(Source: Business Wire)The Bank Holdings (NASDAQ:TBHS), the holding company for Nevada Security Bank, announced today that it has given formal written notice to the NASDAQ Stock Market ("NASDAQ") of the Company's intention to voluntarily delist its common stock from the NASDAQ Capital Market. The Board of Directors of The Bank Holdings voted to take this action on September 10, 2009. At that time, the Board was aware that its minimum bid price had remained below the limits of NASDAQ for a period of time greater than that allowed under the NASDAQ Listing Rule 5550(a)(2). On September 15, 2009, the Company received notice from NASDAQ of this fact and that its shares would be delisted by NASDAQ if it did not regain compliance within a 180-day grace period. As the Company had already determined it to be in its best interest to voluntarily delist prior to receiving the letter, it proceeded to notify NASDAQ of its decision, which it did on September 18, 2009, and it will not seek to regain compliance with the NASDAQ Listing Rule.

The Company currently anticipates that it will file a Form 25 with the Securities and Exchange Commission ("SEC") and NASDAQ relating to the delisting of its common stock on or about September 28, 2009. This means that trading in the Company's Common Stock will most likely be suspended by NASDAQ effective as of the open of business on September 29, 2009, with the official delisting of the Company Common Stock to be effective ten days thereafter, on October 9, 2009.

The decision to delist has been reached as part of the Company's overall strategy to conserve resources and improve cost-effectiveness as the benefits of maintaining a NASDAQ listing have not materialized. Considering the limited trading volume and low trading prices on NASDAQ, the Company has concluded a listing on NASDAQ does not justify the legal and accounting expenses and administrative burden associated with maintaining such listing, as well as annual listing fees and costs which would be associated with compliance with minimum bid price and public float requirements. While, at the time The Bank Holdings made its decision to delist the shares, it had not received formal notice from NASDAQ of its failure to comply with continued listing standards, it was aware that its minimum bid price was not in compliance therewith.

Following the delisting, the Company anticipates that its common stock will be quoted on the OTC Bulletin Board, a centralized electronic quotation service for over-the-counter securities, so long as market makers demonstrate an interest in trading in the Company's common stock.