UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 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) June 29,
2010
First
National Bancshares, Inc.
(Exact
name of registrant as specified in its charter)
South
Carolina
(State or
other jurisdiction of incorporation)
000-30523
|
58-2466370
|
(Commission File
Number)
|
(IRS Employer
Identification No.)
|
|
|
215 North Pine
Street, Spartanburg, S.C.
|
29302
|
(Address of
principal executive offices)
|
(Zip
Code)
|
(864)
948-9001
(Registrant's
telephone number, including area code)
Not
Applicable
(Former
name or former address, if changed since last report)
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 (see General Instruction
A.2. below):
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 (17CFR
240.14d-2(b))
o
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item
3.01
|
Notice of
Delisting or Failure to Satisfy a Continued Listing Rule or Standard;
Transfer of
Listing.
|
As
previously disclosed, on December 29, 2009, First National Bancshares (the
“Company”) received a letter from the NASDAQ Stock Market LLC (“NASDAQ”) that
stated the Company’s common stock closed below the required minimum $1.00 per
share bid price for the previous 30 consecutive business days. The
letter also indicated that, in accordance with NASDAQ Marketplace
Rule 5810(c)(3)(A), the Company had a period of 180 calendar days, until
June 28, 2010, to regain compliance with Rule 5550(a)(2). On
June 29, 2010, the Company received a subsequent letter from NASDAQ that stated
the Company had not regained compliance with Rule 5550(a)(2). Thus,
the Company’s common stock will cease to be listed on the NASDAQ Capital Market
as of the opening of business on July 8, 2010.
Concurrently,
a market maker in the Company’s common stock has enabled the stock to be quoted
on the Pink OTC Markets Inc. beginning on July 8, 2010. In addition,
a market maker has applied for the stock to be quoted on the OTC Bulletin
Board. The Company’s common stock was quoted on the OTC Bulletin
Board from the Company’s initial funding in 2000 through October 31,
2005.
The
Company will continue to file annual, quarterly and other reports with the U.S.
Securities and Exchange Commission (SEC).
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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|
FIRST
NATIONAL BANCSHARES, INC.
|
|
|
By:
/s/ Kitty B. Payne
Name Kitty
B. Payne
Title:
EVP/Chief Financial Officer
|
Dated: July
2, 2010