MIAMI Hamilton Bancorp may have its stock delisted from the Nasdaq National Market because it has not yet reported fourth-quarter and yearend 2000 results.
The Nasdaq Listings Qualification Panel said it plans to review Hamiltons stock listing. A hearing has not been scheduled, but the stock would remain listed if the company files its reports before the hearing.
Chief executive officer Tim Harris said Hamilton will report its earnings in the near future. The $1.75 billion-asset company estimated that that it will post fourth-quarter earnings of $2 million to $4 million.
Hamilton cannot report its earnings, Mr. Harris said, until it resolves disputes with the Securities and Exchange Commission about discrepancies between what it reported to the public and what it told regulators about the full year of 1999 and at least two quarters last year.
The companys yearend credit-loss provisions in the regulatory reports exceeded those in the financial statements by $32.7 million for 1999 and $4.2 million for last year.
At the end of last year, after an agreement with regulators, Hamilton restated its full-year and quarterly earnings for 1998 and 1999 and for the third quarter of last year to reflect new accounting procedures. The revisions increased the stated provisions for credit losses.
