdaq Global Select Market of the common stock of First NBC, which had not timely filed its Annual Report on Form 10-K for 2016.
The New Orleans-based company previously announced the receipt of a Nasdaq Staff Determination letter Nov. 15, 2016, indicating that it was not in compliance with the same Nasdaq listing rule due to the delay in filing its quarterly report on Form 10-Q for the period ended Sept. 30, 2016.
In response to that notification, First NBC filed a plan to regain compliance. Under the plan, which was accepted by Nasdaq, First NBC agreed to file all past-due SEC reports not later than April 30.