Dearborn Bancorp Gets NASDAQ Non-Compliance Notice

December 8, 2009 (FinancialWire) — Dearborn Bancorp, Inc. (NASDAQ: DEAR), the Holding company for Fidelity Bank, announced that on December 2, 2009 it received a letter from the Listing Qualifications staff of The NASDAQ Stock Market (the “staff) notifying the company that it failed to comply with NASDAQ’s minimum bid price requirements for continued listing.

NASDAQ Marketplace Rule 5450(a) (1) (the “Minimum Bid Price Rule) requires companies to maintain a minimum bid price of $1.00 per share.

In accordance with Marketplace Rule 5810(c) (3) (A), the company has 180 calendar days to regain compliance with the Minimum Bid Price Rule. The staff will provide written notification to the company that it has achieved compliance with the Minimum Bid Price Rule if, at any time before June 1, 2010, the minimum bid price of the company’s common stock closes at $1.00 per share or more for at least 10 consecutive trading days. If the company does not regain compliance with the Minimum Bid Price Rule by the required deadline, the company’s common stock will be subject to delisting from the NASDAQ Global Select Market. The company may, however, be eligible for an additional grace period if it satisfies the initial listing standards (with the exception of the Bid Price Rule) for listing on The NASDAQ Capital Market, and it submits a timely application to NASDAQ to transfer the listing of its common stock to the NASDAQ Capital Market. The company will continue to evaluate its options with respect to maintaining the listing of its common stock on the NASDAQ stock market.

Dearborn Bancorp, Inc. is a registered bank holding company. Its sole banking subsidiary is Fidelity Bank. The Bank operates 17 offices in Wayne, Oakland, Macomb and Washtenaw Counties in the State of Michigan. Its common shares trade on the NASDAQ Global Market under the symbol DEAR.

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