American Bankers Association Makes Additions to ABA NASDAQ Community Bank Index

The American Bankers Association has added five banks to the ABA NASDAQ Community Bank Index (ABAQ), effective December 1, 2022. The index includes 284 community banks with $272.1 billion in market capitalization.

The index is calculated on both a total return and price return basis. The index is reported daily as a total return index, which means that the value of reinvested dividends is included in the calculation. The total return index is commonly used as a benchmark in proxy statements.

Additions to the index as of December 1 are:

• BOK Financial Corporation (BOKF), Tulsa, Okla.;
• Citizens Financial Services, Inc. (CZFS), Mansfield, Pa.;
• ECB Bancorp, Inc. (ECBK), Everett, Mass.; 
• Hanover Bancorp, Inc. (HNVR), Mineola, N.Y.; and
• LINKBANCORP, Inc. (LNKB), Camp Hill, Pa.

Additionally, Valley National Bancorp (VLY) no longer qualifies under the criteria for inclusion in the ABAQ index, as it now holds one of the 50 largest banking charters. Price changes throughout the trading day can be accessed using the symbol ABAQ. 

Launched in December 2003, the ABAQ is the most broadly representative stock index for community banks and helps raise awareness of this key segment of the financial services sector among analysts and investors.