In This Article:
ARCHBOLD, Ohio, June 09, 2022 (GLOBE NEWSWIRE) -- Farmers & Merchants Bancorp, Inc., (Nasdaq: FMAO) is set to join the broad-market Russell 3000® Index at the conclusion of the 2022 Russell indexes annual reconstitution, effective after the U.S. market opens on June 27, 2022, according to a preliminary list of additions posted June 3.
Annual Russell indexes reconstitution captures the 4,000 largest U.S. stocks as of May 6, 2022, ranking them by total market capitalization. Membership in the U.S. all-cap Russell 3000® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000® Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings, and style attributes.
“I am excited F&M was added to the Russell 3000® Index,” commented Lars Eller, President and CEO. “Our inclusion in the small-cap Russell 2000® Index reflects the significant growth we have achieved as a result of the successful execution of our multi-year strategic plan, the value we provide our customers and communities, and the hard work and dedication of our team members. We believe F&M’s trading liquidity and investor visibility will increase through our membership in the small-cap Russell 2000® Index.”
“We have a great deal to celebrate this year including 125 years serving our communities as F&M, our fifth year listed on NASDAQ, starting 2022 at over $2.5 billion in assets, and the recent inclusion in the Russell 2000®. To honor these milestones, as well as the significant growth we have achieved together, our leadership team, board of directors, and 30+ year employees will ring the closing bell at the NASDAQ Stock Market in late July. As we continue celebrating our 125th anniversary, we remain committed to our mission of nurturing lasting relationships with our customers, associates, communities and shareholders,” concluded Mr. Eller.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $12 trillion in assets are benchmarked against Russell’s U.S. indexes. Russell indexes are part of the FTSE Russell, a leading global index provider.
For more information on the Russell 3000® Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.
About Farmers & Merchants Bancorp, Inc
The Farmers & Merchants State Bank is a local independent community bank that has been serving Northwest Ohio and Northeast Indiana since 1897. The Farmers & Merchants State Bank provides commercial banking, retail banking and other financial services. Our locations are in Champaign, Fulton, Defiance, Hancock, Henry, Lucas, Williams, and Wood counties in Western Ohio. In Northeast Indiana, we have offices located in Adams, Allen, DeKalb, Jay, Steuben, and Wells counties, and we have Loan Production Offices in West Bloomfield, Michigan; Muncie, Indiana; and Oxford, Ohio.