Broadway Financial Corp. late Thursday said that Nasdaq regulators notified the savings and loan holding company that it has fallen out of compliance with the stock market’s rules because it had missed a financial reporting deadline.
The Nasdaq letter, dated April 16, told the Los Angeles parent of Broadway Federal Bank that it has 60 days to submit a plan to regain compliance.
Broadway Financial said that it has not filed its annual earnings report to the Securities and Exchange Commission because it has not yet received results of a January examination by the bank’s primary regulator, the Office of Thrift Supervision. It has not been told when that might occur.
“The company intends to complete and file its Form 10-K promptly after it receives the results of the OTS examination,” the company said in a statement released after the markets closed.
Shares earlier ended the day unchanged at $5.42.