First NBC Bank Holding in New Orleans, which delayed the release of its 2015 annual report earlier this year, said it has submitted a plan to Nasdaq to get back on schedule with its filing of financial statements.
The $4.9 billion-asset holding company for First NBC Bank said it was on time in filing "its formal plan to regain compliance with the listing rules of Nasdaq, including its reporting obligations with the Securities and Exchange Commission."
First NBC "expects to file its Annual Report on Form 10-K for the year ended December 31, 2015, as well as all subsequently due quarterly reports, within the compliance period permitted by Nasdaq rules," it said in a press release Friday.
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First NBC Bank Holding in New Orleans will likely cut its 2015 profit after it discovered errors in its accounting for tax credits.
March 17 -
First NBC Bank Holding in New Orleans has agreed to raise its purchase price for State Investors Bancorp and has delayed the targeted completion date.
August 27 -
First NBC Bank Holding in New Orleans has delayed the release of its 10-Q, after it discovered an accounting error.
August 13
First NBC may appeal if Nasdaq rejects its plan.
First NBC announced in March that it had to delay filing the annual report after discovering errors in its accounting of federal and state historic rehabilitation tax credit entities. At the time it said it would likely have to cut its net income for the fourth quarter and earlier quarters in 2015 retroactively because of the errors.
It had filed its second-quarter 10-Q late last year after finding similar accounting errors.
