MONROEVILLE, Pa., Nov. 23, 2011 /PRNewswire/ -- Parkvale Financial
Corporation (NASDAQ: PVSA) reported that due to administrative
reasons, it has not finalized its filing of the Form 10-Q for the
period ended September 30,
2011. The delay in filing is not related to any issues with
respect to the consolidated financial statements, results of
operations or material impairments, and the earnings release filed
with the Securities and Exchange Commission (the "SEC") via Form
8-K on November 8, 2011 remains
unchanged and accurate. The Form 10-Q has been provided to
Parkvale Financial Corporation's ("Parkvale") Independent Public
Accountants, and Parkvale is working with them to complete their
review as soon as practically possible, but in light of the
Thanksgiving holiday, it is
anticipated that filing of the Form 10-Q with the SEC will not
occur until November 30,
2011.
Parkvale reported that on November 22,
2011, it received a letter from The NASDAQ Stock Market
("NASDAQ") pursuant to NASDAQ Listing Rule 5810(b) stating that it
is not in compliance with NASDAQ Marketplace Rule 5250(c)(1)
because the Form 10-Q for the period ended September 30, 2011 has
not been filed. Parkvale has 60 calendar days to submit to
NASDAQ a plan (the "Plan") to regain compliance with the NASDAQ
Listing Rules, but expects to file the Form 10-Q before the Plan
has to be submitted to regain compliance.
Parkvale Financial Corporation is the parent of Parkvale Bank,
which has 47 offices in the Tri-State area and assets of
$1.8 billion at September 30, 2011.
SOURCE Parkvale Financial Corporation