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| 8-K - INTEGRA BANK CORP | v206768_8-k.htm |
Integra
Bank Corporation Moves Listing to NASDAQ Capital Market
EVANSVILLE,
INDIANA – December 30, 2010 – Integra Bank Corporation (Nasdaq Global Market:
IBNK), today reported that it obtained approval from NASDAQ to transfer the
listing of its common stock from the NASDAQ Global Market to the NASDAQ Capital
Market. The transfer will be effective as of the market opening on
Friday, December 31, 2010.
The
NASDAQ Capital Market is one of the three market tier designations for
NASDAQ-listed stocks, and presently includes over 475 companies. The
trading of the Company’s stock is unaffected by this change and will continue to
be traded under the “IBNK” trading symbol. Securities listed on the
NASDAQ Capital Market must satisfy all applicable qualification requirements for
NASDAQ securities and all companies listed on the NASDAQ Capital Market must
meet certain financial requirements and adhere to NASDAQ’s corporate governance
standards.
The
listing transfer is part of the Company’s response to a letter received from
NASDAQ indicating that the Company was not in compliance effective July 2, 2010
with Marketplace Rule 5450(a)(1) (the "Bid Price Rule") because the closing bid
price of its common stock had been below $1.00 per share for 30 consecutive
business days. Upon transfer of its common stock to the NASDAQ
Capital Market, the Company will have an additional 180 calendar days from the
original December 29, 2010 deadline, or until June 27, 2011, to regain
compliance with the Bid Price Rule for continued listing if the trading price
exceeds $1.00 per share for a ten day period. NASDAQ’s approval was
conditioned upon the Company agreeing to effect a reverse stock split during the
additional 180 day period should it become necessary to do so to meet the $1 per
share requirement.
About
Integra
Headquartered
in Evansville, Indiana, Integra Bank Corporation is the parent of Integra Bank
N.A. As of September 30, 2010, Integra Bank had $2.6 billion in total
assets. Integra Bank currently operates 52 banking centers and 100
ATMs at locations in Indiana, Kentucky and Illinois. Additional
information may be found at www.integrabank.com.
Contacts:
Mike
Alley, Chairman and CEO - 812-461-5795
Mike
Carroll, Chief Financial Officer - 812-464-9673
Gretchen
Dunn, Shareholder Relations - 812-464-9677
Web
site:
We
routinely post important information for investors on our website,
http://www.integrabank.com, in the "Investor Relations" section under "Corporate
Information". We intend to use this website as a means of disclosing material,
non-public information and for complying with our disclosure obligations under
Regulation FD. Accordingly, investors should monitor the Investor Relations
section of our website, in addition to following our press releases, SEC
filings, public conference calls, presentations and webcasts. The information
contained on, or that may be accessed through, our website is not incorporated
by reference into, and is not a part of, this document.