The American Bankers Association has added 12 banks to community banks indexed and listed with the Nasdaq stock exchange.
The index, which consists of 373 community banks, represents institutions with more than $190 billion in aggregate market capitalization. The $36 billion-asset SVB Financial in Santa Clara, Calif., recently exceeded the size limit for a community bank and has been removed from the index.
The index is designed to exclude "any of the 50 largest bank and thrift charters based on asset size," institutions classified as having an "international specialization" and banks with a "credit card specialization." The index, calculated by a total return and price-return basis, is reported daily.
The latest additions consisted of Anchor Bancorp Wisconsin in Madison, Wis.; Blue Hills Bancorp in Norwood, Mass.; Bankwell Financial Group in New Canaan, Conn.; Carolina Financial in Charleston, S.C.; Entegra Financial in Franklin, N.C.; First Mid-Illinois Bancshares in Matoon; Green Bancorp in Houston; Middlefield Banc in Middlefield, Ohio; Melrose Bancorp in Melrose, Mass.; Sunshine Bancorp in Plant City, Fla.; ServisFirst Bancshares in Birmingham, Ala.; and Stonegate Bank in Fort Lauderdale, Fla.