Nasdaq has notified Pulaski Financial Corp. in St. Louis that it is out of compliance with a requirement that it have at least three outside directors on its audit committee.
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The $803 million-asset Pulaski said Friday that it was told in a letter from Nasdaq that it fell out of compliance when Robert A. Ebel, the head of the board's audit committee, retired March 1. His retirement left the committee with just two outside directors.
Pulaski said that its nominating committee is interviewing candidates to fill the vacancy, and that it plans to nominate someone at board meeting scheduled for Wednesday.
Nasdaq said Pulaski must be in compliance by either its next shareholders meeting or March 1, 2007, whichever is earliest.
