First NBC Bank Holding of New Orleans disclosed that it will miss a self-imposed deadline for filing reports for the first and second quarters.
The $4.7 billion-asset company said in a press release Friday that the delay is due to "an abundance of caution" dealing with the reports. The company said it continues to work "diligently with its independent public accountants to complete and finalize the review of the company's financial statements," though it did not reveal when it expected to file them.
Ashton Ryan Jr., First NBC's president and chief executive, did not respond to a request for additional comment.
First NBC, which delayed filing its 2015 annual report for months, stated in a compliance plan filed the Nasdaq on June 21 that it expected to bring its financial reporting fully up-to-date by Sept. 26.
As a result of the latest delay, First NBC said it expects the Nasdaq to issue a written notification of pending delisting. The company said it would request a hearing as soon as it receives such a notice, which would freeze the delisting process for 15 days.
In a research note Monday, Hovde Group analyst Kevin Fitzsimmons said he was "extremely disappointed" that the company missed the deadline, though he said any damage would be limited as long as First NBC files the long-delayed reports in time to forestall delisting of its stock.