The stocks of 10 community banks will be added to the Nasdaq ABA Community Bank Index next week while the stocks of four others will be removed.
The Nasdaq said in a news release Monday that it is changing the makeup of the index as part of a semi-annual review in which it adds and removes stocks based on market activity.
To be eligible for listing, companies must have a market capitalization of at least $200 million, a three-month average daily dollar trading volume of at least $500,000 and generally have been listed on a market for at least six months. The index tracks the stocks of more than 100 banks and thrifts, or their holding companies.
The 10 companies that will be added to the index on Dec. 19 are Banner Corp., Enterprise Financial Services Corp., First of Long Island Corp., Northfield Bancorp Inc., Ocean First Financial Corp., S.Y. Bancorp Inc., TriCo Bancshares, Univest Corp. of Pennsylvania, Virginia Commerce Bancorp and Westfield Financial Inc.
CoBiz Financial Inc., First Interstate BancSystem Inc., Hampton Roads Bankshares Inc. and Southwest Bancorp Inc. are the four companies slated to be removed from the index.
