BROOKLYN, N.Y., July 5, 2011 /PRNewswire/ -- Brooklyn Federal
Bancorp, Inc. (Nasdaq: BFSB) (the "Company"), the holding company
of Brooklyn Federal Savings Bank (the "Bank"), today announced that
on June 28, 2011, it received a
deficiency letter from the Listing Qualifications Department of the
Nasdaq Stock Market LLC ("Nasdaq") indicating that the Company was
not in compliance with the requirements for continued listing under
Nasdaq listing Rule 5250( c )(1) (the "Rule"), which requires that
Nasdaq listed companies file their required periodic reports with
the Securities and Exchange Commission ("SEC") on a timely basis.
As previously reported, Nasdaq had previously notified the
Company of failure to comply with the Rule because it had not filed
its Form 10-K for the fiscal year ended September 30, 2010
(the "Form 10K"), and its Forms 10-Q for the periods ended
December 31, 2010 and March 31, 2011 (the "Forms 10-Q")
and had granted the Company an exception to regain compliance until
June 27, 2011. The Company filed the Form 10-K on
June 27, 2011, but did not meet this deadline with respect to
the Forms 10-Q. The Nasdaq indicated that, as a result
of the failure to meet all of the terms of the extension, the
listing of the Company's common stock would be suspended at the
opening of business on July 7, 2011.
Subsequently, the Company filed the Forms 10-Q with the SEC
on June 29, 2011. On June 30, 2011, the Company
received a letter from Nasdaq indicating that its common stock
would no longer be suspended from trading on the Nasdaq on
July 7, 2011 and confirming that the Company now complies with
the Rule. The Nasdaq indicated that the matter is now
closed.
SOURCE Brooklyn Federal Bancorp, Inc.