ACB: Press Releases

Contact:	Robert Schmermund (202) 857-3104 Jim Eberle (202) 857-3145	Jim Eberle (202) 857-3145 (work) (703) 893-2593 (home) [email protected]	For Immediate Release May 27, 2004 #04-26
E-mail: [email protected]

18 COMMUNITY BANKS ADDED
TO AMERICA’S COMMUNITY BANKERS NASDAQ INDEX

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WASHINGTON, D.C. — America’s Community Bankers announced today that 18 community banks will be added to the America’s Community Bankers NASDAQ Index on June 1. The index includes about 540 community banks with a market capitalization of about $180 billion.

“The index is the most broadly representative stock index for the community bank segment of the banking industry,” said William W. Zuppe, chairman of ACB and chairman and CEO of Sterling Savings Bank, Spokane, Wash.

“ACB and NASDAQ launched the index in December 2003, to bring greater visibility to community banks, and in turn, promote greater market liquidity and fairer valuations,” he added.

“I am pleased to see this index expand because it is such an important measure of economic and market activity,” said John Jacobs, NASDAQ executive vice president. “Community banks are unique in their interaction with local interests, helping fuel small business development, which is critical to the continued success of the American economy.”

During the first quarter of 2004, the ACB NASDAQ index outperformed broad-market indexes. The index posted an increase of 4.03 percent, while the S&P; 500 Index ended the first quarter up 1.69 percent and the NASDAQ Composite Index returned -0.36 percent.

The ACB NASDAQ index is a total return index. Comparisons with the S&P; 500 Index and the NASDAQ Composite Index are based on the total return method, which includes stock price changes, plus the value of reinvested dividends.

The base value of the index was set at 250 on Dec. 2, 2003. The index has ranged from a high of 263.00 on March 5, and a low of 240.68 on May 10. The index is calculated once a day using NASDAQ Official Closing Prices. When a company is no longer listed, it is removed from the index. Newly listed companies are added on June 1 and Dec. 1. It can be accessed on America’s Community Bankers’ website at www.AmericasCommunityBankers.com.

The index includes banks and thrifts 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.

Unlike other NASDAQ indexes, the index is a total return index, which means that the value of reinvested dividends is included in the index value. The index is adjusted for splits and spin-offs.

Central Valley Community Bancorp, Clovis, Calif.
K-Fed Bancorp, Covina, Calif.
NewAlliance Bancshares, Inc., New Haven, Conn.
The Bancorp Bank, Wilmington, Del.
Coast Financial Holdings, Inc., Bradenton, Fla.
Old Line Bankshares, Inc., Waldorf, Md.
The Bank Holdings, Reno, Nev.
Clifton Savings Bancorp, Inc., Clifton, N.J.
Synergy Financial Group, Inc., Cranford, N.J.
Smithtown Bancorp, Inc., Smithtown, N.Y.
Bank of Oak Ridge, Oak Ridge, N.C.
Bank of Wilmington, Wilmington, N.C.
Cheviot Financial Corp., Cincinnati, Ohio
KNBT Bancorp, Inc., Bethlehem, Pa.
SCBT Financial Corp., Columbia, S.C.
Southcoast Financial Corp., Mount Pleasant, S.C.
Franklin Bank Corp., Austin, Texas
Rainer Pacific Financial Group. Inc., Fife, Wash.

America’s Community Bankers is the national trade association committed to shaping the future of banking by being the innovative industry leader strengthening the competitive position of community banks. To learn more about ACB, visit www.AmericasCommunityBankers.com.

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18 COMMUNITY BANKS ADDED TO AMERICA’S COMMUNITY BANKERS NASDAQ INDEX

18 COMMUNITY BANKS ADDED
TO AMERICA’S COMMUNITY BANKERS NASDAQ INDEX