North Valley Bancorp in Redding, Calif., announced that it has completed a 1-for-5 reverse stock split.
It said that the move late Tuesday would let the $895 million-asset company remain in compliance with Nasdaq listing policy.
Michael Cushman, the company's president and chief executive, said in a press release last month that the reverse split's main rationale was to "remain above the minimum price" for the Nasdaq Global Select Market.
Cushman also expressed hope that the split would "encourage greater interest in our common stock."
