FNB United in North Carolina Regains Nasdaq Compliance

Community banking

FNB Completes 1-for 100 Reverse Stock Split

FNB United Corp. in Asheboro, N.C., said it completed a one-for-100 reverse stock split.

By Jackie Stewart

November 1

FNB United Corp. in Asheboro, N.C., has met the requirements for continued listing on the Nasdaq after completing a one-for-100 reverse common stock split.

The company said in a regulatory filing Monday that the reverse stock split, completed on Oct. 31, increased its share trading price to meet the Nasdaq's $1 minimum bid requirement.

Shares for FNB were trading at $11.50 at midday on Tuesday, down less than 1% from Monday’s closing.

Jackie Stewart

Executive Editor, American Banker Magazine

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