Five Banks Added to ABAQ Index

ABA today added five banks to its Nasdaq Community Bank Index (ABAQ). The index now includes 347 community banks with a combined market cap of $210 billion. The newest additions are:

  • Atlantic Capital Bankshares, Inc. (ACBI), Atlanta, Ga.
  • Equity Bancshares, Inc. (EQBK), Witchita, Kan.
  • First Guaranty Bancshares, Inc. (FGBI), Hammond, La.
  • Nicolet Bankshares, Inc. (NCBS), Green Bay, Wis.
  • SmartFinancial, Inc. (SMBK), Knoxville, Tenn.

Additionally, Zions Bancorporation (ZION) no longer qualifies under the criteria for inclusion in the ABAQ index, as it now holds one of the 50 largest banking charters.

Launched in 2003, the index represents all Nasdaq-listed banks and savings associations except the 50 largest banks and those with international or credit card specializations. The index is “the most broadly representative stock index for community banks and remains an important tool for giving banks more visibility with analysts and investors,” ABA said.