Dec 2 - The American Bankers Association has added five banks to the ABA Nasdaq Community Bank Index (ABAQ), effective Dec. 2, 2013. The index includes 380 community banks with more than $183.5 billion in market capitalization. Additionally, BOK Financial Corp. and Popular Inc. (BPOP) no longer qualify under the criteria for inclusion in the ABA Nasdaq Community Bank Index, as both are now among the 50 largest banking charters.
Launched in December 2003, the 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.
The index includes all banks and savings associations or their holding companies listed on the Nasdaq, with the exception of any of the 50 largest bank and thrift charters based on asset size, banks classified as having an "international specialization" and banks classified as having a "credit card specialization." Asset size and business classifications are based on the most recently available FDIC data.
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.
Price changes throughout the trading day are updated every 15 seconds and can be accessed using the symbol ABAQ. These intraday price quotes are available on ABA's website at www.aba.com and through such financial data services as Yahoo and Bloomberg. ABAQ listings are published daily in the Market Monitor column of the American Banker newspaper.
The index is adjusted for splits and spin-offs. Newly eligible companies are added on June 1 and Dec. 1. The complete list can be accessed on the ABAQ’s Web page.
Additions to the index as of Dec. 2 are: