Princeton National Bancorp and NASDAQ
PRINCETON — Princeton National Bancorp Inc. has been notified it may be delisted from the NASDAQ Stock Market unless it improves its minimum stockholders’ equity requirement.
On April 18, Princeton National Bancorp Inc., which does business as Citizens First National Bank, was notified by NASDAQ it no longer was in compliance with the minimum stockholders’ equity requirement for continued listing on the NASDAQ Global Market. The reason for the written notification was because the company had dropped below NASDAQ’s requirement to maintain a minimum of $10 million in stockholders’ equity, per the bank’s annual report filed on April 12.
The notification does not immediately remove Princeton National Bancorp’s common stock from NASDAQ; the company has 45 days to submit a plan to regain compliance with NASDAQ’s requirement.
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