The American Bankers Association added 19 banks to its Nasdaq Community Bank Index (ABAQ) today. The index now includes 334 community banks with a combined market cap of $290 billion. The newest additions are
- Amalgamated Bank, New York
- Bank First National Corporation, Manitowoc, Wis.
- Bank7 Corp., Oklahoma City
- BayCom Corp., Walnut Creek, Calif.
- Capital Bancorp, Inc., Rockville, Md.
- CBM Bancorp, Inc., Baltimore
- Coastal Financial Corporation, Everett, Wash.
- First Choice Bancorp, Cerritos, Calif.
- First Western Financial, Inc., Denver
- FVCBankcorp, Inc., Fairfax, Va.
- Mercantil Bank Holding Corporation, Coral Gables, Fla.
- Mid-Southern Bancorp, Inc., Salem, Ind.
- MVB Financial Corp., Fairmont, W.Va.
- Origin Bancorp, Inc., Ruston, La.
- Pacific City Financial Corporation, Los Angeles
- Riverview Financial Corporation, Harrisburg, Pa.
- Spirit of Texas Bancshares, Inc., Conroe, Texas
- Standard AVB Financial Corp., Monroeville, Pa.
- Valley National Bancorp, Wayne, N.J.
“Banks are listing on NASDAQ and being added to ABAQ at nearly twice the rate of the past decade, which is remarkable,” said ABA EVP Bob Davis. “This speaks to a growing desire among banks to increase engagement with the investor community and boost growth opportunities.”
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.