November 20, 2009 (FinancialWire) — Superior Bancorp’s (NASDAQ: SUPR) shareholders have approved the amendment to its Restated certificate of Incorporation to increase the number of authorized shares of common stock of Superior Bancorp from 20 million to 200 million.

According to Superior, the company’s board had recommended that the stockholders approve the proposed amendment because the board believes it to be in the best long-term and short-term interests of Superior Bancorp, its stockholders and its other constituencies.

company CEO Stan Bailey said, “The approved increase in the number of authorized shares of common stock will ensure that a sufficient number of shares are available, if needed, for issuance in connection with possible future opportunities.”

Birmingham, Alabama-based Superior Bancorp is a thrift holding company whose principal subsidiary of Superior Bancorp is Superior Bank, a Southeastern community bank that currently has 72 branches, with 44 locations throughout the state of Alabama and 28 locations in Florida.

Superior Bank also operates 23 consumer finance offices in North Alabama as 1st Community Credit and Superior Financial Services.

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