UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
_______________
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES
EXCHANGE ACT OF 1934
Date of
Report (Date of earliest event reported): November 17,
2010
SUPERIOR
BANCORP
(Exact
Name of Registrant as Specified in Charter)
Delaware
State or
Other
Jurisdiction
of
Incorporation
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0-25033
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63-1201350
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(Commission
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(IRS
Employer
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File
Number)
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Identification
No.)
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17
North 20th Street,
Birmingham, Alabama
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35203
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(Address
of Principal Executive Offices)
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(Zip
Code)
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(205)
327-1400
(Registrant’s
Telephone Number, including Area Code)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
o Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
o Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o Pre-commencement
communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Section 3 — Securities and Trading
Markets
Item
3.01. Notice of Delisting or Failure to Satisfy a
Continued Listing Rule or Standard; Transfer of Listing.
On
November 17, 2010, Superior Bancorp (the “Corporation”) received a letter from
The Nasdaq Stock Market LLC (“Nasdaq”) advising that the Corporation no longer
complies with the $1.00 minimum bid price requirement for continued listing on
the Nasdaq Global Market as set forth in Nasdaq Listing
Rule 5450(a)(1). This notification has no effect on the
listing of the Corporation’s common stock at this time.
In
accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Corporation will be
provided 180 calendar days to regain compliance with the minimum bid price
continued listing requirement. If, at any time before May 16, 2011, the
closing bid price of the Corporation’s common stock is $1.00 or more for a
minimum of 10 consecutive business days, Nasdaq will provide the Corporation
with written notification that it has achieved compliance with the continued
listing requirement and the matter will be closed.
If the
Corporation does not regain compliance with the minimum bid price continued
listing requirement by May 16, 2011, the Corporation may be permitted to
transfer its common stock to the Nasdaq Capital Market if the Corporation’s
common stock satisfies all criteria for continued listing on that
market.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this Current Report on Form 8-K to be signed on its behalf by the
undersigned hereunto duly authorized.
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SUPERIOR
BANCORP
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Date:
November 19, 2010
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By:
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/s/ C. Stanley Bailey
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C.
Stanley Bailey
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Chairman,
President and Chief Executive Officer
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