Horizon Bank regains Nasdaq compliance
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Michigan City-based Horizon Bancorp Inc. (Nasdaq: HBNC) says it has regained compliance with The Nasdaq Stock Market after it successfully submitted a mandatory financial report with the U.S. Securities and Exchange Commission. The bank says it has received notification from Nasdaq that the issue over a tardy report submission has been resolved and the matter is closed.
Last week, Horizon Bank said it has received a letter from Nasdaq after failing to file a year-end report to the SEC by March 1. The Form 10-K provides a comprehensive overview of the company’s business and financial condition and includes audited financial statements.
The company said an internal calculation led to the delay in filing the paperwork with the federal government.
Horizon says it is reviewing its internal policies on financial reporting and making changes as necessary to prevent future compliance problems.