The American Bankers Association added 11 banks to its Nasdaq Community Bank Index (ABAQ) today. The index now includes 288 community banks with a combined market cap of $273.7 billion. The newest additions are:
- Blue Foundry Bancorp, Rutherford, New Jersey
- Catalyst Bancorp, Opelousas, Louisiana
- Cullman Bancorp, Cullman, Alabama
- Five Star Bancorp, Rancho Cordova, California
- NorthEast Community Bancorp, White Plains, New York
- Orange County Bancorp, Middletown, New York
- PB Bankshares, Coatesville, Pennsylvania
- Southern States Bancshares, Anniston, Alabama
- TC Bancshares, Thomasville, Georgia
- Texas Community Bancshares, Mineola, Texas
- U.S. Century Bank, Miami.
First Citizens BancShares, based in Raleigh, North Carolina, was removed from the index as it now holds one of the 50 largest banking charters. 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.
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