Flagstar Bancorp Inc (FBC)

[56Chevy]

Today is day 25 of the 30 trading day NYSE notice.

Flagstar Receives Notification from NYSE about Non-Compliance with a Continued Listing Standard

TROY, Mich., Aug. 24, 2011 /PRNewswire via COMTEX/ --

Flagstar Bancorp, Inc. (NYSE: FBC) (the "Company") announced that, on August 18, 2011, the New York Stock Exchange (the "NYSE") provided notice to the Company that it did not satisfy one of the NYSE's standards for continued listing applicable to the Company's common stock. The NYSE noted specifically that the Company was "below criteria" for the NYSE's price criteria for common stock because the average closing price of the Company's common stock was less than $1.00 per share over a consecutive 30-trading-day period.


Under NYSE policy, in order to cure the deficiency for this continued listing standard, the Company's common stock share price and the average share price over a consecutive 30-trading-day period both must exceed $1.00 on February 18, 2012 (six months following receipt of the non-compliance notice) or on the last trading day of any month prior to that date. The NYSE also notified the Company that the NYSE has the right to reevaluate continued listing determinations with respect to qualitative listing standards, including an abnormally low selling price at sustained levels.

The Company's common stock remains listed on the NYSE under the symbol "FBC," but the NYSE will assign a ".BC" indicator to the symbol to denote that the Company is below the quantitative continued listing standards. As required by the NYSE's rules, in order to maintain the listing, the Company will notify the NYSE, within 10 business days of receipt of the non-compliance notice, of its intent to cure this price deficiency.

http://investors.flagstar.com/phoenix.zhtml?c=91343&p=irol-newsArticle&ID=1600114&highlight=