Royal Bancshares of Pennsylvania Inc. in Narberth, Pa., said Friday in a regulatory filing that it was once again in compliance with the Nasdaq's listing requirement for minimum bid prices.
In November, the Nasdaq warned the $849.6 million-asset company that its common stock had closed below the $1 a share minimum for 30 consecutive trading days. The company had until May 2 to regain compliance, which requires that its common stock close at or above $1 per share for 10 consecutive business days.
Shares for Royal Bancshares closed on Friday at $1.15 a share.
In mid-November, the Federal Deposit Insurance Corp. and the Pennsylvania Department of Banking replaced a consent order against the bank with an informal agreement. With that restriction lifted, the company hired Ralph A. Citino to help expand in small-business lending.