TierOne Corp. in Lincoln, Neb., said that it has been notified that it is noncompliant with Nasdaq's listing rules for a second time in several months.
The parent company of TierOne Bank, a $2.9 billion-asset thrift, said Friday that it did not file its annual 10-K report with the Securities and Exchange Commission by a deadline, violating Nasdaq's rule that listed securities meet SEC disclosure standards.
The company also got notice last year that it was not in compliance, after failing to file its 10-Q report for the third quarter. A compliance plan that was accepted by Nasdaq, stipulated that the company would meet its deadlines for all future filings — including the 10-K — and regain compliance by April 30.
If the company fails to regain compliance, it could face being delisted by Nasdaq.
