Nine Banks Added to ABAQ Index

The American Bankers Association added nine banks to its Nasdaq Community Bank Index (ABAQ) today. The index now includes 328 community banks with a combined market cap of $255 billion. The newest additions are:

  • 1895 Bancorp of Wisconsin, Greenfield, Wis.
  • Carter Bank and Trust, Martinsville, Va.
  • Cortland Bancorp, Cortland, Ohio
  • First National Corporation, Strasburg, Va.
  • MainStreet Bancshares, Fairfax, Va.
  • MBT Financial Corp., Monroe, Mich.
  • Mercantil Bank Holding Corporation, Coral Gables, Fla.
  • PCSB Financial Corporation, Yorktown Heights, N.Y.
  • Rhinebeck Bancorp, Poughkeepsie, N.Y.

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.