MICHIGAN CITY, Ind.--(BUSINESS WIRE)--Horizon Bancorp, parent company of Horizon Bank, is one of ten community banks nationwide recently added to the NASDAQ OMX ABA Community Bank Index (Nasdaq:ABQI) effective prior to market open on Monday, December 22, 2014.
The Index is designed to track the performance of banks and thrifts, or their holding companies, listed on the NASDAQ Stock Market and serve as a benchmark for investment products by including the larger and more liquid community banks. Launched in June 2009, the index is the most broadly representative stock index for community banks and remains an important tool for giving banks more visibility with analysts and investors.
“Becoming eligible for this index reflects our ongoing commitment to maximize Horizon Bancorp’s shareholder value and liquidity. We believe this provides added credibility in the institutional marketplace while also increasing the visibility and attractiveness of Horizon’s shares to potential new investors,” said Craig M. Dwight, Chairman and Chief Executive Officer of Horizon Bank.
The NASDAQ OMX ABA Community Bank Index is reviewed on a semi-annual basis with eligible banks and thrifts or their holding companies being added to the index semiannually on June 1 and December 1, based on companies listed at the end of the preceding month that meet the index criteria. Companies no longer listed on the NASDAQ are deleted from the index immediately. The index excludes 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.
About Horizon Bancorp
Horizon Bancorp is a locally owned, independent, commercial bank holding company serving Northern and Central Indiana and Southwest and Central Michigan through its commercial banking subsidiary Horizon Bank, NA. Horizon also offers mortgage-banking services throughout the Midwest. Horizon Bancorp may be reached online at www.horizonbank.com. Its common stock is traded on the NASDAQ Global Market under the symbol HBNC and can be found at www.horizonbank.com.
About NASDAQ ABA Community Bank Index
The NASDAQ OMX ABA Community Bank Index is a market capitalization-weighted index designed to track the performance of banks and thrifts, or their holding companies, listed on The NASDAQ Stock Market®. The index is intended to serve as a benchmark for investment products by including the larger and more liquid community banks. For further details, please visit the American Bankers Association Website at www.aba.com.