FNB United (FNBN) shares haven't closed above $1 since June 18.
Company Profile: Through its subsidiaries, FNB United offers a complete line of consumer, mortgage and business banking services, including loan, deposit, cash management, investment management and trust services, to individual and business customers. The company is based in Asheboro, N.C., and has more than 500 employees.
Closing Price: 60 cents (Sept. 1)Three-Month Stock Performance: -48.3% Received Nasdaq Notice: Aug. 2 Management's Expected Action: FNB United has until Jan. 31 to regain compliance with the bid price rule. While the company did not offer specific plans it will employ to regain compliance, FNB United noted it would be eligible after Jan. 31 to see an additional grace period by transferring to the Nasdaq Capital Market. Income Statement: In late July, FNB United said its second-quarter net loss swelled to $25.7 million, or 25 cents a share, compared to a year-earlier net loss of $1.2 million, or 11 cents a share.
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