- Notification that Annual Report will be submitted late (NT 10-K)
April 01 2011 - 5:03PM
Edgar (US Regulatory)
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OMB APPROVAL
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OMB Number: 3235-0058
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
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(Check one):
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þ
Form 10-K
o
Form 20-F
o
Form 11-K
o
Form 10-Q
o
Form 10-D
o
Form N-SAR
o
Form N-CSR
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For Period Ended:
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December 31, 2010
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o
Transition Report on Form 10-K
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o
Transition Report on Form 20-F
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o
Transition Report on Form 11-K
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o
Transition Report on Form 10-Q
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o
Transition Report on Form N-SAR
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For the Transition Period Ended:
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Read Instruction (on back page) Before Preparing Form. Please Print or Type.
Nothing in this form shall be construed to imply that the Commission has verified any information contained herein.
If the notification relates to a portion of the filing checked above, identify the Item(s) to which
the notification relates:
PART I REGISTRANT INFORMATION
Full Name of Registrant
Former Name if Applicable
17 North Twentieth Street
Address of Principal Executive Office
(Street and Number)
City, State and Zip Code
PART II RULES 12b-25(b) AND (c)
If the subject report could not be filed without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed. (Check box if appropriate)
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o
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(a)
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The reason described in reasonable detail in Part III of this form could not be
eliminated without unreasonable effort or expense
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(b)
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The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-SAR or Form N-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q or subject distribution report on Form 10-D, or portion thereof, will be filed on or before the fifth calendar day following the prescribed due date; and
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(c)
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The accountants statement or other exhibit required by Rule 12b-25(c) has been attached if applicable.
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PART III NARRATIVE
State below in reasonable detail why Forms 10-K, 20-F, 11-K, 10-Q, 10-D, N-SAR, N-CSR, or the transition report or portion thereof, could not be filed within the prescribed time period.
The Registrant is unable to file its Annual Report on Form 10-K within the prescribed time period without unreasonable effort or expense for the following reasons. The Registrant
has been unable to complete the
Registrants financial statements for the fiscal year ended
December 31, 2010 due to, among other things, the Registrant having determined that a material weakness existed in our disclosure controls and procedures related to the
untimely receipt and review of updated appraisals on impaired assets and the inadequate periodic review of impairment measures between required re-appraisal dates in order to determine and record further declines in value. The Registrant will be unable to complete its financial statements for the year ended December 31, 2010 until improvements in controls over appraisal ordering, processing and reporting and other steps related to the management of credit administration and problem assets are completed.
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SEC 1344 (04-09)
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Persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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(Attach extra Sheets if Needed)
PART IV OTHER INFORMATION
(1)
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Name and telephone number of person to contact in regard to this notification
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James A. White
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205
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327-3656
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(Name)
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(Area Code)
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(Telephone Number)
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(2)
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Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such report(s) been filed? If answer is no, identify report(s).
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Yes
þ
No
o
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(3)
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Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof?
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Yes
þ
No
o
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If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.
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The Registrant anticipates that there will be a significant increase in its Allowance for Loan Losses, but cannot satisfactorily estimate the quantitative impact of that increase for the reasons stated above in Part III.
(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the undersigned hereunto duly authorized.
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Date
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April 1, 2011
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By
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/s/ James A. White
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James A. White,
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Chief Financial Officer
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INSTRUCTION: The form may be signed by an executive officer of the registrant or by any other
duly authorized representative. The name and title of the person signing the form shall be typed or
printed beneath the signature. If the statement is signed on behalf of the registrant by an
authorized representative (other than an executive officer), evidence of the representatives
authority to sign on behalf of the registrant shall be filed with the form.
ATTENTION
GENERAL INSTRUCTIONS
1.
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This form is required by Rule 12b-25 (17 CFR 240.12b-25) of the
General Rules and Regulations under the Securities Exchange Act of
1934.
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2.
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One signed original and four conformed copies of this form and
amendments thereto must be completed and filed with the Securities
and Exchange Commission, Washington, D.C. 20549, in accordance
with Rule 0-3 of the General Rules and Regulations under the Act.
The information contained in or filed with the form will be made a
matter of public record in the Commission files.
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3.
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A manually signed copy of the form and amendments thereto shall be
filed with each national securities exchange on which any class of
securities of the registrant is registered.
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4.
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Amendments to the notifications must also be filed on Form 12b-25
but need not restate information that has been correctly
furnished. The form shall be clearly identified as an amended
notification.
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5.
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Electronic Filers:
This form shall not be used by electronic
filers unable to timely file a report solely due to electronic
difficulties. Filers unable to submit reports within the time
period prescribed due to difficulties in electronic filing should
comply with either Rule 201 or Rule 202 of Regulation S-T
(§232.201 or §232.202 of this chapter) or apply for an adjustment
in filing date pursuant to Rule 13(b) of Regulation S-T
(§232.13(b) of this chapter).
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6.
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Interactive data submissions
. This form shall not be used by
electronic filers with respect to the submission or posting of an
Interactive Data File (§232.11 of this chapter). Electronic filers
unable to submit or post an Interactive Data File within the time
period prescribed should comply with either Rule 201 or 202 of
Regulation S-T (§232.201 and §232.202 of this chapter).
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