Huntingdon Valley, Pa.-based Polonia Bancorp Inc. on March 30 disclosed that it is unableto file its annual report on Form 10-K for the year ended Dec. 31, 2015, in a timelymanner.

According to a notification of late filing, the company is unableto file the Form 10-K in a timely manner because of unexpected delays in completingits financial statements for the year ended Dec. 31, 2015, related to a restatementof prior periods to address the accounting for certain post-retirement benefitsfor a former executive.

Polonia Bancorp intends to file the Form 10-K with the SEC assoon as practicable. It will make every effort to file the Form 10-K within the15-day extension period afforded by the Securities Exchange Act.