WASHINGTON, May 31 /PRNewswire/ – America’s Community Bankers announced that 19 community banks will be added June 1 to the America’s Community Bankers NASDAQ Index. The index will include 517 community banks with a market capitalization of about $193 billion.
The index is the most broadly representative stock index for the community bank segment of the banking industry. ACB and NASDAQ launched the index in December 2003, to bring greater visibility to community banks, and in turn, promote greater market liquidity and fairer valuations.
“The America’s Community Bankers NASDAQ Index is a critical benchmark for community banks to use and measure themselves against, particularly in light of ongoing fluctuations in bank representation on other indexes,” said Diane Casey-Landry, ACB president and CEO.
The index includes banks and savings associations listed on the NASDAQ, with the exception of any of the 50 largest banks and thrifts based on asset size, banks classified as having an “international specialization” and banks classified as having a “credit card specialization.” Asset size and business classifications are based on the most recently available FDIC data.
Newly eligible companies are added on June 1 and Dec. 1. The complete list can be accessed on America’s Community Bankers’ website at http://www.acb.us.
The index is calculated based on price changes throughout the trading day under the symbol ACBQ. The index also is reported daily as a total return index, which means that the value of reinvested dividends is included in the calculation. The index is adjusted for splits and spin-offs.
Additions to the index, as of June 1, include the following:
First California Financial Group, Los Angeles, Calif. (FCAL)
Sun American Bancorp, Boca Raton, Fla. (SAMB)
Atlantic Southern Financial Group, Macon, Ga. (ASFN)
Citizens First Corp., Bowling Green, Ky.(CZFC)
Hampden Bancorp, Inc., Springfield, Mass. (HBNK)
Citizens Holding Company, Philadelphia, Miss. (CIZN)
Cadence Financial Corp., Starkville, Miss. (CADE)
Stewardship Financial Common Stock, Midland Park, N.J. (SSFN)
MSB Financial Corp., Millington, N.J. (MSBF)
Oritani Financial Corp., Washington Township, N.J. (ORIT)
VSB Bancorp, Inc., Staten Island, N.Y. (VSBN)
CMS Bancorp, Inc., White Plains, N.Y. (CMSB)
TFS Financial Corp., Cleveland, Ohio (TFSL)
Osage Bancshares, Inc., Pawhuska, Okla. (OSBK)
Alliance Bancorp, Inc. of Pennsylvania., Broomall, Pa. (ALLB)
ESSA Bancorp, Inc., Stroudsburg, Pa. (ESSA)
Southern National Bancorp of Virginia, Charlottesville, Va. (SONA)
WSB Financial Group, Inc., Bremerton, Wash. (WSFG)
Citizens Community Bancorp, Inc., Eau Claire, Wis. (CZWI)
America’s Community Bankers is the national trade association committed to shaping the future of banking by being the innovative industry leader strengthening the competitive position of community banks. To learn more about ACB, visit http://www.ACB.us.