First Regional Bancorp said late Thursday that Nasdaq regulators warned the business bank holding company that its low market cap endangered the company’s listing on the market.

Nasdaq staff in a Dec 23 letter noted that the market value of First Regional’s common shares, currently $4.73 million, had been below Nasdaq’s required $5 million minimum for 30 consecutive business days. The company has until March 23 to regain compliance or face delisting.

The Century City parent of First Regional Bank said it is exploring a variety of alternatives, which could include moving to the Nasdaq Capital Market for smaller cap companies.

Shares earlier closed down 1 cent, or 2.5 percent, to 39 cents on the Nasdaq.