CB Financial Services, Inc. Set to Join the Russell 2000® Index and Russell 3000® Index
09 June 2020 - 1:35AM
CB Financial Services, Inc. (the “Company”) (NASDAQGM: CBFV), the
holding company for Community Bank, today announced the Company is
set to join the small cap Russell 2000® Index and the broad-market
Russell 3000® Index at the conclusion of this year’s reconstitution
of the Russell stock indexes, effective after the U.S. stock market
opens on Monday, June 29, 2020, according to a preliminary list of
additions posted June 5, 2020.
“Inclusion in the Russell Indexes is an important milestone for
the Company and will increase the overall awareness and exposure of
our stock within the investment community,” said Barron P. McCune,
Jr., the Company’s President and Chief Executive Officer. “The
listing reflects the direction the Company is headed as we continue
to grow our business in the region.”
The annual reconstitution of the broad-market Russell
3000® Index captures 3,000 of the largest U.S. stocks, ranking
them by total market capitalization. The largest 1,000
companies in this ranking comprise the Russell 1000® Index and
the next 2,000 companies constitute the Russell 2000® Index, which
together comprise the Russell 3000® Index. FTSE Russell determines
membership for its Russell US Indexes primarily by objective,
market-capitalization rankings and style attributes. Based on its
market capitalization, the Company qualified for membership in the
Russell 2000® index, which means automatic inclusion in the Russell
3000® Index as well as the appropriate growth and value style
indexes. Membership remains in effect for one year until the next
annual reconstitution.
Russell US Indexes are part of FTSE Russell, a leading global
index provider, and are widely used by investment managers and
institutional investors as the basis for index funds and as
benchmarks for active investment strategies. FTSE Russell
reports that approximately $9 trillion in assets are benchmarked
against Russell US Indexes. For more information on the Russell
3000® Index and Russell 2000® Index and the Russell US Indexes
reconstitution, visit the “Russell Reconstitution” section at FTSE
Russell website.
About CB Financial Services, Inc.
CB Financial Services, Inc. is the bank holding company for
Community Bank, a Pennsylvania-chartered commercial bank. Community
Bank operates twenty offices in Greene, Allegheny, Washington,
Fayette, and Westmoreland Counties in southwestern Pennsylvania,
seven offices in Brooke, Marshall, Ohio, Upshur and Wetzel Counties
in West Virginia, and one office in Belmont County in Ohio.
Community Bank offers a broad array of retail and commercial
lending and deposit services and provides commercial and personal
insurance brokerage services through Exchange Underwriters, Inc.,
its wholly owned subsidiary.
For more information about CB Financial Services, Inc. and
Community Bank, visit our website at
www.communitybank.tv.
About FTSE Russell
FTSE Russell is a leading global provider creating and managing
a wide range of indexes, data and analytic solutions to meet client
needs across asset classes, style and strategies. Covering 98% of
the investable market, FTSE Russell indexes offer a true picture of
global markets, combined with the specialist knowledge gained from
developing local benchmarks around the world.
FTSE Russell index expertise and products are used extensively
by institutional and retail investors globally. Approximately $16
trillion is currently benchmarked to FTSE Russell indexes. For over
30 years, leading asset owners, asset managers, ETF providers and
investment banks have chosen FTSE Russell indexes to benchmark
their investment performance and create investment funds, ETFs,
structured products and index-based derivatives. FTSE Russell
indexes also provide clients with tools for asset allocation,
investment strategy analysis and risk management.
A core set of universal principles guides FTSE Russell index
design and management: a transparent rules-based methodology is
informed by independent committees of leading market participants.
FTSE Russell is focused on index innovation and customer
partnership applying the highest industry standards and embracing
the IOSCO Principles. FTSE Russell is wholly owned by the London
Stock Exchange Group.
For more information, visit www.ftserussell.com.
Forward-Looking Statements
Statements contained in this press release that are not
historical facts may constitute forward-looking statements as that
term is defined in the Private Securities Litigation Reform Act of
1995 and such forward-looking statements are subject to significant
risks and uncertainties. The Company intends such forward-looking
statements to be covered by the safe harbor provisions contained in
the Act. The Company’s ability to predict results or the actual
effect of future events is inherently uncertain. These
uncertainties should be considered in evaluating forward-looking
statements and undue reliance should not be placed on such
statements. The Company assumes no obligation to update any
forward-looking statements except as may be required by applicable
law or regulation.
Contact: Barron P. McCune, Jr.President and Chief Executive
OfficerPhone: (724) 225-2400Fax: (724) 225-4903
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