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Great Florida Bank Announces Voluntary Delisting from The Nasdaq Global Market

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  Published in Business and Finance on Tuesday, May 11th 2010 at 6:20 GMT by Market Wire
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MIAMI LAKES, Fla.--([ BUSINESS WIRE ])--Great Florida Bank (NASDAQ:GFLB), a state-chartered commercial bank, announced today it intends to voluntarily delist its Class A Common Stock from The Nasdaq Global Market.

"This decision does not materially impact our loyal investors. GFBa™s Board of Directors, Management and Associates are keenly focused on forwarding the Banka™s mission and creating long-term shareholder value."

Trading on the exchange of Great Florida Banka™s Class A Common Stock will conclude at the end of business on May 19, 2010. The effective date for the voluntary withdrawal of the class of securities from listing and registration on the Exchange is Thursday, May 20, 2010.

aThe decision to voluntarily withdraw our common stock from trading on The Nasdaq Global Market is driven primarily by our commitment to aggressively manage down our operating expenses,a said Mehdi Ghomeshi, Chairman and CEO. aThis decision does not materially impact our loyal investors. GFBa™s Board of Directors, Management and Associates are keenly focused on forwarding the Banka™s mission and creating long-term shareholder value.a

ABOUT GREAT FLORIDA BANK

Great Florida Bank, headquartered in Miami Lakes, Florida was established on June 30, 2004 as a state-charted commercial bank. On March 31, 2010, total assets were $1.8 billion, Tier 1 Capital was $98.5 million, and the Tier 1 Leverage ratio was 5.55%.The Bank operates twenty-eight (28) Solution Centers throughout Miami-Dade, Broward and Palm Beach Counties. Great Florida Bank is committed to providing ideas and solutions to its customers' financial needs by conveniently delivering personalized, state-of-the-art products and services, such as GFB Mobile Banking for individual consumers and cash management clients and GFB Remote Deposit Capture for business customers, all in a relaxed environment. For more information, visit [ www.greatfloridabank.com ], or call 305-514-6900, (toll-free 866). Member FDIC.