The American Bankers Association added two banks to its Nasdaq Community Bank Index (ABAQ) today. The index now includes 334 community banks with a combined market cap of nearly $259 billion. The newest additions are FNB Bancorp, San Francisco, Calif., and HV Bancorp, Inc., Huntingdon Valley, Pa.
The index, launched in 2003, represents all Nasdaq-listed banks and savings associations except the 50 largest banks and those with international or credit card specializations. The ABAQ 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. Read more.