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NASDAQ warns Pacific State Bancorp of deficiency

Posted on: Tue, 17 Nov 2009 13:09:00 EST

Symbols: PSBC, STB

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In particular, the letter, dated 10 November 2009, referred to the
NASDAQ Listing Rule 5450(a)(1) whose requirements the bank failed to
meet as its ordinary shares have not maintained a minimum bid price of
USD1.00 (EUR0.672) during the preceding 30 consecutive trading days.

The rule envisages a 180-day period for Pacific State Bancorp to regain
compliance, which would be achieved if the bid price of the bank's
common stock remains above USD1.00 for ten consecutive business days.
Failure to do so would result in delisting the bank's ordinary shares.

However, if compliance is demonstrated, the bank may be eligible for an
additional grace period if it meets the initial listing standards, with
the exception of bid price, for The Nasdaq Capital Market.

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For full details on Pacific State Bancorp California (PSBC) PSBC. Pacific State Bancorp California (PSBC) has Short Term PowerRatings at TradingMarkets. Details on Pacific State Bancorp California (PSBC) Short Term PowerRatings is available at This Link.

For full details on (STB) STB. (STB) has Short Term PowerRatings at TradingMarkets. Details on (STB) Short Term PowerRatings is available at This Link.

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