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NEWS RELEASE
May 29, 2009
ABA Media Contact: Jim Eberle
(202) 663-5477
E-mail: jeberle@aba.com
AMERICAN BANKERS ASSOCIATION ANNOUNCES ADDITIONS
TO ABA NASDAQ COMMUNITY BANK INDEX
WASHINGTON, D.C. -- The American Bankers Association announced today the addition of seven banks to the ABA NASDAQ Community Bank Index (ABAQ), effective June 1. The index includes more than 480 community banks with a market capitalization of approximately $100 billion.
The Index, launched in December 2003, is the most broadly representative stock index for community banks, and remains an important benchmark providing banks greater visibility in the marketplace.
The Index includes all banks and savings associations or their holding companies listed on the NASDAQ, with the exception of any of the 50 largest bank and thrift charters 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.
The Index is calculated on both a total return and price return basis. The Index is reported daily as a total return index, which means that the value of reinvested dividends is included in the calculation. The total return index is commonly used as a benchmark in proxy statements.
Price changes throughout the trading day are updated every 15 seconds and can be accessed using the symbol ABAQ. These intraday price quotes are available on ABA's website at www.aba.com and through financial data services such as Yahoo Finance and Bloomberg. ABAQ company listings are also available during the trading day at http://finance.yahoo.com/q/cp?s=%5EABAQ and are published daily in the Market Monitor column of the American Banker newspaper.
The index is adjusted for splits and spin-offs. Newly eligible companies are added on June 1 and Dec. 1. The complete list can be accessed on ABA's Web site.
Additions to the index, as of June 1, include the following:
- California First National Bancshares (CFNB), Irvine, Calif.
- 1st Century Bancshares Inc. (FCTY), Los Angeles, Calif.
- Oak Valley Bancorp (OVLY), Oakdale, Calif.
- The Bank of Kentucky Financial Corp. (BKYF), Crestview Hills, Ky.
- DNB Financial Corp. (DNBF), Downingtown, Pa.
- Tower Bancorp Inc. (TOBC), Harrisburg, Pa.
- Orrstown Financial Services Inc. (ORRF), Shippensburg, Pa.
The American Bankers Association brings together banks of all sizes and charters into one association. ABA works to enhance the competitiveness of the nation's banking industry and strengthen America¡¯s economy and communities. Its members ¨C the majority of which are banks with less than $125 million in assets ¨C represent over 95 percent of the industry¡¯s $13.5 trillion in assets and employ over 2 million men and women.
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