HR Bankshares put on notice by Nasdaq

Hampton Roads Bankshares Inc. said Friday it had received a noncompliance notice from Nasdaq for its low stock price. The bid price for the Norfolk-based bank holding company's stock has been below $1 a share for 30 consecutive days. It closed Friday at about 63 cents.

The notice gives the parent of Bank of Hampton Roads and Shore Bank until May 16 to bring up its stock value, or it could be delisted from the market. It recently launched a rights offering for existing shareholders to buy up to 100 million shares for 40 cents each, the same price paid by private-equity funds in a $235 million recapitalization. If the stock does not rise, the company said it would consider options, including a 1-for-2 reverse stock split, to meet listing rules.