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ACB NASDAQ INDEX CELEBRATES FIRST ANNIVERSARY WITH OUTSTANDING PERFORMANCE
WASHINGTON, D.C. — The America’s Community Bankers NASDAQ Stock Index, the most broadly representative stock index for community banks, celebrated its first anniversary today with a performance record that outstripped major market indexes.
The index posted an increase of 19.5 percent on a total return basis from Dec. 2, 2003, to Dec. 2, 2004. By way of comparison, the NASDAQ 100 Index ended the same time period up 12.9 percent and the S&P; 500 Index was up 12.9 percent from Dec. 1, 2003 through Dec. 1, 2004. All three indexes were calculated on a total return basis.
The ACB NASDAQ Index value was benchmarked at 250 on Dec. 2, 2003, and its launch was announced on Dec. 8, 2003. The value was 298.82 on Dec. 2, 2004.
The index includes some 520 community banks, thrifts and holding companies with market capitalization of more than $190 billion.
“Our goal in launching the index was to bring greater visibility to community banks, and we’ve achieved that,” said ACB Chairman Harry P. Doherty. “The first year’s outstanding performance confirms that Wall Street recognizes the real value of community banks.” Doherty is also vice chairman of Independence Community Bank Corp., Brooklyn, N.Y.
The index was enhanced in August when ACB and NASDAQ announced the availability of intraday price quotes under the symbol ACBQ. The price is refreshed every 15 seconds over the NASDAQ Index Dissemination Service, and can be accessed through financial data vendors. The intraday ACB NASDAQ Index is market-value weighted, uses NASDAQ trades only and does not include reinvested dividends.
Additionally, the index continues to be calculated once a day on a total return basis, using the NASDAQ Official Closing Price with dividends reinvested as of the ex-dividend date. The total return version is available on ACB’s website at www.AmericasCommunityBankers.com, and on the NASDAQ website at www.nasdaq.com/aspx/TotalReturn.aspx.
“The total return calculation of the index is an important measure of performance because of the consistently high dividends paid by most community banks,” said Doherty.
After launching the index, ACB inaugurated a series of Community Bank Investor Conferences in New York City. The conferences featured financial performance presentations to institutional investors and the investment community by community bank members of the index. Two conferences were held in 2004; additional conferences are planned for May and November 2005.
America’s Community Bankers is the member-driven national trade association
representing community banks that pursue progressive, entrepreneurial and
service-oriented strategies to benefit their customers and communities. To learn
more about ACB, visit
www.AmericasCommunityBankers.com.
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