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 Exchange Act of 1934

Date of report (Date of earliest event reported):

April 2022, 2010

EUROBANCSHARES, INC.

(Exact name of registrant as specified in its charter)

Commonwealth of Puerto Rico	000-50872	66-0608955
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

	State Road PR-1, Km. 24.5 Quebrada Arenas Ward San Juan, Puerto Rico 00926
	(Address of principal executive offices) (Zip Code)

	(787) 751-7340
	(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 (see General Instruction A.2. below):

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 CFR240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR240.13e-4(c))

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule of Standard; Transfer of Listing.

On April 20, 2010, EuroBancshares, Inc. (“EuroBancshares”) received a letter from The Nasdaq Stock Market (“Nasdaq”) advising EuroBancshares that it is currently not in compliance with the continued listing requirements set forth in Nasdaq Listing Rule 5250(c)(1) due to its failure to file its Annual Report on Form 10-K for the year ended December 31, 2009 (the “Form 10-K”), by the applicable filing deadline. In accordance with Nasdaq Listing Rules, EuroBancshares has 60 calendar days to submit a plan to regain compliance. If the plan is accepted by Nasdaq, EuroBancshares may be granted an extension of up to 180 calendar days to regain compliance with Nasdaq Listing Rule 5250(c)(1). EuroBancshares intends to submit a plan to regain compliance to Nasdaq within the prescribed 60 day period.

EuroBancshares is working to complete the preparation and filing of its Form 10-K as promptly as practicable. There is no change in the trading of EuroBancshares’ common stock on the NASDAQ Stock Market at this time.

EuroBancshares issued a press release announcing its receipt of the notice from Nasdaq described herein. A copy of the press release is attached hereto as Exhibit 99.1.

Item 8.01

Other Events.

AsOn ~~previously~~April ~~disclosed~~22, ~~on September 1~~2010, ~~2009~~Eurobank, ~~Eurobank~~a subsidiary ~~consented~~of toEuroBancshares, ~~the~~Inc. ~~issuance by~~ (the ~~FDIC~~“Company”), ~~and~~entered ~~the~~into ~~Puerto~~agreements ~~Rico~~with ~~Office of~~ the ~~Commissioner~~Federal ofDeposit ~~Financial~~Insurance ~~Institutions~~Corporation of(“FDIC”) anand ~~order~~the toFinancial ~~cease and~~Crimes ~~desist~~Enforcement ~~(the~~Network (“~~Order~~FinCEN”)~~. Under~~ ~~the~~in ~~terms~~connection ofwith the ~~Order,~~settlement ~~which~~of ~~was issued~~certain ~~and~~regulatory ~~became~~compliance ~~effective~~matters. onThe ~~October~~agreements 9,address ~~2009,~~ Eurobank’s iscompliance ~~required to implement~~with ~~certain~~the ~~corrective~~Bank ~~and~~Secrecy ~~remedial~~Act ~~measures~~(“BSA”) ~~under~~and ~~strict~~primarily ~~time~~relate ~~frames~~to ~~that~~certain ~~are~~deficiencies in ~~intended~~Eurobank’s toanti-money ~~address~~laundering ~~various~~program ~~matters~~that ~~including~~occurred ~~issues~~between ~~related~~April to2005 ~~capital,~~and ~~liquidity~~December ~~and asset quality~~2008.

InThe ~~addition~~Agreements toconsist ~~the FDIC Order, EuroBancshares has entered into a Written Agreement with the Federal Reserve Bank~~ of ~~New York effective as of September 30, 2009. Under~~ the ~~terms~~ of the Written Agreement, EuroBancshares has agreed to take certain actions that are designed to maintain its financial soundness so that it may continue to serve as a source of strength to Eurobank. Among other things, the Written Agreement requires prior approval relating to the payment of dividends and distributions, incurrence of debt, and the purchase or redemption of stock. In addition, EuroBancshares is required to submit a capital plan and maintain regular reporting to the Federal Reserve during the term of the agreement.following:

~~Over~~· ~~the~~Stipulation ~~past~~and ~~several~~Consent ~~months, EuroBancshares has been exploring various alternatives for raising additional capital that would enable it~~ to ~~comply with~~ the ~~terms~~Issuance of ~~its~~Order ~~regulatory orders. Despite~~to ~~its~~Pay ~~diligent~~by ~~efforts,~~and ~~EuroBancshares~~between isEurobank ~~still~~and ~~in process~~the ~~of securing a definitive source for additional capital. At this moment~~FDIC, ~~EuroBancshares~~under ~~has~~which ~~not~~Eurobank ~~been~~consented ~~able~~ to ~~comply~~ ~~with~~ the ~~terms of its regulatory orders. Unless EuroBancshares is able to present a viable recapitalization plan in the near future it is anticipated that the~~ FDIC’s ~~and~~issuance ~~the Puerto Rico Commissioner~~ of ~~Financial Institutions~~an ~~will~~Order ~~take further action against Eurobank, including placing the bank into receivership. Although EuroBancshares is continuing~~ to ~~negotiate~~ ~~potential~~Pay ~~strategic recapitalization plans with certain prospective investors~~$25,000 noin ~~assurances~~civil ~~can~~money bepenalties ~~made that such negotiations will ultimately be successful. As such, Management and~~ (the ~~Board~~“FDIC ofAgreement”); ~~Directors of EuroBancshares~~ and ~~Eurobank have doubts regarding the bank’s ability to continue operating as a going concern.~~

2· Consent to the Assessment of Civil Money Penalty by and between Eurobank and FinCEN, under which Eurobank consented to FinCEN’s assessment of $25,000 in civil money penalties (the “FinCEN Agreement”)

~~Item~~The ~~9.01~~civil ~~Financial~~money ~~Statements~~penalties issued under the FDIC Agreement and ~~Exhibits~~the FinCEN Agreement were concurrent and satisfied by a single payment of $25,000 by Eurobank to the United States Department of the Treasury on April 22, 2010.

(d) Exhibits

99.1 Press release of EuroBancshares, Inc., dated April 22, 2010.

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.

	EUROBANCSHARES, INC.
Date: April 22, 2010	By:	/s/ Rafael Arrillaga-Torréns, Jr.
Date: April 28, 2010	By:	/s/ Rafael Arrillaga-Torréns, Jr.
		Rafael Arrillaga-Torréns, Jr.
		Chairman of the Board, President and Chief Executive Officer

EXHIBIT INDEX
Exhibit No.		Description
99.1		Press release of EuroBancshares, Inc., dated April 22, 2010.

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