Ohio Legacy Corp Receives Nasdaq Delisting Notification

• Press Release
• Source: Ohio Legacy Corp
• On 4:40 pm EDT, Friday October 2, 2009

WOOSTER, Ohio--(BUSINESS WIRE)--Ohio Legacy Corp (NASDAQ: OLCB - News) (the “Company”) today announced that it received a notification letter from The Nasdaq Stock Market on October 1, 2009 indicating that effective September 30, 2009 the Company no longer meets the requirement under Rule 5550(a)(2) that its securities maintain a minimum bid price of $1.00 per share. Under Rule 5810(c)(3)(A), the Company has a grace period of 180 days in which to regain compliance. If at any time from the date of this notification until March 30, 2010 the bid price of the Company’s shares closes at $1.00 per share or more for a minimum of 10 consecutive business days, Nasdaq will provide the Company written confirmation of compliance with Rule 5550(a)(2).

Related Quotes

Symbol	Price	Change
OLCB	1.20	+0.20

{"s" : "olcb","k" : "c10,l10,p20,t10","o" : "","j" : ""}

In the event the Company does not regain compliance with Rule 5550(a)(2) prior to the expiration of the grace period, it will receive written notification that its securities are subject to delisting. Alternatively, the Company may be eligible for an additional grace period if it meets the initial listing standards under Rule 5505, with the exception of bid price, for The Nasdaq Capital Market. If the Company meets the initial listing criteria, it will receive written notification that it has been granted an additional 180 calendar day compliance period.

ABOUT OHIO LEGACY CORP

Ohio Legacy Corp is a bank holding company headquartered in Wooster, Ohio. Its subsidiary, Ohio Legacy Bank, N.A., provides financial services to small businesses and consumers though four full-service banking locations in Canton and Wooster, Ohio.

FORWARD-LOOKING STATEMENTS DISCLOSURE

This release contains certain forward-looking statements related to the future performance and financial condition of Ohio Legacy Corp. These statements, which are subject to numerous risks and uncertainties, are presented in good faith based on the Company’s current condition and management’s understanding, expectations, and assumptions regarding its future prospects as of the date of this release. Actual results could differ materially from those projected or implied by the statements contained herein. The factors that could affect the Company’s future results are set forth in the periodic reports and registration statements filed by the Company with the Securities and Exchange Commission.

Ohio Legacy Corp
D. Michael Kramer, 330-263-1955
President and Chief Executive Officer
http://www.ohiolegacycorp.com