Web Seminars

The New York Stock Exchange has warned Flagstar Bancorp Inc. that its stock is in danger of being delisted because it has traded at an average of less than $1 for 30 consecutive days.

The $12.7 billion-asset Flagstar, of Troy, Mich., said Wednesday that while its stock will remain listed on the exchange for now, its symbol would be assigned a special indicator to alert investors that it is no longer in compliance with NYSE listing requirements. If the shares are not trading at average above $1 for 30 straight days by Feb. 18 - six months from the day it received the NYSE warning - then the stock could be removed from the exchange.

Flagstar's shares first dipped below $1 on July 27 after the company reported a wider-than-expected loss of $74.9 million in the second quarter. Its shares plunged 18% that day, to 98 cents, fell another 26% the following day and have not traded above 77 cents since. The shares were trading at 63 cents late Thursday.