The Bank Holdings Delists From NASDAQ To OTC Pink Sheets-Stock Exchange
September 29, 2009 |
| The Stock Exchange reported that The Bank Holdings has been delisted from NASDAQ to OTC Pink Sheets. |
The Bank Holdings Announces Voluntary Delisting of Common Stock
September 18, 2009 |
| The Bank Holdings announced that it has given formal written notice to the NASDAQ Stock Market (NASDAQ) of the Company's intention to voluntarily delist its common stock from the NASDAQ Capital Market. On September 15, 2009, the Company received notice from NASDAQ of this fact and that its shares would be delisted by NASDAQ if it did not regain compliance within a 180-day grace period. As the Company had already determined it to be in its best interest to voluntarily delist prior to receiving the letter, it proceeded to notify NASDAQ of its decision, which it did on September 18, 2009, and it will not seek to regain compliance with the NASDAQ Listing Rule. The Company currently anticipates that it will file a Form 25 with the Securities and Exchange Commission (SEC) and NASDAQ relating to the delisting of its common stock on or about September 28, 2009. This means that trading in the Company's Common Stock will most likely be suspended by NASDAQ effective as of the open of business on September 29, 2009, with the official delisting of the Company Common Stock to be effective ten days thereafter, on October 9, 2009. Following the delisting, the Company anticipates that its common stock will be quoted on the OTC Bulletin Board. |
The Bank Holdings Announces Joint Agreement to Strengthen Subsidiary Bank Condition and Operations
July 2, 2009 |
| The Bank Holdings announced that its principal subsidiary, Nevada Security Bank (the Bank), entered into a joint agreement with the FDIC and the Nevada Financial Institutions Division for an action plan designed to strengthen and improve the Bank's financial condition and operations. The action plan is based on items identified during the Bank`s routine regulatory exam completed in February 2009 and largely reflects strategic initiatives already put into action by the Board of Directors and management both prior to and since the exam, which are now reflecting results. Included in the agreement are initiatives management is implementing to improve the Bank's overall performance: increasing regulatory capital; reducing the concentration of commercial real estate and the amount of non-performing loans; adopting changes to internal policies and monitoring procedures; reducing reliance on brokered deposits; and providing regulators with copies of strategic plans for improving profitability and liquidity and reducing the level of classified assets. The Bank`s regulators acknowledged in the joint agreement that the Bank`s capital levels declined in part due to the government`s conservatorship of Fannie Mae and Freddie Mac; the Bank suffered a $15 million capital loss on these government sponsored enterprise investments during the third quarter of 2008. |
The Bank Holdings Announces Participation In Capital Purchase Program
November 1, 2008 |
| The Bank Holdings announced the filing of an application with its primary regulator to voluntarily participate in the Capital Purchase Program (CPP) in conjunction with the U.S. Treasury Department's Troubled Asset Relief Program (TARP). The Company's application includes the issuance of $5 million to $15 million in senior preferred stock. |
The Bank Holdings Announces Stock Repurchase Plan
December 17, 2007 |
| The Bank Holdings announced that its Board of Directors approved a plan to repurchase up to $3,000,000 of the outstanding common stock of the Company. Stock repurchases may be made from time to time on the open market or through privately negotiated transactions. The timing of purchases and the exact number of shares to be purchased will depend on market conditions. The share repurchase program does not include specific price targets or timetables and may be suspended at any time. |
Recent News