Alliance Bankshares Regains Compliance with
NASDAQ Continued Listing Standards
June 02, 2010 05:18 PM Eastern Daylight Time
CHANTILLY, Va.--(EON: Enhanced Online News)--Alliance Bankshares Corporation (NASDAQ: ABVA)
(“Bankshares”) today announced that it has received a notice from the NASDAQ Stock Market (“NASDAQ”)
stating that Bankshares has regained compliance with NASDAQ’s continued listing requirements. Accordingly,
Bankshares will be removed from NASDAQ’s list of noncompliant companies and the noncompliance indicator will
be removed from Bankshares’ “ABVA” stock symbol.
On May 26, 2010, Bankshares received a notice from NASDAQ indicating that Bankshares was not in compliance
with NASDAQ’s continued listing requirements because Bankshares did not timely file its Quarterly Report on Form
10-Q for the fiscal quarter ended March 31, 2010 (the “Form 10-Q”). As previously announced, Bankshares
received a similar notice from NASDAQ after Bankshares did not timely file its Annual Report on Form 10-K for
the fiscal year ended December 31, 2009 (the “Form 10-K”).
On May 28, 2010, Bankshares filed the Form 10-K and the Form 10-Q with the Securities and Exchange
Commission. As a result, on June 1, 2010, Bankshares received written confirmation from NASDAQ that
Bankshares had regained compliance with NASDAQ’s continued listing requirements. “We are pleased to have
regained compliance with NASDAQ’s continued listing requirements,” said William E. Doyle, Jr., President and
CEO of Bankshares.
Alliance Bankshares Corporation is a single-bank holding company headquartered in Chantilly, Virginia. Its
subsidiary, Alliance Bank Corporation, has six full service banking facilities in the greater Washington, D.C.
Metropolitan region which cater to small-to-medium sized businesses, professionals, entrepreneurs and families
throughout the metropolitan region.
Certain statements in this press release may constitute “forward -looking statements” within the meaning of
the Private Securities Litigatio