ABA has added eight banks to the ABA NASDAQ Community Bank Index (ABAQ), effective today. The index includes 288 community banks with $256.2 billion in market capitalization and is calculated on a total return and price return basis. Newly eligible companies are added on June 1 and Dec. 1.
Additions are: BayFirst Financial Corp., St. Petersburg, Florida; CFSB Bancorp, Quincy, Massachusetts; Finward Bancorp, Munster, Indiana; FinWise Bancorp, Murray, Utah; FVCBankcorp, Fairfax, Virginia; John Marshall Bancorp, Reston, Virginia; NSTS Bancorp, Waukegan, Illinois; and Third Coast Bancshares, Humble, Texas. Additionally, Tulsa, Oklahoma-based BOK Financial was removed from the index because it is now chartered among the 50 largest banks.
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. ABAQ is the most broadly representative stock index for community banks and remains an important tool for giving banks more visibility with analysts and investors.