The American Bankers Association added 10 banks to its Nasdaq Community Bank Index (ABAQ) today. The index now includes 325 community banks with a combined market cap of $312 billion. The newest additions are:
- Meridian Bank, Malvern, Pa.
- CBTX, Inc., Houston
- Sterling Bancorp, Montebello, N.Y.
- Luther Burbank Corporation, Santa Rosa, Calif.
- FNCB Bancorp, Dunmore, Pa.
- Bridgewater Bancshares, Bloomington, Minn.
- OP Bancorp, Los Angeles
- Business First Bancshares, Baton Rouge, La.
- Columbia Financial, Fair Lawn, N.J.
- Level One Bancorp, Farmington Hills, Mich.
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.