UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported): August 17, 2006
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GREATER ATLANTIC FINANCIAL CORP.
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(Exact name of registrant as specified in its charter)
DELAWARE
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(State or other jurisdiction of incorporation)
0-26467 54-1873112
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(Commission File Number) (IRS Employer
Identification Number)
10700 Parkridge Boulevard, Suite P50 Reston, Virginia 20191
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(Address of Principal Executive Offices) (Zip Code)
(703) 391-1300
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(Registrant's telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))
ITEM 3.01 NOTICE OF DELISTING OR FAILURE TO SATISFY A CONTINUED LISTING RULE
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OR STANDARD; TRANSFER OF LISTING.
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On August 22, 2006, Greater Atlantic Financial Corp. (the "Company"),
the holding company for Greater Atlantic Bank (the "Bank'), issued a news
release announcing that on August 17, 2006, it received a Nasdaq Staff
Determination Letter indicating that it fails to comply with the requirement for
continued listing set forth in Nasdaq Marketplace Rule 4310(c)(14) because it
did not timely file its Quarterly Report on Form 10-Q for the period ended June
30, 2006 with the Securities and Exchange Commission. As a result, the Company's
common stock is subject to delisting from The Nasdaq Global Market and Nasdaq
will suspend trading of the Company's common stock at the opening of business on
August 28, 2006, unless the Company appeals the Staff Determination. The Company
has requested a hearing before a Nasdaq Listing Qualifications Panel to appeal
the Staff Determination, which will stay the delisting process until the Panel's
final determination. The text of the news release is attached as Exhibit 99.1
and is incorporated herein by reference.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
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Exhibit 99.1 News Release dated August 22, 2006.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
GREATER ATLANTIC FINANCIAL CORP.
Date: August 22, 2006 By: /s/ Carroll E. Amos
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Carroll E. Amos
President and Chief Executive Officer
Date: August 22, 2006 By: /s/ David E. Ritter
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David E. Ritter
Senior Vice President and
Chief Financial Officer