But, if so, why is a range of that magnitude realistic when very few national and large regional money center banks have
stockholders' equity of 5 percent of assets and most community banks have
stockholders' equity of 7 percent to 10 percent of assets?
We calculate our tangible
stockholders' equity by subtracting from
stockholders' equity the sum of our goodwill and core deposit intangibles ("CDI"), and calculate our tangible assets by subtracting the same sum from our total assets.
Thus, any additional minimum liability will often be fully offset by an intangible asset, and
stockholders' equity will not be affected.
With an anticipated payback in a short period of approximately one year, a reduction in interest rate sensitivity of our liabilities, and no negative effect on
stockholders' equity, we view the repositioning of our available for sale portfolio as being very beneficial for Oriental.
Accordingly, ICICI Bank will include in its annual report in Form 20-F, consolidated financial statements according to Indian GAAP, with a reconciliation of profit after tax and networth to net income and
stockholders' equity under US GAAP and a description of significant differences between Indian GAAP and US GAAP.
The Company intends to provide a detailed plan to the Nasdaq Stock Market, as requested, on or before June 7, 2006 indicating how it expects to correct the $1,323,376 deficiency in
stockholders' equity.
As previously announced, the Company attended a hearing before a Nasdaq Listing Qualifications Panel (the "Panel") in December 2005 related to the Company's non-compliance with the Nasdaq
stockholders' equity requirement.
However, as previously stated, it is expected that the net effect of such adjustments will not impact total
stockholders' equity at December 31, 2005.
This may require an adjustment to the
stockholders' equity as of September 30, 2005, June 30, 2005 and the results of operations for the quarter and year then ended, respectively, and other previously reported periods.
00 per share for a minimum of ten consecutive trading days, and (2) on or before May 15, 2006, Citadel must report in its Quarterly Report on Form 10-Q for the period ending March 31, 2006, actual
stockholders' equity at March 31, 2006 of at least $2,500,000.
NASDAQ: ATTU), a leading provider of enterprise information integration software, today announced that it has a plan to return promptly to compliance with the minimum $10,000,000
stockholders' equity requirement for continued listing on the Nasdaq National Market.
While the restatement is not yet complete, BISYS expects that the total adjustments to be reflected in the restatement will result in a reduction in consolidated
stockholders' equity of between 8% and 8.
