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ABA NASDAQ Community Bank Index FAQs

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Frequently Asked Questions

  • What is the ABA NASDAQ Community Bank Index™?
    The ABA NASDAQ Community Bank Index is the most broadly representative stock index for community banks.

  • What is the index ticker symbol?
    The symbol is ABAQ.

  • How many banks are included in the index and what is their market capitalization?
    As of December 2013 the ABAQ index was composed of 380 community banks with a market capitalization of approximately $183.5 billion.

  • Are all community banks included in the index?
    No. The index includes NASDAQ-listed banks and thrifts or their holding companies with Standard Industry Codes 6020, 6021, 6022, 6035, or 6036 (or that the American Bankers Association determines should be classified as such).

  • What types of banks are excluded from the index?
    The following types of banks are excluded, as determined by using the most recentlyavailable call report data complied by the FDIC:
    • Any of the 50 largest banks and thrifts based on asset size (and their holding companies).
    • Any banks or thrifts classified as having an "international specialization," including holding companies where such institutions constitute the majority of assets.
    • Any banks or thrifts classified as having a "credit-card specialization," including holding companies where such institutions constitute the majority of assets.
  • How is the index weighted?
    The index is weighted by market capitalization. It is adjusted for splits and spin-offs.

  • How is the index calculated?
    The index is calculated in two ways: based on price changes only, and a total return value.
    • The price-based calculation is computed throughout the day. It includes NASDAQ trades only.
    • The total return value is based on the NASDAQ Official Closing Price with dividends reinvested as of the ex-dividend date.
  • How often is the index calculated?
    • The intraday price is calculated every 15 seconds and is disseminated over the NASDAQ Index Dissemination Service. It can be accessed through financial data vendors using the ticker symbol ABAQ.
    • The total return value is calculated once a day and is available on ABA's website at www.aba.com and on the NASDAQ website here.
  • What was the index's initial value?
    • The index's initial value was set at 250 based on Dec. 2, 2003, closing prices.
    • The index includes all banks, thrifts or their holding companies listed on NASDAQ on Sept. 30, 2003, that met the index criteria on Dec. 2, 2003.
  • How often are institutions added and deleted?
    Eligible banks and thrifts or their holding companies are added to the index semiannually on June 1 and December 1, based on companies listed at the end of the preceding month that meet the index criteria. Companies no longer listed on the NASDAQ are deleted from the index immediately.

 

Questions? Please contact Helen Sullivan.