Tamalpais Bancorp (TAMB)
Closing price: 45 cents (April 7)
Revenue: $44.5 million (trailing 12 months)Received Nasdaq notice: March 12, 2010 Management's expected action: Tamalpais Bancorp said it is evaluating its options and intends to take appropriate actions in order to retain the listing of its common stock on Nasdaq before the grace period ends on Sept. 8. On April 2, the company said its Tamalpais Bank subsidiary completed the sale of $28.3 million in principal amount of certain substandard-performing and nonperforming loans to an unrelated third party investor. Tamalpais received net proceeds of approximately $15.4 million from the sale and said it will realize a pre-tax gain of approximately $600,000 in its first-quarter earnings as a result.
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