Farmers National Banc to Join Russell 3000 Index
CANFIELD, Ohio – Farmers National Banc Corp., holding company of Farmers Bank and Farmers Trust Co., will be added to the broad-market Russell 3000 Index June 27, Farmers announced Tuesday.
Farmers’ inclusion in the index is based on the Russell U.S. Indexes’ annual reconstitution effective that date, according to a preliminary list of additions Russell posted last Friday.
“Inclusion in the Russell 3000 Index is a significant milestone for us as we continue to execute our growth strategy,” Kevin J. Helmick, president and CEO of Farmers, said in a prepared statement. “Over the past year, our total assets have increased nearly 65% as a result of strong organic growth, as well as from the contribution of 2015’s mergers with National Bancshares and Tri-State 1st Banc. This growth has enhanced our financial results and has increased our valuation paving the way for us to be included in the Russell 3000.”
Annual reconstitution of the Russell U.S. indexes reflects the 4,000 largest domestic stocks as of May 31, the rankings based on their total market capitalization.
Membership in the U.S. all-cap Russell 3000 Index, lasts a year, means automatic inclusion in the large-cap Russell 1000 Index or small-cap Russell 2000 Index.
Some $6 trillion in assets are benchmarked against the Russell indexes.
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