November 17, 2009 (FinancialWire) — First National Bancshares, Inc. (NASDAQ: FNSC) announced its intent, as of November 9, 2009, to submit an application to transfer its company’s listing of common stock to the NASDAQ Capital Market, as part of its continuing efficiency efforts.

Fulfilling company’s short- and long-term goals to decrease costs of business, the transfer to the Capital Market will have no impact on shareholders’ abilities to access the stock or make transactions. First National common stock is currently listed on the NASDAQ Global Market and can one day apply to return to that market, if its Board deems appropriate and efficient.

“This is a non-issue for First National shareholders in terms of their transactions, but an important one for the company in terms of being constantly vigilant of achieving efficiencies wherever we can,” J. Barry Mason, president and CEO of First National Bancshares and its subsidiary, Spartanburg-based First National Bank of the South. “NASDAQ Capital Market listing simply meets our needs better than the Global Market.”

The company intends to file a transfer application as soon as practicable. According to NASDAQ, the Capital Market does not require a fee for transfer and maintains lesser costs and its own listing standards, of which First National is currently in compliance. NASDAQ, in a November 4, 2009 compliance letter to the company, suggested the possible application for transfer to the Capital Market, noting the company’s continued requirement to adhere to Global Market listing standards such as maintaining stockholder’s equity above $10 million.

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